2021-07-29T09:53:20-05:00 2020-09-30 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2019-10-01 752621353 MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION MARK 8067494500 1500 BROADWAY NO 600 LUBBOCK TX 79401 JANA JOHNSTON CFO/COO 8067494500 2021-07-21 1 MATT R WILLIS P00419741 8067473806 2021-07-21 X 2019 2022-09-23 18:48:47Z X JOHN OSBORNE 1500 BROADWAY NO 600 LUBBOCK TX 79401 6919339 0 X WWW.VISITLUBBOCK.ORG X 1995 TX TO ENHANCE AND ENCOURAGE ECONOMIC DEVELOPMENT AND JOB CREATION AND FACILITATE THE DEVELOPMENT OF NEW INDUSTRIES. MANAGE AND OVERSEE THE OPERATIONS OF VISIT LUBBOCK AND FOREIGN TRADE ZONE 260. VISIT LUBBOCK ENCOMPASSES THE OPERATIONS OF THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS. 10 10 27 10 0 0 7833865 6805663 48926 18402 205757 95274 0 0 8088548 6919339 1702506 2167438 0 0 1519057 1390975 0 0 0 2809393 3688451 6030956 7246864 2057592 -327525 10656956 5553218 5675535 899322 4981421 4653896 X TO ENHANCE AND ENCOURAGE ECONOMIC DEVELOPMENT AND JOB CREATION AND FACILITATE THE DEVELOPMENT OF NEW INDUSTRIES. MANAGE AND OVERSEE THE OPERATIONS OF VISIT LUBBOCK AND FOREIGN TRADE ZONE 260. VISIT LUBBOCK ENCOMPASSES THE OPERATIONS OF THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS. 0 0 5990390 2167438 18402 IN 2019-2020 MARKET LUBBOCK, INC. CONTINUED TO WORK WITH THE CITY OF LUBBOCK TO STRENGTHEN AND ENCOURAGE BUSINESS INVESTMENT IN DOWNTOWN LUBBOCK THROUGH A REIMBUSEMENT GRANT PROGRAM. THE CITY OF LUBBOCK AND MARKET LUBBOCK, INC. WORKED TOGETHER TO COMPLETE MAJOR UPGRADES TO THE BERL HUFFMAN ATHLETIC COMPLEX, INCLUDING A 9 ACRE ARTIFICIAL TURF COMPLEX. SUCH IMPROVEMENTS PROVIDE OPPORTUNITIES FOR MORE EVENTS TO BE HOSTED IN LUBBOCK, ADDING TO THE ECONOMIC STRENGTH OF THE COMMUNITY, AS WELL AS PROVIDE ENHANCED QUALITY OF LIFE FACILITIES FOR LUBBOCK CITIZENS. IN SPITE OF THE RESTRICTIONS OF THE GLOBAL PANDEMIC VISIT LUBBOCK, THROUGH THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS, WORKED TO CONTRACT WITH MEETING PLANNERS, CONVENTION ORGANIZERS AND SPORTS EVENTS ORGANIZERS TO BRING CONVENTIONS AND EVENTS TO LUBBOCK THAT HELP TO CURB THE IMPACT OF COVID-19 TO THE LOCAL HOTELS, RESTAURANTS, ATTRACTIONS AND SHOP. MARKET LUBBOCK, WITH THE ASSISTANCE OF LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE AND SOUTH PLAINS ASSOCIATION OF GOVERNMENTS WAS ABLE TO DIVERT $1 MILLION OF OUR BUDGET TO A SUPPORT LUBBOCK FUND. TOGETHER THESE ENTITIES WERE ABLE TO PROVIDE EMERGENCY FUNDS TO 29 BUSINESSES FORGIVEABLE LOANS BETWEEN $20,000 AND $60,000 TO KEEP THEIR BUSINESSES OPEN. 5990390 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 17 0 27 1 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JANA JOHNSTON 8067494500 1500 BROADWAY SUITE 600 LUBBOCK TX 79401 JOHN OSBORNE CEO 20.00 20.00 X 0 354841 43629 JANA JOHNSTON CFO/COO 20.00 20.00 X 0 175455 21010 KENNY MCKAY VICE PRESIDENT 20.00 20.00 X 0 159709 25419 CAROLYN ROWLEY DIRECTOR OF RECRUITMENT 20.00 20.00 X 0 123957 19414 TONYA CHRISTINE ALLEN DIRECTOR OF WORKFORCE DEV 20.00 20.00 X 0 112963 28844 KRISTIE CAVINESS DIRECTOR OF MARKETING & COMMUNICATION 