Civic Intelligence

Greater Winston-Salem Inc

EIN 56-0459820 • 501(c)6 • Winstonsalem, NC

View Organization Page

Profile

Greater winston-salem inc. Is a leading business organization in winston- salem and forsyth county. The organization is focused on establishing winston-salem as a technology-driven economic center. Greater winston-salem inc. Offers services to strengthen existing businesses, to encourage small business creation, and to develop a talented workforce within forsyth county.

525 Vine Street Suite 240Winstonsalem, NC 27101

www.winstonsalem.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.33x

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

501(c)6 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

0.55x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2024

Net Margin

92nd percentile

30%

Higher net margin than 92% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$358,260

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

501(c)6 • $5M-$10M nonprofits • Source year 2024

Asset Growth

97th percentile

65%

Faster asset growth than 97% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

91st percentile

34%

Faster revenue growth than 91% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$6,313,925

Up $2,477,258 (+65%) from 2023

Liabilities

Up

$2,067,932

Up $1,286,036 (+164%) from 2023

Net Assets

Up

$4,245,993

Up $1,191,222 (+39%) from 2023

Operations
Liabilities / Revenue75th percentileNet Margin92nd percentile

Revenue

Up

$3,743,231

Up $954,529 (+34%) from 2023

Expenses

Up

$2,621,262

Up $171,204 (+7.0%) from 2023

Net Income

Up

$1,121,969

Up $783,325 (+231%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $3,030,604Liabilities 2010: $842,071Net Assets 2010: $2,188,5332010Assets 2011: $3,208,414Liabilities 2011: $911,025Net Assets 2011: $2,297,3892011Assets 2012: $2,991,875Liabilities 2012: $761,482Net Assets 2012: $2,230,3932012Assets 2013: $3,095,882Liabilities 2013: $886,162Net Assets 2013: $2,209,7202013Assets 2014: $3,120,072Liabilities 2014: $884,725Net Assets 2014: $2,235,3472014Assets 2015: $3,104,163Liabilities 2015: $780,082Net Assets 2015: $2,324,0812015Assets 2016: $3,153,978Liabilities 2016: $861,559Net Assets 2016: $2,292,4192016Assets 2017: $3,046,924Liabilities 2017: $942,088Net Assets 2017: $2,104,8362017Assets 2018: $2,655,625Liabilities 2018: $573,710Net Assets 2018: $2,081,9152018Assets 2019: $2,577,263Liabilities 2019: $632,379Net Assets 2019: $1,944,8842019Assets 2020: $2,748,772Liabilities 2020: $470,819Net Assets 2020: $2,277,9532020Assets 2021: $2,963,199Liabilities 2021: $558,807Net Assets 2021: $2,404,3922021Assets 2022: $3,397,180Liabilities 2022: $713,166Net Assets 2022: $2,684,0142022Assets 2023: $3,836,667Liabilities 2023: $781,896Net Assets 2023: $3,054,7712023Assets 2024: $6,313,925Liabilities 2024: $2,067,932Net Assets 2024: $4,245,9932024

Highlighted filing

2024

Assets$6,313,925
Liabilities$2,067,932
Net Assets$4,245,993
Open 2024 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,865,4272010Expenses 2011: $1,778,3632011Revenue 2012: $1,885,418Expenses 2012: $1,952,414Net Income 2012: -$66,9962012Revenue 2013: $1,748,217Expenses 2013: $1,768,890Net Income 2013: -$20,6732013Revenue 2014: $1,979,036Expenses 2014: $1,953,409Net Income 2014: $25,6272014Revenue 2015: $2,102,193Expenses 2015: $2,013,459Net Income 2015: $88,7342015Revenue 2016: $2,065,265Expenses 2016: $2,096,927Net Income 2016: -$31,6622016Revenue 2017: $2,055,624Expenses 2017: $2,243,207Net Income 2017: -$187,5832017Revenue 2018: $1,793,980Expenses 2018: $1,816,901Net Income 2018: -$22,9212018Revenue 2019: $1,751,594Expenses 2019: $1,888,625Net Income 2019: -$137,0312019Revenue 2020: $1,979,787Expenses 2020: $1,652,271Net Income 2020: $327,5162020Revenue 2021: $1,786,038Expenses 2021: $1,688,741Net Income 2021: $97,2972021Revenue 2022: $2,593,189Expenses 2022: $2,259,352Net Income 2022: $333,8372022Revenue 2023: $2,788,702Expenses 2023: $2,450,058Net Income 2023: $338,6442023Revenue 2024: $3,743,231Expenses 2024: $2,621,262Net Income 2024: $1,121,9692024

