Civic Intelligence

Greater Gaston Development Corporat

EIN 47-1726248 • 501(c)6 • Gastonia, NC

Profile

To support and implement, directly and through others, an initiative which identifies and advances a coordinated set of ambitiously realistic actions which measurably strengthen the factors impacting gaston county's economic competitiveness, thereby increasing quality new and expanded investments in the area.

PO Box 7Gastonia, NC 28053

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

26th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

17th percentile

-9.7%

Higher net margin than 17% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

89th percentile

$162,500

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 28.7% of source-year revenue.

501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

86th percentile

32%

Faster revenue growth than 86% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Down

$0

Down $63,440 (-100%) from 2019

Liabilities

Down

$0

Down $8,400 (-100%) from 2019

Net Assets

Down

$0

Down $55,040 (-100%) from 2019

Revenue

Up

$565,455

Up $136,155 (+32%) from 2019

Expenses

Up

$620,495

Up $175,814 (+40%) from 2019

Net Income

Down

-$55,040

Down $39,659 (-258%) from 2019

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2014: $124,032Liabilities 2014: $34,000Net Assets 2014: $90,0322014Assets 2015: $379,447Liabilities 2015: $60,750Net Assets 2015: $318,6972015Assets 2016: $383,978Liabilities 2016: $54,750Net Assets 2016: $329,2282016Assets 2017: $478,009Liabilities 2017: $141,206Net Assets 2017: $336,8032017Assets 2018: $167,659Liabilities 2018: $97,238Net Assets 2018: $70,4212018Assets 2019: $63,440Liabilities 2019: $8,400Net Assets 2019: $55,0402019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2014: $46,500Expenses 2014: $42,241Net Income 2014: $4,2592014Revenue 2015: $515,055Expenses 2015: $295,180Net Income 2015: $219,8752015Revenue 2016: $807,344Expenses 2016: $796,813Net Income 2016: $10,5312016Revenue 2017: $586,736Expenses 2017: $579,161Net Income 2017: $7,5752017Revenue 2018: $380,921Expenses 2018: $647,303Net Income 2018: -$266,3822018Revenue 2019: $429,300Expenses 2019: $444,681Net Income 2019: -$15,3812019Revenue 2020: $565,455Expenses 2020: $620,495Net Income 2020: -$55,0402020

Highlighted filing

2020

Revenue$565,455
Expenses$620,495
Net Income-$55,040

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jan 11, 2022
Return Version
2020v4.0
Gross Receipts
$565,455
Mission and Program Overview

Mission

To support and implement, directly and through others, an initiative which identifies and advances a coordinated set of ambitiously realistic actions which measurably strengthen the factors impacting gaston county's economic competitiveness, thereby increasing quality new and expanded investments in the area.

The ggdc's mission is to support and implement directly and through others an initiative which identifies and advances a coordinated set of ambitiously realistic actions which measurably strengthen the factors impacting gaston county's economic competitiveness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$45,475--
Cash and Non-Interest-Bearing Accounts$14,815--
Accounts Receivable$3,150--
Total Assets$63,440$0▼ $63,440
Liabilities
Deferred Revenue$8,400--
Total Liabilities$8,400$0▼ $8,400
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$55,040--
Total Net Assets Fund Balance$55,040$0▼ $55,040
Total Liabilities and Net Assets / Fund Balance$63,440$0▼ $63,440
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Patrick MumfordExecutive DiFT$162,500$162,500
Patrick MumfordExecutive Director-$162,500$162,500

Board Members and Trustees

NameTitle
Greg BotnerChairman
Chris PeekVice Chairma
Andy WarlickTrustee
Angel BaezTrustee
Bill CarstarphenTrustee
Bill ThierfelderTrustee
Bob ClayTrustee
Craig WatsonTrustee
Gene MatthewsTrustee
John LoweryTrustee
Martha Wooley WegnerTrustee
Rick CraigTrustee
Shaun RandallTrustee
Walker Reid IiiTrustee
Joel LongImmediate Pa
Tim EfirdSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$512,308
Program Service Revenue
$53,125
Investment Income
$22
Other Revenue
$0
All Other Contributions
$219,158
Change in Net Assets
$-55,040

Audited Revenue Reconciliation

Revenue per Audited Statements
$565,455
Total Revenue per Audited Statements
$565,455
Total Revenue per Form 990
$565,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$317,380
Salaries, Compensation, and Employee Benefits$303,115
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$162,500-$162,500
Other Salaries and Wages$68,414$56,419-$124,833
Office Expenses$3,441$24,106-$27,547
Other Expenses-$16,682-$16,682
Payroll Taxes-$15,782-$15,782
Fees for Services Other$7,733$2,267-$10,000
Insurance-$3,456-$3,456
Advertising$960$927-$1,887
Travel$45$32-$77
Fees for Services Management-$30-$30
Total Functional Expenses$80,593$539,902$0$620,495

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$620,495
Total Expenses per Audited Statements$620,495
Total Expenses per Form 990$620,495
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

An e-mail is sent, notifying each board member, that the return is available for review at the office and through e-mail.

