Government Corporations:

"Wholly owned government corporations"

A wholly owned government corporation is a corporate entity established by Congress in which the government holds all equity. Most of these entities are listed in the Government Corporation Control Act (1945). The Act does not serve as a general incorporation law; each of these corporations have their own enabling legislation that stipulates its powers. Fourteen wholly owned government corporations are listed in the Government Corporation Control Act. They are as follows: [Source: From the U.S. Code Online via GPO Access. GPO comment: Laws in effect as of January 6, 1999. Document not affected by Public Laws enacted between January 6, 1999 and February 11, 2000.]

• African Development Foundation:
• The ADF is the principal agency of the U. S. Government that supports community-based, self-help initiatives that alleviate poverty and promote sustainable development in Africa. Established by Congress in 1980 (see the African Development Foundation Act), it became operational in 1984. Over the last fifteen years, ADF has funded over 1300 activities in 34 African countries. [Source: http://linux.adf.gov/about.html
• Commodity Credit Corporation. Click here to access a USDA Fact Sheet about the CCC.
• The CCC is a wholly owned government corporation created in 1933 to stabilize, support, and protect farm income and prices (federally chartered by the Commodity Credit Corporation Charter Act of 1948 (P.L. 80-806, June 29, 1948)). The CCC, which has no staff, is essentially a financing institution for USDA's farm price and income support commodity programs, and agricultural export subsidies. It is authorized to buy, sell, lend, make payments and engage in other activities for the purpose of increasing production, stabilizing prices, assuring adequate supplies, and facilitating the efficient marketing of agricultural commodities. The FAIR Act of 1996 expanded the CCC mandate to include funding for several conservation programs (including the Conservation Reserve Program) and made conservation one of the purposes of the CCC. The programs funded through CCC are administered by employees of the Farm Service Agency. The CCC has the authority to borrow up to $30 billion from the U.S. Treasury to carry out its obligations. Net losses on financial operations subsequently are restored through the congressional appropriations process. [Source: http://agriculture.house.gov/glossary/commodity_credit_corporation_-ccc-.htm]
• Community Development Financial Institutions Fund.
• The Community Development Financial Institutions Fund, a wholly owned government corporation within the U.S. Department of the Treasury, promotes economic revitalization and development in distressed urban and rural communities throughout the United States. The CDFI Fund was created to expand the availability of credit, investment capital, and financial services in distressed urban and rural communities. [Sources: http://www.ustreas.gov/cdfi/ & http://www.treas.gov/cdfi/internetpdf/overviewfinal.pdf]
• Export-Import Bank of the United States
• Ex-Im Bank's mission is to create jobs through exports. It is the official credit agency of the U. S. Government. It provides guarantees of working capital loans for U.S. exporters, guarantees the repayment of loans or makes loans to foreign purchasers of U.S. goods and services. Ex-Im Bank also provides credit insurance that protects U.S. exporters against the risks of non-payment by foreign buyers for political or commercial reasons. Ex-Im Bank does not compete with commercial lenders, but assumes the risks they cannot accept. It must always conclude that there is reasonable assurance of repayment on every transaction financed. [Source: http://www.exim.gov/mover.html]
• Federal Crop Insurance Corporation
• FCIC promotes the national welfare by improving the economic stability of agriculture through a sound system of crop insurance and providing the means for the research and experience helpful in devising and establishing such insurance. [Source: Federal Crop Insurance Corporation]
• Federal Prison Industries, Incorporated (UNICOR)
• UNICOR is the trade name for Federal Prison Industries Inc. (FPI), a wholly owned government corporation established in 1934 as part of the Federal Prison System. Disabled Americans and prison inmates are given productive employment opportunities, education and training through these programs. [Source: http://gsaadvantage.gov/mandsrc.html]
• Corporation for National and Community Service.
• CNCS offers opportunities for Americans of all ages and backgrounds to make their communities safer, healthier, and stronger through volunteer service. In addition to the National Senior Service Corps, the Corporation oversees AmeriCorps (the new domestic Peace Corps) and Learn and Service America programs for students. [Source: http://www.aoa.dhhs.gov/aoa/dir/81.html]
• Government National Mortgage Association (Ginnie Mae.)
• Ginnie Mae is a wholly-owned government corporation within the Department of Housing and Urban Development that supports federal housing initiatives by providing liquidity to the secondary mortgage market and by attracting capital to the residential mortgage markets. [Source: United States Government Manual 2000-2001, p.248; http://www.newsed.org/housing4newsletter.htm]
• Overseas Private Investment Corporation (OPIC)
• OPIC's mission is "to mobilize and facilitate the participation of United States private capital and skills in the economic and social development of less developed countries and areas, and countries in transition from nonmarket to market economies, thereby complementing the development assistance objectives of the United States." [Source: www.opic.gov]
• Pension Benefit Guaranty Corporation (PBGC)
• PBGC is a wholly-owned government corporation governed by a Board of Directors consisting of the Secretary of Labor (Board Chair), the Secretary of the Treasury, and the Secretary of Commerce. The PBGC Executive Director is responsible for the operations of the Corporation, and is assisted by staff grouped in four major functional areas (i.e., operations, finance, negotiations, and management.) PBGC also has contracts with eleven field benefit administration offices to provide services to the participants of pension plans for which it becomes trustee. [Source: http://www.pbgc.gov/about_pbgc/mission/app99.htm]
• Presidio Trust
• The trust is a wholly-owned government corporation established by the 1996 Omnibus Parks and Public Lands Management Act to maintain and lease property at the Presidio in San Francisco. In 1996, the U.S. Congress created the Presidio Trust to preserve and enhance the Presidio in partnership with the National Park Service. Congress also mandated that the Trust become financially self-sufficient by fiscal year 2013. If the Trust fails in this mission, the park may be transferred to the General Services Administration and sold. [Source: www.presidiotrust.gov/about/index.asp
• Saint Lawrence Seaway Development Corporation
• The Corporation, working cooperatively with the Saint Lawrence Seaway Management Corporation (SLSMC) of Canada, is dedicated to operating and maintaining a safe, reliable, and efficient deep draft waterway between the Great Lakes and the Atlantic Ocean. It ensures the safe transit of commercial and noncommercial vessels through the two U.S. locks and the navigation channels of the Saint Lawrence Seaway System. The Corporation works jointly with SLSMC on all matters related to rules and regulations, overall operations, vessel inspections, traffic control, navigation aids, safety, operating dates, and trade development programs. [Source: U.S. Government Manual Online]
• Tennessee Valley Authority
• TVA generates prosperity in the Tennessee Valley by promoting economic development, supplying low-cost, reliable power, and supporting a thriving river system. [Source: http://www.tva.gov/abouttva/index.htm ]
• "the Secretary of Housing and Urban Development when carrying out duties and powers related to the Federal Housing Administration Fund." [Direct quote from 31USC Section 9101]
• Housing & Urban Development
• United States Postal Service
• ". Today, the Postal Service fuels the nation's economy and delivers hundreds of millions of messages and billions of dollars in financial transactions each day to eight million businesses and 250 million Americans. " [Source: History of the United States Postal Service 1775 - 1993: Preface]

