Liabilities / Assets
93rd percentile
Higher debt load relative to assets than 93% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.00x
Liabilities / Revenue
100th percentile
Higher debt load relative to revenue than 100% of similar nonprofits.
Net Margin
23rd percentile
Higher net margin than 23% of similar nonprofits.
Top Officer Pay
6th percentile
Higher top officer pay than 6% of similar nonprofits.
Top officer pay equals 2683.2% of source-year revenue.
Asset Growth
9th percentile
Faster asset growth than 9% of similar nonprofits.
Revenue Growth
1st percentile
Faster revenue growth than 1% of similar nonprofits.
Balance Sheet
Assets
Down$227,280,253
Down $7,840,543 (-3.3%) from 2020
Net Assets
Flat$0
Flat from 2020
Liabilities
Down$227,280,253
Down $7,840,543 (-3.3%) from 2020
Revenue And Expenses
Revenue
Down$5,142
Down $19,609 (-79%) from 2020
Expenses
Down$5,142
Down $19,609 (-79%) from 2020
Net Income
Flat$0
Flat from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2020 to Jun 30, 2021
- Signed
- Nov 8, 2021
- Return Version
- 2020v4.0
- Gross Receipts
- $5,142
Mission and Program Overview
Mission
The corporation is specifically organized for the purpose of promoting the general public welfare of the citizens by assisting the city in carrying out its municipal and governmental functions through the acquisition, construction, sale or lease, improvements, facilities and equipment for the use and benefit of the general public.
The purpose of this corporation is to assist with the promoting of the general welfare of the citizens by assisting the city in carrying out its municipal and governmental functions through the acquisition, constr., sale or lease, improvements, facilities and equipment for the use and benefit of the public.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $175,485,000 | $173,805,000 | ▼ $1,680,000 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $235,120,796 | $227,280,253 | ▼ $7,840,543 |
| Other Assets Total | $59,635,796 | $53,475,253 | ▼ $6,160,543 |
| Liabilities | |||
| Other Liabilities | $235,120,796 | $227,280,253 | ▼ $7,840,543 |
| Total Liabilities | $235,120,796 | $227,280,253 | ▼ $7,840,543 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $0 | $0 | → $0 |
| Total Liabilities and Net Assets / Fund Balance | $235,120,796 | $227,280,253 | ▼ $7,840,543 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Assets Org | $697,897 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| Dave Mayes | Secretary/Treasurer/Director | $137,970 | $137,970 |
| Amy Beatty | President/Director | $131,300 | $131,300 |
| Luara Mortell | Vice President/Director | $125,483 | $125,483 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $0
- Investment Income
- $5,142
- Other Revenue
- $0
- Change in Net Assets
- $0
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $5,142 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Interest | $5,142 | - | - | $5,142 |
| Total Functional Expenses | $5,142 | $0 | $0 | $5,142 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Notes and Loans Recivable | $173,805,000 |
| Other Assets (interest Payments Due) | $53,475,253 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- 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
- No
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 8A
“Wilmington Future Inc acts as a conduit for the City of Wilmington, Wilmington Future Inc bylaws requires keeping and filing such records as are required by the Nonprofit Corporation of North Carolina; which includes all meetings and records of all actions.”
Form 990, Part VI, Section A, Line 8B
“Wilmington Future Inc bylaws requires keeping and filing such records as are required by the Nonprofit Corporation of North Carolina, which includes all meetings and records of all actions.”
Form 990, Part VI, Section B, Line 11B
“No policy or procedures are in place at this time for review of Form 990 by governing body”
Form 990, Part VI, Section C, Line 19
“Governing documents are available upon request made to the Director of Finance, City of Wilmington, 305 Chestnut Street, PO Box 1810, Wilmington, NC 28402. At this time, a conflict of interest policy has not been adopted by the governing board. Wilmington Future Inc has no financial transactions or account balances; therefore, it does not issue financial statements.”
Filing and Contact Details
Filer
- Filer Name
- Wilmington Future Inc
- EIN
- 56-2050806
- Phone
- 9103417822
- Address
- PO Box 1810, Wilmington, NC 28402
Signing Officer
- Name
- Amy Beatty
- Title
- President/Director
- Phone
- 9103417822
- Signed
- 2021-11-08
Organization Details
- Principal Officer
- Amy Beatty
- Formed
- 1997
- Legal Domicile
- Nc
- Voting Board Members
- 3
- Independent Board Members
- 3
- Employees
- 0
- Volunteers
- 0
Supplemental Narrative
Additional Explanations
Form 990, Part IV, Line 24A
“Wilmington Future Inc assists the City of Wilmington, NC in its municipal and governmental functions through the delivery of limited obligation bonds. The LOBs are pass-through certificates, evidencing proportionate undivided interest in rights to receive certain revenues payable by the City pursuant to a tax-exempt obligation issued by the City. The LOBs delivered by Wilmington Future Inc are not tax-exempt obligations. Wilmington Future Inc does not act as "on behalf of" issuer of tax-exempt obligations or as a borrower of tax-exempt bonds proceeds under a conduit loan with a governmental issuer. Therefore, Wilmington Future Inc has responded "no" to line 24a of Part IV.”
