Mission
PROVIDES HOUSING TO LOW TO MODERATE INCOME FAMILIES
Public Charity
CAPITOL AREA DEVELOPMENTS INC
CAPITOL AREA DEVELOPMENTS INC, of RALEIGH, NC, is a Public Charity tracked in Imperigo's IRS 990 database. The 2025 filing shows $5.8M in revenue, $4.6M in expenses, $34.5M in total assets.
EIN: 581888268
RALEIGH, NC
Housing Development, Construction & Management
NTEE: L20
Latest filing: 2025
Total Revenue$5.8M
Total Expenses$4.6M
Total Assets$34.5M
Grant Records0
Filing Years2021–2025
Where $100 goes at Capitol Area Developments Inc
How Capitol Area Developments Inc divides every $100 it spends, from its own Form 990 filings, averaged across 8 years.
$97
Programs
the work itself
$3
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 $97 for programs
$97
Provides development services for low income housing
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.
Officers & Directors
BOARD DIRECTOR
Arne Morris
SECRETARY
Elizabeth Edgerton
BOARD VICE CHAIR (END 12/2024)
Hilda Holdsclaw
ASSISTANT SECRETARY
Jim Farrell
BOARD CHAIR (END 9/2024)
Joel Whitley
BOARD CHAIR
Sonia Anderson
Officer compensation and complete director data available with membership.
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $5.8M | $4.6M | $34.5M |
| 2024 | $5.4M | $4.3M | $31.9M |
| 2023 | $4.6M | $3.6M | $28.3M |
| 2022 | $4.5M | $3.3M | $27.7M |
| 2021 | $4.5M | $3.2M | $27.8M |
Between 2021 and 2025, reported annual revenue grew from $4.5M to $5.8M (+30%), with total assets most recently reported at $34.5M.
Interactive year-over-year charts and full filing details available with membership.