2025-11-04T17:25:21-07:00 2024-12-31 990 2024-01-01 550714069 ENTERPRISE PROPERTIES INC ENTE 3043404253 1116 Smith Street Charleston WV 25301 Debra James Chief Financial Officer 3043404253 2025-10-28 1 2024 2025-03-06 01:10:19Z Mara C Boggs - President and CEO 1116 Smith Street Charleston WV 25301 5785436 0 X X 1992 WV Economic development and job retention in Charleston, WV through commercial lease of prime office building 4 4 0 0 0 0 0 0 339996 113332 487 2731904 0 0 340483 2845236 0 200000 0 0 0 0 0 0 0 483419 302419 483419 502419 -142936 2342817 3027706 5314632 55891 0 2971815 5314632 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. became the sole owner and lessor, facilitating continued retention of hundreds of jobs based in the city. 0 1 420869 200000 113332 Enterprise Properties, Inc. (EPI) leased 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 420869 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 3 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 Debra S James CFO 5 40 X X X 0 138274 24307 Nicole Christian President and CEO - former 5 40 X X X 0 59813 11035 Mara Boggs President and CEO effective 10/01/24 5 40 X X 0 64726 19 Matthew Bond Chairman 1 1 X X 0 0 0 Tessa White Vice Chair 1 1 X X 0 0 0 Jack Rossi Director 1.00 1 X 0 0 0 Adam Krason Director 1 1 X 0 0 0 0 262813 35361 0 1 1 0 0 0 Economic Development Lease Revenue 531120 113332 113332 0 0 0 0 0 0 113332 172104 172104 0 0 0 0 0 0 0 0 0 0 0 0 0 5500000 0 2940200 0 2559800 2559800 2559800 0 0 0 2845236 2845236 0 0 X 200000 200000 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 16170 0 16170 0 5330 0 5330 0 0 0 0 0 0 0 0 0 0 0 82500 82500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 109757 109757 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 20916 20916 0 0 7261 7261 0 0 Bank fees 50 0 50 0 Dues 400 400 0 0 Miscellaneous 35 35 0 0 502419 420869 81550 0 64625 0 0 5314632 0 0 0 0 0 0 0 0 0 0 0 0 3000 0 0 0 2960081 0 0 0 0 0 0 0 0 0 0 0 3027706 5314632 23954 0 0 0 28333 0 0 0 0 0 0 0 0 0 0 0 3604 0 55891 0 X 2971815 5314632 0 0 2971815 5314632 3027706 5314632 2342817 0 0 0 0 0 X X 0 1 X 1 1 1 0 0 X 2845236 0 0 0 0 0 2845236 0 0 0 2845236 502419 0 0 0 0 0 502419 0 0 0 502419 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 1116 Smith Street Charleston WV 25301 550680725 501c3 200000 0 Economic Development 1 0 Schedule I, Part I, Line 2 Enterprise Properties granted $200,000 to its affiliate, CADCO Foundation, Inc., in furtherance of its mission to facilitate economic development and job retention in Charleston, WV and the surrounding area. The grant was designated for support of a small business incubator which serves entrepreneurial companies. 1 0 0 Debra S James CFO 0 133274 0 5000 0 0 0 13790 0 10517 0 162581 0 0 Nicole Christian President and CEO - former 0 59813 0 0 0 0 0 5981 0 5054 0 70848 0 0 Schedule J, Part I, Line 4 Former President & CEO, Nicole Christian, resigned effective 12/31/23 and received severance benefits which were disbursed in January 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, and Ms. James as CFO of both the reporting organization and the related organization. Compensation paid by the related organization was determined and approved by the related organization's Executive Committee. Form 990, Header, Line A Filing date was extended by IRS to November 15, 2025. Form 990, Part III, Line 3 With the rise of remote workforce, the lessee chose to reduce their footprint and relocated to a smaller building. In May 2024, Enterprise Properties sold the building and land which is currently being redeveloped as the new headquarters of a major employer in Charleston, WV. Proceeds of the real estate sale were retained by Enterprise Properties throughout 2024, pending analysis of opportunities for redeployment of funds into other economic development initiatives. Remaining cash assets were distributed in early 2025 and the entity was dissolved at the same time. 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. Form 990, Part VI, Section A, Line 6 The sole member of Enterprise Properties 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 did not compensate any directors and does not have any employees. Officers and key employees of related organization, 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 IX, Line 11g Real estate commission 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 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 b 200000 Enterprise Properties granted $200,000 to CADCO Foundation for economic development initiatives. Capital Area Development Corporation of WV m 60400 Enterprise Properties 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 3604 As is common with related organizations managed by shared staff and utilizing shared resources, EPI 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 decrease in EPI's payable to CADCO in 2024 was $3,604. The organization timely filed Form 8868 which was accepted by the IRS on 04/21/25. The extended due date for filing is 11/15/25.