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Nonprofiteer
← GREATER WINSTON-SALEM DEVELOPMENT CORP

Form 990 for tax year 2024

Filed by GREATER WINSTON-SALEM DEVELOPMENT CORP.

Totals

Total revenue
$818,444
Total expenses
$1,028,564
Contributions and grants received
$748,403
Grants paid
$145,000
Program service revenue
$0
Investment income
$68,698
Other revenue
$1,343
Total assets, end of year
$2,110,610
Total liabilities, end of year
$234,589
Net assets or fund balances, end of year
$1,876,021
Program services expenses (Part IX)
$790,198
Management and general expenses
$238,366
Fundraising expenses
$0
Program service expenses (Part III)
$790,198

Program services were 76.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $285,031

  • 1e · Government grants (contributions)

    $301,874

  • 1f · All other contributions, gifts and grants

    $161,498

  • 3 · Investment income

    total $68,698 · excluded $68,698

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $1,343 · excluded $1,343

  • 11e · Other revenue, total

    $1,343

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $145,000 · program services $145,000

  • 5 · Compensation of officers, directors and key employees

    total $325,433 · program services $228,039 · management and general $97,394

  • 7 · Other salaries and wages

    total $232,229 · program services $165,870 · management and general $66,359

  • 8 · Pension plan contributions

    total $17,733 · program services $12,637 · management and general $5,096

  • 9 · Other employee benefits

    total $25,636 · program services $17,225 · management and general $8,411

  • 10 · Payroll taxes

    total $32,806 · program services $22,545 · management and general $10,261

  • 11b · Fees: legal

    total $4,000 · program services $2,560 · management and general $1,440

  • 11c · Fees: accounting

    total $5,133 · program services $3,285 · management and general $1,848

  • 11f · Fees: investment management

    total $2,349 · management and general $2,349

  • 11g · Fees: other

    total $3,824 · program services $3,824

  • 12 · Advertising and promotion

    total $54,975 · program services $54,975

  • 13 · Office expenses

    total $24,812 · program services $6,976 · management and general $17,836

  • 16 · Occupancy

    total $26,471 · program services $13,057 · management and general $13,414

  • 17 · Travel

    total $16,717 · program services $12,244 · management and general $4,473

  • 19 · Conferences, conventions and meetings

    total $11,510 · program services $10,515 · management and general $995

  • 22 · Depreciation, depletion and amortization

    total $3,543 · program services $2,303 · management and general $1,240

  • 23 · Insurance

    total $4,946 · program services $3,165 · management and general $1,781

  • 24a · Other expenses: MISCELLANEOUS

    total $39,886 · program services $39,685 · management and general $201

  • 24b · Other expenses: PROGRAM EVENTS

    total $27,934 · program services $27,934

  • 24c · Other expenses: OTHER PROGRAM FEES

    total $13,967 · program services $13,967

  • 24d · Other expenses: EQUIPMENT AND REPAIR

    total $7,706 · program services $4,392 · management and general $3,314

  • 24e · All other expenses

    total $1,954 · management and general $1,954

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $184,184 · end of year $214,950

  • 2 · Savings and temporary cash investments

    beginning of year $1,219,594 · end of year $1,178,392

  • 4 · Accounts receivable

    beginning of year $25,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,990 · end of year $2,140

  • 10a · Land, buildings and equipment: cost or other basis

    $24,774

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,029

  • 10c · Land, buildings and equipment, net

    beginning of year $15,288 · end of year $11,745

  • 12 · Investments: other securities

    beginning of year $628,632 · end of year $703,383

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,588 · end of year $8,633

  • 25 · Other liabilities

    beginning of year $73,425 · end of year $225,956

  • 27 · Net assets without donor restrictions

    beginning of year $1,212,915 · end of year $1,109,388

  • 28 · Net assets with donor restrictions

    beginning of year $820,260 · end of year $766,633

Mission and programs · 2024

Mission

TO RECRUIT NEW BUSINESSES TO WINSTON-SALEM AND FORSYTH COUNTY IN ORDER TO FACILITATE GROWTH AND ECONOMIC DIVERSIFICATION IN THE AREA.

Activities or mission (Part I)

TO FACILITATE GROWTH AND ECONOMIC DIVERSIFICATION IN WINSTON-SALEM AND FORSYTH COUNTY.

  • THE ORGANIZATION SUPPORTS THE LOCAL BUSINESS COMMUNITY IN ITS EFFORT TO INCREASE INVESTMENT AND JOBS THROUGHOUT FORSYTH COUNTY, NC. WE TARGET THE FOLLOWING INDUSTRIES FOR ECONOMIC GROWTH AND EXPANSION: HEALTHCARE/LIFE SCIENCE, AEROSPACE/AVIATION, HEADQUARTERS & BUSINESS SERVICES, ADVANCED MANUFACTURING (TRANSPORTATION/LOGISTICS AND FOOD & BEVERAGE MANUFACTURING), TECHNOLOGY & HIGH GROWTH ENTREPRENEURSHIP. WE EMPHASIZE INNOVATION AND ENTREPRENEURSHIP ACROSS ALL TARGET SECTORS, TO RECOGNIZE WINSTON-SALEM'S STRENGTH IN INNOVATIVE THOUGHT AND CREATIVE ECONOMY.

    Expenses $790,198 · Grants $145,000

As filed on the 2024 return.

Listed in Part VII

  • MARK OWENS

    PRESIDENT/CE

    Total calculated
    $358,260
    From this org
    $0
    From related orgs
    $332,810
    Other
    $25,450
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    not reported + $259,480 related
    Bonus
    not reported + $38,950 related
    Other
    not reported + $34,380 related
    Deferred
    not reported + $15,569 related
    Nontaxable benefits
    not reported + $9,881 related
    Filer's total
    not reported + $358,260 related

  • NICK REED

    CFO

    Total calculated
    $190,505
    From this org
    $0
    From related orgs
    $168,050
    Other
    $22,455
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    not reported + $150,000 related
    Bonus
    not reported + $12,000 related
    Other
    not reported + $6,050 related
    Deferred
    not reported + $15,000 related
    Nontaxable benefits
    not reported + $7,455 related
    Filer's total
    not reported + $190,505 related

  • MAMIE SUTPHIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID NEILL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVE LINEBERGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • COLEMAN TEAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELWOOD ROBINSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SAM METZLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CATHY PACE

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • APRILLE BELL

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DR JANET SPRIGGS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MIKE LANCASTER

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.0
Source object
202533219349309713

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