Civic Intelligence

Downtown Raleigh Alliance Inc

990 • Fiscal year 2021 • EIN 56-1994005

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 07, 2022

333 Fayetteville Street Suite 1150Raleigh, NC 27601

(919) 532-1231

Siviq Scores

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

Liabilities / Assets

66th percentile

0.25x

Higher debt load relative to assets than 66% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

40th percentile

0.12x

Higher debt load relative to revenue than 40% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

22nd percentile

0.1%

Higher net margin than 22% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

53rd percentile

$144,667

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

55th percentile

14%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

66th percentile

20%

Faster revenue growth than 66% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,270,940

Up $152,859 (+14%) from 2020

Net Assets

Up

$951,758

Up $3,275 (+0.3%) from 2020

Liabilities

Up

$319,182

Up $149,584 (+88%) from 2020

Revenue

Up

$2,645,621

Up $440,928 (+20%) from 2020

Expenses

Up

$2,642,346

Up $771,730 (+41%) from 2020

Net Income

Down

$3,275

Down $330,802 (-99%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $705,450Liabilities 2011: $229,018Net Assets 2011: $476,4322011Assets 2012: $689,306Liabilities 2012: $177,637Net Assets 2012: $511,6692012Assets 2013: $766,334Liabilities 2013: $198,883Net Assets 2013: $567,4512013Assets 2014: $875,181Liabilities 2014: $252,595Net Assets 2014: $622,5862014Assets 2015: $673,728Liabilities 2015: $167,965Net Assets 2015: $505,7632015Assets 2016: $716,623Liabilities 2016: $182,370Net Assets 2016: $534,2532016Assets 2017: $626,235Liabilities 2017: $172,281Net Assets 2017: $453,9542017Assets 2018: $649,931Liabilities 2018: $135,823Net Assets 2018: $514,1082018Assets 2019: $851,505Liabilities 2019: $237,099Net Assets 2019: $614,4062019Assets 2020: $1,118,081Liabilities 2020: $169,598Net Assets 2020: $948,4832020Assets 2021: $1,270,940Liabilities 2021: $319,182Net Assets 2021: $951,7582021Assets 2022: $1,180,214Liabilities 2022: $157,778Net Assets 2022: $1,022,4362022Assets 2023: $1,726,101Liabilities 2023: $528,479Net Assets 2023: $1,197,6222023Assets 2024: $1,810,181Liabilities 2024: $605,209Net Assets 2024: $1,204,9722024Assets 2025: $1,803,171Liabilities 2025: $640,617Net Assets 2025: $1,162,5542025

Highlighted filing

2021

Assets$1,270,940
Liabilities$319,182
Net Assets$951,758

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,860,9922011Expenses 2012: $1,833,7892012Revenue 2013: $1,975,918Expenses 2013: $1,920,136Net Income 2013: $55,7822013Revenue 2014: $2,118,835Expenses 2014: $2,073,350Net Income 2014: $45,4852014Revenue 2015: $2,215,511Expenses 2015: $2,332,334Net Income 2015: -$116,8232015Revenue 2016: $2,258,735Expenses 2016: $2,230,245Net Income 2016: $28,4902016Revenue 2017: $2,022,908Expenses 2017: $2,103,207Net Income 2017: -$80,2992017Revenue 2018: $2,128,963Expenses 2018: $2,068,809Net Income 2018: $60,1542018Revenue 2019: $1,987,868Expenses 2019: $1,887,551Net Income 2019: $100,3172019Revenue 2020: $2,204,693Expenses 2020: $1,870,616Net Income 2020: $334,0772020Revenue 2021: $2,645,621Expenses 2021: $2,642,346Net Income 2021: $3,2752021Revenue 2022: $2,444,068Expenses 2022: $2,373,390Net Income 2022: $70,6782022Revenue 2023: $3,074,121Expenses 2023: $2,885,176Net Income 2023: $188,9452023Revenue 2024: $3,393,530Expenses 2024: $3,386,180Net Income 2024: $7,3502024Revenue 2025: $4,037,115Expenses 2025: $4,079,533Net Income 2025: -$42,4182025

Highlighted filing

2021

Revenue$2,645,621
Expenses$2,642,346
Net Income$3,275
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 7, 2022
Return Version
2020v4.0
Gross Receipts
$2,645,621
Mission and Program Overview

