Civic Intelligence

Capitol Area Developments Inc.

990 • Fiscal year 2017 • EIN 58-1888268

Apr 01, 2016 to Mar 31, 2017 • Filed on Aug 03, 2017

Organization ProfileN/A
900 Haynes StreetRaleigh, NC 27604

(919) 831-8300

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.38x

Higher debt load relative to assets than 62% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

81st percentile

1.31x

Higher debt load relative to revenue than 81% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

94th percentile

60%

Higher net margin than 94% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M 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

91st percentile

30%

Faster asset growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

95th percentile

139%

Faster revenue growth than 95% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$26,826,159

Up $6,160,901 (+30%) from 2016

Net Assets

Up

$16,568,017

Up $4,741,136 (+40%) from 2016

Liabilities

Up

$10,258,142

Up $1,419,765 (+16%) from 2016

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin94th percentile

Revenue

Up

$7,846,978

Up $4,562,956 (+139%) from 2016

Expenses

Up

$3,105,842

Up $427,135 (+16%) from 2016

Net Income

Up

$4,741,136

Up $4,135,821 (+683%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$40M$30M$20M$10M$0Assets 2011: $10,789,438Liabilities 2011: $3,669,599Net Assets 2011: $7,119,8392011Assets 2012: $11,625,144Liabilities 2012: $3,181,360Net Assets 2012: $8,443,7842012Assets 2013: $11,944,265Liabilities 2013: $2,232,382Net Assets 2013: $9,711,8832013Assets 2014: $15,059,846Liabilities 2014: $4,235,838Net Assets 2014: $10,824,0082014Assets 2015: $20,632,613Liabilities 2015: $9,390,462Net Assets 2015: $11,242,1512015Assets 2016: $20,665,258Liabilities 2016: $8,838,377Net Assets 2016: $11,826,8812016Assets 2017: $26,826,159Liabilities 2017: $10,258,142Net Assets 2017: $16,568,0172017Assets 2018: $27,082,693Liabilities 2018: $9,509,201Net Assets 2018: $17,573,4922018Assets 2019: $27,406,617Liabilities 2019: $8,576,931Net Assets 2019: $18,829,6862019Assets 2020: $27,544,848Liabilities 2020: $7,556,661Net Assets 2020: $19,988,1872020Assets 2021: $27,771,934Liabilities 2021: $6,462,838Net Assets 2021: $21,309,0962021Assets 2022: $27,712,082Liabilities 2022: $5,214,867Net Assets 2022: $22,497,2152022Assets 2023: $28,256,102Liabilities 2023: $4,708,812Net Assets 2023: $23,547,2902023Assets 2024: $31,890,993Liabilities 2024: $3,112,838Net Assets 2024: $28,778,1552024Assets 2025: $34,459,533Liabilities 2025: $4,449,992Net Assets 2025: $30,009,5412025

Highlighted filing

2017

Assets$26,826,159
Liabilities$10,258,142
Net Assets$16,568,017
Open 2017 Filing

Operations Trend

Revenue Growth95th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2011: $1,660,6502011Expenses 2012: $1,808,5692012Expenses 2013: $1,604,7832013Revenue 2014: $2,891,758Expenses 2014: $1,779,633Net Income 2014: $1,112,1252014Revenue 2015: $2,487,872Expenses 2015: $2,069,729Net Income 2015: $418,1432015Revenue 2016: $3,284,022Expenses 2016: $2,678,707Net Income 2016: $605,3152016Revenue 2017: $7,846,978Expenses 2017: $3,105,842Net Income 2017: $4,741,1362017Revenue 2018: $4,381,640Expenses 2018: $3,369,843Net Income 2018: $1,011,7972018Revenue 2019: $4,525,945Expenses 2019: $3,330,989Net Income 2019: $1,194,9562019Revenue 2020: $4,604,663Expenses 2020: $3,446,162Net Income 2020: $1,158,5012020Revenue 2021: $4,473,127Expenses 2021: $3,152,218Net Income 2021: $1,320,9092021Revenue 2022: $4,490,893Expenses 2022: $3,302,774Net Income 2022: $1,188,1192022Revenue 2023: $4,613,273Expenses 2023: $3,563,198Net Income 2023: $1,050,0752023Revenue 2024: $5,422,494Expenses 2024: $4,255,775Net Income 2024: $1,166,7192024Revenue 2025: $5,831,627Expenses 2025: $4,600,241Net Income 2025: $1,231,3862025

