Civic Intelligence

Westedge Foundation Inc.

990 • Fiscal year 2020 • EIN 45-1998194

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 26, 2021

Organization ProfileN/A
PO Box 20549Charleston, SC 29413

(843) 209-4939

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

80th percentile

0.66x

Higher debt load relative to assets than 80% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

4639.99x

Higher debt load relative to revenue than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

1st percentile

-60505%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

62nd percentile

$212,721

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 7535.3% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

36th percentile

2.5%

Faster asset growth than 36% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

52nd percentile

3.1%

Faster revenue growth than 52% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$19,987,053

Up $480,112 (+2.5%) from 2019

Net Assets

Down

$6,888,367

Down $1,708,059 (-20%) from 2019

Liabilities

Up

$13,098,686

Up $2,188,171 (+20%) from 2019

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$2,823

Up $84 (+3.1%) from 2019

Expenses

Up

$1,710,882

Up $768,784 (+82%) from 2019

Net Income

Down

-$1,708,059

Down $768,700 (-82%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2017: $14,088,140Liabilities 2017: $9,162,784Net Assets 2017: $4,925,3562017Assets 2018: $17,643,856Liabilities 2018: $8,108,071Net Assets 2018: $9,535,7852018Assets 2019: $19,506,941Liabilities 2019: $10,910,515Net Assets 2019: $8,596,4262019Assets 2020: $19,987,053Liabilities 2020: $13,098,686Net Assets 2020: $6,888,3672020Assets 2021: $16,981,609Liabilities 2021: $12,456,846Net Assets 2021: $4,524,7632021Assets 2022: $15,433,566Liabilities 2022: $11,847,266Net Assets 2022: $3,586,3002022Assets 2023: $13,690,092Liabilities 2023: $10,751,800Net Assets 2023: $2,938,2922023Assets 2024: $12,819,959Liabilities 2024: $110,182Net Assets 2024: $12,709,7772024Assets 2025: $13,519,191Liabilities 2025: $4,484Net Assets 2025: $13,514,7072025

Highlighted filing

2020

Assets$19,987,053
Liabilities$13,098,686
Net Assets$6,888,367
Open 2020 Filing

Operations Trend

Revenue Growth52nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2017: $9,180,548Expenses 2017: $491,277Net Income 2017: $8,689,2712017Revenue 2018: $5,182,469Expenses 2018: $572,040Net Income 2018: $4,610,4292018Revenue 2019: $2,739Expenses 2019: $942,098Net Income 2019: -$939,3592019Revenue 2020: $2,823Expenses 2020: $1,710,882Net Income 2020: -$1,708,0592020Revenue 2021: $18,669,032Expenses 2021: $21,032,636Net Income 2021: -$2,363,6042021Revenue 2022: $804,235Expenses 2022: $1,742,698Net Income 2022: -$938,4632022Revenue 2023: $840,428Expenses 2023: $1,488,436Net Income 2023: -$648,0082023Revenue 2024: $10,714,253Expenses 2024: $942,768Net Income 2024: $9,771,4852024Revenue 2025: $1,513,522Expenses 2025: $708,592Net Income 2025: $804,9302025

Highlighted filing

2020

Revenue$2,823
Expenses$1,710,882
Net Income-$1,708,059
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 26, 2021
Return Version
2019v5.2
Gross Receipts
$2,823
Mission and Program Overview

Mission

Westedge is a bold economic and urban revitalization vision to advance knowledge-based sectors of the charleston, south carolina regional economy.

