Civic Intelligence

Wheat Ridge 2020 Inc.

990 • Fiscal year 2022 • EIN 56-2550132

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 09, 2023

PO Box 346Wheat Ridge, CO 80034

(720) 259-1030

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

26th percentile

0.00x

Higher debt load relative to assets than 26% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

29th percentile

0.02x

Higher debt load relative to revenue than 29% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

57th percentile

11%

Higher net margin than 57% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

49th percentile

$54,692

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 10.7% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

51st percentile

1.5%

Faster asset growth than 51% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

-1.2%

Faster revenue growth than 38% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,726,064

Up $25,136 (+1.5%) from 2021

Net Assets

Up

$1,717,943

Up $32,534 (+1.9%) from 2021

Liabilities

Down

$8,121

Down $7,398 (-48%) from 2021

Revenue

Down

$511,850

Down $5,981 (-1.2%) from 2021

Expenses

Up

$457,341

Up $5,036 (+1.1%) from 2021

Net Income

Down

$54,509

Down $11,017 (-17%) from 2021

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,863,131Liabilities 2011: $397,528Net Assets 2011: $1,465,6032011Assets 2012: $2,126,795Liabilities 2012: $891,165Net Assets 2012: $1,235,6302012Assets 2013: $1,410,360Liabilities 2013: $116,277Net Assets 2013: $1,294,0832013Assets 2014: $1,423,835Liabilities 2014: $100,919Net Assets 2014: $1,322,9162014Assets 2015: $1,433,221Liabilities 2015: $80,761Net Assets 2015: $1,352,4602015Assets 2016: $1,516,434Liabilities 2016: $61,354Net Assets 2016: $1,455,0802016Assets 2017: $1,449,579Liabilities 2017: $28,668Net Assets 2017: $1,420,9112017Assets 2018: $1,764,855Liabilities 2018: $24,837Net Assets 2018: $1,740,0182018Assets 2019: $1,672,277Liabilities 2019: $24,086Net Assets 2019: $1,648,1912019Assets 2020: $1,644,120Liabilities 2020: $24,237Net Assets 2020: $1,619,8832020Assets 2021: $1,700,928Liabilities 2021: $15,519Net Assets 2021: $1,685,4092021Assets 2022: $1,726,064Liabilities 2022: $8,121Net Assets 2022: $1,717,9432022Assets 2023: $2,173,577Liabilities 2023: $96,339Net Assets 2023: $2,077,2382023Assets 2024: $1,965,695Liabilities 2024: $216,392Net Assets 2024: $1,749,3032024

Highlighted filing

2022

Assets$1,726,064
Liabilities$8,121
Net Assets$1,717,943

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $840,6032011Expenses 2012: $513,3972012Expenses 2013: $786,5962013Revenue 2014: $473,534Expenses 2014: $444,701Net Income 2014: $28,8332014Revenue 2015: $392,386Expenses 2015: $362,842Net Income 2015: $29,5442015Revenue 2016: $599,871Expenses 2016: $497,250Net Income 2016: $102,6212016Revenue 2017: $665,789Expenses 2017: $561,004Net Income 2017: $104,7852017Revenue 2018: $995,291Expenses 2018: $676,184Net Income 2018: $319,1072018Revenue 2019: $605,071Expenses 2019: $696,901Net Income 2019: -$91,8302019Revenue 2020: $499,304Expenses 2020: $527,612Net Income 2020: -$28,3082020Revenue 2021: $517,831Expenses 2021: $452,305Net Income 2021: $65,5262021Revenue 2022: $511,850Expenses 2022: $457,341Net Income 2022: $54,5092022Revenue 2023: $388,221Expenses 2023: $520,302Net Income 2023: -$132,0812023Revenue 2024: $677,733Expenses 2024: $896,837Net Income 2024: -$219,1042024

Highlighted filing

2022

Revenue$511,850
Expenses$457,341
Net Income$54,509
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 9, 2023
Return Version
2022v5.0
Gross Receipts
$511,850
Mission and Program Overview

