2014-05-15T22:03:13-05:00 2013-06-30 541149263 YOUNT HYDE & BARBOUR PC 1100 SUNSET LANE SUITE 1310 CULPEPER VA 22701 990 2012-07-01 201712170 THE STATE THEATRE FOUNDATION INC STAT 5408290293 PO BOX 657 CULPEPER VA VA 22701 GARY W LEE 5408290293 2014-05-15 1 CHRIS PEARSON CPA P00547894 5408256050 2012 2015-11-30 17:44:51Z GARY W LEE 305 S MAIN ST CULPEPER VA 22701 1641571 0 X WWW.CULPEPERTHEATRE.ORG X 2004 VA ORGANIZE AND FUNDRAISE FOR A COMMUNITY LIVE PERFORMING ARTS & REGIONAL CULTURAL CENTER 16 16 3 100 0 0 203758 1608886 0 0 -796 17 37787 19178 240749 1628081 0 0 0 0 50589 59891 0 0 2869 30503 39264 81092 99155 159657 1528926 6509133 3755128 4298814 0 2210319 3755128 X ORGANIZE & FUNDRAISE FOR A COMMUNITY LIVE PERFORMING ARTS FACILITY AND REGIONAL CULTURAL CENTER 0 1 AFTER NINE YEARS OF PLANNING AND VOLUNTEER EFFECT, THE FOUNDATION COMPLETED CONSTRUCTION/REHABILITATION OF 1930'S ERA VAUDEVILLE THEATRE IN MAY, 2013 THEREBY ESTABLISHING THE REGION'S FIRST CULTURAL AND PERFORMING ARTS CENTER DEDICATED TO QUALITY ENTERTAINMENT AT A REASONABLE ADMISSION CHARGE, A VENUE FOR THE COMMUNITY'S SCHOOL SYSTEM TO ACQUAINT/EDUCATE STUDENTS ABOUT THE ARTS, AND TO STIMULATE ECONOMIC DEVELOPMENT IN THE COMMUNITY. THE FOUNDATION CURRENTLY MANAGES THE THEATER FACILITY FOR THE STATE THEATRE MASTER TENANT, LLC. 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 1 5 0 1 3 1 0 0 0 0 0 1 1 0 0 X 16 16 1 0 0 0 0 0 0 1 1 0 0 1 0 0 0 1 1 1 1 X GARY W LEE TREASURER 5408290293 PO BOX 657 CULPEPER VA 22701 X GREG YATES 5.00 X 0 0 0 TAD LOVING 5.00 X 0 0 0 GARY LEE 30.00 X X 0 0 0 DAVID ALBEE 1.00 X 0 0 0 BRUCE CLARK 1.00 X 0 0 0 CHRIS HAMILTON 1.00 X 0 0 0 QUINTIN MULLINS 1.00 X 0 0 0 LIZ YATES 5.00 X 0 0 0 MIRIAM HALSEY 1.00 X 0 0 0 CATHY DALRYMPLE 20.00 X X 0 0 0 DON HAIGHT JR 3.00 X X 0 0 0 NORM LAUDERMILCH 1.00 X 0 0 0 STEVE SOUTHARD 1.00 X 0 0 0 CLARISSA BERRY 1.00 X 0 0 0 MIKE MASHON 1.00 X 0 0 0 RAVEN YATES 5.00 X X 0 0 0 0 0 0 0 0 0 0 0 1608886 1273305 1608886 17 17 25155 13490 11665 11665 11665 EARTHQUAKE DAMAGE REIM 900099 7513 7513 7513 1628081 19195 0 0 53387 53387 3000 3000 3504 3504 1500 1500 9682 9682 10339 10339 5114 5114 FUNDRAISING EXPENSES 2869 2869 DUES & SUBSCRIPTIONS 2573 2573 EQUIPMENT RENTAL 2523 2523 PRINTING & COPYING 1735 1735 2929 2929 99155 0 96286 2869 12801 18735 0 6369152 21642 105538 3736393 6509133 3755128 39531 3250000 1009283 0 4298814 0 X 0 0 0 0 2210319 3755128 2210319 3755128 6509133 3755128 1528926 15883 0 X X 0 0 0 X 139944 186870 265753 153758 632746 1379071 139944 186870 265753 153758 632746 1379071 760187 618884 953 -60 -12473 -796 17 -12359 1366712 0.45280 0.49400 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENT IN STATE THEATRE OWNER, LLC 3247816 INVESTMENT IN STATE THEATRE MANAGER, LLC -463923 COMMERCIAL RENTAL REALTY HELD FOR RESALE 952500 3736393 LERNER BUILDING LLC OWNED BY CHRIS HAMILTON, FORMER VICE CHAIRPERSON 5114 MONTHLY OFFICE SPACE RENTAL 0 X 1 296480 AVG FMV DATE OF DONATION X 1 950000 APPRAISED VALUE X LIGHTING SCONCES 1 26825 MSRP 0 0 0 PRIOR TO APRIL 11, 2013, ALL REAL PROPERTY ON THE SITE OF THE HISTORIC STATE THEATER WAS TITLED IN THE NAME OF STATE THEATRE OWNER, LLC.