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Nonprofiteer
← E-POLK

Form 990 for tax year 2022

Filed by E-POLK.

Totals

Total revenue
$1,650,834
Total expenses
$1,606,355
Contributions and grants received
$75,931
Grants paid
$12,831
Program service revenue
$1,564,400
Investment income
$579
Other revenue
$9,924
Total assets, end of year
$1,933,576
Total liabilities, end of year
$429,054
Net assets or fund balances, end of year
$1,504,522
Program services expenses (Part IX)
$727,858
Management and general expenses
$878,497
Fundraising expenses
$0
Program service expenses (Part III)
$727,858

Program services were 45.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $12,831

  • 1f · All other contributions, gifts and grants

    $63,100

  • 2a · Program service revenue: SERVICE & MGMT REVENUES

    total $1,415,536 · related or exempt $1,415,536

  • 2b · Program service revenue: FIBER IRU

    total $17,737 · related or exempt $17,737

  • 2c · Program service revenue: POLE ATTACHMENT

    total $9,957 · related or exempt $9,957

  • 2d · Program service revenue: IP ADDRESSES

    total $5,093 · related or exempt $5,093

  • 2e · Program service revenue: DIRECT EXP REIMBURSEMNT

    total $67,165 · related or exempt $67,165

  • 2f · All other program service revenue

    total $48,912 · related or exempt $48,912

  • 3 · Investment income

    total $579 · related or exempt $579

  • 11a · Other revenue: DONATIONS CONTRIBUTIONS

    total $86 · related or exempt $86

  • 11b · Other revenue: NC SALES TAX REFUND

    total $4,325 · related or exempt $4,325

  • 11c · Other revenue: FINANCE CHARGE INCOME

    total $3,228 · related or exempt $3,228

  • 11d · All other revenue

    total $2,285 · related or exempt $2,285

  • 11e · Other revenue, total

    $9,924

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,831 · program services $12,831

  • 7 · Other salaries and wages

    total $554,691 · management and general $554,691

  • 9 · Other employee benefits

    total $127,663 · management and general $127,663

  • 11b · Fees: legal

    total $9,260 · management and general $9,260

  • 11c · Fees: accounting

    total $2,500 · management and general $2,500

  • 11g · Fees: other

    total $114,522 · management and general $114,522

  • 12 · Advertising and promotion

    total $7,918 · program services $7,918

  • 14 · Information technology

    total $18,837 · management and general $18,837

  • 16 · Occupancy

    total $14,409 · management and general $14,409

  • 17 · Travel

    total $15 · management and general $15

  • 20 · Interest

    total $1,543 · program services $1,543

  • 22 · Depreciation, depletion and amortization

    total $169,684 · program services $166,989 · management and general $2,695

  • 23 · Insurance

    total $27,655 · program services $27,655

  • 24a · Other expenses: BANDWIDTH

    total $81,153 · program services $81,153

  • 24b · Other expenses: LATERAL INSTALLATIONS

    total $290,045 · program services $290,045

  • 24c · Other expenses: POLE ATTACHMENTS

    total $43,054 · program services $43,054

  • 24d · Other expenses: COLLOCATION EXPENSE

    total $19,327 · program services $19,327

  • 24e · All other expenses

    total $111,248 · program services $77,343 · management and general $33,905

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $228,102 · end of year $77,282

  • 2 · Savings and temporary cash investments

    beginning of year $315,612 · end of year $315,887

  • 4 · Accounts receivable

    beginning of year $13,878 · end of year $52,929

  • 7 · Other notes and loans receivable

    beginning of year $200,000 · end of year $200,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,420 · end of year $7,273

  • 10a · Land, buildings and equipment: cost or other basis

    $3,933,649

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,653,444

  • 10c · Land, buildings and equipment, net

    beginning of year $1,120,621 · end of year $1,280,205

  • 17 · Accounts payable and accrued expenses

    beginning of year $95,717 · end of year $161,875

  • 19 · Deferred revenue

    beginning of year $300,047 · end of year $255,160

  • 25 · Other liabilities

    beginning of year $47,138 · end of year $12,019

  • 27 · Net assets without donor restrictions

    beginning of year $1,459,731 · end of year $1,504,522

Mission and programs · 2022

Mission

PANGAEA MISSION: TO DELIVER AFFORDABLE, RELIABLE CONNECTIVITY SERVICES TO THE REGION. THESE SERVICES WILL ACCELERATE ECONOMIC DEVELOPMENT AND IMPROVE QUALITY OF LIFE WHILE EXPANDING ACCESS INTO UNDERSERVED AREAS.

  • EXTENSION AND MAINTENANCE OF FIBER-OPTIC CABLE NETWORK TO ACHIEVE/MAINTAIN OPERATING STATUS OF MISSION UNDER RIAA.

    Expenses $727,858

As filed on the 2022 return.

Listed in Part VII

  • Ron A Walters

    EXEC DIRECTOR

    Total calculated
    $160,358
    From this org
    $154,190
    From related orgs
    $0
    Other
    $6,168
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,190
    Bonus
    not reported
    Other
    not reported
    Deferred
    $6,168
    Nontaxable benefits
    not reported
    Filer's total
    $160,358

  • Russ Pitts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Garrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marche Pittman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Edwards

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Harry Grymes

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Joe Crowder

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202321319349305577

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