2022-12-13T07:04:40-06:00 2020-12-31 561031342 WILLIAMS OVERMAN PIERCE LLP 328 E MARKET STREET SUITE 100 GREENSBORO NC 27401 990 2020-01-01 561706757 BRICK CAPITAL COMMUNITY DEVELOPMENT CORPORATION BRIC 9197752300 PO BOX 568 SANFORD NC 273310568 KERRY BASHAW EXECUTIVE DIRECTOR 9197087864 2022-12-08 1 KERRY BASHAW 999009999 MARYELLEN PRANCE CPA P01662078 3362751686 2022-12-08 X 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z X KERRY BASHAW PO BOX 568 SANFORD NC 273310568 2522545 0 X WWW.BC-CDC.ORG X 1990 NC THE ORGANIZATION, TOGETHER WITH PUBLIC AND PRIVATE INVESTORS, PROVIDES AFFORDABLE HOUSING, HOUSING COUNSELING, EDUCATION, COMMUNITY, HUMAN AND ECONOMIC DEVELOPMENT TO IMPROVE THE QUALITY OF LIFE IN LEE AND SURROUNDING COUNTIES OF NC. 10 10 3 5 0 0 11600 1703249 191313 205134 0 35109 31652 9000 234565 1952492 0 0 0 0 113722 121416 0 0 0 299619 308389 413341 429805 -178776 1522687 1627458 2936119 1519836 753511 107622 2182608 THE ORGANIZATION, TOGETHER WITH PUBLIC AND PRIVATE INVESTORS, PROVIDES AFFORDABLE HOUSING, HOUSING COUNSELING, EDUCATION, COMMUNITY, HUMAN AND ECONOMIC DEVELOPMENT TO IMPROVE THE QUALITY OF LIFE IN LEE AND SURROUNDING COUNTIES OF NC. 0 0 305343 205134 INCREASED THE AVAILABILITY OF MODERATELY PRICED HOUSING FOR THE LOW TO MODERATE INCOME CITIZENS OF LEE AND SURROUNDING COUNTIES. INCREASED HOUSING COUNSELING ACTIVITY FOR FIRST-TIME HOMEBUYERS. 305343 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 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 3 1 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 1 0 X KERRY BASHAW 9197752300 PO BOX 568 SANFORD NC 273310568 X JAMES FRENCH DIRECTOR 1.00 X 0 0 0 FREEMAN BROOKS DIRECTOR 1.00 X 0 0 0 REY KRENZIER DIRECTOR 1.00 X 0 0 0 KELLY DUBOIS DIRECTOR 1.00 X 0 0 0 TERRY MCMILLAN DIRECTOR 1.00 X 0 0 0 MILTON BURCH DIRECTOR 1.00 X 0 0 0 WILLIAM WILSON VICE-PRESIDENT 1.00 X X 0 0 0 MARGARET MURCHISON PRESIDENT 1.00 X X 0 0 0 BRENDA WILLIAMS TREASURER 1.00 X X 0 0 0 BRENDA JOHNSON SECRETARY 1.00 X X 0 0 0 KATHLEEN RUMELY EXECUTIVE DIRECTOR (FORMER) 0.00 X 0 0 16382 0 0 16382 0 1 0 0 0 728082 975167 1629492 1703249 SUPPORTIVE HOUSING 624200 155604 155604 MANAGEMENT INCOME 624200 29900 29900 DEVELOPMENT INCOME 624200 13000 13000 HOUSING COUNSELING 624200 6630 6630 205134 605162 570053 35109 35109 35109 DEBT FORGIVENESS INCOM 522292 9000 9000 9000 1952492 205134 0 44109 112474 82106 30368 8942 4918 4024 28602 28602 5905 4429 1476 4379 3065 1314 191 105 86 17842 16575 1267 72652 62481 10171 17248 12936 4312 UTILITIES 48179 43361 4818 ADMIN FEES 29900 29900 INTEREST RECOGNIZED ON 24383 24383 REPAIRS AND MAINTENANCE 16789 16376 413 42319 34608 7711 429805 305343 124462 0 163298 114721 67024 58247 6136 8369 3700034 945252 1336046 2754782 54954 1627458 2936119 36883 26485 1415929 668779 67024 58247 1519836 753511 X 107622 2141855 40753 107622 2182608 1627458 2936119 1522687 552299 X X 0 1 X 1 0 X 6000 4000 4043 11600 1703249 1728892 298628 233537 201922 191313 205134 1130534 304628 237537 205965 202913 1908383 2859426 300 943500 943800 0 300 943500 943800 1915626 84 84 84 84 6056 24571 30985 22499 9000 93111 310768 262108 236950 225412 1917383 2952621 0.64880 0.00000 0.00000 0.00000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DEBT FORGIVENESS INCOME - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 9,000. 2018 AMOUNT: $ 9,000. 2019 AMOUNT: $ 9,000. 2020 AMOUNT: $ 9,000. OTHER INCOME - 2016 AMOUNT: $ 6,056. 2017 AMOUNT: $ 15,571. 2018 AMOUNT: $ 21,985. 2019 AMOUNT: $ 13,499. 