Civic Intelligence

Wake Enterprises Inc.

990 • Fiscal year 2018 • EIN 56-1248778

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 25, 2019

Organization Profilewww.wake-enterprises.org

View Organization Page

3548 Bush StreetRaleigh, NC 27609

(919) 714-6100

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$4,201,737

Flat from 2018

Net Assets

Flat

$1,549,077

Flat from 2018

Liabilities

Flat

$2,652,660

Flat from 2018

Revenue And Expenses

Revenue

Flat

$2,606,822

Flat from 2018

Expenses

Flat

$2,732,224

Flat from 2018

Net Income

Flat

-$125,402

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $5,230,571Liabilities 2011: $3,591,943Net Assets 2011: $1,638,6282011Assets 2012: $5,084,257Liabilities 2012: $3,489,440Net Assets 2012: $1,594,8172012Assets 2013: $4,994,848Liabilities 2013: $3,359,682Net Assets 2013: $1,635,1662013Assets 2014: $4,855,823Liabilities 2014: $3,251,098Net Assets 2014: $1,604,7252014Assets 2015: $4,923,322Liabilities 2015: $2,849,471Net Assets 2015: $2,073,8512015Assets 2016: $4,702,064Liabilities 2016: $2,834,569Net Assets 2016: $1,867,4952016Assets 2017: $4,418,646Liabilities 2017: $2,745,748Net Assets 2017: $1,672,8982017Assets 2018: $4,201,737Liabilities 2018: $2,652,660Net Assets 2018: $1,549,0772018Assets 2018: $4,201,737Liabilities 2018: $2,652,660Net Assets 2018: $1,549,0772018Assets 2019: $5,727,491Liabilities 2019: $2,989,868Net Assets 2019: $2,737,6232019Assets 2020: $5,337,274Liabilities 2020: $2,762,266Net Assets 2020: $2,575,0082020Assets 2021: $4,174,485Liabilities 2021: $767,350Net Assets 2021: $3,407,1352021Assets 2022: $4,171,392Liabilities 2022: $701,985Net Assets 2022: $3,469,4072022Assets 2023: $4,227,033Liabilities 2023: $657,024Net Assets 2023: $3,570,0092023Assets 2024: $3,661,079Liabilities 2024: $39,527Net Assets 2024: $3,621,5522024

Highlighted filing

2018

Assets$4,201,737
Liabilities$2,652,660
Net Assets$1,549,077
Open 2018 Filing

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $3,180,0572011Expenses 2012: $3,317,2032012Expenses 2013: $3,073,1092013Revenue 2014: $2,962,241Expenses 2014: $2,992,682Net Income 2014: -$30,4412014Revenue 2015: $3,396,869Expenses 2015: $2,927,743Net Income 2015: $469,1262015Revenue 2016: $2,464,562Expenses 2016: $2,670,918Net Income 2016: -$206,3562016Revenue 2017: $2,413,865Expenses 2017: $2,608,462Net Income 2017: -$194,5972017Revenue 2018: $2,606,822Expenses 2018: $2,732,224Net Income 2018: -$125,4022018Revenue 2018: $2,606,822Expenses 2018: $2,732,224Net Income 2018: -$125,4022018Revenue 2019: $2,571,692Expenses 2019: $2,971,510Net Income 2019: -$399,8182019Revenue 2020: $2,348,301Expenses 2020: $2,654,157Net Income 2020: -$305,8562020Revenue 2021: $2,774,198Expenses 2021: $2,094,794Net Income 2021: $679,4042021Revenue 2022: $2,163,605Expenses 2022: $2,078,161Net Income 2022: $85,4442022Revenue 2023: $2,398,027Expenses 2023: $2,302,435Net Income 2023: $95,5922023Revenue 2024: $2,669,860Expenses 2024: $2,623,503Net Income 2024: $46,3572024

Highlighted filing

2018

Revenue$2,606,822
Expenses$2,732,224
Net Income-$125,402
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 25, 2019
Return Version
2017v2.2
Gross Receipts
$2,612,049
Mission and Program Overview

Mission

Founded in 1979, Wake Enterprises, Inc.("WE")provides vocational and social opportunities for adults with intellectual and developmental disabilities, and became the first agency in North Carolina offering supported employment in 1982. WE serves adults with intellectual and developmental disabilities including autism, Down Syndrome, traumatic brain injuries and seizure disorders.

