Civic Intelligence

Wpda Inc.

990 • Fiscal year 2016 • EIN 45-3814914

Jan 01, 2016 to Dec 31, 2016 • Filed on May 03, 2017

Organization ProfileWWW.WSBUSINESSINC.COM
1080 W Fourth StreetWinstonsalem, NC 27101

(336) 723-8955

Siviq Scores

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

Liabilities / Assets

80th percentile

0.65x

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

48.44x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

5th percentile

-56%

Higher net margin than 5% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

83rd percentile

16%

Faster asset growth than 83% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$12,097,315

Up $1,669,214 (+16%) from 2015

Net Assets

Down

$4,247,801

Down $91,450 (-2.1%) from 2015

Liabilities

Up

$7,849,514

Up $1,760,664 (+29%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin5th percentile

Revenue

Down

$162,061

Down $4,198,006 (-96%) from 2015

Expenses

Up

$253,511

Up $232,695 (+1118%) from 2015

Net Income

Down

-$91,450

Down $4,430,701 (-102%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$60M$40M$20M$0Assets 2015: $10,428,101Liabilities 2015: $6,088,850Net Assets 2015: $4,339,2512015Assets 2016: $12,097,315Liabilities 2016: $7,849,514Net Assets 2016: $4,247,8012016Assets 2017: $53,391,700Liabilities 2017: $12,536,153Net Assets 2017: $40,855,5472017Assets 2018: $32,921,251Liabilities 2018: $10,913,508Net Assets 2018: $22,007,7432018Assets 2019: $30,425,566Liabilities 2019: $9,707,812Net Assets 2019: $20,717,7542019Assets 2021: $18,733,846Liabilities 2021: $1,095,460Net Assets 2021: $17,638,3862021Assets 2022: $16,592,896Liabilities 2022: $1,055,377Net Assets 2022: $15,537,5192022Assets 2023: $15,304,853Liabilities 2023: $605,623Net Assets 2023: $14,699,2302023Assets 2024: $12,948,496Liabilities 2024: $606,615Net Assets 2024: $12,341,8812024

Highlighted filing

2016

Assets$12,097,315
Liabilities$7,849,514
Net Assets$4,247,801
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

$40M$20M$0-$20MRevenue 2015: $4,360,067Expenses 2015: $20,816Net Income 2015: $4,339,2512015Revenue 2016: $162,061Expenses 2016: $253,511Net Income 2016: -$91,4502016Revenue 2017: $37,347,359Expenses 2017: $739,613Net Income 2017: $36,607,7462017Revenue 2018: -$18,189,822Expenses 2018: $657,982Net Income 2018: -$18,847,8042018Revenue 2019: -$188,919Expenses 2019: $821,070Net Income 2019: -$1,009,9892019Revenue 2021: -$4,636,789Expenses 2021: $1,574,273Net Income 2021: -$6,211,0622021Revenue 2022: $83,719Expenses 2022: $1,879,114Net Income 2022: -$1,795,3952022Revenue 2023: $497,569Expenses 2023: $1,566,859Net Income 2023: -$1,069,2902023Revenue 2024: -$1,976,745Expenses 2024: $834,298Net Income 2024: -$2,811,0432024

Highlighted filing

2016

Revenue$162,061
Expenses$253,511
Net Income-$91,450
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 3, 2017
Return Version
2016v3.0
Gross Receipts
$664,563
Mission and Program Overview

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.

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 educations and research facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,046,502$3,048,027▲ $1,525
Land, Buildings, and Equipment, Net-$2,686,792-
Loans From Officers Directors$1,502,500$1,752,500▲ $250,000
Cash and Non-Interest-Bearing Accounts$144,849$359,935▲ $215,086
Total Assets$10,428,101$12,097,315▲ $1,669,214
Other Assets Total$7,236,750$6,002,561▼ $1,234,189
Liabilities
Unsecured Notes Loans Payable$3,427,500$4,677,500▲ $1,250,000
Accounts Payable and Accrued Expenses$1,158,850$1,409,193▲ $250,343
Other Liabilities-$10,321-
Total Liabilities$6,088,850$7,849,514▲ $1,760,664
Net Assets / Fund Balance
Unrestricted Net Assets$4,339,251$4,247,801▼ $91,450
Total Net Assets Fund Balance$4,339,251$4,247,801▼ $91,450
Total Liabilities and Net Assets / Fund Balance$10,428,101$12,097,315▲ $1,669,214

