2025-03-31T18:06:10-05:00 2024-06-30 844233121 SHARPE PATEL CPA 5510 SIX FORKS ROAD SUITE 140 RALEIGH NC 27609 990 2023-07-01 562095185 RALEIGH CIVIC VENTURES INC RALE 9198321231 333 FAYETTEVILLE STREET SUITE 1150 RALEIGH NC 27601 BILL KING PRESIDENT & CEO 9198321231 2025-02-24 1 1 REBECCA FISHER P00963410 7044993893 2025-02-24 2023 2025-03-06 01:10:19Z BILL KING 333 FAYETTEVILLE STREET SUITE 1150 RALEIGH NC 27601 182465 0 X RALEIGHCIVICVENTURES.ORG X 1998 NC TO UNDERTAKE SPECIAL PROJECTS THAT SUPPORT AND COMPLEMENT THE MISSION OF THE DOWNTOWN RALEIGH ALLIANCE AND TO CONTINUE REVITALIZING RALEIGH'S DOWNTOWN DISTRICT. 9 8 0 50 0 0 163200 85975 118923 96124 72 366 0 0 282195 182465 0 0 0 0 0 0 0 0 0 229243 268843 229243 268843 52952 -86378 320637 203566 132414 101721 188223 101845 TO UNDERTAKE SPECIAL PROJECTS THAT SUPPORT AND COMPLEMENT THE MISSION OF THE DOWNTOWN RALEIGH ALLIANCE AND TO CONTINUE REVITALIZING RALEIGH'S DOWNTOWN DISTRICT. 0 0 227429 96124 THE PRIMARY GOAL OF THE SPECIAL PROGRAMS AND EVENTS SERVICE IS TO CREATE MEMORABLE EXPERIENCES FOR VISITORS, RESIDENTS, AND WORKERS IN DOWNTOWN RALEIGH. OUTDOOR EVENTS ACTIVATED PUBLIC SPACES WITH OVER 3,500 ATTENDEES IN FY24. THE ANNUAL RALEIGH TREE LIGHTING FEATURED MUSIC, SANTA FOR THE KIDS, FOOD TRUCKS, LOCAL BUSINESS VENDORS, AS WELL AS A VISIT FROM RALEIGH'S MAYOR. THE DOWNTOWN BANNER AND FLAG PROGRAM ALSO PROVIDES VISUAL ENHANCEMENT ALONG RALEIGH'S STREETSCAPE. 227429 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 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 8 0 0 0 0 0 0 0 0 0 0 X 9 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 1 1 0 0 NC X LIZ MARTINI 9198321231 333 FAYETTEVILLE STREET SUITE 1150 RALEIGH NC 27601 DAVID MEEKER RCV BOARD CHAIR 1.00 1.00 X X 0 0 0 SKIP HILL RCV BOARD VICE CHAIR 1.00 1.00 X X 0 0 0 JOSEPH BO DEMPSTER RCV BOARD LEGAL COUNSEL 1.00 1.00 X X 0 0 0 TIA MCLAURIN RCV BOARD SECRETARY 1.00 1.00 X X 0 0 0 MIKE MUNN RCV BOARD TREASURER 1.00 1.00 X X 0 0 0 ALLYSON DICKENS RCV AT-LARGE MEMBER 1.00 1.00 X 0 0 0 PAULETTE DILLARD RCV AT-LARGE MEMBER 1.00 1.00 X 0 0 0 BRITT THOMAS RCV AT-LARGE MEMBER 1.00 1.00 X 0 0 0 BILL KING PRESIDENT & CEO 20.00 20.00 X X 0 188008 0 0 188008 0 0 0 1 0 0 85975 85975 BANNERS 711300 92830 92830 TREE LIGHTING PROGRAM 900099 3294 3294 96124 366 366 182465 96124 0 366 X 306 306 847 847 40000 40000 1757 1496 261 BANNERS/FLAGS EXPENSE 94847 94847 WINTERFEST EXPENSE 53943 53943 PUBLIC ART 30247 30247 ARPA-MAIN ST. PROGRAM 19593 19593 27303 27303 268843 227429 41414 0 293675 171832 10514 10881 13913 20373 148 55303 54971 2535 332 320637 203566 31911 29826 40000 100503 31895 132414 101721 X 188223 101845 188223 101845 320637 203566 -86378 0 X 0 1 X 1 0 X X 1 DOWNTOWN RALEIGH ALLIANCE INC 561994005 6 1 40000 0 1 40000 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55303 54971 332 332 PAYABLE DUE TO DRA 31895 31895 X PART X, LINE 2: RALEIGH CIVIC VENTURES INC. (THE ORGANIZATION") IS EXEMPT FROM INCOME TAXES AS A NOT-FOR-PROFIT ORGANIZATION UNDER INTERNAL REVENUE SERVICE ("IRS") CODE SECTION 501(C)(3). DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, THE ORGANIZATION DID NOT HAVE ANY INCOME SUBJECT TO TAXATION AS UNRELATED BUSINESS TAXABLE INCOME. THE ORGANIZATION EVALUATES ANY UNCERTAIN TAX POSITIONS. ACCORDINGLY, THE ORGANIZATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE ORGANIZATION, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION OF MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT DOES NOT BELIEVE ANY SIGNIFICANT INCOME TAX UNCERTAINTIES EXIST AS OF JUNE 30, 2024 AND 2023. 