20.00 20.00 X 0 104589 18892 BARRY ORR CHAIRMAN 2.00 2.00 X X 0 0 0 MARK GRIFFIN VICE CHAIRMAN 1.00 1.00 X X 0 0 0 REGINA JOHNSTON DIRECTOR 1.00 1.00 X 0 0 0 SUZANN KIRBY DIRECTOR 1.00 1.00 X 0 0 0 JOHN OPPERMAN DIRECTOR 1.00 1.00 X 0 0 0 MATTHEW BUMSTEAD DIRECTOR 1.00 1.00 X 0 0 0 CALVIN DAVIS DIRECTOR 1.00 1.00 X 0 0 0 KRISTIN MURRAY DIRECTOR 1.00 1.00 X 0 0 0 BRETT CATE DIRECTOR 1.00 1.00 X 0 0 0 CHRIS CARPENTER DIRECTOR 1.00 1.00 X 0 0 0 0 1031514 157208 0 0 1 0 HELLAS CONSTRUCTION INC 12710 RESEARCH AUSTIN TX 78759 CONSTRUCTION SERVICES 4618413 LONE STAR DIRT & PAVING 11820 UNIVERSITY AVE LUBBOCK TX 79423 CONSTRUCTION SERVICES 380041 AJR MEDIA GROUP 25132 OAKHURST SPRING TX 77386 ADVERTISING/MARKETING 210656 MADDEN MEDIA 345 EAST TOOLE AVE TUCSON AZ 85701 ADVERTISING/MARKETING 149600 PARKHILL SMITH & COOPER INC 4222 85TH STREET LUBBOCK TX 79423 ENGINEERING 138562 6 6795452 10211 6805663 TICKET SALES 711300 17321 17321 PROMOTIONAL ITEMS 711300 1081 1081 18402 95274 95274 6919339 18402 0 95274 2145387 2145387 22051 22051 1138045 853534 284511 49688 37266 12422 144619 108464 36155 58623 43967 14656 7841 5881 1960 29537 22153 7384 1551 1163 388 1305917 979438 326479 37587 28190 9397 194687 146015 48672 106084 79563 26521 623 467 156 216452 162339 54113 53531 53531 12061 9046 3015 SPORTING EVENTS 1409200 1056900 352300 INCENTIVES AND SPECIAL 251287 188465 62822 MISCELLANEOUS 62093 46570 15523 7246864 5990390 1256474 0 8601805 2673018 882320 1703799 1056244 1080541 44094 68915 449047 422102 72493 26945 10656956 5553218 366362 115949 5309173 783373 5675535 899322 X 0 0 0 0 4981421 4653896 4981421 4653896 10656956 5553218 -327525 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30901 30901 0 418146 391201 26945 26945 X PART X, LINE 2: MLI IS A NONPROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE (IRC) OF 1986, AS AMENDED. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING BASIC FINANCIAL STATEMENTS. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ARE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. AS OF SEPTEMBER 30, 2020 MANAGEMENT HAS ANALYZED ITS TAX POSITIONS AND BELIEVES THAT ALL ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. MLI'S TAX RETURNS GENERALLY REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE DATE OF FILING. 1 2 DOCS BREWING 10707 KLINE AVENUE LUBBOCK TX 79424 822547547 N/A 25000 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. 1500 BROADWAY PARTNERS 1500 BROADWAY PARTNERS 14TH FLOOR LUBBOCK TX 79401 202049002 N/A 78953 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. 1602 TEXAS AVE LLC 1602 TEXAS AVENUE LUBBOCK TX 79401 464670926 N/A 14328 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. BAYER CROPSCIENCE LP- NOW BASF 2 TW ALEXANDER DRIVE RESEARCH TRIANGLE PARK NC 27709 562164873 N/A 50000 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. CITY OF LUBBOCK 1208 14TH STREET LUBBOCK TX 79401 756005906 GOV'T ENTITY 79576 TO ASSIST WITH DOWNTOWN SAFETY PATROLS AND DOWNTOWN WEBSITE DEVELOPMENT. HART CHESNUTT LLC 2017 BROADWAY LUBBOCK TX 79401 831228823 N/A 9000 