Wake Enterprise, Inc's. mission is to assist people with disabilities to achieve their maximum level of independence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,463,752$2,365,759▼ $97,993
Savings and Temporary Cash Investments$1,045,582$930,821▼ $114,761
Cash and Non-Interest-Bearing Accounts$386,670$547,488▲ $160,818
Accounts Receivable$402,397$235,196▼ $167,201
Prepaid Expenses and Deferred Charges$70,774$67,438▼ $3,336
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,418,646$4,201,737▼ $216,909
Other Assets Total$49,471$55,035▲ $5,564
Liabilities
Tax Exempt Bond Liabilities$2,595,394$2,500,784▼ $94,610
Accounts Payable and Accrued Expenses$150,354$151,876▲ $1,522
Total Liabilities$2,745,748$2,652,660▼ $93,088
Net Assets / Fund Balance
Unrestricted Net Assets$1,664,943$1,546,872▼ $118,071
Temporarily Rstr Net Assets$7,955$2,205▼ $5,750
Total Net Assets Fund Balance$1,672,898$1,549,077▼ $123,821
Total Liabilities and Net Assets / Fund Balance$4,418,646$4,201,737▼ $216,909

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,576,283$1,441,708$3,017,991
Land$778,985-$778,985
Equipment$5,841$324,242$330,083
Other Land Buildings$4,650$131,591$136,241

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$35,110-▲ $2,252-$37,010
2016$31,961-▲ $3,487-$35,110
2015$33,047$100▼ $867-$31,961
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Walter WeeksExecutive DirectorFT$80,424$842$81,266
Oshana WatkinsDevelopment DirectorFT$47,792-$47,792

Board Members and Trustees

NameTitle
Kim BurchellPresident
Aaron WhiteDirector
Betty CampDirector
Dixie BlackmonDirector
Hal AveretteDirector
John N McClain JrDirector
Norman Camp IIIDirector
Richard Rich GrebDirector
Susan Scott DalyDirector
Wyatt BuckinghamDirector
Deborah Holt Noel1st VP
Lorrie Gregg Hargreaves2nd VP
Wayne Lewis GentrySecretary
Katherine E Katie RogersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$77,950
Program Service Revenue
$2,510,832
Investment Income
$8,816
Other Revenue
$9,224
All Other Contributions
$44,972
Change in Net Assets
$-125,402

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,606,822
Revenue Not Reported on Form 990
$1,581
Total Revenue per Audited Statements
$2,608,403
Total Revenue per Form 990
$2,606,822
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,994,666
Other Expenses$737,558
Total Fundraising Expense$14,995
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,334,972$140,866$385$1,476,223
Other Employee Benefits$343,837$45,499$49$389,385
Depreciation Depletion$142,107$12,941$931$155,979
Current Officers, Directors, Trustees, and Key Employees-$124,279$4,779$129,058
All Other Expenses$77,569$14,987$3,301$95,857
Interest$82,802$3,557$170$86,529
Other Expenses$6,582$45,650$424$52,232
Insurance$36,699$3,262$196$40,157
Advertising$2,389$55$4,129$6,573
Travel-$541-$541
Total Functional Expenses$2,295,145$422,084$14,995$2,732,224

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,732,224
Total Expenses per Audited Statements$2,732,224
Total Expenses per Form 990$2,732,224
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,196
Fundraising Direct Expenses$5,227
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Run$14,526---
Golf$14,780$9,196-$9,196
Total Events$29,306$9,196$5,227$3,969
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndustrial Facilities2009-02-01$3,500,000Purchase and remodel building

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Two members of the board have a family relationship.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The 990 will be reviewed by the Accounting Consultant and the Director of Administration. It will then be presented to the Board of Directors for approval.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Yearly conflict of interest questionnaires are given to Board members and key employees. The questionnaires are reviewed by the Executive Director. The Executive Director reports to the board any potential conflicts.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“All compensation is determined by the Executive Director except for Executive Director compensation. Our by-laws give the board the power to appoint the Executive Director and to determine compensation. The board directors determines the Executive Director's compensation based on review, comparability data and contemporaneous substantiation.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“All compensation is determined by the Executive Director except for Executive Director compensation. Our by-laws give the board the power to appoint the Executive Director to determine compensation. The board directors determines the Executive Director's compensation based on review, comparability date and contemporaneous sustantiation.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Organization provides a completed copy to all members of the governing body at the board meeting in which the audited financial statements are presented, In the event that the return is not completed at the time of said meeting, s special meeting is called in order to receive the approval needed for filing of the 990”

Filing and Contact Details

Filer

Filer Name
Wake Enterprises Inc
EIN
56-1248778
Phone
9197146100
Address
3548 Bush Street, Raleigh, NC 27609

Signing Officer

Name
Oshana Watkins
Title
Executive Director
Signed
2019-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Oshana Watkins
Formed
1979
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
127
Volunteers
75

Preparer

Firm
Thomas & Gibbs Cpas Pllc
Address
6114 FAYETTEVILLE RD STE 101, DURHAM, NC 27713-6284
Preparer
Kenneth D Gibbs
Phone
9195440555
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“Support of Wake Enterprises operations.”