To support the city of charleston and the medical university of south carolina foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,111,105$7,561,199▼ $549,906
Savings and Temporary Cash Investments$874,597$479,712▼ $394,885
Cash and Non-Interest-Bearing Accounts$419,317$212,986▼ $206,331
Total Assets$19,506,941$19,987,053▲ $480,112
Other Assets Total$10,101,922$11,733,156▲ $1,631,234
Liabilities
Other Liabilities$10,498,581$12,098,581▲ $1,600,000
Accounts Payable and Accrued Expenses$411,934$1,000,105▲ $588,171
Total Liabilities$10,910,515$13,098,686▲ $2,188,171
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,596,426$6,888,367▼ $1,708,059
Total Net Assets Fund Balance$8,596,426$6,888,367▼ $1,708,059
Total Liabilities and Net Assets / Fund Balance$19,506,941$19,987,053▲ $480,112

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,561,199$687,382$8,248,581
Other Assets Org$11,733,156--
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mr Michael T Maher HpfCEOFT$167,799$44,922$212,721

Board Members and Trustees

NameTitle
Mr William a BakerChair
Ms Cheryl KaynardVice Chair
Dr Larry OlanoffDirector
Dr Tony ColesDirector
Mayor John TecklenburgDirector
Mr Ford GrahamDirector
Mr Kevin LuzakDirector
Mr Patrick W MckinneyDirector
Mr Wally Seinsheimer JrDirector
Mr William Dudley GregorieDirector
Ms Lisa MontgomeryDirector
Mr Stuart AmesExecutive Comittee
Mr Matt FrohlichSecretary
Ms Robyn FramptonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Charleston Horizon Devco LLCNon Developer Costs75 5TH STREET NW, Atlanta, GA 30308$257,429
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,823
Other Revenue
$0
Change in Net Assets
$-1,708,059

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,823
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,823
Total Revenue per Form 990
$2,823
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,468,160
Salaries, Compensation, and Employee Benefits$242,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$694,126--$694,126
Depreciation Depletion$549,906--$549,906
Current Officers, Directors, Trustees, and Key Employees$121,361$121,361-$242,722
Fees for Services Other$64,788$27,260-$92,048
Insurance-$13,781-$13,781
Advertising$11,039--$11,039
Occupancy-$8,673-$8,673
Travel$8,148--$8,148
Other Expenses$71,657$5,581-$5,581
Office Expenses-$4,537-$4,537
All Other Expenses-$365-$365
Total Functional Expenses$1,521,025$189,857$0$1,710,882

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,710,882
Total Expenses per Audited Statements$1,710,882
Total Expenses per Form 990$1,710,882
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable to Related Parties$11,298,581
Cash Advances From Related Parties$800,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Stuart ames and robyn frampton have a business relationship. Lisa montgomery and dr. Larry olanoff have a business relationship. Mayor tecklenburg, matt frohlich and councilman gregorie have a business relationship.”

Form 990, Part VI, Section B, Line 11B

“The westedge executive committee reviews the 990 prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The policy is provided to all directors, principal officers, and top management annually. They are asked to sign a statement affirming that they have received a copy of the policy, have read and understand the policy, and agree to comply with the policy. In the event that a potential conflict arises during the year, the interested party shall recuse himself/herself from all discussions and vote on the matter.”

Form 990, Part VI, Section B, Line 15

“The executive committee of the board of directors sets compensation for the ceo. The committee relies on performance evaluations, peer and industry comparisons, and any additional independent data to ensure compensation is reasonable. All discussions are documented. The board will conduct periodic reviews of its compensation policy and its implementation.”

Form 990, Part VI, Section C, Line 19

“The organization makes governing documents, conflict of interest policy and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Westedge Foundation Inc
EIN
45-1998194
Phone
8432094939
Address
PO BOX 20549, CHARLESTON, SC 29413

Signing Officer

Name
Michael T Maher
Title
CEO
Phone
8432094939
Signed
2021-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael T Maher
Formed
2011
Legal Domicile
Sc
Voting Board Members
12
Independent Board Members
12
Employees
1
Volunteers
14

Preparer

Firm
Elliott Davis Llcpllc
Address
100 CALHOUN STREET SUITE 300, CHARLESTON, SC 29401
Preparer
Janice a Ratica
Phone
8435777040
Supplemental Narrative