Mission

Wheat ridge 2020, inc. Dba localworks advances wheat ridge, colorado, as a vibrant and sustainable community. Wheat ridge 2020, inc. Dba localworks attracts and retains stakeholder households and businesses by facilitating development and influencing regulatory and policy changes necessary to realize a vibrant and sustainable community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,549,799$1,042,429▼ $507,370
Investments in Publicly Traded Securities-$486,342-
Other Notes and Loans Receivable, Net$127,567$86,045▼ $41,522
Accounts Receivable$21,850$45,564▲ $23,714
Inventories for Sale or Use-$35,239-
Land, Buildings, and Equipment, Net$1,712$28,673▲ $26,961
Prepaid Expenses and Deferred Charges-$1,772-
Total Assets$1,700,928$1,726,064▲ $25,136
Liabilities
Accounts Payable and Accrued Expenses$15,519$8,121▼ $7,398
Total Liabilities$15,519$8,121▼ $7,398
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,685,409$1,703,636▲ $18,227
Net Assets With Donor Restrictions-$14,307-
Total Net Assets Fund Balance$1,685,409$1,717,943▲ $32,534
Total Liabilities and Net Assets / Fund Balance$1,700,928$1,726,064▲ $25,136

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$28,673$9,511$38,184
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paige PiperCurrent Executive DirectorFT$52,907$1,785$54,692
Jeremy SchwartzInterim Exec. Director (part of 2022)FT$39,529-$39,529
Kate CookeExecutive Director (part of 2022)FT$12,199$2,350$14,549

Board Members and Trustees

NameTitle
Darin HammerschmidtPresident
Tadd OverstreetVice President
Anthony Palumbo Jan to Feb 2022Board Member
Cheryl Blum GarciaBoard Member
Chris Graves Jan to Feb 2022Board Member
Dan GraeveBoard Member
David KueterBoard Member
Jeremy LauferBoard Member
Joe DemottBoard Member
Nicole KosteleckyBoard Member
Ross CarpenterBoard Member
Stephanie TaylorBoard Member
Janenne AllenSecretary
Jill GassenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$487,382
Program Service Revenue
$7,889
Investment Income
$16,579
Other Revenue
$0
All Other Contributions
$95,574
Change in Net Assets
$54,509

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art87$35,239Appraisal From Artist
Other Non Cash Contri Table1$24,400Selling Price
Total Noncash Contributions88$59,639-

Audited Revenue Reconciliation

Revenue per Audited Statements
$511,850
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-21,974
Total Revenue per Audited Statements
$489,876
Total Revenue per Form 990
$511,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$239,880
Salaries, Compensation, and Employee Benefits$217,461
Total Fundraising Expense$16,321
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$82,959$18,514$7,297$108,770
Other Salaries and Wages$66,557$14,282$5,854$86,693
Fees for Services Management$18,680$20,040-$38,720
Fees for Services Accounting-$18,455-$18,455
Payroll Taxes$11,606$2,490$1,021$15,117
Other Expenses$1,568$10,720$520$12,288
Office Expenses$1,141$10,125$451$11,717
Occupancy$7,854$1,632$714$10,200
Advertising$9,157$417-$9,574
Travel$30$4,599-$4,629
Depreciation Depletion$3,588$847-$4,435
Pension Plan Contributions$2,766$593$243$3,602
Other Employee Benefits$2,518$540$221$3,279
Fees for Services Other$89$2,280-$2,369
Insurance-$545-$545
Conferences and Meetings$12$443-$455
Information Technology-$382-$382
Fees for Services Legal-$250-$250
Total Functional Expenses$331,629$109,391$16,321$457,341

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$457,341
Total Expenses per Audited Statements$457,341
Total Expenses per Form 990$457,341
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
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
Audit committee
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, Part VI, Section A, Line 6

The organization was organized as a membership organization under the colorado statutes for not for profit organizations (title 7, article 21).