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. KYRA K BLANKENSHIP PC 913 TEXAS AVE LUBBOCK TX 79401 203217973 N/A 24965 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. LUBBOCK CULTURAL ARTS FOUNDATION 1500 BROADWAY SUITE 600 LUBBOCK TX 79401 208957025 501(C)(3) 75000 TO ASSIST WITH THE DEVELOPMENT OF A CULTURAL ARTS FOUNDATION TO PROMOTE LUBBOCK ARTS AND ARTISTS IN TEXAS AND ACROSS THE COUNTRY. LUBBOCK SYMPHONY ORCHESTRA 601 AVENUE K LUBBOCK TX 79401 756001993 501(C)(3) 25000 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. MCCOURT PLACE LC 4805 21ST STREET LUBBOCK TX 79407 752562311 N/A 10080 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. PAT KELLY PROPERTIES INC 1105 MAIN STREET LUBBOCK TX 79401 261536717 N/A 39877 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. Q-505 LLC 119 S IRVING SAN ANGELO TX 76903 461302774 N/A 125000 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. RALDSO DEVELOPMENT LLC 1520 BUDDY HOLLY AVENUE LUBBOCK TX 79401 823302594 N/A 5375 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. SALLY BLAIR LLC 1320 19TH ST LUBBOCK TX 79401 475058410 N/A 9281 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. SOUTH PLAINS ASSOCIATION OF GOVERNMENTS 1323 58TH STREET LUBBOCK TX 79412 751285200 GOV'T ENTITY 1000000 TO ASSIST WITH RELIEF TO BUSINESSES NEGATIVELY IMPACTED BY COVID-19. TAKE 5 PROPERTIES SPV LLC 440 S CHURCH STREET SUITE 700 CHARLOTTE NC 28202 721128185 N/A 75136 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. TEXAS TECH UNIVERSITY PO BOX 41010 LUBBOCK TX 794091010 756000590 501(C)(3) 400000 TO HELP FUND THE SCHOOL'S INNOVATION AND RESEARCH PARK. TEXAS TECH UNIVERSITY HEALTH SCIENCE CENTER 3601 4TH STREET STOP 6238 LUBBOCK TX 79430 752668014 501(C)(3) 5000 TO ASSIST WITH THE PRODUCTION AND DISTRIBUTION OF COVID-19 SAFETY PRODUCTS. THERESA BARRETT FINE ARTS PHOTOGRAPHY 1812 TEXAS AVENUE LUBBOCK TX 79401 842628008 N/A 9250 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. WORKFORCE SOLUTIONS OF THE SOUTH PLAINS 1500 BROADWAY SUITE 900 LUBBOCK TX 79401 752677494 501(C)(3) 25000 TO ASSIST WITH CAREER COUNSELING, JOB SEARCH ASSISTANCE, CAREER AND SUPPORT SERVICES AND JOB TRAINING. 7 14 ECONOMIC DEVELOPMENT 1 22051 TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. PART I, LINE 2: GRANTS FOR JOB CREATION ARE NOT PAID UNTIL AFTER THE JOBS HAVE BEEN CREATED. CAPITAL INVESTMENT GRANTS ARE NOT PAID UNTIL AFTER THE ASSET IS COMPLETED AND A CERTIFICATE OF OCCUPANCY HAS BEEN AQUIRED. INDEPENDENT ACCOUNTANTS VERIFY THAT ALL OF THE REQUIREMENTS OF THE GRANT HAVE BEEN MET AND REPORT BACK TO MLI ON THEIR FINDINGS BEFORE ANY FUNDS ARE DISBURSED. DOWNTOWN AND EAST LUBBOCK GRANTS ARE REIMBURSEMENT GRANTS AND ARE PAID AFTER THE GRANTEE HAS SUBMITTED COPIES OF INVOICES AND PROOF OF PAYMENT. ALL SUBMITTED INVOICES AND PROOF OF PAYMENT DOCUMENTATION IS VERIFIED BY THE DIRECTOR OF DOWNTOWN DEVELOPMENT AND THE ACCOUNTING DEPARTMENT. GRANTS TO TEXAS TECH AND THE CITY OF LUBBOCK ARE PAID ACCORDING TO CONTRACT AND ONLY AFTER VERIFICATION THAT THE TERMS OF THE CONTRACT HAVE BEEN