Civic Intelligence

Rites of Passage Development Inc.

990 • Fiscal year 2022 • EIN 74-2744850

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 30, 2023

Organization ProfileN/A
6510 Berkman DriveAustin, TX 78723-1939

(512) 454-6170

Siviq Scores

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

Liabilities / Assets

75th percentile

0.05x

Higher debt load relative to assets than 75% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

73rd percentile

0.03x

Higher debt load relative to revenue than 73% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

70th percentile

20%

Higher net margin than 70% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

86th percentile

60%

Faster asset growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

10th percentile

-56%

Faster revenue growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$161,628

Up $60,847 (+60%) from 2021

Net Assets

Up

$153,331

Up $136,871 (+832%) from 2021

Liabilities

Down

$8,297

Down $76,024 (-90%) from 2021

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin70th percentile

Revenue

Down

$311,681

Down $392,887 (-56%) from 2021

Expenses

Down

$250,551

Down $435,919 (-64%) from 2021

Net Income

Up

$61,130

Up $43,032 (+238%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$1.0M$500K$0-$500KAssets 2011: $488,908Liabilities 2011: $54,264Net Assets 2011: $434,6442011Assets 2012: $487,710Liabilities 2012: $64,371Net Assets 2012: $423,3392012Assets 2013: $497,319Liabilities 2013: $10,860Net Assets 2013: $486,4592013Assets 2014: $462,389Liabilities 2014: $1,825Net Assets 2014: $460,5642014Assets 2015: $463,267Liabilities 2015: $16,892Net Assets 2015: $446,3752015Assets 2016: $477,042Liabilities 2016: $29,035Net Assets 2016: $448,0072016Assets 2017: $464,413Liabilities 2017: $40,828Net Assets 2017: $423,5852017Assets 2018: $461,828Liabilities 2018: $250,600Net Assets 2018: $211,2282018Assets 2019: $439,339Liabilities 2019: $433,898Net Assets 2019: $5,4412019Assets 2020: $449,915Liabilities 2020: $643,910Net Assets 2020: -$193,9952020Assets 2021: $100,781Liabilities 2021: $84,321Net Assets 2021: $16,4602021Assets 2022: $161,628Liabilities 2022: $8,297Net Assets 2022: $153,3312022Assets 2023: $210,817Liabilities 2023: $10,020Net Assets 2023: $200,7972023Assets 2024: $168,356Liabilities 2024: $8,707Net Assets 2024: $159,6492024

Highlighted filing

2022

Assets$161,628
Liabilities$8,297
Net Assets$153,331
Open 2022 Filing

Operations Trend

Revenue Growth10th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $133,183Expenses 2011: $150,285Net Income 2011: -$17,1022011Revenue 2012: $131,080Expenses 2012: $158,629Net Income 2012: -$27,5492012Revenue 2013: $101,118Expenses 2013: $112,847Net Income 2013: -$11,7292013Revenue 2014: $158,731Expenses 2014: $184,626Net Income 2014: -$25,8952014Revenue 2015: $63,739Expenses 2015: $77,928Net Income 2015: -$14,1892015Revenue 2016: $87,994Expenses 2016: $86,362Net Income 2016: $1,6322016Revenue 2017: $63,301Expenses 2017: $87,723Net Income 2017: -$24,4222017Revenue 2018: $145,649Expenses 2018: $153,119Net Income 2018: -$7,4702018Revenue 2019: $172,740Expenses 2019: $378,527Net Income 2019: -$205,7872019Revenue 2020: $193,084Expenses 2020: $392,520Net Income 2020: -$199,4362020Revenue 2021: $704,568Expenses 2021: $686,470Net Income 2021: $18,0982021Revenue 2022: $311,681Expenses 2022: $250,551Net Income 2022: $61,1302022Revenue 2023: $211,708Expenses 2023: $183,549Net Income 2023: $28,1592023Revenue 2024: $166,752Expenses 2024: $198,117Net Income 2024: -$31,3652024

Highlighted filing

2022

Revenue$311,681
Expenses$250,551
Net Income$61,130
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 30, 2023
Return Version
2022v5.0
Gross Receipts
$311,681
Mission and Program Overview

Mission

Assist low income families with affordable housing needs

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$39,342$100,660▲ $61,318
Land, Buildings, and Equipment, Net$61,439$61,010▼ $429
Pledges and Grants Receivable-$-42-
Total Assets$100,781$161,628▲ $60,847
Liabilities
Other Liabilities$84,321$8,297▼ $76,024
Total Liabilities$84,321$8,297▼ $76,024
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,460$153,331▲ $136,871
Total Net Assets Fund Balance$16,460$153,331▲ $136,871
Total Liabilities and Net Assets / Fund Balance$100,781$161,628▲ $60,847

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$348,210$348,210
Land$61,010-$61,010
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Sterling Lands IiPresident/CEO
Charles HenryMember
James HutchingsMember
Michael WhiteMember
Nikki SimmsMember
Sunny UzuhMember
Terry SmithMember
Thresa CowanMember
Troy OfficerMember
Mary L ThomasSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$100,000
Program Service Revenue
$5,559
Investment Income
$0
Other Revenue
$206,122
All Other Contributions
$100,000
Change in Net Assets
$61,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$250,551
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
Other Expenses$84,522--$84,522
Fees for Services Management$51,677--$51,677
Occupancy$40,047--$40,047
Insurance$26,358--$26,358
Office Expenses$4,219--$4,219
Interest$1,177--$1,177
Depreciation Depletion$429--$429
Total Functional Expenses$250,551$0$0$250,551
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
Federal income taxes$8,297
Other liabilities-
Security deposit-
Loan payable Frost Bank-
City of Austin-
CIP Loan-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Filing and Contact Details

