Overview
What is Winston Starts?
Winston Starts is a dedicated nonprofit organization situated in Winston-Salem, North Carolina. Their primary goal is to contribute to the long-term economic growth and vitality of the Winston-Salem area by offering intensive, inspiring, and tailored support to startups with the potential for national scalability. They collaborate with various other startup support networks across the Triad and the state, aiming to establish a comprehensive ecosystem for startup development. By providing office space, education, and access to professional services, Winston Starts seeks to foster a culture of entrepreneurship and innovation, ultimately benefiting the local community and its citizens as a whole.
Official website here: www.winstonstarts.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. Winston Starts receives a moderate rating, indicating that while there are strengths in their structure and operations, there are areas needing improvement. The organization has a solid accountability and finance score of 73, with high marks for independent board membership and financial management, reflecting effective oversight and a commitment to transparency.
Strengths include a well-composed board with all members being independent, a low liabilities to assets ratio of 0.27%, and a high program expense ratio of 95.28%, suggesting that a significant portion of their funding is directed towards their programs rather than administrative costs. The presence of policies for conflict of interest and whistleblowing demonstrates a commitment to ethical governance, despite some policies lacking full implementation.
However, limitations are evident in the absence of a whistleblower policy and a document retention and destruction policy, both of which received low scores. This raises concerns about the organization's practices surrounding accountability and compliance. Overall, while Winston Starts shows promise with its operational strengths, addressing these gaps could enhance their rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Winston Starts legitimate?
Winston Starts is a legitimate nonprofit organization registered as a 501(c)(3) entity. Winston Starts 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: $115,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $144,235
For more financial information, click here
Official website here: www.winstonstarts.com
What is the mission statement of Winston Starts?
Winston Starts is an organization with a mission to bolster the economic health of businesses with nationally scalable models. They accomplish this by offering comprehensive support to these startups, collaborating with other entrepreneurial initiatives across the region, and fostering a culture of innovation and entrepreneurship. The primary objectives of Winston Starts are to stimulate long-term job growth and economic vitality, benefiting the community as a whole, by providing educational resources, office space, and professional services to early-stage businesses committed to their locality. Furthermore, the organization serves as a catalyst for economic development by attracting new businesses and supporting the growth of existing companies within its community.
Official website here: www.winstonstarts.com
What is the revenue of Winston Starts?
Winston Starts's revenue in 2023 was $1,309,857.
Official website here: www.winstonstarts.com
Who are the executives of Winston Starts and what are their salaries?
The average compensation at Winston Starts during 2023 was $51,847. There are 5 employees at Winston Starts.
Here are 7 key members and their salaries:
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- Compensation: $115,000
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Official website here: www.winstonstarts.com
Where can I find the form 990 for Winston Starts?
Winston Starts's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.winstonstarts.com
Learn more at the official website: www.winstonstarts.com
Mission Statement of Winston Starts
Winston Starts, a nonprofit organization, is dedicated to driving the economic health of various regions, specifically focusing on Winston-Salem, Triad, and North Carolina. Their mission is threefold: firstly, they offer intensive, inspiring, and duration-appropriate support for startups with nationally scalable business models. Secondly, they collaborate with other startup support enterprises across the Triad and the state to establish a coordinated network of startup support. Lastly, Winston Starts promotes a culture of entrepreneurship and innovation.
The primary objectives of Winston Starts are twofold. Firstly, they aim to foster long-term job growth and economic vitality in and around Winston-Salem, ultimately benefiting the local community as a whole. To achieve this, they provide education, office space, and access to professional services and other forms of support to startup and early-stage businesses committed to operating in and around Winston-Salem.
Secondly, Winston Starts serves as a catalyst for economic development by attracting new businesses to Winston-Salem and fostering the growth of existing Winston-Salem-based companies. This dual-focused approach allows Winston Starts to play a vital role in the local economy, contributing to job creation, business development, and overall community prosperity.
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Impact
July, 2024
Winston Starts has a significant impact on the economic health and vitality of Winston-Salem, the Triad region, and North Carolina as a whole. By providing intense support for startups with nationally scalable business models, Winston Starts contributes to long-term job growth and economic development in the area. Their collaboration with other startup support organizations creates a network that fosters entrepreneurship and innovation, leading to a culture of economic prosperity. Additionally, by offering office space and access to professional services, Winston Starts plays a vital role in attracting new businesses to Winston-Salem and supporting the growth of existing companies, benefiting both the local community and its citizens.
This information is meant to be a general summary of Winston Starts. 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: $19
- Program Service Revenue: $147,941
- Gross Receipts: $1,309,857
Assets and Liabilities:
- Total Assets: $1,867,594
- Total Liabilities: $22,479
- Net Assets: $1,845,115
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REVENUE FROM PROGRAM-R
Revenue
$147,941
Organization Details
Founding Year
2017
Principal Officer
Stan Parker
Website
www.winstonstarts.comNTEE Category
Code: S43 - Community improvement
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