2024-11-05T12:50:19-06:00 2024-06-30 540504608 BROWN EDWARDS & COMPANY LLP 828 MAIN STREET SUITE 1401 LYNCHBURG VA 24504 990 2023-07-01 541598026 BUSINESS DEVELOPMENT CENTRE INC BUSI 4345836100 147 MILL RIDGE RD LYNCHBURG VA 24502 BYRON STEWARD EXECUTIVE DIRECTOR 4345836100 2024-11-01 1 1 PATRICK PITTMAN P00587461 4349489000 2024-11-01 2023 2024-10-15 13:58:12Z BYRON STEWARD 147 MILL RIDGE RD LYNCHBURG VA 24502 309624 0 X WWW.LBDC.COM X 1991 VA TO PROVIDE COUNSELING AND EDUCATION FOR INDIVIDUALS WHO ARE INTERESTED IN STARTING THEIR OWN BUSINESS 10 10 2 7 0 0 0 0 44826 32200 11102 17646 225480 259778 281408 309624 0 0 0 0 109432 96264 0 0 0 146164 150602 255596 246866 25812 62758 2067714 1624217 1466443 960188 601271 664029 TO PROVIDE COUNSELING AND EDUCATION FOR INDIVIDUALS WHO ARE INTERESTED IN STARTING THEIR OWN BUSINESS 0 0 153794 256540 BUSINESS DEVELOPMENT CENTRE - DURING THIS PERIOD ASSISTED 104 COMPANIES BY PROVIDING FACILITIES WITH 171 HOURS OF COUNSELING AND EDUCATION 51265 32200 TECHNICAL AND MANAGEMENT ASSISTANCE - PROVIDED TECHNICAL ASSISTANCE AND TRAINING TO 280 INDIVIDUALS FOR DEVELOPING SMALL BUSINESS AND PROVIDED GAP FINANCING 205059 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 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 1 0 0 0 1 4 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X BYRON STEWARD 4345836100 147 MILL RIDGE RD LYNCHBURG VA 24502 MICHAEL A FORREN DIRECTOR 1.00 X 0 0 0 HOLLY ROARK TREASURER 1.00 X X 0 0 0 BYRON STEWARD SECRETARY 40.00 X X 71800 0 0 KAMAL DARDEN DIRECTOR 1.00 X 0 0 0 COREY DAVIS DIRECTOR 1.00 X 0 0 0 PAVLINA DIROM CHAIRWOMAN 1.00 X X 0 0 0 SAMUEL HOWE VICE CHAIR 1.00 X X 0 0 0 CHERYL VALENTINE DIRECTOR 1.00 X 0 0 0 DONNA WITT DIRECTOR 1.00 X 0 0 0 ALISHA MEADOR DIRECTOR 1.00 X 0 0 0 71800 0 0 0 0 0 0 0 EXPENSE REIMBURSMENT 900099 32200 32200 32200 17646 17646 256540 3238 0 0 256540 3238 259778 256540 3238 309624 288740 0 20884 71800 53850 17950 16472 12354 4118 7992 5994 1998 14219 14219 13619 10214 3405 55397 55397 MAINTENANCE 33228 33228 JANITORIAL COST 27744 27744 PHONE AND COMMUNICATION 4921 4921 FOOD EVENT/ENTERTAINMEN 469 352 117 1005 1005 246866 205059 41807 0 1523691 1401004 543570 223213 24375 24375 0 0 453 2067714 1624217 23674 28980 1442769 931208 1466443 960188 X 0 0 0 0 601271 664029 601271 664029 2067714 1624217 62758 0 X X 0 1 X 1 0 X 305962 309257 269905 270306 288740 1444170 305962 309257 269905 270306 288740 1444170 0 0 0 1444170 2896 1000 1066 11102 20884 36948 2896 1000 1066 11102 20884 36948 308858 310257 270971 281408 309624 1481118 0.97510 0.98640 0.02490 0.01360 X 24375 24375 0 0 DUE TO CITY OF LYNCHBURG 125000 DUE TO ECONOMIC DEVELOPMENT ADMINISTRATION 495000 DUE TO LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY 264708 DUE TO VIRGINIA ENTERPRISE INITIATIVE 40000 SECURITY DEPOSITS 6500 931208 309624 0 309624 0 309624 246866 0 246866 0 246866 FORM 990, PART VI, SECTION B, LINE 11B ALL CORPORATE DOCUMENTS INCLUDING GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ON FILE AND AVAILABLE BY THE PUBLIC FOR REVIEWING DURING REGULAR OFFICE HOURS FORM 990, PART VI, SECTION B, LINE 12C ALL NEW OFFICERS AND DIRECTORS ARE PROVIDED A COPY OF THE CONFLICT OF INTEREST POLICY WHEN THEY ASSUME THEIR POSITION IN OCTOBER OF EACH CALENDER YEAR. THIS POLICY IS REVIEWED AND PRESENTED TO THE BOARD OF DIRECTORS, OUTLINING ANY CHANGES AND REMINDING THEM OF THEIR DUTY TO MAKE ANY DISCLOSURE OF ANY SITUATION/ACTIVITY THAT MAY BE CONSIDERED AS A CONFLICT OF INTEREST. IF ANYONE DISCLOSES WHAT THEY BELIEVE MAY BE A CONFLICT OF INTEREST, THEY ARE ASKED TO LEAVE THE MEETING WHILE DISCUSSION AND A RESULTING VOTE IS MADE ON THE POTENTIAL CONFLICT OF INTEREST. THE CHAIRPERSON MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE THE PROPOSED TRANSACTION OR ARRANGEMENT AFTER EXERCISING DUE DILIGENCE, THE BOARD OF DIRECTORS OR THE ASSIGNED COMMITTEE WILL DETERMINE WHAT STEPS ARE NEEDED, IF ANY, TO ELIMINATE OR CORRECT A POSSIBLE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION AND PERFORMANCE OF THE EXECUTIVE DIRECTOR IS ANNUALLY REVIEWED BY A COMMITTEE COMPRISED OF BOARD MEMBERS. PERFORMANCE MEASURES AND COMPARABLE DATA IS PROVIDED FOR CONSIDERATION WHEN AN INCREASE IN SALARY IS BEING CONSIDERED. THIS PROCESS COINCIDES WITH THE PRELIMINARY REVIEW AND APPROVAL PROCESS OF THE BUDGET FOR THE UPCOMING FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 UPON COMPLETION OF FORM 990, IT IS PRESENTED TO THE BOARD MEMBERS FOR THEIR REVIEW BEFORE BEING FILED. THIS PROCEDURE HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THIS OVERSIGHT PROCEDURE HAS NOT CHANGED DURING THE YEAR. CITY OF LYNCHBURG 900 CHURCH STREET LYNCHBURG VA 24504 546001405 CITY GOVERNMENT VA 170(B)(1)(A) 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 CITY OF LYNCHBURG K 1 AGREEMENT