Nonprofit · EIN 20-0177581
WAKE FOREST INNOVATION QUARTER CDC
Tax-exempt · WINSTONSALEM, NC 27157
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $75,175 | $12,065 | $63,110 | $30,481,776 | $262,500 | $30,219,276 |
| December 31, 2023 | 990 | $75,240 | $10,771 | $64,469 | $30,493,666 | $337,500 | $30,156,166 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $175
- Net rental income
- $75,000
- Other revenue
- $75,000
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $240
- Occupancy
- $11,825
- Program services (functional)
- $12,065
Balance sheet and other
- Total assets, start of year
- $30,493,666
- Total assets, end of year
- $30,481,776
- Total liabilities, end of year
- $262,500
- Net assets, end of year
- $30,219,276
- Net assets without donor restrictions
- $30,219,276
- Gross receipts
- $75,175
- Employees
- 0
- Volunteers
- 5
- Year formed
- 2003
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| J MCLAIN WALLACE JR | DIRECTOR, VP & TREASURER Trustee or director, Officer | 2 | $1,659,102 | $0 | $30,227 |
| SUSAN R WENTE PHD | DIRECTOR & CHAIR Trustee or director, Officer | 1 | $0 | $1,229,582 | $363,435 |
| TERRY L HALES JR | DIRECTOR & PRESIDENT Trustee or director, Officer | 2 | $0 | $1,310,800 | $52,534 |
| J REID MORGAN | FORMER OFFICER Former | 0 | $0 | $412,282 | $57,418 |
| C DOUGLAS MAYNARD MD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ALLEN JOINES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| SUSAN R WENTE PHD | DIRECTOR & CHAIR Trustee or director, Officer | 1 | $0 | $1,473,696 | $325,680 |
| J MCLAIN WALLACE JR | DIRECTOR, VP & TREASURER Trustee or director, Officer | 2 | $983,574 | $0 | $35,934 |
| TERRY L HALES JR | DIRECTOR & PRESIDENT Trustee or director, Officer | 2 | $0 | $867,249 | $56,067 |
| J REID MORGAN | SECRETARY (TO 6/30/23) Officer | 2 | $0 | $690,571 | $108,874 |
| ANITA CONRAD | ASST SECRETARY (TO 10/31/23) Officer | 2 | $0 | $218,902 | $42,998 |
| ALLEN JOINES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| C DOUGLAS MAYNARD MD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC 27157-0001
- In care of
- % DOUGLAS E LISCHKE
- Principal officer (990 for 2024)
- TERRY L HALES JR, MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC 27157
- Signed the 990
- TERRY L HALES JR, PRESIDENT
- Phone
- (336) 716-4445
- Website
- WWW.INNOVATIONQUARTER.COM
Mission
TO DEVELOP AND IMPROVE A LOW-INCOME COMMUNITY IN DOWNTOWN WINSTON-SALEM, NC, AND ENGAGE IN ECONOMIC AND RELATED DEVELOPMENT OF A RESEARCH PARK.
Program accomplishments
- THE ORGANIZATION IS THE DRIVING FORCE BEHIND THE ESTABLISHMENT OF INNOVATION QUARTER, A GROWING URBAN-BASED DISTRICT FOR RESEARCH, BUSINESS, AND EDUCATION IN BIOMEDICAL SCIENCE, INFORMATION TECHNOLOGY, CLINICAL SERVICES, AND ADVANCED MATERIALS. LOCATED IN DOWNTOWN WINSTON-SALEM, NORTH CAROLINA, IT IS HOME TO MORE THAN 90 COMPANIES, FIVE LEADING ACADEMIC INSTITUTIONS, 3,600 WORKERS, AND 1,800 DEGREE-SEEKING STUDENTS. THE INNOVATION QUARTER CURRENTLY COMPRISES MORE THAN 2 MILLION SQUARE FEET OF OFFICE, LABORATORY, AND EDUCATION SPACE ON ITS 200 DEVELOPABLE ACRES. GROUNDBREAKING RESEARCH AT THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE ALSO INCLUDES WAKE FOREST INNOVATIONS, A COMMERCIALIZATION ENTERPRISE FOCUSED ON ADVANCING HEALTH CARE THROUGH NEW MEDICAL TECHNOLOGIES AND BIOMEDICAL DISCOVERY.Expenses $12,065
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-0177581
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2005
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $30,481,776
- Income (IRS master file)
- $75,175
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $75,175 | $12,065 | $30,481,776 | IRS |
| 990 | December 2023 | $75,240 | $10,771 | $30,493,666 | XML |
| 990 | December 2022 | $75,036 | $358 | $30,504,197 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-0177581).
Questions about WAKE FOREST INNOVATION QUARTER CDC
- What is the EIN of WAKE FOREST INNOVATION QUARTER CDC?
- The employer identification number (EIN) of WAKE FOREST INNOVATION QUARTER CDC is 20-0177581.
- Is WAKE FOREST INNOVATION QUARTER CDC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2005.
- Are donations to WAKE FOREST INNOVATION QUARTER CDC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does WAKE FOREST INNOVATION QUARTER CDC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WAKE FOREST INNOVATION QUARTER CDC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WAKE FOREST INNOVATION QUARTER CDC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WAKE FOREST INNOVATION QUARTER CDC?
- The 990 for the year ended December 31, 2024 names TERRY L HALES JR.
- Who are the officers and directors of WAKE FOREST INNOVATION QUARTER CDC?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $1,659,102 (J MCLAIN WALLACE JR, DIRECTOR, VP & TREASURER).
- How much revenue does WAKE FOREST INNOVATION QUARTER CDC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $75,175, expenses of $12,065 and total assets of $30,481,776 at year end.
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All nonprofits in WINSTONSALEM · North Carolina · Community improvement and capacity building