Boston-Thurmond Innovation Network
Nonprofit profile at a glance
- EIN
- 824578409
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-N 2019
- Location
- Winston Salem, NC, USA
- Phone
- 3367696253
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $2,559,726
- Expenses
- $1,015,509
- Assets
- $2,767,341
- Liabilities
- $210,580
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- Regina Hall (Executive Director)
Highest reported compensation
- Regina Hall (Executive Director): $80,530 total reported compensation
- Pat Caldwell (Resident Vice Chair): $1,130 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To facilitate and support the vision of Boston-Thurmond residents for a strong and economically viable neighborhood that is fully integrated into the broader Winston-Salem community. The Network helps implement an intertwined approach to community revitalization, consistent with the Purpose Built Communities model.
What it reported doing in 2024
In FY 24-25, we served approximately 460 residents at our office building through community programming including grand opening activities, community town halls, board meetings, and neighborhood association meetings. We conducted inspections and critical repairs of approximately 20K in the Boston-Thurmond neighborhood through our Safe Home Repair Program, preventing displacement of four families. We served approximately 524 in the Boston-Thurmond through digital literacy courses and distribution of laptop computers. We served 11 high school teenagers from 14-18 years old through our Summer Leadership by Design Camp, providing teens with technical skills in planning, architecture, and design. We served approximately 530 mothers through our Forsyth County Birth Stories initiative including sponsoring a community baby shower, and awarding over 20K in mini grants for programs designed to address equitable birth outcomes in the 27105 zip code. Participant satisfaction surveys have been highly favorable.
Operating model
- Revenue model
- Grant-funded. 69% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 49
- Transparency & Controls: 92
- Accountability: 82
- Sustainability: 77
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 34.8%; rating input score 35
- Program expense ratio: 87.6%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 60.3%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 2.73; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
- Officer compensation ratio: 8%; rating input score 37; 37th percentile among comparable filings
Growth
- Program expense growth: 51% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 50.1% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 50.9% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 34.8% of revenue deployed · 87.6% of spending went to programs
- Governance: 15 of 15 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $889K in reported program spending
- Leadership: top reported pay $81K · 16 people listed
- Highest-paid contractors: 2 contractors listed · $1.4M reported
- Consistency: 30 of 30 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
- Review — Accountability: Governance controls: 4 of 9 not reported.
- Moderate — Sustainability: Officer compensation ratio scored 37/100.