Civic Intelligence

Forsyth County Development Corporat

EIN 56-1576009 • 501(c)6 • Winstonsalem, NC

View Organization Page

Profile

To recruit new business and industry to the city of winston-salem and forsyth county north carolina through lease holding and real estate development.

95 W 32nd StreetWinstonsalem, NC 27105

www.wsbusinessinc.com

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2020

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

7th percentile

-100%

Faster asset growth than 7% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-100%

Faster revenue growth than 2% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $4,299,894 (-100%) from 2019

Liabilities

Down

$0

Down $526,600 (-100%) from 2019

Net Assets

Down

$0

Down $3,773,294 (-100%) from 2019

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $11,793 (-100%) from 2019

Expenses

Down

$0

Down $114,472 (-100%) from 2019

Net Income

Up

$0

Up $102,679 (+100%) from 2019

Trend Graphs

Balance Sheet Trend

Asset Growth7th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,310,849Liabilities 2010: $130,000Net Assets 2010: $4,180,8492010Assets 2011: $4,136,366Liabilities 2011: $60,000Net Assets 2011: $4,076,3662011Assets 2012: $3,522,572Liabilities 2012: $20,000Net Assets 2012: $3,502,5722012Assets 2013: $3,484,019Liabilities 2013: $22,875Net Assets 2013: $3,461,1442013Assets 2014: $3,170,648Liabilities 2014: $0Net Assets 2014: $3,170,6482014Assets 2015: $3,107,193Liabilities 2015: $29,550Net Assets 2015: $3,077,6432015Assets 2016: $4,084,936Liabilities 2016: $690,776Net Assets 2016: $3,394,1602016Assets 2017: $3,972,578Liabilities 2017: $559,550Net Assets 2017: $3,413,0282017Assets 2018: $4,405,523Liabilities 2018: $529,550Net Assets 2018: $3,875,9732018Assets 2019: $4,299,894Liabilities 2019: $526,600Net Assets 2019: $3,773,2942019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0
Open 2020 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2010: $278,093Expenses 2010: $77,872Net Income 2010: $200,2212010Expenses 2011: $118,8992011Revenue 2012: $9,945Expenses 2012: $583,739Net Income 2012: -$573,7942012Revenue 2013: $8,524Expenses 2013: $49,952Net Income 2013: -$41,4282013Revenue 2014: -$252,959Expenses 2014: $37,537Net Income 2014: -$290,4962014Revenue 2015: $17,894Expenses 2015: $110,899Net Income 2015: -$93,0052015Revenue 2016: $402,605Expenses 2016: $86,088Net Income 2016: $316,5172016Revenue 2017: $125,101Expenses 2017: $106,233Net Income 2017: $18,8682017Revenue 2018: $510,208Expenses 2018: $47,263Net Income 2018: $462,9452018Revenue 2019: $11,793Expenses 2019: $114,472Net Income 2019: -$102,6792019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020

Highlighted filing

2020

Revenue$0
Expenses$0
Net Income$0
Open 2020 Filing

Filings

Most recent year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$0
Expenses
$0
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$4.30$0.53$3.77$0.01$0.11$0.10
2018Detailed filing. Detailed filing data is available for this year.$4.41$0.53$3.88$0.51$0.05$0.46
2017Detailed filing. Detailed filing data is available for this year.$3.97$0.56$3.41$0.13$0.11$0.02
2016Detailed filing. Detailed filing data is available for this year.$4.08$0.69$3.39$0.40$0.09$0.32
2015Detailed filing. Detailed filing data is available for this year.$3.11$0.03$3.08$0.02$0.11$0.09
2014Detailed filing. Detailed filing data is available for this year.$3.17$0.00$3.17$0.25$0.04$0.29
2013Detailed filing. Detailed filing data is available for this year.$3.48$0.02$3.46$0.01$0.05$0.04
2012Summary only. Only limited summary data is available for this year.$3.52$0.02$3.50$0.01$0.58$0.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.14$0.06$4.08$0.12
2010Summary only. Only limited summary data is available for this year.$4.31$0.13$4.18$0.28$0.08$0.20
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$0
Mission and Program Overview

