2024-05-08T13:32:46-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 4140 FERNCREEK DRIVE STE 102 FAYETTEVILLE NC 28314 990 2022-07-01 810801545 FAYETTEVILLE CUMBERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION FAYE 9106787648 201 HAY STREET 401A FAYETTEVILLE NC 28301 ROBERT M VAN GEONS PRESIDENT & CEO 9104336772 2024-05-03 1 ROBERT VAN GEONS 999009999 1 AMY DOSIK P00890743 9104837131 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT M VAN GEONS 201 HAY STREET 401A FAYETTEVILLE NC 28301 1085561 0 X WWW.FCEDC.COM X 2015 NC TO ENGAGE IN ECONOMIC DEVELOPMENT ACTIVITIES INTENDED TO REDUCE THE BURDEN ON GOVERNMENT 10 10 8 13 0 0 0 0 1073229 1078465 0 7096 0 0 1073229 1085561 0 0 0 0 601706 567455 0 0 0 410266 487682 1011972 1055137 61257 30424 1237847 1186919 848303 766951 389544 419968 X THE FAYETTEVILLE CUMBERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION WAS FORMED IN DECEMBER 2015 TO ENGAGE IN ECONOMIC DEVELOPMENT ACTIVITIES INTENDED TO REDUCE THE BURDEN ON GOVERNMENT BY INCREASING THE TAX BASE OF THE COMMUNITY AND CREATE NEW JOBS IN THE CITY OF FAYETTEVILLE AND CUMBERLAND COUNTY. 0 0 THE ORGANIZATION WORKS TO ATTRACT NEW BUSINESSES AND INDUSTRIES TO THE AREA THUS INCREASING THE TAX BASE AND CREATING NEW JOBS. THE ORGANIZATION WORKS WITH EXISTING BUSINESSES AND INDUSTRY IN CUMBERLAND COUNTY TO ENSURE THAT THEIR NEEDS RELATED TO OPERATING EFFECTIVELY AND EFFICIENTLY ARE BEING MET BY THE PUBLIC AND PRIVATE SECTOR AND TO ASSIST THEM WITH PLANNED EXPANSION. 0 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 8 1 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 0 0 1 0 0 X VICKI EVANS 9106787750 201 HAY STREET SUITE 401A FAYETTEVILLE NC 28301 KELVIN FARMER CHAIRMAN 1.00 X X 0 0 0 VIVEK TANDON VICE CHAIRMAN 1.00 X X 0 0 0 KATHERYN COX TREASURER 1.00 X X 0 0 0 DYMOND SPAIN SECRETARY 1.00 X X 0 0 0 CARL MANNING DIRECTOR 1.00 X 0 0 0 DOHN BROADWELL DIRECTOR 1.00 X 0 0 0 GLENN ADAMS DIRECTOR 1.00 X 0 0 0 BILL HEDGEPETH DIRECTOR 1.00 X 0 0 0 MITCH COLVIN DIRECTOR 1.00 X 0 0 0 ELAINA BALL DIRECTOR 1.00 X 0 0 0 ROBERT M VAN GEONS PRESIDENT & CEO 40.00 X 196323 0 27975 ROB PATTON EXECUTIVE VP 40.00 X 111447 0 6382 307770 0 34357 2 0 1 0 0 DEVELOPMENT SERVICES 900099 1078465 1078465 1078465 7096 7096 1085561 1078465 0 7096 232795 269357 2349 28457 34497 2600 1119 31208 34411 6243 486 10622 1138 3016 LEASE EXPENSE 152782 SPECIAL PROJECTS 114874 NEW BUSINESS RECRUITMEN 64165 PRODUCT DEVELOPMENT 48680 16338 1055137 360398 449357 77801 60084 5465 5465 11944 11944 794183 0 0 672013 1237847 1186919 35688 68903 812615 698048 848303 766951 X 389544 419968 389544 419968 1237847 1186919 30424 0 X 0 1 X 0 0 11944 11944 0 0 RIGHT OF USE LEASE ASSET 672013 672013 LEASE LIABILITY 698048 698048 X 1098465 20000 20000 1078465 7096 7096 1085561 1068041 20000 20000 1048041 7096 7096 1055137 PART X, LINE 2: THE CORPORATION ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE CORPORATION BELIEVES THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE CORPORATION HAS EVALUATED ALL OF ITS TAX POSITIONS AND DETERMINED IT HAD NO MATERIAL UNCERTAIN INCOME TAX POSITIONS AS OF JUNE 30, 2023. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST INCOME 7,096. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST INCOME 7,096. X X 0 0 0 ROBERT M VAN GEONS PRESIDENT & CEO 172360 0 13550 0 10413 0 18312 0 9663 0 224298 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE CITY OF FAYETTEVILLE APPOINTS THREE VOTING BOARD MEMBERS AS DOES CUMBERLAND COUNTY. THE PRIVATE SECTOR APPOINTS TWO VOTING BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE NUMBER AND APPOINTMENT OF DIRECTORS MUST BE APPROVED BY CUMBERLAND COUNTY AND THE CITY OF FAYETTEVILLE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT. A COPY OF THE FORM 990 WILL BE PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY FOR BOTH BOARD MEMBERS AND EMPLOYEES WHO ARE REQUIRED TO SIGN A WRITTEN STATEMENT ANNUALLY DISCLOSING ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE PRESIDENT AND CEO IS SET BY A VOTE OF THE BOARD OF DIRECTORS. WHEN DEVELOPING COMPENSATION MODELS, THE ORGANIZATION REVIEWS OTHER ORGANIZATIONS STATE-WIDE, REGIONALLY, AND IN SOME CASES NATIONALLY TO ENSURE THAT THE COMPENSATION SET IS IN LINE WITH MARKET STANDARDS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE GENERALLY NOT PROVIDED FOR PUBLIC INSPECTION BUT FINANCIAL STATEMENT INFORMATION IS PRESENTED IN THE FORM 990 WHICH IS AVAILABLE FOR PUBLIC INSPECTION.