Civic Intelligence

Durham Realty Inc

990 • Fiscal year 2022 • EIN 56-1917936

Jul 01, 2021 to Jun 30, 2022 • Filed on May 01, 2023

324 Blackwell St Washin Bldg 85Durham, NC 27701

(919) 684-2006

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

7th percentile

0.02x

Higher debt load relative to revenue than 7% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

10th percentile

-19%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

74th percentile

$551,045

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 18.2% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

50th percentile

-0.9%

Faster asset growth than 50% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-86%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Down

$65,948,448

Down $629,961 (-0.9%) from 2021

Net Assets

Down

$65,886,294

Down $690,975 (-1.0%) from 2021

Liabilities

Up

$62,154

Up $61,014 (+5352%) from 2021

Revenue

Down

$3,034,485

Down $18,801,470 (-86%) from 2021

Expenses

Down

$3,612,480

Down $5,684,159 (-61%) from 2021

Net Income

Down

-$577,995

Down $13,117,311 (-105%) from 2021

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $3,440,393Liabilities 2011: $0Net Assets 2011: $3,440,3932011Assets 2012: $11,714,725Liabilities 2012: $8,507Net Assets 2012: $11,706,2182012Assets 2013: $10,771,272Liabilities 2013: $100,244Net Assets 2013: $10,671,0282013Assets 2014: $7,303,492Liabilities 2014: $196,548Net Assets 2014: $7,106,9442014Assets 2015: $6,550,384Liabilities 2015: $76,088Net Assets 2015: $6,474,2962015Assets 2016: $5,542,338Liabilities 2016: $184,158Net Assets 2016: $5,358,1802016Assets 2017: $55,386,624Liabilities 2017: $8,927Net Assets 2017: $55,377,6972017Assets 2018: $57,002,928Liabilities 2018: $2,094Net Assets 2018: $57,000,8342018Assets 2019: $56,009,495Liabilities 2019: $20,855Net Assets 2019: $55,988,6402019Assets 2020: $53,292,886Liabilities 2020: $0Net Assets 2020: $53,292,8862020Assets 2021: $66,578,409Liabilities 2021: $1,140Net Assets 2021: $66,577,2692021Assets 2022: $65,948,448Liabilities 2022: $62,154Net Assets 2022: $65,886,2942022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2022

Assets$65,948,448
Liabilities$62,154
Net Assets$65,886,294

Operations Trend

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

$60M$40M$20M$0-$20M-$40MRevenue 2011: $332,890Expenses 2011: $1,108,042Net Income 2011: -$775,1522011Revenue 2012: $9,477,546Expenses 2012: $1,154,240Net Income 2012: $8,323,3062012Revenue 2013: $443,453Expenses 2013: $1,601,728Net Income 2013: -$1,158,2752013Revenue 2014: $134,525Expenses 2014: $3,941,460Net Income 2014: -$3,806,9352014Revenue 2015: $131,282Expenses 2015: $765,734Net Income 2015: -$634,4522015Revenue 2016: $457,657Expenses 2016: $1,446,655Net Income 2016: -$988,9982016Revenue 2017: $51,587,673Expenses 2017: $1,701,263Net Income 2017: $49,886,4102017Revenue 2018: $4,993,532Expenses 2018: $3,521,840Net Income 2018: $1,471,6922018Revenue 2019: $2,001,359Expenses 2019: $3,062,091Net Income 2019: -$1,060,7322019Revenue 2020: $262,590Expenses 2020: $2,668,056Net Income 2020: -$2,405,4662020Revenue 2021: $21,835,955Expenses 2021: $9,296,639Net Income 2021: $12,539,3162021Revenue 2022: $3,034,485Expenses 2022: $3,612,480Net Income 2022: -$577,9952022Revenue 2023: $81,890Expenses 2023: $23,281,808Net Income 2023: -$23,199,9182023

Highlighted filing

2022

Revenue$3,034,485
Expenses$3,612,480
Net Income-$577,995
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 1, 2023
Return Version
2021v4.2
Gross Receipts
$6,878,142
Mission and Program Overview

Mission

SUPPORT DUKE UNIVERSITY.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$66,577,269$65,886,294▼ $690,975
Land, Buildings, and Equipment, Net$63,255,610$42,189,424▼ $21,066,186
Cash and Non-Interest-Bearing Accounts$997,105$21,366,093▲ $20,368,988
Investments Other Securities$2,238,900$2,125,920▼ $112,980
Accounts Receivable$296$252,875▲ $252,579
Prepaid Expenses and Deferred Charges$32,635$14,136▼ $18,499
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$66,578,409$65,948,448▼ $629,961
Other Assets Total$53,863$0▼ $53,863
Liabilities
Accounts Payable and Accrued Expenses$1,140$62,154▲ $61,014
Total Liabilities$1,140$62,154▲ $61,014
Net Assets / Fund Balance
Total Net Assets Fund Balance$66,577,269$65,886,294▼ $690,975
Total Liabilities and Net Assets / Fund Balance$66,578,409$65,948,448▼ $629,961

