6/8/13

The International Civil Rights Museum's 2011 IRS tax form 990 and what looks like a bailout for BB&T and wealthy investors, with what looks like some pretty important unanswered questions

BB&T syndicated the museum tax credits for investors.

Council members who voted yes on Skip's $150,000 brokerage commission: Mayor Pro Tem Yvonne Johnson, Jim Kee, Zack Matheny, Mayor Robbie Perkins and Tony Wilkins.

Who voted no: Marikay Abuzuaiter, T. Dianne Bellamy-Small, Nancy Hoffmann and Nancy Vaughan.

Guess who get's the Simkins PAC endorsements this year?


Concerned Citizens of Northeast Greensboro; Ralph Johnson / Jim Kee / Robbie Perkins / Skip Alston / Simkins PAC

Why would Robbie Perkins and Jim Kee champion giving away $4,474,100 of everyone else's money?

Bessemer/Renaissance Center Analysis, Motion, Statutes; The questions have been emailed to the city as information requests

Who are the museum's landlords?

http://www.guidestar.org/FinDocuments/2011/561/856/2011-561856093-08782e17-9.pdf
Why did the museum need an extension, and where are the completed 990's for 2011, and 2012?

http://www.guidestar.org/FinDocuments/2011/561/856/2011-561856093-08782e17-9.pdf
Who gets the development fee?
 
http://www.guidestar.org/FinDocuments/2011/561/856/2011-561856093-08782e17-9.pdf
Who gets the Asset Management Fee?


http://www.guidestar.org/FinDocuments/2011/561/856/2011-561856093-08782e17-9.pdf
Why did total liabilities almost double year over year?
 
http://www.guidestar.org/FinDocuments/2011/561/856/2011-561856093-08782e17-9.pdf
Why has total support dropped so sharply?
 
http://www.guidestar.org/FinDocuments/2011/561/856/2011-561856093-08782e17-9.pdf
Why are these links not operable?
 
 
 
 
 
 
"The museum is currently owned by Museum Landlord LLC – a for-profit company – not the non-profit corporation Sit-In Movement Inc., which holds the annual banquet and has been working on getting the museum open since 1993.

Museum Landlord LLC owns the building and land, and is itself owned by ICRMC LLC, a for-profit company. Alston is the only member of ICRCM LLC listed, but he said Jones is also a member of the LLC.

Alston said the other members of the LLC, who actually own the museum, are Greensboro attorney Doug Harris, retired vice president of community relations for WFMY-TV Shirley Frye, Smith Moore Leatherwood attorney Carol Bruce and President of the Weaver Foundation Skip Moore."
 
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Why is the tax assessment so low?
 
$13,138,000 Package Sale Price - $3,873,000 Appraised Value?
 
http://taxweb.co.guilford.nc.us/camapublicaccess/PropertySummary.aspx?REID=0000002&pageIndex=0
 
If their annual tax bill from 2012 was $29,442, and the bill was cut in about half, with the rest "deferred", when does the deferred money get paid?
 
http://taxweb.co.guilford.nc.us/publicwebaccess/BillDetails.aspx?BillPk=7597526
 


4 comments:

Brutarius said...

Hi George,

The 990 you have posted is for tax year 2011. It says in handwriting "amended" across the top.

Brutarius said...

The Form 990 is for tax year 2011. You do say 2011 in the headline but in the body copy of your post you ask where the form 990 for tax year is. I downloaded it and the sections you've posted it match what I've got.

I'm digging into this but it looks like it get complicated.

Brutarius said...

I believe you have the Form 990 for tax year 2011 posted here. I have a copy of it and it says "amended" in handwriting across the top.

It looks like getting all the way to the bottom of this could be complicated.

The News & Record article was conspicuous for its lack of full information

Brutarius said...

I believe you have the Form 990 for tax year 2011 posted here. I have a copy of it and it says "amended" in handwriting across the top.

It looks like getting all the way to the bottom of this could be complicated.

The News & Record article was conspicuous for its lack of full information