Part X : FIN48 Footnote

“The Organization is exempt from both federal and state income taxes for all program related income under Section 501(c)(3) of the Internal Revenue Code, except on net income derived from unrelated business activities. The Organization does not have any revenue that is subject to 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/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt92nd VP
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt111st VP
IRS990/Form990PartVIISectionAGrp/TitleTxt12Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt15Development Dir
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IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0true
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IRS990/FundraisingDirectExpensesAmt05227
IRS990/FundraisingGrossIncomeAmt09196
IRS990/GainOrLossGrp/OtherAmt02016
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IRS990/GoverningBodyVotingMembersCnt014
IRS990/GovernmentGrantsAmt012868
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/IncludeFIN48FootnoteInd0true
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IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/FundraisingAmt0196
IRS990/InsuranceGrp/ManagementAndGeneralAmt03262
IRS990/InsuranceGrp/ProgramServicesAmt036699
IRS990/InsuranceGrp/TotalAmt040157
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IRS990/InterestGrp/FundraisingAmt0170
IRS990/InterestGrp/ManagementAndGeneralAmt03557
IRS990/InterestGrp/ProgramServicesAmt082802
IRS990/InterestGrp/TotalAmt086529
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IRS990/IRPDocumentCnt030
IRS990/IRPDocumentW2GCnt00
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IRS990/LegalDomicileStateCd0NC
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Founded in 1979, Wake Enterprises, Inc.("WE")provides vocational and social opportunities for adults with intellectual and developmental disabilities, and became the first agency in North Carolina offering supported employment in 1982. WE serves adults with intellectual and developmental disabilities including autism, Down Syndrome, traumatic brain injuries and seizure disorders.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt01549077
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt01581
IRS990/NoncashContributionsAmt07795
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt045499
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0389385
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IRS990/OtherExpensesGrp/Desc1Utilities
IRS990/OtherExpensesGrp/Desc2Supplies
IRS990/OtherExpensesGrp/Desc3Professional Fees
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IRS990/OtherExpensesGrp/FundraisingAmt1354
IRS990/OtherExpensesGrp/FundraisingAmt2424
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07616
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt17415
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt215416
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt345650
IRS990/OtherExpensesGrp/ProgramServicesAmt0131951
IRS990/OtherExpensesGrp/ProgramServicesAmt179596
IRS990/OtherExpensesGrp/ProgramServicesAmt256641
IRS990/OtherExpensesGrp/ProgramServicesAmt36582
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IRS990/OtherExpensesGrp/TotalAmt187365
IRS990/OtherExpensesGrp/TotalAmt272481
IRS990/OtherExpensesGrp/TotalAmt352232
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt067438
IRS990/PrincipalOfficerNm0Oshana Watkins
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IRS990/ProgramServiceRevenueGrp/BusinessCd1561300
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1165961
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IRS990/PYOtherRevenueAmt022935
IRS990/PYProgramServiceRevenueAmt02316427
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IRS990/PYTotalRevenueAmt02413865
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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt01045582

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,201,737
Liabilities
$2,652,660
Net assets
$1,549,077
Revenue
$2,606,822
Expenses
$2,732,224
Net income
-$125,402
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.66$0.04$3.62$2.67$2.62$0.05
2023Detailed filing. Detailed filing data is available for this year.$4.23$0.66$3.57$2.40$2.30$0.10
2022Detailed filing. Detailed filing data is available for this year.$4.17$0.70$3.47$2.16$2.08$0.09
2021Detailed filing. Detailed filing data is available for this year.$4.17$0.77$3.41$2.77$2.09$0.68
2020Detailed filing. Detailed filing data is available for this year.$5.34$2.76$2.58$2.35$2.65$0.31
2019Detailed filing. Detailed filing data is available for this year.$5.73$2.99$2.74$2.57$2.97$0.40
2018Detailed filing. Detailed filing data is available for this year.$4.20$2.65$1.55$2.61$2.73$0.13
2018Detailed filing. Detailed filing data is available for this year.$4.20$2.65$1.55$2.61$2.73$0.13
2017Detailed filing. Detailed filing data is available for this year.$4.42$2.75$1.67$2.41$2.61$0.19
2016Detailed filing. Detailed filing data is available for this year.$4.70$2.83$1.87$2.46$2.67$0.21
2015Detailed filing. Detailed filing data is available for this year.$4.92$2.85$2.07$3.40$2.93$0.47
2014Detailed filing. Detailed filing data is available for this year.$4.86$3.25$1.60$2.96$2.99$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.99$3.36$1.64$3.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.08$3.49$1.59$3.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.23$3.59$1.64$3.18