2023-11-15T12:24:30-06:00 2022-12-31 560571159 BERNARD ROBINSON & COMPANY LLP 110 OAKWOOD DRIVE SUITE 400 WINSTONSALEM NC 27103 990 2022-01-01 453814914 WPDA INC WPDA 3367238955 95 W 32ND STREET WINSTONSALEM NC 27105 ROBERT E LEAK JR PRESIDENT 3367238955 2023-11-15 1 ROBERT LEAK JR 999009999 0 JOHN M ROBINSON P01281319 3363030997 2023-11-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT E LEAK JR 1080 W FOURTH STREET WINSTONSALEM NC 27101 1158687 0 X HTTPS://WWW.WHITAKERPARKNC.COM/ X 2014 NC THE ORGANIZATION SEEKS TO FOSTER MEANINGFUL JOB GROWTH, LESSEN THE BURDENS OF THE GOVERNMENTS OF WINSTON-SALEM AND FORSYTH COUNTY BY PREVENTING ECONOMIC DETERIORATION OF AN AT-RISK AREA, AND SUPPORT THE MISSION OF LOCAL EDUCATIONAL INSTITUTIONS BY PROVIDING ACCESS TO EDUCATION AND RESEARCH FACILITIES. 14 14 0 15 0 0 0 0 1125438 387570 -5769727 -585370 7500 281519 -4636789 83719 0 0 0 0 286400 351400 0 0 0 1287873 1527714 1574273 1879114 -6211062 -1795395 18733846 16592896 1095460 1055377 17638386 15537519 X THE ORGANIZATION SEEKS TO FOSTER MEANINGFUL JOB GROWTH, LESSEN THE BURDENS OF THE GOVERNMENTS OF WINSTON-SALEM AND FORSYTH COUNTY BY PREVENTING ECONOMIC DETERIORATION OF AN AT-RISK AREA, AND SUPPORT THE MISSION OF LOCAL EDUCATIONAL INSTITUTIONS BY PROVIDING ACCESS TO EDUCATION AND RESEARCH FACILITIES. 0 0 1831452 83719 ACQUIRE CERTAIN LAND, BUILDINGS AND IMPROVEMENTS IN THE WHITAKER PARK FORMER TOBACCO MANUFACTURING FACILITY AND CERTAIN SURROUNDING PROPERTIES AND TO REUSE AND REDEVELOP SUCH PROPERTY TO INCLUDE RESEARCH AND LABORATORY SPACE, FACILITIES FOR ADVANCED MANUFACTURING, DISTRIBUTION AND EDUCATION AND MULTI-FAMILY RESIDENTIAL AND OTHER COMPONENTS. 1831452 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 X ROBERT E LEAK JR 3367238955 1080 W FOURTH STREET WINSTONSALEM NC 27101 DONALD E FLOW CHAIRMAN 0.00 X X 0 0 0 DENISE D ADAMS DIRECTOR 1.00 X 0 0 0 JOE BUDD DIRECTOR 1.00 X 0 0 0 JIMMY FLYTHE DIRECTOR 1.00 X 0 0 0 MICHAEL BAUGHAN DIRECTOR 1.00 X 0 0 0 J ALLEN JOINES DIRECTOR 1.00 X 0 0 0 STAN KELLY DIRECTOR 1.00 X 0 0 0 DR DONALD MARTIN DIRECTOR 1.00 X 0 0 0 B HOFLER MILAM DIRECTOR 1.00 X 0 0 0 SCOTT SEWELL DIRECTOR 1.00 X 0 0 0 JOHN CURRIE DIRECTOR 1.00 X 0 0 0 JOHN WHITAKER JR DIRECTOR 1.00 X 0 0 0 G WILLIAM JOYNER III DIRECTOR 1.00 X 0 0 0 RICK KING DIRECTOR 1.00 X 0 0 0 STEPHEN R BERLIN ESQ SECRETARY/TREASURER 1.00 X 0 0 0 ROBERT E LEAK JR PRESIDENT 40.00 X 336400 0 0 336400 0 0 1 0 1 0 R E LEAK CONSULTING LLC 600 RAVENSCAR CT WINSTONSALEM NC 27104 CONSULTING 336400 KILPATRICK TOWNSEND & STOCKTON LLP PO BOX 945614 ATLANTA GA 30394 LEGAL SERVICES 178544 2 RENTAL INCOME 900099 387570 387570 387570 489598 1074968 -585370 -585370 -585370 REVENUE