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Nonprofit · EIN 56-2050806

WILMINGTON FUTURE INC

Tax-exempt · WILMINGTON, NC 28402

Financials

$1.5M$1.5M2023$1.3M$1.3M2024
Revenue Expenses · by fiscal year end
Financials of WILMINGTON FUTURE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$1,341,601$1,341,601$0$301,992,823$301,992,823$0
June 30, 2024990$1,530,491$1,530,491$0$329,458,198$329,458,198$0
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$0
Investment income
$1,341,601
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Program services (functional)
$1,341,601

Balance sheet and other

Total assets, start of year
$329,458,198
Total assets, end of year
$301,992,823
Total liabilities, end of year
$301,992,823
Net assets, end of year
$0
Gross receipts
$1,341,601
Employees
0
Volunteers
0
Year formed
1997
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 June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationFrom related orgs
Clayton RobertsPresident/Director
Trustee or director
0$0$160,528
Laura MortellVice President/Director
Trustee or director
0$0$158,261
Michelle BarberSecretary/Treasurer/Director
Trustee or director
0$0$78,344
990 for the year ended June 30, 2024: 3 people
NameTitleHours / weekCompensationFrom related orgs
Laura MortellVice President/Director
Trustee or director
0$0$150,725
Clayton RobertsPresident/Director
Trustee or director
0$0$142,882
Michelle BarberSecretary/Treasurer/Director
Trustee or director
0$0$71,400

Address and contacts

Address (IRS master file)
PO BOX 1810, WILMINGTON, NC 28402-1810
In care of
% J ALAN CAMPBELL
Principal officer (990 for 2024)
Clayton Roberts, PO Box 1810, Wilmington, NC 28402
Signed the 990
Clayton Roberts, President/Director
Phone
(910) 341-7822

Mission

The corporation is specifically organized for the purpose of promoting the general public welfare of the citizens by assisting the city in carrying out its municipal and governmental functions through the acquisition, construction, sale or lease, improvements, facilities and equipment for the use and benefit of the general public.

990 for the year ended June 30, 2025

Program accomplishments

  • Wilmington Future Inc. is acting as a conduit for the city and will make no profit. All interest earned will be used to fund the project(s) or will be applied toward the payments due from the city. Thus, the city will have the benefit of all earnings on accounts held by the Trustee and Wilmington Future Inc. will not hold any funds.
    Expenses $1,341,601 · revenue $1,341,601

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 June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
56-2050806
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
1998
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$301,992,823
Income (IRS master file)
$1,341,601

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$1,341,601$1,341,601$301,992,823XML
990June 2024$1,530,491$1,530,491$329,458,198XML
990June 2023$287,250$287,250$229,874,551IRS
990June 2022–––IRS
990June 2021–––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 56-2050806).

Questions about WILMINGTON FUTURE INC

What is the EIN of WILMINGTON FUTURE INC?
The employer identification number (EIN) of WILMINGTON FUTURE INC is 56-2050806.
Is WILMINGTON FUTURE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
Are donations to WILMINGTON FUTURE INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
Which annual return does WILMINGTON FUTURE INC 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 WILMINGTON FUTURE INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did WILMINGTON FUTURE INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of WILMINGTON FUTURE INC?
The 990 for the year ended June 30, 2025 names Clayton Roberts.
Who are the officers and directors of WILMINGTON FUTURE INC?
The 990 for the year ended June 30, 2025 lists 3 people; 0 received compensation from the organization.
How much revenue does WILMINGTON FUTURE INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $1,341,601, expenses of $1,341,601 and total assets of $301,992,823 at year end.

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