Civic Intelligence

Warren County Public Facilities Company

990 • Fiscal year 2018 • EIN 56-2218980

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 24, 2018

Organization ProfileN/A
501 US Hwy 158-business EastWarrenton, NC 27589

(252) 257-3114

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.76x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

17.41x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • NTEE S • $1M-$5M nonprofits • Source year 2018

Asset Growth

34th percentile

-2.8%

Faster asset growth than 34% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

76th percentile

22%

Faster revenue growth than 76% of similar nonprofits.

2018 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$3,432,479

Down $100,550 (-2.8%) from 2017

Net Assets

Up

$810,390

Up $144,734 (+22%) from 2017

Liabilities

Down

$2,622,089

Down $245,284 (-8.6%) from 2017

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin98th percentile

Revenue

Up

$150,634

Up $26,720 (+22%) from 2017

Expenses

Down

$5,900

Down $765 (-11%) from 2017

Net Income

Up

$144,734

Up $27,485 (+23%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $823,011Liabilities 2011: $701,653Net Assets 2011: $121,3582011Assets 2012: $823,542Liabilities 2012: $648,710Net Assets 2012: $174,8322012Assets 2013: $808,903Liabilities 2013: $581,326Net Assets 2013: $227,5772013Assets 2014: $2,465,977Liabilities 2014: $2,161,121Net Assets 2014: $304,8562014Assets 2015: $3,739,745Liabilities 2015: $3,329,141Net Assets 2015: $410,6042015Assets 2016: $3,651,450Liabilities 2016: $3,103,043Net Assets 2016: $548,4072016Assets 2017: $3,533,029Liabilities 2017: $2,867,373Net Assets 2017: $665,6562017Assets 2018: $3,432,479Liabilities 2018: $2,622,089Net Assets 2018: $810,3902018Assets 2019: $3,345,032Liabilities 2019: $2,366,800Net Assets 2019: $978,2322019Assets 2020: $3,257,807Liabilities 2020: $2,101,337Net Assets 2020: $1,156,4702020Assets 2021: $3,163,905Liabilities 2021: $1,824,805Net Assets 2021: $1,339,1002021Assets 2024: $3,509,551Liabilities 2024: $1,509,990Net Assets 2024: $1,999,5612024Assets 2025: $3,568,839Liabilities 2025: $1,407,291Net Assets 2025: $2,161,5482025

Highlighted filing

2018

Assets$3,432,479
Liabilities$2,622,089
Net Assets$810,390
Open 2018 Filing

Operations Trend

Revenue Growth76th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0Revenue 2011: $23,896Expenses 2011: $3,575Net Income 2011: $20,3212011Revenue 2012: $57,099Expenses 2012: $3,625Net Income 2012: $53,4742012Expenses 2013: $3,6702013Revenue 2014: $81,124Expenses 2014: $3,845Net Income 2014: $77,2792014Revenue 2015: $113,173Expenses 2015: $7,425Net Income 2015: $105,7482015Revenue 2016: $144,353Expenses 2016: $6,550Net Income 2016: $137,8032016Revenue 2017: $123,914Expenses 2017: $6,665Net Income 2017: $117,2492017Revenue 2018: $150,634Expenses 2018: $5,900Net Income 2018: $144,7342018Revenue 2019: $173,743Expenses 2019: $5,900Net Income 2019: $167,8432019Revenue 2020: $182,738Expenses 2020: $4,500Net Income 2020: $178,2382020Revenue 2021: $187,130Expenses 2021: $4,500Net Income 2021: $182,6302021Revenue 2024: $238,750Expenses 2024: $4,919Net Income 2024: $233,8312024Revenue 2025: $167,350Expenses 2025: $4,887Net Income 2025: $162,4632025

Highlighted filing

2018

Revenue$150,634
Expenses$5,900
Net Income$144,734
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 24, 2018
Return Version
2017v2.3
Gross Receipts
$369,822
Mission and Program Overview

Mission

To promote economic development in warren county, nc as an entity to hold title to land and buildings for industrial development in the county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,363,450$3,265,822▼ $97,628
Cash and Non-Interest-Bearing Accounts$169,579$166,657▼ $2,922
Total Assets$3,533,029$3,432,479▼ $100,550
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,827,254$2,582,775▼ $244,479
Deferred Revenue$30,813$30,813→ $0
Other Liabilities$9,306$8,501▼ $805
Total Liabilities$2,867,373$2,622,089▼ $245,284
Net Assets / Fund Balance
Unrestricted Net Assets$665,656$810,390▲ $144,734
Total Net Assets Fund Balance$665,656$810,390▲ $144,734
Total Liabilities and Net Assets / Fund Balance$3,533,029$3,432,479▼ $100,550

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,217,735$658,094-
Land$48,087--
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Oscar MeekPresident
Robert F Davie JrVice President
James C HarrisBoard Member
John E AlstonBoard Member
Kenneth HawkinsBoard Member
Marvin P RookerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$66
Other Revenue
$150,568
Change in Net Assets
$144,734

Audited Revenue Reconciliation

Revenue per Audited Statements
$150,634
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$150,634
Total Revenue per Form 990
$150,634
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,900
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$5,900-$5,900
Total Functional Expenses$0$5,900$0$5,900

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,900
Total Expenses per Audited Statements$5,900
Total Expenses per Form 990$5,900
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$8,501
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Copies of the completed form 990 are submitted to the chairperson, treasure, and secretary of the bod for their review prior to the 990 being signed and submitted.”

