2024-01-30T09:57:26-06:00 2023-06-30 541967771 CAVANAUGH NELSON PLC 999 WATERSIDE DRIVE SUITE 2250 NORFOLK VA 23510 990 2022-07-01 134311862 FRANKLIN SOUTHAMPTON ECONOMIC DEVELOPMENT INC FRAN 7575621958 601 N MECHANIC STREET 300 FRANKLIN VA 23851 KARL HECK PRESIDENT 7575621958 2024-01-30 1 KARL HECK 999009999 0 MARK A NELSON P00358004 7575784900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KARL HECK 601 N MECHANIC STREET SUITE 300 FRANKLIN VA 23851 388962 0 X WWW.FRANKLINSOUTHAMPTONVA.COM X 2005 VA TO PROMOTE, MARKET, AND OVERSEE DEVELOPMENT ACTIVITIES FOR THE CITY OF FRANKLIN AND SOUTHAMPTON COUNTY 6 6 4 0 0 0 377000 378000 0 0 16007 10362 13758 600 406765 388962 0 0 0 0 250607 257767 0 0 0 227849 193223 478456 450990 -71691 -62028 1287926 1240197 24 14323 1287902 1225874 TO DIVERSIFY THE ECONOMY, CREATE HIGH QUALITY JOBS, AND PROVIDE A FUTURE FOR THE FAMILIES AND YOUTH OF FRANKLIN AND SOUTHAMPTON COUNTY. 0 0 370333 ACTIVITES TO PROMOTE THE ECONOMIC VITALITY OF FRANKLIN AND SOUTHAMPTON COUNTY INCLUDING:MARKET THE COMMUNITY'S ASSETS TO ATTACT NEW BUSINESSES WITH CAPITAL INVESTMENT AND OPPORTUNITIES FOR JOB CREATION, INCLUDING COORDINATING LOCAL AND STATE INCENTIVE PROGRAMS. PROVIDE TECHINCAL TRAINING AND ASSITANCE TO EXISTING BUSINESSES, INCLUDING OPERATION OF THE FRANKLIN BUSINESS CENTER. DEVELOP PROGRAMS TO FOSTER SMALL BUSINESS GROWTH AND ENTREPRENEURSHIP. CREATE AN ATMOSPHERE TO FOSTER TOURISM THAT WILL TAKE ADVANTAGE OF THE COMMUNITY'S EXISTING NATURAL AND HISTORIC ASSETS. 370333 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 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 1 0 0 4 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 VA X THE ORGANIZATION 7575621958 601 N MECHANIC STREET 300 FRANKLIN VA 23851 MARSHALL RABIL DIRECTOR 1.00 X 0 0 0 HARRIET BAIN DUCK TREASURER 1.00 X X 0 0 0 MEGHAN COUNCILL CHAIRMAN 1.00 X X 0 0 0 ROBERT POPE SECRETARY 1.00 X 0 0 0 BRIAN HEDGEPETH VICE CHAIRMAN 1.00 X X 0 0 0 WILL HOLT DIRECTOR 1.00 X 0 0 0 KARL HECK PRESIDENT 40.00 X 85000 0 2550 85000 0 2550 0 0 0 0 0 200000 178000 378000 10362 10362 MISCELLANEOUS INCOME 900099 600 600 600 388962 600 0 10362 85000 63750 21250 122920 122920 5536 4871 665 27946 24594 3352 16365 14402 1963 20868 20868 22261 22261 14772 7386 7386 1560 1560 14256 14256 27374 27374 3680 1840 1840 1954 1954 3630 1815 1815 SPECIAL PROJECTS 36318 36318 HREDA MEMBERSHIP 29438 29438 OTHER EXPENSES 7262 7262 DONATIONS/CONTRIBUTIONS 5000 5000 4850 4850 450990 370333 80657 0 1283531 1219548 304 1088 1088 96205 90900 3003 5305 0 14256 1287926 1240197 24 67 0 14256 24 14323 X 1272902 1210874 15000 15000 1287902 1225874 1287926 1240197 -62028 0 X X 0 1 X 1 0 X 432000 445000 694785 377000 378000 2326785 432000 445000 694785 377000 378000 2326785 916920 1409865 14170 13977 7939 16007 10361 62454 105 1452 633 13758 600 16548 2405787 0.58600 0.59700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 96205 90900 5305 5305 OPERATING LEASE LIABILITY 14256 14256 X 388962 0 388962 0 388962 450990 0 450990 0 450990 PART X, LINE 2: THE ORGANIZATION'S MANAGEMENT HAS EVALUATED THE IMPACT OF FASB ASC 740 TO ITS FINANCIAL STATEMENTS AND IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023. THE ORGANIZATION'S ANNUAL TAX RETURNS (FORM 990) ARE GENERALLY SUBJECT TO EXAMINATION BY AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED AND CONSEQUENTLY, THE ORGANIZATION'S TAX RETURNS FILED FOR THE YEARS ENDED JUNE 30, 2022, 2021, AND 2020 REMAIN SUBJECT TO EXAMINATION. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S AUDIT COMMITTEE REVIEWS THE FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS SIGN STATEMENTS ANNUALLY REGARDING COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A ON AN ANNUAL BASIS THE BOARD REVIEWS AND APPROVES THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT. 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. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.