2013-03-28T07:47:48-05:00 2012-12-31 BARNES BROCK CORNWELL & HEILMAN PLC 908 EDEN WAY N STE 201 CHESAPEAKE VA 233202640 990 2012-01-01 546059292 PORTSMOUTH PARTNERSHIP INC PORT 7573978473 200 HIGH STREET ROOM/SUITE 201 PORTSMOUTH VA 23704 BETTY JO GWALTNEY 7573978473 2013-02-01 KIMBERLY C PAINTER 7579615017 2013-03-28 2012 2016-02-25 16:41:14Z BETTY JO GWALTNEY 200 HIGH STREET SUITE 201 PORTSMOUTH VA 23704 192578 false X N/A X 1983 VA TO STIMULATE INDUSTRIAL AND ECONOMIC GROWTH WITHIN PORTSMOUTH, VIRGINIA 39 39 0 25 0 25000 25000 43000 29500 5168 16546 38427 36487 111595 107533 3350 0 0 0 0 0 155404 171425 158754 171425 -47159 -63892 1497810 1454183 15826 633 1481984 1453550 TO STIMULATE INDUSTRIAL AND ECONOMIC GROWTH WITHIN PORTSMOUTH, VIRGINIA false false TO STIMULATE INTEREST IN THE INDUSTRIAL AND ECONOMIC DEVELOPMENT OF THE CITY OF PORTSMOUTH, AND TO ASSIST, IMPROVE, AND DEVELOP EXISTING INDUSTRIES, AND TO ASSIST PROSPECTIVE INDUSTRIES ACQUISITION OF LAND AND BUILDINGS. false true false true false false false false false true false false false false true false true false false false false false false true false false false false false false false false false false false false false false false false false false false true 0 0 true 0 false false false false false false false false false false false false X 39 39 false false false false false false false true true false false true true true true true true true true false X X EXECUTIVE DIRECTOR 7573978473 200 HIGH STREET PORTSMOUTH VA 23704 X X BETTY JO GWALTNEY 30.00 X 0 0 0 MATTHEW JAMES 1.00 X 0 0 0 DAVID TYNCH 1.00 X 0 0 0 BRADFORD R CHERRY 1.00 X 0 0 0 DONALD W COMER JR 1.00 X 0 0 0 REV MELVIN O MARRINER 1.00 X 0 0 0 ROBERT E CLENDENIN 1.00 X 0 0 0 SENATOR L LOUISE LUCAS 1.00 X 0 0 0 JEFFREY J KEEVER 1.00 X 0 0 0 G ROBERT ASTON JR 1.00 X 0 0 0 HERBERT A HANEMAN 1.00 X 0 0 0 J KENNETH JOLLEY 1.00 X 0 0 0 JAMES BENTO 5.00 X X 0 0 0 JERROLD MILLER 1.00 X 0 0 0 JOHN E BOYLE 1.00 X 0 0 0 JOHN E HALL 1.00 X 0 0 0 CAMILLE CROFTON 1.00 X 0 0 0 JOHN STONE 1.00 X 0 0 0 JOSEPH DONNELLY 1.00 X 0 0 0 DR DEBORAH M DICROCE 1.00 X 0 0 0 MAURICE SLAUGHTER 1.00 X 0 0 0 MICHAEL KERNER 1.00 X 0 0 0 P EDWARD WEBB III 1.00 X 0 0 0 PEGGY MURPHY 1.00 X X 0 0 0 PETER SCHLECK 2.00 X X 0 0 0 PHILIP M RUDISILL 1.00 X X 0 0 0 ROGER L BROWN 1.00 X 0 0 0 SHANNON GLOVER 2.00 X X 0 0 0 STEPHEN J CHAPLIN 1.00 X 0 0 0 W CARROLL CREECY 1.00 X 0 0 0 WILLIAM H KLINE 1.00 X 0 0 0 WILLIAM HARGROVE III 1.00 X 0 0 0 WILLIAM S MAGANN JR 1.00 X 0 0 0 WILLIAM S MAGANN SR 1.00 X 0 0 0 JOSEPH M ODDIS 1.00 X 0 0 0 CHRISTINE N PIERSALL 1.00 X 0 0 0 MARK D SMITH 1.00 X 0 0 0 RICHARD E H WENTZ 1.00 X 0 0 0 DR MICHELLE W WOODHOUSE 1.00 X 0 0 0 false false false 25000 25000 MEMBERSHIP DUES 29500 29500 29500 16546 16546 2000 2000 2000 2000 118847 85045 33802 33802 MISCELLANEOUS 685 685 685 107533 31500 51033 300 8400 147 5948 37105 419 3137 3915 2249 CONTRACTUAL SERVICE HRC 94910 MEMBERSHIP DUES 5885 SPECIAL PROJECTS 5850 MEMORIAL/REMEMBERANCE 1695 1465 171425 0 0 0 17779 21030 605062 404062 388606 359774 19040 2925 221290 119352 105853 101938 361470 564454 1497810 1454183 826 633 15000 15826 633 X 1481984 1453550 1481984 1453550 1497810 1454183 -63892 35458 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true true false 151693 49755 101938 69597 69597 101938 163991 35458 21000 56458 107533 107533 192425 21000 21000 171425 171425 LIABILITY UNDER FIN 48 FOOTNOTE SCHEDULE D, PAGE 3, PART X THE ORGANIZATION ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE- LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION HAS ANALYZED THE TAX POSITIONS TAKEN IN ITS FILINGS WITH THE INTERNAL REVENUE SERVICE. THE FOUNDATION BELIEVES THAT ITS INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE AFFECT ON THE ORGANIZATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE FOUNDATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2012. REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XI, LINE 2D OVERHEAD REIMBURSEMENTS NETTED WITH EXPENSES 21,000 EXPENSE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XII, LINE 2D OVERHEAD REIMBURSEMENT NETTED WITH EXPENSES 21,000 SUPPLEMENTAL FINANCIAL INFORMATION SCHEDULE D, PAGE 4, PART XIII THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FOR THE THREE YEARS ENDING 2010, 2011 AND 2012 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. OP SAIL 77657 77657 71125 GOLF EVENT 41190 41190 13920 118847 118847 85045 85045 33802 ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE GOVERNING BODY RECEIVED A DRAFT OF THE TAX RETURN TO APPROVE BEFORE FINAL PROCESSING. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY BOARD SIGNS THE CONFLICT OF INTEREST POLICY. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A ANNUAL REVIEW AND APPROVAL BY THE BOARD. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B ANNUAL REVIEW AND APPROVAL BY THE BOARD. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS AVAILABLE UPON REQUEST. ADDITIONAL INFORMATION FORM 990, PART VII LINE 5 OTHER CHANGES IN NET ASSETS, REPRESENTS NET UNREALIZED LOSS ON INVESTMENTS OF (6,853). RECONCILIATION OF CHANGES - OTHER FORM 990, PART XI, LINE 9 OVERHEAD REIMBURSEMENTS NETTED WITH EXPENSES 21,000 OVERHEAD REIMBURSEMENT NETTED WITH EXPENSES -21,000