2024-11-07T13:21:19-07:00 2023-12-31 990 2023-01-01 550714069 ENTERPRISE PROPERTIES INC ENTE 3043404253 1116 Smith Street Charleston WV 25301 Debra James Chief Financial Officer 3043404253 2024-10-31 1 2023 2024-10-15 13:58:12Z Mara C Boggs 1116 Smith Street Charleston WV 25301 340483 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. 4 4 0 0 0 0 0 0 466095 339996 654 487 0 0 466749 340483 150000 0 0 0 0 0 0 0 0 209021 483419 359021 483419 107728 -142936 3161807 3027706 47056 55891 3114751 2971815 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 0 410694 0 340483 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. 0 0 0 410694 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 X 4 4 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 5 40 X X X X 0 150138 25443 Debra S James CFO 3 40 X X 0 97797 20187 Matthew Bond Chairman 1 1 X X 0 0 0 Tessa White Vice Chair 1 1 X X 0 0 0 Jack Rossi Director 1 1 X 0 0 0 Adam Krason Director 1 1 X 0 0 0 0 247935 45630 0 0 1 0 0 0 Rental income - Economic Development/Business Retention 531120 339996 339996 0 0 0 0 0 0 339996 487 487 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 340483 340483 0 0 60000 0 60000 0 9459 0 9459 0 3266 0 3266 0 317050 317050 0 0 63232 63232 0 0 29909 29909 0 0 Dues 400 400 0 0 Miscellaneous 103 103 0 0 483419 410694 72725 0 152380 64625 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3000 3000 3972727 1012646 3006427 2960081 3161807 3027706 18495 23954 0 0 28333 28333 0 0 0 0 0 0 0 0 0 0 228 3604 47056 55891 X 3114751 2971815 0 0 3114751 2971815 3161807 3027706 -142936 0 0 0 0 0 X X 0 1 X 1 0 0 1541026 1541026 0 2431701 1012646 1419055 0 0 0 0 0 0 0 0 0 0 0 0 2960081 0 Due to affiliate 3604 3604 X 340483 0 0 0 0 0 340483 0 0 0 340483 483419 0 0 0 0 0 483419 0 0 0 483419 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 0 0 Nicole Christian President and CEO 0 150138 0 0 0 0 0 15000 0 10443 0 175581 0 0 Schedule J, Part I, Line 4 The CEO of this reporting organization and its affiliate, Capital Area Development Corporation of West Virginia, entered into a mutual agreement with the organization to terminate her employment agreement effective December 31, 2023. Under the terms of the transition agreement, the organization agreed to provide severance benefits equal to four months salary and health benefits. All such payments were disbursed in early 2024 and, as such, will be reported on Form 990 for 2024. 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. Ms. Christian served as President and CEO of both the reporting organization and the related organization. Ms. Christian's compensation paid by the related organization was determined by a compensation committee and approved by the related organization's Executive Committee. Form 990, Header, Line A Filing date was extended by IRS to November 15, 2024. 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 Enterprises properties. See Schedule R. 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 Matthew Bond United Bank 500 Virginia St., E. Charleston, WV 25301 Tessa M. White Tessa M. White, PLLC P.O. Box 18387 South Charleston, WV 25303 Jack Rossi Summit Community Bank 2402 Mountaineer Boulevard Charleston, WV 25309 Adam R. Krason ZMM Architects & Engineers 222 Lee Street, West Charleston, WV 25302 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 abstain from 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 attendance at 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 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 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 3377 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 increase in EPI's payable to CADCO in 2023 was $3,377,