Highlighted filing

2024

Revenue$3,743,231
Expenses$2,621,262
Net Income$1,121,969
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,313,925
Liabilities
$2,067,932
Net assets
$4,245,993
Revenue
$3,743,231
Expenses
$2,621,262
Net income
$1,121,969
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.31$2.07$4.25$3.74$2.62$1.12
2023Detailed filing. Detailed filing data is available for this year.$3.84$0.78$3.05$2.79$2.45$0.34
2022Detailed filing. Detailed filing data is available for this year.$3.40$0.71$2.68$2.59$2.26$0.33
2021Detailed filing. Detailed filing data is available for this year.$2.96$0.56$2.40$1.79$1.69$0.10
2020Detailed filing. Detailed filing data is available for this year.$2.75$0.47$2.28$1.98$1.65$0.33
2019Detailed filing. Detailed filing data is available for this year.$2.58$0.63$1.94$1.75$1.89$0.14
2018Detailed filing. Detailed filing data is available for this year.$2.66$0.57$2.08$1.79$1.82$0.02
2017Detailed filing. Detailed filing data is available for this year.$3.05$0.94$2.10$2.06$2.24$0.19
2016Detailed filing. Detailed filing data is available for this year.$3.15$0.86$2.29$2.07$2.10$0.03
2015Detailed filing. Detailed filing data is available for this year.$3.10$0.78$2.32$2.10$2.01$0.09
2014Detailed filing. Detailed filing data is available for this year.$3.12$0.88$2.24$1.98$1.95$0.03
2013Detailed filing. Detailed filing data is available for this year.$3.10$0.89$2.21$1.75$1.77$0.02
2012Summary only. Only limited summary data is available for this year.$2.99$0.76$2.23$1.89$1.95$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.21$0.91$2.30$1.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.03$0.84$2.19$1.87
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.0
Gross Receipts
$3,743,231
Mission and Program Overview

Mission

The greater winston-salem chamber of commerce is a leading business organization in winston-salem and forsyth county, representing more than 1,500 area businesses. The chamber is focused on establishing winston-salem as a technology-driven economic center. The chamber offers services to strengthen existing businesses, to encourage small business creation, and to develop a talented workforce within forsyth county.

To promote and encourage business development in winston-salem and forysth county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,410,952$1,874,065▲ $463,113
Investments Other Securities$832,416$930,660▲ $98,244
Land, Buildings, and Equipment, Net$927,601$844,246▼ $83,355
Cash and Non-Interest-Bearing Accounts-$539,763-
Accounts Receivable$365,660$230,892▼ $134,768
Prepaid Expenses and Deferred Charges$30,065$57,762▲ $27,697
Total Assets$3,836,667$6,313,925▲ $2,477,258
Other Assets Total$269,973$1,836,537▲ $1,566,564
Liabilities
Other Liabilities-$1,408,838-
Deferred Revenue$633,929$553,278▼ $80,651
Accounts Payable and Accrued Expenses$147,967$105,816▼ $42,151
Total Liabilities$781,896$2,067,932▲ $1,286,036
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,839,931$3,424,455▲ $584,524
Net Assets With Donor Restrictions$214,840$821,538▲ $606,698
Total Net Assets Fund Balance$3,054,771$4,245,993▲ $1,191,222
Total Liabilities and Net Assets / Fund Balance$3,836,667$6,313,925▲ $2,477,258

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$652,943$100,692$753,635
Equipment$191,303$124,472$315,775
Other Assets Org$436,297--
Other Securities$930,660--
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark OwensPresident/cePT$332,810$25,450$358,260
Mark OwensPresident/CEO-$259,480$98,780$358,260
Nick ReedCFOPT$150,000$40,505$190,505

Board Members and Trustees

NameTitle
Cathy PaceBoard Chair
Mike LancasterChair Elect
David NeillFormer Chair
Anthony GrahamDirector
Aubrey LinvilleDirector
Brent WaddellDirector
Chad SetliffDirector
Coleman TeamDirector
David MullenDirector
David ZassDirector
Dr Julia Jackson-newsomDirector
Elise Peters CareyDirector
Janet SpriggsDirector
Jason WenkerDirector
Jennifer ByrneDirector
Jeremy BjorkDirector
Jimmy FlytheDirector
John Davenport JrDirector
Mamie SutphinDirector
Michael RogersDirector
Quentin WilliamsDirector
Sam MetzlerDirector
Scott SewellDirector
Shay MustafaDirector
Steve LinebergerDirector
Steven BrewerDirector
Terry HalesDirector
Todd HallDirector
Trent JerniganDirector
Elwood RobinsonSecretary
Aprille BellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,192,223
Program Service Revenue
$1,433,763
Investment Income
$99,252
Other Revenue
$17,993
All Other Contributions
$1,200,490
Change in Net Assets
$1,121,969