Additional Explanations

Part XII Line 2C

“The process has not changed.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from income tax under section 501(c)(3) of the internal revenue code as a charitable organization whereby only unrelated business income, if any, as defined by the code, is subject to federal income tax. The foundation is classified by the internal revenue service as other than a private foundation. Generally accepted accounting principles ("gaap") prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Gaap also provides guidance on derecognition of tax benefits, classification on the statements of financial position, interest and penalties, accounting in interim periods, and disclosure. Management has evaluated the foundation's tax positions and concluded that the foundation has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. The foundation's policy is to report accrued interest related to unrecognized tax benefits, when applicable, as interest expense and to report penalties as other expense. With few exceptions, the foundation is no longer subject to income tax examinations by the u.s. Federal, state, or local tax authorities for tax years before 2017.”

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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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IRS990/Desc0THE WESTEDGE FOUNDATION MOBILIZES AND DEPLOYS RESOURCES TO PROMOTE INNOVATION AND ADVANCE OUR VISION OF A DYNAMIC KNOWLEDGE COMMUNITY TO BENEFIT AND STRENGTHEN OUR KEY STAKEHOLDERS, AND IMPROVE THE QUALITY OF LIFE IN THE SURROUNDING NEIGHBORHOODS. WE MEASURE OUR COLLECTIVE PROGRESS IN ACCOMPLISHING THIS MISSION BY: -ADVANCING SCIENTIFIC AND TECHNICAL DISCOVERY.-EXPANDING EMPLOYMENT AND CAREER OPPORTUNITIES. -WIDENING PARTICIPATION IN ENTREPRENEURSHIP AND WEALTH-CREATION ACTIVITY. -CREATING PARTNERSHIPS WITH HIGHER EDUCATION, ADJACENT PUBLIC K-12 SCHOOLS AND INNOVATION-DRIVEN ENTERPRISES. -ADVOCATING INCLUSION AND IMPROVING OUR SURROUNDING COMMUNITY BY REMOVING BARRIERS TO SUCCESS AND INVESTING IN PUBLIC INFRASTRUCTURE TO ADDRESS LOCAL CHALLENGES.WE ACCOMPLISH OUR MISSION THROUGH STRATEGIC PARTNERSHIPS WITH OUR FOUNDERS, COLLABORATION WITH A DIVERSE ARRAY OF INNOVATION PARTNERS, AND BY DIRECT DELIVERY OF INNOVATION, PLACE MAKING, AND REAL ESTATE DEVELOPMENT SERVICES. SPECIFIC ACCOMPLISHMENTS OF WESTEDGE FOUNDATION'S EFFORTS INCLUDE: EXPANDING ACCESS & CLOSING THE GROCERY GAP:-PRIOR TO WESTEDGE, THE WEST SIDE OF THE PENINSULA WAS A FOOD DESERT. PUBLIX SUPER MARKET INCREASES ACCESS TO HEALTHY AND AFFORDABLE FOOD OPTIONS FOR ALL RESIDENTS OF THE WEST SIDE OF THE PENINSULA, ESPECIALLY LOWER INCOME, AND ELDERLY RESIDENTS.-IMPROVING SAFE ROUTES TO SCHOOLS AND OTHER SUPPORT FOR STUDENTS AT BURKE HIGH SCHOOL AND CHARLESTON DEVELOPMENT ACADEMY.-ACTIVELY SERVING THE BURKE HIGH SCHOOL IMPROVEMENT COUNCIL TO ESTABLISH INTERNSHIP AND OUTREACH PROGRAMS FOR BURKE STUDENTS TO EXPERIENCE LIFE SCIENCE EMPLOYMENT OPPORTUNITIES.FLOODING:-DESIGN AND CONSTRUCTION TO ELIMINATE TIDAL SUNNY DAY FLOODING AND REDUCING INSTANCES OF STORMWATER FLOODING WITH NEW DRAINAGE SOLUTIONS AND ENHANCED STORMWATER STORAGE CAPACITY ALREADY IN PLACE OR PLANNED.