California Public Finance Authority
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Private Activity Programs
501(c)(3) Nonprofit
Overview
CalPFA’s Nonprofit Finance Program provides access to tax-exempt bond financing for eligible 501(c)(3) nonprofit organizations. A qualified borrower can typically finance a project at a lower interest rate than available through conventional financing because the interest paid to bondholders is exempt from federal income tax.
Eligible Entities
Any nonprofit organization designated as a 501(c)(3) by the Internal Revenue Service, including:
- Healthcare Organizations
- Hospitals
- Assisted living facilities
- Nursing homes
- Educational Organizations
- Colleges and universities
- Private elementary and high schools
- Research institutions
- Charter Schools
- Cultural Organizations
- Museums
- Libraries
- Art Galleries
- Recreational Organizations
- Community Centers
- YMCAs
Eligible Uses
Nonprofit bonds may be used for capital projects including the construction, acquisition, renovation or rehabilitation of facilities and equipment. Bond proceeds may also be used to refinance existing tax-exempt debt, and in certain circumstances, conventional debt.
Contact Us
For more information regarding CalPFA’s Nonprofit Finance Program or project eligibility, please contact a CalPFA Program Administrator.