Overview
- IndustryReal Estate Investment Trusts2
- HeadquartersWashington, United States2
- Incorporated inDE4
- Business address11 Dupont Circle Nw, 9Th Floor, Washington, Dc 200364
- Filer category, Emerging growth company4
- Legal formCorporation2
- Kind of organizationReal estate vehicle2
- LEI254900BGJ8YCQOQYJK892
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 54948892
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Rise Companies is a Delaware corporation that was formed on March 10, 2014. The Company, together with its subsidiaries and affiliate organizations (“Fundrise”), combines modern financial technology and investment management to build the next generation of alternative asset management. The Fundrise Platform has allowed us to build a differentiated business with what we believe is a significant competitive advantage and a robust, proprietary software infrastructure.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development35¢$20.1M
- Other costs65¢$37.1M
- Income tax0¢$1.0K
Out of $57.2M in revenue.3 The company lost money this year.
Financial statements
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $54.7M3 | $57.2M3 | |
| Research and development | $14.6M3 | $20.1M3 | |
| Operating expenses | $65.2M3 | $72.7M3 | |
| Operating income | -$10.5M3 | -$15.5M3 | |
| Income before tax | -$7.9M3 | -$11.8M3 | |
| Income tax | -$43.0K3 | $1.0K3 | |
| Net income | -$9.0M3 | -$12.5M3 | |
| Earnings per share | -$0.273 | -$0.383 | |
| Earnings per share (diluted) | -$0.273 | -$0.383 | |
| Shares (weighted, basic) | 32.9M shares3 | 32.5M shares3 | |
| Shares (weighted, diluted) | 32.9M shares3 | 32.5M shares3 |
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash | $41.1M3 | $21.1M3 | $9.2M3 |
| Current assets | $44.0M3 | $33.6M3 | |
| Property, plant and equipment | $35.1M3 | $28.8M3 | |
| Total assets | $87.3M3 | $70.1M3 | |
| Accounts payable | $947.0K3 | $528.0K3 | |
| Current liabilities | $15.3M3 | $10.8M3 | |
| Total liabilities | $19.7M3 | $14.5M3 | |
| Retained earnings | -$169.8M3 | -$182.3M3 | |
| Shareholders’ equity | $56.8M3 | $31.0M3 | $18.3M3 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Corporate structure
Rise Companies Corp sits at the top of its group. 11 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
- Rise Companies Corp Washington, the District of Columbia, United States
- Fundrise Advisors LLC Subsidiary · Delaware, United States
- Fundrise eREIT, LLC Subsidiary · Delaware, United States
- Fundrise GP I, LLC Subsidiary · Delaware, United States
- Fundrise Lending, LLC Subsidiary · Delaware, United States
- Fundrise Management, LLC Subsidiary · Delaware, United States
- Fundrise Real Estate Interval Fund II, LLC Subsidiary · Delaware, United States
- Fundrise Real Estate, LLC Subsidiary · Delaware, United States
- Fundrise Servicing LLC Subsidiary · Delaware, United States
- Fundrise, LLC Subsidiary · Delaware, United States
- RealAI Systems, LLC Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC. Each entity in the chart links to its source.
What it owns
What Rise Companies Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $69.9M3 Dec 31, 2025 | $64.1M3 Dec 31, 2024 | +9.2% |
| Accumulated depreciation | $41.2M3 Dec 31, 2025 | $29.0M3 Dec 31, 2024 | +42.0% |
| Property and equipment, net | $28.8M3 Dec 31, 2025 | $35.1M3 Dec 31, 2024 | −18.0% |
| Operating-lease assets (leased space) | $2.9M3 Dec 31, 2025 | $3.4M3 Dec 31, 2024 | −13.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $9.2M3 Dec 31, 2025 | $21.1M3 Dec 31, 2024 | −56.1% |
| Stakes in other companies (equity method) | $1.4M3 Dec 31, 2025 | $1.2M3 Dec 31, 2024 | +9.9% |
Properties, in its own words
Please refer to Item 1, Business of this Annual Report for information concerning our properties.