-WORKING TO CONNECT EXISTING GADSDEN GREEN AND ASHTON STREET DRAINAGE SYSTEMS TO THE SPRING FISHBURNE DEEP TUNNEL SYSTEM TO REDUCE NEIGHBORHOOD FLOODING.-RESTORING RELIABLE EMERGENCY RESPONSE AND EVACUATION ROUTES.WORKFORCE DEVELOPMENT:-WESTEDGE HOUSES STUDIO 22 AND THE CITY-SPONSORED FLAGSHIP SMALL BUSINESS INCUBATOR FOR START-UP COMPANIES, ESPECIALLY IN THE TECHNOLOGY AND LIFE SCIENCE SECTORS.-CREATING STATE-OF-THE-ART LAB SPACE HELPS GROW LIFE SCIENCE BUSINESSES.-INCREASES ECONOMIC DEVELOPMENT AND JOB CREATION IN ALL SECTORS: OVER 500 NEW JOBS HAVE ALREADY BEEN CREATED IN WESTEDGE.-WESTEDGE HAS ATTRACTED OVER A DOZEN SMALL BUSINESSES, GENERATING NEW JOBS AND PROMOTING LOCAL PROSPERITY.HOUSING:-DEVELOPING WESTEDGE TO ENSURE THERE IS ZERO DISPLACEMENT OF AREA'S EXISTING RESIDENTS.-INCREASING CHARLESTON'S AFFORDABLE HOUSING: WESTEDGE PROJECT PARTNERS HAVE ALREADY CONTRIBUTED $3.0 MILLION TO AFFORDABLE HOUSING; FULL BUILD-OUT COULD ADD OVER $7.0 MILLION AND/OR CREATE EVEN MORE WORKFORCE HOUSING UNITS.-INCREASING HOUSING OPPORTUNITIES CLOSE TO EMPLOYMENT CENTERS LIKE THE MEDICAL DISTRICT.ENVIRONMENT: ONGOING EFFORTS TO ADDRESS THE FLOODING WILL ALSO ELIMINATE CONTAMINATION ISSUES IN THE AREA AND BRING PERPETUAL BENEFITS TO THE IMMEDIATE NEIGHBORHOOD AND ALL OF THE WEST SIDE OF THE PENINSULA, INCLUDING:-STOPPING ONGOING HEALTH RISKS FROM SURFACE EXPOSURE TO CONTAMINATION FROM LANDFILL MATERIALS AND HAZARDOUS LEACHATE.-WORKING TO ELIMINATE TIDAL AND STORMWATER FLOODING TO STOP TRANSMITTING CONTAMINANTS INTO THE NEIGHBORHOOD, PROTECTING GADSDEN GREEN HOMES, CHARLESTON DEVELOPMENT ACADEMY AND HARMON FIELD.-SC DHEC VOLUNTARY CLEANUP PROGRAM ENSURES SAFETY FOR THE PUBLIC AND REDUCES ONGOING LIABILITY/EXPOSURE OF THE CITY AND MUSCF.SAFETY:-TRAFFIC IMPROVEMENTS ALREADY IN PLACE IMPROVE FLOW ON LOCKWOOD BLVD. AND PRESIDENT ST.-PROPOSED MEDICAL DISTRICT CONNECTOR WILL CREATE SAFE PEDESTRIAN, BICYCLE AND TRANSIT CONNECTIONS TO THE MEDICAL DISTRICT.-CREATING NEW WORKPLACES WITH DIRECT ACCESS TO TRANSIT & HOUSING SIGNIFICANTLY REDUCES TRAFFIC IMPACTS.LOCAL ECONOMY:-INCREASING PROPERTY TAX REVENUES, BUSINESS LICENSE REVENUES AND
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE COMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TREASURER
IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0WESTEDGE IS A BOLD ECONOMIC AND URBAN REVITALIZATION VISION TO ADVANCE KNOWLEDGE-BASED SECTORS OF THE CHARLESTON, SOUTH CAROLINA REGIONAL ECONOMY.
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IRS990/OtherExpensesGrp/Desc0GATEWAY NONDEVELOPER CO
IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2TELEPHONE & TELECOMMUNI
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MICHAEL T MAHER
