Nonprofit · EIN 56-2097995
RAI DEVELOPMENT CORPORATION
Tax-exempt · CARRBORO, NC 27510
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $196,366 | $68,938 | $127,428 | $676,715 | $143,648 | $533,067 |
| June 30, 2024 | 990 | $84,050 | $122,318 | -$38,268 | $612,495 | $206,856 | $405,639 |
| June 30, 2023 | 990 | $111,460 | $123,738 | -$12,278 | $710,685 | $266,778 | $443,907 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $52,544
- Program service revenue
- $135,665
- Investment income
- $1,357
- Net gain from sales of assets
- $1,249
- Other revenue
- $6,800
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $1,037
- Occupancy
- $30,252
- Depreciation
- $28,236
Balance sheet and other
- Total assets, start of year
- $612,495
- Total assets, end of year
- $676,715
- Total liabilities, end of year
- $143,648
- Net assets, end of year
- $533,067
- Land, buildings and equipment
- $475,964
- Net assets without donor restrictions
- $533,067
- Gross receipts
- $196,366
- Employees
- 0
- Volunteers
- 3
- Year formed
- 1996
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| DAVID CHAPMAN | CHAIR Officer | 0.1 | $0 | $115,533 |
| MARTHA BOLLINGER | SECRETARY/TREASURER Trustee or director, Officer | 0.1 | $0 | $0 |
| JACK SIMONDS | BOARD MEMBER Trustee or director, Officer | 0.1 | $0 | $0 |
| ANDRA DAVIS | BOARD MEMBER Trustee or director | 0.1 | $0 | $0 |
990 for the year ended June 30, 2024: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DAVID CHAPMAN | CEO Officer | 0.1 | $0 | $113,900 | $31,378 |
| JACK SIMONDS | CHAIRMAN Trustee or director, Officer | 0.1 | $0 | $0 | $0 |
| MARTHA BOLLINGER | SECRETARY Trustee or director, Officer | 0.1 | $0 | $0 | $0 |
| ANDRA DAVIS | BOARD MEMBER Trustee or director | 0.1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DAVID CHAPMAN | CEO Officer | 0.1 | $0 | $117,619 | $25,194 |
| MARTHA BOLLINGER | SECRETARY Trustee or director, Officer | 0.1 | $0 | $0 | $0 |
| JACK SIMONDS | CHAIRMAN Trustee or director, Officer | 0.1 | $0 | $0 | $0 |
| ANDRA DAVIS | BOARD MEMBER Trustee or director | 0.1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 550 SMITH LEVEL RD, CARRBORO, NC 27510-2555
- Principal officer (990 for 2024)
- DAVID CHAPMAN, 550 SMITH LEVEL ROAD, CARRBORO, NC 27510
- Signed the 990
- DAVID CHAPMAN, CEO
- Phone
- (919) 967-3402
- Return prepared by
- SHARPE PATEL CPA
Mission
RAI IS A DEVELOPMENT CORPORATION WHOSE PURPOSE IS TO HOLD TITLE FOR REAL PROPERTY FOR ANOTHER TAX-EXEMPT ORGANIZATION.
Program accomplishments
- RAI IS A DEVELOPMENT CORPORATION WHOSE PURPOSE IS TO HOLD TITLE FOR REAL PROPERTY FOR ANOTHER TAX-EXEMPT ORGANIZATION. THUS, RAI DEVELOPMENT CORPORATION DOES NOT HAVE ANY PROGRAM REVENUE OR EXPENSES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-2097995
- Tax-exempt status
- 501(c)(2): Title-holding corporation
- Donations deductible
- No
- Exempt since
- 2002
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S47)
- Assets (IRS master file)
- $676,715
- Income (IRS master file)
- $196,366
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $196,366 | $68,938 | $676,715 | IRS |
| 990 | June 2024 | $84,050 | $122,318 | $612,495 | XML |
| 990 | June 2023 | $111,460 | $123,738 | $710,685 | XML |
| 990 | June 2022 | $302,710 | $248,040 | $774,631 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-2097995).
Questions about RAI DEVELOPMENT CORPORATION
- What is the EIN of RAI DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of RAI DEVELOPMENT CORPORATION is 56-2097995.
- Is RAI DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(2) since 2002.
- Are donations to RAI DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RAI DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RAI DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RAI DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of RAI DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names DAVID CHAPMAN.
- Who are the officers and directors of RAI DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does RAI DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $196,366, expenses of $68,938 and total assets of $676,715 at year end.
Other nonprofits in CARRBORO
- COMMUNITY EMPOWERMENT FUND EIN 27-0428981 · last filed 990 for 2024
- N C ASSOCIATION OF NATUROPATHIC PHYSICIANS EIN 56-2171196 · last filed 990-N for 2025
- CARAMORE COMMUNITY INC EIN 51-0145188 · last filed 990 for 2025
- CHAPEL HILL TENNIS CLUB INC EIN 56-0892516 · last filed 990 for 2025
- TABLE MINISTRIES INC EIN 26-1471735 · last filed 990 for 2025
- INTER-FAITH COUNCIL FOR SOCIAL SERVICE EIN 59-1224041 · last filed 990 for 2025
- REFUGEE COMMUNITY PARTNERSHIP INC EIN 26-3608741 · last filed 990 for 2025
- ARTS CENTER EIN 51-0198497 · last filed 990 for 2025
All nonprofits in CARRBORO · North Carolina · Community improvement and capacity building