Civic Intelligence

Raleigh Area Development Authority

990 • Fiscal year 2013 • EIN 30-0218536

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 15, 2014

Organization ProfileWWW.RADA-NC.COM
4030 Wake Forest RoadRoom/Suite 20527609

(919) 807-8400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.16x

Higher debt load relative to assets than 64% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

59th percentile

0.08x

Higher debt load relative to revenue than 59% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Net Margin

72nd percentile

15%

Higher net margin than 72% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

72nd percentile

$55,597

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Asset Growth

91st percentile

56%

Faster asset growth than 91% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$360,775

Up $129,741 (+56%) from 2012

Net Assets

Up

$303,413

Up $108,551 (+56%) from 2012

Liabilities

Up

$57,362

Up $21,190 (+59%) from 2012

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin72nd percentile

Revenue

$712,395

No earlier filing loaded for comparison.

Expenses

Up

$603,844

Up $153,290 (+34%) from 2012

Net Income

$108,551

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2010: $105,824Liabilities 2010: $6,868Net Assets 2010: $98,9562010Assets 2011: $89,955Liabilities 2011: $6,822Net Assets 2011: $83,1332011Assets 2012: $231,034Liabilities 2012: $36,172Net Assets 2012: $194,8622012Assets 2013: $360,775Liabilities 2013: $57,362Net Assets 2013: $303,4132013Assets 2014: $156,313Liabilities 2014: $3,435Net Assets 2014: $152,8782014Assets 2015: $110,586Liabilities 2015: $7,143Net Assets 2015: $103,4432015Assets 2016: $111,257Liabilities 2016: $19,774Net Assets 2016: $91,4832016Assets 2017: $38,191Liabilities 2017: $12,452Net Assets 2017: $25,7392017Assets 2018: $32,166Liabilities 2018: $18,507Net Assets 2018: $13,6592018

Highlighted filing

2013

Assets$360,775
Liabilities$57,362
Net Assets$303,413
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $382,8152010Expenses 2011: $328,0152011Expenses 2012: $450,5542012Revenue 2013: $712,395Expenses 2013: $603,844Net Income 2013: $108,5512013Revenue 2014: $562,179Expenses 2014: $712,714Net Income 2014: -$150,5352014Revenue 2015: $535,105Expenses 2015: $584,540Net Income 2015: -$49,4352015Revenue 2016: $355,862Expenses 2016: $367,822Net Income 2016: -$11,9602016Revenue 2017: $330,080Expenses 2017: $395,824Net Income 2017: -$65,7442017Revenue 2018: $248,463Expenses 2018: $260,543Net Income 2018: -$12,0802018

Highlighted filing

2013

Revenue$712,395
Expenses$603,844
Net Income$108,551
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 15, 2014
Return Version
2013v3.1
Gross Receipts
$712,395
Mission and Program Overview

Mission

Provide and stimulate investment in raleigh's most underdeveloped and neglected communities, particularly southeast raleigh.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$193,904$214,339▲ $20,435
Accounts Receivable$17,532$36,150▲ $18,618
Pledges and Grants Receivable$4,506$35,506▲ $31,000
Land, Buildings, and Equipment, Net$10,757$8,684▼ $2,073
Other Notes and Loans Receivable, Net$2,700--
Prepaid Expenses and Deferred Charges$1,635$1,935▲ $300
Total Assets$231,034$360,775▲ $129,741
Other Assets Total-$64,161-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$50,000-
Other Liabilities$19,357--
Accounts Payable and Accrued Expenses$16,815$7,362▼ $9,453
Total Liabilities$36,172$57,362▲ $21,190
Net Assets / Fund Balance
Unrestricted Net Assets$194,862$303,413▲ $108,551
Total Net Assets Fund Balance$194,862$303,413▲ $108,551
Total Liabilities and Net Assets / Fund Balance$231,034$360,775▲ $129,741

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,076$12,425$17,501
Other Land Buildings$3,608$11,035$14,643
Other Assets Org$64,161--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-PresidentFT$50,197$5,400$55,597

Board Members and Trustees

NameTitle
John MillerChair
David BakerVice Chair
John BrysonDirector
Luther WilliamsDirector
Mark BolashDirector
Rita Anita LingerDirector
Stanley GreenDirector
Sonia BarnesSecretary
Joanna LeclairTreasurer
Sarah C WilliamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$311,957
Program Service Revenue
$400,438
Investment Income
$0
Other Revenue
$0
All Other Contributions
$130,000
Change in Net Assets
$108,551