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$36,970,492$9,118,086-
Land$5,218,932--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rachel SatterfieldDirector/president
Constance BadgerDirector/vice President
Scott F SeligDirector/secretary
Victoria L NevoisDirector/treasurer
David SingletonFormer Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,088,669
Program Service Revenue
$0
Investment Income
$122,768
Other Revenue
$823,048
Change in Net Assets
$-577,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,731,351
Grants and Similar Amounts Paid$881,129
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$2,683,792--$2,683,792
Grants to Domestic Orgs$881,129--$881,129
Fees for Services Legal$42,507--$42,507
Other Expenses$189--$189
Total Functional Expenses$3,612,480$0$0$3,612,480
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Duke UniversityDurham, NC501 (c) (3)General Support$881,129
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
Audit committee
No
Backup withholding compliance
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Victoria l. Nevois served as an officer of duke university during fiscal year ending june 30, 2022. The following directors and officers of durham realty, inc. Were also employees of duke university during fiscal year ending june 30, 2022: rachel satterfield, scott f. Selig and constance badger.

Form 990, Part VI, Section A, Line 7A

The members of the board of directors of durham realty, inc., shall be elected or appointed, and subject to removal by the board of trustees of duke university.

Form 990, Part VI, Section A, Line 7B

Decisions of the governing body are subject to approval by the board of trustees of duke university.

Form 990, Part VI, Section B, Line 11B

Durham realty, inc. Provides the members of the governing body with a draft of the form 990 for individual review and comment prior to filing.

Form 990, Part VI, Section C, Line 18

In addition to providing the organization's form 990 upon request, the organization's form 990 is available to the public on several third party websites. While the organization does not provide the form 990 directly to these third parties, the form 990 is obtained from the internal revenue service. The third parties subsequently and independently provide access to the form 990 on their platform.

Form 990, Part VI, Section C, Line 19

Durham realty, inc.'s governing documents (articles of incorporation and any subsequent amendments or restatements) are available to the public on the north carolina secretary of state website. The organization does not have a conflict of interest policy. Durham realty, inc. Is included in the consolidated, independently audited financial statements of duke university, which are available at https://resources.finance.duke.edu/resources/docs/ financial_reports2021-2022.pdf (weblink must be input in all lower case letters).

Form 990, Part VIII, Line 7 - Gain or (loss) on Securities & Other Assets

Column (a)- securities: duke university, and therefore durham realty, inc., manages its investment funds in accordance with the uniform prudent management of institutional funds act of north carolina. As permitted by the act, the university, and therefore durham realty, inc., utilizes two investment pools to invest its funds and these funds operate on a total return concept.

Filing and Contact Details

Filer

Filer Name
Durham Realty Inc
EIN
56-1917936
Phone
9196842006
Address
324 BLACKWELL ST WASHIN BLDG 85, DURHAM, NC 27701

