Nonprofit Facilities Application
Idaho Housing offers a bond that is a financing program for 501(c)(3) nonprofit organizations. Nonprofit Facilities Revenue bonds are issued by Idaho Housing to finance facilities to be owned by qualified nonprofit organizations and do not have to be housing-related. Developments that are or will become governmental facilities, could be financed by other governmental means, or have a religious affiliation are not eligible for financing under this program. In addition, these bonds cannot be used unless they will serve a valid public purpose.
Idaho Housing uses its bond financing and administrative expertise on behalf of qualified Idaho nonprofit organizations to obtain lower-cost, tax-exempt financing, which means large savings in financing costs for nonprofits. Funding guidelines also state that Idaho Housing cannot be held liable for defaults by the users of these bonds, and that the parties benefiting from the financing pay for it.
Nonprofit Facilities Financing Policies
Idaho Housing was first authorized to issue these bonds in 1997 and, to date, has completed the following bond issues:
North Star Charter School Refunding Bonds