Flywheel Foundation EIN 47-3707235 Form 990 (PDF) Claim this org

Flywheel Foundation FY2021 filing

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Fosters entrepreneurship through research, ecosystem building, education, and investment. For fiscal year 2021 it reported $263K in revenue, $289K in expenses, and $90K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Winston Salem, NC
Website
www.flywheelcoworking.com/flywheel-foundation
Filings
5 on file (2020–2021)
Revenue
$263KFY2021
Expenses
$289K
Net assets
$90K
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-3707235 Public charity (501(c)(3)) Winston Salem, NC
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Fosters entrepreneurship through research, ecosystem building, education, and investment.
Leadership
Adrian Smith · Executive Di · $69K
Money in and out
$263K revenue, $289K expenses
Bottom line
59% program efficiency
Where the money goes · FY2021
Total revenue
$263K
Pt VIII · Ln 12
Total expenses
$289K
Pt IX · Ln 25
Net assets
$90K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$25K
Where spending went · Part IX cols B–D
Program services $0.59 Management & general $0.41
Program efficiency
59%
of spending reaches programs
Operating runway
3.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-10%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$263K
FY2021▲ +58%
Expenses
$289K
FY2021
Total assets
$102K
FY2021
Total liabilities
$12K
FY2021
Total revenue
$263K
Pt VIII · Ln 12
Total expenses
$289K
Pt IX · Ln 25
Net assets
$90K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$25K
Total assetsPt X · Ln 16$102K
Program-expense ratioPt IX · col B59%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 411

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFlywheel Foundation
EINHdr · item D47-3707235
Principal addressHdr · item CWinston Salem, NC
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P80)
Ruling yearIRS BMFDec 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Di
$69,458Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jill Atherton’s $70K as Executive Di is at the 61st percentile of top reported officer pay among 2165 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jill Atherton$70,000$67,083$52,500
Adrian Smith$69,458$24,525

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $172K of program spending, described in the organization's own filed words · FY2021.
01

Technical services- one on one technical services including developing financial projections, pitch decks, and marketing plans. Flywheel courses learning management system- development of courses offered to entrepreneurs. Grants were issued to support new business starts and to help businesses affected by covid.

$172Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$238K · 90%
Program service revenue$25K · 10%
Contributions & grants90%$238K
Program service revenue10%$25K
Total revenueLn 12$263K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.59 Management & general $0.41
Program services59%$172K
Management & general41%$117K
Total functional expensesLn 25$289K

Balance Sheet

Part X · end of year
CashLn 1$92K
Total assetsLn 16$102K
Total liabilitiesLn 26$12K
Total net assetsLn 32$90K
Months of cash on handcomputed3.8

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $92K · Operating expenses/yr $289K
3.8 months
Where the money goes
Program services
Program services $172K · Total expenses $289K
59%
Management & General
Management & general $117K · Total expenses $289K
41%
Fundraising
Fundraising $0 · Total expenses $289K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $238K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $238K · Total revenue $263K
90%
Government reliance
Government grants — · Total revenue $263K
Earned-income share
Program service revenue $25K · Total revenue $263K
10%
Investment reliance
Investment income $0 · Total revenue $263K
0%
Program self-sufficiency
Program service revenue $25K · Total expenses $289K
9%
Growth & trend
Revenue growth (YoY)
This year $263K · Prior year $167K
+58%
Net-asset trend (YoY)
End of year $90K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $263K · Expenses $289K
-10%
Liabilities-to-Assets
Total liabilities — · Total assets $102K
Net-asset ratio
Net assets $90K · Total assets $102K
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $102K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Adrian Smith · Reported title EXECUTIVE DI · Highest reported compensation $69K · Total expenses $289K
24%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $88K · Total expenses $289K
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 59%
Overhead ratio 41%
Fundraising cost ratio 0%
Revenue growth 58%
Accounting fee ratio 0.3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$31K
Grants paid · 11 grants · $285K · 2021–2024
House Call Services LLCFY2024$17,000
Grapefruit Health INCFY2024$17,000
Digital Health Navigation SolutionsFY2024$17,000
Co Payne-Haynes INC LLCFY2024$17,000
Akalaka CoFY2024$17,000
Felk After-School LLCFY2023$20,000
Careyaya Health Technologies INCFY2023$20,000
Zabs PlaceNC · FY2023$20,000
Clinispan Health INCFY2023$20,000
Nutrible INCFY2023$20,000
Flywheel LLCFY2021$100,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$358K revenue · ⤓ 990 PDF
FY2023$499K revenue · ⤓ 990 PDF
FY2022$322K revenue · ⤓ 990 PDF
FY2021$263K revenue · viewing · ⤓ 990 PDF
FY2020$167K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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