2024-08-15T11:52:21-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-10-01 201055492 PENICK VILLAGE FOUNDATION INC PENI 9106920300 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 CHRISTOPHER MOONEY CHIEF FINANCIAL OFFICER 9106920300 2024-08-15 1 0 KATHERINE A WARLICK P02065266 7049985200 2024-08-15 2022 2024-08-08 14:25:15Z ALVA S CROMARTIE III 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 1830141 0 X WWW.PENICKVILLAGE.ORG/PENICK-VILLAGE-FOUNDATION X 2003 NC THE FOUNDATION'S MISSION IS TO RAISE AND DISTRIBUTE FUNDS TO PENICK VILLAGE, INC. 13 13 0 55 0 0 686471 1511604 0 0 103615 318537 -56199 -37725 733887 1792416 702843 424726 0 0 0 0 0 0 0 10606 336708 713449 761434 20438 1030982 1996780 3162560 310935 308878 1685845 2853682 PENICK VILLAGE FOUNDATION CONTINUES ITS MISSION TO RAISE AND DISTRIBUTE FUNDS TO PENICK VILLAGE, INC. 0 0 424726 424726 RAISE AND DISTRIBUTE FUNDS TO SUPPORT THE CHARITY WORK, MISSION AND VISION OF PENICK VILLAGE, INC. 424726 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CHRISTOPHER MOONEY CFO 9106920300 500 E RHODE ISLAND AVE SOUTHERN PINES NC 28387 JANICE DIXON BOARD MEMBER 1.00 X 0 0 0 JIM DAVIS VICE PRESIDENT 1.00 X X 0 0 0 PATTY POTTLE BOARD MEMBER 1.00 X 0 0 0 HUGH BINGHAM BOARD MEMBER 1.00 X 0 0 0 SUSANNA LOH BOARD MEMBER 1.00 X 0 0 0 KELLY CHANDLEY BOARD MEMBER 1.00 X 0 0 0 BOB DARST TREASURER 1.00 X X 0 0 0 JIM HEISEY PRESIDENT 1.00 X X 0 0 0 BARBARA HOLDERBY BOARD MEMBER 1.00 X 0 0 0 ADAIR WORONOFF SECRETARY 1.00 X X 0 0 0 LANE WEST BOARD MEMBER 1.00 X 0 0 0 MICAH NIEBAUER BOARD MEMBER 1.00 1.00 X 0 0 0 LYNNE HEALY BOARD MEMBER 1.00 1.00 X 0 0 0 JOHN FRIZZELL BOARD MEMBER 1.00 1.00 X 0 0 0 ALVA CROMARTIE CEO 1.00 39.00 X 0 231660 39215 TERRY KEES CFO 1.00 39.00 X 0 205137 16858 CAROLINE EDDY CDO 1.00 39.00 X 0 125042 13756 0 561839 69829 0 0 1 0 0 155562 1356042 1511604 73042 73042 245495 0 245495 245495 245495 0 155562 37725 -37725 -37725 1792416 0 0 280812 417585 417585 7141 7141 322533 322533 GENERAL ADMINISTRATIVE 14175 14175 761434 424726 336708 0 560761 68723 269108 40000 40000 1882202 2286836 5855 5855 1996780 3162560 310935 308878 310935 308878 X 1592417 2331729 93428 521953 1685845 2853682 1996780 3162560 X 1030982 -192552 329407 X 0 1 X 1 0 X 768757 460651 397704 686471 1511604 3825187 768757 460651 397704 686471 1511604 3825187 0 0 0 3825187 43074 38184 42469 97632 73042 294401 43074 38184 42469 97632 73042 294401 811831 498835 440173 784103 1584646 4119588 0.92850 0.92030 0.07150 0.07970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: PENICK VILLAGE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC; ACCORDINGLY, THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2023 AND 2022. ART SHOW 155562 155562 37725 155562 155562 37725 37725 -37725 1 PENICK VILLAGE INC 500 EAST RHODE ISLAND AVE SOUTHERN PINES NC 28387 560729010 501 (C) (3) 417585 0 GENERAL SUPPORT 1 SCHOLARSHIPS 4 7141 PART I, LINE 2: THE ORGANIZATION ONLY MAKES GRANTS AND OTHER ASSISTANCE TO PENICK VILLAGE, INC., ITS RELATED ORGANIZATION. 0 0 0 0 0 0 0 0 0 ALVA CROMARTIE CEO 0 201369 0 30291 0 0 0 1132 0 38083 0 270875 0 0 TERRY KEES CFO 0 194371 0 10766 0 0 0 0 0 16858 0 221995 0 0 PART I, LINE 3 COMPENSATION FOR THE CEO IS SET BY A PENICK VILLAGE, INC., A RELATED ORGANIZATION. PENICK VILLAGE USES THE FOLLOWING METHODS TO ESTABLISH THE CEO'S COMPENSATION. COMPENSATION COMMITTEE COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS OF PENICK VILLAGE ELECTS MEMBERS OF THE FOUNDATION'S BOARD. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE ORGANIZATION'S OFFICERS, THEN SENT TO THE FINANCE COMMITTEE FOR REVIEW AND COMMENTS AND THEN PRESENTED TO THE FULL BOARD OF DIRECTORS. IT WILL BE REVIEWED BY THE OFFICERS AND FINANCE COMMITTEE MEMBERS BEFORE FILING WITH THE IRS AND WITH THE FULL BOARD IF THEY ARE SCHEDULED TO MEET BEFORE THE FILING DEADLINE. IF NOT IT WILL BE SENT TO THEM BEFORE THE FILING DEADLINE AND REVIEWED AT THE NEXT SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, BOARD MEMBERS AND EX-OFFICIO MEMBERS ARE COVERED AND REQUIRED TO REPORT ANNUALLY ANY CONFLICTS THAT MAY EXIST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPOINTED AN AD-HOC COMPENSATION REVIEW COMMITTEE TO DETERINE THE COMPENSATION FOR THE CEO OF THE ORGANIZATION. THIS REVIEW IS CONDUCTED ON AN ANNUAL BASIS AND USES DATA FROM OTHER ORGANIZATIONS AS WELL AS WAGE SURVEYS TO DETERMINE THE COMPENSATION. THE RESULTS ARE DOCUMENTED IN THE CEO'S PERSONNEL FILE IN HR. THE CEO CONDUCTS ANNUAL REVIEWS FOR THE CFO AND COO OF THE ORGANIZATION. BASED ON THOSE REVIEWS AND WAGE SURVEYS, THE CEO DETERMINES THE UPCOMING YEAR COMPENSATION FOR THESE KEY EMPLOYEES. THE EVALUATION AND ADVICE OF PAYROLL ARE DOCUMENTED IN THE PERSONNEL FILES IN HR. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAIILABLE TO THE PUBLIC UPON REQUEST AT THE ADMINISTRATION OFFICES. FORM 990, PART XI, LINE 9: TRANSFER OF PERMANENT NET ASSETS 329,407. PENICK VILLAGE INC 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 560729010 TO RAISE AND HOLD FUNDS FOR CHARITABLE PURPOSES NC 501(C)(3) LINE 10 N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1