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Nonprofiteer
← TWIN CITY DEVELOPMENT FOUNDATION

Form 990 for tax year 2022

Filed by TWIN CITY DEVELOPMENT FOUNDATION.

Totals

Total revenue
-$115,486
Total expenses
$444,505
Contributions and grants received
$0
Grants paid
$329,000
Program service revenue
$0
Investment income
-$87,186
Other revenue
-$28,300
Total assets, end of year
$13,639,500
Total liabilities, end of year
$27,061
Net assets or fund balances, end of year
$13,612,439
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 3 · Investment income

    total $356,892 · excluded $356,892

  • 6a · Gross rents

    real property $59,196

  • 6b · Less rental expenses

    real property $89,046

  • 6c · Rental income or loss

    real property -$29,850

  • 6d · Net rental income or loss

    total -$29,850 · excluded -$29,850

  • 7a · Gross sales of assets other than inventory

    securities $212,227 · other assets $925,000

  • 7b · Less cost or other basis and sales expenses

    other assets $1,581,305

  • 7c · Gain or loss

    securities $212,227 · other assets -$656,305

  • 7d · Net gain or loss

    total -$444,078 · excluded -$444,078

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $1,550 · excluded $1,550

  • 11e · Other revenue, total

    $1,550

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $329,000

  • 5 · Compensation of officers, directors and key employees

    total $24,000

  • 11b · Fees: legal

    total $1,635

  • 11c · Fees: accounting

    total $15,960

  • 11f · Fees: investment management

    total $32,258

  • 13 · Office expenses

    total $2,109

  • 19 · Conferences, conventions and meetings

    total $2,825

  • 23 · Insurance

    total $5,753

  • 24a · Other expenses: MISCELLANEOUS

    total $29,124

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,841

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $849,318 · end of year $570,449

  • 4 · Accounts receivable

    beginning of year $1,222 · end of year $219

  • 7 · Other notes and loans receivable

    beginning of year $187,591

  • 10c · Land, buildings and equipment, net

    beginning of year $1,537,051

  • 11 · Investments: publicly traded securities

    beginning of year $14,167,968 · end of year $13,068,832

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,615 · end of year $2,061

  • 18 · Grants payable

    beginning of year $85,000 · end of year $25,000

  • 27 · Net assets without donor restrictions

    beginning of year $16,654,535 · end of year $13,612,439

Mission and programs · 2022

Mission

TO FUND, THROUGH GRANTS, PUBLIC EDUCATION AND ECONOMIC DEVELOPMENT IN FORSYTH COUNTY AND SURROUNDING AREAS.

Activities or mission (Part I)

TO FUND PUBLIC EDUCATION AND ECONOMIC DEVELOPMENT IN FORSYTH COUNTY AND SURROUNDING AREAS.

  • FUNDING, THROUGH GRANTS, EDUCATIONAL AND ECONOMIC DEVELOPMENT IN FORSYTH COUNTY AND SURROUNDING AREAS.

As filed on the 2022 return.

Listed in Part VII

  • Robert Egleston

    EXECUTIVE DI

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Mamie Sutphin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Karl Yena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Will Baucom End 1222

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Deborah Best

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Greg Brewer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Vivian Perez Chandler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Carol Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Damon Sanders-Pratt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Melvin Scales

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Andy Dreyfuss

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2

  • Ralph Womble

    VICE CHAIR/T

    Total calculated
    $0
    Hours/week
    0.2

  • Robert Clark

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.2

  • Stephen Poe

    2ND PAST CHA

    Total calculated
    $0
    Hours/week
    0.2

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.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202321359349301752

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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