2023-11-14T07:49:17-05:00 2022-12-31 561053187 MADDISON & CAISON LLP 1111 OBERLIN RD RALEIGH NC 276051136 990 2022-01-01 820614057 SE RALEIGH PROMISE INC SERA 9199965697 900 S WILMINGTON STREET RALEIGH NC 27601 YVETTE HOLMES CEO 9194172223 2023-08-30 true YVETTE HOLMES 999009999 false SUSAN GLENDENNING P00921817 9198215482 2023-08-30 2022 2023-04-26 12:10:37Z YVETTE HOLMES 900 S WILMINGTON STREET RALEIGH NC 27601 898717 false X WWW.SERPROMISE.ORG X 2016 NC 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. 11 11 31 14 0 691375 890217 11000 8500 -963 0 702375 897754 14000 0 0 365766 546255 0 93314 205443 282399 585209 828654 117166 69100 1008964 778091 427532 127559 581432 650532 X 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. false false 497785 8500 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. 497785 true true false false false false false false true false true false false true true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 8 0 31 true false false false false false false false false false false false false X 11 11 false false false false false false false true true false false true true true false false false true false false NC X X THE ORGANIZATION 9199965697 900 S WILMINGTON STREET RALEIGH NC 27601 YVETTE HOLMES CEO 50.00 X 156000 0 12020 ASA FLEMING BOARD CHAIR 2.00 X X 0 0 0 MIA BAILEY VICE CHAIR 2.00 X X 0 0 0 JON MILLS SECRETARY 2.00 X X 0 0 0 CRAWFORD CRENSHAW TREASURER 2.00 X X 0 0 0 MARIA SPAULDING DIRECTOR 1.00 X 0 0 0 COURTNEY CROWDER DIRECTOR 1.00 X 0 0 0 CATTY MOORE DIRECTOR 1.00 X 0 0 0 THOMAS BRADSHAW JR DIRECTOR 1.00 X 0 0 0 EVAN COVINGTON CHAVEZ DIRECTOR 2.00 X 0 0 0 BARRY MALONE DIRECTOR 2.00 X 0 0 0 BENJAMIN YOUNG II DIRECTOR 2.00 X 0 0 0 156000 12020 1 false true false 122206 768011 890217 AGENCY SERVICE FEES 561000 6000 6000 SCHOOL PROGRAM FEES 611710 2500 2500 8500 963 -963 -963 -963 897754 7537 X 156000 117000 7800 31200 300105 161224 129032 9849 1734 1058 520 156 55170 33654 16551 4965 33246 20280 9974 2992 7993 7993 30030 30030 91182 35319 15543 40320 2684 2684 15268 5705 8518 1045 13294 8109 3989 1196 9888 6032 2966 890 4048 2469 1214 365 2166 1321 650 195 2307 2307 FAMILY EMPOWERMENT 53847 53847 SCHOOL SUPPORT 20874 20874 AFFORDABLE HOUSING 14440 14440 STUDENT/FAMILY ENGAGEMENT 6526 6526 7852 7243 468 141 828654 497785 237555 93314 737547 515750 170861 1881 5361 9074 5700 6503 3374 263033 82745 1008964 778091 20520 32683 260401 66250 146611 28626 427532 127559 X 556533 600354 24899 50178 581432 650532 1008964 778091 69100 X false false X 217915 2636620 409713 691375 890217 4845840 217915 2636620 409713 691375 890217 4845840 318109 4527731 4845840 19500 0.93440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true 260401 194151 66250 true X 9074 5700 3374 3374 AGENCY FUNDS 66250 RIGHT OF USE ASSET 12305 OTHER RECEIVABLES 4190 82745 REFUNDABLE GRANT ADVANCES 16321 LEASE LIABILITY 12305 28626 897754 897754 897754 828654 828654 828654 SCHEDULE D, PAGE 2, PART IV, LINE 1B AS A QUARTERBACK ORGANIZATION, SERP ACTS AS AGENT/SPONSOR FOR UNRELATED ORGANIZATIONS ON OCCASION, AND IN THAT CAPACITY, SERP HOLDS CASH IN RESERVE FOR SUCH ORGANIZATIONS TO BE DISTRIBUTED PER THEIR RESPECTIVE GOVERNING BODIES' INSTRUCTIONS. INCOME AND EXPENSES FOR THESE ORGANIZATIONS ARE NOT INCLUDED OR REPORTED WITH SERP'S INCOME AND EXPENSES. SCHEDULE D, PAGE 2, PART IV, LINE 2B SERP HOLDS CASH IN RESERVE FOR THE SOUTHEAST RALEIGH JOHN REX ENDOWMENT GRANT PROJECT. PER AGREEMENT, SERP MUST MAINTAIN UNSPENT FUND BALANCE FOR ON ITS BOOKS AND PROVIDE REGULAR REPORTING TO THE GRANT PROJECT DIRECTORS. X X X X X false false false false false false false false false YVETTE HOLMES CEO 150000 6000 12020 168020 FORM 990 - ORGANIZATION'S 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. FORM 990, PAGE 1, PART I, LINE 6 BOARD AND ADVISORY COMMITTEE MEMBERS DONATE THEIR TIME AND PROFESSIONAL SKILLS TO FURTHER THE PROGRAMS, ADMINISTRATION, AND FUNDRAISING EFFORTS OF SOUTHEAST RALEIGH PROMISE. FORM 990, PAGE 2, PART III, LINE 4A 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. FORM 990, PAGE 6, PART VI, LINE 11B PRIOR TO FILING THE 990, THE COMPLETED DOCUMENT IS FORWARDED TO MEMBERS OF THE BOARD FOR REVIEW AND COMMENT. FORM 990, PAGE 6, PART VI, LINE 15A CEO COMPENSATION IS INCLUDED IN THE ANNUAL BUDGET AND VOTED ON BY ALL BOARD MEMBERS. CEO COMPENSATION IS BASED ON INFORMATION FROM SIMILAR NON-PROFIT ORGANIZATIONS AND PROFESSIONAL EXECUTIVE SEARCH CONSULTANTS. IN ADDITION, CEO'S COMPENSATION IS BASED ON THE LEVEL OF SKILL AND EXPERIENCE REQUIRED TO LEAD, MANAGE, AND OPERATE A NON-PROFIT ORGANIZATION FOCUSED IN PART ON REAL ESTATE DEVELOPMENT ACTIVITIES. FORM 990, PAGE 6, PART VI, LINE 19 SERP'S GOVERNING DOCUMENTS ARE MADE AVAILABLE FOR VIEWING AT THE ORGANIZATION'S OFFICE WITH ADVANCE WRITTEN NOTICE. FORM 990, PART IX, LINE 11G EXECUTIVE SEARCHES 0 9,645 0 MARKETING 34,500 0 0 FUNDRAISING 0 0 40,320 OTHER 819 5,898 0 TOTAL 35,319 15,543 40,320