"Government corporations"

• Federal Deposit Insurance Corporation (FDIC)
• The Federal Deposit Insurance Corporation's mission is to maintain the stability of and public confidence in the nation's financial system. To achieve this goal, the FDIC has insured deposits and promoted safe and sound banking practices since 1933. [Source: http://www.fdic.gov/about/index.html]
• Federal Home Loan Banks.
• According to the National Archives and Records Administration (NARA), "Abolished: Effective October 8, 1989, by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (103 Stat. 354), August 9, 1989. FSLIC abolished, effective immediately, by same authority."[Source: http://www.nara.gov/guide/rg195.html]
• According to the United States Government Manual, the Federal Housing Finance Board was given responsibility for the functions of the Federal Home Loan Banks. The FHFB is an independent agency found at www.fhfb.gov.
• Amtrak, or the National Railroad Passenger Service.
• Federal Intermediate Credit Banks.
• Federal Land Banks.
• The Federal Intermediate Credit Banks and Federal Land Banks merged and became " Farm Credit Banks" under the Agricultural Credit Act of 1987. "The Farm Credit Administration (FCA or Agency) is an independent agency in the executive branch of the U.S. Government. It is responsible for the regulation and examination of the banks, associations, and related entities that collectively comprise what is known as the Farm Credit System (System), including the Federal Agricultural Mortgage Corporation (Farmer Mac). Initially created by an Executive order of the President in 1933, the Agency now derives its powers and authorities from the Farm Credit Act of 1971, as amended (Act). FCA's mission is to promote a safe and sound, competitive Farm Credit System."[Source: http://www.fca.gov/About-FCA.htm]
• National Credit Union Administration Central Liquidity Facility.
• Regional Banks for Cooperatives.
• Rural Telephone Bank when the ownership, control, and operation of the Bank are converted under section 410(a) of the Rural Electrification Act of 1936 (7 U.S.C. 950(a)).
• Central Bank for Cooperatives.
• Financing Corporation.
• Resolution Trust Corporation.
• Resolution Funding Corporation.

Defunct wholly owned government corporations:

• Alternative Agricultural Research and Commercialization Corporation.
• According to the USDA Webmaster in a November 13, 2000 email, "AARC was not funded by Congress. The office has been closed since January, and the website removed from the server."
• Pennsylvania Avenue Development Corporation.
• According to The Government Services Administration (GSA), "The Omnibus Appropriations Act of 1996 dissolved the Pennsylvania Avenue Development Corporation (PADC) as of April 1, 1996, and transferred certain of its functions, properties, and other assets and liabilities to the General Services Administration (GSA)."
• Panama Canal Commission.
• The Panama Canal was completely turned over to the government of Panama on December 31, 1999. Information (in English) about the Panama Canal may be found at the Panama Canal Web Site.
• Rural Telephone Bank until the ownership, control, and operation of the Bank are converted under section (a) of the            Rural Electrification Act of 1936 (7 U.S.C. 950(a)).