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EIN 68-0190739

Martinez Public Improvement Corporation

IRS 501(c) type
501(c)(4)
Num. employees
0
City
Martinez
State
California
Year formed
1992
Most recent tax filings
2023-06-01
NTEE code, primary
S30: Economic Development
Description
Martinez Public Improvement Corporation finances, acquires, constructs, improves, leases, and sells property, equipment and other public improvement projects to provide financial assistance to the City of Martinez. Improvements are financed through debt that is then leased to the city with rental payments. The combined rental payments and restricted assets of the corporation are sufficient for meeting the debt service obligations of outstanding debts.
Total revenues
$288,218
2023
Total expenses
$657,549
2023
Total assets
$12,485,215
2023
Num. employees
0
2023

Program areas at Martinez Public Improvement Corporation

Improvements financed with Public Improvement Corporation debt are leased to the city with rental payments which, together with restricted assets of the Public Improvement Corporation will be sufficient to meet the debt service obligations of the outstanding debt. The Corporation reports the present value of the lease receivable and considers the leased improvements to have been sold to the city for this amount when leased.

Personnel at Martinez Public Improvement Corporation

NameTitleCompensation
Michael ChandlerCity Manager
Manjit SappalActing City Manager
Jim JakelInterim City Manager$0
Philip Vince CityManager

Financials for Martinez Public Improvement Corporation

RevenuesFYE 06/2023
Total grants, contributions, etc.$0
Program services$0
Investment income and dividends$288,218
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$288,218

Form 990s for Martinez Public Improvement Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-15990View PDF
2022-062023-05-12990View PDF
2021-062022-05-16990View PDF
2020-062021-06-30990View PDF
2019-062020-10-08990View PDF
...and 9 more Form 990s
Data update history
July 19, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 1, 2023
Updated personnel
Identified 1 new personnel
October 16, 2021
Posted financials
Added Form 990 for fiscal year 2020
October 7, 2021
Posted financials
Added Form 990 for fiscal year 2019
November 7, 2020
Updated personnel
Identified 1 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizations
Issues
Community improvementEconomic development
Characteristics
State / local levelNo full-time employees
General information
Address
525 Henrietta St
Martinez, CA 94553
Metro area
San Francisco-Oakland-Berkeley, CA
County
Contra Costa County, CA
Phone
(925) 372-3505
IRS details
EIN
68-0190739
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1992
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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