Nonprofit · EIN 47-3707235
FLYWHEEL FOUNDATION
Tax-exempt · WINSTON SALEM, NC 27101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $358,465 | $412,911 | -$54,446 | $227,032 | $67,637 | $159,395 |
| December 31, 2023 | 990 | $499,451 | $423,672 | $75,779 | $313,466 | $99,625 | $213,841 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $308,144
- of which government grants
- $20,000
- Program service revenue
- $50,321
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $148,700
- Compensation of officers, directors and key employees
- $74,301
- Other salaries and wages
- $16,713
- Salaries, compensation and benefits (total)
- $98,443
- Professional fundraising fees
- $0
- Accounting fees
- $3,584
- Occupancy
- $497
- Travel
- $658
- Depreciation
- $9,243
- Program services (functional)
- $226,110
- Management and general (functional)
- $186,801
Balance sheet and other
- Total assets, start of year
- $313,466
- Total assets, end of year
- $227,032
- Total liabilities, end of year
- $67,637
- Net assets, end of year
- $159,395
- Land, buildings and equipment
- $81,560
- Gross receipts
- $358,465
- Employees
- 0
- Volunteers
- 75
- Year formed
- 2015
- 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 | Other / benefits |
|---|---|---|---|---|
| JILL ATHERTON | EXECUTIVE DI Officer | 40 | $70,000 | $4,301 |
| PETER MARSH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LARRY BARRON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LAURA LEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| FRED DILWORTH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| WILMENIA GRIPPER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SAJID HUSSAIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ADRIAN MARABLE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOSH MCGEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SKYLER SHIELDS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| IRIS COLE | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RICK LEANDER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SURESH GOPALAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| IRENE WONG | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JILL ATHERTON | EXECUTIVE DI Officer | 40 | $67,083 | $36 |
| PETER MARSH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PAGE CASTRODALE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| IRENE WONG | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| STEPHEN EDWARDS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| FLETCHER STEELE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TRINITY MANNING | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LARRY BARRON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SURESH GOPALAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LAURA LEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| IRIS COLE | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RICK LEANDER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| WILL JOYNER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 500 W 5TH ST STE 800, WINSTON SALEM, NC 27101-3131
- Mailing address (990-N for 2019)
- 500 W 5th Street Ste 800, Winston Salem NC 27101
- Principal officer (990 for 2024)
- IRIS COLE, 500 WEST 5TH STREET SUITE 800, WINSTONSALEM, NC 27101
- Principal officer (990-N for 2019)
- Alicia Hardin, 500 W 5th Street Ste 800, Winston Salem NC 27101
- Signed the 990
- IRENE WONG, SECRETARY
- Phone
- (336) 725-7808
- Return prepared by
- BUTLER BURKE LLP
Mission
TO SUPPORT ENTREPRENEURSHIP THROUGH RESEARCH, ECOSYSTEM DEVELOPMENT, EDUCATION, INVESTMENT, ENTREPRENEURSHIP FOCUSED EVENTS, AND TRAINING.
Program accomplishments
- 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 START-UPS. PRODUCTION OF ENTREPRENEURSHIP FOCUSED EVENTS. VENTURE STUDIO RESIDENCE PROGRAM- ADMINISTER OPERATIONAL FUNDS AND PROVIDE CONSULTING SERVICES.Expenses $226,110 · grants $148,700 · revenue $50,321
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
- 47-3707235
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P80)
- Assets (IRS master file)
- $227,032
- Income (IRS master file)
- $358,465
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $358,465 | $412,911 | $227,032 | XML |
| 990 | December 2023 | $499,451 | $423,672 | $313,466 | XML |
| 990 | December 2022 | $322,010 | $274,217 | $230,834 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-N for 2019 Officer: Alicia Hardin | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
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 47-3707235).
Questions about FLYWHEEL FOUNDATION
- What is the EIN of FLYWHEEL FOUNDATION?
- The employer identification number (EIN) of FLYWHEEL FOUNDATION is 47-3707235.
- Is FLYWHEEL FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to FLYWHEEL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FLYWHEEL FOUNDATION 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 FLYWHEEL FOUNDATION 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 FLYWHEEL FOUNDATION 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 FLYWHEEL FOUNDATION?
- The 990 for the year ended December 31, 2024 names IRIS COLE.
- Who are the officers and directors of FLYWHEEL FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $70,000 (JILL ATHERTON, EXECUTIVE DI).
- How much revenue does FLYWHEEL FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $358,465, expenses of $412,911 and total assets of $227,032 at year end.
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