Civic Intelligence

Twin City Development Foundation

EIN 20-8548088 • 501(c)6 • Winstonsalem, NC

Profile

To fund, through grants, public education and economic development in forsyth county and surrounding areas.

500 W 5th Street Ste 800-28Winstonsalem, NC 27101

www.twincityfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

11th percentile

0.04x

Higher debt load relative to revenue than 11% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Net Margin

83rd percentile

21%

Higher net margin than 83% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

65th percentile

9.6%

Faster asset growth than 65% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-13%

Faster revenue growth than 8% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$16,423,153

Up $1,433,105 (+9.6%) from 2023

Liabilities

Down

$36,000

Down $14,270 (-28%) from 2023

Net Assets

Up

$16,387,153

Up $1,447,375 (+9.7%) from 2023

Operations
Liabilities / Revenue11th percentileNet Margin83rd percentile

Revenue

Down

$958,484

Down $139,108 (-13%) from 2023

Expenses

Up

$753,810

Up $40,496 (+5.7%) from 2023

Net Income

Down

$204,674

Down $179,604 (-47%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth65th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2011: $8,537,272Liabilities 2011: $150,053Net Assets 2011: $8,387,2192011Assets 2012: $9,071,469Liabilities 2012: $212,683Net Assets 2012: $8,858,7862012Assets 2013: $10,093,219Liabilities 2013: $124,452Net Assets 2013: $9,968,7672013Assets 2014: $10,273,194Liabilities 2014: $25,838Net Assets 2014: $10,247,3562014Assets 2015: $9,633,707Liabilities 2015: $32,764Net Assets 2015: $9,600,9432015Assets 2016: $10,033,401Liabilities 2016: $46,938Net Assets 2016: $9,986,4632016Assets 2017: $10,652,811Liabilities 2017: $261,569Net Assets 2017: $10,391,2422017Assets 2018: $9,213,607Liabilities 2018: $361,584Net Assets 2018: $8,852,0232018Assets 2019: $11,988,555Liabilities 2019: $366,162Net Assets 2019: $11,622,3932019Assets 2020: $14,960,601Liabilities 2020: $171,042Net Assets 2020: $14,789,5592020Assets 2021: $16,743,150Liabilities 2021: $88,615Net Assets 2021: $16,654,5352021Assets 2022: $13,639,500Liabilities 2022: $27,061Net Assets 2022: $13,612,4392022Assets 2023: $14,990,048Liabilities 2023: $50,270Net Assets 2023: $14,939,7782023Assets 2024: $16,423,153Liabilities 2024: $36,000Net Assets 2024: $16,387,1532024

Highlighted filing

2024

Assets$16,423,153
Liabilities$36,000
Net Assets$16,387,153
Open 2024 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $316,046Expenses 2011: $456,991Net Income 2011: -$140,9452011Revenue 2012: $357,836Expenses 2012: $353,680Net Income 2012: $4,1562012Revenue 2013: $602,468Expenses 2013: $290,373Net Income 2013: $312,0952013Revenue 2014: $882,647Expenses 2014: $393,367Net Income 2014: $489,2802014Revenue 2015: $345,221Expenses 2015: $364,374Net Income 2015: -$19,1532015Revenue 2016: $327,863Expenses 2016: $540,586Net Income 2016: -$212,7232016Revenue 2017: $915,467Expenses 2017: $857,587Net Income 2017: $57,8802017Revenue 2018: $257,478Expenses 2018: $643,644Net Income 2018: -$386,1662018Revenue 2019: $1,376,813Expenses 2019: $615,410Net Income 2019: $761,4032019Revenue 2020: $2,506,722Expenses 2020: $242,582Net Income 2020: $2,264,1402020Revenue 2021: $628,620Expenses 2021: $659,219Net Income 2021: -$30,5992021Revenue 2022: -$115,486Expenses 2022: $444,505Net Income 2022: -$559,9912022Revenue 2023: $1,097,592Expenses 2023: $713,314Net Income 2023: $384,2782023Revenue 2024: $958,484Expenses 2024: $753,810Net Income 2024: $204,6742024

