2023-10-03T15:36:17-07:00 2022-12-31 990 2022-01-01 550714069 ENTERPRISE PROPERTIES INC ENTE 3043404253 1116 Smith Street Charleston WV 25301 Nicole Christian President and CEO 3043404253 2023-10-03 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Nicole Christian-President and CEO 1116 Smith Street Charleston WV 25301 466749 0 X X 1992 WV Enterprise Properties, Inc. formed to partner with the State of WV to purchase and lease a building for the sole purpose of economic development and job retention in Charleston, WV. Enterprise Properties, Inc. is now the sole owner and lessor, facilitating continued retention of hundreds of jobs based in the city. 11 10 0 0 0 0 0 0 508128 466095 388 654 0 0 508516 466749 150000 150000 0 0 0 0 0 0 0 137405 209021 287405 359021 221111 107728 3268381 3161807 261358 47056 3007023 3114751 X Enterprise Properties, Inc. formed to partner with the State of WV to purchase and lease a building for the sole purpose of economic development and job retention in Charleston, WV. Enterprise Properties, Inc. is now the sole owner and lessor, facilitating continued retention of hundreds of jobs based in the city. 0 1 295949 150000 466749 Enterprise Properties, Inc. (EPI) leases an office building to CASCI, an agency which processes claims for the federal employees' insurance plan. EPI has been instrumental in keeping CASCI in Charleston, and has contributed to the overall economic wellbeing of the community by retaining hundreds of jobs with an annual payroll exceeding $27 million. Cash flow from the lease allows EPI to disburse economic development grants to an affiliated non-profit organization in furtherance of its economic development mission. 0 0 0 295949 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 X 11 10 0 1 0 0 1 1 0 1 1 1 0 1 1 1 1 1 0 0 0 0 WV X Debra S James CFO 3043404253 1116 Smith Street Charleston WV 25301 X Nicole Christian President and CEO 3 40 X X X X 0 150138 17209 Debra S James CFO 3 40 X X 0 96223 19309 Matthew Bond Chairman 1 1 X X 0 0 0 Tessa White Vice Chair 1 1 X X 0 0 0 Ericke Cage Director 1 1 X 0 0 0 Ellen Cappellanti Director 1 1 X 0 0 0 David Ferretti Director 1 1 X 0 0 0 Chris Morris Director 1 1 X 0 0 0 Jack Rossi Director 1 1 X 0 0 0 Jeff Sandene Director 1 1 X 0 0 0 George Smith Director 1 1 X 0 0 0 Patrick Smith Director 1 1 X 0 0 0 0 246361 36518 0 0 1 0 0 0 Rental Income-Econ Dev/Business Retention 531120 466095 466095 0 0 0 0 0 0 466095 654 654 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 466749 466749 0 0 150000 150000 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 60000 0 60000 0 3473 3473 0 0 3065 0 3065 0 0 0 0 0 0 0 0 0 0 0 4400 4400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 65449 65449 0 0 7 0 7 0 0 0 0 0 0 0 0 0 2089 2089 0 0 0 0 0 0 61918 61918 0 0 7929 7929 0 0 Membership dues 400 400 0 0 Miscellaneous 291 291 0 0 359021 295949 63072 0 200036 152380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3000 3955841 949414 3068345 3006427 3268381 3161807 813 18495 0 0 84688 28333 0 0 0 0 0 0 175755 0 0 0 102 228 261358 47056 X 3007023 3114751 0 0 3007023 3114751 3268381 3161807 107728 0 0 0 0 0 X X 0 1 X 1 0 0 1541026 1541026 0 2414815 949414 1465401 0 0 0 0 0 0 0 0 0 0 0 0 3006427 0 Due to affiliate 228 228 X 466749 0 0 0 0 0 466749 0 0 0 466749 359021 0 0 0 0 0 359021 0 0 0 359021 Schedule D, Part X, Line 2 The following footnote is included in audited consolidated financial statements of the reporting organization and its affiliates. "The Alliance and its subsidiaries are classified as tax-exempt organizations under Sections 501(c)(3), (4) and (6) of the Internal Revenue Code as described elsewhere in Note 1 to the consolidated financial statements and, therefore, are not subject to taxes on income derived from their exempt activities." 1 CADCO Foundation Inc 1116 Smith Street Charleston WV 25301 550680725 501c3 150000 0 Economic Development 1 0 Schedule I, Part I, Line 2 Enterprise Properties, Inc. granted $150,000 to its affiliate, CADCO Foundation, Inc. in furtherance of its mission to promote economic development and job creation/retention in its service area. The grant was designated for support of a business incubator which serves entrepreneurial companies. 0 0 0 Nicole Christian President and CEO 0 150138 0 0 0 0 0 7500 0 9709 0 167347 0 0 Schedule J, Part II The reporting organization has no employees and did not pay any wages. Schedule J is presented, as per instructions, to report compensation paid by a related organization, Capital Area Development Corporation of West Virginia (CADCO). Nicole Christian serves as President & CEO of both the reporting organization and related organization, CADCO. Ms. Christian's compensation paid by the related organization was determined by a compensation committee and approved by the related organization's Executive Committee. Various Entity 0 No reportable transactions > threshold 0 Schedule L, Part IV The following directors of the organization were also officers, directors, trustees, or direct or indirect owners of unrelated entities doing business with this organization and its affiliate, Capital Area Development Corporation of West Virginia. No transactions are reported above in Part IV because they do not exceed applicable reporting thresholds. All transactions between the reporting organization and its affiliate, and such unrelated entities, were conducted in the normal course of business under terms extended to the general business community and the public. No transactions resulted in a lack of independence for the directors listed