Form 990 for tax year 2024
Filed by TWIN CITY DEVELOPMENT FOUNDATION.
Totals
- Total revenue
- $958,484
- Total expenses
- $753,810
- Contributions and grants received
- $0
- Grants paid
- $620,300
- Program service revenue
- $0
- Investment income
- $956,609
- Other revenue
- $1,875
- Total assets, end of year
- $16,423,153
- Total liabilities, end of year
- $36,000
- Net assets or fund balances, end of year
- $16,387,153
- 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 $498,569 · excluded $498,569
-
7a · Gross sales of assets other than inventory
securities $458,040
-
7c · Gain or loss
securities $458,040
-
7d · Net gain or loss
total $458,040 · excluded $458,040
-
11a · Other revenue: MISCELLANEOUS INCOME
total $1,875 · excluded $1,875
-
11e · Other revenue, total
$1,875
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $620,300
-
5 · Compensation of officers, directors and key employees
total $36,000
-
11c · Fees: accounting
total $19,550
-
11f · Fees: investment management
total $42,583
-
13 · Office expenses
total $1,603
-
14 · Information technology
total $2,275
-
16 · Occupancy
total $3,655
-
19 · Conferences, conventions and meetings
total $3,818
-
23 · Insurance
total $4,242
-
24a · Other expenses: MISCELLANEOUS
total $19,600
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $184
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $498,146 · end of year $450,890
-
4 · Accounts receivable
beginning of year $1,547 · end of year $151
-
9 · Prepaid expenses and deferred charges
beginning of year $4,242
-
11 · Investments: publicly traded securities
beginning of year $14,486,113 · end of year $15,972,112
-
17 · Accounts payable and accrued expenses
beginning of year $270
-
18 · Grants payable
beginning of year $50,000 · end of year $36,000
-
27 · Net assets without donor restrictions
beginning of year $14,939,778 · end of year $16,387,153
Mission and programs · 2024
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 2024 return.
Listed in Part VII
-
Robert EglestonROBERT EGLESTON
EXECUTIVE DI
- Total calculated
- $36,000
- From this org
- $36,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 12
-
Greg BrewerGREG BREWER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Vivian Perez ChandlerVIVIAN PEREZ CHANDLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Carol DavisCAROL DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Damon Sanders-PrattDAMON SANDERS-PRATT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Betsy BrownBETSY BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Sandra Fishel-BoothSANDRA FISHEL-BOOTH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Penn BroyhillPENN BROYHILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Melvin ScalesMELVIN SCALES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Dixon PittDIXON PITT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Adam SebastianADAM SEBASTIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Jamarkus SwinsonJAMARKUS SWINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Julia TownsendJULIA TOWNSEND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Mamie SutphinMAMIE SUTPHIN
CHAIR
- Total calculated
- $0
- Hours/week
- 0.2
-
Robert ClarkROBERT CLARK
VICE CHAIR/T
- Total calculated
- $0
- Hours/week
- 0.2
-
Ralph WombleRALPH WOMBLE
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.2
-
Andy DreyfussANDY DREYFUSS
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
-
WAKE FOREST UNIV HEALTH SCIENCES
$110,000
ECONOMIC DEVELOPMENT
-
WINSTON-SALEM STATE UNIVERSITY
$72,000
EDUCATION
-
$70,000
ECONOMIC DEVELOPMENT
-
EDUCATION
-
WINSTON-SALEMFORSYTH COUNTY SCHOOL
$50,000
EDUCATION
-
$40,000
EDUCATION
-
$30,000
ECONOMIC DEVELOPMENT
-
$25,000
ECONOMIC DEVELOPMENT
-
EDUCATION
-
$25,000
ECONOMIC DEVELOPMENT
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 20 August 2025
- IRS schema version
- 2024v5.0
- Source object
- 202522329349300437
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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