Raw XML Appendix365 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990/AccountantCompileOrReviewInd | 0 | 0 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | The purpose of this corporation is to assist with the promoting of the general welfare of the citizens by assisting the city in carrying out its municipal and governmental functions through the acquisition, constr., sale or lease, improvements, facilities and equipment for the use and benefit of the public. |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | Jennifer R Maready |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 9103417822 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 305 Chestnut Street |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine2Txt | 0 | PO Box 1810 |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Wilmington |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | NC |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 28402 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | 0 |
| IRS990/BusinessRlnWithFamMemInd | 0 | 0 |
| IRS990/BusinessRlnWithOrgMemInd | 0 | 0 |
| IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt | 0 | 0 |
| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 0 |
| IRS990/ChangeToOrgDocumentsInd | 0 | 0 |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/CollectionsOfArtInd | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
| IRS990/CompensationProcessCEOInd | 0 | 0 |
| IRS990/CompensationProcessOtherInd | 0 | 0 |
| IRS990/ConflictOfInterestPolicyInd | 0 | 0 |
| IRS990/ConservationEasementsInd | 0 | 0 |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | 0 |
| IRS990/CreditCounselingInd | 0 | 0 |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 0 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/CYInvestmentIncomeAmt | 0 | 5142 |
| IRS990/CYOtherExpensesAmt | 0 | 5142 |
| IRS990/CYOtherRevenueAmt | 0 | 0 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 0 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/CYTotalExpensesAmt | 0 | 5142 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 5142 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | 0 |
| IRS990/DeductibleArtContributionInd | 0 | 0 |
| IRS990/DeductibleNonCashContriInd | 0 | 0 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/Desc | 0 | Wilmington Future Inc is acting as a conduit for the city and will make no profit. All interest earned will be used to fund the project(s) or will be applied toward the payments due from the city. Thus, the city will have the benefit of all earnings on accounts held by the Trustee and Wilmington Future Inc will not hold any funds. |
| IRS990/DescribedInSection501c3Ind | 0 | 1 |
| IRS990/DisregardedEntityInd | 0 | 0 |
| IRS990/DocumentRetentionPolicyInd | 0 | 0 |
| IRS990/DonatedServicesAndUseFcltsAmt | 0 | 0 |
| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 0 |
| IRS990/EmployeeCnt | 0 | 0 |
| IRS990/EngagedInExcessBenefitTransInd | 0 | 0 |
| IRS990/ExpenseAmt | 0 | 5142 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 0 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignGrantsGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/ForeignGrantsGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | Dave Mayes |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Amy Beatty |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Luara Mortell |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 137970 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 131300 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 125483 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | Secretary/Treasurer/Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | President/Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Vice President/Director |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 1997 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedInd | 0 | 0 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | 0 |
| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 3 |
| IRS990/GrantAmt | 0 | 0 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 5142 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 3 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InitialReturnInd | 0 | X |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 5142 |
| IRS990/InterestGrp/TotalAmt | 0 | 5142 |
| IRS990/InvestmentExpenseAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5142 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 5142 |
| IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 0 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LegalDomicileStateCd | 0 | NC |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingCashInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 0 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 0 |
| IRS990/MissionDesc | 0 | The corporation is specifically organized for the purpose of promoting the general public welfare of the citizens by assisting the city in carrying out its municipal and governmental functions through the acquisition, construction, sale or lease, improvements, facilities and equipment for the use and benefit of the general public. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 0 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 59635796 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 53475253 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 235120796 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 227280253 |
| IRS990/OtherRevenueTotalAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 175485000 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 173805000 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | Amy Beatty |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 0 |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 24751 |
| IRS990/PYOtherExpensesAmt | 0 | 24751 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 0 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 24751 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 24751 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 0 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/PersonalAmt | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 5142 |
| IRS990/RoyaltiesRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | 1 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | 0 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | Wilmington Future Inc assists the City of Wilmington, NC in its municipal and governmental functions through the delivery of limited obligation bonds. Wilmington Future Inc consists of a Board of Directors (President, Vice-President, and Secretary/Treasurer) that are elected, appointed, or designated by the Board of Directors(except the initial Directors) at at a regular annual meeting. Each member of the Board of Director is an employee of the City of Wilmington, NC. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | Schedule A, Part IV, Section C, Line 1 |
