2025-03-28T13:56:30-05:00 2024-09-30 275360847 CROSSLIN PLLC 3803 BEDFORD AVENUE SUITE 201 NASHVILLE TN 37215 990 2023-10-01 621548236 MID-CUMBERLAND AREA DEVELOPMENT CORP MID- 6158628828 44 VANTAGE WAY SUITE 450 NASHVILLE TN 37228 MARK BEELER BOARD PRESIDENT 6158628828 2025-03-28 1 1 RODNEY C BROWER P00168898 6153205500 2023 2025-03-06 01:10:19Z MARK BEELER 44 VANTAGE WAY SUITE 450 NASHVILLE TN 37228 269126 0 X WWW.MADC.US X 1982 TN MADC IS SPECIFICALLY ORGANIZED TO ENGAGE IN AND ENCOURAGE, ASSIST AND PROMOTE INDUSTRIAL AND COMMERCIAL DEVELOPMENT, SMALL BUSINESS DEVELOPMENT AND JOB CREATION IN THE GREATER NASHVILLE REGION IN TENNESSEE. 10 10 0 0 0 0 0 0 153033 193112 55217 75486 0 528 208250 269126 0 0 0 0 0 0 0 0 0 361420 358353 361420 358353 -153170 -89227 1670290 1590771 327652 337360 1342638 1253411 MADC IS SPECIFICALLY ORGANIZED TO ENGAGE IN AND ENCOURAGE, ASSIST AND PROMOTE INDUSTRIAL AND COMMERCIAL DEVELOPMENT, SMALL BUSINESS DEVELOPMENT AND JOB CREATION IN THE GREATER NASHVILLE REGION IN TENNESSEE. 0 0 294517 193640 THE CORPORATION IS RESPONSIBLE FOR ADMINISTRATION OF SMALL BUSINESS LOANS THROUGH THE ORGANIZATION'S CAPITAL LOAN PROGRAM (CLP) AND FOR PACKAGING AND SERVICING CERTAIN SMALL BUSINESS ADMINISTRATION (SBA) LOANS AS A CERTIFIED DEVELOPMENT COMPANY (CDC). 294517 0 0 0 0 0 0 0 0 0 1 0 0 1 0 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 1 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 X MEGAN NELSON FINANCE DIRECTOR 6158628839 44 VANTAGE WAY SUITE 450 NASHVILLE TN 37228 X BRUCE CARTER IMMEDIATE PAST PRESIDENT 0.00 X X 0 0 0 COREY JOHNS DIRECTOR 0.00 X 0 0 0 JEROME TERRELL SECRETARY/TREASURER 0.00 X X 0 0 0 KEL MCDOWELL DIRECTOR/VP 0.00 X X 0 0 0 LOUIS PARODI DIRECTOR 0.00 X 0 0 0 MARK BEELER BOARD PRESIDENT 0.00 X X 0 0 0 NORMAN QUIRION DIRECTOR 0.00 X 0 0 0 PAUL STUMB DIRECTOR 0.00 X 0 0 0 SAM BANCROFT DIRECTOR 0.00 X 0 0 0 SCOTT BAGWELL DIRECTOR 0.00 X 0 0 0 0 0 0 0 0 0 0 0 LOAN FEES 522291 136962 136962 INTEREST FROM LOANS 522291 56150 56150 193112 75486 75486 PROVISION FOR LOAN LOS 900099 528 528 528 269126 193640 0 75486 12420 12420 8979 8979 88259 79433 8826 1566 1566 15959 15959 CONTRACT ADMINISTRATION 210642 189578 21064 SUBSCRIPTIONS AND MEMBE 14961 14961 OTHER EXPENSES 5112 5112 PRINTING AND PUBLICATIO 407 407 48 48 358353 294517 63836 0 53835 36779 62991 62991 0 0 1616455 1553992 1670290 1590771 327652 337360 327652 337360 X 1342638 1253411 1342638 1253411 1670290 1590771 -89227 0 X 0 1 X 0 0 33578 33578 0 29413 29413 0 0 DUE FROM GNRC - CASH IN CUSTODY OF GNRC 1553992 1553992 X 268598 0 268598 528 528 269126 357825 0 357825 528 528 358353 PART X, LINE 2: THE CORPORATION ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A MORE LIKELY THAN NOT THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. TAX POSITIONS FOR THE CORPORATION INCLUDE, BUT ARE NOT LIMITED TO, THE TAX-EXEMPT STATUS AND DETERMINATION OF WHETHER INCOME IS SUBJECT TO UNRELATED BUSINESS INCOME TAX; HOWEVER, THE CORPORATION HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY RECLASSIFICATION 528. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY RECLASSIFICATION 528. FORM 990, PART VI, SECTION A, LINE 3 DURING THE YEAR, GREATER NASHVILLE REGIONAL COUNCIL PROVIDED ADMINISTRATIVE SERVICES, PERSONNEL, AND GRANT MANAGEMENT SERVICEES UNDER A CONTRACT WITH THE ENTITY. FORM 990, PART VI, SECTION A, LINE 7A AREA MAYORS HAVE THE AUTHORITY TO APPOINT MEMBERS TO THE ENTITY BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FISCAL OFFICER AND THE BOARD OF DIRECTORS REVIEW THE FORM 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ARE REQUIRED TO ANNUALLY CERTIFY THAT THEY HAVE READ, AND UNDERSTAND, THE REQUIREMENTS SET FORTH IN CFR 120 823. QUESTION 5(D) STATES THERE MUST BE NO ACTUAL OR APPEARANCE OF A CONFLICT OF INTEREST WITH RESPECT TO ANY ACTIONS OF THE BOARD. BOARD MEMBERS ARE REQUIRED TO ABSTAIN FROM VOTING ON ANY LOAN PROJECT IN WHICH THE MEMBER COULD HAVE A CONFLICT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.