Durham Realty Inc

Nonprofit profile at a glance

EIN
561917936
IRS 990 coverage
2018–2022
Forms available
Form 990 2022, Form 990-T 2022
Location
Durham, NC, USA
Phone
9196842006
Rating confidence
Limited
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Reported finances

Revenue
$81,890
Expenses
$23,281,808
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • RACHEL L SATTERFIELD (DIRECTOR/PRESIDENT)
  • CONSTANCE BADGER (DIRECTOR/VICE PRESIDENT)

Highest reported compensation

  • RACHEL L SATTERFIELD (DIRECTOR/PRESIDENT): $561,492 total reported compensation
  • SCOTT F SELIG (DIRECTOR/SECRETARY): $463,123 total reported compensation
  • BARBARA HOUGH (DIRECTOR): $410,625 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support duke university.the durham realty, inc. Board of directors approved the merger between durham realty, inc. And duke gift properties, inc. Duke gift properties, inc. Shall be the surviving entity, and durham realty, inc. Shall merge into duke gift properties, inc. Effective june 30, 2023.

What it reported doing in 2022

Durham realty, inc. Is a section 501(c)(3) support corporation of duke university. Its primary purpose is to hold, invest, and manage real estate for the benefit of the university.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 92% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 68
  • Accountability: 14
  • Sustainability: 4
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28,330.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.1%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 49.4% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 56th percentile among comparable filings
  • Asset growth: -20.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $23.3M in reported program spending
  • Leadership: top reported pay $561K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 5 filing years from 2018 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 71 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.