Signing Officer

Name
Rachel Satterfield
Title
President
Phone
9196842006
Signed
2023-05-01

Organization Details

Principal Officer
Rachel L Satterfield
Formed
1991
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
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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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DUKE UNIVERSITY
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IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0881129
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt09118086
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IRS990ScheduleD/LandGrp/BookValueAmt05218932
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt05218932
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (C) (3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DUKE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientEIN0560532129
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0324 BLACKWELL STREET SUITE 850
IRS990ScheduleI/RecipientTable/USAddress/CityNm0DURHAM
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd027701
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0DURHAM REALTY, INC. IS A SUPPORTING ORGANIZATION TO DUKE UNIVERSITY. IN FURTHERANCE OF ITS SUPPORT TO DUKE UNIVERSITY, DURHAM REALTY, INC. GRANTS FUNDING TO DUKE UNIVERSITY. BOARD MEMBER AND TREASURER OF DURHAM REALTY, INC., VICTORIA L. NEVOIS, HAS AUTHORITY GRANTED BY THE BOARD TO REVIEW THE FINANCIAL INFORMATION AND APPROVE GRANT FUNDS TO DUKE UNIVERSITY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt335296
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt420757
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt48202
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt219500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RACHEL SATTERFIELD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1DAVID SINGLETON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2VICTORIA L NEVOIS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3SCOTT F SELIG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4CONSTANCE BADGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR/PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1FORMER OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2DIRECTOR/TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3DIRECTOR/SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4DIRECTOR/VICE PRESIDENT
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VICTORIA L. NEVOIS SERVED AS AN OFFICER OF DUKE UNIVERSITY DURING FISCAL YEAR ENDING JUNE 30, 2022. THE FOLLOWING DIRECTORS AND OFFICERS OF DURHAM REALTY, INC. WERE ALSO EMPLOYEES OF DUKE UNIVERSITY DURING FISCAL YEAR ENDING JUNE 30, 2022: RACHEL SATTERFIELD, SCOTT F. SELIG AND CONSTANCE BADGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE BOARD OF DIRECTORS OF DURHAM REALTY, INC., SHALL BE ELECTED OR APPOINTED, AND SUBJECT TO REMOVAL BY THE BOARD OF TRUSTEES OF DUKE UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE BOARD OF TRUSTEES OF DUKE UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DURHAM REALTY, INC. PROVIDES THE MEMBERS OF THE GOVERNING BODY WITH A DRAFT OF THE FORM 990 FOR INDIVIDUAL REVIEW AND COMMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IN ADDITION TO PROVIDING THE ORGANIZATION'S FORM 990 UPON REQUEST, THE ORGANIZATION'S FORM 990 IS AVAILABLE TO THE PUBLIC ON SEVERAL THIRD PARTY WEBSITES. WHILE THE ORGANIZATION DOES NOT PROVIDE THE FORM 990 DIRECTLY TO THESE THIRD PARTIES, THE FORM 990 IS OBTAINED FROM THE INTERNAL REVENUE SERVICE. THE THIRD PARTIES SUBSEQUENTLY AND INDEPENDENTLY PROVIDE ACCESS TO THE FORM 990 ON THEIR PLATFORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DURHAM REALTY, INC.'S GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND ANY SUBSEQUENT AMENDMENTS OR RESTATEMENTS) ARE AVAILABLE TO THE PUBLIC ON THE NORTH CAROLINA SECRETARY OF STATE WEBSITE. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY. DURHAM REALTY, INC. IS INCLUDED IN THE CONSOLIDATED, INDEPENDENTLY AUDITED FINANCIAL STATEMENTS OF DUKE UNIVERSITY, WHICH ARE AVAILABLE AT HTTPS://RESOURCES.FINANCE.DUKE.EDU/RESOURCES/DOCS/ FINANCIAL_REPORTS2021-2022.PDF (WEBLINK MUST BE INPUT IN ALL LOWER CASE LETTERS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COLUMN (A)- SECURITIES: DUKE UNIVERSITY, AND THEREFORE DURHAM REALTY, INC., MANAGES ITS INVESTMENT FUNDS IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF NORTH CAROLINA. AS PERMITTED BY THE ACT, THE UNIVERSITY, AND THEREFORE DURHAM REALTY, INC., UTILIZES TWO INVESTMENT POOLS TO INVEST ITS FUNDS AND THESE FUNDS OPERATE ON A TOTAL RETURN CONCEPT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VIII, LINE 7 - GAIN OR (LOSS) ON SECURITIES & OTHER ASSETS
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.08$23.3$23.2
2022Detailed filing. Detailed filing data is available for this year.$65.9$0.06$65.9$3.03$3.61$0.58
2021Detailed filing. Detailed filing data is available for this year.$66.6$0.00$66.6$21.8$9.30$12.5
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.3$0.00$53.3$0.26$2.67$2.41
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$56.0$0.02$56.0$2.00$3.06$1.06
2018Summary only. Only limited summary data is available for this year.$57.0$0.00$57.0$4.99$3.52$1.47
2017Summary only. Only limited summary data is available for this year.$55.4$0.01$55.4$51.6$1.70$49.9
2016Summary only. Only limited summary data is available for this year.$5.54$0.18$5.36$0.46$1.45$0.99
2015Summary only. Only limited summary data is available for this year.$6.55$0.08$6.47$0.13$0.77$0.63
2014Summary only. Only limited summary data is available for this year.$7.30$0.20$7.11$0.13$3.94$3.81
2013Summary only. Only limited summary data is available for this year.$10.8$0.10$10.7$0.44$1.60$1.16
2012Summary only. Only limited summary data is available for this year.$11.7$0.01$11.7$9.48$1.15$8.32
2011Summary only. Only limited summary data is available for this year.$3.44$0.00$3.44$0.33$1.11$0.78
Peer Organizations

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