NonprofitsSer Development I Inc

Ser Development I Inc

RALEIGH, NC

Total revenue

$881K

Total expenses

$1.8M

Net assets

Grants received

$2.3M

2 grants

EIN

824464493

Tax year

2023

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.

Financials

FY 2023

Revenue

Contributions & grants
Program service revenue$881K
Investment income
Other revenue
Total revenue$881K

Expenses

Grants paid$680K
Salaries & benefits
Fundraising
Other expenses$1.1M
Total expenses$1.8M
Total assets$19.5M
Net assets

People

5 listed

NameRoleCompensation

JOHNNY TILLETT

SECRETARY

Board

2 hrs/wk

LISA MARTIN

CHAIR & PRESIDENT

Board

2 hrs/wk

PAGE ALLEN

TREASURER

Board

2 hrs/wk

RICHARD BOYETTE

VICE CHAIR

Board

2 hrs/wk

LACY PRESNELL

MEMBER

Board

2 hrs/wk

Grants received

Showing 2 of 2

FromAmountPurposeYear
$5K
Provide cash to SER Development, an entity formed solely for the purpose of a new market tax credit arrangement
2018
$2.3M
Provide cash and ground lease to SER Development, an entity formed solely for the purpose of an New Market Tax Credit arrangement
2017

Funded by

$2.3M from 1 funder · 2 grants · 2017–2018

Details

EIN824464493
Subsection02
Ruling date2018-08
Formed2018
Employees0
Volunteers5
SER DEVELOPMENT I INC — Mission, Financials & Grants Received | Grantivo