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,485,181$32,275$2,517,456
Equipment$201,611$22,401$224,012
Other Assets Org$34,361--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Donald E FlowChairman
B Hofler MilamDirector
Denise D AdamsDirector
Dr Donald MartinDirector
J Allen JoinesDirector
Jimmy FlytheDirector
Joe BuddDirector
John Whitaker JrDirector
Michael BaughanDirector
Ron WellmanDirector
Stan KellyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$467,740
Program Service Revenue
$0
Investment Income
$3,817
Other Revenue
$-309,496
Change in Net Assets
$-91,450

Audited Revenue Reconciliation

Revenue per Audited Statements
$162,061
Total Revenue per Audited Statements
$162,061
Total Revenue per Form 990
$162,061
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$253,511
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$120,000-$120,000
Fees for Services Accounting-$9,535-$9,535
Advertising$1,438--$1,438
Office Expenses$350$42-$392
Other Expenses-$105-$105
Total Functional Expenses$1,788$251,723$0$253,511

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$253,511
Total Expenses per Audited Statements$253,511
Total Expenses per Form 990$253,511
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$1,502,500$1,752,500▲ $250,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit$10,321
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Wake forest university, winston-salem business, inc. And winston-salem alliance have the right to designate two persons from among their respective directors, executive officers, or senior management personnel to act as directors of the corporation”

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

“990 is reviewed by the board prior to filing”

Form 990, Page 6, Part VI, Line 19

“Governing documents,tax returns and financial statements are all available upon request”

Filing and Contact Details

Filer

Filer Name
Wpda Inc
EIN
45-3814914
Phone
3367238955
Address
1080 W FOURTH STREET, WINSTONSALEM, NC 27101

Signing Officer

Name
Donald E Flow
Title
Chairman
Phone
3367238955
Signed
2017-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald E Flow
Formed
2014
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
Richard J Tamer
Phone
3367250635
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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 educations and research facilities.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is an exempt organization under section 501(c)(3) of the united states internal revenue code. The organization is subject to income tax on unrelated business income. The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization's forms 990, return of organization exempt from income tax for 2016, 2015, and 2014 are subject to examination by the irs, generally for three years after they are filed.”

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE. THE ORGANIZATION IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX FOR 2016, 2015, AND 2014 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2DONALD E FLOW BRIDGE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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 EDUCATIONS AND RESEARCH FACILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WAKE FOREST UNIVERSITY, WINSTON-SALEM BUSINESS, INC. AND WINSTON-SALEM ALLIANCE HAVE THE RIGHT TO DESIGNATE TWO PERSONS FROM AMONG THEIR RESPECTIVE DIRECTORS, EXECUTIVE OFFICERS, OR SENIOR MANAGEMENT PERSONNEL TO ACT AS DIRECTORS OF THE CORPORATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 IS REVIEWED BY THE BOARD PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS,TAX RETURNS AND FINANCIAL STATEMENTS ARE ALL AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD E FLOW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03367238955
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WPDA INC
ReturnHeader/Filer/BusinessNameControlTxt0WPDA
ReturnHeader/Filer/EIN0453814914
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ReturnHeader/Filer/USAddress/AddressLine1Txt01080 W FOURTH STREET
ReturnHeader/Filer/USAddress/CityNm0WINSTONSALEM

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,097,315
Liabilities
$7,849,514
Net assets
$4,247,801
Revenue
$162,061
Expenses
$253,511
Net income
-$91,450
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.9$0.61$12.3$1.98$0.83$2.81
2023Detailed filing. Detailed filing data is available for this year.$15.3$0.61$14.7$0.50$1.57$1.07
2022Detailed filing. Detailed filing data is available for this year.$16.6$1.06$15.5$0.08$1.88$1.80
2021Detailed filing. Detailed filing data is available for this year.$18.7$1.10$17.6$4.64$1.57$6.21
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.
2019Detailed filing. Detailed filing data is available for this year.$30.4$9.71$20.7$0.19$0.82$1.01
2018Detailed filing. Detailed filing data is available for this year.$32.9$10.9$22.0$18.2$0.66$18.8
2017Detailed filing. Detailed filing data is available for this year.$53.4$12.5$40.9$37.3$0.74$36.6
2016Detailed filing. Detailed filing data is available for this year.$12.1$7.85$4.25$0.16$0.25$0.09
2015Detailed filing. Detailed filing data is available for this year.$10.4$6.09$4.34$4.36$0.02$4.34