Form 990, Part VI, Section C, Line 19

“The audited financial statements and other records including 990 filings are on file at the warren county economic development co. Office and are available for public review upon request.”

Filing and Contact Details

Filer

Filer Name
Warren County Public Facilities Company
EIN
56-2218980
Phone
2522573114
Address
501 US HWY 158-BUSINESS EAST, WARRENTON, NC 27589

Signing Officer

Name
Oscar L Meek
Title
President
Phone
2522573114
Signed
2018-10-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Oscar L Meek
Formed
1999
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Potter & Company Pa
Address
106 WELTON WAY, MOORESVILLE, NC 28117
Preparer
Robert W Taylor CPA
Phone
7046623146
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The company has adopted asc 740-10 as it relates to uncertain tax positions for the year ended june 30, 2018 and has evaluated its tax positions taken for all open tax years. Currently, the 2015, 2016 and 2017 tax years are open and subject to examination by the internal revenue service and north carolina department of revenue. However, the company is not currently under audit nor has the company been contacted by any of these jurisdictions. Based on the evaluation of the companys tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended june 30, 2018. Additionally, the company has no interest or penalties related to income taxes.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“RENTAL EXPENSES”

Form 990 Parts I and VIII

“Form 990 parts i and viii present revenue net of rental expenses. Amounts per audited financial statements are presented as gross.”

Raw XML Appendix336 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY HAS ADOPTED ASC 740-10 AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2018 AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. CURRENTLY, THE 2015, 2016 AND 2017 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND NORTH CAROLINA DEPARTMENT OF REVENUE. HOWEVER, THE COMPANY IS NOT CURRENTLY UNDER AUDIT NOR HAS THE COMPANY BEEN CONTACTED BY ANY OF THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE COMPANYS TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JUNE 30, 2018. ADDITIONALLY, THE COMPANY HAS NO INTEREST OR PENALTIES RELATED TO INCOME TAXES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FORM 990 PARTS I AND VIII PRESENT REVENUE NET OF RENTAL EXPENSES. AMOUNTS PER AUDITED FINANCIAL STATEMENTS ARE PRESENTED AS GROSS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PARTS I AND VIII
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COPIES OF THE COMPLETED FORM 990 ARE SUBMITTED TO THE CHAIRPERSON, TREASURE, AND SECRETARY OF THE BOD FOR THEIR REVIEW PRIOR TO THE 990 BEING SIGNED AND SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE AUDITED FINANCIAL STATEMENTS AND OTHER RECORDS INCLUDING 990 FILINGS ARE ON FILE AT THE WARREN COUNTY ECONOMIC DEVELOPMENT CO. OFFICE AND ARE AVAILABLE FOR PUBLIC REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03533029
IRS990/TotalAssetsEOYAmt03432479
IRS990/TotalAssetsGrp/BOYAmt03533029
IRS990/TotalAssetsGrp/EOYAmt03432479
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05900
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt05900
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02867373
IRS990/TotalLiabilitiesEOYAmt02622089
IRS990/TotalLiabilitiesGrp/BOYAmt02867373
IRS990/TotalLiabilitiesGrp/EOYAmt02622089
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0665656
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0810390
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0150634
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0150634
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03533029
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03432479
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0665656
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0810390
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0501 US HWY 158-BUSINESS EAST
IRS990/USAddress/CityNm0WARRENTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027589
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0OSCAR L MEEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02522573114
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WARREN COUNTY PUBLIC FACILITIES COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0WARR
ReturnHeader/Filer/EIN0562218980
ReturnHeader/Filer/PhoneNum02522573114
ReturnHeader/Filer/USAddress/AddressLine1Txt0501 US HWY 158-BUSINESS EAST
ReturnHeader/Filer/USAddress/CityNm0WARRENTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027589
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId05C511D7D7579B682110178C91BC4B237A7A01607
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05C511D7D7579B682110178C91BC4B237A7A01607
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.60.199.245
ReturnHeader/FilingSecurityInformation/IPDt02018-10-24
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm009:35:58
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561220683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0POTTER & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0106 WELTON WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOORESVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028117
ReturnHeader/PreparerPersonGrp/PhoneNum07046623146
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT W TAYLOR CPA
ReturnHeader/ReturnTs02018-10-29T09:27:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,432,479
Liabilities
$2,622,089
Net assets
$810,390
Revenue
$150,634
Expenses
$5,900
Net income
$144,734
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.57$1.41$2.16$0.17$0.00$0.16
2024Summary only. Only limited summary data is available for this year.$3.51$1.51$2.00$0.24$0.00$0.23
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.16$1.82$1.34$0.19$0.00$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.26$2.10$1.16$0.18$0.00$0.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.35$2.37$0.98$0.17$0.01$0.17
2018Detailed filing. Detailed filing data is available for this year.$3.43$2.62$0.81$0.15$0.01$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.53$2.87$0.67$0.12$0.01$0.12
2016Detailed filing. Detailed filing data is available for this year.$3.65$3.10$0.55$0.14$0.01$0.14
2015Detailed filing. Detailed filing data is available for this year.$3.74$3.33$0.41$0.11$0.01$0.11
2014Detailed filing. Detailed filing data is available for this year.$2.47$2.16$0.30$0.08$0.00$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.58$0.23$0.00
2012Summary only. Only limited summary data is available for this year.$0.82$0.65$0.17$0.06$0.00$0.05
2011Summary only. Only limited summary data is available for this year.$0.82$0.70$0.12$0.02$0.00$0.02