Who, Exactly, is 1982?
A look through local deed work and business registrations.
(Editor’s Note: The following is “Intercepted Information,” part of a communication sent to another entity. All of the deed and business information is available online, and though the platforms that present the information make it impossible to link to here, I have checked and confirmed the online documentation. Author name withheld.)
It appears that the 501(c)(3) non-profit corporation – the 1982 Foundation – has created three subsidiary for-profit corporations, which are not separate at all from 1982. They have the same organizer and director, Crystal Mersh, and only one of them has a single additional officer.
The 1982 Foundation is using these for-profit corporations to do its multi-million dollar business. Because they are for-profit corporations, their records are not public.
In March 2023, Crystal Mersh, Director and principal officer of the 1982 Foundation, formed three for-profit corporations:
Calhoun Community Center Landlord, LLC (WV ID 552590),
Calhoun Community Center Manager, LLC (WV ID 552588) and
Calhoun Investment Fund, LLC (a WV LLC).
According to the WV Secretary of State’s records, the Community Center corporations have only one officer – Crystal Mersh. The Calhoun Investment Fund, LLC has one additional officer, Mersh’s husband Robin Mersh.
The 1982 Foundation “was created with its sole mission of converting the old Calhoun County High School into the Calhoun County Community Center to provide recreational activities and community support to the children and residents of Calhoun County.” (1982 Foundation, IRS 990)
On July 27, 2023, the 1982 Foundation leased all its real property to the for-profit Calhoun Community Center Landlord (Calhoun County deed book 303 at 124). The real property is the old high school building and surrounding land.
On the same day, July 27, 2023, the Calhoun Community Center Landlord, leased the same property back to the 1982 Foundation. (Calhoun County deed book 303 at 131).
On the same day, July 27, 2023, the 1982 Foundation, Calhoun Investment Fund, and the Calhoun Community Center Landlord entered into an agreement with CV Appalachian Investments 12, LLC, a Kentucky corporation. CV Appalachian Investments agreed to loan the Community Center Landlord in the aggregate amount of $7,275,000 secured by a Deed of Trust. (Calhoun Deed Book 303 at 138.)
The document recites that the Community Center Landlord “intends to rehabilitate and develop the historic building.” That is, of course, the non-profit 1982 Foundation, not the for-profit Community Center Landlord.
The Credit Line Deed of Trust between CV Appalachian Investments (lender) and Calhoun Community Center (grantor) is secured by all the real property of the Calhoun Community Center, which is, in effect, all the real property of the 1982 Foundation. (Calhoun Trust Deed Book at 188 at 109.)
Added by the Editor:
Has anyone out there seen such convolution in deed work? While all this may be legal, who, exactly received the $7,275,000 in funds, and with the 1982 Foundation property as collateral, who is beholden to repay this loan? And why is a private LLC receiving funds that uses non-profit property for collateral? And who owns the property if the loan is not repaid?
Although none of the entities listed here are required to explain themselves or open their financials to the public or community stakeholders, these are STILL VALID QUESTIONS. And, a one-time effort to be transparent, educate, and explain the convoluted setup would go a long way in swaying community concerns.
Apparently, the Foundation, president, board members, cronies, and affiliated publishers would rather spend time and effort slandering and attacking those who ask questions instead of answering questions.
But we’re not going to stop asking.
The 1982 foundation is a non-profit and IS required to make its IRS 990s public - although they haven't filed on since 2021. (You can check at the IRS charity website.) It's the for-profits that are not required to make their info public so it seems 1982 is hiding its business behind non-profits. Am I right?