Civic Intelligence

Rasa II Economic Development Corporation

990 • Fiscal year 2021 • EIN 31-1806577

Jul 01, 2020 to Jun 30, 2021 • Filed on May 13, 2022

Organization ProfileN/A
3625 Marion DriveColorado Springs, CO 80909

(303) 442-6380

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.85x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

2.19x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

62nd percentile

20%

Higher net margin than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

47th percentile

7.8%

Faster asset growth than 47% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

64th percentile

27%

Faster revenue growth than 64% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$2,135,980

Up $154,435 (+7.8%) from 2020

Net Assets

Up

$330,424

Up $166,210 (+101%) from 2020

Liabilities

Down

$1,805,556

Down $11,775 (-0.6%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin62nd percentile

Revenue

Up

$825,102

Up $177,623 (+27%) from 2020

Expenses

Up

$658,892

Up $49,889 (+8.2%) from 2020

Net Income

Up

$166,210

Up $127,734 (+332%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$3.0M$2.0M$1.0M$0Assets 2015: $2,099,082Liabilities 2015: $1,952,887Net Assets 2015: $146,1952015Assets 2016: $2,079,310Liabilities 2016: $1,941,706Net Assets 2016: $137,6042016Assets 2017: $2,039,973Liabilities 2017: $1,914,538Net Assets 2017: $125,4352017Assets 2018: $2,055,005Liabilities 2018: $1,895,325Net Assets 2018: $159,6802018Assets 2020: $1,981,545Liabilities 2020: $1,817,331Net Assets 2020: $164,2142020Assets 2021: $2,135,980Liabilities 2021: $1,805,556Net Assets 2021: $330,4242021Assets 2022: $2,250,807Liabilities 2022: $1,772,333Net Assets 2022: $478,4742022Assets 2023: $2,407,352Liabilities 2023: $1,736,590Net Assets 2023: $670,7622023Assets 2024: $2,349,075Liabilities 2024: $1,640,315Net Assets 2024: $708,7602024Assets 2025: $2,526,579Liabilities 2025: $1,604,633Net Assets 2025: $921,9462025

Highlighted filing

2021

Assets$2,135,980
Liabilities$1,805,556
Net Assets$330,424
Open 2021 Filing

Operations Trend

Revenue Growth64th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2015: $528,354Expenses 2015: $586,304Net Income 2015: -$57,9502015Revenue 2016: $598,680Expenses 2016: $607,271Net Income 2016: -$8,5912016Revenue 2017: $623,288Expenses 2017: $635,457Net Income 2017: -$12,1692017Revenue 2018: $624,204Expenses 2018: $589,959Net Income 2018: $34,2452018Revenue 2020: $647,479Expenses 2020: $609,003Net Income 2020: $38,4762020Revenue 2021: $825,102Expenses 2021: $658,892Net Income 2021: $166,2102021Revenue 2022: $876,632Expenses 2022: $728,582Net Income 2022: $148,0502022Revenue 2023: $935,961Expenses 2023: $743,673Net Income 2023: $192,2882023Revenue 2024: $897,115Expenses 2024: $894,491Net Income 2024: $2,6242024Revenue 2025: $1,027,513Expenses 2025: $814,327Net Income 2025: $213,1862025

Highlighted filing

2021

Revenue$825,102
Expenses$658,892
Net Income$166,210
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 13, 2022
Return Version
2020v4.0
Gross Receipts
$825,102
Mission and Program Overview

Mission

Provides affordable housing for individuals families, and handicapped individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,462,574$1,580,834▲ $118,260
Rtn Earn Endowment Incm Other Fnds$164,214$330,424▲ $166,210
Cash and Non-Interest-Bearing Accounts$134,089$298,463▲ $164,374
Intangible Assets$57,415$55,309▼ $2,106
Accounts Receivable$10,573$19,415▲ $8,842
Prepaid Expenses and Deferred Charges$4,707$6,755▲ $2,048
Total Assets$1,981,545$2,135,980▲ $154,435
Other Assets Total$312,187$175,204▼ $136,983
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,755,771$1,720,467▼ $35,304
Other Liabilities$45,998$44,885▼ $1,113
Accounts Payable and Accrued Expenses$15,562$40,204▲ $24,642
Total Liabilities$1,817,331$1,805,556▼ $11,775
Net Assets / Fund Balance
Total Net Assets Fund Balance$164,214$330,424▲ $166,210
Total Liabilities and Net Assets / Fund Balance$1,981,545$2,135,980▲ $154,435

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,421,514$791,022$2,212,536
Land$159,320-$159,320
Other Assets Org$15,954--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Leslie R WhitePresident
Regina AllenDirector
Cheryl V FranklinSecretary
Walter PorterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$824,999
Investment Income
$103
Other Revenue
$0
Change in Net Assets
$166,210

