Eca Support Corporation
- Assets
- $11.2m
- Revenue
- $561.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 12/2018
- Data as of
- 06/2023
- EIN
- 83-0666071
Organization Overview
Eca Support Corporation is located in Washington, DC. The organization was established in 2018. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eca Support Corporation 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 06/2023, Eca Support Corporation generated $561.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (22.4%) each year. All expenses for the organization totaled $583.7k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SUPPORT CORPORATIONS MISSION IS TO SUPPORT AND FACILITATE A COMPLEX SERIES OF LOANS TO THE EARLY CHILDHOOD ACADEMY THROUGH THE NEW MARKETS TAX CREDIT(NMTC) PROGRAM TO DEVELOP AND CONSTRUCT A 300-STUDENT PUBLIC CHARTER SCHOOL FACILITY LOCATED AT 885 BARNABY STREET, SE, WASHINGTON D.C. 20032. IN ADDITION TO SERVING AS A LEVERAGED LENDER UNDER THE NMTC PROGRAM, THE SUPPORT CORPORATION WILL PROVIDE THE PROJECT'S EQUITY INVESTOR WITH A NUMBER OF ASSURANCES REGARDING THE PROJECT'S ELIGIBILITY FOR THE NEW MARKETS TAX CREDITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ON MAY 16, 2018, THE ECA SUPPORT CORPORATION WAS ORGANIZED AS A DISTRICT OF COLUMBIA NOT-FOR-PROFIT ORGANIZATION TO PARTICIPATE IN THE INTERNAL REVENUE SERVICE'S FEDERAL NEW MARKET TAX CREDIT (NMTC) PROGRAM TO DEVELOP AND CONSTRUCT A NEW FACILITY SITE AND CAMPUS FOR ITS ELEMENTARY SCHOOL OPERATIONS AND PROGRAMS, LOCATED AT 885 BARNABY STREET, SE, WASHINGTON,DC. THE ECA SUPPORT CORPORATION SERVES AS A LEVERAGE LENDER TO INDIRECTLY FUND THE NMTC LOANS AND OPERATES FOR THE BENEFIT OF, PERFORMS THE FUNCTIONS OF, AND CARRIES OUT THE PURPOSES OF THE EARLY CHILDHOOD ACADEMY PUBLIC CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Hall President | OfficerTrustee | 0.25 | $0 |
James Williams VP & Secreta | OfficerTrustee | 0.25 | $0 |
Floyd Haynes Treasurer | OfficerTrustee | 0.25 | $0 |
Eric Bellamey Director | Trustee | 0.25 | $0 |
Burnell Holland Director | Trustee | 0.25 | $0 |
Wendy Edwards Executive Di | Officer | 0.25 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $561,414 |
| 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 | $561,414 |
| 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 | $0 |
| Fees for services: Accounting | $11,400 |
| 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 | $130 |
| 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 | $561,096 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,089 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $583,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,808 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,140,800 |
| 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 | $0 |
| Intangible assets | $24,489 |
| Other assets | $24,210 |
| Total assets | $11,238,307 |
| Accounts payable and accrued expenses | $139,889 |
| 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 | $9,675,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,814,889 |
| Net assets without donor restrictions | $1,423,418 |
| Net assets with donor restrictions | $0 |
| 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 | $11,238,307 |