Overview
What is Wilmington Future Inc?
Wilmington Future Inc is a nonprofit organization established to serve the community of Wilmington, North Carolina. Its primary role is to act as a conduit for the city, with the purpose of promoting public welfare and assisting in the execution of municipal functions. This entails acquiring, constructing, selling, leasing, improving, and maintaining facilities and equipment for the benefit of the general public. The organization operates under the principle of not making a profit, with any interest earned being utilized to fund projects or repayments to the city. All funds are managed and benefited by the city, while Wilmington Future Inc does not retain any funds.
Is Wilmington Future Inc legitimate?
Wilmington Future Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wilmington Future Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Wilmington Future Inc?
Wilmington Future Inc is dedicated to enhancing the public welfare by aiding the city in executing its municipal and governmental duties. This is achieved through the acquisition, construction, sale, or lease, as well as the improvement, provision of facilities, and equipment, all for the benefit of the general public. The corporation operates as a conduit for the city, with any earned interest being utilized to fund projects or toward city payments. Notably, Wilmington Future Inc does not profit from these activities.
Who is the CEO of Wilmington Future Inc?
Amy Beatty is the Secretary/Treasurer/Director of Wilmington Future Inc.
What is the revenue of Wilmington Future Inc?
Wilmington Future Inc's revenue in 2023 was $287,250.
Who are the executives of Wilmington Future Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $152,199
- Other: $0
- Compensation: $0
- Related: $144,861
- Other: $0
- Compensation: $0
- Related: $143,685
- Other: $0
Where can I find the form 990 for Wilmington Future Inc?
Wilmington Future Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Wilmington Future Inc
Wilmington Future Inc, as a nonprofit organization, is dedicated to promoting the general welfare of the public by aiding the city in fulfilling its municipal and governmental functions. This is achieved through the acquisition, construction, sale, or lease of necessary facilities and equipment, which are then utilized for the benefit of the general public. The organization acts as a conduit for the city, with any interest earned being used to fund projects or toward city payments. It is noteworthy that Wilmington Future Inc does not aim to generate profit, with all earnings being channeled back into its endeavors. The mission of Wilmington Future Inc is to contribute to the betterment of society by supporting the city in delivering essential services and facilities to its citizens.
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Impact
October, 2024
Wilmington Future Inc significantly enhances the quality of life for residents in Wilmington, NC, by facilitating essential municipal and governmental functions. By acting as a conduit for the city, it supports projects that improve public infrastructure, services, and facilities, directly benefiting the community.
The organization focuses on acquiring, constructing, selling, leasing, and improving public facilities and equipment. This involvement ensures that municipal projects are efficiently funded and managed, allowing the city to allocate resources more effectively. Furthermore, Wilmington Future Inc ensures that all interest earned on funds is reinvested into community projects or used to fulfill payments owed by the city, maximizing the economic impact without retaining profits.
Through its initiatives, Wilmington Future Inc plays a critical role in promoting general public welfare, making significant contributions to the overall development and well-being of Wilmington's citizens. The result is a thriving community with enhanced public resources and infrastructure, ultimately fostering a better living environment for all residents.
This information is meant to be a general summary of Wilmington Future Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $287,250
- Gross Receipts: $287,250
Assets and Liabilities:
- Total Assets: $229,874,551
- Total Liabilities: $229,874,551
- Net Assets: $0
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Organization Details
Founding Year
1997
Phone
(910) 341-7822Principal Officer
Amy Beatty
Main Address
PO Box 1810, Wilmington, NC, 28402
NTEE Category
Code: W110 - Public benefit
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