Highlighted filing

2017

Revenue$7,846,978
Expenses$3,105,842
Net Income$4,741,136
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2016 to Mar 31, 2017
Signed
Aug 3, 2017
Return Version
2016v3.0
Gross Receipts
$7,846,978
Mission and Program Overview

Mission

Provides housing to low to moderate income families

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,403,685$19,738,268▲ $4,334,583
Rtn Earn Endowment Incm Other Fnds$11,826,881$16,568,017▲ $4,741,136
Savings and Temporary Cash Investments$3,255,310$5,025,909▲ $1,770,599
Cash and Non-Interest-Bearing Accounts$1,649,337$1,673,322▲ $23,985
Other Notes and Loans Receivable, Net$193,244$149,660▼ $43,584
Prepaid Expenses and Deferred Charges$55,976$77,568▲ $21,592
Investments Program Related$29,032$30,000▲ $968
Inventories for Sale or Use$10,596$27,389▲ $16,793
Accounts Receivable$9,080$7,301▼ $1,779
Total Assets$20,665,258$26,826,159▲ $6,160,901
Other Assets Total$58,998$96,742▲ $37,744
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,403,343$6,882,438▲ $479,095
Other Liabilities$2,345,659$3,281,359▲ $935,700
Accounts Payable and Accrued Expenses$38,851$50,500▲ $11,649
Deferred Revenue$50,524$43,845▼ $6,679
Total Liabilities$8,838,377$10,258,142▲ $1,419,765
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,826,881$16,568,017▲ $4,741,136
Total Liabilities and Net Assets / Fund Balance$20,665,258$26,826,159▲ $6,160,901

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,351,646$11,156,476$29,508,122
Land$1,314,875-$1,314,875
Equipment$71,747$444,724$516,471
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Joel WhitleyBoard Chair
Don CarothersBoard Direct
Tj BarringerBoard Direct
Hilda HoldsclawBoard Vice C
Suzy BryanAsst. Secret
Jennifer MorganSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$4,052,536
Program Service Revenue
$3,776,463
Investment Income
$18,011
Other Revenue
$-32
All Other Contributions
$4,052,536
Change in Net Assets
$4,741,136

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential1$4,052,536
Total Noncash Contributions1$4,052,536

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,846,978
Total Revenue per Audited Statements
$7,846,978
Total Revenue per Form 990
$7,846,978
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,105,842
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,100,837--$1,100,837
Fees for Services Management$321,572--$321,572
Interest$172,967--$172,967
Occupancy$93,888--$93,888
Insurance$79,684--$79,684
All Other Expenses$35,852--$35,852
Fees for Services Legal$29,993--$29,993
Fees for Services Accounting$15,485--$15,485
Other Expenses$12,928--$12,928
Travel$1,994--$1,994
Advertising$530--$530
Total Functional Expenses$3,105,842$0$0$3,105,842

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,105,842
Total Expenses per Audited Statements$3,105,842
Total Expenses per Form 990$3,105,842
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
Other Note Payable$2,841,895
Tenant Security Deposits$364,713
Non Current Accrued Expenses$71,131
Deferred Inflows$3,620
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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 11B

“Copies of the return are provided to the board prior to filing. Tax return is reviewed and approved for filing by the ceo.”

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

“The policy is monitored by the ceo.”

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

“Organization has no employees; however, certain individuals employed through raleigh housing authority have their salary or a portion of their salary expensed to the organization.”

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

“Organization has no employees; however, certain individuals employed through raleigh housing authority have their salary or a portion of their salary expensed to the organization.”

Form 990, Page 6, Part VI, Line 19

“The documents are made available upon request and/or form 4506-a through www.irs.gov.”

