Civic Intelligence

Raleigh Area Development Authority

990 • Fiscal year 2015 • EIN 30-0218536

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 11, 2016

Organization ProfileWWW.RADA-NC.COM
4030 Wake Forest Road Rm/Ste 205Raleigh, NC 27609

(919) 807-8400

Siviq Scores

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

Liabilities / Assets

55th percentile

0.06x

Higher debt load relative to assets than 55% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

37th percentile

0.01x

Higher debt load relative to revenue than 37% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

22nd percentile

-9.2%

Higher net margin than 22% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

66th percentile

$50,041

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

6th percentile

-29%

Faster asset growth than 6% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

32nd percentile

-4.8%

Faster revenue growth than 32% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$110,586

Down $45,727 (-29%) from 2014

Net Assets

Down

$103,443

Down $49,435 (-32%) from 2014

Liabilities

Up

$7,143

Up $3,708 (+108%) from 2014

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin22nd percentile

Revenue

Down

$535,105

Down $27,074 (-4.8%) from 2014

Expenses

Down

$584,540

Down $128,174 (-18%) from 2014

Net Income

Up

-$49,435

Up $101,100 (+67%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth6th 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

2015

Assets$110,586
Liabilities$7,143
Net Assets$103,443
Open 2015 Filing

Operations Trend

Revenue Growth32nd percentile

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

2015

Revenue$535,105
Expenses$584,540
Net Income-$49,435
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 11, 2016
Return Version
2015v2.1
Gross Receipts
$535,105
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$100,533$66,346▼ $34,187
Accounts Receivable$30,822$22,600▼ $8,222
Pledges and Grants Receivable$15,226$16,092▲ $866
Land, Buildings, and Equipment, Net$8,097$3,913▼ $4,184
Prepaid Expenses and Deferred Charges$1,635$1,635→ $0
Total Assets$156,313$110,586▼ $45,727
Liabilities
Accounts Payable and Accrued Expenses$3,435$7,143▲ $3,708
Total Liabilities$3,435$7,143▲ $3,708
Net Assets / Fund Balance
Unrestricted Net Assets$152,878$103,443▼ $49,435
Total Net Assets Fund Balance$152,878$103,443▼ $49,435
Total Liabilities and Net Assets / Fund Balance$156,313$110,586▼ $45,727

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,528$18,226$19,754
Other Land Buildings$2,385$13,744$16,129
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James GreenePresidentPT$44,641$5,400$50,041

Board Members and Trustees

NameTitle
David BakerChair
Mark BolashVice Chair
-Director
Grady MatthewsDirector
Rita Anita LingerDirector
Sam T Gibson IiiDirector
Sarah C WilliamsDirector
Sonia BarnesDirector
Joanna LeclairSecretary
John BrysonTreasurer
John MillerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$240,459
Program Service Revenue
$294,646
Investment Income
$0
Other Revenue
$0
All Other Contributions
$90,700
Change in Net Assets
$-49,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$319,411
Other Expenses$265,129
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$193,046$41,412-$234,458
Fees for Services Accounting$44,512$14,838-$59,350
Current Officers, Directors, Trustees, and Key Employees-$44,641-$44,641
Occupancy$31,506$10,502-$42,008
All Other Expenses$21,543$5,922-$27,465
Payroll Taxes$17,001$8,261-$25,262
Fees for Services Other$17,629$5,876-$23,505
Advertising$15,576--$15,576
Other Employee Benefits$7,850$7,200-$15,050
Other Expenses$12,716--$12,716
Office Expenses$8,733$2,910-$11,643
Insurance$8,806--$8,806
Depreciation Depletion$3,168$1,016-$4,184
Travel$1,882$627-$2,509
Total Functional Expenses$441,335$143,205$0$584,540
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

Filer Name
Raleigh Area Development Authority
EIN
30-0218536
Phone
9198078400
Address
4030 WAKE FOREST ROAD RM/STE 205, RALEIGH, NC 27609

Signing Officer

Name
Wallace Green
Title
President
Phone
9198078400
Signed
2016-08-11

Organization Details

Voting Board Members
12
Independent Board Members
12
Employees
9

Preparer

Firm
Tanya S Branch Cpapa
Address
PO BOX 447, DURHAM, NC 27702-0338
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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IRS990/PYContributionsGrantsAmt0212169
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt015000
IRS990/PYInvestmentIncomeAmt015
IRS990/PYOtherExpensesAmt0265772
IRS990/PYProgramServiceRevenueAmt0349995
IRS990/PYRevenuesLessExpensesAmt0-150535
IRS990/PYSalariesCompEmpBnftPaidAmt0431942
IRS990/PYTotalExpensesAmt0712714
IRS990/PYTotalRevenueAmt0562179
IRS990/ReconcilationRevenueExpnssAmt0-49435
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0212169
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0311956
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0172783
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0156648
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01094015
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt015
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt015
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0545045
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0294646
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0294646
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/PublicSupportPY170Pct00.93060
IRS990ScheduleA/PublicSupportTotal170Amt01019563
IRS990ScheduleA/SubstantialContributorsTotAmt074452
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0172783
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0156648
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01094015
IRS990ScheduleA/TotalSupportAmt01388676
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt01528
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018226
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt019754
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02385
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013744
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt016129
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03913
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0RADA
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0RADA MORTGAGE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0LENDING
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0RALEIGH
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NC
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0240459
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0143205
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0441335
IRS990/TotalFunctionalExpensesGrp/TotalAmt0584540
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt07143
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0103443
IRS990/TotalOtherCompensationAmt05400
IRS990/TotalProgramServiceExpensesAmt0441335
IRS990/TotalProgramServiceRevenueAmt0294646
IRS990/TotalReportableCompFromOrgAmt044641
IRS990/TotalRevenueGrp/ExclusionAmt0294646
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0535105
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0156313
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0110586
IRS990/TravelGrp/ManagementAndGeneralAmt0627
IRS990/TravelGrp/ProgramServicesAmt01882
IRS990/TravelGrp/TotalAmt02509
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0152878
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0103443
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04030 WAKE FOREST ROAD 205
IRS990/USAddress/CityNm0RALEIGH
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027609
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.RADA-NC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WALLACE GREEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09198078400
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RALEIGH AREA DEVELOPMENT AUTHORITY
ReturnHeader/Filer/BusinessNameControlTxt0RALE

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$110,586
Liabilities
$7,143
Net assets
$103,443
Revenue
$535,105
Expenses
$584,540
Net income
-$49,435
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