Civic Intelligence

Raleigh Area Development Authority

990 • Fiscal year 2018 • EIN 30-0218536

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

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

(919) 807-8400

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$32,166

Down $6,025 (-16%) from 2017

Net Assets

Down

$13,659

Down $12,080 (-47%) from 2017

Liabilities

Up

$18,507

Up $6,055 (+49%) from 2017

Revenue And Expenses

Revenue

Down

$248,463

Down $81,617 (-25%) from 2017

Expenses

Down

$260,543

Down $135,281 (-34%) from 2017

Net Income

Up

-$12,080

Up $53,664 (+82%) from 2017

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

2018

Assets$32,166
Liabilities$18,507
Net Assets$13,659
Open 2018 Filing

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

2018

Revenue$248,463
Expenses$260,543
Net Income-$12,080
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$248,463
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
Accounts Receivable$16,515$17,972▲ $1,457
Pledges and Grants Receivable$959$10,000▲ $9,041
Prepaid Expenses and Deferred Charges$1,635$2,085▲ $450
Cash and Non-Interest-Bearing Accounts$18,587$1,911▼ $16,676
Land, Buildings, and Equipment, Net$495$198▼ $297
Total Assets$38,191$32,166▼ $6,025
Liabilities
Accounts Payable and Accrued Expenses$12,452$13,507▲ $1,055
Unsecured Notes Loans Payable-$5,000-
Total Liabilities$12,452$18,507▲ $6,055
Net Assets / Fund Balance
Unrestricted Net Assets$25,739$13,659▼ $12,080
Total Net Assets Fund Balance$25,739$13,659▼ $12,080
Total Liabilities and Net Assets / Fund Balance$38,191$32,166▼ $6,025

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$19,754$19,754
Other Land Buildings$198$15,931$16,129
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
James GreenePresidentPT$9,075$9,075

Board Members and Trustees

NameTitle
David BakerChair
Walter HarringtonVice Chair
-Director
John MillerDirector
Sean NockDirector
Soberina TraywickDirector
Sonia BarnesDirector
Joanna LeclairSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$69,536
Program Service Revenue
$178,927
Investment Income
$0
Other Revenue
$0
All Other Contributions
$69,536
Change in Net Assets
$-12,080
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$136,557
Other Expenses$123,986
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$42,830$22,203-$65,033
Other Salaries and Wages$55,479--$55,479
Fees for Services Accounting$24,065$8,022-$32,087
Occupancy$17,338$5,779-$23,117
Fees for Services Other$10,057$1,119-$11,176
Payroll Taxes$8,647$1,998-$10,645
Fees for Services Management$3,350$3,350-$6,700
Other Expenses$5,206$579-$5,785
Insurance$5,465--$5,465
Other Employee Benefits$4,050$1,350-$5,400
All Other Expenses$4,212$836-$5,048
Office Expenses$2,472$824-$3,296
Advertising$1,637--$1,637
Depreciation Depletion$223$74-$297
Travel$22$8-$30
Total Functional Expenses$212,511$48,032$0$260,543
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
2019-11-15

Organization Details

Principal Officer
Lekesha Shaw
Voting Board Members
9
Independent Board Members
9
Employees
3

Preparer

Firm
Tanya S Branch Cpapa
Address
PO BOX 447, DURHAM, NC 27702-0338
Preparer
Tanya Branch
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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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015931
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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
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
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ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LEKESHA SHAW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09198078400
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RALEIGH AREA DEVELOPMENT AUTHORITY
ReturnHeader/Filer/BusinessNameControlTxt0RALE
ReturnHeader/Filer/EIN0300218536
ReturnHeader/Filer/PhoneNum09198078400
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ReturnHeader/Filer/USAddress/CityNm0RALEIGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
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ReturnHeader/FilingSecurityInformation/IPTm014:36:28
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0743218115
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TANYA S BRANCH CPAPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 447
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DURHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0277020338
ReturnHeader/PreparerPersonGrp/PhoneNum09194906682
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TANYA BRANCH
ReturnHeader/ReturnTs02019-11-15T14:36:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$32,166
Liabilities
$18,507
Net assets
$13,659
Revenue
$248,463
Expenses
$260,543
Net income
-$12,080
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