Civic Intelligence

Wpda Inc.

990 • Fiscal year 2022 • EIN 45-3814914

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileWWW.WHITAKERPARKNC.COM
95 W 32nd StreetWinstonsalem, NC 27105

(336) 723-8955

Siviq Scores

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

Liabilities / Assets

24th percentile

0.06x

Higher debt load relative to assets than 24% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

12.61x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Net Margin

1st percentile

-2145%

Higher net margin than 1% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$336,400

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 401.8% of source-year revenue.

2022 filings • NTEE S • $10M-$25M nonprofits • Source year 2022

Asset Growth

14th percentile

-11%

Faster asset growth than 14% of similar nonprofits.

2022 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets24th percentile

Assets

Down

$16,592,896

Down $2,140,950 (-11%) from 2021

Net Assets

Down

$15,537,519

Down $2,100,867 (-12%) from 2021

Liabilities

Down

$1,055,377

Down $40,083 (-3.7%) from 2021

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin1st percentile

Revenue

Up

$83,719

Up $4,720,508 (+102%) from 2021

Expenses

Up

$1,879,114

Up $304,841 (+19%) from 2021

Net Income

Up

-$1,795,395

Up $4,415,667 (+71%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2022

Assets$16,592,896
Liabilities$1,055,377
Net Assets$15,537,519
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2022

Revenue$83,719
Expenses$1,879,114
Net Income-$1,795,395
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$1,158,687
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,601,150$2,498,849▼ $102,301
Cash and Non-Interest-Bearing Accounts$9,738,952$1,406,542▼ $8,332,410
Other Notes and Loans Receivable, Net$1,086,750--
Accounts Receivable$239,049--
Total Assets$18,733,846$16,592,896▼ $2,140,950
Other Assets Total$5,067,945$12,687,505▲ $7,619,560
Liabilities
Accounts Payable and Accrued Expenses$409,734$512,435▲ $102,701
Unsecured Notes Loans Payable$524,180$500,000▼ $24,180
Deferred Revenue$147,475--
Other Liabilities$14,071$42,942▲ $28,871
Total Liabilities$1,095,460$1,055,377▼ $40,083
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,638,386$15,537,519▼ $2,100,867
Total Net Assets Fund Balance$17,638,386$15,537,519▼ $2,100,867
Total Liabilities and Net Assets / Fund Balance$18,733,846$16,592,896▼ $2,140,950

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,411,705$467,670$2,879,375
Equipment$87,144$269,066$356,210
Other Assets Org$2,967,099--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert E Leak JrPresidentFT$336,400$336,400$336,400

Board Members and Trustees

NameTitle
Donald E FlowChairman
B Hofler MilamDirector
Denise D AdamsDirector
Dr Donald MartinDirector
G William Joyner IiiDirector
J Allen JoinesDirector
Jimmy FlytheDirector
Joe BuddDirector
John CurrieDirector
John Whitaker JrDirector
Michael BaughanDirector
Rick KingDirector
Scott SewellDirector
Stan KellyDirector
Stephen R Berlin EsqSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
R E Leak Consulting LLCConsulting600 RAVENSCAR CT, Winstonsalem, NC 27104$336,400
Kilpatrick Townsend & Stockton LLPLegal ServicesPO BOX 945614, Atlanta, GA 30394$178,544
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$387,570
Investment Income
$-585,370
Other Revenue
$281,519
Change in Net Assets
$-1,795,395

Audited Revenue Reconciliation

Revenue per Audited Statements
$83,719
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$42,880
Total Revenue per Audited Statements
$126,599
Total Revenue per Form 990
$83,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,527,714
Salaries, Compensation, and Employee Benefits$351,400
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$586,518--$586,518
Occupancy$524,392--$524,392
Current Officers, Directors, Trustees, and Key Employees$351,400--$351,400
Fees for Services Legal$172,888--$172,888
Depreciation Depletion$102,301--$102,301
Insurance$64,361--$64,361
Fees for Services Accounting-$33,707-$33,707
Information Technology-$4,171-$4,171
Conferences and Meetings$1,166--$1,166
Other Expenses$6,238$703-$703
Office Expenses$446$232-$678
All Other Expenses-$215-$215
Total Functional Expenses$1,831,452$47,662$0$1,879,114

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,879,114
Total Expenses per Audited Statements$1,879,114
Total Expenses per Form 990$1,879,114
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
Prepaid Rent$24,023
Security Deposit$18,919
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
No

Governance Explanations

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

“The form 990 is reviewed by the board prior to filing.”

Form 990, Part VI, Section C, 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
95 W 32ND STREET, WINSTONSALEM, NC 27105

Signing Officer

Name
Robert E Leak Jr
Title
President
Phone
3367238955
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert E Leak Jr
Formed
2014
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
15

Preparer

Firm
Bernard Robinson & Company Llp
Address
110 OAKWOOD DRIVE SUITE 400, WINSTONSALEM, NC 27103
Preparer
John M Robinson
Phone
3363030997
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Engineering fees: program service expenses 51,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 51,000. Professional fees: program service expenses 510,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 510,000. Recording fees: program service expenses 5,518. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,518. Consulting fees: program service expenses 20,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,000.”

FORM 990, PART X, BALANCE SHEET, PRIOR PERIOD ADJUSTMENTS:

“During the year ended december 31, 2022, management discovered that the construction in progress balances as of december 31, 2021 were not recorded in accordance with generally accepted accounting principles. Under the restatement, the organization has restated balances of capitalized costs and construction in progress of $348,352. The effect of the restatement is a decrease in capitalized costs and construction in progress of $348,352 and a decrease of beginning net assets of $348,352.”

Financial Statement Notes

PART X, LINE 2:

“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.”

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IRS990/ActivityOrMissionDesc0THE 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.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
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/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02014
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IRS990/FSAuditedInd01
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IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
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IRS990/NetUnrlzdGainsLossesInvstAmt042880
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt017638386
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt015537519
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0524392
IRS990/OccupancyGrp/TotalAmt0524392
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0232
IRS990/OfficeExpensesGrp/ProgramServicesAmt0446
IRS990/OfficeExpensesGrp/TotalAmt0678
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05067945
IRS990/OtherAssetsTotalGrp/EOYAmt012687505
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2MISCALLANEOUS
IRS990/OtherExpensesGrp/Desc3BANK FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08634
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1703
IRS990/OtherExpensesGrp/ProgramServicesAmt021742
IRS990/OtherExpensesGrp/ProgramServicesAmt16238
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IRS990/OtherExpensesGrp/TotalAmt26238
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IRS990/OtherRevenueMiscGrp/Desc1FORGIVENESS OF DEBT
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ROBERT E LEAK JR
IRS990/PriorPeriodAdjustmentsAmt0-348352
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
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IRS990/PYSalariesCompEmpBnftPaidAmt0286400
IRS990/PYTotalExpensesAmt01574273
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0-4636789
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1795395
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0153466
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0798466
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0269066
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01879114
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0500000
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2177526
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt32967099
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FCDC REAL ESTATE HELD FOR SALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REAL ESTATE HELD FOR SALE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018919
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt124023
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENT
IRS990ScheduleD/RevenueNotReportedAmt042880
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt083719
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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt012687505
IRS990ScheduleD/TotalExpensesPerForm990Amt01879114
IRS990ScheduleD/TotalLiabilityAmt042942
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,592,896
Liabilities
$1,055,377
Net assets
$15,537,519
Revenue
$83,719
Expenses
$1,879,114
Net income
-$1,795,395
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