2024-05-14T15:09:28-05:00 2023-06-30 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2022-07-01 561909969 EAST CAROLINA COMMUNITY DEVELOPMENT INC EAST 2525043996 PO BOX 2400 BEAUFORT NC 28516 KEITH D WALKER CEO & PRESIDENT 2525043996 2024-05-14 1 KEITH WALKER 999009999 0 CASEY H PATTERSON P01281279 3362944494 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEITH D WALKER PO BOX 2400 BEAUFORT NC 28516 3018625 0 X WWW.ECCDI.COM X 1995 NC TO IMPROVE AND ENHANCE THE STANDARD OF LIVING OF THE PEOPLE OF NORTH CAROLINA BY PROMOTING SMALL BUSINESS DEVELOPMENT AND DEVELOPING AFFORDABLE HOUSING WITHIN ITS SERVICE AREA. 8 7 5 8 0 0 341571 376516 1796021 2363827 26996 278282 0 0 2164588 3018625 0 0 0 0 720255 847488 0 0 0 1876556 2623396 2596811 3470884 -432223 -452259 21056335 28723511 12347449 16284942 8708886 12438569 X TO IMPROVE AND ENHANCE THE STANDARD OF LIVING OF THE PEOPLE OF NORTH CAROLINA BY PROMOTING SMALL BUSINESS DEVELOPMENT AND DEVELOPING AFFORDABLE HOUSING WITHIN ITS SERVICE AREA. 0 0 773715 417061 CONSTRUCTING QUALITY AFFORDABLE HOUSING FOR SENIORS AND FAMILIES, AS WELL AS DEVELOPING A COMMUNITY SERVICE INFRASTRUCTURE TO HANDLE THE GROWING NEEDS OF AN EXPANDING POPULATION BASE. 7165 1282 INTERMEDIARY RELENDING PROGRAM - TO PROVIDE LOAN CAPITAL TO BUSINESSES LOCATED IN RURAL NORTH CAROLINA THROUGH A CONTRACTUAL AGREEMENT WITH THE USDA RURAL DEVELOPMENT. 324874 90901 COMMUNITY HEALTH AND SAFETY - TO PROVIDE NON-MEDICAL SERVICES FOR ELIGIBLE INDIVIDUALS SPECIFICALLY RELATED TO FOOD, HOUSING, TRANSPORTATION, INTERPERSONAL SAFETY, AND TOXIC STRESS INCLUDING ASSISTANCE WITH HOUSING INSPECTIONS AND PROVIDING HEALTHY HOME GOODS. 13424 0 MANAGEMENT AND OWNERSHIP IN RENTAL OPERATIONS OF PARACHUTE MANAGEMENT COMPANY, LLC, AN AFFORDABLE HOUSING PROJECT WITH 16 LIHTC COMMUNITIES ACROSS EASTERN NORTH CAROLINA 713350 597056 DEVELOPMENT AND OWNERSHIP IN RENTAL OPERATIONS OF MEADOW'S GATE, LLC, AN AFFORDABLE HOUSING PROJECT UTILIZING SECTION 1602 TAX CREDIT EXCHANGE FUNDS THROUGH NCHFA. 60830 56289 DEVELOPMENT AND OWNERSHIP IN RENTAL OPERATIONS OF COMPASS POINTE AT MEADOWS GATE, LLC, AN EIGHT UNIT PROJECT FOR VETERAN SUPPORTIVE HOUSING 1484538 1201238 INVESTMENT CORPORATIONS HOLDING GENERAL PARTNERSHIP INTERESTS IN AFFORDABLE HOUSING PROJECTS. 