Technical Assistance Corp
- Assets
- $8.9m
- Revenue
- $350.4k
- Investments
- $0.0
- Employees
- 0
- Location
- St Louis, MO
- Founding
- 03/1995
- Data as of
- 12/2021
- EIN
- 43-1553849
Organization Overview
Technical Assistance Corp is located in St Louis, MO. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Technical Assistance Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Technical Assistance Corp generated $350.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $191.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO REDEVELOP AND STRENGTHEN COMMUNITIES IN COOPERATION WITH RISE COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.RISE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WAS LAUNCHED IN JULY 2020 TO PROVIDE LOANS AND SERVICES TO SMALL CONTRACTORS, DEVELOPERS, AND BUSINESSES THAT ARE UNDERSERVED BY TRADITIONAL BANKS. RISE CDFI SUPPORTS TAC'S EXISTING WORK IN SOME OF THE REGION'S MOST DISINVESTED COMMUNITIES WHERE APPRAISAL GAPS PREVENT TRADITIONAL LENDERS FROM DOING BUSINESS, AND A LACK OF COORDINATED COMMUNITY-DRIVEN PLANS AND INVESTMENT STRATEGIES HAVE PERPETUATED INEFFICIENT AND INSUFFICIENT DEVELOPMENT. THE INTENTION OF THE CDFI IS TO SUPPORT ECONOMICALLY PRODUCTIVE ACTIVITIES WITHIN THE LOCAL COMMUNITY IN ORDER TO FOSTER ECONOMIC DEVELOPMENT, IMPROVE THE FINANCIAL WELL-BEING OF THE LOCAL COMMUNITY, AND, IN PARTICULAR, THE FINANCIAL WELL-BEING OF THE INVESTMENT AREA AND THE LOW-INCOME PEOPLE LIVING AND WORKING IN THE LOCAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Acree President (thru 6/30) | Officer | 1 | $0 |
Mark Stroker Vice President | Officer | 1 | $0 |
Terrell Carter President | Officer | 1 | $0 |
Katherine Kingsbury Secretary | Officer | 1 | $0 |
Peter Kaiser Treasurer | Officer | 1 | $0 |
Mary Campbell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $200,000 |
| Total Program Service Revenue | $150,402 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $350,402 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,011 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $111,913 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $64,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $191,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,350,771 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,214 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,818,994 |
| Intangible assets | $0 |
| Other assets | $643,108 |
| Total assets | $8,936,087 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,361,979 |
| Other liabilities | $0 |
| Total liabilities | $1,361,979 |
| Net assets without donor restrictions | $6,899,195 |
| Net assets with donor restrictions | $674,913 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,936,087 |
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