Wilmington Future Inc
- Assets
- $210.7m
- Revenue
- $7.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Wilmington, NC
- Founding
- 05/1998
- Data as of
- 06/2022
- EIN
- 56-2050806
Organization Overview
Wilmington Future Inc is located in Wilmington, NC. The organization was established in 1998. According to its NTEE Classification (W11) the organization is classified as: Single Organization Support, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wilmington Future 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 06/2022, Wilmington Future Inc generated $7.4k in total revenue. All expenses for the organization totaled $7.4k during the year ending 06/2022. While expenses have increased by 92.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Beatty President/director | Trustee | 0 | $0 |
Laura Mortell Vice President/director | Trustee | 0 | $0 |
Dave Mayes Secretary/treasurer/director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $7,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,436 |
| 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 | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,436 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $163,400,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,268,958 |
| Total assets | $210,668,958 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $210,668,958 |
| Total liabilities | $210,668,958 |
| Net assets without donor restrictions | $0 |
| 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 | $210,668,958 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
America 250 Foundation Alexandria, VA | $4,731,218 | $9,181,491 |
Orange County Public Facilities Co Hillsborough, NC | $15,500,213 | $5,902,613 |
Clt Host 2020 Inc Charlotte, NC | $2,898,616 | $594,290 |
Sovsc Bluffton, SC | $4,346,521 | $548,463 |
Palmetto State Growth Fund Inc Columbia, SC | $19,870,017 | $877,649 |
Heart For Greenville Greenville, NC | $75,085 | $0 |
Air Force Officers Spouses Club Of Washington Dc Welfare Fund Fort Meyer, VA | $37,526 | $0 |
Blight Authority Of Memphis Inc Memphis, TN | $665,354 | $170,737 |
Clement Volunteer Fire Department Inc Autryville, NC | $121,676 | $253,061 |
Sc State Guard Mission & Operations Support Foundation Inc Mt Pleasant, SC | $122,240 | $0 |
North Carolina Industrial Hemp Association Inc Asheville, NC | $0 | $0 |
Achasta Veterans Association Inc Dahlonega, GA | $326 | $0 |