| IRS990ScheduleA/MajorityDirTrstSupportedOrgInd | 0 | 0 |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 566000239 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 6 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 5142 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | City of Wilmington North Carolina |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType2Ind | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 5142 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 97500 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 3844225 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 2 | 3999825 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 3 | 18440300 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 4 | 2766613 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 5 | 12334075 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 6 | 8818464 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 7 | 2476354 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 8 | 697897 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | GF & PF - 2021 Ref LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | GF & STW - 2014A Ref LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | GF - 2015A LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 3 | CC - 2016 Ref LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 4 | GF - 2017 LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 5 | GF - 2020A & B LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 6 | GF & PF - 2020C LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 7 | GF - 2021A LOBs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 8 | GF & PF - 2021B Taxable and Ref LOBs |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 173805000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 53475253 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NOTES AND LOANS RECIVABLE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | OTHER ASSETS (INTEREST PAYMENTS DUE) |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 53475253 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 227280253 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Wilmington Future Inc assists the City of Wilmington, NC in its municipal and governmental functions through the delivery of limited obligation bonds. The LOBs are pass-through certificates, evidencing proportionate undivided interest in rights to receive certain revenues payable by the City pursuant to a tax-exempt obligation issued by the City. The LOBs delivered by Wilmington Future Inc are not tax-exempt obligations. Wilmington Future Inc does not act as "on behalf of" issuer of tax-exempt obligations or as a borrower of tax-exempt bonds proceeds under a conduit loan with a governmental issuer. Therefore, Wilmington Future Inc has responded "no" to line 24a of Part IV. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Wilmington Future Inc acts as a conduit for the City of Wilmington, Wilmington Future Inc bylaws requires keeping and filing such records as are required by the Nonprofit Corporation of North Carolina; which includes all meetings and records of all actions. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Wilmington Future Inc bylaws requires keeping and filing such records as are required by the Nonprofit Corporation of North Carolina, which includes all meetings and records of all actions. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | No policy or procedures are in place at this time for review of Form 990 by governing body |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Governing documents are available upon request made to the Director of Finance, City of Wilmington, 305 Chestnut Street, PO Box 1810, Wilmington, NC 28402. At this time, a conflict of interest policy has not been adopted by the governing board. Wilmington Future Inc has no financial transactions or account balances; therefore, it does not issue financial statements. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part IV, Line 24a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section A, Line 8a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section A, Line 8b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section B, Line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Section C, Line 19 |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 0 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | City of Wilmington North Carolina |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 566000239 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(c)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | NC |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | Local Government |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | 501(a)(3) Type II |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | PO Box 1810 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | Wilmington |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | NC |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 0 | 28402 |
| IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PaidEmployeesSharingInd | 0 | 0 |
| IRS990ScheduleR/PerformOfServicesByOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PerformOfServicesForOthOrgInd | 0 | 0 |
| IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd | 0 | 1 |
| IRS990ScheduleR/ReimbursementPaidByOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/ReimbursementPaidToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/RentalOfFcltsFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/SharingOfFacilitiesInd | 0 | 0 |
| IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt | 0 | 5142 |
| IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt | 0 | bank statements |
| IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt | 0 | City of Wilmington North Carolina |
| IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt | 0 | a-i |
| IRS990ScheduleR/TransferFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/TransferToOtherOrgInd | 0 | 0 |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 235120796 |
| IRS990/TotalAssetsEOYAmt | 0 | 227280253 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 235120796 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 227280253 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalContributionsAmt | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 5142 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 5142 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 235120796 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 227280253 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 235120796 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 227280253 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 0 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 0 |
| IRS990/TotalOtherCompensationAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcGrantAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcRevenueAmt | 0 | 0 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 5142 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 0 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 0 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5142 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 5142 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 0 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 235120796 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 227280253 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 394753 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | PO Box 1810 |
| IRS990/USAddress/CityNm | 0 | Wilmington |
| IRS990/USAddress/StateAbbreviationCd | 0 | NC |
| IRS990/USAddress/ZIPCd | 0 | 28402 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 3 |
| IRS990/VotingMembersIndependentCnt | 0 | 3 |
| IRS990/WhistleblowerPolicyInd | 0 | 0 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd | 0 | AAL2 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd | 0 | 1 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd | 0 | 11 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/ProfilePasswordChangeInd | 0 | X |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd | 0 | 0 |
| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Amy Beatty |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President/Director |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 9103417822 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2021-11-08 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | WILMINGTON FUTURE INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | WILM |
| ReturnHeader/Filer/EIN | 0 | 562050806 |
| ReturnHeader/Filer/PhoneNum | 0 | 9103417822 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | PO Box 1810 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Wilmington |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | NC |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 28402 |
| ReturnHeader/ReturnTs | 0 | 2021-11-08T09:49:33-07:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2020-07-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2021-06-30 |
| ReturnHeader/TaxYr | 0 | 2020 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $227,280,253
- Liabilities
- $227,280,253
- Net assets
- $0
- Revenue
- $5,142
- Expenses
- $5,142
- Net income
- $0