0 0 0 0 0 0 0 0 0 BILL KING PRESIDENT & CEO 0 188008 0 0 0 0 0 0 0 0 0 188008 0 0 PART I, LINE 1B RALEIGH CIVIC VENTURES INC. (RCV) PAYS NO DIRECT COMPENSATION AS INDICATED IN PART VII. HOWEVER, COMPENSATION ELEMENTS INCLUDED IN THE INTERCOMPANY MANAGEMENT FEE WITH ITS AFFILIATED ORGANIZATION, DOWNTOWN RALEIGH ALLIANCE (DRA), AS CROSS-REFERENCED TO THE DISCLOSURE UNDER PART VI, LINE 3, ARE SUBJECT TO THE APPROPRIATE COMPENSATION POLICY MAINTAINED BY DRA. DRA HAS A COMPENSATION COMMITTEE THAT REVIEWS THE CEO'S PERFORMANCE ANNUALLY. THE COMMITTEE CONSISTS OF THE DRA'S CURRENT BOARD CHAIR, THE DRA'S IMMEDIATE PAST CHAIR, AND THE DRA'S INCOMING CHAIR. THE COMMITTEE SUPPLEMENTS THEIR REVIEW BY REFERENCING THE CEO'S SALARY SURVEY CREATED BY THE INTERNATIONAL DOWNTOWN ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 3 AS INDICATED ELSEWHERE IN THIS FORM 990, THE BOARD OF DIRECTORS OF RALEIGH CIVIC VENTURES (RCV) DELEGATED CONTROL OVER MANAGEMENT DUTIES TO ITS AFFILIATE ORGANIZATION, DOWNTOWN RALEIGH ALLIANCE (DRA), WITH WHOM THEY SHARE OFFICE SPACE AND PAID EMPLOYEES. DRA CHARGES A MANAGEMENT FEE TO RCV PER A MANAGEMENT AGREEMENT BETWEEN THE TWO COMPANIES, THE TERMS OF WHICH ARE INTENDED TO ENSURE ARM'S-LENGTH CONSIDERATION IS EXCHANGED BETWEEN THE ENTITIES FOR SERVICES RENDERED. HOWEVER, AT ITS DISCRETION, DRA MAY DECREASE THE AMOUNT BILLED IN ACCORDANCE WITH CASH FLOW RESTRAINTS. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE MANAGER, PRESIDENT/CEO, AND CHAIRMAN OF THE BOARD WILL REVIEW THE FORM 990 ON BEHALF OF THE BOARD OF DIRECTORS, WITH A FOLLOW-UP PROVIDED TO THE BOARD FOLLOWING THE EXECUTIVE REVIEW. ANY RELEVANT INQUIRIES ARE MADE TO THE ORGANIZATION'S EXTERNAL CPA FIRM FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15A RALEIGH CIVIC VENTURES INC. (RCV) PAYS NO DIRECT COMPENSATION AS INDICATED IN PART VII. HOWEVER, COMPENSATION ELEMENTS INCLUDED IN THE INTERCOMPANY MANAGEMENT FEE WITH ITS AFFILIATED ORGANIZATION, DOWNTOWN RALEIGH ALLIANCE (DRA), AS CROSS-REFERENCED TO THE DISCLOSURE UNDER PART VI, LINE 3, ARE SUBJECT TO THE APPROPRIATE COMPENSATION POLICY MAINTAINED BY DRA. DRA HAS A COMPENSATION COMMITTEE THAT REVIEWS THE CEO'S PERFORMANCE ANNUALLY. THE COMMITTEE CONSISTS OF THE DRA'S CURRENT BOARD CHAIR, THE DRA'S IMMEDIATE PAST CHAIR, AND THE DRA'S INCOMING CHAIR. THE COMMITTEE SUPPLEMENTS THEIR REVIEW BY REFERENCING THE CEO'S SALARY SURVEY CREATED BY THE INTERNATIONAL DOWNTOWN ASSOCIATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E MISCELLANEOUS: PROGRAM SERVICE EXPENSES 10,131. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,131. LIGHTING & BEAUTIFICATION: PROGRAM SERVICE EXPENSES 9,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,500. PROJECT REACH OUT: PROGRAM SERVICE EXPENSES 7,672. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,672. DOWNTOWN RALEIGH ALLIANCE INC 333 FAYETTEVILLE STREET SUITE 1150 RALEIGH NC 27601 561994005 REVITALIZATION NC 501(C)(6) N/A 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 DOWNTOWN RALEIGH ALLIANCE INC O 40000 MANAGEMENT CONTRACT DOWNTOWN RALEIGH ALLIANCE INC E 31895 OUTSTANDING A/P SCHEDULE R, PART V, LINE 2 THE TOTAL AMOUNT BILLED FOR THE MANAGEMENT AGREEMENT BETWEEN RALEIGH CIVIC VENTURES INC. (RCV) AND DOWNTOWN RALEIGH ALLIANCE INC. (DRA) FOR THE YEAR ENDED JUNE 30, 2024, WAS $40,000. THIS AMOUNT WAS FOR THE SHARING OF OFFICE SPACE AND PAID EMPLOYEES AS DISCLOSED ABOVE.