Form 990, Part VI, Section A, Line 7A

The members of the organization elect the board of directors.

Form 990, Part VI, Section B, Line 11B

The board of directors reviews the form 990 prior to filing to ensure all information contained in the form is correct with respect to the organization.

Form 990, Part VI, Section B, Line 12C

The board reviews compliance with the conflict of interest policies on a on periodic basis.

Form 990, Part VI, Section B, Line 15

The executive committee determines compensation by reviewing the employees performance and considers the budgetary requirements for the year in which the compensation will effect. They also consider annual cost of living adjustments, economic conditions and competitive conditions to determine salary budget increases.

Form 990, Part VI, Section C, Line 19

Articles of incorporation and bylaws are available on the organization's website. Other documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Wheat Ridge 2020 Inc
EIN
56-2550132
Phone
7202591030
Address
PO BOX 346, WHEAT RIDGE, CO 80034
Doing Business As
Localworks

Signing Officer

Name
Tadd Overstreet
Title
Board President
Phone
7206130088
Signed
2023-08-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tadd Overstreet
Formed
2005
Legal Domicile
Co
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
250

Preparer

Firm
Watson Coon Ryan LLC
Address
6025 SOUTH QUEBEC STREET SUITE 260, CENTENNIAL, CO 80111
Preparer
Jeremy J Ryan
Phone
3037923020
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING -2.

Form 990, Part XII, Line 2C

The process of the oversight of the audit of its financial statements and selection of an independent accountant has not changed from prior years.

Financial Statement Notes

PART X, LINE 2:

