Civic Intelligence

Ser Development I Inc (4598-So1)

990 • Fiscal year 2018 • EIN 82-4464493

Feb 16, 2018 to Sep 30, 2018 • Filed on Jul 22, 2019

Organization ProfileN/A
801 Corporate Center DrRaleigh, NC 27607

(919) 719-9660

Siviq Scores

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

Liabilities / Assets

74th percentile

0.91x

Higher debt load relative to assets than 74% of similar nonprofits.

2018 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

57th percentile

9.47x

Higher debt load relative to revenue than 57% of similar nonprofits.

2018 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2018

Net Margin

79th percentile

96%

Higher net margin than 79% of similar nonprofits.

2018 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2018 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets74th percentile

Assets

$24,081,901

No earlier filing loaded for comparison.

Net Assets

$2,206,863

No earlier filing loaded for comparison.

Liabilities

$21,875,038

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin79th percentile

Revenue

$2,310,413

No earlier filing loaded for comparison.

Expenses

$103,550

No earlier filing loaded for comparison.

Net Income

$2,206,863

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30M$20M$10M$0-$10MAssets 2018: $24,081,901Liabilities 2018: $21,875,038Net Assets 2018: $2,206,8632018Assets 2019: $23,782,881Liabilities 2019: $21,594,367Net Assets 2019: $2,188,5142019Assets 2020: $22,747,158Liabilities 2020: $20,738,501Net Assets 2020: $2,008,6572020Assets 2021: $21,797,369Liabilities 2021: $20,857,280Net Assets 2021: $940,0892021Assets 2022: $20,932,104Liabilities 2022: $20,992,882Net Assets 2022: -$60,7782022Assets 2023: $20,188,385Liabilities 2023: $21,123,740Net Assets 2023: -$935,3552023Assets 2024: $19,469,118Liabilities 2024: $21,283,089Net Assets 2024: -$1,813,9712024

Highlighted filing

2018

Assets$24,081,901
Liabilities$21,875,038
Net Assets$2,206,863
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2018: $2,310,413Expenses 2018: $103,550Net Income 2018: $2,206,8632018Revenue 2019: $222,366Expenses 2019: $240,715Net Income 2019: -$18,3492019Revenue 2020: $960,948Expenses 2020: $1,140,805Net Income 2020: -$179,8572020Revenue 2021: $938,478Expenses 2021: $2,007,046Net Income 2021: -$1,068,5682021Revenue 2022: $881,175Expenses 2022: $1,882,042Net Income 2022: -$1,000,8672022Revenue 2023: $881,175Expenses 2023: $1,755,752Net Income 2023: -$874,5772023Revenue 2024: $881,175Expenses 2024: $1,759,791Net Income 2024: -$878,6162024

Highlighted filing

2018

Revenue$2,310,413
Expenses$103,550
Net Income$2,206,863
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Feb 16, 2018 to Sep 30, 2018
Signed
Jul 22, 2019
Return Version
2018v3.1
Gross Receipts
$2,310,413
Mission and Program Overview

Mission

SER Development I, Inc. was organized for the exclusive purpose of holding a title to a parcel of real property located at 1436 Rock Quarry Road, Raleigh, NC 27610, collecting income therefrom, and turning over the entire amount thereof, less expenses, to the Young Men's Christian Association of the Triangle Area, Inc. The organization intends to develop, construct, equip and lease the development project for use as a YMCA facility, which will include a wellness center, parking lot, gymnasium, outdoor swimming pool, exercise studios, and other athletic and recreational amenities.

SER Development I, Inc. was organized for the exclusive purpose of holding a title to a parcel of real property located at 1436 Rock Quarry Road, Raleigh, NC 276o, collecting income therefrom, and turning over the entire amount thereof, less expenses, to the Young Men's Christian Association of the Triangle Area, Inc. The organization intends to develop, construct, equip and lease the development project for use as a YMCA facility, which will include a wellness center, parking lot, gymnasium, outdoor swimming pool, exercise studios, and other athletic and recreational amenities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$11,162,589-
Land, Buildings, and Equipment, Net-$10,533,864-
Prepaid Expenses and Deferred Charges-$1,582,289-
Pledges and Grants Receivable-$628,159-
Cash and Non-Interest-Bearing Accounts$0$175,000▲ $175,000
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors-$0-
Total Assets$0$24,081,901▲ $24,081,901
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$0$20,276,860▲ $20,276,860
Other Liabilities$0$1,485,908▲ $1,485,908
Accounts Payable and Accrued Expenses-$112,270-
Unsecured Notes Loans Payable$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$21,875,038▲ $21,875,038
Net Assets / Fund Balance
Unrestricted Net Assets-$1,508,506-
Temporarily Rstr Net Assets-$698,357-
Permanently Rstr Net Assets-$0-
Total Net Assets Fund Balance$0$2,206,863▲ $2,206,863
Total Liabilities and Net Assets / Fund Balance$0$24,081,901▲ $24,081,901