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CASH ADVANCES FROM RELATED PARTIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTES PAYABLE TO RELATED PARTIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A CHARITABLE ORGANIZATION WHEREBY ONLY UNRELATED BUSINESS INCOME, IF ANY, AS DEFINED BY THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE FOUNDATION IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ("GAAP") PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. GAAP ALSO PROVIDES GUIDANCE ON DERECOGNITION OF TAX BENEFITS, CLASSIFICATION ON THE STATEMENTS OF FINANCIAL POSITION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, AND DISCLOSURE. MANAGEMENT HAS EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE FOUNDATION'S POLICY IS TO REPORT ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS, WHEN APPLICABLE, AS INTEREST EXPENSE AND TO REPORT PENALTIES AS OTHER EXPENSE. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR TAX YEARS BEFORE 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MR MICHAEL T MAHER HPF
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STUART AMES AND ROBYN FRAMPTON HAVE A BUSINESS RELATIONSHIP. LISA MONTGOMERY AND DR. LARRY OLANOFF HAVE A BUSINESS RELATIONSHIP. MAYOR TECKLENBURG, MATT FROHLICH AND COUNCILMAN GREGORIE HAVE A BUSINESS RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WESTEDGE EXECUTIVE COMMITTEE REVIEWS THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE POLICY IS PROVIDED TO ALL DIRECTORS, PRINCIPAL OFFICERS, AND TOP MANAGEMENT ANNUALLY. THEY ARE ASKED TO SIGN A STATEMENT AFFIRMING THAT THEY HAVE RECEIVED A COPY OF THE POLICY, HAVE READ AND UNDERSTAND THE POLICY, AND AGREE TO COMPLY WITH THE POLICY. IN THE EVENT THAT A POTENTIAL CONFLICT ARISES DURING THE YEAR, THE INTERESTED PARTY SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SETS COMPENSATION FOR THE CEO. THE COMMITTEE RELIES ON PERFORMANCE EVALUATIONS, PEER AND INDUSTRY COMPARISONS, AND ANY ADDITIONAL INDEPENDENT DATA TO ENSURE COMPENSATION IS REASONABLE. ALL DISCUSSIONS ARE DOCUMENTED. THE BOARD WILL CONDUCT PERIODIC REVIEWS OF ITS COMPENSATION POLICY AND ITS IMPLEMENTATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,987,053
Liabilities
$13,098,686
Net assets
$6,888,367
Revenue
$2,823
Expenses
$1,710,882
Net income
-$1,708,059
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$13.5$0.00$13.5$1.51$0.71$0.80
2024Detailed filing. Detailed filing data is available for this year.$12.8$0.11$12.7$10.7$0.94$9.77
2023Detailed filing. Detailed filing data is available for this year.$13.7$10.8$2.94$0.84$1.49$0.65
2022Detailed filing. Detailed filing data is available for this year.$15.4$11.8$3.59$0.80$1.74$0.94
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.0$12.5$4.52$18.7$21.0$2.36
2020Detailed filing. Detailed filing data is available for this year.$20.0$13.1$6.89$0.00$1.71$1.71
2019Detailed filing. Detailed filing data is available for this year.$19.5$10.9$8.60$0.00$0.94$0.94
2018Detailed filing. Detailed filing data is available for this year.$17.6$8.11$9.54$5.18$0.57$4.61
2017Detailed filing. Detailed filing data is available for this year.$14.1$9.16$4.93$9.18$0.49$8.69