Localworks was organized pursuant to the colorado nonprofit corporation act in 2005 and is a membership organization operated under the colorado statutes for not for profit organizations(title 7, article 21). Localworks is exempt from income taxes under section 501(c)(3) of the internal revenue code. Income from certain activities not directly related to the tax-exempt purpose of localworks could be subject to taxation as unrelated business income. Localworks had no unrelated business taxable income for the years ended december 31, 2022 and 2021. Localworks believes 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/Desc0SPECIAL EVENTS, BUSINESS PROMOTION, BUSINESS STABILITYLOCALWORKS HAS ENJOYED EXPLORING NEW PARTNERSHIPS WITH THE WHEAT RIDGE CHAMBER OF COMMERCE, WHEAT RIDGE BUSINESS ASSOCIATION AND THE WHEAT RIDGE BUSINESS DISTRICT. LOCALWORKS BROUGHT ALL THREE ORGANIZATIONS TOGETHER TO BENEFIT WHEAT RIDGE BUSINESSES AND HOSTED OUR FIRST NEWS AND NETWORKING EVENT, EDUCATING BUSINESSES ON THE AVAILABLE NEW ENTERPRISE ZONES IN WHEAT RIDGE. LOCALWORKS ALSO HELD THREE LARGE COMMUNITY EVENTS IN 2022, RIDGEFEST TRUNK OR TREAT AND HOLIDAY CELEBRATION. THESE EVENTS HAD A NEW SPIRIT OF ATTRACTING FOLKS DOWN THE 38TH AVE. CORRIDOR TO INCREASE ECONOMIC DEVELOPMENT IN OUR COMMUNITY.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CURRENT EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DIRECTOR (PART OF 2022)
IRS990/Form990PartVIISectionAGrp/TitleTxt16INTERIM EXEC. DIRECTOR (PART OF 2022)
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0WHEAT RIDGE 2020, INC. DBA LOCALWORKS ADVANCES WHEAT RIDGE, COLORADO, AS A VIBRANT AND SUSTAINABLE COMMUNITY. WHEAT RIDGE 2020, INC. DBA LOCALWORKS ATTRACTS AND RETAINS STAKEHOLDER HOUSEHOLDS AND BUSINESSES BY FACILITATING DEVELOPMENT AND INFLUENCING REGULATORY AND POLICY CHANGES NECESSARY TO REALIZE A VIBRANT AND SUSTAINABLE COMMUNITY.
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IRS990/OtherExpensesGrp/Desc0COMMUNITY EVENT VENUE,
IRS990/OtherExpensesGrp/Desc1MAKERSPACE SUPPLIES AND
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02015
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1222
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IRS990/OtherExpensesGrp/ProgramServicesAmt114930
IRS990/OtherExpensesGrp/ProgramServicesAmt21568
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IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01021
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02490
IRS990/PayrollTaxesGrp/ProgramServicesAmt011606
IRS990/PayrollTaxesGrp/TotalAmt015117
IRS990/PensionPlanContributionsGrp/FundraisingAmt0243
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0593
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IRS990/PoliticalCampaignActyInd00
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IRS990/ProgSrvcAccomActy2Grp/Desc0COMMUNITY ENGAGEMENT, PROMOTION OF VOLUNTEERISM AND CLEANER COMMUNITIESLOCALWORKS PARTICIPATED IN FOUR TLC CLEAN UP DAYS IN 2022, COLLECTING OVER 1100 CUBIC YARDS OF WASTE, MAKING WHEAT RIDGE A MORE VIBRANT AND SUSTAINABLE PLACE TO LIVE AND WORK. LOCALWORKS ALSO PROVIDED INDIVIDUAL DUMPSTER GRANTS TO NEIGHBORHOODS. IN THE SAME SPIRIT, LOCALWORKS GAVE 11 BLOCK PARTY GRANTS TO ENCOURAGE NEIGHBORHOOD CONNECTION. LOCALWORKS ALSO HELD A SERIES OF OVER 10 LIVE LOCAL AND THRIVE LOCAL EVENTS, GETTING RESIDENTS INSIDE OF BUSINESSES TO SHOP LOCAL AND LEARN LOCAL. THESE EVENTS IMPACTED OVER 270 RESIDENTS IN 2022.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt043661
IRS990/ProgSrvcAccomActy3Grp/Desc0MAKERSPACELOCALWORKS GREW DEVELOPMENT OF THE MAKERSPACE IN 2022. GROWTH INCLUDED A LAUNCH OF THE NAME, CLEAR CREEK MAKERSPACE AND STEPS TO ACQUIRE A NEW SPACE. LOCALWORKS ALSO CREATED A MEMBERSHIP WAITING LIST AND A NEW POSITION WITHIN LOCALWORKS TO FOCUS ON CLEAR CREEK MAKERSPACE TO INCREASE DEVELOPMENT OF THE PROJECT. LOCALWORKS HELD SEVERAL MEETUP GROUPS FOR LOCAL MAKERS AND RECEIVED IN-KIND DONATIONS IN EQUIPMENT TO CONTINUE TO PREP THE SPACE.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt012383
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAMS TO SUPPORT THE MISSION TO SUPPORT EFFORTS TO HELP LOCAL CITY OF WHEAT RIDGE BUSINESSES THRIVE, IMPROVE THE CITY AND THE CITIZENS' QUALITY OF LIFE.
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IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990ScheduleD/EquipmentGrp/BookValueAmt028673
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09511

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.97$0.22$1.75$0.68$0.90$0.22
2023Detailed filing. Detailed filing data is available for this year.$2.17$0.10$2.08$0.39$0.52$0.13
2022Detailed filing. Detailed filing data is available for this year.$1.73$0.01$1.72$0.51$0.46$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.70$0.02$1.69$0.52$0.45$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.64$0.02$1.62$0.50$0.53$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.67$0.02$1.65$0.61$0.70$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.76$0.02$1.74$1.00$0.68$0.32
2017Detailed filing. Detailed filing data is available for this year.$1.45$0.03$1.42$0.67$0.56$0.10
2016Detailed filing. Detailed filing data is available for this year.$1.52$0.06$1.46$0.60$0.50$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.43$0.08$1.35$0.39$0.36$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.42$0.10$1.32$0.47$0.44$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.41$0.12$1.29$0.79
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$0.89$1.24$0.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.86$0.40$1.47$0.84
Peer Organizations

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