Wake Enterprises Inc
- Assets
- $4.2m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 01/1981
- Data as of
- 06/2021
- EIN
- 56-1248778
Organization Overview
Wake Enterprises Inc is located in Raleigh, NC. The organization was established in 1981. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Enterprises Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Wake Enterprises Inc generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WAKE ENTERPRISE, INC.'S MISSION IS TO ASSIST PEOPLE WITH DISABILITIES TO ACHIEVE THEIR MAXIMUM LEVEL OF INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ADULTS WITH DEVELOPMENTAL DISABILITIES VOCATIONAL OR SOCIAL OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Oshana Watkins President | OfficerTrustee | 40 | $96,902 |
Lorrie Gregg Hargreaves Second Vice Chair | OfficerTrustee | 1 | $0 |
Jennifer Gassen Secretary N/v | OfficerTrustee | 1 | $0 |
Joe Leone Treasurer N/v | OfficerTrustee | 1 | $0 |
Deborah Holt Noel Chairperson | OfficerTrustee | 1 | $0 |
Wyatt Buckingham Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $388,716 |
| All other contributions, gifts, grants, and similar amounts not included above | $86,265 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $474,981 |
| Total Program Service Revenue | $1,742,456 |
| Investment income | $10,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $528,635 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,774,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $286,988 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,135,343 |
| Advertising and promotion | $16,336 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,979 |
| Travel | $53,429 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $97,901 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,838 |
| Insurance | $34,520 |
| All other expenses | $0 |
| Total functional expenses | $2,094,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $370,665 |
| Savings and temporary cash investments | $434,133 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $197,478 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,572 |
| Net Land, buildings, and equipment | $2,545,741 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $623,896 |
| Total assets | $4,174,485 |
| Accounts payable and accrued expenses | $17,945 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $696,369 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,036 |
| Total liabilities | $767,350 |
| Net assets without donor restrictions | $3,407,135 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,174,485 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wake Enterprises Inc has recieved totaling $10,093.
| Awarding Organization | Amount |
|---|---|
Stewards Fund Clinton, NC PURPOSE: GRANT FOR GENERAL OPERATING SUPPORT IN MEMORY OF CHARLES F. BLANCHARD | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $93 |
Endowment Analysis
| Beg. Balance | $38,513 |
| Earnings | $11,892 |
| Ending Balance | $50,405 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobby Dodd Institute Inc Atlanta, GA | $15,439,617 | $18,957,191 |
Community Alternatives Incorporated Norfolk, VA | $5,227,014 | $13,773,753 |
Eastern Carolina Vocational Center Inc Greenville, NC | $26,970,682 | $10,804,799 |
Portco Inc Suffolk, VA | $2,077,717 | $9,434,318 |
Park Center Nashville, TN | $31,811,535 | $21,739,362 |
Johnston County Industries Inc Selma, NC | $6,782,486 | $8,118,141 |
Steps Inc Farmville, VA | $3,388,656 | $7,256,385 |
Durham Exchange Club Industries Inc Durham, NC | $24,396,757 | $5,688,631 |
Nw Works Inc Winchester, VA | $4,880,956 | $5,477,841 |
Every Citizen Has Opportunities Inc Leesburg, VA | $4,562,432 | $6,133,227 |
Easter Seals West Georgia Inc Columbus, GA | $14,019,285 | $4,649,150 |
Manufacturing Skill Standards Council Alexandria, VA | $1,590,941 | $4,396,856 |