MET. X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 JOHN OSBORNE CEO 0 289862 0 50579 0 14400 0 13750 0 29879 0 398470 0 0 JANA JOHNSTON CFO/COO 0 153563 0 21892 0 0 0 8965 0 12045 0 196465 0 0 KENNY MCKAY VICE PRESIDENT 0 131557 0 19152 0 9000 0 7975 0 17444 0 185128 0 0 PART I, LINE 1A THE PAYMENT OF COUNTRY CLUB DUES IS ADDRESSED IN THE EMPLOYMENT CONTRACT OF THE CEO. FORM 990, PART VI, SECTION A, LINE 3 MARKET LUBBOCK ECONOMIC DEVELOPMENT CORP "MARKET LUBBOCK" HAS A MANAGMENT AGREEMENT WITH LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE FOR THE OFFICER EMPLOYEES OF THAT ORGANIZATION TO MANAGE THE DAY TO DAY OPERATIONS OF MARKET LUBBOCK. MARKET LUBBOCK CORP AND LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE ARE RELATED ORGANIZATIONS CREATED BY THE CITY OF LUBBOCK TO FACILITATE ECONOMIC DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11B THE REVIEW OF THE FORM 990 WAS PERFORMED BY THE BOARD DURING THE BOARD MEETING IMMEDIATELY PRECEDING THE FILING OF THE FORM 990. THE PRESENTATION OF THE FORM 990 REVIEW WAS MADE BY CFO/COO JANA JOHNSTON. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO THE BOARD OF DIRECTORS AT THE FIRST MEETING OF THE YEAR. IT HAS A SIGNATURE LINE ON THE BOTTOM OF THE FORM FOR THE DIRECTOR TO SIGN AND DATE INDICATING THAT THEY HAVE READ AND AGREE TO THE POLICY. AS A PART OF THE PROCEDURE THERE IS AN ACCOMPANYING CONFLICT OF INTEREST QUESTIONNAIRE ON WHICH THE BOARD MEMBERS LIST ANY POTENTIAL CONFLICTS. BOTH DOCUMENTS ARE COLLECTED AND MAINTAINED BY THE CFO OF LEDA AND ARE UPDATED EACH YEAR. FINALLY, THE POLICY PROVIDES THAT A BOARD MEMBER MAY NOTIFY THE CHAIRMAN OF THE BOARD WHEN HE/SHE BECOMES AWARE OF A POTENTIAL CONFLICT DURING THE COURSE OF THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 OFFICER AND KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY AND RECOMMENDATIONS ARE MADE BY THE AUDIT AND COMPLIANCE COMMITTEE AND MANAGEMENT TO ADJUST COMPENSATION LEVELS BASED ON COMPENSATION SURVEYS, INFLATION AND MERIT. THE COMPENSATION SURVEY USED IN DETERMINING RECOMMENDED SALARY ADJUSTMENTS IS BASED ON INDUSTRY DATA REFLECTED IN THE ANNUAL DMAI SALARY SURVEY OF DESTINATION MARKETING PROFESSIONALS WHICH IS PUBLISHED BY THE DESTINATION MARKETING ASSOCIATION INTERNATIONAL (DMAI). THIS STUDY PROVIDES SALARIES FOR THE VARIOUS POSITIONS WITHIN THE INDUSTRY AND IS SORTED ACCORDING TO ORGANIZATIONAL SIZE AND GEOGRAPHIC REGION. IN ADDITION TO THE PROCESS USED ANNUALLY, THE BOARD CONTINUED TO USE THE 2019 COMPENSATION AND BENEFIT STUDY THAT PROVIDED INDUSTRY SPECIFIC COMPARISONS OF ALL POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING AT THE ORGANIZATION'S OFFICE AT 1500 BROADWAY ST, STE 600; LUBBOCK, TX. FORM 990, PAGE 12, PART XII, LINE 2C THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE 1500 BROADWAY STE 600 LUBBOCK TX 79401 900183669 ECONOMIC DEVELOPMENT TX 501(C)(4) N/A CITY OF LUBBOCK 0 LUBBOCK EXPERIENCE INC 1500 BROADWAY STE 600 LUBBOCK TX 79401 208957025 ECONOMIC DEVELOPMENT TX 501(C)(3) LINE 7 CITY OF LUBBOCK 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE O 354451 COST PER BOOKS