Civic Intelligence

Wpda Inc.

990 • Fiscal year 2023 • EIN 45-3814914

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

95 W 32nd StreetWinstonsalem, NC 27105

(336) 723-8955

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$15,304,853

Down $1,288,043 (-7.8%) from 2022

Net Assets

Down

$14,699,230

Down $838,289 (-5.4%) from 2022

Liabilities

Down

$605,623

Down $449,754 (-43%) from 2022

Revenue And Expenses

Revenue

Up

$497,569

Up $413,850 (+494%) from 2022

Expenses

Down

$1,566,859

Down $312,255 (-17%) from 2022

Net Income

Up

-$1,069,290

Up $726,105 (+40%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$15,304,853
Liabilities$605,623
Net Assets$14,699,230

Operations Trend

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

2023

Revenue$497,569
Expenses$1,566,859
Net Income-$1,069,290
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$2,060,987
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$2,498,849$2,738,212▲ $239,363
Other Notes and Loans Receivable, Net$0$1,090,000▲ $1,090,000
Cash and Non-Interest-Bearing Accounts$1,406,542$477,906▼ $928,636
Accounts Receivable$0$5,601▲ $5,601
Total Assets$16,592,896$15,304,853▼ $1,288,043
Other Assets Total$12,687,505$10,993,134▼ $1,694,371
Liabilities
Unsecured Notes Loans Payable$500,000$500,000→ $0
Other Liabilities$42,942$54,217▲ $11,275
Accounts Payable and Accrued Expenses$512,435$51,406▼ $461,029
Total Liabilities$1,055,377$605,623▼ $449,754
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,537,519$14,699,230▼ $838,289
Total Net Assets Fund Balance$15,537,519$14,699,230▼ $838,289
Total Liabilities and Net Assets / Fund Balance$16,592,896$15,304,853▼ $1,288,043

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,738,212$547,579$3,285,791
Other Assets Org$1,467,099--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert E Leak JrPresidentFT$719,196$719,196$719,196

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
R E Leak Consulting LLCConsulting600 RAVENSCAR CT, Winstonsalem, NC 27104$719,196
Kilpatrick Townsend & Stockton LLPLegal ServicesPO BOX 945614, Atlanta, GA 30394$304,593
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$378,308
Investment Income
$48,593
Other Revenue
$70,668
Change in Net Assets
$-1,069,290

Audited Revenue Reconciliation

Revenue per Audited Statements
$497,569
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$231,001
Total Revenue per Audited Statements
$728,570
Total Revenue per Form 990
$497,569
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,206,709
Salaries, Compensation, and Employee Benefits$250,150
Grants and Similar Amounts Paid$110,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$395,619--$395,619
Current Officers, Directors, Trustees, and Key Employees-$250,150-$250,150
Fees for Services Legal$237,930--$237,930
Fees for Services Other$224,119--$224,119
Grants to Domestic Orgs$110,000--$110,000
Depreciation Depletion$103,635--$103,635
Fees for Services Accounting$6,150$14,500-$20,650
Insurance$15,828--$15,828
Information Technology-$6,871-$6,871
Conferences and Meetings-$1,341-$1,341
Office Expenses-$681-$681
Other Expenses$192,978$293-$293
All Other Expenses-$201-$201
Total Functional Expenses$1,286,259$280,600$0$1,566,859

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,566,859
Total Expenses per Audited Statements$1,566,859
Total Expenses per Form 990$1,566,859
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Deere & CompanyStrafford, MO501(c)(6)Support for Building a Battery Manufacturing Plant in Kernersville, Nc.$100,000
Greater Winston-salem IncWinstonsalem, NC-To Promote and Encourage Business Development in Winston-salem and Forysth County$10,000
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Rent$35,298
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
2024-11-14
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

Professional fees: program service expenses 119. Management and general expenses 0. Fundraising expenses 0. Total expenses 119. Consulting fees: program service expenses 224,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 224,000.

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/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0547579
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02498849
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02738212
IRS990/LandBldgEquipCostOrOtherBssAmt03285791
IRS990/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt01563418
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt015537519
IRS990/NetAssetsOrFundBalancesEOYAmt014699230
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0232261
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-229668
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt02593
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0231001
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt015537519
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt014699230
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0395619
IRS990/OccupancyGrp/TotalAmt0395619
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0681
IRS990/OfficeExpensesGrp/TotalAmt0681
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt012687505
IRS990/OtherAssetsTotalGrp/EOYAmt010993134
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2MEALS
IRS990/OtherExpensesGrp/Desc3BANK FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06050
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1513
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2293
IRS990/OtherExpensesGrp/ProgramServicesAmt0192978
IRS990/OtherExpensesGrp/TotalAmt0192978
IRS990/OtherExpensesGrp/TotalAmt16050
IRS990/OtherExpensesGrp/TotalAmt2513
IRS990/OtherExpensesGrp/TotalAmt3293
IRS990/OtherLiabilitiesGrp/BOYAmt042942
IRS990/OtherLiabilitiesGrp/EOYAmt054217
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt070668
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt070668
IRS990/OtherRevenueTotalAmt070668
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01090000
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ROBERT E LEAK JR
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0378308
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0378308
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-585370
IRS990/PYOtherExpensesAmt01527714
IRS990/PYOtherRevenueAmt0281519
IRS990/PYProgramServiceRevenueAmt0387570
IRS990/PYRevenuesLessExpensesAmt0-1795395
IRS990/PYSalariesCompEmpBnftPaidAmt0351400
IRS990/PYTotalExpensesAmt01879114
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt083719
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1069290
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0219308
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0645000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0645000
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt045410
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt086750
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt021
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0132181
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02576750
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.69680
IRS990ScheduleA/PublicSupportPY170Pct00.76790
IRS990ScheduleA/PublicSupportTotal170Amt0645000
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0645000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0645000
IRS990ScheduleA/TotalSupportAmt0925621
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt0590
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt0147850
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt0148440
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02738212
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0547579
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03285791
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01566859
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0231001
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0500000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt18848509
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2177526
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31467099
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ESCROW FUNDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INVESTMENTS AT FAIR VALUE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FCDC REAL ESTATE HELD FOR SALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REAL ESTATE HELD FOR SALE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018919
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt135298
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENT
IRS990ScheduleD/RevenueNotReportedAmt0231001
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0497569
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:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02738212
IRS990ScheduleD/TotalBookValueOtherAssetsAmt010993134
IRS990ScheduleD/TotalExpensesPerForm990Amt01566859
IRS990ScheduleD/TotalLiabilityAmt054217
IRS990ScheduleD/TotalRevenuePerForm990Amt0497569
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0728570
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01566859
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/CashGrantAmt110000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(6)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT FOR BUILDING A BATTERY MANUFACTURING PLANT IN KERNERSVILLE, NC.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO PROMOTE AND ENCOURAGE BUSINESS DEVELOPMENT IN WINSTON-SALEM AND FORYSTH COUNTY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DEERE & COMPANY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1GREATER WINSTON-SALEM INC
IRS990ScheduleI/RecipientTable/RecipientEIN0560459820
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0601 S MO-125

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