(STO). STO WAS A SINGLE MEMBER LLC OWNED SOLELY BY THE STATE THEATRE FOUNDATION, INC. (STF). DURING APRIL, 2013, BANK OF CLARKE COUNTY INVESTED CAPITAL INTO THE ENTITY IN RETURN FOR A 99.9% EQUITY INTEREST. ALL REAL PROPERTY (EXCEPT A COMMERCIAL RENTAL PROPERTY LOCATED IN MANASSAS, VA) INCLUDING IMPROVEMENTS ARE NOW OWNED IN A FOR-PROFIT ENTITY TREATED AS A PARTNERSHIP FOR INCOME TAX PURPOSES 2013-04-11 11408674 COST BASIS 261951500 STATE THEATRE OWNER LLC 311 S MAIN ST CULPEPER VA 22701 PARTNERSHIP 1 0 0 0 PART II, LINE 2E: LUNSFORD L LOVING AND GARY W LEE PART II, LINE 2E: MANAGING MEMBERS OF TRANSFEREE ORGANIZATION CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 FOUNDATION ENTERED INTO PARTNERSHIP WITH VARIOUS FOR-PROFIT ENTITIES TO RAISE CAPITAL FOR DEBT REDUCTION, TO LEASE FACILITIES AND TO MANAGE PROGRAM SERVICES FOR THOSE ENTITIES. FORM 990, PART VI, SECTION A, LINE 2 HUSBAND AND WIFE ARE BOTH MEMBERS OF THE BOARD. ADDITIONALLY, THE FOUNDATION LEASED A BUSINESS OFFICE FROM ONE OF ITS DIRECTORS PENDING OCCUPANCY OF THE THEATER'S NEWLY CONSTRUCTED FACILITY IN MAY 2013 FOR $500/MONTH. FORM 990, PART VI, SECTION B, LINE 11 RETURN REVIEWED BY THE FINANCE COMMITTEE AND EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS WITH TREASURER PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE EXECUTIVE/MANAGING DIRECTOR IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS WHICH EXCLUDES SUCH EXECUTIVE/MANAGING DIRECTOR. FACTORS INCLUDE DEGREE OF RESPONSIBILITY ACCEPTED BY THE PERSON HOLDING THE POSITION, EXPECTATION OF TIME COMMITMENT TO THE POSITION AND GENERAL ECONOMIC CONDITIONS IN THE MARKET AREA. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AND POLICES AVAILABLE UPON REQUEST. STATE THEATRE DEVELOPER LLC 311 S MAIN STREET CULPEPER VA 22701 261951571 REAL ESTATE DEVELOPMENT VA THE STATE THEATRE FOUNDATION INC STATE THEATRE MANAGER LLC 311 S MAIN STREET CULPEPER VA 22701 261951460 PROPERTY MANAGEMENT VA THE STATE THEATRE FOUNDATION INC STATE THEATRE OWNER LLC 311 S MAIN ST CULPEPER VA 22701 261951500 REAL ESTATE HOLDING ENTITY VA STATE THEATRE FOUNDATION INC RELATED 0 1 0.85000 STATE THEATRE MASTER TENANT LLC 311 S MAIN ST CULPEPER VA 22701 462348042 OPERATOR OF THE VENUE VA STATE THEATRE FOUNDATION INC RELATED 0 1 0.15600 305 E MAIN ST LLC 311 S MAIN ST CULPEPER VA 22701 383901761 PROPERTY MANAGEMENT VA STATE THEATRE FOUNDATION INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0