2023-09-11T17:06:50-05:00 2022-12-31 271181547 DUNCAN ASHE PA 7900 MCCLOUD RD SUITE 101 GREENSBORO NC 27409 990 2022-01-01 562039492 EAST MARKET STREET DEVELOPMENT CORPORATION EAST 3362751101 601-B EAST MARKET STREET GREENSBORO NC 27401 MACARTHUR SIMS EXECUTIVE DIRECTOR 3362751101 2023-09-05 1 MACARTHUR SIMS 999009999 0 W BARTH ASHE P01361072 3362856510 2023-09-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MACARTHUR SIMS 601-B EAST MARKET STREET GREENSBORO NC 27401 711037 0 X N/A X 1997 NC OFFERS COMPREHENSIVE REVITALIZATION SERVICES IN EAST GREENSBORO, NC THAT CREATE AND SUSTAIN ASSETS THROUGH ECONOMIC, BUSINESS AND COMMUNITY DEVELOPMENT SERVICES AND PROGRAMS THE CORPORATION IS HELPING REBUILD THE BUSINESS COMMUNITY IN EAST GREENSBORO THROUGH TWO OF ITS COMMITTEES, THE BUSINESS DEVELOPMENT COMMITTEE (BDC) AND THE ECONOMIC REVITALIZATION COMMITTEE (ERC) 15 15 3 0 137180 0 192861 189159 203262 210752 26490 -73522 31915 40517 454528 366906 0 0 0 0 185175 178570 0 0 14097 273367 306065 458542 484635 -4014 -117729 2504446 2028344 2370603 2012230 133843 16114 X OFFERS COMPREHENSIVE REVITALIZATION SERVICES IN EAST GREENSBORO, NC THAT CREATE AND SUSTAIN ASSETS THROUGH ECONOMIC, BUSINESS AND COMMUNITY DEVELOPMENT SERVICES AND PROGRAMS. THE CORPORATION IS HELPING REBUILD THE BUSINESS COMMUNITY IN EAST GREENSBORO THROUGH TWO OF ITS COMMITTEES, THE BUSINESS DEVELOPMENT COMMITTEE (BDC) AND THE ECONOMIC REVITALIZATION COMMITTEE(ERC). 0 0 198159 50 DEVELOP AND MARKET IDENTIFIED COMMERCIAL SITES TO ATTRACT NEEDED BUSINESSES IN THE CORRIDOR; DEVELOP SYSTEMS AND PROCESSES THAT EFFECTIVELY PROVIDE APPROPRIATE REVITALIZATION PROGRAMS FOR EAST GREENSBORO. 230345 210702 MAINTENANCE AND DEVELOPMENT/UPKEEP OF OWNED PROPERTIES IN TARGET DEVELOPMENT AREAS. 428504 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 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 15 0 1 3 1 1 1 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 X MACARTHUR SIMS 3362751101 601-B EAST MARKET STREET GREENSBORO NC 27401 MACARTHUR SIMS EXECUTIVE DIRECTOR 40.00 X X 78000 0 0 GOLDIE WELLS CHAIRMAN 0.50 X X 0 0 0 DOROTHY VANNOY VICE CHAIRMAN 0.50 X X 0 0 0 PHANALPHIE RHUE DIRECTOR 0.50 X 0 0 0 CHARLENE Y ARMSTRONG SECRETARY 0.25 X X 0 0 0 ELLEN MOORE DIRECTOR 0.50 X 0 0 0 SHARON HIGHTOWER DIRECTOR 0.25 X 0 0 0 ANDRENA COLEMAN TREASURER 0.25 X X 0 0 0 G MARK PRINCE DIRECTOR 0.25 X 0 0 0 J BRENT CHRISTENSEN DIRECTOR 0.25 X 0 0 0 LADANIEL GATLING II DIRECTOR 0.25 X 0 0 0 TIMOTHY MINOR DIRECTOR 0.25 X 0 0 0 GEORGE C JONES JR DIRECTOR 0.25 X 0 0 0 CARL W BROWER JR DIRECTOR 0.25 X 0 0 0 ERNESTINE SURGEON DIRECTOR 0.25 X 0 0 0 RODVEGAS INGRAM DIRECTOR 0.25 X 0 0 0 78000 0 0 0 0 0 0 0 153750 35409 189159 APARTMENT RENTALS 531110 210702 210702 