2022-01-18T16:02:27-06:00 2021-06-30 561342467 WILLIAM L STARK AND COMPANY POST OFFICE BOX 911 HENDERSON NC 27536 990 2020-07-01 203115014 KERR-TAR REGIONAL ECONOMIC DEVELOPMENT CORPORATION KERR 2524362040 1724 GRAHAM AVENUE PO BOX 709 HENDERSON NC 27536 DAVID SMITH CHAIRMAN 2524362040 2022-01-18 1 DAVID SMITH 999009999 M CURTIS AVERETTE JR P00833896 2524920008 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAVID SMITH 1724 GRAHAM AVENUE PO BOX 709 HENDERSON NC 27536 678719 0 X N/A X 2005 NC 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. 14 14 0 0 0 0 153000 178355 0 0 6768 19262 106824 394129 266592 591746 0 0 0 0 0 0 0 0 0 304908 303214 304908 303214 -38316 288532 13463628 13639021 6216683 6103544 7246945 7535477 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 234619 TO PROMOTE AND SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES IN THE FOLLOWING FOUR NORTH CAROLINA COUNTIES: FRANKLIN, GRANVILLE, VANCE AND WARREN. 234619 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 3 0 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 DANNY WRIGHT 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 WALTER POWELL TREASURER 0.00 X 0 0 0 DAN BRUMMITT VICE CHAIRMAN 0.00 X 0 0 0 MICHAEL SHRIVER SECRETARY 0.00 X 0 0 0 DAVID SMITH CHAIRMAN 0.00 X 0 0 0 0 0 0 0 0 0 0 0 178355 178355 1185 1185 105050 86973 18077 18077 18077 ESCROW FUNDS 900099 333041 333041 INCREMENTAL TAX REVENU 900099 40243 40243 TIMBER PROCEEDS 900099 20695 20695 150 150 394129 591746 412206 0 1185 10724 10724 8575 8575 260 260 79 79 CAPITAL EXPENSE 173265 173265 ADMINISTRATION SERVICES 59760 59760 INCREMENTAL TAX DISBURS 40243 40243 MARKETING EXPENSE 5660 5660 4648 4648 303214 234619 68595 0 981496 885533 12482132 12753488 13463628 13639021 6216683 6103544 6216683 6103544 X 7246945 7535477 7246945 7535477 13463628 13639021 288532 0 X 0 1 X 1 0 X 144000 135000 144000 153000 178355 754355 144000 135000 144000 153000 178355 754355 754355 9711 8326 9026 6768 1185 35016 1200 1200 41768 48151 20845 113164 902535 0.83580 0.84120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 LAND AND LAND IMPROVEMENTS 12753488 12753488 X 591746 0 591746 0 591746 303214 0 303214 0 303214 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 2020 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.