Audited Revenue Reconciliation

Revenue per Audited Statements
$712,395
Total Revenue per Audited Statements
$712,395
Total Revenue per Form 990
$712,395
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$372,418
Other Expenses$231,426
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$207,575$117,869-$325,444
Occupancy$16,837$22,575-$39,412
Payroll Taxes$33,174--$33,174
Fees for Services Other$31,051--$31,051
Advertising$26,292--$26,292
Office Expenses$21,471--$21,471
Other Employee Benefits$13,800--$13,800
All Other Expenses$11,746$1,991-$13,737
Travel$6,349$6,349-$12,698
Other Expenses$8,632$959-$9,591
Depreciation Depletion$2,304$1,263-$3,567
Total Functional Expenses$436,162$167,682$0$603,844

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$603,844
Total Expenses per Audited Statements$603,844
Total Expenses per Form 990$603,844
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“The rada board of directors has a nominating committee which seeks and receives names of potential board members. Nominees are presented to the full board for election following proper notice to all current directors. All current members of the rada board of directors can vote.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 distributed to board of directors for review prior to filing”

Form 990, Page 6, Part VI, Line 12C

“Board and staff are required to sign a formal conflict of interest statement”

Form 990, Page 6, Part VI, Line 15A

“The prior services of professional resources, inc, out of winston-salem, was used to provide a base compensation analysis for the president/ceo of rada. Based on this information it was decided by the executive committee that the president/ceos compensation packet should remain a budgeted item.”

Form 990, Page 6, Part VI, Line 15B

“Other staff salaries are based upon market conditions as determined by the nc esc and by surveying solicitations by local advertisers”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to the public upon request”

Filing and Contact Details

Filer

EIN
30-0218536
Phone
9198078400

Signing Officer

Name
Wallace Green
Title
President
Phone
9198078400
Signed
2014-08-15

Organization Details

Principal Officer
Wallace Green
Voting Board Members
11
Independent Board Members
11
Employees
12

Preparer

Preparer
Tanya Branch CPA
Phone
9194906682
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Prior period adj to consolidate statements 0”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RADA BOARD OF DIRECTORS HAS A NOMINATING COMMITTEE WHICH SEEKS AND RECEIVES NAMES OF POTENTIAL BOARD MEMBERS. NOMINEES ARE PRESENTED TO THE FULL BOARD FOR ELECTION FOLLOWING PROPER NOTICE TO ALL CURRENT DIRECTORS. ALL CURRENT MEMBERS OF THE RADA BOARD OF DIRECTORS CAN VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 DISTRIBUTED TO BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD AND STAFF ARE REQUIRED TO SIGN A FORMAL CONFLICT OF INTEREST STATEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRIOR SERVICES OF PROFESSIONAL RESOURCES, INC, OUT OF WINSTON-SALEM, WAS USED TO PROVIDE A BASE COMPENSATION ANALYSIS FOR THE PRESIDENT/CEO OF RADA. BASED ON THIS INFORMATION IT WAS DECIDED BY THE EXECUTIVE COMMITTEE THAT THE PRESIDENT/CEOS COMPENSATION PACKET SHOULD REMAIN A BUDGETED ITEM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER STAFF SALARIES ARE BASED UPON MARKET CONDITIONS AS DETERMINED BY THE NC ESC AND BY SURVEYING SOLICITATIONS BY LOCAL ADVERTISERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PRIOR PERIOD ADJ TO CONSOLIDATE STATEMENTS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
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Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$360,775
Liabilities
$57,362
Net assets
$303,413
Revenue
$712,395
Expenses
$603,844
Net income
$108,551
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.32$0.19$0.14$2.48$2.61$0.12
2017Detailed filing. Detailed filing data is available for this year.$0.38$0.12$0.26$3.30$3.96$0.66
2016Detailed filing. Detailed filing data is available for this year.$1.11$0.20$0.91$3.56$3.68$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.11$0.07$1.03$5.35$5.85$0.49
2014Detailed filing. Detailed filing data is available for this year.$1.56$0.03$1.53$5.62$7.13$1.51
2013Detailed filing. Detailed filing data is available for this year.$3.61$0.57$3.03$7.12$6.04$1.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$0.36$1.95$4.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.07$0.83$3.28
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.07$0.99$3.83