2023-02-08T11:30:37-06:00 2022-06-30 561824665 THOMPSON PRICE SCOTT ADAMS & CO 4024 OLEANDER DRIVE SUITE 3 WILMINGTON NC 28403 990 2021-07-01 203115014 KERR-TAR REGIONAL ECONOMIC DEVELOPMENT CORPORATION KERR 2524362040 1724 GRAHAM AVE PO BOX 709 HENDERSON NC 27536 DAVID SMITH CHAIRMAN 9196914783 2023-02-03 DAVID SMITH XXX-XX-XXXX GREGORY S ADAMS P00338791 9107994872 2023-02-03 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z DAVID SMITH 207 HOLLY DRIVE OXFORD NC 27565 204730 0 X N/A X 2005 NC THE CORPORATION WAS FORMED FOR THE PURPOSE OF PROMOTING AND SUPPORTING ECONOMIC AND COMMUNITY 14 14 0 0 0 0 178355 163000 0 0 19262 667 394129 41063 591746 204730 0 0 0 0 0 0 0 0 0 303214 263703 303214 263703 288532 -58973 13641745 13582772 6103544 6103544 7538201 7479228 THE CORPORATION WAS FORMED FOR THE PURPOSE OF PROMOTING AND SUPPORTING ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN. 0 0 210031 TO PROMOTE AND SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN. 210031 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 X DIANE COX 2524362040 1724 GRAHAM AVENUE PO BOX 709 HENDERSON NC 27536 X CEDRIC JONES BOARD MEMBER 0.00 X 0 0 0 TARE DAVIS BOARD MEMBER 0.00 X 0 0 0 ABDUL RASHEED BOARD MEMBER 0.00 X 0 0 0 LESLIE SCOTT BOARD MEMBER 0.00 X 0 0 0 KEITH SMITH BOARD MEMBER 0.00 X 0 0 0 JOHN ALSTON BOARD MEMBER 0.00 X 0 0 0 MARSHALL TANNER BOARD MEMBER 0.00 X 0 0 0 SHANE MITCHELL BOARD MEMBER 0.00 X 0 0 0 BRYAN PFOHL BOARD MEMBER 0.00 X 0 0 0 ROBERT FLEMING BOARD MEMBER 0.00 X 0 0 0 DANNY WRIGHT PRESIDENT 0.00 X 0 0 0 WALTER POWELL TREASURER 0.00 X 0 0 0 DAN BRUMMITT VICE CHAIRMAN 0.00 X 0 0 0 DAVID SMITH CHAIRMAN 0.00 X 0 0 0 0 0 0 0 0 0 0 0 163000 163000 667 667 INCREMENTAL TAX REVENU 900099 41063 41063 41063 204730 41063 0 667 ADMINISTRATION SERVICE 111413 57741 53672 CAPITAL EXPENSES 111227 111227 INCREMENTAL TAX DISBURS 41063 41063 263703 210031 53672 0 885533 820434 2724 8850 12753488 12753488 13641745 13582772 6103544 6103544 6103544 6103544 X 7538201 7479228 7538201 7479228 13641745 13582772 -58973 0 X X 0 1 X 1 0 X 135000 144000 153000 178355 163000 773355 135000 144000 153000 178355 163000 773355 773355 8326 9026 6768 1185 667 25972 1200 41768 48151 20845 41063 153027 952354 0.81200 0.83580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 LAND AND LAND IMPROVEMENT 12753488 12753488 X 204730 0 204730 0 204730 263703 0 263703 0 263703 PART X, LINE 2: THE ORGANIZATION HAS IMPLEMENTED ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING PROVISIONS OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF THE DATE OF THE INDEPENDENT AUDITOR'S REPORT, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION'S INCOME TAX RETURNS FOR 2017 THROUGH 2021 ARE OPEN FOR EXAMINATION BY THE TAX AUTHORITIES. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS CONTRACTED WITH AN OUTSIDE CONSULTING SERVICE TO ASSUME THE REPRESENTATION AND LEADERSHIP POSITION ON BEHALF OF THE BOARD OF DIRECTORS AND PROVIDE ADMINISTRATIVE OVERSIGHT OF DAILY OPERATIONS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO SUCH COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990 WITH FINANCIAL ACCOUNTING RECORDS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE "CONFLICT OF INTEREST" POLICY WAS DEVELOPED WHEN THE CORPORATION WAS CREATED. ALL INVOLVED ARE REQUIRED, BY POLICY, TO ACKNOWLEDGE ANNUALLY. THE CORPORATION CONSISTENTLY MONITORS CONTRACTS AND PAY REQUESTS TO INSURE COMPLIANCE WITH POLICY. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE HELD IN THE CUSTODY OF KERR-TAR REGIONAL COG. REQUESTS FOR ANY PUBLIC INFORMATION ARE HONORED WHEN RECEIVED IN WRITING. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS FROM PRIOR YEAR.