Form 990 for tax year 2024
Filed by GREATER WINSTON SALEM CHAMBER OF COMMERCE FOUNDATION INC.
Totals
- Total revenue
- $100,783
- Total expenses
- $346,316
- Contributions and grants received
- $100,726
- Grants paid
- $293,863
- Program service revenue
- $0
- Investment income
- $57
- Other revenue
- $0
- Total assets, end of year
- $568,594
- Total liabilities, end of year
- $510,054
- Net assets or fund balances, end of year
- $58,540
- Program services expenses (Part IX)
- $346,316
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $346,316
Program services were 100.0% 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.
-
1f · All other contributions, gifts and grants
$100,726
-
3 · Investment income
total $57 · excluded $57
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $278,863 · program services $278,863
-
2 · Grants to domestic individuals
total $15,000 · program services $15,000
-
7 · Other salaries and wages
total $8,750 · program services $8,750
-
24a · Other expenses: MISCELLANEOUS
total $40,053 · program services $40,053
-
24b · Other expenses: EVENTS
total $3,650 · program services $3,650
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $414,982 · end of year $421,380
-
3 · Pledges and grants receivable
beginning of year $305,240 · end of year $112,500
-
15 · Other assets
beginning of year $34,714 · end of year $34,714
-
17 · Accounts payable and accrued expenses
beginning of year $219,600 · end of year $265,000
-
25 · Other liabilities
beginning of year $231,263 · end of year $245,054
-
27 · Net assets without donor restrictions
beginning of year $46,578 · end of year $48,583
-
28 · Net assets with donor restrictions
beginning of year $257,495 · end of year $9,957
Mission and programs · 2024
Mission
TO CARRY OUT THOSE ACTIVITIES IN THE INTEREST OF THE PEOPLE OF WINSTON- SALEM AND FORSYTH COUNTY AND WHICH ARE OF A PHILANTHROPIC AND ELEEMOSYNARY NATURE FOCUSING ON ENTREPRENEURIAL GRANT INITIATIVE TO SUPPORT THE GROWTH OF WINSTON-SALEM'S BUSINESSES AND INNOVATION ECONOMY.
Activities or mission (Part I)
REPRESENT THE GREATER WINSTON-SALEM'S PHILANTHROPIC AND ELEEMOSYNARY INTERESTS.
-
EDUCATION PROGRAMS FUNDS CONTRIBUTED TO ADDRESS EDUCATION ISSUES INCLUDING IMPROVING HIGH SCHOOL GRADUATION RATES THROUGH MENTORSHIP PROGRAMS, PARTNERING LOCAL BUSINESSES AND LOCAL SCHOOLS AND RECRUITING CORPORATE VOLUNTEERS TO WORK WITH LOCAL ELEMENTARY SCHOOL AGE CHILDREN. SMALL BUSINESS PROGRAMS FUNDS CONTRIBUTED TO SUPPORT (1) AN OPERATING GRANT PROGRAM IN SUPPORT OF BUSINESSES LOCATED WITHIN FORSYTH COUNTY THAT ARE ADVERSELY IMPACTED BY FEDERALLY OR STATE-DECLARED DISASTERS IN ORDER TO COMBAT COMMUNITY DETERIORATION AND TO LESSEN THE BURDENS OF GOVERNMENT AND (2) ENTREPRENEURIAL GRANT INITIATIVES TO SUPPORT THE GROWTH OF WINSTON- SALEM'S INNOVATION ECONOMY.
Expenses $346,316 · Grants $293,863
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mark OwensMARK OWENS
PRESIDENT/CE
- Total calculated
- $358,260
- From this org
- $0
- From related orgs
- $332,810
- Other
- $25,450
- Hours/week
- 1 + 40 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 ReedNICK REED
CFO
- Total calculated
- $190,505
- From this org
- $0
- From related orgs
- $168,050
- Other
- $22,455
- Hours/week
- 2 + 38 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
-
Ajay PatelAJAY PATEL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Brent WaddellBRENT WADDELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rob SimonROB SIMON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Katie PowerKATIE POWER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Steve BagleySTEVE BAGLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Cathy PaceCATHY PACE
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Aprille BellAPRILLE BELL
TREASURER
- 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
-
DYNAMIC COLLISION LLC
$20,000
BUSINESS MINORITY PR
-
CISCO SITE SERVICES LLC
$18,000
BUSINESS MINORITY PR
-
HOPE COUNSELING & CONSULTING SERVIC
$18,000
BUSINESS MINORITY PR
-
PURPOSEFUL PEDIATRICS PLLC
$18,000
BUSINESS MINORITY PR
-
SMITH'S PRIMARY CARE AND WELLNESS
$18,000
BUSINESS MINORITY PR
-
SOUTHSIDE DISCOUNT PHARMACY
$18,000
BUSINESS MINORITY PR
-
AWAKE CUSTOM REMODELING
$15,000
BUSINESS MINORITY PR
-
CAM'S COFFEE CO
$15,000
BUSINESS MINORITY PR
-
LELO'S CUBAN CAFE
$15,000
BUSINESS MINORITY PR
-
$12,225
ASPIRE PROGRAM
The 10 largest by cash amount. The API serves every itemized grant.
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.
-
501C6 · SEE PT VII · NC
Directly controlled by NA
-
GREATER WINSTON-SALEM DEVELOPMENT CORP
501C3 · SEE PT VII · NC · controlled entity
Directly controlled by SEE PT VII
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202503219349309340
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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