Rites of Passage Development Inc
Nonprofit profile at a glance
- EIN
- 742744850
- IRS 990-EZ coverage
- 2011–2025
- Forms available
- Form 990 2023, Form 990-EZ 2025
- Location
- Austin, TX, USA
- Phone
- 5124546170
- Rating
- 95
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $159,517
- Expenses
- $210,796
- Assets
- $100,015
- Liabilities
- $8,987
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- STERLING LANDS II (PRESIDENT/CEO)
People named in this filing
- STERLING LANDS II (PRESIDENT/CEO)
- MARY L THOMAS (SECRETARY)
- JAMES HUTCHINGS (MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
RPD provided and managed quality, affordable multifamily housing in Travis County, Austin Texas, fostering stable housing opportunities that help build stronger families and vibrant communities. In furtherance of its charitable mission, RPD reserved 15 apartment homes through its on-site Affordable Housing Disposition Program for qualifying households earning at or below 50 and 80 of the Area Median Income AMI. The remaining market-rate apartment homes were offered at rental rates approximately 20 below prevailing market rents, expanding access to quality, affordable housing for a broader segment of the community. Through these efforts, RPD promotes housing stability, strengthens families, and helps build thriving communities.
What it reported doing in 2025
RPD offers affordable housing in Travis County, TX, reserving 15 homes for households at 50-80 AMI and pricing the rest 20 below market rates to build stable families and vibrant communities.
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 23
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -32.1%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 0.47; rating input score 37; 37th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 4.3% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 7.3% per year; rating input score 100; 54th percentile among comparable filings
- Asset growth: -9.5% per year; rating input score 0; 11th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $211K in reported program spending
- Leadership: top reported pay $0 · 10 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 3 filed schedules
- Filing history: 12 filing years from 2011 to 2025
- Contacts: How to reach this organization
- 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 — Sustainability: Operating margin scored 4/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.