Item 2 of the 10-K filed Mar 23, 2026.6
Leadership
Who has led Rise Companies Corp, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerBenjamin S. Miller Jun 24, 2025 to now11
- Chief financial officerAlison Staloch Jun 24, 2025 to now12
- Chief operating officerBrandon T. Jenkins Jun 24, 2025 to now13
Board members and other officers (6)
- GC, CCO, & Corporate SecretaryBjorn Hall Jun 24, 2025 to now14
- CTOKenny Shin Jun 24, 2025 to now15
- Board memberBenjamin S. Miller Jun 24, 2025 to now11
- Board memberBrandon T. Jenkins Jun 24, 2025 to now13
- Board memberHaniel J. Lynn Jun 24, 2025 to now16
- Board memberTal Kerret Jun 24, 2025 to now17
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Fundrise Advisors LLC Delaware5
- Fundrise GP I, LLC Delaware5
- Fundrise Lending, LLC Delaware5
- Fundrise Management, LLC Delaware5
- Fundrise Real Estate Interval Fund II, LLC Delaware5
- Fundrise Real Estate, LLC Delaware5
- Fundrise Servicing LLC Delaware5
- Fundrise eREIT, LLC Delaware5
- Fundrise, LLC Delaware5
- Fundrise, LP Delaware5
- RealAI Systems, LLC Delaware5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
Filings
146 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 4 major events, 8 insider forms, 1 private raises, 128 other. The latest 20:
- Aug 20, 20268-K EDGAR
- Aug 20, 2026253G2 EDGAR
- Aug 19, 2026QUALIF EDGAR
- Aug 11, 20261-A POS EDGAR
- Aug 7, 20268-K EDGAR
- Aug 7, 2026253G2 EDGAR
- Aug 7, 202610-Q EDGAR
- May 15, 2026253G2 EDGAR
- May 8, 202610-Q EDGAR
- Mar 23, 202610-K EDGAR
- Feb 17, 2026253G2 EDGAR
- Feb 17, 20268-K EDGAR
- Nov 7, 202510-Q EDGAR
- Sep 24, 20258-K EDGAR
- Sep 24, 2025253G2 EDGAR
- Sep 23, 2025QUALIF EDGAR
- Sep 19, 2025CORRESP EDGAR
- Sep 19, 2025UPLOAD EDGAR
- Sep 11, 20251-A EDGAR
- Aug 8, 202510-Q EDGAR
The 146 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Money raised
Private offerings the company reported to the SEC on Form D.
- Oct 27, 2021Filed a private offering of equity Form D: $100 million offered in all Form D
SEC filer profile
How Rise Companies Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARRise Companies Corp1
- CIK0001640967
- Employer ID (EIN)45-48624606
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company6
- Incorporated inDelaware6
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address11 Dupont Circle Nw, 9Th Floor, Washington, DC 200361
- Phone617-570-10391
- Shares outstanding2,458,394 Common Class A shares; 20,056,589 Common Class B shares; 10,000,000 Common Class F shares as of Mar 16, 20266
- AuditorKPMG LLP, Philadelphia, Pennsylvania PCAOB ID 185; no auditor attestation of internal control over financial reporting6
- On EDGAR sinceMay 1, 20151
- Filings305 in all: 253G2 (87), 1-U (74), UPLOAD (23), 1-A POS (20), CORRESP (20), QUALIF (17), 3 (13), 1-K (9)1
All 21 form types
1-SA (8), 1-A (4), 1-A/A (4), 10-Q (4), 8-K (4), DOS/A (4), 1-U/A (3), D (3), DOSLTR (3), 10-12G/A (2), 10-12G (1), 10-K (1), DOS (1)
- Latest filingsAnnual report (10-K) Mar 23, 2026
Quarterly report (10-Q) Aug 7, 2026
Latest 8-K (8-K) Aug 20, 2026
Risk factors and legal proceedings
The risks Rise Companies Corp names in Item 1A of its 10-K filed Mar 23, 2026: 43 risks under these headings, as written.6
- Risks Related to Our Business
- The growth of our business depends in large part on our ability to raise capital from investors. If we are unable to raise capital from new or existing investors or existing investors decide to withdraw their investments from our Investment Products, our Investment Products will be unable to deploy such capital into investments and we will be unable to collect additional fees, which would have a negative effect on our growth prospects.
- We are currently incurring net losses and expect to continue incurring net losses in the future.
- The loss of our executive officers or key personnel could have an adverse effect on our business. Our ability to attract and retain qualified investment professionals is critical to our success.
- The investment management business is intensely competitive.
- Poor performance of our Investment Products would cause a decline in our revenues and results of operations and could adversely affect our ability to raise capital for future Investment Products.
- The performance of our Investment Products depends primarily on the performance and value of the underlying assets that our Investment Products own or in which our Investment Products make debt or equity investments. Lack of performance or a reduction in the value of these assets may adversely affect the performance of our Investment Products, and our financial condition and results of operations may be harmed.
- Fees received in connection with the management of our Investment Products comprise a significant portion of our revenues and a reduction in or elimination of such fees, including from the termination of certain relationships with our Investment Products, could have an adverse effect on our revenues and results of operations.
- The Investment Products face competition for investment opportunities, which could reduce returns and result in losses to the Investment Products and reduce our revenues.
- The significant growth we have experienced, particularly with respect to assets under management and revenues, is difficult to sustain.
- Our failure to manage future growth effectively may have an adverse effect on our financial condition and results of operations.