Highlighted filing

2024

Revenue$958,484
Expenses$753,810
Net Income$204,674
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,423,153
Liabilities
$36,000
Net assets
$16,387,153
Revenue
$958,484
Expenses
$753,810
Net income
$204,674
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.4$0.04$16.4$0.96$0.75$0.20
2023Detailed filing. Detailed filing data is available for this year.$15.0$0.05$14.9$1.10$0.71$0.38
2022Detailed filing. Detailed filing data is available for this year.$13.6$0.03$13.6$0.12$0.44$0.56
2021Detailed filing. Detailed filing data is available for this year.$16.7$0.09$16.7$0.63$0.66$0.03
2020Detailed filing. Detailed filing data is available for this year.$15.0$0.17$14.8$2.51$0.24$2.26
2019Summary only. Only limited summary data is available for this year.$12.0$0.37$11.6$1.38$0.62$0.76
2018Detailed filing. Detailed filing data is available for this year.$9.21$0.36$8.85$0.26$0.64$0.39
2017Summary only. Only limited summary data is available for this year.$10.7$0.26$10.4$0.92$0.86$0.06
2016Summary only. Only limited summary data is available for this year.$10.0$0.05$9.99$0.33$0.54$0.21
2015Summary only. Only limited summary data is available for this year.$9.63$0.03$9.60$0.35$0.36$0.02
2014Summary only. Only limited summary data is available for this year.$10.3$0.03$10.2$0.88$0.39$0.49
2013Summary only. Only limited summary data is available for this year.$10.1$0.12$9.97$0.60$0.29$0.31
2012Summary only. Only limited summary data is available for this year.$9.07$0.21$8.86$0.36$0.35$0.00
2011Summary only. Only limited summary data is available for this year.$8.54$0.15$8.39$0.32$0.46$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 20, 2025
Return Version
2024v5.0
Gross Receipts
$958,484
Mission and Program Overview

Mission

To fund, through grants, public education and economic development in forsyth county and surrounding areas.

To fund public education and economic development in forsyth county and surrounding areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,486,113$15,972,112▲ $1,485,999
Cash and Non-Interest-Bearing Accounts$498,146$450,890▼ $47,256
Prepaid Expenses and Deferred Charges$4,242--
Accounts Receivable$1,547$151▼ $1,396
Total Assets$14,990,048$16,423,153▲ $1,433,105
Liabilities
Grants Payable$50,000$36,000▼ $14,000
Accounts Payable and Accrued Expenses$270--
Total Liabilities$50,270$36,000▼ $14,270
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,939,778$16,387,153▲ $1,447,375
Total Net Assets Fund Balance$14,939,778$16,387,153▲ $1,447,375
Total Liabilities and Net Assets / Fund Balance$14,990,048$16,423,153▲ $1,433,105
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Robert EglestonExecutive DiPT$36,000$36,000

Board Members and Trustees

NameTitle
Mamie SutphinChair
Ralph WomblePast Chair
Robert ClarkVice Chair/t
Adam SebastianDirector
Betsy BrownDirector
Carol DavisDirector
Damon Sanders-prattDirector
Dixon PittDirector
Greg BrewerDirector
Jamarkus SwinsonDirector
Julia TownsendDirector
Melvin ScalesDirector
Penn BroyhillDirector
Sandra Fishel-boothDirector
Vivian Perez ChandlerDirector
Andy Dreyfuss2nd Past CHA
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$956,609
Other Revenue
$1,875
Change in Net Assets
$204,674

Audited Revenue Reconciliation

Revenue per Audited Statements
$915,901
Revenue Not Reported on Financial Statements
$42,583
Revenue Not Reported on Form 990
$1,242,701
Total Revenue per Audited Statements
$2,158,602
Total Revenue per Form 990
$958,484
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$620,300
Other Expenses$97,510
Salaries, Compensation, and Employee Benefits$36,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$620,300
Fees for Service Investment Mgmnt Fees---$42,583
Current Officers, Directors, Trustees, and Key Employees---$36,000
Fees for Services Accounting---$19,550
Insurance---$4,242
Conferences and Meetings---$3,818
Occupancy---$3,655
Information Technology---$2,275
Office Expenses---$1,603
Other Expenses---$184
Total Functional Expenses$0$0$0$753,810

