BAC Funding Corporation
AI Summary
BAC Funding Corporation is a nonprofit organization established in April 1982 as an extension of the Business Revitalization Action Committee of the Greater Miami Chamber of Commerce, focusing on urban development in Miami-Dade County, Florida. With an operating budget of $3.8 million and total revenue of $3.9 million for the 2024 filing year, BAC aims to stimulate economic growth by providing credit to new and existing businesses, particularly for minority group residents. The organization does not rely on a single funder for 50% or more of its revenue.
Mission Statement
BAC Funding Corporation ("BAC or Corporation"), a nonprofit organization, is an outgrowth of the Business Revitalization Action Committee of the Greater Miami Chamber of Commerce ("GMCC"). BAC was formed in April 1982, to help stimulate the economic growth of Liberty City. The objective of BAC is to develop and expand new and existing businesses for minority group residents of Miami-Dade County, Florida. These objectives are met by extending credit to new and existing businesses within Miami-Dade County, Florida.
Cause Areas
1
Urban development
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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Eligible for tax-deductible gifts
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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Frequently Asked Questions
What is BAC Funding Corporation’s budget?
In 2024, BAC Funding Corporation reported an annual operating budget of around $3.8 million. More detailed financial information is available to registered users.
What causes does BAC Funding Corporation support?
BAC Funding Corporation supports work in Urban development.
Where does BAC Funding Corporation operate?
BAC Funding Corporation is headquartered in Miami, FL.
Who funded BAC Funding Corporation recently?
In 2024, BAC Funding Corporation received grants from Wells Fargo Foundation, MIGHTYCAUSE CHARITABLE FOUNDATION, and CHARITABLE & EDUCATIONAL TRUST UA 7TH OF W/O GEORGES LURCY DECEASED. More information on this organization’s funders is available to registered users.
What is the largest grant BAC Funding Corporation received in 2024?
The largest grant to BAC Funding Corporation in 2024 exceeds $25 thousand.