Civic Intelligence

Flywheel Foundation

990 • Fiscal year 2022 • EIN 47-3707235

Jan 01, 2022 to Dec 31, 2022 • Filed on May 25, 2023

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

81st percentile

0.40x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • NTEE P80 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.29x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • NTEE P80 • <$500k nonprofits • Source year 2022

Net Margin

69th percentile

15%

Higher net margin than 69% of similar nonprofits.

2022 filings • NTEE P80 • <$500k nonprofits • Source year 2022

Top Officer Pay

93rd percentile

$52,500

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 16.3% of source-year revenue.

2022 filings • NTEE P80 • <$500k nonprofits • Source year 2022

Asset Growth

91st percentile

126%

Faster asset growth than 91% of similar nonprofits.

2022 filings • NTEE P80 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

63rd percentile

22%

Faster revenue growth than 63% of similar nonprofits.

2022 filings • NTEE P80 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$230,834

Up $128,604 (+126%) from 2021

Net Assets

Up

$138,062

Up $47,793 (+53%) from 2021

Liabilities

Up

$92,772

Up $80,811 (+676%) from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin69th percentile

Revenue

Up

$322,010

Up $58,728 (+22%) from 2021

Expenses

Down

$274,217

Down $14,540 (-5.0%) from 2021

Net Income

Up

$47,793

Up $73,268 (+288%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2022

Assets$230,834
Liabilities$92,772
Net Assets$138,062
Open 2022 Filing

Operations Trend

Revenue Growth63rd 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

2022

Revenue$322,010
Expenses$274,217
Net Income$47,793
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 25, 2023
Return Version
2022v5.0
Gross Receipts
$322,010
Mission and Program Overview

Mission

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

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$92,230$221,021▲ $128,791
Rtn Earn Endowment Incm Other Fnds$90,269$138,062▲ $47,793
Pledges and Grants Receivable$10,000--
Intangible Assets-$7,462-
Land, Buildings, and Equipment, Net-$2,351-
Total Assets$102,230$230,834▲ $128,604
Liabilities
Accounts Payable and Accrued Expenses$11,961$92,772▲ $80,811
Total Liabilities$11,961$92,772▲ $80,811
Net Assets / Fund Balance
Total Net Assets Fund Balance$90,269$138,062▲ $47,793
Total Liabilities and Net Assets / Fund Balance$102,230$230,834▲ $128,604

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,351$415$2,766
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jill AthertonExecutive DiFT$52,500$52,500

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
$313,130
Program Service Revenue
$8,880
Investment Income
$0
Other Revenue
$0
All Other Contributions
$303,130
Change in Net Assets
$47,793
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,909
Salaries, Compensation, and Employee Benefits$92,308
Grants and Similar Amounts Paid$41,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$52,500-$52,500
Grants to Domestic Orgs$41,000--$41,000
Fees for Services Other-$32,318-$32,318
Other Salaries and Wages$32,292--$32,292
Office Expenses-$8,925-$8,925
Payroll Taxes$2,862$4,380-$7,242
Advertising$3,558--$3,558
Occupancy$2,701--$2,701
Fees for Services Accounting-$1,390-$1,390
Depreciation Depletion$1,103--$1,103
Insurance-$810-$810
Travel$363--$363
Other Expenses$87,908$304-$304
Other Employee Benefits$274--$274
Conferences and Meetings$170--$170
Total Functional Expenses$172,231$101,986$0$274,217
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
2023-05-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Leander
Formed
2015
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
50

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 32,318 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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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 32,318 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/WebsiteAddressTxt0WWW.FLYWHEELCOWORKING.COM/FLYWHEEL-FOU
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILL JOYNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03367257808
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLYWHEEL FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0FLYW
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINSTONSALEM
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027104
ReturnHeader/PreparerPersonGrp/PhoneNum03367682310
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANE R POTTER
ReturnHeader/ReturnTs02023-11-14T08:50:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JOYNER
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$230,834
Liabilities
$92,772
Net assets
$138,062
Revenue
$322,010
Expenses
$274,217
Net income
$47,793
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