FROM OPTIONS 900099 250000 250000 FORGIVENESS OF DEBT 900099 31519 31519 281519 83719 83719 0 0 X 351400 351400 172888 172888 33707 33707 586518 586518 678 446 232 4171 4171 524392 524392 1166 1166 102301 102301 64361 64361 REPAIRS AND MAINTENANCE 21742 21742 DUES AND SUBSCRIPTIONS 8634 8634 MISCALLANEOUS 6238 6238 BANK FEES 703 703 215 215 1879114 1831452 47662 0 X 9738952 1406542 239049 1086750 3235585 736736 2601150 2498849 5067945 12687505 18733846 16592896 409734 512435 147475 524180 500000 14071 42942 1095460 1055377 X 17638386 15537519 17638386 15537519 18733846 16592896 -1795395 42880 -348352 0 X 0 1 X 1 0 X 153466 645000 798466 153466 645000 798466 798466 6667 21 86750 93438 147850 147850 1039754 2127774 0.76790 0.76230 X 2879375 467670 2411705 356210 269066 87144 2498849 ESCROW FUNDS 500000 INVESTMENTS AT FAIR VALUE 9042880 FCDC REAL ESTATE HELD FOR SALE 177526 REAL ESTATE HELD FOR SALE 2967099 12687505 SECURITY DEPOSIT 18919 PREPAID RENT 24023 42942 X 126599 42880 42880 83719 0 83719 1879114 0 1879114 0 1879114 PART X, LINE 2: THE ORGANIZATION IS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE. THE ORGANIZATION IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. X X 0 0 0 0 0 0 0 0 0 ROBERT E LEAK JR PRESIDENT 0 0 0 0 336400 0 0 0 0 0 336400 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A WAKE FOREST UNIVERSITY, WINSTON-SALEM BUSINESS, INC. AND WINSTON-SALEM ALLIANCE HAVE THE RIGHT TO DESIGNATE TWO PERSONS FROM AMONG THEIR RESPECTIVE DIRECTORS, EXECUTIVE OFFICERS, OR SENIOR MANAGEMENT PERSONNEL TO ACT AS DIRECTORS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, TAX RETURNS AND FINANCIAL STATEMENTS ARE ALL AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G ENGINEERING FEES: PROGRAM SERVICE EXPENSES 51,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,000. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 510,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 510,000. RECORDING FEES: PROGRAM SERVICE EXPENSES 5,518. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,518. CONSULTING FEES: PROGRAM SERVICE EXPENSES 20,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,000. FORM 990, PART X, BALANCE SHEET, PRIOR PERIOD ADJUSTMENTS: DURING THE YEAR ENDED DECEMBER 31, 2022, MANAGEMENT DISCOVERED THAT THE CONSTRUCTION IN PROGRESS BALANCES AS OF DECEMBER 31, 2021 WERE NOT RECORDED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. UNDER THE RESTATEMENT, THE ORGANIZATION HAS RESTATED BALANCES OF CAPITALIZED COSTS AND CONSTRUCTION IN PROGRESS OF $348,352. THE EFFECT OF THE RESTATEMENT IS A DECREASE IN CAPITALIZED COSTS AND CONSTRUCTION IN PROGRESS OF $348,352 AND A DECREASE OF BEGINNING NET ASSETS OF $348,352.