California Preaching Tax-Exempts to Faith-Based Nonprofits

Williams, Rochelle
March 2003
Bond Buyer;3/28/2003, Vol. 343 Issue 31803, p32
Trade Publication
Financially challenged state California wants to educate faith-based groups about how to use their nonprofit status to use creative financing, including the issuance of tax-exempt debt, to finance housing and other social services for low-income people in the state. The California Debt Investment and Advisory Commission will hold a series of seminars around the state that are attracting community activists and others seeking to find out how to supplement their programs with loans, grants, and bonds. Dawn Carpenter, managing director and founder of Eos Financial Group, a financial advisory firm that specializes in nonprofits, said faith-based organizations and other nonprofits are issuing more debt for projects because of the tremendous stress on financial resources available from local governments. Mary Ellen Shay, director of the California Association of Local Housing Finance Agencies, said it is important for the groups to connect with professionals who have a track record in debt financing.


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