2018-05-14T09:33:26-05:00 2017-06-30 570381582 Elliott Davis LLCPLLC 100 Calhoun Street Suite 300 Charleston SC 29401 990 2016-07-01 451998194 Westedge Foundation Inc WEST 8437922677 18 Bee Street Charleston SC 29425 BILL BAKER CEO 8437922677 2018-05-10 1 Brandon T Renaud P00743576 8435777040 2018-05-10 75.148.57.234 2018-05-10 16:08:07 ED P 2C4721C6B1CA4E4BA0525C42AF0C911096884368 B7F70756E9615A85193AC7A6B69D1AAB8FBED087 2016 2021-01-29 14:40:06Z MICHAEL T MAHER 18 Bee Street Charleston SC 29425 9180548 0 X N/A X 2011 SC TO SUPPORT THE CITY OF CHARLESTON AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION. 13 13 0 0 0 0 0 9018832 0 161341 0 375 0 0 0 9180548 0 0 0 0 0 186902 0 0 0 0 304375 0 491277 0 8689271 1081750 14088140 4845665 9162784 -3763915 4925356 X TO SUPPORT THE CITY OF CHARLESTON AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION. 0 0 325335 161341 WestEdge (the "Project"), formerly known as the Horizon Redevelopment Project, is a bold economic and urban revitalization vision to advance knowledge-based sectors of the Charleston, South Carolina regional economy. The Project aspires to be a national model for research-oriented urban infill development, an innovative initiative that will incorporate all of the elements necessary to create a vital urban place in the knowledge-based economy. The Project will attract the attention and investment of established research and development businesses, and nurture the growth of start-up ventures focused on research and technology transfer.The Project site is a 20-acre (SEE CONTINUATION ON SCHEDULE O) component of a larger long-term development, and represents the most advantageous opportunity for the advancement of WestEdge. The Project site is an aggregation of contiguous parcels located in downtown Charleston along the Ashley River and adjacent to the MUSC campus. This prime development site is situated within Charleston's historic quarter, yet provides the opportunity for the density and scale necessary for creating a vibrant and economically-successful infill in concert with contemporary development standards. In its leadership capacity on the Project, the Foundation will have a controlling interest, options or letters of intent for all of the property included within a proposed offering, and will be empowered to make decisions on the disposition of this property to advance WestEdge under the Master Option Agreement (See Note 5). The Foundation is the contracting organization with the Master Developer. The Foundation has performed significant pre-development work and has provided this work-product to the Master Developer to assist and guide the Master Developer's efforts on the project. 325335 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 13 13 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X MICHAEL MAHER 8437922677 18 BEE STREET CHARLESTON SC 29425 Mr William A Baker CHAIR 2.80 X X 0 0 0 Ms Colleen Carducci Vice Chair 3.20 X X 0 0 0 Mr Thomas P Anderson Treasurer 3.20 X X 0 0 0 Mr Wally Seinsheimer Jr Secretary 0.30 X X 0 0 0 Councilman William Dudley Gregorie director 0.60 X 0 0 0 Dr Larry Olanoff director 0.20 X 0 0 0 Mr Montez Martin director 0.20 X 0 0 0 Mr Patrick W McKinney director 0.20 X 0 0 0 Ms Lisa Montgomery director 0.20 X 0 0 0 Mayor John Tecklenburg director 0.60 X 0 0 0 Ms Linda F Woodside director 0.20 X 0 0 0 Ms Robyn Frampton director 2.80 X 0 0 0 Ms Cheryl Kaynard director 2.30 X 0 0 0 Mr Michael T Maher CEO 40.00 X 155592 0 14126 155592 0 14126 1 0 1 0 0 9018832 9018832 9018832 CLOSING EXTENSION DEPO 531390 150000 150000 RECOVERY OF MASTER PLA 531390 9371 9371 RECOVERY OF DEVELOPER 531390 1970 1970 161341 375 375 9180548 161341 0 375 186902 93451 93451 135284 107500 27784 17800 17800 850 850 4132 4132 3000 3000 12991 12991 30464 30464 9814 9814 Gateway-Non-Developer C 80929 80929 MISCELLANEOUS 3984 3984 Telephone & Telecommuni 3514 3514 Technical services 1613 1613 491277 325335 165942 0 20436 73922 1402975 1061314 12611243 1081750 14088140 91256 23230 4754409 9139554 4845665 9162784 X -3763915 4925356 -3763915 4925356 1081750 14088140 8689271 0 X 1 X 0 1 0 X 9018832 9018832 161341 161341 9180173 9180173 0 8927027 8927027 8927027 8927027 253146 375 375 375 375 9180548 9180548 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 ESCROWED CLOSING EXTENSION DEPOSITS 150000 CONSTRUCTION IN PROGRESS 12461243 12611243 Cash advances - related parties 1750000 Master planning and development fees payable 651241 Accrued infrastructure costs 6159418 Due to related parties 578895 9139554 X Part X, Line 2: Management has evaluated the Foundation's tax positions and concluded that the Foundation has taken no uncertain tax positions for the year ended June 30, 2017. X X X 0 0 0 0 0 0 0 0 0 Mr Michael T Maher CEO 155592 0 0 0 0 0 0 0 14126 0 169718 0 0 0 X 1 9018832 FMV 0 0 0 Form 990, Part VI, Section A, line 2 Tom Anderson and Robyn Frampton have a business relationship, Lisa Montgomery and Dr. Larry Olanoff have a business relationship, and Mayor Tecklenburg, Colleen Carducci and Councilman Gregory have a business relationship. Form 990, Part VI, Section B, line 11b The WestEdge Executive Committee reviews the 990; the Executive Committee has authority to take action, or may choose to forward to the full Board. Form 990, Part VI, Section B, line 12c the policy is provided to all directors, principal officers, and top management annually. They are asked to sign a statement affirming that they have received a copy of the policy, have read and understand the policy, and agree to comply with the policy. Form 990, Part VI, Section B, line 15 The executive committee of the board of directors sets compensation for the ceo. The committee relies on performance evaluations, peer and industry comparisons, and any additional independent data to set the executive compensation. The board will conduct periodic reviews of its compensation policy and its implementation. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.