Totals
- Total revenue
- $897,754
- Total expenses
- $828,654
- Contributions and grants received
- $890,217
- Grants paid
- $0
- Program service revenue
- $8,500
- Investment income
- -$963
- Other revenue
- $0
- Total assets, end of year
- $778,091
- Total liabilities, end of year
- $127,559
- Net assets or fund balances, end of year
- $650,532
- Program services expenses (Part IX)
- $497,785
- Management and general expenses
- $237,555
- Fundraising expenses
- $93,314
- Program service expenses (Part III)
- $497,785
Program services were 60.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$122,206
-
1f · All other contributions, gifts and grants
$768,011
-
2a · Program service revenue: AGENCY SERVICE FEES
total $6,000 · related or exempt $6,000
-
2b · Program service revenue: SCHOOL PROGRAM FEES
total $2,500 · related or exempt $2,500
-
7b · Less cost or other basis and sales expenses
other assets $963
-
7c · Gain or loss
other assets -$963
-
7d · Net gain or loss
total -$963 · related or exempt -$963
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $156,000 · program services $117,000 · management and general $7,800 · fundraising $31,200
-
7 · Other salaries and wages
total $300,105 · program services $161,224 · management and general $129,032 · fundraising $9,849
-
8 · Pension plan contributions
total $1,734 · program services $1,058 · management and general $520 · fundraising $156
-
9 · Other employee benefits
total $55,170 · program services $33,654 · management and general $16,551 · fundraising $4,965
-
10 · Payroll taxes
total $33,246 · program services $20,280 · management and general $9,974 · fundraising $2,992
-
11b · Fees: legal
total $7,993 · management and general $7,993
-
11c · Fees: accounting
total $30,030 · management and general $30,030
-
11g · Fees: other
total $91,182 · program services $35,319 · management and general $15,543 · fundraising $40,320
-
12 · Advertising and promotion
total $2,684 · program services $2,684
-
13 · Office expenses
total $15,268 · program services $5,705 · management and general $8,518 · fundraising $1,045
-
14 · Information technology
total $13,294 · program services $8,109 · management and general $3,989 · fundraising $1,196
-
16 · Occupancy
total $9,888 · program services $6,032 · management and general $2,966 · fundraising $890
-
19 · Conferences, conventions and meetings
total $4,048 · program services $2,469 · management and general $1,214 · fundraising $365
-
22 · Depreciation, depletion and amortization
total $2,166 · program services $1,321 · management and general $650 · fundraising $195
-
23 · Insurance
total $2,307 · management and general $2,307
-
24a · Other expenses: FAMILY EMPOWERMENT
total $53,847 · program services $53,847
-
24b · Other expenses: SCHOOL SUPPORT
total $20,874 · program services $20,874
-
24c · Other expenses: AFFORDABLE HOUSING
total $14,440 · program services $14,440
-
24d · Other expenses: STUDENT/FAMILY ENGAGEMENT
total $6,526 · program services $6,526
-
24e · All other expenses
total $7,852 · program services $7,243 · management and general $468 · fundraising $141
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $737,547 · end of year $515,750
-
3 · Pledges and grants receivable
end of year $170,861
-
9 · Prepaid expenses and deferred charges
beginning of year $1,881 · end of year $5,361
-
10a · Land, buildings and equipment: cost or other basis
$9,074
-
10b · Land, buildings and equipment: accumulated depreciation
$5,700
-
10c · Land, buildings and equipment, net
beginning of year $6,503 · end of year $3,374
-
15 · Other assets
beginning of year $263,033 · end of year $82,745
-
17 · Accounts payable and accrued expenses
beginning of year $20,520 · end of year $32,683
-
21 · Escrow or custodial account liability
beginning of year $260,401 · end of year $66,250
-
25 · Other liabilities
beginning of year $146,611 · end of year $28,626
-
27 · Net assets without donor restrictions
beginning of year $556,533 · end of year $600,354
-
28 · Net assets with donor restrictions
beginning of year $24,899 · end of year $50,178
Mission and programs · 2022
Mission
SOUTHEAST RALEIGH PROMISE IS A LOCAL NONPROFIT WHOSE MISSION IS TO SERVE ALONGSIDE NEIGHBORS, STRATEGIC PARTNERS, AND FUNDERS TO ENSURE THAT SOUTHEAST RALEIGH RESIDENTS HAVE ACCESS TO EQUITABLE OPPORTUNITIES TO GROW, THRIVE, AND PROSPER. TO ADVANCE THIS MISSION, SOUTHEAST RALEIGH PROMISE SERVES AS A COMMUNITY QUARTERBACK LEADING RALEIGH/WAKE COUNTY'S FIRST PURPOSE BUILT COMMUNITIES MODEL, A NATIONAL PLACE-BASED INITIATIVE FOCUSED ON 4 KEY PILLARS: ECONOMIC VITALITY, MIXED-INCOME HOUSING, CRADLE TO CAREER EDUCATION, AND HEALTH AND COMMUNITY WELLNESS.
