Southeast Raleigh Promise

What Southeast Raleigh Promise does

Southeast Raleigh Promise is a 501(c)(3) nonprofit community development organization headquartered in Raleigh, North Carolina, founded in 2017 after an incubation period under the YMCA of the Triangle beginning in 2015. It operates as the "community quarterback" of the Purpose Built Communities model for the 27601 ZIP code, coordinating cradle-to-career supports — including youth education, family services, health and wellness programming, and small-business development — for residents of Southeast Raleigh. The organization leads and convenes a coalition of nonprofit, civic, and corporate partners that fund and deliver these programs.

The organization's core physical asset is the 32-acre Beacon Site on Rock Quarry Road, which has been developed in phases: Beacon Ridge, a 96-unit affordable housing community that opened in 2019; Beacon Point, a 38-unit affordable housing community that opened in 2024; and the approximately 3-acre "Promise of Home" mixed-use development that broke ground in 2026. Programs operating on and around the campus include the SEED entrepreneurship initiative, Fit & Faith, the Mellow Mushroom Reading Corner, and student internship pipelines. There is no proprietary technology platform; service delivery is place-based and human-led.

The business model is that of a community-development nonprofit: revenue is generated through grants, philanthropic donations, and public-private partnerships rather than earned income from customers. Capital is sourced from local government (a $4.5 million joint City of Raleigh/Wake County allocation in 2022), corporate foundations (Wells Fargo $100,000 in 2023; Duke Energy $25,000 in 2026), the Purpose Built Communities network, and low-income housing tax credit partnerships that finance Beacon Ridge, Beacon Point, and Promise of Home. Leadership is headed by CEO Yvette Holmes, who has held the role since July 2021.

Name

Southeast Raleigh Promise

Legal name

Southeast Raleigh Promise

Website

https://serpromise.org

Company type

Private

Founded year

2017

Operating status

Operating

Short description

Southeast Raleigh Promise is a 501(c)(3) nonprofit community quarterback serving the 27601 ZIP code in Raleigh, NC. It coordinates cradle-to-career programs, affordable housing, and small-business support on a 32-acre Beacon Site campus using the Purpose Built Communities model.

Ownership category

akta.pro rank

Product category

Community Development Services

NAICS

Educational Services (611), Educational Support Services (611710), Grantmaking and Giving Services (81321)

SIC

Services-Educational Services (8200)

akta.pro primary industry

K–12 Support & School Improvement Nonprofits (BPAGADAB)

akta.pro secondary industries

After-School, Tutoring & Academic Enrichment Nonprofits (BPAGADAC), Early Childhood Education & Childcare Nonprofits (BPAGADAA), Small Business & Entrepreneurship Community Education (EDAAAFAK), Workforce & Career Transition Noncredit Programs (EDAAAEAC)

Keywords

• Community development services
• Affordable housing development
• Community economic development
• Place-based neighborhood revitalization
• Nonprofit community programs

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Individual Donations: Monthly recurring donations through Circle of Promise program and one-time gifts from individual supporters
2. Foundation & Corporate Grants: Funding from foundations including Duke Energy Foundation, Tom Russell Charitable Foundation, and corporate partners
3. Government Funding: Funding from City of Raleigh, Wake County, and state sources for housing development and community programs
4. Public-Private Partnerships: Partnerships with government entities for affordable housing development on city-owned parcels

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Southeast Raleigh Promise is a community quarterback nonprofit that coordinates place-based development across affordable housing, cradle-to-career education, small business and economic vitality, and health and community well-being along the Rock Quarry Road Corridor in Southeast Raleigh. Its deliverables include affordable housing developments such as Beacon Ridge Apartments (120 homes) and Promise of Home (25 homes), small business micro-grants, resident services, and partner convenings on the 32-acre SECU Beacon Site campus. The organization does not sell products; it delivers community programs funded through donations, grants, and public-private partnerships.

Product overview

Southeast Raleigh Promise is a nonprofit community quarter organization operating as Raleigh/Wake County's first Purpose Built Community. Rather than a technology product company, SERP provides place-based community development services organized around four pillars: Cradle to Career Education, Economic Vitality, Mixed-Income Housing & Real Estate, and Health & Community Well-Being. The organization does not offer technology products or software services.