Audited Revenue Reconciliation

Revenue per Audited Statements
$825,102
Total Revenue per Audited Statements
$825,102
Total Revenue per Form 990
$825,102
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$550,255
Salaries, Compensation, and Employee Benefits$108,637
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$74,474$11,803-$86,277
Depreciation Depletion$71,939--$71,939
Interest$52,102--$52,102
All Other Expenses$47,149$1,789-$48,938
Fees for Services Management$30,477$10,159-$40,636
Other Expenses$30,997--$30,997
Insurance$28,849$165-$29,014
Office Expenses$15,442$4,672-$20,114
Other Employee Benefits$12,616$2,003-$14,619
Fees for Services Accounting-$9,400-$9,400
Payroll Taxes$6,680$1,061-$7,741
Travel$5,539$1,793-$7,332
Fees for Services Legal$2,877--$2,877
Information Technology$1,666--$1,666
Total Functional Expenses$616,047$42,845$0$658,892

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$658,892
Total Expenses per Audited Statements$658,892
Total Expenses per Form 990$658,892
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Rent$16,544
Tenant Sec Deposits Held in Trust$15,930
Accrued Property Taxes$8,110
Accrued Interest Payable$4,301
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization delegated the management duties to a management company.”

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

“Form 990 is reviewed by a board member prior to filing.”

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

“The board of directors monitor and enforce compliance with it conflict of interest policy by use of its property management company's approval of contracts”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Rasa Ii Economic Development
EIN
31-1806577
Phone
3034426380
Address
3625 MARION DRIVE, COLORADO SPRINGS, CO 80909

Signing Officer

Name
Leslie R White
Title
President
Phone
3034426380
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leslie R White
Formed
2001
Legal Domicile
Co
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Zudyk & Scheirman Cpas Pc
Address
3872 S DALLAS ST UNIT 107, AURORA, CO 80014-7422
Preparer
Gregg R Scheirman
Phone
3034399469
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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/OtherAssetsOrgGrp/Desc2CASH TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016544
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115930
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt28110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt34301
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SEC DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED PROPERTY TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED INTEREST PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0825102
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01580834
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0175204
IRS990ScheduleD/TotalExpensesPerForm990Amt0658892
IRS990ScheduleD/TotalLiabilityAmt044885
IRS990ScheduleD/TotalRevenuePerForm990Amt0825102
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0825102
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0658892
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATED THE MANAGEMENT DUTIES TO A MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY A BOARD MEMBER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS MONITOR AND ENFORCE COMPLIANCE WITH IT CONFLICT OF INTEREST POLICY BY USE OF ITS PROPERTY MANAGEMENT COMPANY'S APPROVAL OF CONTRACTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01981545
IRS990/TotalAssetsEOYAmt02135980
IRS990/TotalAssetsGrp/BOYAmt01981545
IRS990/TotalAssetsGrp/EOYAmt02135980
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042845
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0616047
IRS990/TotalFunctionalExpensesGrp/TotalAmt0658892
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01817331
IRS990/TotalLiabilitiesEOYAmt01805556
IRS990/TotalLiabilitiesGrp/BOYAmt01817331
IRS990/TotalLiabilitiesGrp/EOYAmt01805556
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0164214
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0330424
IRS990/TotalProgramServiceExpensesAmt0616047
IRS990/TotalProgramServiceRevenueAmt0824999
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0825102
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0825102
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01981545
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02135980
IRS990/TravelGrp/ManagementAndGeneralAmt01793
IRS990/TravelGrp/ProgramServicesAmt05539
IRS990/TravelGrp/TotalAmt07332
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03625 MARION DRIVE
IRS990/USAddress/CityNm0COLORADO SPRINGS
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080909
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LESLIE R WHITE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03034426380
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RASA II ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0RASA
ReturnHeader/Filer/EIN0311806577
ReturnHeader/Filer/PhoneNum03034426380
ReturnHeader/Filer/USAddress/AddressLine1Txt03625 MARION DRIVE
ReturnHeader/Filer/USAddress/CityNm0COLORADO SPRINGS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080909
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205969428
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ZUDYK & SCHEIRMAN CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03872 S DALLAS ST UNIT 107
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AURORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0800147422
ReturnHeader/PreparerPersonGrp/PhoneNum03034399469
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GREGG R SCHEIRMAN
ReturnHeader/ReturnTs02022-05-13T11:44:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LESLIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WHITE
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,135,980
Liabilities
$1,805,556
Net assets
$330,424
Revenue
$825,102
Expenses
$658,892
Net income
$166,210
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.53$1.60$0.92$1.03$0.81$0.21
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.35$1.64$0.71$0.90$0.89$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$1.74$0.67$0.94$0.74$0.19
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$1.77$0.48$0.88$0.73$0.15
2021Detailed filing. Detailed filing data is available for this year.$2.14$1.81$0.33$0.83$0.66$0.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.98$1.82$0.16$0.65$0.61$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.06$1.90$0.16$0.62$0.59$0.03
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$1.91$0.13$0.62$0.64$0.01
2016Detailed filing. Detailed filing data is available for this year.$2.08$1.94$0.14$0.60$0.61$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.10$1.95$0.15$0.53$0.59$0.06