Mission

Advancing the vitality of downtown raleigh for everyone.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$820,641$744,967▼ $75,674
Cash and Non-Interest-Bearing Accounts$116,265$235,890▲ $119,625
Accounts Receivable$39,514$144,823▲ $105,309
Land, Buildings, and Equipment, Net$108,975$100,070▼ $8,905
Prepaid Expenses and Deferred Charges$22,712$22,468▼ $244
Total Assets$1,118,081$1,270,940▲ $152,859
Other Assets Total$9,974$22,722▲ $12,748
Liabilities
Unsecured Notes Loans Payable-$149,160-
Accounts Payable and Accrued Expenses$111,695$96,518▼ $15,177
Other Liabilities$27,303$49,468▲ $22,165
Deferred Revenue$30,600$24,036▼ $6,564
Total Liabilities$169,598$319,182▲ $149,584
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$948,483$951,758▲ $3,275
Total Net Assets Fund Balance$948,483$951,758▲ $3,275
Total Liabilities and Net Assets / Fund Balance$1,118,081$1,270,940▲ $152,859

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$42,259$230,064$272,323
Leasehold Improvements$57,811-$57,811
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bill KingPresident an$144,667$144,667

Board Members and Trustees

NameTitle
Leon CoxBoard Chair
Bo DempsterBoard Legal
Adrienne ColeBoard Member
Allyson DickensBoard Member
BRIAN O'HAVERBoard Member
Butch HumphreyBoard Member
Carlton Midyette IiiBoard Member
Charlie IbarraBoard Member
Chris DillonBoard Member
Delisa AlexanderBoard Member
Denny EdwardsBoard Member
Doug WarfBoard Member
Evan RaleighBoard Member
Isaac HortonBoard Member
Janet CowellBoard Member
Jason WidenBoard Member
Jim GreeneBoard Member
Joe MeirBoard Member
Larry MillerBoard Member
Matt LilleyBoard Member
Mike SmithBoard Member
Monica BarnesBoard Member
Neil GrayBoard Member
Nicole StewartBoard Member
Robby LawsonBoard Member
Robert DoreaukBoard Member
Sean MaloneBoard Member
Skip HillBoard Member
Sondra CollinsBoard Member
Stephen De MayBoard Member
Susan WoodsonBoard Member
Tyler HeliksonBoard Member
Valerie FieldsBoard Member
Will BarfieldBoard Member
David MeekerBoard Secret
Hayley MortonBoard Treasu
Brian RalphBoard Vice C
Maggie KaneAt-large
Paulette DillardAt-large
Pam BlondinImmediate Pa

Highest Paid Contractors

ContractorServicesLocationCompensation
Streetplus Company LLC-154 CONOVER STREET, Brooklyn, NY 11231$598,385
333 Ventures LLC-333 FAYETTEVILLE STREET SUITE 100, Raleigh, NC 27601$145,013
Revenue and Support

Revenue Composition

Contributions and Grants
$841,467
Program Service Revenue
$1,803,591
Investment Income
$218
Other Revenue
$345
All Other Contributions
$497,367
Change in Net Assets
$3,275
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,488,876
Salaries, Compensation, and Employee Benefits$771,118
Grants and Similar Amounts Paid$382,352
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$596,500$29,951-$626,451
Grants to Domestic Orgs$382,352--$382,352
Advertising$150,381--$150,381
Current Officers, Directors, Trustees, and Key Employees-$144,667-$144,667
Occupancy$102,431$29,985-$132,416
Fees for Services Other$43,860$13,720-$57,580
Depreciation Depletion$40,379$1,305-$41,684
Information Technology$26,215--$26,215
Other Expenses$20,422$1,720-$20,422
All Other Expenses$13,788$3,811-$17,599
Office Expenses$15,010$65-$15,075
Fees for Services Accounting-$13,542-$13,542
Insurance$1,374$5,489-$6,863
Conferences and Meetings$3,394$385-$3,779
Interest$346$180-$526
Total Functional Expenses$2,344,376$297,970$0$2,642,346
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See Attachment 1 for Sch I Detail---$382,352
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
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$26,727
Accrued Vacation$22,741
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
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 11B

The finance manager, president/ceo, and chairman of the board will review the form 990 on behalf of the board of directors with a follow-up provided to the board following the executive review. Any relevant inquiries are made to the organization's external cpa firm to resolve.