Form 990, Page 6, Part VI, Line 12C

A copy of the conflict of interest policy is provided to each board member. Any conflicts of interest are addressed by the board of directors.

Form 990, Page 6, Part VI, Line 15A

The compensation of the executive director is determined based upon an annual reivew by the executive committee.

Form 990, Page 6, Part VI, Line 15B

All other officers or key employees are reviewed annually by the executive director and reported to the board for approval.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Greater Gaston Development Corporat
EIN
47-1726248
Phone
9802837200
Address
PO BOX 7, GASTONIA, NC 28053

Signing Officer

Name
Greg Botner
Title
Chairman
Phone
9802837200
Signed
2022-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Botner
Formed
2014
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
15
Employees
2
Volunteers
12

Preparer

Firm
Mccannon Rogers Driscoll & Assoc Llp
Address
PO BOX 339, GASTONIA, NC 28053-0339
Preparer
Stephen B Driscoll
Phone
7048670264
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The ggdc is a private sector led non-profit corporation, formed in 2014 for the sole purpose of strengthening factors influencing gaston county's economic competitiveness. The organization has served as a leader, catalyst, convener, and facilitator of strategic initiatives designed to unite and align public, private, and non-profit entities behind a pro- growth agenda. The ultimate goal of these efforts is to substantially increase capital investment and sustainable job development in gaston county. Since the ggdc's 2014 inception, gaston county enjoyed moderate incremental economic development success. But in 2019, it found itself at an inflection point in its growth trajectory. With strong development momentum occurring throughout the county, the ggdc in conjunction with partners worked to identify and address the associated opportunities and challenges to ensure long-term community benefit. The ggdc-strategically and uniquely positioned to help create and drive forward gaston-helped instill a sense of community and leader ownership of gaston county's economic future through its advocacy for a bold and robust vision and action.

Form 990, Page 2, Part III, Line 4A

The positive economic prospects our gaston county community faced in 2019 did not randomly appear. The ggdc, along with the public and private sectors, worked collaboratively to position gaston county to create and take advantage of growth opportunities. Much of the ggdc's early efforts were guided by the organization's 2014 alliance for growth plan, developed in partnership with over 100 gaston county leaders, which focused on seven strategic growth priorities comprised of 1) countywide image building & marketing, 2) entrepreneurial & small business growth, 3) workforce preparedness, 4) new & expanded business recruitment, 5) growth & regulatory processes, 6) sites, buildings, & infrastructure, and 7) transportation & access. In 2019, the ggdc was engaged in a number of activities in support of its mission. Advocacy for transportation infrastructure investments, like advancing a comprehensive multijurisdictional multimodal transportation vision for the charlotte region, was a major component of ggdc efforts. The gaston outside campaign, launched in june 2016 to build awareness within the real estate, business, and homebuyer audiences of economic opportunities throughout gaston county, enjoyed its most successful year to date in 2019. The ggdc was also instrumental in the creating, leading, and supporting the 2019 gaston economic development strategy committee and resulting report, which led to a third-party economic development assessment of greater gaston. Assessment findings resulted in economic development being identified by the board of county commissioners as a high priority for gaston county in 2020. Since the assessment's delivery in late 2019, the ggdc worked in close partnership with the county manager's office and partners to develop a comprehensive countywide economic development strategy, helping lead gaston county to a prosperous and robust economic future. For the important work of the ggdc, the organization was recognized in two 2019 moments for its years' worth of collaborative efforts: february 2019 - the ggdc received the annual epic award from the montcross chamber of commerce for innovative collaborative strategies and approaches. May 2019 - the ggdc received the annual community leadership award from the gaston together: communities of excellence in recognition of the gaston outside (go) image and marketing campaign. Moving into 2020, the ggdc looks forward to creating an environment of strategic level thinking among partners, aligning the public, private, and nonprofit sectors around a holistic vision of gaston county's future, and working aggressively to achieve this vision.