Differentiator

Problem solved

Functional benefit

Products and services

• Beacon Ridge Affordable Housing (Beacon Ridge Apartments) Affordable rental housing community of 120 homes developed by DHIC on the Beacon Site campus, serving Southeast Raleigh residents including legacy households.
• Promise of Home Housing Development Southeast Raleigh Promise's first independent affordable housing development: 25 mixed-income rental homes across nine city-owned parcels along the Rock Quarry Road corridor.
• Promise in Action Grant Program Micro-grant program for small businesses along the Rock Quarry Road Corridor, providing grants ranging from $750 to $2,000 for marketing, inventory, equipment, and operational improvements.
• Rock Quarry Road Small Business Alliance Monthly meetings and networking alliance for 40-plus small business owners along the Rock Quarry Road Corridor, supported by Carolina Small Business Development Fund and The Wright Center.
• Cradle to Career Education Pathway Coordinated cradle-to-career education pathway including pre-K, Southeast Raleigh Elementary, EOG prep tutoring, after-school programs, and Wake Tech Community College career and college readiness, serving children, youth, and families in Southeast Raleigh.
• Circle of Promise Monthly Giving Program Monthly recurring donation program for individual community supporters, providing sustained funding for SERP's community development programs.
• Beacon Campus Community Garden Community garden at the Beacon Campus producing over 1,000 pounds of fresh produce annually, managed with partner Slice 325 to address food security along the Rock Quarry Road Corridor.
• Beacon Ridge Food Pantry Food pantry opened at Beacon Ridge Apartments in partnership with the Food Bank of Central & Eastern North Carolina to serve residents and address food insecurity along the Rock Quarry Road Corridor.
• Beacon Point Shared Office and Commercial Facility Shared nonprofit office and commercial facility at Beacon Point housing SERP's offices, the James P. West Suite for Nonprofit Excellence, Self-Help Credit Union branch, Advance CarePlex, and UNC Health Multispecialty Care.
• Home Preservation Volunteer Events Annual Home Preservation volunteer events providing critical home repairs, smoke alarm installations, and other services for legacy residents, in partnership with Rebuilding Together, Habitat for Humanity, and American Red Cross.

Quantifiable outcome

• Beacon Ridge Apartments opened in 2019 with 120 affordable rental homes
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

25 partnerships are on record, tiered core, major and minor.

• Self-Help Credit UnioncoreStrategic or Co-development Partner · 1 January 2024Opened branch at Beacon Point; provides financial services, homebuyer workshops, and credit coaching for residents
• UNC HealthcoreStrategic or Co-development Partner · 1 January 2024UNC Health Multispecialty Care at Beacon Point opened April 2024; serves 26,000 patients across network with complex patients transitioning to Beacon Point facility
• Advance Community HealthcoreStrategic or Co-development Partner · 1 January 2024Community health center opened at Beacon Point April 2024; serves 26,000 patients with focus on comprehensive care
• Legal Aid of North CarolinamajorStrategic or Co-development Partner · 1 January 2024Provides legal services at Beacon Point; partnered for free Wills & Estates Clinics
• Food Bank of Central & Eastern North CarolinamajorStrategic or Co-development Partner · 1 January 2024Partnered to open food pantry at Beacon Ridge Apartments to serve residents and build food security along Rock Quarry Road Corridor
• Slice 325majorStrategic or Co-development Partner · 1 January 2024Manages the Beacon Campus Community Garden producing over 1,000 pounds of fresh produce annually
• TelamonmajorStrategic or Co-development Partner · 1 January 2024Operates two pre-K classrooms at Beacon Campus; provides family-centered supports for early learning
• Carolina Small Business Development FundmajorStrategic or Co-development Partner · 1 January 2024Entrepreneurial support organization providing resources to small businesses along Rock Quarry Road Corridor
• Wake Tech Community CollegemajorStrategic or Co-development Partner · 1 January 2024Partner providing career pathways and Career and College Promise programming for students
• The Wright CentermajorStrategic or Co-development Partner · 1 January 2024Entrepreneurial support organization for small business owners along the corridor
• Coastal Credit Union Music ParkminorStrategic or Co-development Partner · 1 January 2024Anchor institution near Rock Quarry Road Corridor; partner in master planning efforts
• Partners for Environmental JusticeminorStrategic or Co-development Partner · 1 January 2024Community partner for health and environmental initiatives
• Smith Anderson Law FirmmajorStrategic or Co-development Partner · 1 January 2024Partner in Wills & Estates Clinics providing free estate planning services to Southeast Raleigh residents
• UNC Health CarecoreStrategic or Co-development Partner · 1 January 2024Opened UNC Health Multispecialty Care at Beacon Point May 2024
• Family Resource Center South AtlanticmajorStrategic or Co-development Partner · 1 January 2024Nonprofit tenant at Beacon Point providing family resources
• Urban TrendscoreStrategic or Co-development Partner · 1 January 2023Development partner for small-scale affordable housing project developing 27 units across city-owned parcels
• Rebuilding TogethermajorStrategic or Co-development Partner · 1 January 2023Partner for Annual Home Preservation Volunteer Events providing critical repairs for legacy residents
• American Red CrossmajorStrategic or Co-development Partner · 1 January 2023Partner for Home Preservation Events; installed smoke alarms in homes
• Habitat for HumanitymajorStrategic or Co-development Partner · 1 January 2023Partner for 4th Annual Home Preservation Volunteer Event
• United Way of the Greater TrianglemajorStrategic or Co-development Partner · 1 January 2023Partner in Mighty Give Back event; Southeast Raleigh Promise is one of 20 Impact Partners receiving funds
• Southeast Raleigh YMCAcoreStrategic or Co-development Partner · 1 January 2019Anchor partner at the SECU Beacon Site campus; provides recreational facilities including outdoor pool; offers before- and after-school programs; residents qualify for discounted memberships
• Southeast Raleigh Elementary SchoolcoreStrategic or Co-development Partner · 1 January 2019Wake County public school serving children on the Beacon Campus; anchor educational institution in the Cradle to Career Education pillar
• DHIC (Developers of Housing Initiatives Carolina)coreStrategic or Co-development Partner · 1 January 2019Developed Beacon Ridge Apartments with 120 affordable rental homes on the Beacon Site
• Purpose Built CommunitiescoreStrategic or Co-development Partner · 1 January 2015National network organization providing the Purpose Built Communities model; Southeast Raleigh Promise is the 16th network member nationally and Raleigh/Wake County's first
• YMCA of the TrianglecoreStrategic or Co-development Partner · 1 January 2015Led initial community listening sessions in 2011; incubated Southeast Raleigh Promise under its umbrella until 2017

