Nonprofit · EIN 58-1888268
CAPITOL AREA DEVELOPMENTS INC
Tax-exempt · RALEIGH, NC 27604
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $5,831,627 | $4,600,241 | $1,231,386 | $34,459,533 | $4,449,992 | $30,009,541 |
| March 31, 2024 | 990 | $5,422,494 | $4,255,775 | $1,166,719 | $31,890,993 | $3,112,838 | $28,778,155 |
| March 31, 2023 | 990 | $4,613,273 | $3,563,198 | $1,050,075 | $28,256,102 | $4,708,812 | $23,547,290 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $747,185
- Program service revenue
- $4,664,022
- Investment income
- $420,420
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $237,620
- Other salaries and wages
- $195,759
- Salaries, compensation and benefits (total)
- $649,803
- Professional fundraising fees
- $0
- Legal fees
- $7,256
- Accounting fees
- $13,236
- Occupancy
- $273,670
- Travel
- $9,882
- Depreciation
- $1,281,531
- Program services (functional)
- $3,633,280
- Management and general (functional)
- $966,961
Balance sheet and other
- Total assets, start of year
- $31,890,993
- Total assets, end of year
- $34,459,533
- Total liabilities, end of year
- $4,449,992
- Net assets, end of year
- $30,009,541
- Land, buildings and equipment
- $14,660,240
- Gross receipts
- $5,831,627
- Employees
- 0
- Volunteers
- 4
- Year formed
- 1984
- 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 March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ELIZABETH EDGERTON | SECRETARY Trustee or director, Officer | 1 | $0 | $175,839 | $47,085 |
| SONIA ANDERSON | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $151,568 | $51,398 |
| JIM FARRELL | ASSISTANT SECRETARY Officer | 1 | $0 | $113,033 | $36,009 |
| JOEL WHITLEY | BOARD CHAIR (END 9/2024) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| HILDA HOLDSCLAW | BOARD VICE CHAIR (END 12/2024) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TJ BARRINGER | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ARNE MORRIS | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended March 31, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOEL WHITLEY | BOARD CHAIR Trustee or director, Officer | – | $0 |
| HILDA HOLDSCLAW | BOARD VICE C Trustee or director, Officer | – | $0 |
| ELIZABETH EDGERTON | SECRETARY Officer | – | $0 |
| JIM FARRELL | ASST. SECRET Trustee or director, Officer | – | $0 |
| ARNE MORRIS | BOARD DIRECT Trustee or director | – | $0 |
| TJ BARRINGER | BOARD DIRECT Trustee or director | – | $0 |
990 for the year ended March 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOEL WHITLEY | BOARD CHAIR Trustee or director, Officer | – | $0 |
| HILDA HOLDSCLAW | BOARD VICE C Trustee or director, Officer | – | $0 |
| ELIZABETH EDGERTON | SECRETARY Officer | 1 | $0 |
| JIM FARRELL | ASST. SECRET Trustee or director, Officer | – | $0 |
| ARNE MORRIS | BOARD DIRECT Trustee or director | – | $0 |
| TJ BARRINGER | BOARD DIRECT Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 900 HAYNES ST, RALEIGH, NC 27604-1462
- In care of
- % FLOYD T CARTER
- Principal officer (990 for 2024)
- ELIZABETH EDGERTON, 900 HAYNES STREET, RALEIGH, NC 27604
- Signed the 990
- ELIZABETH EDGERTON, SECRETARY
- Phone
- (919) 831-8300
- Return prepared by
- RUBINO AND COMPANY CHARTERED
Mission
PROVIDES HOUSING TO LOW TO MODERATE INCOME FAMILIES
Program accomplishments
- PROVIDES DEVELOPMENT SERVICES FOR LOW INCOME HOUSINGExpenses $3,633,280 · revenue $4,664,022
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 March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 58-1888268
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1990
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L200)
- Assets (IRS master file)
- $34,459,533
- Income (IRS master file)
- $5,831,627
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | $5,831,627 | $4,600,241 | $34,459,533 | XML |
| 990 | March 2024 | $5,422,494 | $4,255,775 | $31,890,993 | XML |
| 990 | March 2023 | $4,613,273 | $3,563,198 | $28,256,102 | XML |
| 990 | March 2022 | – | – | – | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990 | March 2020 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | 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 58-1888268).
Questions about CAPITOL AREA DEVELOPMENTS INC
- What is the EIN of CAPITOL AREA DEVELOPMENTS INC?
- The employer identification number (EIN) of CAPITOL AREA DEVELOPMENTS INC is 58-1888268.
- Is CAPITOL AREA DEVELOPMENTS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to CAPITOL AREA DEVELOPMENTS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CAPITOL AREA DEVELOPMENTS INC 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 CAPITOL AREA DEVELOPMENTS INC due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CAPITOL AREA DEVELOPMENTS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of CAPITOL AREA DEVELOPMENTS INC?
- The 990 for the year ended March 31, 2025 names ELIZABETH EDGERTON.
- Who are the officers and directors of CAPITOL AREA DEVELOPMENTS INC?
- The 990 for the year ended March 31, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does CAPITOL AREA DEVELOPMENTS INC have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $5,831,627, expenses of $4,600,241 and total assets of $34,459,533 at year end.
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