Las Vegas Community Investment Corp

“Eud's budget analyst receives the 990 checklist and works with finance's sr. Financial analyst to review and update the 990 checklist. At times, the director, sr. Economic development specialist, will be involved in the review and updates. The final is presented to the president of lvcic for his review. The budget analyst works in tandem with cohnreznick representatives to ensure the 990 is completed.”

“The lvcic follows the city of las vegas policies and procedures.”

“The lvcic board is staffed by city employees who are compensated by the city of las vegas and not from the organization.”

“The organization's governing documents and policies are available for public inspection at the organization's office during regular business hours upon request. Las vegas community investment corporation 495 south main street, 6th floor, las vegas, nv 89101 attn: bill arent”

“In august 2012, the las vegas community investment corporation (lvcic), a nonprofit community development entity (cde), was created to pursue new markets tax credit (nmtc) allocation. Nmtcs enable lvcic to provide flexible financing to borrowers that are focused on delivering exceptional service to the city of las vegas' impoverished neighborhoods. Lvcic has received three allocation awards totaling $128 million. As of january 2021, lvcic has used $128 million of its allocation to invest in ten projects. Each investment is made with the goal of improving the lives of struggling residents through quantifiable community benefits such as job creation and the delivery of necessary community goods and services. Lvcic's service area is greater las vegas, however nmtc investments are targeted to the most distressed areas of our service area.”

“Sponsor fee: program service expenses 1,109,892. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,109,892. Appraisal fees: program service expenses 1,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,000. Premiums paid: program service expenses 2,162. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,162.”

“The organization has not changed its oversight process or selection process during the tax year.”