2272142 1854583 3377896 1 1 0 0 0 0 0 0 0 0 1 0 0 1 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 0 1 1 1 0 0 0 1 8 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X KEITH D WALKER 2525043996 PO BOX 2400 BEAUFORT NC 28516 ROBERT CAMPBELL CHAIRMAN 4.00 X X 0 0 0 DAVID NATEMAN SECRETARY/TREASURER 2.00 X X 0 0 0 SANDY HEWITT-GIACOBBI DIRECTOR 1.00 X 0 0 0 AMBER K SMITH DIRECTOR 1.00 X 0 0 0 PETER CRUMLEY DIRECTOR 1.00 X 0 0 0 TYISHA TEEL DIRECTOR 1.00 X 0 0 0 BRIAN FIKE DIRECTOR 1.00 X 0 0 0 KEITH D WALKER CEO & PRESIDENT 40.00 X X 212849 0 28297 SHARII PHELPS DIRECTOR 1.00 X 0 0 0 ENA WALKER DIRECTOR 1.00 X 0 0 0 LYNDA E LAND CFO 40.00 X 125408 0 17005 338257 0 45302 2 0 1 0 0 326516 50000 376516 RENTAL INCOME 531110 1812181 1812181 OTHER PROGRAM SERVICES 900099 298585 298585 DEVELOPMENT FEES 531390 253061 253061 2363827 23282 23282 255000 0 255000 255000 255000 3018625 2363827 0 278282 398754 313183 85571 342186 342186 53409 53409 53139 53139 49334 49334 82500 82500 186 186 96602 96602 231958 231958 22632 22632 222469 222469 626716 626716 265600 265600 CONTRACT SERVICES 505957 505957 GRANT COST 324874 324874 SUPPLIES 67096 67096 DEVELOPMENT COSTS 31284 31284 96188 88771 7417 3470884 3377896 92988 0 329538 164712 1426936 1727810 351276 231815 657872 356171 50569 80274 25816786 4951260 12622688 20865526 5617456 5297203 21056335 28723511 633373 396028 0 63643 11575556 15109021 138520 716250 12347449 16284942 X 3158645 6888328 5550241 5550241 8708886 12438569 21056335 28723511 X -452259 88629 4093313 X X 0 1 X 1 1 1 X 20000 19000 341571 376516 757087 2644388 3624405 3046356 1793621 2363827 13472597 2664388 3643405 3046356 2135192 2740343 14229684 0 417285 1727543 2352145 92686 475687 5065346 417285 1727543 2352145 92686 475687 5065346 9164338 36589 33720 23677 26996 23282 144264 36589 33720 23677 26996 23282 144264 2400 2400 2400 2400 9600 2703377 3679525 3072433 2164588 2763625 14383548 0.63710 0.58820 0.01000 0.01230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4419059 4419059 19553628 3784943 15768685 446506 442035 4471 1397593 724282 673311 20865526 DEVELOPMENT SITE COSTS 542739 REAL ESTATE HELD FOR DEVELOPMENT 1500000 DEFERRED DEVELOPMENT ADVANCE 359684 OTHER ASSETS 300 CONSTRUCTION IN PROGRESS 2822990 DUE FROM RELATED PARTIES 71490 5297203 LOANS FROM SHAREHOLDERS 28774 DUE TO RELATED PARTIES 124624 ACCRUED INTEREST PAYABLE 562852 716250 X PART X, LINE 2: IT IS THE ORGANIZATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A MORE-LIKELY-THAN-NOT THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE CONSOLIDATED FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR THE YEAR ENDED JUNE 30, 2023 AND 2022. X X X X X 0 0 0 1 0 0 0 0 0 KEITH D WALKER CEO & PRESIDENT 145036 0 52491 0 15322 0 11258 0 17039 0 241146 0 2253 0 PART I, LINE 5 COMPENSATION CONTINGENT UPON REVENUES OF ORGANIZATION: EXECUTIVE DIRECTOR RECEIVES PERCENTAGE OF DEVELOPER FEES FROM REAL ESTATE DEVELOPMENT, INCENTIVE MANAGEMENT FEES, AND EXCESS CASH FLOWS. FORM 990, PART VI, SECTION A, LINE 2 CEO, KEITH WALKER, IS THE FATHER OF BOARD MEMBER ENA WALKER. