EXHIBIT 41¶
ECONOMIC DEVELOPMENT COMMISSION ANNUAL¶
OCT 15 2003¶
Company Name & Address: Financial Trust Company Inc. 6100 Red Hook Quarter B-3 St. [REDACTED] USVI 00802 Telephone No.: (340) 775-2525 Name / Signature of Preparer: Jeanne Brennan¶
(Name) Jeanne Brennan (Signature)¶
| Gross Sale (Incligible Sales ) Eligible for Tax Benefits | $ - | $ 95,687,311 |
|---|---|---|
| Gross Wages Paid In the V.L. (Include vacation & sick pay, bonuses, overtime, etc.) | $ - | $ 657,994 |
| Average No. of Employees; Full Time & (Part Time) | 11 ( - ) | |
| Average No. of Residents; Full Time & (Part Time) | 11 ( - ) | |
| Average No. of Non-Residents; Full Time & Part Time | - | |
| Other Employee Cost (Unemployment & Health Insurance, Pension, Allowances, etc.) | $ 126,013 | |
| Employee Income Taxes Paid and Withheld | $ 188,685 |
TAXES AND DUTIES (Provide dollar amount paid, and value of exemption / refund for each tax)¶
| Gross Receipts: | Amount Paid | $ - |
|---|---|---|
| Dollar Value of Exemption | $ 3,827,492 | |
| Real Property Tax: | Amount Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Excise Taxes: | Total Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Income Taxes: | Total Paid | $ 3,085,634 |
| Dollar Value of Exemption | $ 37,080,724 | |
| Customs Duties: | Total Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Other: | Hotel room taxes paid | $ - |
| Other Taxes, Fees Paid to V.I. Government | $ 135,884 = 2000 + 132,844 | |
| TOTAL TAXES PAID: | $ 3,218,478 | |
| TOTAL VALUE OF EXEMPTIONS AND/OR REFUNDS | $ 40,908,216 |
EXPENDITURES FOR GOODS, SERVICES, PLANT & EQUIPMENT¶
| Goods And Services | Eligible Suppliers | V.I. Suppliers | Non-Local | Total |
|---|---|---|---|---|
| Raw Materials, Components | ||||
| Food, Beverages | ||||
| Freight Charges | 67.73 | 234.24 | 301.97 | |
| Insurance | 4,752.00 | 16,304.12 | 21,056.32 | |
| Legal / Accounting | 27,424.00 | 23,881.00 | 137,288.99 | 188,593.99 |
| Advertising / Promotion | 2,757.00 | 2,757.00 | ||
| Utilities (Tel., Water, Elect., etc.) | 91.49 | 55,275.89 | 887.05 | 56,254.43 |
| Interest and Other Banking Charges | 1,841.84 | 30.43 | 1,872.27 | |
| Supplies | 5,872.66 | 4,718.94 | 1,479.19 | 12,070.79 |
| Repairs / Maintenance | 1,187.50 | 5,393.00 | 1,927.42 | 8,507.92 |
| Other (List Separately ) | 13059.00 | 154,933.53 | 80,268.85 | 448,261.58 |
| Sub-total, Goods and Services: | 47634.85 | 453,620.93 | 238,420.49 | 739,676.27 |
| Capital Expenditures: | ||||
| Building & Improvement | ||||
| Leasehold Improvements | ||||
| Machinery / Equipment | ||||
| Furniture / Fixtures | 572.00 | 21,860.00 | 505.29 | 22,937.29 |
| Vehicles | ||||
| Other (List Separately ) | ||||
| Subtotal, Capital Expend. | 572.00 | 21,860.00 | 505.29 | 22,937.29 |
| GRAND TOTALS | $1,206.85 | 475,450.93 | 238,925.78 | 765,613.56 |
| CUMULATIVE CAPITAL EXPENDITURE UNDER IDC CERTIFICATE | $87,468.29 |
ECONOMIC DEVELOPMENT COMMISSION ANNUAL Other Expenditures¶
| Goods And Services | Eligible Supplier | V.I. Suppliers | Non-Local | Total |
|---|---|---|---|---|
| Dues | - | 548.00 | 174.17 | 722.17 |
| Postage and delivery | 131.80 | 3,760.66 | 1,045.60 | 4,938.06 |
| Airfare | - | - | - | - |
| [REDACTED] market services | - | - | 63,161.08 | 63,161.08 |
| Start up costs | - | - | - | - |
| Charitable contributions | - | - | - | - |
| Company | - | 600.00 | - | 600.00 |
| Foundation | - | 265,589.78 | 15,888.00 | 281,477.78 |
| Co-op [REDACTED] | 12,500 | 15,500.00 | - | 12,500 |
| fee/compliance fees | 15,500.00 | |||
| Lodging and transportation | 427.40 | 11,507.49 | - | 11,934.89 |
| Rent | - | 72,927.60 | - | 72,927.60 |
| Sub-total Other | 16,059.20 | 354,933.53 | 80,268.85 | 451,201.58 |
| $130,079.20 | 448,261.58 |
② COMPLIANCE FEES - $3000.00¶
- $15,500 → CO-op INKT. FEES - $12,500.00