Scale indicators16 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• East Lake Foundation: Atlanta-based Purpose Built Communities member operating the original cradle-to-career, mixed-income housing, and community-wellbeing model. Most directly comparable to SERP given shared Purpose Built affiliation, multi-pillar structure, and place-based neighborhood transformation focus.
• Northside Achievement Zone (NAZ): Minneapolis-based cradle-to-career collective impact organization using a similar place-based, multi-pillar (education, housing, economic) strategy in North Minneapolis. Comparable operating model and dual focus on education outcomes and family economic stability.
• Cleveland Neighborhood Progress: Community development intermediary supporting neighborhood-based revitalization in Cleveland. Operates a similar place-based model coordinating housing, economic development, and community engagement across multiple neighborhoods.

Broad incumbents

• Purpose Built Communities: National network organization supporting the model SERP uses. Operates as an umbrella, convener, and capacity-builder for 25+ member communities; provides the framework, peer learning, and national platform that SERP leverages.
• Local Initiatives Support Corporation (LISC): National nonprofit CDFI supporting place-based community development across housing, education, health, and economic opportunity. Comparable scope of multi-pillar community development work, though at national scale rather than neighborhood scale.
• Enterprise Community Partners: National nonprofit combining affordable housing development, community development financial services, and place-based programs. Comparable in affordable housing delivery and integrated community development; much larger footprint.
• Habitat for Humanity International: National nonprofit focused on affordable homeownership and home preservation. Comparable through the affordable housing + homeownership education focus (Housing Pathway, Home Preservation Events with Rebuilding Together and American Red Cross). Much broader scale.

Regional players

• Charlotte Urban Design Center (City of Charlotte): City-led and public-private partnership efforts in Charlotte serving similar community development, affordable housing, and corridor-revitalization functions in the Carolinas. Comparable regional operating context but government-led rather than nonprofit-led.
• NC Housing Coalition: Statewide affordable housing advocacy and policy organization in North Carolina. Recently awarded SERP's coalition the Best Grassroots Mobilization Award (2025). Comparable regional focus on affordable housing preservation and equity-based community development.

Others

• Build Healthy Places Network: National network supporting community development organizations working at the intersection of health, housing, and economic opportunity. Comparable cross-sector focus and provides peer learning SERP could leverage for Beacon Point health-anchor programming.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Southeast Raleigh Promise