Wheat Ridge 2020 Inc
- Assets
- $2.2m
- Revenue
- $388.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Wheat Ridge, CO
- Founding
- 03/2008
- Data as of
- 12/2023
- EIN
- 56-2550132
Organization Overview
Wheat Ridge 2020 Inc, operating under the name Localworks, is located in Wheat Ridge, CO. The organization was established in 2008. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Localworks employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Localworks 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 12/2023, Localworks generated $388.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $520.3k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WHEAT RIDGE 2020, INC. DBA LOCALWORKS ADVANCES WHEAT RIDGE, COLORADO, AS A VIBRANT AND SUSTAINABLE COMMUNITY. LOCALWORKS FOCUSES ON PROVIDING PROGRAMS AND RESOURCES THAT ENHANCE ECONOMIC DEVELOPMENT, NEIGHBORHOOD REVITALIZATION, CIVIC ENGAGEMENT AND ARTS AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL EVENTS, BUSINESS PROMOTION, BUSINESS STABILITYDESCRIPTION: LOCALWORKS PROVIDED TWO LARGE COMMUNITY EVENTS, GOLD'S MARKETPLACE BUSINESS BLOCK PARTY AND RIDGEFEST. BOTH EVENTS PROVIDED THE COMMUNITY WITH FOOD, DRINKS, GAMES AND ACTIVITIES, WHILE PROMOTING LOCAL BUSINESS. LOCALWORKS ALSO PROVIDED $68,600 IN BUILDING UP BUSINESS LOANS, SUPPORTING LOCAL WHEAT RIDGE BUSINESSES WITH BOTH BRICK AND MORTAR IMPROVEMENTS AND INTERNAL PROCESSING IMPROVEMENTS. LOCALWORKS HOSTED AN ANNUAL FUNDRAISING EVENT, A GOLF TOURNAMENT IN SEPTEMBER. $11,097 WAS RAISED IN SUPPORT OF LOCALWORKS' MISSION.
COMMUNITY ENGAGEMENT, PROMOTION OF VOLUNTEERISM AND CLEANER COMMUNITIESDESCRIPTION: LOCALWORKS PROVIDES BLOCK PARTY GRANTS, TLC CLEAN UP DAYS, NEIGHBORHOOD DUMPSTER GRANTS AND MOVIES IN THE PARK TO PROMOTE COMMUNITY, ENGAGEMENT, VOLUNTEERISM, WHILE PROMOTING CLEANER AND SAFER COMMUNITIES. THERE WERE 15 NEIGHBORHOOD DUMPSTER GRANTS THAT NEIGHBORS GATHERED AND FILLED DUMPSTERS WITH DEBRIS AND JUNK, COMING TOGETHER AND BEAUTIFYING THEIR NEIGHBORHOOD. THERE WERE FOUR TLC DUMPSTER DAYS IN PARTNERSHIP WITH THE CITY OF WHEAT RIDGE POLICE DEPARTMENT, 15 BLOCK PARTY GRANTS UP TO $150 EACH TO PROMOTE NEIGHBORS TO GATHER TOGETHER TO BETTER RETAIN RESIDENTS IN THE CITY OF WHEAT RIDGE. LOCALWORKS ALSO HOSTED 9 LIVE LOCAL EVENTS, GETTING RESIDENTS INSIDE OF LOCAL BUSINESSES TO SHOP AND LIVE LOCAL.
MAKERSPACEDESCRIPTION: LOCALWORKS LEASED A 7500 SQ FT BUILDING FOR THIS PROJECT IN APRIL 2023. LOCALWORKS ENGAGED WORK WITH AN ARCHITECTURE FIRM TO DESIGN THE PROJECT, A GENERAL CONTRACTOR WAS SELECTED AND RENOVATION FOR CLEAR CREEK MAKERSPACE BEGAN IN DECEMBER 2023. CCM ESTABLISHED AN ADVISORY BOARD TO ASSIST IN GOVERNANCE OF PROGRAMMING AND EQUIPMENT PURCHASES. A CCM DEVELOPMENT AND PROGRAM MANAGER WAS HIRED IN AUGUST OF 2023 TO MANAGE THE PROGRAM WITH THE INTENT TO OPEN IN Q1 OF 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paige Piper Executive Director | Officer | 40 | $101,265 |
Darin Hammerschmidt Board Member | Trustee | 0.25 | $0 |
Cheryl Blum Garcia Board Member | Trustee | 0.25 | $0 |
Ross Carpenter Board Member | Trustee | 1.25 | $0 |
Joe Demott Board Member | Trustee | 0.25 | $0 |
Dan Graeve Board Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $261,436 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,096 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $332,532 |
| Total Program Service Revenue | $33,510 |
| Investment income | $38,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,228 |
| Net Income from Fundraising Events | -$373 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $388,221 |
| 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. | $103,530 |
| Compensation of current officers, directors, key employees. | $24,911 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,509 |
| Pension plan accruals and contributions | $1,149 |
| Other employee benefits | $8,420 |
| Payroll taxes | $17,862 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,285 |
| Fees for services: Accounting | $19,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,388 |
| Advertising and promotion | $7,720 |
| Office expenses | $16,316 |
| Information technology | $200 |
| Royalties | $0 |
| Occupancy | $13,305 |
| Travel | $1,747 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,213 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,060 |
| Insurance | $11,865 |
| All other expenses | $0 |
| Total functional expenses | $520,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,967 |
| Savings and temporary cash investments | $796,499 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $474,596 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $154,663 |
| Inventories for sale or use | $35,239 |
| Prepaid expenses and deferred charges | $3,324 |
| Net Land, buildings, and equipment | $153,095 |
| Investments—publicly traded securities | $382,194 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,173,577 |
| Accounts payable and accrued expenses | $96,339 |
| 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 | $0 |
| Total liabilities | $96,339 |
| Net assets without donor restrictions | $1,606,598 |
| Net assets with donor restrictions | $470,640 |
| 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 | $2,173,577 |