Mission

To recruit new business and industry to the city of winston-salem and forsyth county north carolina through lease holding and real estate development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,624,377--
Other Notes and Loans Receivable, Net$1,614,325--
Cash and Non-Interest-Bearing Accounts$1,061,192--
Total Assets$4,299,894$0▼ $4,299,894
Liabilities
Unsecured Notes Loans Payable$500,000--
Accounts Payable and Accrued Expenses$26,600--
Total Liabilities$526,600$0▼ $526,600
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,773,294--
Total Net Assets Fund Balance$3,773,294$0▼ $3,773,294
Total Liabilities and Net Assets / Fund Balance$4,299,894$0▼ $4,299,894
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Cantey AlexanderChairman
Robert E Leak JrPresident
Stephen C KoelschVice Chairma
Donald FlowDirector
Dr Janet SpriggsDirector
Elwood Robinson PhdDirector
G William Joyner IiiDirector
Hap RoysterDirector
J Allen JoinesDirector
Jeff LindsayDirector
Jerry CookDirector
John Wilson IiiDirector
Jonathan ChaseDirector
Julie a Freischlag MdDirector
Ken WalkerDirector
Kenneth BaschDirector
Leigh C BagleyDirector
Lisa VenableDirector
Michael RogersDirector
Michael SuggsDirector
Mike LancasterDirector
Rob WelchDirector
Robert EglestonDirector
Ted KaplanDirector
Todd HallDirector
Trent JerniganDirector
Wrenn WellsDirector
Jimmy FlytheImmediate Pa
Scott SewellSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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

“The board reviews the audited financial statements. The president reviews the form 990 for comparability to the audit results and then files the form 990.”

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

“Each board member is required to disclose any interests that could give rise to conflict and sign a conflict of interest policy statement annually.”

Form 990, Page 6, Part VI, Line 19

“The organization makes it governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Forsyth County Development Corporat
EIN
56-1576009
Phone
0336723895
Address
95 W 32ND STREET, WINSTONSALEM, NC 27105

Signing Officer

Name
Cantey Alexander
Title
Chairman
Phone
3367238955
Signed
2021-11-12

Organization Details

Principal Officer
Cantey Alexander
Formed
1987
Legal Domicile
Nc
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
Valerie D Kiger
Phone
3367250635
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Assets merged into wpda inc. -3,773,294”

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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/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990/MissionDesc0TO RECRUIT NEW BUSINESS AND INDUSTRY TO THE CITY OF WINSTON-SALEM AND FORSYTH COUNTY NORTH CAROLINA THROUGH LEASE HOLDING AND REAL ESTATE DEVELOPMENT.
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IRS990ScheduleN/DispositionOfAssetsDetail/EIN0453814914
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IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0WHITAKER PARK DEVELOPMENT AUTHORITY
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0WINSTON SALEM
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0ROBERT LEAKE EXECUTIVE DIRECTOR
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1FORSYTH COUNTY DEVELOPMENT CORPORATION MERGED WITH WHITAKER PARK DEVELOPMENT AUTHORITY ON JANUARY 1, 2020. ACTION WAS APPROVED THE THE BOARDOF DIRECTORS OF BOTH ORGANIZATIONS. ALL ASSETS AND LIABILITIES OF FORSYTHCOUNTY DEVELOPMENT CORPORATION WERE ABSORBED BY WHITAKER PARK DEVELOPMENT AUTHORITY.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N, PART II, PAGE 2, LINE 2E
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE N
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS THE AUDITED FINANCIAL STATEMENTS. THE PRESIDENT REVIEWS THE FORM 990 FOR COMPARABILITY TO THE AUDIT RESULTS AND THEN FILES THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER IS REQUIRED TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICT AND SIGN A CONFLICT OF INTEREST POLICY STATEMENT ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ASSETS MERGED INTO WPDA INC. -3,773,294
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/WebsiteAddressTxt0WWW.WSBUSINESSINC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CANTEY ALEXANDER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03367238955
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FORSYTH COUNTY DEVELOPMENT CORPORAT
ReturnHeader/Filer/BusinessNameControlTxt0FORS
ReturnHeader/Filer/EIN0561576009
ReturnHeader/Filer/PhoneNum00336723895
ReturnHeader/Filer/USAddress/AddressLine1Txt095 W 32ND STREET
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560727655
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CANNON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02160 COUNTRY CLUB RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINSTONSALEM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0271044208
ReturnHeader/PreparerPersonGrp/PhoneNum03367250635
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0VALERIE D KIGER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-15T12:30:52-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CANTEY

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