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Nonprofiteer
← WPDA INC

Form 990 for tax year 2023

Filed by WPDA INC.

Totals

Total revenue
$497,569
Total expenses
$1,566,859
Contributions and grants received
$0
Grants paid
$110,000
Program service revenue
$378,308
Investment income
$48,593
Other revenue
$70,668
Total assets, end of year
$15,304,853
Total liabilities, end of year
$605,623
Net assets or fund balances, end of year
$14,699,230
Program services expenses (Part IX)
$1,286,259
Management and general expenses
$280,600
Fundraising expenses
$0
Program service expenses (Part III)
$1,286,259

Program services were 82.1% 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 $378,308 · related or exempt $378,308

  • 3 · Investment income

    total $46,000 · unrelated business $590 · excluded $45,410

  • 7a · Gross sales of assets other than inventory

    securities $232,261 · other assets $1,333,750

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

    securities $0 · other assets $1,563,418

  • 7c · Gain or loss

    securities $232,261 · other assets -$229,668

  • 7d · Net gain or loss

    total $2,593 · related or exempt -$229,668 · excluded $232,261

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $70,668 · related or exempt $70,668

  • 11e · Other revenue, total

    $70,668

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $110,000 · program services $110,000

  • 5 · Compensation of officers, directors and key employees

    total $250,150 · management and general $250,150

  • 11b · Fees: legal

    total $237,930 · program services $237,930

  • 11c · Fees: accounting

    total $20,650 · program services $6,150 · management and general $14,500

  • 11g · Fees: other

    total $224,119 · program services $224,119

  • 13 · Office expenses

    total $681 · management and general $681

  • 14 · Information technology

    total $6,871 · management and general $6,871

  • 16 · Occupancy

    total $395,619 · program services $395,619

  • 19 · Conferences, conventions and meetings

    total $1,341 · management and general $1,341

  • 22 · Depreciation, depletion and amortization

    total $103,635 · program services $103,635

  • 23 · Insurance

    total $15,828 · program services $15,828

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $192,978 · program services $192,978

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $6,050 · management and general $6,050

  • 24c · Other expenses: MEALS

    total $513 · management and general $513

  • 24d · Other expenses: BANK FEES

    total $293 · management and general $293

  • 24e · All other expenses

    total $201 · management and general $201

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,406,542 · end of year $477,906

  • 4 · Accounts receivable

    beginning of year $0 · end of year $5,601

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $1,090,000

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

    $3,285,791

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

    $547,579

  • 10c · Land, buildings and equipment, net

    beginning of year $2,498,849 · end of year $2,738,212

  • 15 · Other assets

    beginning of year $12,687,505 · end of year $10,993,134

  • 17 · Accounts payable and accrued expenses

    beginning of year $512,435 · end of year $51,406

  • 24 · Unsecured notes and loans payable

    beginning of year $500,000 · end of year $500,000

  • 25 · Other liabilities

    beginning of year $42,942 · end of year $54,217

  • 27 · Net assets without donor restrictions

    beginning of year $15,537,519 · end of year $14,699,230

Mission and programs · 2023

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 $1,286,259 · Grants $110,000 · Revenue $219,308

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donald E Flow

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Denise D Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joe Budd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jimmy Flythe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Baughan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • J Allen Joines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stan Kelly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Donald Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Sewell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Currie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Whitaker Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • G William Joyner III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rick King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jacqueline A Travisano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephen R Berlin Esq

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Robert E Leak Jr

    PRESIDENT

    Total calculated
    $719,196
    From this org
    $719,196
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $719,196
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $719,196

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

  • DEERE & COMPANY

    $100,000

    SUPPORT FOR BUILDING A BATTERY MANUFACTURING PLANT IN KERNERSVILLE, NC.

  • GREATER WINSTON-SALEM INC

    $10,000

    TO PROMOTE AND ENCOURAGE BUSINESS DEVELOPMENT IN WINSTON-SALEM AND FORYSTH COUNTY

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403199349304895

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