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND OUTSIDE ACCOUNTANTS REVIEW THE FORM 990 WITH BOTH THE EXECUTIVE COMMITTEE AND THE FULL BOARD AND ENTERTAIN ANY QUESTIONS AT A BOARD MEETING. ONCE ALL QUESTIONS HAVE BEEN RESOLVED, A MOTION WILL BE REQUESTED FOR APPROVAL OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY STATING POTENTIAL CONFLICTS OF INTEREST. IF THERE IS A POTENTIAL CONFLICT OF INTEREST THE EXECUTIVE DIRECTOR OR, WHERE APPLICABLE, CHAIRMAN OF THE BOARD SHALL TAKE SUCH ACTION AS IS NECESSARY TO ASSURE THAT THE TRANSACTION IS COMPLETED IN THE BEST INTEREST OF EAST CAROLINA COMMUNITY DEVELOPMENT INC, WITHOUT THE SUBSTANTIVE INVOLVEMENT OF THE PERSON WHO HAS POSSIBLE CONFLICTS OF INTEREST. BOARD MEMBERS AND KEY EMPLOYEES ARE ALSO ASKED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AT EVERY BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO IS REVIEWED BY THE BOARD OF DIRECTORS EVERY THREE YEARS AND BY THE EXECUTIVE COMMITTEE ON AN ANNUAL BASIS. THE EXECUTIVE COMMITTEE USES RELEVANT MARKET DATA TO ENSURE THAT THE CEO'S COMPENSATION IS COMPARABLE TO OTHER SIMILAR ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION REPORTS UNAUDITED FINANCIAL STATEMENTS ON ITS WEBSITE. ALL OTHER GOVERNING OR REPORTING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: INCOME REPORTED ON AUDITED FINANCIAL STATEMENTS BUT ON OTHER TAX RETURNS -2,640. CONSOLIDATED MAJORITY INTEREST CORPORATIONS NET CONTRIBUTIONS 4,095,953. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. MEADOW'S GATE LLC PO BOX 2400 BEAUFORT NC 28516 300502021 AFFORDABLE HOUSING NC EAST CAROLINA COMMUNITY DEVELOPMENT INC COMPASS POINTE AT MEADOWS GATE LLC PO BOX 2400 BEAUFORT NC 28516 371765307 AFFORDABLE HOUSING NC EAST CAROLINA COMMUNITY DEVELOPMENT INC PARACHUTE MANAGEMENT COMPANY LLC PO BOX 2400 BEAUFORT NC 28516 832402085 AFFORDABLE HOUSING NC EAST CAROLINA COMMUNITY DEVELOPMENT INC TROON APARTMENTS LLC PO BOX 2400 BEAUFORT NC 28516 562142167 AFFORDABLE HOUSING NC EAST CAROLINA COMMUNITY DEVELOPMENT INC CAMELLIA COURT APARTMENTS LLC PO BOX 2400 BEAUFORT NC 28516 562004522 AFFORDABLE HOUSING NC EAST CAROLINA COMMUNITY DEVELOPMENT INC PHOENIX PARK LLC PO BOX 2400 BEAUFORT NC 28516 562257635 APT RENTAL NC RELATED 0 0 ELIJAH'S LANDING OF MOREHEAD CITY LLC PO BOX 2400 BEAUFORT NC 28516 824287178 APT RENTAL NC RELATED 0 0 THE COVENANT SENIOR HOUSING LLC PO BOX 2400 BEAUFORT NC 28516 824025682 APT RENTAL NC N/A RELATED 0 0 EASTPORT II AT THE PARK LLC PO BOX 2400 BEAUFORT NC 28516 844063943 APT RENTAL NC RELATED 0 0 SOLOMONS CROSSING OF GREENSBORO LLC PO BOX 2400 BEAUFORT NC 28516 872891030 APT RENTAL NC