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CIVIC NEW MARKETS SUPPORT CORPORATION III
NEW YORK, NY · EIN 873868085 · Form 990 · FY2024 · NTEE S11 · Community Improvement · Medium ($1M-$10M)
revenue
$1.1M
expenses
$865K
net assets
$953K
employees
0
volunteers
2
program ratio
99%
mission · from form 990

THE CORPORATION WAS FORMED AS A 501(C)(3) ORGANIZATION TO BORROW FUNDS AND TO MAKE A LOAN INTO A FINANCING STRUCTURE FOR A CHARTER SCHOOL DEVELOPMENT PROJECT IN BROOKLYN, NEW YORK.

profile · synthesized from sources

CIVIC NEW MARKETS SUPPORT CORPORATION III is a New York-based nonprofit formed to support a charter school development project in Brooklyn. The organization functions primarily by borrowing funds and making loans into a financing structure for this project. Its activities fall under community improvement as classified by the IRS.

named programs · 1 · from sources

What they call their work

Charter School Development Financing
Provides loan financing through borrowed funds for the development of a charter school in Brooklyn, New York.
activities · 1 group

What they do

  • Charter School Facilities Support 1 activity
    • Financing charter school development projects
      Provided loan financing for a charter school development project in Brooklyn, New York.
financials · form 990 · fy2024
revenue
Total revenue$1.06M
Contributions & grants$422K40%
Program service revenue$00%
Investment income$639K60%
Other revenue$0
expenses
Total expenses$865K
Program expenses99%
Admin / overhead1%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$21.37M
Cash$144K
Investments$0
Liabilities$20.42M
Net assets$953K
Liquid reserves2.0 mo
3 years on record · 2022–2024 · YoY revenue +0.6%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
DAVID UMANSKY PRESIDENT 1 $560K
board members · 2
  • FAYE PREMER — TREASURER
  • RAJEEV BAJAJ — SECRETARY
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Debt Financing for School Infrastructure
    methodology: debt_financing_for_school_infrastructure
    By using debt financing structures, the organization enables the development of charter school facilities, because access to capital is a barrier to school creation and long-term stability.