Downtown Raleigh Alliance Inc

What it reported doing in 2024

The primary goals of the storefront development program are to contribute to downtown raleigh's economic success by attracting new businesses to vacant storefronts, providing market data to attract new investment and employers, and offering new opportunities and resources to a diverse set of businesses and entrepreneurs. Dra monitors pedestrian counters in downtown to measure foot traffic, helping to attract tenants and aid land use decisions. Dra continued its upfit grant with the goal of creating an incentive to attract new retail or aid in the expansion of existing retail in downtown raleigh. In partnership with the city of raleigh, our economic development staff actively works with retail brokers and landlords to fill storefront spaces in downtown which adds new jobs and expands tax revenues. Dra continued its partnership with wake tech to provide pop-up space for minority- and women-owned retail businesses. The economic data and analysis tracked each year is 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 complements our state of downtown annual event, attended by downtown's top business leaders and community members.dra also conducts planning and transportation initiatives to improve accessibility and connectivity in downtown related to bicycle, pedestrian, transit, and parking infrastructure. Dra provided community meetings and support for improvements in accessibility, changes to downtown parking, and advocacy for new bike lanes in downtown.downtown raleigh alliance's marketing efforts share the organization's mission with our stakeholders, bring visibility to the organization and the downtown community, and position downtown raleigh as a vibrant city center.dra's communications channels include organizational and program websites, email newsletters, and social media accounts including facebook, instagram, x, and linkedin.marketing campaigns, including blogs to highlight cultural and affinity celebrations such as black history month and women's history month, retail promotions such as restaurant week and holiday hub, and event-specific promotions for first friday, illuminate art walk, live after 5, and others garnered nearly 1 million impressions across channels.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 97.3%; rating input score 97; 27th percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.1%; rating input score 29; 29th percentile among comparable filings
• Total-asset coverage ratio: 0.44; rating input score 15; 15th percentile among comparable filings
• Liabilities to assets ratio: 0.36; rating input score 30; 30th percentile among comparable filings
• Officer compensation ratio: 4.8%; rating input score 55; 55th percentile among comparable filings

Growth

• Program expense growth: 5.7% per year; rating input score 100; 43rd percentile among comparable filings
• Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
• Asset growth: 8.1% per year; rating input score 100; 50th percentile among comparable filings