Civic Intelligence

Boston-Thurmond Innovation Network

EIN 82-4578409 • 501(c)3 • Winston Salem, NC

Profile

To facilitate and support the vision of Boston-Thurmond residents for a strong and economically viable neighborhood that is fully integrated into the broader Winston-Salem community. The Network helps implement an intertwined approach to community revitalization, consistent with the Purpose Built Communities model

PO Box 961Winston Salem, NC 27102

bostonthurmondunited.org

Siviq Scores

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

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

28th percentile

0.01x

Higher debt load relative to revenue than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

88th percentile

47%

Higher net margin than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

95th percentile

101%

Faster asset growth than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

127%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,148,765

Up $151,229 (+15%) from 2023

Liabilities

Up

$136,221

Up $126,825 (+1350%) from 2023

Net Assets

Up

$1,012,544

Up $24,404 (+2.5%) from 2023

Revenue

Down

$986,969

Down $84,224 (-7.9%) from 2023

Expenses

Up

$962,565

Up $396,313 (+70%) from 2023

Net Income

Down

$24,404

Down $480,537 (-95%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2021: $226,541Liabilities 2021: $1,220Net Assets 2021: $225,3212021Assets 2022: $496,969Liabilities 2022: $13,770Net Assets 2022: $483,1992022Assets 2023: $997,536Liabilities 2023: $9,396Net Assets 2023: $988,1402023Assets 2024: $1,148,765Liabilities 2024: $136,221Net Assets 2024: $1,012,5442024

Highlighted filing

2024

Assets$1,148,765
Liabilities$136,221
Net Assets$1,012,544

Operations Trend

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

$1.5M$1.0M$500K$0Revenue 2021: $176,651Expenses 2021: $25,176Net Income 2021: $151,4752021Revenue 2022: $472,256Expenses 2022: $214,378Net Income 2022: $257,8782022Revenue 2023: $1,071,193Expenses 2023: $566,252Net Income 2023: $504,9412023Revenue 2024: $986,969Expenses 2024: $962,565Net Income 2024: $24,4042024

Highlighted filing

2024

Revenue$986,969
Expenses$962,565
Net Income$24,404

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 9, 2025
Return Version
2023v6.0
Gross Receipts
$986,969
Mission and Program Overview

Mission

To facilitate and support the vision of Boston-Thurmond residents for a strong and economically viable neighborhood that is fully integrated into the broader Winston-Salem community. The Network helps implement an intertwined approach to community revitalization, consistent with the Purpose Built Communities model

To facilitate and support the vision of Boston-Thurmond residents for a strong and economically viable neighborhood that is fully integrated into the broader Winston-Salem community,.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$879,585$581,902▼ $297,683
Land, Buildings, and Equipment, Net$18,556$404,280▲ $385,724
Savings and Temporary Cash Investments-$162,583-
Pledges and Grants Receivable$96,588--
Accounts Receivable$2,807--
Total Assets$997,536$1,148,765▲ $151,229
Liabilities
Accounts Payable and Accrued Expenses$9,396$136,221▲ $126,825
Total Liabilities$9,396$136,221▲ $126,825
Net Assets / Fund Balance
Net Assets With Donor Restrictions$488,627$521,342▲ $32,715
Net Assets Without Donor Restrictions$499,513$491,202▼ $8,311
Total Net Assets Fund Balance$988,140$1,012,544▲ $24,404
Total Liabilities and Net Assets / Fund Balance$997,536$1,148,765▲ $151,229

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$304,176-$304,176
Equipment$100,104$16,846$116,950
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Regina HallExecutive DirectorFT$18,800$18,800

Board Members and Trustees

NameTitle
Anna ReillyChair
Claire TuttleBoard Member
David WestBoard Member
Donald FlowBoard Member
Dothula BaronBoard Member
Dr Julia Jackson-NewsomBoard Member
Dr Pamela OliverBoard Member
Dr Susan WenteBoard Member
Dr Thomas KoontzBoard Member
Eric MartinBoard Member
Mark TonnesenBoard Member
Ola BrownBoard Member
Pat CaldwellBoard Member
Paula WilkinsBoard Member
Zina JohnsonBoard Member
Doug SmithTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Third Sector New England IncProgram Mgmt Design89 South Street Ste 700, Boston, MA 02111-2670$183,488
Revenue and Support

Revenue Composition

Contributions and Grants
$978,906
Program Service Revenue
$0
Investment Income
$7,883
Other Revenue
$180
All Other Contributions
$568,226
Change in Net Assets
$24,404