Filer

Filer Name
Rites of Passage Development Inc
EIN
74-2744850
Phone
5124546170
Address
6510 BERKMAN DRIVE, AUSTIN, TX 78723-1939

Signing Officer

Name
Sterling Lands Ii
Title
President
Phone
5124546170
Signed
2023-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sterling Lands Ii
Formed
1995
Legal Domicile
TX
Voting Board Members
10
Independent Board Members
0
Employees
0

Preparer

Firm
Charles E Nwaneri P C
Address
9800 N Lamar Blvd Ste 341, Austin, TX 78753
Preparer
Charles E Nwaneri CPA
Phone
5129738825
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11

“Managemenet and Administrative expenses 51,677”

Form 990, Part IX, Line 13

“Office expenses 4,219”

Form 990, Part IX, Line 16

“Occupancy 40,047”

Form 990, Part IX, Line 20

“Interest expense 1,177”

Form 990, Part IX, Line 22

“Depreciation 429”

Form 990, Part IX, Line 23

“Insurance 26,358”

Form 990, Part IX, Line 24A

“Contract Services 42,122”

Form 990, Part IX, Line 24B

“Capital exenditures 84,522”

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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/Total509Grp/CurrentTaxYearMinus2YearsAmt0193084
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0172740
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0145649
IRS990ScheduleA/Total509Grp/TotalAmt01522163
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0311682
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0704568
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0193084
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0172740
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0145649
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01527723
IRS990ScheduleA/TotalSupportAmt01527723
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0306122
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0704568
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0193084
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0172740
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0145649
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01522163
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0348210
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0348210
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt061010
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt061010
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08297
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Other liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Security deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Loan payable Frost Bank
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4City of Austin
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5CIP Loan
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt061010
IRS990ScheduleD/TotalLiabilityAmt08297
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Managemenet and Administrative expenses 51,677
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Office expenses 4,219
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Occupancy 40,047
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Interest expense 1,177
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Depreciation 429
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Insurance 26,358
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Contract Services 42,122
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Capital exenditures 84,522
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part IX, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IX, Line 13
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 20
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 22
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 23
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24b
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0100781
IRS990/TotalAssetsEOYAmt0161628
IRS990/TotalAssetsGrp/BOYAmt0100781
IRS990/TotalAssetsGrp/EOYAmt0161628
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0100000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0250551
IRS990/TotalFunctionalExpensesGrp/TotalAmt0250551
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt084321
IRS990/TotalLiabilitiesEOYAmt08297
IRS990/TotalLiabilitiesGrp/BOYAmt084321
IRS990/TotalLiabilitiesGrp/EOYAmt08297
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt016460
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0153331
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt05559
IRS990/TotalProgramServiceExpensesAmt0250551
IRS990/TotalProgramServiceRevenueAmt05559
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0311681
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0100781
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0161628
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt08407 DANVILLE DRIVE
IRS990/USAddress/CityNm0Austin
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078753
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STERLING LANDS II
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05124546170
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RITES OF PASSAGE DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0RITE
ReturnHeader/Filer/EIN0742744850
ReturnHeader/Filer/PhoneNum05124546170
ReturnHeader/Filer/USAddress/AddressLine1Txt06510 BERKMAN DRIVE
ReturnHeader/Filer/USAddress/CityNm0AUSTIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd0787231939
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0453030437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHARLES E NWANERI P C
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09800 N Lamar Blvd Ste 341
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Austin

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$161,628
Liabilities
$8,297
Net assets
$153,331
Revenue
$311,681
Expenses
$250,551
Net income
$61,130
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.68$0.09$1.60$1.67$1.98$0.31
2023Detailed filing. Detailed filing data is available for this year.$2.11$0.10$2.01$2.12$1.84$0.28
2022Detailed filing. Detailed filing data is available for this year.$1.62$0.08$1.53$3.12$2.51$0.61
2021Detailed filing. Detailed filing data is available for this year.$1.01$0.84$0.16$7.05$6.86$0.18
2020Detailed filing. Detailed filing data is available for this year.$4.50$6.44$1.94$1.93$3.93$1.99
2019Detailed filing. Detailed filing data is available for this year.$4.39$4.34$0.05$1.73$3.79$2.06
2018Detailed filing. Detailed filing data is available for this year.$4.62$2.51$2.11$1.46$1.53$0.07
2017Detailed filing. Detailed filing data is available for this year.$4.64$0.41$4.24$0.63$0.88$0.24
2016Detailed filing. Detailed filing data is available for this year.$4.77$0.29$4.48$0.88$0.86$0.02
2015Detailed filing. Detailed filing data is available for this year.$4.63$0.17$4.46$0.64$0.78$0.14
2014Detailed filing. Detailed filing data is available for this year.$4.62$0.02$4.61$1.59$1.85$0.26
2013Detailed filing. Detailed filing data is available for this year.$4.97$0.11$4.86$1.01$1.13$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.88$0.64$4.23$1.31$1.59$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.89$0.54$4.35$1.33$1.50$0.17