Activities or mission (Part I)
SE RALEIGH PROMISE, INC. WORKS ALONGSIDE NEIGHBORS, KEY PARTNERS, AND FUNDERS TO ENSURE THAT SOUTHEAST RALEIGH RESIDENTS HAVE ACCESS TO EQUITABLE OPPORTUNITIES TO GROW, THRIVE AND PROSPER.
-
IN 2022, SOUTHEAST RALEIGH PROMISE ACTIVITIES INCLUDED ADVANCING THE DEVELOPMENT OF 27 AFFORDABLE RENTAL UNITS ON 10 CITY-OWNED PARCELS LOCATED IN SOUTHEAST RALEIGH AND LEVERAGING RESOURCES AND PARTNERSHIPS TO PRESERVE WEALTH THROUGH HOMEOWNERSHIP OF LEGACY RESIDENTS WITHIN THE PROMISE ZONE. SE RALEIGH PROMISE ALSO PROVIDED ONGOING LEADERSHIP AND SUPPORT OF ITS FIRST PURPOSE BUILT COMMUNITIES COLLABORATION: THE BEACON SITE, IS A 32- ACRE CAMPUS HOME TO THE SER YMCA, SER ELEMENTARY SCHOOL, BEACON RIDGE APARTMENTS, AND BEACON POINT, CURRENTLY UNDER CONSTRUCTION. ACTIVITIES INCLUDED PARTNERING TO SUPPORT CLUB ROAR AN AFTER-SCHOOL STEAM ENRICHMENT PROGRAM OFFERED TO 80+ SOUTHEAST RALEIGH ELEMENTARY STUDENTS; PROVIDED SERVICE COORDINATION TO CONNECT 120 BEACON RIDGE HOUSEHOLDS TO SERVICES, RESOURCES, PROGRAMS AND OPPORTUNITIES FOCUSED ON IMPROVING OUTCOMES ACROSS THE FOUR PILLARS; PARTNERED WITH THE SER YMCA TO SUPPORT AND PROMOTE COMMUNITY-WIDE HEALTH EVENTS, RACIAL AND CULTURAL AWARENESS, AND SOCIAL AND EMOTIONAL WELL-BEING AND LEARNING; SUPPORTING THE SUCCESSFUL LEASE-UP BEACON POINT, THE FINAL PHASE OF DEVELOPMENT AT THE BEACON SITE. SER RALEIGH PROMISE ALSO CREATED EMPLOYMENT OPPORTUNITIES FOR HIGH SCHOOL AND COLLEGE STUDENTS; CREATED OPPORTUNITIES FOR HISTORICALLY UNDERUTILIZED BUSINESS, ENGAGED DEEPLY WITH THE COMMUNITY, LED CRITICAL CONVERSATIONS, AND LEVERAGED PARTNERSHIPS TO SPUR GREATER INVESTMENT IN SOUTHEAST RALEIGH.
Expenses $497,785 · Revenue $8,500
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Yvette HolmesYVETTE HOLMES
CEO
- Total calculated
- $168,020
- From this org
- $156,000
- From related orgs
- $0
- Other
- $12,020
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $150,000
- Bonus
- $6,000
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- $12,020
- Filer's total
- $168,020
-
Asa FlemingASA FLEMING
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Mia BaileyMIA BAILEY
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Jon MillsJON MILLS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Crawford CrenshawCRAWFORD CRENSHAW
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Maria SpauldingMARIA SPAULDING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Courtney CrowderCOURTNEY CROWDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Catty MooreCATTY MOORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas Bradshaw JrTHOMAS BRADSHAW JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Evan Covington ChavezEVAN COVINGTON CHAVEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Barry MaloneBARRY MALONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Benjamin Young IIBENJAMIN YOUNG II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 30 August 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343189349301404
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