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Nonprofiteer
← ENTERPRISE PROPERTIES INC

Form 990 for tax year 2022

Filed by ENTERPRISE PROPERTIES INC.

Totals

Total revenue
$466,749
Total expenses
$359,021
Contributions and grants received
$0
Grants paid
$150,000
Program service revenue
$466,095
Investment income
$654
Other revenue
$0
Total assets, end of year
$3,161,807
Total liabilities, end of year
$47,056
Net assets or fund balances, end of year
$3,114,751
Program services expenses (Part IX)
$295,949
Management and general expenses
$63,072
Fundraising expenses
$0
Program service expenses (Part III)
$295,949

Program services were 82.4% 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.

  • 2a · Program service revenue: Rental Income-Econ Dev/Business Retention

    total $466,095 · related or exempt $466,095 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $654 · related or exempt $654 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $150,000 · program services $150,000

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $60,000 · program services $0 · management and general $60,000 · fundraising $0

  • 11b · Fees: legal

    total $3,473 · program services $3,473 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $3,065 · program services $0 · management and general $3,065 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $4,400 · program services $4,400 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $65,449 · program services $65,449 · management and general $0 · fundraising $0

  • 17 · Travel

    total $7 · program services $0 · management and general $7 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $2,089 · program services $2,089 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $61,918 · program services $61,918 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $7,929 · program services $7,929 · management and general $0 · fundraising $0

  • 24a · Other expenses: Membership dues

    total $400 · program services $400 · management and general $0 · fundraising $0

  • 24b · Other expenses: Miscellaneous

    total $291 · program services $291 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200,036 · end of year $152,380

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $3,000

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

    $3,955,841

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

    $949,414

  • 10c · Land, buildings and equipment, net

    beginning of year $3,068,345 · end of year $3,006,427

  • 17 · Accounts payable and accrued expenses

    beginning of year $813 · end of year $18,495

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $84,688 · end of year $28,333

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $175,755 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $102 · end of year $228

  • 27 · Net assets without donor restrictions

    beginning of year $3,007,023 · end of year $3,114,751

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

Enterprise Properties, Inc. formed to partner with the State of WV to purchase and lease a building for the sole purpose of economic development and job retention in Charleston, WV. Enterprise Properties, Inc. is now the sole owner and lessor, facilitating continued retention of hundreds of jobs based in the city.

  • Enterprise Properties, Inc. (EPI) leases an office building to CASCI, an agency which processes claims for the federal employees' insurance plan. EPI has been instrumental in keeping CASCI in Charleston, and has contributed to the overall economic wellbeing of the community by retaining hundreds of jobs with an annual payroll exceeding $27 million. Cash flow from the lease allows EPI to disburse economic development grants to an affiliated non-profit organization in furtherance of its economic development mission.

    Expenses $295,949 · Grants $150,000 · Revenue $466,749

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nicole Christian

    President and CEO

    Total calculated
    $167,347
    From this org
    $0
    From related orgs
    $150,138
    Other
    $17,209
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,138 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,500 related
    Nontaxable benefits
    $0 + $9,709 related
    Filer's total
    $0 + $167,347 related

  • Debra S James

    CFO

    Total calculated
    $115,532
    From this org
    $0
    From related orgs
    $96,223
    Other
    $19,309
    Hours/week
    3 + 40 related

  • Matthew Bond

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tessa White

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ericke Cage

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ellen Cappellanti

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Ferretti

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Chris Morris

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jack Rossi

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jeff Sandene

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • George Smith

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Patrick Smith

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part II
The reporting organization has no employees and did not pay any wages. Schedule J is presented, as per instructions, to report compensation paid by a related organization, Capital Area Development Corporation of West Virginia (CADCO). Nicole Christian serves as President & CEO of both the reporting organization and related organization, CADCO. Ms. Christian's compensation paid by the related organization was determined by a compensation committee and approved by the related organization's Executive Committee.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
3 October 2023
IRS schema version
2022v5.0
Source object
202322769349301707

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