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$753,810
Expenses per Audited Statements$711,227
Total Expenses per Audited Statements$711,227
Expenses Not Reported on Financial Statements$42,583
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wake Forest Univ Health SciencesWinstonsalem, NC501c3Economic Development$110,000
Winston-salem State UniversityWinstonsalem, NC170c1Education$72,000
Forsyth Technical Community CollegeWinstonsalem, NC501c3Education$70,000
Greater W-s Development CorpWinstonsalem, NC501c3Economic Development$70,000
Winston-salemforsyth County SchoolWinstonsalem, NCGovEducation$50,000
Triad Cultural Arts IncWinstonsalem, NC501c3Education$40,000
Piedmont Triad PartnershipGreensboro, NC501c3Economic Development$30,000
Aperture CinemaWinstonsalem, NC501c3Economic Development$25,000
Financial Pathways of the PiedmontWinstonsalem, NC501c3Education$25,000
Miracles in SightWinstonsalem, NC501c3Economic Development$25,000
Piedmont Environmental AllianceWinstonsalem, NC501c3Economic Development$25,000
Second Harvest Food Bank of NwncWinstonsalem, NC501c3Economic Development$23,300
Center for Creative EconomyWinstonsalem, NC501c3Economic Development$20,000
James Shaw Ace AcademyWinstonsalem, NC501c3Education$20,000
Downtown Winston-salem PartnershipWinstonsalem, NC501c3Economic Development$15,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Twin city development foundation uses robert egleston and lisa venable, both independent contractors, to perform the administrative/management functions of the foundation.”

Form 990, Page 6, Part VI, Line 11B

“The governing body (board of directors) does not review the 990. The 990 is reviewed by lisa venable, an independent contractor.”

Form 990, Page 6, Part VI, Line 19

“We do not accept nor solicit funds from the public; therefore, we do not make our documents available for public inspection.”

Filing and Contact Details

Filer

Filer Name
Twin City Development Foundation
EIN
20-8548088
Phone
3367773595
Address
500 W 5TH STREET STE 800-28, WINSTONSALEM, NC 27101

Signing Officer

Name
Robert Egleston
Title
Executive Director
Phone
3367773595
Signed
2025-08-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Egleston
Formed
2007
Legal Domicile
Nc
Voting Board Members
17
Independent Board Members
16
Employees
0
Volunteers
18

Preparer

Firm
Butler Burke Llp
Address
100 CLUB OAKS COURT SUITE A, WINSTONSALEM, NC 27104
Preparer
Jane R Potter
Phone
3367682310
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation is a not-for-profit organization and is exempt from income taxes under section 501(c)(6) of the internal revenue code. Accordingly, income tax expense is limited to activities that are deemed by the internal revenue service to be unrelated to their exempt purpose. The foundation's primary tax positions relate to its status as a not-for profit entity exempt from income taxes and classification of activities related to its exempt purpose. It is the opinion of management that the foundation has no uncertain tax positions that would be subject to change upon examination. The foundation is required to file a federal exempt organization tax return (form 990) annually to retain its exempt status. The foundation is also required to file an exempt organization business income tax return (form 990-t) for any year gross unrelated business income exceeds 1,000. The foundation's form 990 filings are generally subject to examination by the internal revenue service for three years after they are filed.”

Raw XML AppendixShowing 400 of 516 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, INCOME TAX EXPENSE IS LIMITED TO ACTIVITIES THAT ARE DEEMED BY THE INTERNAL REVENUE SERVICE TO BE UNRELATED TO THEIR EXEMPT PURPOSE. THE FOUNDATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. IT IS THE OPINION OF MANAGEMENT THAT THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FOUNDATION IS REQUIRED TO FILE A FEDERAL EXEMPT ORGANIZATION TAX RETURN (FORM 990) ANNUALLY TO RETAIN ITS EXEMPT STATUS. THE FOUNDATION IS ALSO REQUIRED TO FILE AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) FOR ANY YEAR GROSS UNRELATED BUSINESS INCOME EXCEEDS 1,000. THE FOUNDATION'S FORM 990 FILINGS ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8WINSTON-SALEM STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9MIRACLES IN SIGHT
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