Technical Assistance Corp
Technical Assistance Corp
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About this organization
Mission
To redevelop and strengthen communities in cooperation with RISE community development.
About
Predevelopment and permanent financing: Most nonprofit community development organizations do not have the ability to pay the costs necessary to get a development project to the point where conventional construction financing becomes available. To get redevelopment projects started in St. Louis' most distressed neighborhoods, Technical Assistance Corporation ('TAC') offers predevelopment loans to nonprofit neighborhood organizations, enabling them to start planning and building toward a vision of improved neighborhood vitality. These loans are offered at below-market interest rates and provide a 'first-in' source of financing, accelerating the time from concept to construction and absorbing the risk that cannot be accepted by conventional lenders. TAC also receives tax credit generated charitable contributions that it uses to make subordinate loans and equity investments in affordable housing developments undertaken either by its own affiliates or unrelated third party affordable housing developers. TAC has provided over $35 million in loans for the development of over 3,500 affordable homes in the St. Louis areas.
Interesting data from their 2020 990 filing
The non-profit's aim, as indicated in the filing, is “Technical assistance corporation ("tac") works to redevelop and strengthen communities by providing housing development services, capacity-building and financing for the successful revitalization of neighborhoods in the st. louis metropolitan area in cooperation with rise community development, a 501(c)(3) organization.”.
When referring to its functions, they were specified as: “To redevelop and strengthen communities in cooperation with rise community development.”.
- The non-profit has reported their operating state as MO, as required by law.
- As stated in the filing, the non-profit's address in 2020 was 1627 WASHINGTON AVENUE, ST LOUIS, MO, 63103.
- The non-profit's form reports a total of 0 employees as of 2020.
- Is not a private foundation.
- Expenses are less than $100,000.
- Revenue is less than $100,000.
- Revenue less expenses is -$32,405.
- The organization has 4 independent voting members.
- The organization was formed in 1990.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $46 in fundraising expenses.
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