BUSINESS DEVELOPMENT P 531110 50 50 210752 29 29 270580 344131 -73551 -73551 -73551 FORGIVENESS OF DEBT 900099 40207 40207 OTHER REVENUE 900099 310 310 40517 366906 50 137180 40517 78000 62400 7800 7800 77725 66544 11181 10911 9820 1091 11934 9864 1473 597 14411 14411 7215 7215 5736 4738 768 230 124300 119043 2774 2483 1147 1147 38699 38699 50513 50513 9109 8616 292 201 ECONOMIC DEVELOPMENT 50352 47413 1091 1848 NEIGHBORHOOD SUPPORT SE 2982 2982 MISCELLANEOUS 1526 595 931 BANK SERVICE CHARGE 75 62 6 7 484635 428504 42034 14097 184373 61407 79421 19374 42500 68750 2169285 414517 2076371 1754768 121781 124045 2504446 2028344 39447 10714 2314131 1982652 17025 18864 2370603 2012230 X 45124 -542 88719 16656 133843 16114 2504446 2028344 -117729 0 X X 0 1 X 1 1 1 X 154000 264865 245785 192858 189159 1046667 154000 264865 245785 192858 189159 1046667 1046667 129 806 61 38 29 1063 198254 193632 201278 202262 210702 1006128 2053858 14705 0.50960 0.48440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 69046 69046 118281 1973358 406427 1685212 8600 8090 510 1754768 RESTRICTED DEPOSITS 124045 124045 TENANT SECURITY DEPOSITS 18864 18864 X 366906 0 366906 0 366906 484635 0 484635 0 484635 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION FOR INCOME TAXES IS MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION IS REQUIRED TO FILE FORM 990 ANNUALLY TO RETAIN ITS TAX-EXEMPT STATUS. THE CORPORATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH ASC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740-10 REQUIRES THE CORPORATION TO ASSESS POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN WHERE THERE IS UNCERTAINTY ABOUT WHETHER THE TAX POSITION WILL ULTIMATELY BE SUSTAINED UPON EXAMINATION. THE CORPORATION IS UNAWARE OF ANY UNCERTAIN TAX POSITIONS THAT MEET THE CRITERIA UNDER ASC 740-10. THE CORPORATION'S TAX FILINGS ARE SUBJECT TO AUDIT BY FEDERAL TAXING AUTHORITIES. THE CORPORATION'S OPEN AUDIT PERIODS ARE 2019-2021. TO DATE, THE CORPORATION HAS NOT UNDERGONE ANY EXAMINATIONS BY APPLICABLE TAXING AUTHORITIES. FORM 990, PART VI, SECTION A, LINE 8B WHILE BOARD MEETING MINUTES ARE KEPT, CLOSED DOOR SESSIONS AND COMMITTEE MEETINGS ARE NOT INCLUDED IN THE CONTEMPORANEOUS DOCUMENTATION. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 IS CONDUCTED BY THE EXECUTIVE COMMITTEE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C REVIEWED AND ENFORCED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DISCUSSES COMPENSATION AMONGST THEMSELVES AND COMPARES THE SALARIES TO OTHER NON PROFIT ORGANIZATIONS IN THE AREA. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XII, LINE 2C: PROCESS FOR COMMITTEE ASSUMING RESPONSIBILITY FOR OVERSIGHT OF AUDIT HAS REMAINED THE SAME AS IN THE PRIOR YEAR.