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Ser Development I INC FY2020 filing

Raleigh, NCMutual-benefit / member-servingSince 2018EIN 82-4464493Revenue $961K in FY2020

On file with the IRS801 Corporate Center Dr Ste 200, 27607-5243 · Raleigh, NCTax-exempt since Aug 2018

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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.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average surplus $257K a year · 14% of revenue · last 6 filings
Worth a look: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$20.7M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$961K
Spent
$1.1M
To programs
0%
Net assets
$2.0M
By yearFY2020–FY2025
Revenue
$961K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$961K
FY2021$938K
FY2022$881K
FY2023$881K
FY2024$881K
FY2025$6.9M
Expenses
$1.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$2.0M
FY2022$1.9M
FY2023$1.8M
FY2024$1.8M
FY2025$1.3M
Net assets
$2.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$940K
FY2022−$61K
FY2023−$935K
FY2024−$1.8M
FY2025$0

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $1.1M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Lisa Martin
Chairman and President
$0Pt VII · Sec A
Page Allen
Treasurer
$0Pt VII · Sec A
Richard Boyette
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ser Development I INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops and leases property for YMCA facilities, including a wellness center and athletic amenities.

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Provided by the organization

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1 program · in their own filed words · FY2019
01

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.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $3.4M · 2020–2024
The Young Men's Christian Association of the Triangle Area INC (4598)NC · FY2024$630,609
The Young Men's Christian Association of the Triangle Area INC (4598)NC · FY2023$679,957
The Young Men's Christian Association of the Triangle Area INC (4598)NC · FY2022$677,248
The Young Men's Christian Association of the Triangle Area INC (4598)NC · FY2021$669,824
The Young Men's Christian Association of the Triangle Area INC (4598)NC · FY2020$735,333

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$961K
Ln 12
Fees for servicesLn 2g$912K
Other incomeLn 4–11$49K
Money outPt IX
$1.1M
Ln 25
Managementcol C$1.1M
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$853K
Total assetsLn 16$22.7M
LiabilitiesLn 26$20.7M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fees for servicesLn 2g$912K
Other incomeLn 4–11$49K
Total revenueLn 12$961K
Assets in detailPt X, end of year
CashLn 1$853K
Cash and savings togetherLn 1–2$853K
Land, buildings, equipmentLn 10c$19.2M
Other assetsLn 15$0
Total assetsLn 16$22.7M
LiabilitiesLn 26$20.7M
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$175K$853K
Land, buildings, equipmentLn 10c$18.3M$19.2M
Total assetsLn 16$23.8M$22.7M
LiabilitiesLn 26$21.6M$20.7M
Net assetsLn 32$2.2M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$0$0
Accounting feesLn 11c$41K$41K
Other fees for servicesLn 11g$0$0$0$0
OccupancyLn 16$16K$16K
InterestLn 20$258K$258K
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$722K$722K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$90K$90K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$1.1M$0$1.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.9M$1.3M$5.5M$0 990 PDF
FY2024 $881K$1.8M−$879K−$1.8M 990 PDF
FY2023 $881K$1.8M−$875K−$935K 990 PDF
FY2022 $881K$1.9M−$1.0M−$61K 990 PDF
FY2021 $938K$2.0M−$1.1M$940K 990 PDF
FY2020 Viewing $961K$1.1M−$180K$2.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $960,948 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,000$0
I-9 Program service revenuePrior year $189,375$912,087
I-10 Investment incomePrior year $27,991$0
I-11 Other revenuePrior year $0$48,861
I-12 Total revenuePrior year $222,366$960,948
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $240,715$1,140,805
I-18 Total expensesPrior year $240,715$1,140,805
I-19 Revenue less expensesPrior year −$18,349−$179,857
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $960,948 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $912,087$912,087
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $48,861$48,861
VIII-12 Total revenueRelated to mission $960,948 · Unrelated business $0 · Excluded from tax $0$960,948
Part IX · Statement of functional expenses $1,140,805 across 10 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-11c Accounting feesManagement $41,350$41,350
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyManagement $15,914$15,914
IX-20 InterestManagement $258,136$258,136
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationManagement $722,320$722,320
IX-23 InsuranceManagement $13,080$13,080
IX-24 Other expenses (24a–d)Management $90,005$90,005
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $0 · Management $1,140,805 · Fundraising $0$1,140,805
Part X · Balance sheet $22,747,158 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $174,985$852,728
X-3 Pledges and grants receivableStart of year $633,159$235,270
X-4 Accounts receivableStart of year $189,375$891,521
X-9 Prepaid expenses and deferred chargesStart of year $1,566,157$1,550,242
X-10c Land, buildings and equipment, netStart of year $18,345,654$19,217,397
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $23,782,881$22,747,158
X-17 Accounts payable and accrued expensesStart of year $204,868$206,199
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $1,001,672$33,507
X-26 Total liabilitiesStart of year $21,594,367$20,738,501
X-27 Net assets without donor restrictionsStart of year −$4,262$229,684
X-28 Net assets with donor restrictionsStart of year $2,192,776$1,778,973
X-32 Total net assets or fund balancesStart of year $2,188,514$2,008,657
X-33 Total liabilities and net assetsStart of year $23,782,881$22,747,158
Part XI · Reconciliation of net assets $2,008,657 net assets at year end
XI-1 Total revenue$960,948
XI-2 Total expenses$1,140,805
XI-3 Revenue less expenses−$179,857
XI-4 Net assets at start of year$2,188,514
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,008,657

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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