RELATED 0 0 CLIFFMORE PARK APARTMENTS LLC PO BOX 2400 BEAUFORT NC 28516 872715608 APT RENTAL NC RELATED 0 0 OAK RIDGE PARK APARTMENTS LLC PO BOX 2400 BEAUFORT NC 28516 882337584 APT RENTAL NC RELATED 0 0 PHOENIX PARK APARTMENTS LLC PO BOX 2400 BEAUFORT NC 28516 882287463 APT RENTAL NC RELATED 0 0 EMMERDALELLC PO BOX 2400 BEAUFORT NC 28516 342057681 APT RENTAL NC RELATED 0 0 LONGBOURNE APARTMENTS LLC PO BOX 2400 BEAUFORT NC 28516 562460373 APT RENTAL NC RELATED 0 0 CASTLE GLEN LLC PO BOX 2400 BEAUFORT NC 28516 562460375 APT RENTAL NC RELATED 0 0 BLUE POINT BAY HOUSING OF MOREHEAD CITY INC PO BOX 2400 BEAUFORT NC 28516 562407481 APT RENTAL NC C -230 -272 1.00000 0 CASTLE GLEN HOUSING OF NEWPORT INC PO BOX 2400 BEAUFORT NC 28516 562458424 APT RENTAL NC C -228 -8976 1.00000 0 CLIFFMORE PARK HOUSING OF FAYETTEVILLE INC PO BOX 2400 BEAUFORT NC 28516 872761383 APT RENTAL NC C 1.00000 0 EASTPORT AT THE PARK HOUSING OF BEAUFORT INC PO BOX 2400 BEAUFORT NC 28516 364793899 APT RENTAL NC C -233 -133 1.00000 0 EASTPORT II AT THE PARK HOUSING OF BEAUFORT INC PO BOX 2400 BEAUFORT NC 28516 844083225 APT RENTAL NC C 1.00000 0 EDENBRIDGE HOUSING OF MOREHEAD CITY INC PO BOX 2400 BEAUFORT NC 28516 550907121 APT RENTAL NC C -226 30761 1.00000 0 ELIJAH'S LANDING OF MOREHEAD CITY INC PO BOX 2400 BEAUFORT NC 28516 824312425 APT RENTAL NC C 1.00000 0 EMMERDALE HOUSING OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 550907122 APT RENTAL NC C -196057 -454522 1.00000 0 FOX HOLLOW HOUSING OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 550907120 APT RENTAL NC C -228 -53195 1.00000 0 GLENSTAL HOUSING OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 352387930 APT RENTAL NC C -238 -255 1.00000 0 LONGBOURNE HOUSING OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 562458427 APT RENTAL NC C -236 -14285 1.00000 0 OAK RIDGE PARK HOUSING OF AYDEN INC PO BOX 2400 BEAUFORT NC 28516 882313201 APT RENTAL NC C 1.00000 0 PHOENIX PARK APARTMENTS OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 882275979 APT RENTAL NC C 1.00000 0 PHOENIX PARK II HOUSING OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 550886344 APT RENTAL NC C -231 -114 1.00000 0 SOLOMONS CROSSING HOUSING OF GREENSBORO INC PO BOX 2400 BEAUFORT NC 28516 873432491 APT RENTAL NC C 1.00000 0 THE COVENANT SENIOR HOUSING OF CASTLE HAYNE INC PO BOX 2400 BEAUFORT NC 28516 824025845 APT RENTAL NC C 1.00000 0 WELLINGTON GROVE HOUSING OF JACKSONVILLE INC PO BOX 2400 BEAUFORT NC 28516 611655794 APT RENTAL NC C -249 -343 1.00000 0 CYPRESS COVE HOUSING OF WILMINGTON INC PO BOX 2400 BEAUFORT NC 28516 300950574 APT RENTAL NC C -554 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0