Public Charity

SER DEVELOPMENT I INC

Based in RALEIGH, NC, SER DEVELOPMENT I INC operates as a Public Charity. The organization reported $6.9M in revenue, $1.3M in expenses for fiscal year 2025. Imperigo tracks 2 reported grant relationships connected to this organization totaling approximately $2.3M.

EIN: 824464493 RALEIGH, NC Latest filing: 2025

Total Revenue$6.9M

Total Expenses$1.3M

Grant Records2

Funding Total$2.3M

Filing Years2021–2025

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.

Where $100 goes at Ser Development I Inc

How Ser Development I Inc divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.

$12 Programs the work itself

$88 Management running the organization

$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $12 for programs

$12

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…

All program spending

Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Sample Grants Received

THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE TRIANGLE AREA INC (4598)

2018

Provide cash to SER Development, an entity formed solely for the purpose of a new market tax credit arrangement

$5,000

THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE TRIANGLE AREA INC (4598)

2017

Provide cash and ground lease to SER Development, an entity formed solely for the purpose of an New Market Tax Credit arrangement

$2,273,888

Showing up to 5 of 2 total records — full history available with membership.

Officers & Directors

SECRETARY Johnny Tillett

MEMBER Lacy Presnell

CHAIR & PRESIDENT Lisa Martin

TREASURER Page Allen

VICE CHAIR Richard Boyette

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support

$2,278,888 2 grants

Financial Trends

Year	Revenue	Expenses	Assets
2025	$6.9M	$1.3M	—
2024	$881K	$1.8M	$19.5M
2023	$881K	$1.8M	$20.2M
2022	$881K	$1.9M	$20.9M
2021	$938K	$2.0M	$21.8M

Between 2021 and 2025, reported annual revenue grew from $938K to $6.9M (+634%).

Interactive year-over-year charts and full filing details available with membership.

See the full picture for SER DEVELOPMENT I INC

Complete financials, all 2 grant records, officer compensation, year-over-year trend charts, a geographic grant map, and data exports — across 880,000+ organizations.

Full Financial History Complete Grant Activity Officer Compensation Year-over-Year Charts Geographic Grant Map Data Exports