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Real Estate Association of Developers Inc

EIN 83-1459012 · Detroit, MI

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceFair63 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

The mission is to cultivate, connect and advocate for experienced and aspiring black real estate developers.

Income
$373,549
Spending
$280,056
Spent on programs
82%
Reserves
8.1 months of spending
Largest source of income
donations and private grants, 95%
Employees
0
Volunteers
300
Highest pay
$75,000, executive director

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 93 out of 100. Higher than 74% of charities in its peer group (education, $250k to $1m).

  • Reserves

    28 of 35

    Spendable reserves would cover 8.1 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 25% of income.

  • Income trend

    15 of 15

    Income rose 1086% on the year before.

  • Spending floor

    15 of 15

    82% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 63 out of 100. Higher than 42% of charities in its peer group (education, $250k to $1m).

  • Independent board

    25 of 25

    6 of 6 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $214,509 spent. Women in Development Session (March 2026) In March 2026, READ hosted its Women in Development Session as part of its Monthly General Body Meeting series, drawing nearly 600 registrations for a panel of women leaders in Detroit real estate and development: Cecily Kipling (Kipling Development), Yulonda Byrd (VP, Cinnaire Southeast MI), Shawanna Gajewski (Annapolis Pointe), Kishon Harbert (Encore Real Estate Investment Services), and Tammy Daniel (Detroit Land Bank Authority). The session created space for members to learn directly from women who have built successful careers and led major projects across development, finance, and public land management, highlighting the role of representation in expanding access and leadership opportunities. The program reflects READs commitment to cultivating a diverse pipeline of developers and ensuring all members regardless of background have models and pathways for advancement.
  2. $13,867 spent. Fall Bus Tour (October 9, 2025) READ hosted its Fall Black Developer Bus Tour on October 9, 2025, with a little under 200 members and partners in attendance. Participants toured three active development sites led by Black developers across Detroit neighborhoods. Sites included the Russell Woods Senior Living Community (Icon Heritage Partners), a $28 million redevelopment of a vacant 12-story building into 77 units of affordable assisted senior housing in the Russell Woods neighborhood; the Higginbotham Art Residences (Roderick Hardamon, URGE Development Group), a $35.9 million adaptive reuse of the historic 1926 Higginbotham School in the Eight-Mile-Wyoming neighborhood into 100 units of affordable housing with art, community space, and an outdoor sculpture garden; and Trumbull Terrace (Cecily Kipling, Kipling Development), a 28-unit residential development in the Woodbridge neighborhood providing quality, attainably priced housing for middle-income residents near
  3. $1,129 spent. Spring Bus Tour (April 9, 2026) READ hosted its Spring Black Developer Bus Tour on April 9, 2026, with a little under 200 members and partners in attendance. Participants toured four active development sites led by Black developers across Detroit neighborhoods, gaining firsthand exposure to project execution, financing strategy, and community-centered design. Sites included the OSI Art Apartments on the Grand River Corridor (Roderick A. Hardamon, URGE Development Group, and George NNamdi, NNamdi Holdings), a mixed-use development bringing 30 residential units and retail to a corridor that has not seen commercial development in a generation; the Islandview Project on the East Side (Lindsey Roland, Develop Detroit), a ground-up homeownership initiative focused on long-term neighborhood stability; The Deco on East Warren (Brandon Hodges and Damon Dickerson, TRIBE Development), a mixed-use affordable and workforce housing development with a community-driven design a

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2019.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.