2011-11-03T12:56:30-05:00 2011-06-30 YOUNT HYDE & BARBOUR PC 1100 SUNSET LANE SUITE 1310 CULPEPER VA 22701 990 2010-07-01 201712170 THE STATE THEATRE FOUNDATION INC STAT 5407277979 PO BOX 657 CULPEPER VA VA 22701 LUNSFORD L LOVING 5407277979 2011-11-03 1 GARY LEE CPA 5408256050 2010 2016-03-07 17:11:31Z LUNSFORD L LOVING PO BOX 657 CULPEPER VA VA 22701 396744 0 X WWW.CULPEPERTHEATRE.ORG X 2004 VA ORGANIZE, OPERATE & MAINTAIN A NOT FOR PROFIT COMMUNITY THEATRE, PERFORMANCE FACILITY & CULTURAL CENTER. 16 16 2 0 0 0 186870 265753 0 0 -60 -12473 13903 11628 200713 264908 0 0 0 0 52975 55825 0 0 36614 30221 34089 83196 89914 117517 174994 1876625 2056768 957 6106 1875668 2050662 ORGANIZE, OPERATE AND MAINTAIN A NOT FOR PROFIT COMMUNITY THEATER,PERFORMANCE FACILITY AND REGIONAL CULTURAL CENTER 0 0 NONE 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 2 1 0 0 0 0 0 0 1 1 0 0 0 1 0 X 16 16 1 0 0 0 0 0 0 1 1 0 0 1 0 0 0 1 0 0 X GARY W LEE TREASURER 5408256050 PO BOX 657 CULPEPER VA 22701 GREG YATES 1.00 X 0 0 0 TAD LOVING 1.00 X X 0 0 0 GARY LEE 1.00 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 X 0 0 0 QUINTIN MULLINS 1.00 X 0 0 0 LIZ YATES 1.00 X 0 0 0 MIRIAM HALSEY 1.00 X 0 0 0 MIKE NELMS 1.00 X 0 0 0 KAREN S DARBY 1.00 X X 0 0 0 DON HAIGHT JR 1.00 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 40.00 X X 34885 0 0 34885 0 0 0 0 0 0 0 265753 110321 265753 113 113 88837 12943 88906 25460 -69 -12517 -12586 -12586 29098 17470 11628 11628 264908 -12586 0 11741 34885 20931 13954 17719 8145 9574 3221 1780 1441 1910 1910 1792 1792 7535 7535 2412 2412 1028 1028 793 793 RENT EXPENSE 11645 11645 PRINTING & COPYING 2539 2539 MEALS & ENTERTAINMENT 1109 1109 REGISTRATION FEES 820 820 DUES & SUBSCRIPTION 820 820 1686 1686 89914 0 53300 36614 85623 7235 2017911 6241 1765702 2011670 2013 25300 35850 1876625 2056768 957 579 0 5527 957 6106 X 0 0 0 0 1875668 2050662 1875668 2050662 1876625 2056768 174994 0 X 0 0 0 X 725917 570938 139944 186870 265753 1889422 725917 570938 139944 186870 265753 1889422 745496 1143926 8199 14341 953 -60 -12473 10960 1900382 107602 0.60190 0.76190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X WILL BE SOLD AT A LATER DAT 0 110000 110000 1619949 1619949 287962 6241 281721 2011670 CONSTRUCTION RETAINAGE 5527 5527 264908 89914 174994 174994 PART III, LINE 4: PIANO - WILL BE SOLD AT A LATER DATE TO RAISE ADDITIONAL FUNDS PAUL REISLER CONCERT 12730 12730 4000 1374 1,000 FOR $1,000 13658 13658 2 2710 2710 11307 789 29098 29098 11307 4000 2163 17470 11628 X 2 102915 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 HUSBAND AND WIFE ARE BOTH MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 RETURN REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS AND TREASURER PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS WHICH EXCLUDES SUCH EXECUTIVE 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 STREET CULPEPER VA 22701 261951500 REAL ESTATE HOLDING ENTITY VA 2011297 THE STATE THEATRE FOUNDATION INC ASSETS WERE CONSOLIDATED EXPLANATION OF RELATIONSHIPS WITH RELATED ENTITIES. FORM 990, SCHEDULE R, PART 1 THE STATE THEATRE FOUNDATION IS CONSTRUCTING AND REHABILITATING AN HISTORIC PROPERTY IN CULPEPER, VIRGINIA TO SERVE AS A REGIONAL CULTURAL CENTER. THE CONSTRUCTION PROJECT IS EXPECTED TO GENERATE NEW MARKET TAX CREDITS (NMTC). THE ANTICIPATED CREDITS WILL GENERATE APPROXIMATELY 25% - 30% OF THE FUNDS NEEDED TO FINANCE THE PROJECT. IN ORDER FOR THE STATE THEATRE FOUNDATION INC. TO ATTRACT NMTC INVESTORS, THE CONSTRUCTION PROJECT NEEDS TO BE UNDERTAKEN BY A FOR-PROFIT ENTITY. THEREFORE THE LIMITED LIABILTY COMPANY STATE THEATRE OWNER LLC (STO) WAS CREATED AND OWNERSHIP OF THE PROPERTY WAS TRANSFERRED FROM THE STATE THEATRE FOUNDATION INC. TO STO. STO HAS SINCE ENTERED INTO A CONTRACT WITH A THIRD PARTY PRIVATE CONSTRUCTION COMPANY TO CONSTRUCT AND REHABILITATE THE PROPERTY. THE STATE THEATRE FOUNDATION INC. HAS RETAINED AN EXPERIENCED TAX CREDIT ADVISOR TO CREATE THE NECESSARY STRUCTURE OF THE REQUISITE ENTITIES TO ATTRACT POTENTIAL NMTC INVESTORS. THE TAX CREDIT ADVISOR HAS RECOMENDED THE CREATION OF STATE THEATRE MANAGER LLC (STM) AND STATE THEATER DEVELOPER LLC (STD) AS PART OF THIS PROCESS. THE SOLE MEMBER OF STO, STM, AND STD IS THE STATE THEATRE FOUNDATION.