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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
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IRS990/MissionDesc0THE GGDC IS A PRIVATE SECTOR LED NON-PROFIT CORPORATION, FORMED IN 2014 FOR THE SOLE PURPOSE OF STRENGTHENING FACTORS INFLUENCING GASTON COUNTY'S ECONOMIC COMPETITIVENESS. THE ORGANIZATION HAS SERVED AS A LEADER, CATALYST, CONVENER, AND FACILITATOR OF STRATEGIC INITIATIVES DESIGNED TO UNITE AND ALIGN PUBLIC, PRIVATE, AND NON-PROFIT ENTITIES BEHIND A PRO- GROWTH AGENDA. THE ULTIMATE GOAL OF THESE EFFORTS IS TO SUBSTANTIALLY INCREASE CAPITAL INVESTMENT AND SUSTAINABLE JOB DEVELOPMENT IN GASTON COUNTY. SINCE THE GGDC'S 2014 INCEPTION, GASTON COUNTY ENJOYED MODERATE INCREMENTAL ECONOMIC DEVELOPMENT SUCCESS. BUT IN 2019, IT FOUND ITSELF AT AN INFLECTION POINT IN ITS GROWTH TRAJECTORY. WITH STRONG DEVELOPMENT MOMENTUM OCCURRING THROUGHOUT THE COUNTY, THE GGDC IN CONJUNCTION WITH PARTNERS WORKED TO IDENTIFY AND ADDRESS THE ASSOCIATED OPPORTUNITIES AND CHALLENGES TO ENSURE LONG-TERM COMMUNITY BENEFIT. THE GGDC-STRATEGICALLY AND UNIQUELY POSITIONED TO HELP CREATE AND DRIVE FORWARD GASTON-HELPED
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PATRICK MUMFORD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0GASTON BUSINESS ASSOCIATION
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PATRICK MUMFORD WAS CEO OF ORGANIZATION AND IS NOW CEO OF GASTON BUSINESS ASSOCIATION, THE ENTITY TO WHICH THE ASSETS WERE TRANSFERRED.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N, PAGE 1, PART I, LINE 2E
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GGDC IS A PRIVATE SECTOR LED NON-PROFIT CORPORATION, FORMED IN 2014 FOR THE SOLE PURPOSE OF STRENGTHENING FACTORS INFLUENCING GASTON COUNTY'S ECONOMIC COMPETITIVENESS. THE ORGANIZATION HAS SERVED AS A LEADER, CATALYST, CONVENER, AND FACILITATOR OF STRATEGIC INITIATIVES DESIGNED TO UNITE AND ALIGN PUBLIC, PRIVATE, AND NON-PROFIT ENTITIES BEHIND A PRO- GROWTH AGENDA. THE ULTIMATE GOAL OF THESE EFFORTS IS TO SUBSTANTIALLY INCREASE CAPITAL INVESTMENT AND SUSTAINABLE JOB DEVELOPMENT IN GASTON COUNTY. SINCE THE GGDC'S 2014 INCEPTION, GASTON COUNTY ENJOYED MODERATE INCREMENTAL ECONOMIC DEVELOPMENT SUCCESS. BUT IN 2019, IT FOUND ITSELF AT AN INFLECTION POINT IN ITS GROWTH TRAJECTORY. WITH STRONG DEVELOPMENT MOMENTUM OCCURRING THROUGHOUT THE COUNTY, THE GGDC IN CONJUNCTION WITH PARTNERS WORKED TO IDENTIFY AND ADDRESS THE ASSOCIATED OPPORTUNITIES AND CHALLENGES TO ENSURE LONG-TERM COMMUNITY BENEFIT. THE GGDC-STRATEGICALLY AND UNIQUELY POSITIONED TO HELP CREATE AND DRIVE FORWARD GASTON-HELPED INSTILL A SENSE OF COMMUNITY AND LEADER OWNERSHIP OF GASTON COUNTY'S ECONOMIC FUTURE THROUGH ITS ADVOCACY FOR A BOLD AND ROBUST VISION AND ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POSITIVE ECONOMIC PROSPECTS OUR GASTON COUNTY COMMUNITY FACED IN 2019 DID NOT RANDOMLY APPEAR. THE GGDC, ALONG WITH THE PUBLIC AND PRIVATE SECTORS, WORKED COLLABORATIVELY TO POSITION GASTON COUNTY TO CREATE AND TAKE ADVANTAGE OF GROWTH OPPORTUNITIES. MUCH