Winston Starts
- Assets
- $2.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Winstonsalem, NC
- Founding
- 09/2017
- Data as of
- 12/2021
- EIN
- 82-1573081
Organization Overview
Winston Starts is located in Winstonsalem, NC. The organization was established in 2017. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Winston Starts employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Winston Starts 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 12/2021, Winston Starts generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 32.0% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO DRIVE THE FUTURE ECONOMIC HEALTH OF WINSTON-SALEM, TRIAD AND NORTH CAROLINA BY: PROVIDING INTENSE, INSPIRING, AND DURATION-APPROPRIATE SUPPORT FOR STARTUPS WITH NATIONALLY SCALABLE BUSINESS MODELS. COLLABORATING WITH OTHER STARTUP SUPPORT ENTERPRISES ACROSS THE TRIAD AND THE STATE TO DEVELOP A COORDINATED TRELLIS OF STARTUP SUPPORT. PROMOTING A CULTURE OF ENTREPRENEURSHIP AND INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING OFFICE SPACE TO START UP COMPANIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Boles President | Officer | 40 | $105,000 |
Elizabeth Brown Vice President | Officer | 40 | $99,500 |
John C Whitaker Jr Director | Trustee | 1 | $0 |
Todd Johnson Director | Trustee | 1 | $0 |
Donald E Flow Director | Trustee | 1 | $0 |
Steven A Lineberger Former President | Trustee | 1 | $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 | $1,424,494 |
| Noncash contributions included in lines 1a–1f | $484,584 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,424,494 |
| Total Program Service Revenue | $122,899 |
| Investment income | $11 |
| 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 | $1,547,404 |
| 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. | $105,000 |
| Compensation of current officers, directors, key employees. | $52,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $148,133 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,365 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $2,488 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,526 |
| Advertising and promotion | $22,688 |
| Office expenses | $0 |
| Information technology | $34,303 |
| Royalties | $0 |
| Occupancy | $735,019 |
| Travel | $1,058 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,537 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $99,063 |
| Insurance | $3,286 |
| All other expenses | $2,078 |
| Total functional expenses | $1,275,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,832 |
| Savings and temporary cash investments | $271,478 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,784 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,581,812 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $94,657 |
| Other assets | $0 |
| Total assets | $2,039,563 |
| Accounts payable and accrued expenses | $68,854 |
| 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 | $89,223 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $158,077 |
| 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 | $1,881,486 |
| Total liabilities and net assets/fund balances | $2,039,563 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Winston Starts has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Millennium Fund Winstonsalem, NC PURPOSE: GENERAL SUPPORT FOR START-UP BUSINESS RECRUITMENT | $60,000 |
North Carolina Baptist Hospital Winstonsalem, NC PURPOSE: SUPPORTING PROGRAM TO HELP ENTREPRENEURIAL COMMUNITY IN WINSTON-SALEM | $10,000 |
Twin City Development Foundation Winstonsalem, NC PURPOSE: ECONOMIC DEVELOPMENT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Carolina Manufacturing Extension Partnership Greenville, SC | $4,506,207 | $8,798,009 |
Norfolk State University Research And Innovation Foundation Norfolk, VA | $25,278,732 | $5,808,933 |
Black Girl Ventures Foundation Fort Belvoir, VA | $2,941,094 | $3,288,394 |
Brightbridge Inc Chattanooga, TN | $120,622,501 | $3,473,186 |
National Institute Of Minority Economic Development Durham, NC | $8,985,701 | $1,722,745 |
Winston Starts Winstonsalem, NC | $2,039,563 | $1,547,404 |
Wilmington Business Development Wilmington, NC | $1,640,676 | $1,342,071 |
Carolinas-Virginia Minority Supplier Developoment Councils Inc Charlotte, NC | $1,397,364 | $1,303,584 |
Provident Business Financial Services Inc West Columbia, SC | $539,066 | $980,704 |
Nussbaum Center For Entrepreneurship Inc Greensboro, NC | $5,252,016 | $1,124,383 |
Startup Virginia Richmond, VA | $1,761,356 | $941,595 |
Piedmont Business Capital Greensboro, NC | $3,626,382 | $1,839,047 |