2020 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1670675 1670675 1960611 945252 1015359 52136 52136 16612 16612 2754782 PROPERTY REPLACEMENT RESERVES 42047 ESCROW ACCOUNTS 16200 58247 X 1952492 0 1952492 0 1952492 429805 0 429805 0 429805 PART X, LINE 2: THE ORGANIZATION EVALUATES ALL SIGNIFICANT TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740-10, INCOME TAXES. AS OF DECEMBER 31, 2020, THE ORGANIZATION DOES NOT BELIEVE THAT IT HAS TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY, NOR DOES IT BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT YEAR. X X 0 1 0 0 0 0 0 0 0 KATHLEEN RUMELY EXECUTIVE DIRECTOR (FORMER) 0 0 0 0 0 0 16382 0 0 0 16382 0 0 0 X 3 1629493 APPRAISAL 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR ITS REVIEW AND APPROVAL PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST WHEN THEY ARISE. A CONFLICT OF INTEREST POLICY IS SIGNED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 CURRENT EXECUTIVE DIRECTOR PAY IS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATIONAL AND OTHER DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST TO THE ORGANIZATION'S OFFICE. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FORM 990 PART XI, LINE 9 RECEIVED PROPERTY AS A NON CASH DONATION TO BUILD HOMES IN THE FUTURE FORM 990 PART VI, LINE 15B FORMER EXECUTIVE DIRECTOR OF THE ORGANIZATION WAS DUE A RETIREMENT PAYMENT OF 16382.00, WHICH WAS PAID IN FULL IN 2020. AMENDED FORM 990 THE RETURN IS BEING AMENDED TO REPORT RESTATEMENTS TO THE ORGANIZATION'S 2020 AUDITED FINANCIAL STATEMENTS. THE RESTATEMENT IS DUE TO NON-ARM'S LENGTH PURCHASES OF LAND THAT RESULTED IN ADDITIONAL CONTRIBUTIONS EQUAL TO THE EXCESS OF FAIR MARKET VALUE OVER THE SALES PRICES TOTALING $686,992. CERTAIN OTHER CHANGES WERE MADE TO CONFORM WITH THE AUDITED FINANCIAL STATEMENTS. LASTLY, ADDITIONAL SCHEDULES WERE AMENDED AND/OR ADDED TO PROPERLY REPORT THE REQUIRED DETAIL FOR THE ORGANIZATION'S PUBLIC SUPPORT AND CONTRIBUTIONS RECEIVED. THESE CHANGES RESULTED IN THE FOLLOWING: FORM 990, PART III, LINE 4A - THE ORGANIZATION PAID NO GRANTS DURING THE YEAR SO $0 IS NOW REPORTED. PROGRAM SERVICE REVENUE HAS BEEN AMENDED TO $205,134 TO AGREE WITH PART VIII. FORM 990, PART VII - ACCORDING TO THE ORGANIZATION'S BYLAWS, THE POSITION OF EXECUTIVE DIRECTOR IS NOT CONSIDERED AN OFFICER POSITION. ADDITIONALLY, KERRY BASHAW'S COMPENSATION WAS BELOW $100,000; THEREFORE, HE HAS BEEN REMOVED FROM THE LIST OF OFFICERS AND HIGHEST COMPENSATED EMPLOYEES. FORM 990, PART VIII - LINES 1E AND 1G ARE AMENDED TO REPORT THE CONTRIBUTION AND CORRESPONDING NONCASH AMOUNT OF $686,992. LINE 1F IS AMENDED TO BREAKOUT CASH GRANTS FROM GOVERNMENT UNITS TOTALING $41,090 REPORTED ON LINE 1E AND PROGRAM SERVICE REVENUE TOTALING $13,000 REPORTED ON LINE 2C. THE GAIN ON SALE OF REAL PROPERTY IS PROPERLY REPORTED ON LINE 7 INSTEAD OF LINE 11. FORM 990, PART IX - THE BREAKOUT OF PROGRAM SERVICE EXPENSES AND MANAGEMENT EXPENSES IN COLUMNS (B) AND (C) ARE AMENDED TO CONFORM TO THE AUDITED FINANCIAL STATEMENTS. FORM 990, PART X - LINE 10A INCREASED $686,992 TO REPORT THE ADDITIONAL LAND CONTRIBUTIONS. FORM 990, PART XII - THE FINANCIAL STATEMENTS WERE AUDITED ON A SEPARATE BASIS. LINE 2B HAS BEEN UPDATED TO PROPERLY REFLECT THIS. SCHEDULE A, PART III, SECTION A - LINE 1 FOR 2020 IS AMENDED TO REPORT ALL CONTRIBUTIONS REPORTED ON PART VIII, LINE 1H. LINE 2 IS AMENDED TO REPORT THE GROSS RECEIPTS FROM PROGRAM SERVICES FOR 2016 TO 2020. LINE 7A IS AMENDED TO REPORT CONTRIBUTIONS FROM DISQUALIFIED PERSONS. SCHEDULE B WAS ADDED TO REPORT ALL CONTRIBUTIONS OVER $5,000. SCHEDULE D, PART VI - THE ADDITIONAL LAND OF $686,992 HAS BEEN ADDED TO LINE 1A. SCHEDULE D, PART X, LINE 2 - THE AUDITED FINANCIAL STATEMENTS CONTAINED A STATEMENT REGARDING UNCERTAIN TAX POSITIONS. THIS BOX HAS BEEN CHECKED AND THE STATEMENT ADDED TO THE SUPPLEMENTAL INFORMATION. SCHEDULE D, PART XI - TOTAL REVENUES PER THE AUDITED FINANCIAL STATEMENTS ON LINE 1 IS AMENDED AND REPORTED AT $1,952,492. SCHEDULE M, PART I - LINE 15 COLUMN (C) IS AMENDED TO REPORT THE ADDITIONAL LAND CONTRIBUTION TOTALING $686,992.