Filing and Contact Details

Filer

Filer Name
Capitol Area Developments Inc
EIN
58-1888268
Phone
9198318300
Address
900 HAYNES STREET, RALEIGH, NC 27604

Signing Officer

Name
Jennifer Morgan
Title
Secretary
Phone
9198318300
Signed
2017-08-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Morgan
Formed
1984
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
1255 LAKES PKWY STE 375, LAWRENCEVILLE, GA 30043-8909
Preparer
Mary Beth Smith CPA
Phone
7708798411
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02891793
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02872882
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt018351646
IRS990ScheduleD/BuildingsGrp/DepreciationAmt011156476
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt029508122
IRS990ScheduleD/EquipmentGrp/BookValueAmt071747
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0444724
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0516471
IRS990ScheduleD/ExpensesSubtotalAmt03105842
IRS990ScheduleD/LandGrp/BookValueAmt01314875
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01314875
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02841895
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1364713
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt271131
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt33620
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER NOTE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NON CURRENT ACCRUED EXPENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DEFERRED INFLOWS
IRS990ScheduleD/RevenueSubtotalAmt07846978
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019738268
IRS990ScheduleD/TotalExpensesPerForm990Amt03105842
IRS990ScheduleD/TotalLiabilityAmt03281359
IRS990ScheduleD/TotalRevenuePerForm990Amt07846978
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07846978
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03105842
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt04052536
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COPIES OF THE RETURN ARE PROVIDED TO THE BOARD PRIOR TO FILING. TAX RETURN IS REVIEWED AND APPROVED FOR FILING BY THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POLICY IS MONITORED BY THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION HAS NO EMPLOYEES; HOWEVER, CERTAIN INDIVIDUALS EMPLOYED THROUGH RALEIGH HOUSING AUTHORITY HAVE THEIR SALARY OR A PORTION OF THEIR SALARY EXPENSED TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ORGANIZATION HAS NO EMPLOYEES; HOWEVER, CERTAIN INDIVIDUALS EMPLOYED THROUGH RALEIGH HOUSING AUTHORITY HAVE THEIR SALARY OR A PORTION OF THEIR SALARY EXPENSED TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST AND/OR FORM 4506-A THROUGH WWW.IRS.GOV.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0CAD INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0HALIFAX SENIOR HOUSING LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0562192169
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt05811441
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0AFFORD HSG
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0206110
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0RALEIGH
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NC
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0CHAVIS SENIOR HOUSING LLC
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0149660
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt020665258
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IRS990/TotalContributionsAmt04052536
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08838377
IRS990/TotalLiabilitiesEOYAmt010258142
IRS990/TotalLiabilitiesGrp/BOYAmt08838377
IRS990/TotalLiabilitiesGrp/EOYAmt010258142
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011826881
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt016568017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,826,159
Liabilities
$10,258,142
Net assets
$16,568,017
Revenue
$7,846,978
Expenses
$3,105,842
Net income
$4,741,136
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$34.5$4.45$30.0$5.83$4.60$1.23
2024Detailed filing. Detailed filing data is available for this year.$31.9$3.11$28.8$5.42$4.26$1.17
2023Detailed filing. Detailed filing data is available for this year.$28.3$4.71$23.5$4.61$3.56$1.05
2022Detailed filing. Detailed filing data is available for this year.$27.7$5.21$22.5$4.49$3.30$1.19
2021Detailed filing. Detailed filing data is available for this year.$27.8$6.46$21.3$4.47$3.15$1.32
2020Detailed filing. Detailed filing data is available for this year.$27.5$7.56$20.0$4.60$3.45$1.16
2019Detailed filing. Detailed filing data is available for this year.$27.4$8.58$18.8$4.53$3.33$1.19
2018Detailed filing. Detailed filing data is available for this year.$27.1$9.51$17.6$4.38$3.37$1.01
2017Detailed filing. Detailed filing data is available for this year.$26.8$10.3$16.6$7.85$3.11$4.74
2016Detailed filing. Detailed filing data is available for this year.$20.7$8.84$11.8$3.28$2.68$0.61
2015Detailed filing. Detailed filing data is available for this year.$20.6$9.39$11.2$2.49$2.07$0.42
2014Detailed filing. Detailed filing data is available for this year.$15.1$4.24$10.8$2.89$1.78$1.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$2.23$9.71$1.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$3.18$8.44$1.81
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$3.67$7.12$1.66