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$10,533,864-$10,533,864
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
-President
-Vice Chairman
-Member
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,273,888
Program Service Revenue
$0
Investment Income
$36,525
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$2,206,863

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,310,413
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$2,310,413
Total Revenue per Form 990
$2,310,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$103,550
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
Interest$53,634--$53,634
Other Expenses$39,432--$39,432
Insurance$6,324--$6,324
Fees for Services Accounting$4,160--$4,160
Total Functional Expenses$103,550$0$0$103,550

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$103,550
Total Expenses per Audited Statements$103,550
Total Expenses per Form 990$103,550
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to the YMCA$1,075,593
Retainage Payable$410,315
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“The Chairman of the Board of Directors of the YMCA of the Triangle shall nominate one director which shall be deemed elected by the Board of Directors at the annual meeting of the Board of Directors.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The Board is responsible for the review of the 990. They will receive a copy before it is filed.”

Form 990, Part VI, Line 12C Conflict of interest policy

“The purpose of the Company is to hold real estate during the term of the New Market Tax Credits. There are a small number of transactions in the Company. The CFO of the YMCA of the Triangle monitors these transactions to ensure there are none with officers or Board Members.”

Form 990, Part VI, Line 19 Required documents available to the public

“The documents are on file at YMCA of the Triangle and available to the public.”

Form 990, Part VIII, Line 2F Other Program Service Revenue

“- Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

Filing and Contact Details

Filer

Filer Name
SER Development I Inc (4598-SO1)
EIN
82-4464493
Phone
9197199660
Address
801 Corporate Center Dr, Raleigh, NC 27607

Signing Officer

Name
Lisa Martin
Title
Chairman & President
Signed
2019-07-22
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Cherry Bekaert LLP
Address
2626 Glenwood Avenue Suite 200, Raleigh, NC 27608
Preparer
Amanda Adams
Phone
9197821040
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Chairman of the Board of Directors of the YMCA of the Triangle shall nominate one director which shall be deemed elected by the Board of Directors at the annual meeting of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board is responsible for the review of the 990. They will receive a copy before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The purpose of the Company is to hold real estate during the term of the New Market Tax Credits. There are a small number of transactions in the Company. The CFO of the YMCA of the Triangle monitors these transactions to ensure there are none with officers or Board Members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The documents are on file at YMCA of the Triangle and available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4- Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VIII, Line 2f Other Program Service Revenue
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0na
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0The Young Men's Christian Association of the Triangle Area Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0560591307
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Volunteer led public charity with mission to put Christian principles into practice
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0801 Corporate Center Drive
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine2Txt0Suite 200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Raleigh
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0276075073
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0698357
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt024081901
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt024081901
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02273888
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0103550
IRS990/TotalFunctionalExpensesGrp/TotalAmt0103550
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt021875038
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt021875038
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02206863
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt036525
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02310413
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt024081901
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01508506
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0801 Corporate Center Dr
IRS990/USAddress/CityNm0Raleigh
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027607
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Lisa Martin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman & President
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SER Development I Inc (4598-SO1)
ReturnHeader/Filer/BusinessNameControlTxt0SERD
ReturnHeader/Filer/EIN0824464493
ReturnHeader/Filer/PhoneNum09197199660
ReturnHeader/Filer/USAddress/AddressLine1Txt0801 Corporate Center Dr
ReturnHeader/Filer/USAddress/CityNm0Raleigh
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027607
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560574444
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Cherry Bekaert LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02626 Glenwood Avenue Suite 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Raleigh
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027608
ReturnHeader/PreparerPersonGrp/PhoneNum09197821040
ReturnHeader/PreparerPersonGrp/PreparationDt02019-04-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Amanda Adams
ReturnHeader/ReturnTs02019-07-22T07:00:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-02-16
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,081,901
Liabilities
$21,875,038
Net assets
$2,206,863
Revenue
$2,310,413
Expenses
$103,550
Net income
$2,206,863
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$19.5$21.3$1.81$0.88$1.76$0.88
2023Detailed filing. Detailed filing data is available for this year.$20.2$21.1$0.94$0.88$1.76$0.87
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.9$21.0$0.06$0.88$1.88$1.00
2021Detailed filing. Detailed filing data is available for this year.$21.8$20.9$0.94$0.94$2.01$1.07
2020Detailed filing. Detailed filing data is available for this year.$22.7$20.7$2.01$0.96$1.14$0.18
2019Detailed filing. Detailed filing data is available for this year.$23.8$21.6$2.19$0.22$0.24$0.02
2018Detailed filing. Detailed filing data is available for this year.$24.1$21.9$2.21$2.31$0.10$2.21