Civic Intelligence

Flywheel Foundation

990 • Fiscal year 2021 • EIN 47-3707235

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 13, 2022

Organization ProfileWWW.FLYWHEELCOWORKING.COM/FLYWHEEL-FOU
500 West 5th Street Suite 800Winstonsalem, NC 27101

(336) 725-7808

Siviq Scores

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

Liabilities / Assets

66th percentile

0.12x

Higher debt load relative to assets than 66% of similar nonprofits.

2021 filings • NTEE P80 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

66th percentile

0.05x

Higher debt load relative to revenue than 66% of similar nonprofits.

2021 filings • NTEE P80 • <$500k nonprofits • Source year 2021

Net Margin

25th percentile

-9.7%

Higher net margin than 25% of similar nonprofits.

2021 filings • NTEE P80 • <$500k nonprofits • Source year 2021

Top Officer Pay

95th percentile

$69,458

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 26.4% of source-year revenue.

2021 filings • NTEE P80 • <$500k nonprofits • Source year 2021

Asset Growth

20th percentile

-15%

Faster asset growth than 20% of similar nonprofits.

2021 filings • NTEE P80 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

75th percentile

58%

Faster revenue growth than 75% of similar nonprofits.

2021 filings • NTEE P80 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$102,230

Down $17,564 (-15%) from 2020

Net Assets

Down

$90,269

Down $25,475 (-22%) from 2020

Liabilities

Up

$11,961

Up $7,911 (+195%) from 2020

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin25th percentile

Revenue

Up

$263,282

Up $96,535 (+58%) from 2020

Expenses

Up

$288,757

Up $212,180 (+277%) from 2020

Net Income

Down

-$25,475

Down $115,645 (-128%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$400K$300K$200K$100K$0Assets 2020: $119,794Liabilities 2020: $4,050Net Assets 2020: $115,7442020Assets 2021: $102,230Liabilities 2021: $11,961Net Assets 2021: $90,2692021Assets 2022: $230,834Liabilities 2022: $92,772Net Assets 2022: $138,0622022Assets 2023: $313,466Liabilities 2023: $99,625Net Assets 2023: $213,8412023Assets 2024: $227,032Liabilities 2024: $67,637Net Assets 2024: $159,3952024

Highlighted filing

2021

Assets$102,230
Liabilities$11,961
Net Assets$90,269
Open 2021 Filing

Operations Trend

Revenue Growth75th percentile

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

$600K$400K$200K$0-$200KRevenue 2020: $166,747Expenses 2020: $76,577Net Income 2020: $90,1702020Revenue 2021: $263,282Expenses 2021: $288,757Net Income 2021: -$25,4752021Revenue 2022: $322,010Expenses 2022: $274,217Net Income 2022: $47,7932022Revenue 2023: $499,451Expenses 2023: $423,672Net Income 2023: $75,7792023Revenue 2024: $358,465Expenses 2024: $412,911Net Income 2024: -$54,4462024

Highlighted filing

2021

Revenue$263,282
Expenses$288,757
Net Income-$25,475
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 13, 2022
Return Version
2021v4.0
Gross Receipts
$263,282
Mission and Program Overview

Mission

To support entrepreneurship through research, ecosystem development, education and investment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$119,794$92,230▼ $27,564
Rtn Earn Endowment Incm Other Fnds$115,744$90,269▼ $25,475
Pledges and Grants Receivable-$10,000-
Total Assets$119,794$102,230▼ $17,564
Liabilities
Accounts Payable and Accrued Expenses$4,050$11,961▲ $7,911
Total Liabilities$4,050$11,961▲ $7,911
Net Assets / Fund Balance
Total Net Assets Fund Balance$115,744$90,269▼ $25,475
Total Liabilities and Net Assets / Fund Balance$119,794$102,230▼ $17,564
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Adrian SmithExecutive DiFT$69,458$69,458

Board Members and Trustees

NameTitle
Fletcher SteeleBoard Chair
Bobbie ShrivastavBoard Member
Brad BennettBoard Member
Iris Fagundo ColeBoard Member
Larry BarronBoard Member
Laura LeeBoard Member
Page CastrodaleBoard Member
Peter MarshBoard Member
Stephen EdwardsBoard Member
Trinity ManningBoard Member
Will JoynerSecretary
Rick LeanderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$237,992
Program Service Revenue
$25,290
Investment Income
$0
Other Revenue
$0
All Other Contributions
$237,992
Change in Net Assets
$-25,475
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$146,000
Salaries, Compensation, and Employee Benefits$87,905
Other Expenses$54,852
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$146,000--$146,000
Current Officers, Directors, Trustees, and Key Employees-$65,408-$65,408
Fees for Services Other-$43,609-$43,609
Other Salaries and Wages$21,887--$21,887
Office Expenses-$6,068-$6,068
Advertising$3,260--$3,260
Fees for Services Accounting-$975-$975
Insurance-$798-$798
Payroll Taxes$610--$610
Other Expenses-$142-$142
Total Functional Expenses$171,757$117,000$0$288,757
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Flywheel LLCWinstonsalem, NC-Operations$100,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 11B

“A copy of the 990 will be provided to the board prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The board annually reviews the conflict of interest at the first board meeting of every year.”

