2024-07-30T13:33:00-07:00 2023-12-31 990EZ 2023-01-01 932642865 Magnolia FCU Community Development Corporation MAGN 6018996326 240 Briarwood Drive Jackson MS 392063027 Jessica Flowers Executive Director 6018996326 2024-07-30 0 X 2023 2024-08-08 14:25:15Z X X X X X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Newly formed to promote community development through serving, or providing investment capital for low-income communities (LICs) or low-income persons. Such activities of the Corporation may include, but not be limited to: investing in, lending to or providing technical assistance to businesses that are located in LICs; investing in or providing loans to support commercial and residential properties that are located in LICs; investing in, lending to or providing technical assistance to organizations such as Community Development Entities or Community Development Financial Institutions engaged in activities that promote community development in LICs or for the benefit of low-income persons. The Corporation intends to be certified as a Community Development Financial Institution (CDFI) by the Community Development Financial Institution Fund by the U.S. Department of Treasury. Magnolia CDC Community Development Corporation (MCDC) was formed in 2023 and had no reported income or expenses, as the organization was newly created and awaiting response to its Form 1023 submission, prior to conducting any income or expense generating activities. 0 0 0 Michael Waylett President 1 0 0 0 Grayland Fredericks Vice President 1 0 0 0 Clara Beauman Secretary 1 0 0 0 Robert Metzger Treasurer 1 0 0 0 Barry McNair Incorporator 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MS Aaron Coffey 240 Briarwood Drive Jackson MS 392063027 6018996339 0 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X MCDC submitted its Form 1023 application for tax exempt status in October 2023, and in July 2024 received approval and designation as a public charity. For the year-ending December 31, 2023, MCDC had no reported income or expenses, as the organization was newly created and awaiting response to its Form 1023 submission, prior to conducting any income or expense generating activities; this resulted in a delayed filing. MCDC intends to submit future filings in accordance with established timelines and appreciates your consideration.