Rai Development Corporation

Nonprofit profile at a glance

EIN
562097995
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Carrboro, NC, USA
Phone
9199673402
Rating confidence
Limited
Sector
Real Estate Associations

Reported finances

Revenue
$196,366
Expenses
$68,938
Assets
$676,715
Liabilities
$143,648

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Highest reported compensation

  • DAVID CHAPMAN (CHAIR): $115,533 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Rai is a development corporation whose purpose is to hold title for real property for another tax-exempt organization.

What it reported doing in 2024

Rai is a development corporation whose purpose is to hold title for real property for another tax-exempt organization. Thus, rai development corporation does not have any program revenue or expenses.

Operating model

Revenue model
Earned-program. 70% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 73
  • Growth: 40

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 64.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 9.82; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $116K · 4 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.