Form 990, Page 6, Part VI, Line 15A

“Regional data for similar positions and experience levels are reviewed to determine appropriate levels of compensation.”

Form 990, Page 6, Part VI, Line 15B

“See explanation for line 15a.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Flywheel Foundation
EIN
47-3707235
Phone
3367257808
Address
500 WEST 5TH STREET SUITE 800, WINSTONSALEM, NC 27101

Signing Officer

Name
Will Joyner
Title
Secretary
Phone
3367257808
Signed
2022-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Leander
Voting Board Members
12
Independent Board Members
11
Employees
0
Volunteers
12

Preparer

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

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees 0 43,609 0”

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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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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FLYWHEEL LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0464744359
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0500 WEST 5TH STREET SUITE 800
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WINSTONSALEM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd027101
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTEES WILL PROVIDE A WRITTEN AND IN-PERSON FINAL REPORT THAT PROVIDES INFORMATION ON THE ACHIEVEMENT OF MILESTONES, USE OF FUNDS, AND FUTURE PLANS FOR THE COMPANY. ANY MATERIAL CHANGES IN THE PREVIOUSLY MENTIONED REPORT CONTENTS WILL REQUIRE WRITTEN APPROVAL FROM THE FLYWHEEL FOUNDATION. GRANTEES AGREE TO PROVIDE INFORMATION FOR A PERIOD OF FIVE YEARS AFTER THE GRANT PERIOD.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/AssistancePurposeTxt0OPERATIONS
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/CashGrantAmt0100000
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/PersonNm0PETER MARSH- FLYWHEEL LLC
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/RelationshipWithOrgTxt070% CONTROLLED ENTIT
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/TypeOfAssistanceTxt0GRANT
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 WILL BE PROVIDED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD ANNUALLY REVIEWS THE CONFLICT OF INTEREST AT THE FIRST BOARD MEETING OF EVERY YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REGIONAL DATA FOR SIMILAR POSITIONS AND EXPERIENCE LEVELS ARE REVIEWED TO DETERMINE APPROPRIATE LEVELS OF COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SEE EXPLANATION FOR LINE 15A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER PROFESSIONAL FEES 0 43,609 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0119794
IRS990/TotalAssetsEOYAmt0102230
IRS990/TotalAssetsGrp/BOYAmt0119794
IRS990/TotalAssetsGrp/EOYAmt0102230
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0237992
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0117000
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0171757
IRS990/TotalFunctionalExpensesGrp/TotalAmt0288757
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04050
IRS990/TotalLiabilitiesEOYAmt011961
IRS990/TotalLiabilitiesGrp/BOYAmt04050
IRS990/TotalLiabilitiesGrp/EOYAmt011961
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0115744
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt090269
IRS990/TotalProgramServiceExpensesAmt0171757
IRS990/TotalProgramServiceRevenueAmt025290
IRS990/TotalReportableCompFromOrgAmt069458
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025290
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0263282
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0119794
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0102230
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 WEST 5TH STREET SUITE 800
IRS990/USAddress/CityNm0WINSTONSALEM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027101
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.FLYWHEELCOWORKING.COM/FLYWHEEL-FOU
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILL JOYNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03367257808
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-07-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLYWHEEL FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0FLYW
ReturnHeader/Filer/EIN0473707235
ReturnHeader/Filer/PhoneNum03367257808
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 WEST 5TH STREET SUITE 800
ReturnHeader/Filer/USAddress/CityNm0WINSTONSALEM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027101
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561138530
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUTLER BURKE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 CLUB OAKS COURT SUITE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINSTONSALEM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027104
ReturnHeader/PreparerPersonGrp/PhoneNum03367682310
ReturnHeader/PreparerPersonGrp/PreparationDt02022-07-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANE R POTTER
ReturnHeader/ReturnTs02022-07-21T13:45:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JOYNER
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$102,230
Liabilities
$11,961
Net assets
$90,269
Revenue
$263,282
Expenses
$288,757
Net income
-$25,475
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.27$0.68$1.59$3.58$4.13$0.54
2023Detailed filing. Detailed filing data is available for this year.$3.13$1.00$2.14$4.99$4.24$0.76
2022Detailed filing. Detailed filing data is available for this year.$2.31$0.93$1.38$3.22$2.74$0.48
2021Detailed filing. Detailed filing data is available for this year.$1.02$0.12$0.90$2.63$2.89$0.25
2020Detailed filing. Detailed filing data is available for this year.$1.20$0.04$1.16$1.67$0.77$0.90