Audited Revenue Reconciliation

Revenue per Audited Statements
$986,969
Revenue Not Reported on Form 990
$121,260
Total Revenue per Audited Statements
$1,108,229
Total Revenue per Form 990
$986,969
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$803,725
Salaries, Compensation, and Employee Benefits$157,340
Grants and Similar Amounts Paid$1,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$504,907$9,912-$514,819
Current Officers, Directors, Trustees, and Key Employees$69,607$5,334-$74,941
Other Salaries and Wages$71,569--$71,569
Travel$469$29,700-$30,169
All Other Expenses$9,865$16,469-$26,334
Advertising$24,675$840-$25,515
Fees for Services Accounting-$23,322-$23,322
Fees for Services Legal$18,641--$18,641
Depreciation Depletion$8,354$8,353-$16,707
Office Expenses$2,866$12,046-$14,912
Occupancy$4,000$9,180-$13,180
Insurance$5,804$5,804-$11,608
Payroll Taxes$9,801$1,029-$10,830
Other Expenses$2,493$262-$2,755
Grants to Domestic Individuals$1,500--$1,500
Total Functional Expenses$839,119$123,446$0$962,565

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,083,825
Expenses per Audited Statements$962,565
Total Expenses per Form 990$962,565
Expenses Not Reported on Form 990$121,260
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section C, Line 19

Documents are provided electroncially or in hard copy upon request.

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

A draft of the return is shared with the BTCN Finance Committee and the completed version is shared with the Board during a monthly Board meeting.

Filing and Contact Details

Filer

Filer Name
Boston-Thurmond Innovation Network
EIN
82-4578409
Phone
3367696253
Address
PO Box 961, Winston Salem, NC 27102
Doing Business As
Boston Thurmond Community Network

Signing Officer

Name
Regina Hall
Title
Executive Director
Phone
3367696253
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Regina Hall
Formed
2017
Legal Domicile
Nc
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
16

Preparer

Firm
Outfitters4 Inc
Address
717 Coliseum Dr NW, Winston Salem, NC 27106
Preparer
Brittany Emery
Phone
8889299499
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The oversight and selection process for the audit has not changed from the prior year.

Form 990, Part IX, Line 11G

Birth Outcomes Contract Labor- Program 351,472 Land Use Study- Program 50,000 Safe Home Repair Contract Labor- Program 26,050 Contract Staffing- Program 70,175 Other Contract Labor- Program 7,210, Management and General 9,912

Financial Statement Notes

X 2

The Organization has received a determination from the U.S. Treasury Department stating that it qualifies under the provisions of Section 501c3 of the Internal Revenue Code as a tax-exempt organization. Accordingly, no accounting for federal or state income taxes is required in the accompanying financial statements. The Organization recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50 likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded. Boston-Thurmond Community Network has examined this issue and has determined there are no material contingent tax liabilities at June 30, 2024 and 2023. The Organization files the required federal and state information returns. Whenever tax returns are filed, the filing organization must evaluate the merits of its tax positions and determine if they will be ultimately sustained. Those tax positions for the organization include maintaining their tax-exempt status and the taxability of any unrelated business income. The Organization believes these positions are sustainable. Although the Organization has not incurred any interest and penalties associated with these positions, it is their policy to expense them in the statement of activities. With few exceptions, the Organization is generally no longer subject to examination by taxing authorities for years before June 30, 2021.

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IRS990/MissionDesc0To facilitate and support the vision of Boston-Thurmond residents for a strong and economically viable neighborhood that is fully integrated into the broader Winston-Salem community. The Network helps implement an intertwined approach to community revitalization, consistent with the Purpose Built Communities model.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization has received a determination from the U.S. Treasury Department stating that it qualifies under the provisions of Section 501c3 of the Internal Revenue Code as a tax-exempt organization. Accordingly, no accounting for federal or state income taxes is required in the accompanying financial statements. The Organization recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50 likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded. Boston-Thurmond Community Network has examined this issue and has determined there are no material contingent tax liabilities at June 30, 2024 and 2023. The Organization files the required federal and state information returns. Whenever tax returns are filed, the filing organization must evaluate the merits of its tax positions and determine if they will be ultimately sustained. Those tax positions for the organization include maintaining their tax-exempt status and the taxability of any unrelated business income. The Organization believes these positions are sustainable. Although the Organization has not incurred any interest and penalties associated with these positions, it is their policy to expense them in the statement of activities. With few exceptions, the Organization is generally no longer subject to examination by taxing authorities for years before June 30, 2021.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Documents are provided electroncially or in hard copy upon request.

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