below with respect to this reporting organization. Ellen Cappellanti, member of Jackson Kelly PLLC - legal services. Form 990, Header, Line A Filing date extended by IRS to November 15, 2023. Form 990, Part III, Line 3 A new lease was negotiated with the tenant effective 10/01/2022 which resulted in additional building expenses assumed by the lessor and reduced rental revenues due to reduction of leased space in the building. Form 990, Part IV, Line 28c See Schedule L, Part V. There were no reportable transactions in excess of applicable thresholds, and no impairment of independence with respect to this organization. Form 990, Part VI, Section A, Line 1b One member of the governing body is employed as President & CEO of a related organization and, therefore, is not independent. Form 990, Part VI, Section A, Line 3 Related organization, Capital Area Development Corporation of West Virginia (CADCO), performs all managerial and administrative functions for Enterprise Properties, Inc. Form 990, Part VI, Section A, Line 6 The sole member of Enterprise Properties, Inc. is its related organization, CADCO, identified above and on Schedule R. Form 990, Part VI, Section A, Line 7a See above. Form 990, Part VI, Section A, Line 9 Chair - Matthew Bond, United Bank, 500 Virginia St., E., Charleston, WV 25301. Vice Chair - Tessa M. White, P.O. Box 11867, Charleston, WV 25338; Directors - Ericke Cage, West Virginia State University, P O Box 1000, Institute, WV 25112; Ellen S. Cappellanti, Jackson Kelly PLLC, 500 Lee Street, Suite 1600, Charleston, WV 25301; Nicole Christian, Charleston Area Alliance, 1116 Smith Street, Charleston, WV 25301; David P. Ferretti, Spilman Thomas & Battle, PLLC, 300 Kanawha Boulevard, East, Charleston, WV 25301; Chris Morris, CityNet, 233 Virginia St., E., Charleston, WV 25301; Jack Rossi, Summit Community Bank, 2402 Mountaineer Boulevard, Charleston, WV 25309; Jeff Sandene, Charleston Area Medical Center, 501 Morris Street, Charleston, WV 25301; George Smith, O.V. Smith & Sons, 4510 Pennsylvania Avenue, Charleston, WV 25302; Patrick Smith, Baker Tilly, 101 Washington Street, E., Charleston, WV 25301 Form 990, Part VI, Section B, Line 11b The CFO and CEO of the related organization prepared and reviewed, respectively, Form 990 which was then distributed to all officers and directors for review and approval prior to filing. Form 990, Part VI, Section B, Line 12c Conflicts of interest with respect to officers, directors and employees of the organization and its affiliates is addressed in the organization's Bylaws, Accounting Manual, and Personnel Policies. The organization's conflict of interest policy is presented to directors and employees at periodic training and orientation sessions. Directors and employees are charged with professional conduct which includes self-monitoring and reporting of potential or perceived conflicts of interest. Management and the Board of Directors advise as to whether or not any perceived conflict is valid. Directors are asked to abstain from discussions or decisions in matters where there may be conflict of interest. The organization has a Code of Ethics statement which is accepted via signature by directors and employees. Form 990, Part VI, Section B, Line 15 Enterprise Properties, Inc. did not compensate any directors and has no direct employees. Officers and key employees of CADCO perform executive duties for Enterprise Properties through a management service agreement as described in Schedule R. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request, either by providing copies or by inspection at its office. Form 990, Part VII, Section A, Line 1a The President/CEO and CFO are employed by related organization, CADCO. Amounts shown in Columns E and F were paid by the related organization. Estimated weekly hours devoted by the CEO and CFO in performance of their duties to the related organization approximate 40 each. It is estimated that each member of the Board of Directors spends on average one hour weekly in governance activities for this organization and its affiliates, combined, with various meetings scheduled monthly, bi-monthly, and as needed. Form 990, Part XII, Line 2c The organization's CFO compiled the financial statements. An independent CPA firm audited the consolidated financial statements of the organization and its affiliates. Finance Committee selects the audit firm and provides audit oversight. Capital Area Development Corporation of WV 1116 Smith Street Charleston WV 25301 556024192 Economic Development WV 501(c)(4) N/A 0 CADCO Foundation Inc 1116 Smith Street Charleston WV 25301 550680725 Economic Development WV 501(c)(3) 12aType1 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 CADCO Foundation Inc b 150000 Enterprise Properties, Inc. granted $150,000 to CADCO Foundation, Inc. for economic and community development programs. Capital Area Development Corporation of WV m 60400 Enterprise Properties, Inc. paid membership dues of $400 to Capital Area Development Corporation of West Virginia (CADCO). All administrative and managerial functions (types m, n and o) of EPI are performed by CADCO staff for an annual management fee of $60,000. Capital Area Development Corporation of WV r 126 As is common with related organizations managed by shared staff and utilizing shared resources, Enterprise Properties and its affiliate, CADCO, use an intercompany due to/from account to capture transfers and other transactions (types r and s) during the normal course of recordkeeping. The net change in EPI's payable to CADCO in 2022 was $126.