Overview
What is Rai Development Corporation?
Rai Development Corporation is a nonprofit organization located in Carrboro, North Carolina (NC), specifically at 550 Smith Level Road. Its primary role is unique, serving as a development corporation that holds title for real property on behalf of another tax-exempt organization. This means that Rai Development Corporation does not generate program revenue or expenses of its own, instead focusing on property-related duties. While it may not involve direct community services or programs, its role is essential in supporting the operations of another tax-exempt organization.
Is Rai Development Corporation legitimate?
Rai Development Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Rai Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Rai Development Corporation?
Rai Development Corporation serves as a development corporation, holding title for real property on behalf of another tax-exempt organization. Its primary mission is to provide this service, and as a result, it does not generate any program revenue or incur expenses. Essentially, Rai Development Corporation acts as a title-holding entity for another tax-exempt organization, contributing to its operations in a unique way.
Who is the CEO of Rai Development Corporation?
David Chapman is the Secretary of Rai Development Corporation. The CEO's salary of Rai Development Corporation is $0 and their total compensation is $147,604.
What is the revenue of Rai Development Corporation?
Rai Development Corporation's revenue in 2022 was $302,710.
Who are the executives of Rai Development Corporation and what are their salaries?
There 4 volunteers at Rai Development Corporation.
Here are 4 key members and their salaries (Rai Development Corporation's CEO's salary is $0 and their total compensation is $147,604):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $117,590
- Other: $30,014
Where can I find the form 990 for Rai Development Corporation?
Rai Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rai Development Corporation
Rai Development Corporation serves a unique role in the non-profit sector. This development corporation is primarily tasked with holding the titles of real properties for another tax-exempt organization. By fulfilling this role, Rai Development Corporation does not generate program revenue or incur expenses of its own. Essentially, it acts as a supportive entity, enabling other non-profit organizations to focus more on their core missions and services. Despite not having its own programs or financial activities, Rai Development Corporation plays a crucial role in the non-profit landscape by providing a vital service to tax-exempt organizations.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Rai Development Corporation plays a significant role in facilitating community improvement through its real estate activities. By holding title to real property for other tax-exempt organizations, Rai ensures that valuable assets are managed effectively for the benefit of the community. This arrangement helps streamline operations for organizations focused on social betterment, enabling them to concentrate on their core missions without the burden of property management. The strategic positioning in Carrboro, NC, allows Rai to contribute positively to local development initiatives, supporting a variety of tax-exempt entities that aim to enhance community well-being. Overall, Rai Development Corporation's impact is rooted in its ability to support and empower organizations that drive meaningful change within the community.
This information is meant to be a general summary of Rai Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $302,710
- Gross Receipts: $302,710
Assets and Liabilities:
- Total Assets: $774,631
- Total Liabilities: $318,446
- Net Assets: $456,185
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL
Revenue
$302,710
Organization Details
Founding Year
1996
Phone
(919) 967-3402Principal Officer
David Chapman
Main Address
550 SMITH LEVEL ROAD, CARRBORO, NC, 27510
NTEE Category
Code: S47 - Community improvement
If you are a representative of Rai Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.