OF THE GGDC'S EARLY EFFORTS WERE GUIDED BY THE ORGANIZATION'S 2014 ALLIANCE FOR GROWTH PLAN, DEVELOPED IN PARTNERSHIP WITH OVER 100 GASTON COUNTY LEADERS, WHICH FOCUSED ON SEVEN STRATEGIC GROWTH PRIORITIES COMPRISED OF 1) COUNTYWIDE IMAGE BUILDING & MARKETING, 2) ENTREPRENEURIAL & SMALL BUSINESS GROWTH, 3) WORKFORCE PREPAREDNESS, 4) NEW & EXPANDED BUSINESS RECRUITMENT, 5) GROWTH & REGULATORY PROCESSES, 6) SITES, BUILDINGS, & INFRASTRUCTURE, AND 7) TRANSPORTATION & ACCESS. IN 2019, THE GGDC WAS ENGAGED IN A NUMBER OF ACTIVITIES IN SUPPORT OF ITS MISSION. ADVOCACY FOR TRANSPORTATION INFRASTRUCTURE INVESTMENTS, LIKE ADVANCING A COMPREHENSIVE MULTIJURISDICTIONAL MULTIMODAL TRANSPORTATION VISION FOR THE CHARLOTTE REGION, WAS A MAJOR COMPONENT OF GGDC EFFORTS. THE GASTON OUTSIDE CAMPAIGN, LAUNCHED IN JUNE 2016 TO BUILD AWARENESS WITHIN THE REAL ESTATE, BUSINESS, AND HOMEBUYER AUDIENCES OF ECONOMIC OPPORTUNITIES THROUGHOUT GASTON COUNTY, ENJOYED ITS MOST SUCCESSFUL YEAR TO DATE IN 2019. THE GGDC WAS ALSO INSTRUMENTAL IN THE CREATING, LEADING, AND SUPPORTING THE 2019 GASTON ECONOMIC DEVELOPMENT STRATEGY COMMITTEE AND RESULTING REPORT, WHICH LED TO A THIRD-PARTY ECONOMIC DEVELOPMENT ASSESSMENT OF GREATER GASTON. ASSESSMENT FINDINGS RESULTED IN ECONOMIC DEVELOPMENT BEING IDENTIFIED BY THE BOARD OF COUNTY COMMISSIONERS AS A HIGH PRIORITY FOR GASTON COUNTY IN 2020. SINCE THE ASSESSMENT'S DELIVERY IN LATE 2019, THE GGDC WORKED IN CLOSE PARTNERSHIP WITH THE COUNTY MANAGER'S OFFICE AND PARTNERS TO DEVELOP A COMPREHENSIVE COUNTYWIDE ECONOMIC DEVELOPMENT STRATEGY, HELPING LEAD GASTON COUNTY TO A PROSPEROUS AND ROBUST ECONOMIC FUTURE. FOR THE IMPORTANT WORK OF THE GGDC, THE ORGANIZATION WAS RECOGNIZED IN TWO 2019 MOMENTS FOR ITS YEARS' WORTH OF COLLABORATIVE EFFORTS: FEBRUARY 2019 - THE GGDC RECEIVED THE ANNUAL EPIC AWARD FROM THE MONTCROSS CHAMBER OF COMMERCE FOR INNOVATIVE COLLABORATIVE STRATEGIES AND APPROACHES. MAY 2019 - THE GGDC RECEIVED THE ANNUAL COMMUNITY LEADERSHIP AWARD FROM THE GASTON TOGETHER: COMMUNITIES OF EXCELLENCE IN RECOGNITION OF THE GASTON OUTSIDE (GO) IMAGE AND MARKETING CAMPAIGN. MOVING INTO 2020, THE GGDC LOOKS FORWARD TO CREATING AN ENVIRONMENT OF STRATEGIC LEVEL THINKING AMONG PARTNERS, ALIGNING THE PUBLIC, PRIVATE, AND NONPROFIT SECTORS AROUND A HOLISTIC VISION OF GASTON COUNTY'S FUTURE, AND WORKING AGGRESSIVELY TO ACHIEVE THIS VISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN E-MAIL IS SENT, NOTIFYING EACH BOARD MEMBER, THAT THE RETURN IS AVAILABLE FOR REVIEW AT THE OFFICE AND THROUGH E-MAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE CONFLICT OF INTEREST POLICY IS PROVIDED TO EACH BOARD MEMBER. ANY CONFLICTS OF INTEREST ARE ADDRESSED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BASED UPON AN ANNUAL REIVEW BY THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL OTHER OFFICERS OR KEY EMPLOYEES ARE REVIEWED ANNUALLY BY THE EXECUTIVE DIRECTOR AND REPORTED TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCCANNON ROGERS DRISCOLL & ASSOC LLP

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