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,455,090
Revenue Not Reported on Financial Statements
$288,141
Revenue Not Reported on Form 990
$69,253
Other Revenue Adjustments
$285,031
Total Revenue per Audited Statements
$3,524,343
Total Revenue per Form 990
$3,743,231
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,244,837
Other Expenses$1,027,959
Grants and Similar Amounts Paid$348,466
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$606,284
Grants to Domestic Orgs---$348,466
Current Officers, Directors, Trustees, and Key Employees---$248,331
Other Employee Benefits---$189,624
Occupancy---$177,710
Advertising---$152,739
Depreciation Depletion---$134,674
Payroll Taxes---$106,918
Pension Plan Contributions---$93,680
Office Expenses---$37,587
Fees for Services Other---$33,075
Insurance---$22,335
Travel---$19,255
Fees for Services Accounting---$16,143
Conferences and Meetings---$9,330
Other Expenses---$4,270
Fees for Service Investment Mgmnt Fees---$3,110
Fees for Services Legal---$1,394
All Other Expenses---$133
Total Functional Expenses$0$0$0$2,621,262

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,621,262
Expenses per Audited Statements$2,333,121
Total Expenses per Audited Statements$2,333,121
Expenses Not Reported on Financial Statements$288,141
Other Expense Adjustments$285,031
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Winston-salem DevelopmentWinstonsalem, NC501c3Operating Support$285,031
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
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$33,824
Total Nondeductible Lobbying and Political Cost$33,824
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$1,408,838
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Greater winston-salem inc. Is a membership organization of local businesses.”

Form 990, Page 6, Part VI, Line 11B

“The federal form 990 is reviewed and approved by the filing organization's finance committee. The final 990 is made available to all board of directors once approved by the finance committee and before it is submitted to the irs.”

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

“The organization requires directors and officers to annual review the organizations' conflict of interest policy and disclose annually (and as they arise) any potential conflicts of interest. The policy provides for the determination of conflicts of interest and the resolution of potential and actual conflicts.”

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

“The board chair is given the authority to recommend an appropriate salary range and benefits package for the president / ceo. The board chair has access to compensation surveys and other market data to ensure that the organization is paying a competitive and reasonable compensation to the president/ceo. The board chair takes the compensation recommendation to the executive committee for formal approval and this information is included in the annual budget that is formally approved by the board of directors.”

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

“See explanation for line 15a.”

Form 990, Page 6, Part VI, Line 18

“The organization's form 990 is available to the public on www.guidestar.org. Guidestar independently posts tax-exempt organization's form 990 on their website, obtained from the internal revenue service.”

Form 990, Page 6, Part VI, Line 19

“The organization's articles of incorporation are available to the public on request and are available on the website of the north carolina secretary of state. The organizations bylaws are not published, but provisions from the bylaws are included as necessary in the organizations policies. The organization's conflict of interest policy and financial statements are available to the public on request.”

Filing and Contact Details

Filer

Filer Name
Greater Winston-salem Inc
EIN
56-0459820
Phone
3367289200
Address
525 VINE STREET SUITE 240, WINSTONSALEM, NC 27101

Signing Officer

Name
Mark Owens
Title
President/CEO
Phone
3367289200
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Owens
Formed
1942
Legal Domicile
Nc
Voting Board Members
31
Independent Board Members
31
Employees
22
Volunteers
260

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 - ORGANIZATION'S MISSION

“Greater winston-salem inc. Is a leading business organization in winston- salem and forsyth county. The organization is focused on establishing winston-salem as a technology-driven economic center. Greater winston-salem inc. Offers services to strengthen existing businesses, to encourage small business creation, and to develop a talented workforce within forsyth county.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Greater winston-salem inc. Is a not-for-profit organization and is exempt from income taxes under section 501(c)(6) of the internal revenue code. Accordingly, income tax expense is limited to activities that are deemed by the internal revenue service to be unrelated to its exempt purpose. Greater winston-salem inc.'s primary tax position relate to its status as a not-for-profit entity exempt from income taxes and classification of activities related to its exempt purpose. It is the opinion of management that greater winston-salem inc. Has no uncertain tax positions that would be subject to change upon examination. Greater winston-salem inc. Is required to file a federal exempt organization tax return (form 990) annually to retain its exempt status. Greater winston-salem inc. Is also required to file an exempt organization business income tax return (form 990-t) for any year unrelated business income exceeds 1,000. Greater winston-salem inc.'s form 990 filings are generally subject to examination by the internal revenue service for three years after they are filed.”

Schedule D, Page 4, Part XI, Line 4B

“Membership dues received & allocated to devolpment corp. 285,031”

Schedule D, Page 4, Part XII, Line 4B

“Membership dues received & allocated to devolpment corp. 285,031”

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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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IRS990/MissionDesc0GREATER WINSTON-SALEM INC. IS A LEADING BUSINESS ORGANIZATION IN WINSTON- SALEM AND FORSYTH COUNTY. THE ORGANIZATION IS FOCUSED ON ESTABLISHING WINSTON-SALEM AS A TECHNOLOGY-DRIVEN ECONOMIC CENTER. GREATER WINSTON-SALEM INC. OFFERS SERVICES TO STRENGTHEN EXISTING BUSINESSES, TO ENCOURAGE SMALL BUSINESS CREATION, AND TO DEVELOP A TALENTED WORKFORCE WITHIN FORSYTH COUNTY.
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