Totals
- Total revenue
- $83,719
- Total expenses
- $1,879,114
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $387,570
- Investment income
- -$585,370
- Other revenue
- $281,519
- Total assets, end of year
- $16,592,896
- Total liabilities, end of year
- $1,055,377
- Net assets or fund balances, end of year
- $15,537,519
- Program services expenses (Part IX)
- $1,831,452
- Management and general expenses
- $47,662
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,831,452
Program services were 97.5% 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.
-
2a · Program service revenue: RENTAL INCOME
total $387,570 · related or exempt $387,570
-
7a · Gross sales of assets other than inventory
other assets $489,598
-
7b · Less cost or other basis and sales expenses
other assets $1,074,968
-
7c · Gain or loss
other assets -$585,370
-
7d · Net gain or loss
total -$585,370 · related or exempt -$585,370
-
11a · Other revenue: REVENUE FROM OPTIONS
total $250,000 · related or exempt $250,000
-
11b · Other revenue: FORGIVENESS OF DEBT
total $31,519 · related or exempt $31,519
-
11e · Other revenue, total
$281,519
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $351,400 · program services $351,400
-
11b · Fees: legal
total $172,888 · program services $172,888
-
11c · Fees: accounting
total $33,707 · management and general $33,707
-
11g · Fees: other
total $586,518 · program services $586,518
-
13 · Office expenses
total $678 · program services $446 · management and general $232
-
14 · Information technology
total $4,171 · management and general $4,171
-
16 · Occupancy
total $524,392 · program services $524,392
-
19 · Conferences, conventions and meetings
total $1,166 · program services $1,166
-
22 · Depreciation, depletion and amortization
total $102,301 · program services $102,301
-
23 · Insurance
total $64,361 · program services $64,361
-
24a · Other expenses: REPAIRS AND MAINTENANCE
total $21,742 · program services $21,742
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $8,634 · management and general $8,634
-
24c · Other expenses: MISCALLANEOUS
total $6,238 · program services $6,238
-
24d · Other expenses: BANK FEES
total $703 · management and general $703
-
24e · All other expenses
total $215 · management and general $215
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $9,738,952 · end of year $1,406,542
-
4 · Accounts receivable
beginning of year $239,049
-
7 · Other notes and loans receivable
beginning of year $1,086,750
-
10a · Land, buildings and equipment: cost or other basis
$3,235,585
-
10b · Land, buildings and equipment: accumulated depreciation
$736,736
-
10c · Land, buildings and equipment, net
beginning of year $2,601,150 · end of year $2,498,849
-
15 · Other assets
beginning of year $5,067,945 · end of year $12,687,505
-
17 · Accounts payable and accrued expenses
beginning of year $409,734 · end of year $512,435
-
19 · Deferred revenue
beginning of year $147,475
-
24 · Unsecured notes and loans payable
beginning of year $524,180 · end of year $500,000
-
25 · Other liabilities
beginning of year $14,071 · end of year $42,942
-
27 · Net assets without donor restrictions
beginning of year $17,638,386 · end of year $15,537,519
Mission and programs · 2022
Mission
THE ORGANIZATION SEEKS TO FOSTER MEANINGFUL JOB GROWTH, LESSEN THE BURDENS OF THE GOVERNMENTS OF WINSTON-SALEM AND FORSYTH COUNTY BY PREVENTING ECONOMIC DETERIORATION OF AN AT-RISK AREA, AND SUPPORT THE MISSION OF LOCAL EDUCATIONAL INSTITUTIONS BY PROVIDING ACCESS TO EDUCATION AND RESEARCH FACILITIES.
-
ACQUIRE CERTAIN LAND, BUILDINGS AND IMPROVEMENTS IN THE WHITAKER PARK FORMER TOBACCO MANUFACTURING FACILITY AND CERTAIN SURROUNDING PROPERTIES AND TO REUSE AND REDEVELOP SUCH PROPERTY TO INCLUDE RESEARCH AND LABORATORY SPACE, FACILITIES FOR ADVANCED MANUFACTURING, DISTRIBUTION AND EDUCATION AND MULTI-FAMILY RESIDENTIAL AND OTHER COMPONENTS.
Expenses $1,831,452 · Revenue $83,719
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Donald E FlowDONALD E FLOW
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0
-
Denise D AdamsDENISE D ADAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joe BuddJOE BUDD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jimmy FlytheJIMMY FLYTHE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael BaughanMICHAEL BAUGHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
J Allen JoinesJ ALLEN JOINES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Stan KellySTAN KELLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Donald MartinDR DONALD MARTIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
B Hofler MilamB HOFLER MILAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott SewellSCOTT SEWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John CurrieJOHN CURRIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John Whitaker JrJOHN WHITAKER JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
G William Joyner IIIG WILLIAM JOYNER III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rick KingRICK KING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Stephen R Berlin EsqSTEPHEN R BERLIN ESQ
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Robert E Leak JrROBERT E LEAK JR
PRESIDENT
- Total calculated
- $336,400
- From this org
- $336,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $336,400
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $336,400
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
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333199349310183
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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