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

Any director, officer, or employee of the downtown raleigh alliance who has, or whose relative has, a substantial interest in any contract sale, purchase or service to the downtown raleigh alliance shall make known that interest to the board of directors prior to any action or approval with respect to such contract, sale, purchase or service. Any director who has such an interest, and any director having a relative having such an interest, shall refrain from voting upon or otherwise participating in such transaction.

Form 990, Page 6, Part VI, Line 15A

The organization has a compensation committe which reviews ceo performance annually. The committe consists of the current board chair, the immediate past chair, and the incoming chair. The committee has supplemented their review by referencing the ceo's salary survey created by the international downtown association.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Downtown Raleigh Alliance Inc
EIN
56-1994005
Phone
9195321231
Address
333 FAYETTEVILLE STREET SUITE 1150, RALEIGH, NC 27601

Signing Officer

Name
Bill King
Title
President and CEO
Phone
9195321231
Signed
2022-01-07

Organization Details

Principal Officer
Bill King
Formed
1996
Legal Domicile
Nc
Voting Board Members
40
Independent Board Members
39
Employees
14

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 510, CHARLOTTE, NC 28203-4489
Preparer
Megan Rushford CPA
Phone
7044993893
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

The service & engagement program fosters a welcoming and safe environment in downtown through the efforts of 12 safety and community ambassadors, as of june 30, 2020, who patrol the streets and sidewalks on foot, seven days a week, providing a strong, uniform presence and elevating a sense of security. Clad in highly visible, blue uniforms and equipped with hand-held radios, the ambassadors also patrol the central city streets serving as supplementary "eyes and ears" for the downtown division of the raleigh police department. In addition, the safety team continues to increase interactions with the community by providing ongoing safety presentations with businesses and community groups, preparing new employees moving into the downtown, and through monthly meetings with the raleigh police district captain to strategize ways to lower crime. In fy-20, the safety ambassadors performed the following services: 886 safety escorts, 37,462 business and hot spot checks plus 1,535 other hospitality assists including giving directions, dining recommendations, and helping individuals find their cars, along with 12,629 hours patrolling parking decks/lots.

Form 990, Page 2, Part III, Line 4B

The primary goals of storefront development program are to contribute to downtown's economic success by attracting new businesses to vacant storefronts, provide market data to attract new investment and employers, and provide new opportunities and resources to diverse set of businesses and entrepreneurs. Dra monitors six pedestrian counters in downtown to measure foot traffic to help attract tenants and aid land use decisions. Dra continued its retail up-fit grant with the goal of creating an incentive to attract new retail or aid in the expansion of existing retail in downtown raleigh. Dra awarded one grant in fy-20, totaling 7,500. In partnership with the city of raleigh's economic development office and the planning department, our economic development staff actively works with retail brokers and landlords to fill storefront spaces in downtown. In fy- 20, 44 new street level businesses opened, adding new jobs and expanding tax revenues with 16 new businesses helping to build clusters or address gaps, with 10 of those new businesses being new retail. Dra continued its partnership with wake tech to provide pop-up space to minority and women- owned businesses with one successful pop-up established through the program. Dra also held 4 small business workshops, including one workshop focused specifically on minority and women-owned business support. The economic data and analysis tracking each year is then translated into dra's state of downtown report. The report includes market trends, population data and projections, data on downtown development, and overviews of everything downtown. The report compliments our state of downtown annual event, attended by over 600 of downtown's top business leaders and members of the community. Dra's marketing platform serves to engage our stakeholders, influencers, and the public to heighten visibility of our organization and recognize downtown as a vibrant and vital urban center. The alliance produces 15 communication campaigns and 14 stand-alone program websites. The we are downtown video series, which highlighted over a dozen small businesses and their owners, served to connect raleigh's community as the covid-19 pandemic grew. Dra's annual restaurant week, ig live, and shop local campaigns served as further outreach. In addition, the organization has attracted close to 192,000 followers through its facebook, twitter, instagram, and linkedin accounts for organizational and individual program accounts. The downtown app was downloaded by 1,006 individuals. The dra events calendar averaged 3,000 page views per month due to the impacts of covid-19 and associated quarantine phase. Over 200 businesses were promoted through dra's communications channels including social media accounts and newsletters with a combined more than 15,000 subscribers. Dra's newsletter average open rate is higher than the industry average at 22%. Dra also began implementation of a robust update of the website devoted to covid-19 resources. These ranged from a comprehensive listing of restaurant status updates, curbside pickup zones, how to help, small business support information and small business resources.

