Civic Intelligence

Raleigh Area Development Authority

990 • Fiscal year 2017 • EIN 30-0218536

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 05, 2018

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

86th percentile

0.33x

Higher debt load relative to assets than 86% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

73rd percentile

0.04x

Higher debt load relative to revenue than 73% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

16th percentile

-20%

Higher net margin than 16% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

6th percentile

-66%

Faster asset growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

37th percentile

-7.2%

Faster revenue growth than 37% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Down

$38,191

Down $73,066 (-66%) from 2016

Net Assets

Down

$25,739

Down $65,744 (-72%) from 2016

Liabilities

Down

$12,452

Down $7,322 (-37%) from 2016

Revenue

Down

$330,080

Down $25,782 (-7.2%) from 2016

Expenses

Up

$395,824

Up $28,002 (+7.6%) from 2016

Net Income

Down

-$65,744

Down $53,784 (-450%) from 2016

Historical Trend

Balance Sheet Trend

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

2017

Assets$38,191
Liabilities$12,452
Net Assets$25,739

Operations Trend

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

2017

Revenue$330,080
Expenses$395,824
Net Income-$65,744
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 5, 2018
Return Version
2017v2.3
Gross Receipts
$330,080
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$75,053$18,587▼ $56,466
Accounts Receivable$26,113$16,515▼ $9,598
Prepaid Expenses and Deferred Charges$1,635$1,635→ $0
Pledges and Grants Receivable$7,147$959▼ $6,188
Land, Buildings, and Equipment, Net$1,309$495▼ $814
Total Assets$111,257$38,191▼ $73,066
Liabilities
Accounts Payable and Accrued Expenses$19,774$12,452▼ $7,322
Total Liabilities$19,774$12,452▼ $7,322
Net Assets / Fund Balance
Unrestricted Net Assets$91,483$25,739▼ $65,744
Total Net Assets Fund Balance$91,483$25,739▼ $65,744
Total Liabilities and Net Assets / Fund Balance$111,257$38,191▼ $73,066

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$19,754$19,754
Other Land Buildings$495$15,634$16,129
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James GreenePresidentPT$38,046$600$38,646

Board Members and Trustees

NameTitle
David BakerChair
Mark BolashVice Chair
-Director
Grady MatthewsDirector
John BrysonDirector
John MillerDirector
Judy BoddieDirector
Sean NockDirector
Soberina TraywickDirector
Sonia BarnesDirector
Joanna LeclairSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$153,907
Program Service Revenue
$176,173
Investment Income
$0
Other Revenue
$0
All Other Contributions
$51,249
Change in Net Assets
$-65,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$229,839
Salaries, Compensation, and Employee Benefits$165,985
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$54,876$22,203-$77,079
Other Salaries and Wages$70,977--$70,977
Fees for Services Accounting$37,438$12,480-$49,918
Fees for Services Other$32,302$10,768-$43,070
Occupancy$17,536$5,846-$23,382
Travel$13,210$4,404-$17,614
Office Expenses$10,099$3,145-$13,244
Payroll Taxes$10,531$1,998-$12,529
Other Expenses$7,416$2,472-$9,888
All Other Expenses$8,318$1,189-$9,507
Insurance$6,202--$6,202
Other Employee Benefits$4,050$1,350-$5,400
Advertising$1,185--$1,185
Depreciation Depletion$610$204-$814
Total Functional Expenses$329,765$66,059$0$395,824
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
Lekesha Shaw
Title
Vice President
Phone
9198078400
Signed
2018-10-05

Organization Details

Principal Officer
Lekesha Shaw
Voting Board Members
12
Independent Board Members
12
Employees
5

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 IX, Line 11G

26,102 10,768 0 6,200 0 0 total 32,302 10,768 0

Form 990, Part XI, Line 9

Prior period adj to consolidate statements 0

Financial Statement Notes

Schedule D, Page 3, Part X

The organization evaluates its uncertain tax positions using the provisions of asc 740-10-25, recognition of a tax position. Accordingly, the organizations policy is to record a liability for any tax position taken that is beneficial to the organization, including any related interest and penalties, when it is more likely than not the position of management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of december 31, 2017. Tax years subsequent to 2013 remain subject to examination by major tax jurisdictions.

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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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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 511,166
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0139342
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0240459
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0212169
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0311956
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01057833
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt015
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0216520
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0294646
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0687339
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IRS990ScheduleA/PublicSupportPY170Pct00.63510
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IRS990ScheduleA/SubstantialContributorsTotAmt040096
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0311956
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt019754
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015634
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt016129
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS USING THE PROVISIONS OF ASC 740-10-25, RECOGNITION OF A TAX POSITION. ACCORDINGLY, THE ORGANIZATIONS POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE ORGANIZATION, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION OF MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF DECEMBER 31, 2017. TAX YEARS SUBSEQUENT TO 2013 REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS.
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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/ExplanationTxt626,102 10,768 0 6,200 0 0 TOTAL 32,302 10,768 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PRIOR PERIOD ADJ TO CONSOLIDATE STATEMENTS 0
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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 IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0329765
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IRS990/TotalLiabilitiesGrp/BOYAmt019774
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IRS990/TotalProgramServiceExpensesAmt0329765
IRS990/TotalProgramServiceRevenueAmt0176173
IRS990/TotalReportableCompFromOrgAmt038046
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0330080
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IRS990/TravelGrp/ManagementAndGeneralAmt04404
IRS990/TravelGrp/ProgramServicesAmt013210
IRS990/TravelGrp/TotalAmt017614
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt091483
IRS990/UnrestrictedNetAssetsGrp/EOYAmt025739
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.RADA-NC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LEKESHA SHAW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09198078400
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RALEIGH AREA DEVELOPMENT AUTHORITY
ReturnHeader/Filer/BusinessNameControlTxt0RALE
ReturnHeader/Filer/EIN0300218536
ReturnHeader/Filer/PhoneNum09198078400
ReturnHeader/Filer/USAddress/AddressLine1Txt04030 WAKE FOREST ROAD RM/STE 205
ReturnHeader/Filer/USAddress/CityNm0RALEIGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027609
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0568682558CB51510B6A06EDF38E995C29799CC25
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0568682558CB51510B6A06EDF38E995C29799CC25
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.70.228.183
ReturnHeader/FilingSecurityInformation/IPDt02018-10-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:03:06
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0743218115
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TANYA S BRANCH CPAPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 447
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DURHAM

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