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401 Grand St. Paterson, NJ 07505 | (973) 881-4000
"Rich History, Bright Future"

Not-for-Profit Tax Exempt Finance Program

Not-for-profit Tax Exempt Finance Program

Under state statutes and the Internal Revenue Code of 1986, as amended, the Passaic County Improvement Authority (PCIA) is permitted to provide financing through the issuance of tax-exempt bonds, which often offer lower interest rates than traditional bank loans, to not-for-profit organizations within Passaic County. Through tax-exempt bonds, the PCIA can finance or refinance capital expenditures for qualified 501(c)(3) not for profit organizations. The projects can include construction costs, furniture, computers, along with other capital expenditures. Private schools, low-income housing, nursing homes, hospitals, civic centers, charitable organizations are examples of projects that can be financed through the Authority. Please call the PCIA to see if your organization qualifies.