Form 990, Page 2, Part III, Line 4D

The beautification and connectivity program provides public art and beautification projects such as murals, along with initiatives to improve accessibility and connectivity in downtown, related to bicycle, pedestrian and parking infrastructure. In fy-20, dra also added 11 murals to beautify areas throughout downtown. Dra also provided community meetings and support for improvements in accessibility, changes to downtown parking and advocacy for new bike lanes in downtown. The primary goal of the advocacy & sustainability program is to bring together over 2,000 stakeholders and members that support dra's municipal services district to collaborate for the benefit of the city. Dra brings these groups together through town hall meetings, large corporate events, and by providing strategic resources to encourage growth in downtown raleigh. Dra held 3 town halls called downtown rundowns, including 1 virtual, plus 2 city information sessions and 15 discover downtown tours to share information on developments and businesses in downtown raleigh. Dra staff attended 40 community meetings and worked on 26 issues referred by city council and/or staff. More than 50 companies are annual investors in dra with nearly 53 additional friends of downtown raleigh members.

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IRS990/Desc0THE SERVICE & ENGAGEMENT PROGRAM FOSTERS A WELCOMING AND SAFE ENVIRONMENT IN DOWNTOWN THROUGH THE EFFORTS OF 12 SAFETY AND COMMUNITY AMBASSADORS, AS OF JUNE 30, 2020, WHO PATROL THE STREETS AND SIDEWALKS ON FOOT, SEVEN DAYS A WEEK, PROVIDING A STRONG, UNIFORM PRESENCE AND ELEVATING A SENSE OF SECURITY. CLAD IN HIGHLY VISIBLE, BLUE UNIFORMS AND EQUIPPED WITH HAND-HELD RADIOS, THE AMBASSADORS ALSO PATROL THE CENTRAL CITY STREETS SERVING AS SUPPLEMENTARY "EYES AND EARS" FOR THE DOWNTOWN DIVISION OF THE RALEIGH POLICE DEPARTMENT. IN ADDITION, THE SAFETY TEAM CONTINUES TO INCREASE INTERACTIONS WITH THE COMMUNITY BY PROVIDING ONGOING SAFETY PRESENTATIONS WITH BUSINESSES AND COMMUNITY GROUPS, PREPARING NEW EMPLOYEES MOVING INTO THE DOWNTOWN, AND THROUGH MONTHLY MEETINGS WITH THE RALEIGH POLICE DISTRICT CAPTAIN TO STRATEGIZE WAYS TO LOWER CRIME. IN FY-20, THE SAFETY AMBASSADORS PERFORMED THE FOLLOWING SERVICES: 886 SAFETY ESCORTS, 37,462 BUSINESS AND HOT SPOT CHECKS PLUS 1,535 OTHER HOSPITALITY ASSISTS INCLUDING GIVING DIRECTIONS, DINING RECOMMENDATIONS, AND HELPING INDIVIDUALS FIND THEIR CARS, ALONG WITH 12,629 HOURS PATROLLING PARKING DECKS/LOTS.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.80$0.64$1.16$4.04$4.08$0.04
2024Detailed filing. Detailed filing data is available for this year.$1.81$0.61$1.20$3.39$3.39$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.73$0.53$1.20$3.07$2.89$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.18$0.16$1.02$2.44$2.37$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.27$0.32$0.95$2.65$2.64$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.12$0.17$0.95$2.20$1.87$0.33
2019Detailed filing. Detailed filing data is available for this year.$0.85$0.24$0.61$1.99$1.89$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.65$0.14$0.51$2.13$2.07$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.63$0.17$0.45$2.02$2.10$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.72$0.18$0.53$2.26$2.23$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.67$0.17$0.51$2.22$2.33$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.88$0.25$0.62$2.12$2.07$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.20$0.57$1.98$1.92$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.18$0.51$1.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.23$0.48$1.86