Ser Development I Inc

Nonprofit profile at a glance

EIN
824464493
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9197199622
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$6,884,760
Expenses
$1,338,241
Assets
$0
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • LISA MARTIN (CHAIR & PRESIDENT)

People named in this filing

  • LISA MARTIN (CHAIR & PRESIDENT)
  • RICHARD BOYETTE (VICE CHAIR)
  • JOHNNY TILLETT (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

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 developed, constructed, and equipped and leased the development project for use as a ymca facility, which includes a wellness center, parking lot, gymnasium, outdoor swimming pool, exercise studios, and other athletic and recreational amenities.

What it reported doing in 2024

The organization developed, constructed, and equipped and leased the development project for use as a ymca facility, which includes a wellness center, parking lot, gymnasium, outdoor swimming pool, exercise studios, and other athletic and recreational amenities.

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 21
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 57
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.2%; rating input score 9
  • Program expense ratio: 47.1%; rating input score 47
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 80.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 17% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 42.4% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -15.4% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 9.2% of revenue deployed · 47.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $631K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 9/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 47/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.