Civic Intelligence

Flywheel Foundation

990 • Fiscal year 2023 • EIN 47-3707235

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 16, 2024

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

0.32x

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

2023 filings • NTEE P80 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

0.20x

Higher debt load relative to revenue than 79% of similar nonprofits.

2023 filings • NTEE P80 • <$500k nonprofits • Source year 2023

Net Margin

58th percentile

15%

Higher net margin than 58% of similar nonprofits.

2023 filings • NTEE P80 • <$500k nonprofits • Source year 2023

Top Officer Pay

97th percentile

$67,119

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

2023 filings • NTEE P80 • <$500k nonprofits • Source year 2023

Asset Growth

72nd percentile

36%

Faster asset growth than 72% of similar nonprofits.

2023 filings • NTEE P80 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

78th percentile

55%

Faster revenue growth than 78% of similar nonprofits.

2023 filings • NTEE P80 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$313,466

Up $82,632 (+36%) from 2022

Net Assets

Up

$213,841

Up $75,779 (+55%) from 2022

Liabilities

Up

$99,625

Up $6,853 (+7.4%) from 2022

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin58th percentile

Revenue

Up

$499,451

Up $177,441 (+55%) from 2022

Expenses

Up

$423,672

Up $149,455 (+55%) from 2022

Net Income

Up

$75,779

Up $27,986 (+59%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2023

Assets$313,466
Liabilities$99,625
Net Assets$213,841
Open 2023 Filing

Operations Trend

Revenue Growth78th 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

2023

Revenue$499,451
Expenses$423,672
Net Income$75,779
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 16, 2024
Return Version
2023v5.0
Gross Receipts
$499,451
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
Rtn Earn Endowment Incm Other Fnds$138,062$213,841▲ $75,779
Cash and Non-Interest-Bearing Accounts$221,021$203,946▼ $17,075
Land, Buildings, and Equipment, Net$2,351$88,124▲ $85,773
Accounts Receivable-$10,715-
Intangible Assets$7,462$10,032▲ $2,570
Prepaid Expenses and Deferred Charges-$649-
Total Assets$230,834$313,466▲ $82,632
Liabilities
Accounts Payable and Accrued Expenses$92,772$99,625▲ $6,853
Total Liabilities$92,772$99,625▲ $6,853
Net Assets / Fund Balance
Total Net Assets Fund Balance$138,062$213,841▲ $75,779
Total Liabilities and Net Assets / Fund Balance$230,834$313,466▲ $82,632

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$67,729$1,002$68,731
Equipment$20,395$3,829$24,224
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jill AthertonExecutive DiFT$67,083$36$67,119

Board Members and Trustees

NameTitle
Iris ColeBoard Chair
Fletcher SteeleBoard Member
Irene WongBoard Member
Larry BarronBoard Member
Laura LeeBoard Member
Page CastrodaleBoard Member
Peter MarshBoard Member
Stephen EdwardsBoard Member
Suresh GopalanBoard Member
Trinity ManningBoard Member
Will JoynerSecretary
Rick LeanderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$437,888
Program Service Revenue
$61,563
Investment Income
$0
Other Revenue
$0
All Other Contributions
$432,888
Change in Net Assets
$75,779
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,311
Grants and Similar Amounts Paid$137,530
Salaries, Compensation, and Employee Benefits$109,831
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$137,530--$137,530
Current Officers, Directors, Trustees, and Key Employees-$67,119-$67,119
Fees for Services Other-$59,897-$59,897
Other Salaries and Wages$34,819--$34,819
Advertising$22,684--$22,684
Office Expenses-$16,935-$16,935
Payroll Taxes$2,664$5,132-$7,796
Depreciation Depletion$7,097--$7,097
Travel$6,090--$6,090
Occupancy$3,652--$3,652
Fees for Services Accounting-$1,845-$1,845
Insurance-$1,507-$1,507
Conferences and Meetings$614--$614
Other Expenses$1,843$564-$564
Other Employee Benefits$97--$97
Total Functional Expenses$269,232$154,440$0$423,672
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Careyaya Health Technologies IncResearch Triangle Park, NC-Operations$20,000
Clinispan Health IncDurham, NC-Operations$20,000
Felk After-school LLCSalisbury, NC-Operations$20,000
Nutrible IncSaint Louis, MO501c3Operations$20,000
Zabs PlaceMatthews, NC-Operations$20,000
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
Irene Wong
Title
Secretary
Phone
3367257808
Signed
2024-07-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Iris Cole
Formed
2015
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
122

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 59,897 0”

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt057000
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt057000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01212757
IRS990ScheduleA/TotalSupportAmt01212757
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IRS990ScheduleI/RecipientTable/CashGrantAmt420000
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3OPERATIONS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4OPERATIONS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NUTRIBLE INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CLINISPAN HEALTH INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2ZABS PLACE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3CAREYAYA HEALTH TECHNOLOGIES INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4FELK AFTER-SCHOOL LLC
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IRS990ScheduleI/RecipientTable/RecipientEIN1824769503
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt168 TW ALEXANDER DR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2100 N TRADE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3600 PARK OFFICES DRIVE SUITE 300
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4612 W INNES STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0SAINT LOUIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1DURHAM
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IRS990ScheduleI/RecipientTable/USAddress/CityNm3RESEARCH TRIANGLE PARK
IRS990ScheduleI/RecipientTable/USAddress/CityNm4SALISBURY
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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
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IRS990/ScheduleJRequiredInd0false
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 59,897 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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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$313,466
Liabilities
$99,625
Net assets
$213,841
Revenue
$499,451
Expenses
$423,672
Net income
$75,779
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