FORSYTH COUNTY DEVELOPMENT CORPORAT: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
FORSYTH COUNTY DEVELOPMENT CORPORAT (EIN 56-1576009)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-15
IRS object ID
202123199349311982
Schema version
2020v4.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-11-15T12:30:52-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN560727655PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CANNON & COMPANY LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12160 COUNTRY CLUB RDAddressLine1Txt
CityWINSTONSALEMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP271044208ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN561576009EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FORSYTH COUNTY DEVELOPMENT CORPORATBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFORSBusinessNameControlTxt
Phone0336723895PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line195 W 32ND STREETAddressLine1Txt
CityWINSTONSALEMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27105ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCANTEY ALEXANDERPersonNm
Person TitleCHAIRMANPersonTitleTxt
Phone3367238955PhoneNum
Signature2021-11-12SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstCANTEYPersonFirstNm
Person LastALEXANDERPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonVALERIE D KIGERPreparerPersonNm
PTINP01732917PTIN
Phone3367250635PhoneNum
Preparation2021-11-12PreparationDt
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Final ReturnYes (X)FinalReturnInd
Principal OfficerCANTEY ALEXANDERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line195 W 32ND STREETAddressLine1Txt
CityWINSTONSALEMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27105ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$0GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.WSBUSINESSINC.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1987FormationYr
Legal Domicile StateNCLegalDomicileStateCd
Activity Or MissionTO RECRUIT NEW BUSINESS AND INDUSTRY TO THE CITY OF WINSTON-SALEM AND FORSYTH COUNTY NORTH CAROLINA THROUGH LEASE HOLDING AND REAL ESTATE DEVELOPMENT.ActivityOrMissionDesc
Contract TerminationYes (X)ContractTerminationInd
Voting Members Governing Body0VotingMembersGoverningBodyCnt
Voting Members Independent0VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
CY Contributions Grants$0CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$11,793PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$11,793PYTotalRevenueAmt
CY Total Revenue$0CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$114,472PYOtherExpensesAmt
CY Other Expenses$0CYOtherExpensesAmt
PY Total Expenses$114,472PYTotalExpensesAmt
CY Total Expenses$0CYTotalExpensesAmt
PY Revenues Less Expenses-$102,679PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$0CYRevenuesLessExpensesAmt
Total Assets BOY$4,299,894TotalAssetsBOYAmt
Total Assets EOY$0TotalAssetsEOYAmt
Total Liabilities BOY$526,600TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$3,773,294NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$0NetAssetsOrFundBalancesEOYAmt
MissionTO RECRUIT NEW BUSINESS AND INDUSTRY TO THE CITY OF WINSTON-SALEM AND FORSYTH COUNTY NORTH CAROLINA THROUGH LEASE HOLDING AND REAL ESTATE DEVELOPMENT.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
DescIN 2020, FORSYTH COUNTY DEVELOPMENT CORPORATION (FCDC) CONTINUES TO CARRY OUT ITS MISSION OF RECRUITING NEW BUSINESS AND INDUSTRY TO THE CITY OF WINSTON-SALEM AND FORSYTH COUNTY, NORTH CAROLINA. IT'S ACTIVITIES WERE MERGED INTO WPDA INC. STARTING IN 2020.Desc
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationYes (true)PartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form8899 FiledindfalseForm8899Filedind
Form1098 C FiledfalseForm1098CFiledInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members0GoverningBodyVotingMembersCnt
Independent Voting Member0IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldNCStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonKATHLEEN HESSPersonNm
Phone3367238955PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11080 W FOURTH STAddressLine1Txt
CityWINSTONSALEMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27101ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)

TitleTitleTxtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
CANTEY ALEXANDER
CHAIRMANYes (X)Yes (X)$0$0$0
LEIGH C BAGLEY
DIRECTORYes (X)$0$0$0
KENNETH BASCH
DIRECTORYes (X)$0$0$0
JONATHAN CHASE
DIRECTORYes (X)$0$0$0
JERRY COOK
DIRECTORYes (X)$0$0$0
ROBERT EGLESTON
DIRECTORYes (X)$0$0$0
DONALD FLOW
DIRECTORYes (X)$0$0$0
JIMMY FLYTHE
IMMEDIATE PAYes (X)Yes (X)$0$0$0
TODD HALL
DIRECTORYes (X)$0$0$0
G WILLIAM JOYNER III
DIRECTORYes (X)$0$0$0
JOHN WILSON III
DIRECTORYes (X)$0$0$0
TRENT JERNIGAN
DIRECTORYes (X)$0$0$0
J ALLEN JOINES
DIRECTORYes (X)$0$0$0
TED KAPLAN
DIRECTORYes (X)$0$0$0
STEPHEN C KOELSCH
VICE CHAIRMAYes (X)Yes (X)$0$0$0
MIKE LANCASTER
DIRECTORYes (X)$0$0$0
JEFF LINDSAY
DIRECTORYes (X)Yes (X)$0$0$0
JULIE A FREISCHLAG MD
DIRECTORYes (X)$0$0$0
ELWOOD ROBINSON PHD
DIRECTORYes (X)$0$0$0
MICHAEL ROGERS
DIRECTORYes (X)$0$0$0
HAP ROYSTER
DIRECTORYes (X)$0$0$0
SCOTT SEWELL
SECRETARY/TRYes (X)Yes (X)$0$0$0
DR JANET SPRIGGS
DIRECTORYes (X)$0$0$0
MICHAEL SUGGS
DIRECTORYes (X)$0$0$0
LISA VENABLE
DIRECTORYes (X)$0$0$0
KEN WALKER
DIRECTORYes (X)$0$0$0
ROB WELCH
DIRECTORYes (X)$0$0$0
WRENN WELLS
DIRECTORYes (X)$0$0$0
ROBERT E LEAK JR
PRESIDENTYes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,061,192BOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$1,614,325BOYAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$1,624,377BOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$4,299,894BOYAmt
EOY$0EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$26,600BOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

FieldValueIRS element (for citing)
BOY$500,000BOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$526,600BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$3,773,294BOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$3,773,294BOYAmt
EOY$0EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$4,299,894BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$0ReconcilationRevenueExpnssAmt
Other Changes In Net Assets-$3,773,294OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd

Schedule N IRS990ScheduleN

Disposition Of Assets Detail DispositionOfAssetsDetail

FieldValueIRS element (for citing)
Assets Distri Or Expnss PaidCASHAssetsDistriOrExpnssPaidDesc
Distribution2020-03-31DistributionDt
Fair Market Value Of Asset$1,030,072FairMarketValueOfAssetAmt
EIN453814914EIN
PersonWHITAKER PARK DEVELOPMENT AUTHORITYPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line195 W 32ND STAddressLine1Txt
CityWINSTON SALEMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27105ZIPCd
FieldValueIRS element (for citing)
IRC Section501(C)(3)IRCSectionTxt
FieldValueIRS element (for citing)
Director Of Successor2falseDirectorOfSuccessor2Ind
Employee Of Successor2Yes (true)EmployeeOfSuccessor2Ind
Owner Of Successor2falseOwnerOfSuccessor2Ind
Receive Compensation2falseReceiveCompensation2Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE N, PART II, PAGE 2, LINE 2EROBERT LEAKE EXECUTIVE DIRECTOR
SCHEDULE NFORSYTH COUNTY DEVELOPMENT CORPORATION MERGED WITH WHITAKER PARK DEVELOPMENT AUTHORITY ON JANUARY 1, 2020. ACTION WAS APPROVED THE THE BOARDOF DIRECTORS OF BOTH ORGANIZATIONS. ALL ASSETS AND LIABILITIES OF FORSYTHCOUNTY DEVELOPMENT CORPORATION WERE ABSORBED BY WHITAKER PARK DEVELOPMENT AUTHORITY.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11BTHE BOARD REVIEWS THE AUDITED FINANCIAL STATEMENTS. THE PRESIDENT REVIEWS THE FORM 990 FOR COMPARABILITY TO THE AUDIT RESULTS AND THEN FILES THE FORM 990.
FORM 990, PAGE 6, PART VI, LINE 12CEACH BOARD MEMBER IS REQUIRED TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICT AND SIGN A CONFLICT OF INTEREST POLICY STATEMENT ANNUALLY.
FORM 990, PAGE 6, PART VI, LINE 19THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XI, LINE 9ASSETS MERGED INTO WPDA INC. -3,773,294

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