- We intend to expand into new investment strategies and geographic markets and enter into new lines of business, each of which results in additional risks and uncertainties in our businesses.
The other 32 risks
- Operational risks may disrupt our business, result in losses or limit our growth.
- We rely on third-party service providers for critical functions, and any failure by these providers to perform effectively, comply with applicable laws, or maintain their relationships with us could adversely affect our business.
- The occurrence of a cyber incident, or a deficiency in our cybersecurity, could negatively impact our business by causing a disruption to our operations, a compromise or corruption of our confidential information, or damage to our business relationships and reputation, all of which could negatively impact our financial results.
- Artificial generative intelligence technologies present risks related to the control of our proprietary business information, keeping such information confidential, and emerging regulatory risk, any or all of which may adversely affect our business and results of operations.
- If our techniques for managing risk are ineffective, we may be exposed to unanticipated losses.
- The investment management industry faces substantial litigation risks that could adversely affect our business, financial condition or results of operations or cause significant reputational harm to us.
- Any failure to protect our own intellectual property rights could impair our brand, or subject us to claims for alleged infringement by third parties, which could harm our business.
- Risks Related to our Structure
- We are controlled by our executive officers who hold shares of our common stock, and their interests may conflict with those of our other stockholders.
- The holders of our Series A Preferred Stock and Class F Common Stock could restrict our ability to enter into various corporate transactions that may be beneficial to our business strategy.
- Holders of our Class B Common Stock have no voting rights, except under limited circumstances, and their ability to influence the outcome of important transactions of the Company, including a change in control, are limited.
- As a non-listed company, we are not subject to a number of corporate governance requirements, including the requirements for independent board committees.
- Certain provisions of our amended and restated certificate of incorporation, our bylaws and Delaware law could hinder, delay or prevent a change of control of the Company.
- We do not expect to declare dividends in the foreseeable future.
- Risks Relating to Economic Conditions
- Economic recessions or downturns may have an adverse effect on our business, financial condition and results of operations.
- Global economic, political, including geopolitical, and market conditions and economic uncertainty may adversely affect our business, results of operations and financial condition.
- Inflation may adversely affect our financial condition and results of operations.
- Uncertainty regarding tariffs and trade policies and the impacts from any such policies could adversely affect our business, financial condition and results of operations.
- Risks Related to our Development and the Fundrise Platform
- If we were to enter bankruptcy proceedings, the operation of the Fundrise Platform and the activities with respect to our operations and business would be interrupted and subscription proceeds held in a segregated account may be subject to the bankruptcy.
- Any significant disruption in service on the Fundrise Platform or in its computer systems could reduce the attractiveness of the Fundrise Platform and result in a loss of members.
- We rely on third-party banks and on third-party computer hardware and software. If we are unable to continue utilizing these services, our business and our Investment Products’ ability to service the corresponding project loans and equity investments may be adversely affected.
- Risks Related to Compliance and Regulation
- We and our Investment Products are subject to extensive regulation, and failure to comply with such regulation or any applicable future regulation could have an adverse effect on our business.
- The regulatory environment in which we operate is subject to continual change and regulatory developments designed to increase oversight and may adversely affect our business.
- We are subject to extensive data privacy regulations, and failure to comply could adversely affect our business.
- We will not be required to comply with certain reporting requirements, including those relating to auditor’s attestation reports on the effectiveness of our system of internal control over financial reporting, accounting standards and disclosure about our executive compensation, that apply to other public companies.
- We are not subject to the banking regulations of any state or federal regulatory agency.
- Recent legislative and regulatory initiatives have imposed restrictions and requirements on financial institutions that could have an adverse effect on our business.
- As Internet commerce develops, federal and state governments may adopt new laws to regulate Internet commerce, which may negatively affect our business.
- Future government shutdowns could adversely affect our business, financial condition and results of operations.
- Risks Related to Conflicts of Interest
- There are conflicts of interest between us and our affiliates.
- The interests of our executive officers, directors and affiliates may conflict with our interests.
- As we establish additional Investment Products in the future, there may be conflicts of interests among the various Investment Products, which may result in opportunities that would benefit some Investment Products over others. Our failure to adequately address such conflicts of interest could damage our reputation and adversely affect our business.
- The conflicts of interest policies we have adopted may not adequately address all of the conflicts of interest that may arise with respect to our activities and are subject to change or suspension.
Legal proceedings
As of the date of this Annual Report we are not currently named as a defendant in any active or pending material litigation. However, it is possible that the Company could become involved in various litigation matters arising in the ordinary course of our business. Although we are unable to predict with certainty the eventual outcome of any litigation, management is not aware of any litigation likely to occur that we currently assess as being significant to us.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARKenny Shin, CTO
- 16SEC EDGARHaniel J. Lynn, Board member
- 17SEC EDGARTal Kerret, Board member
- 18
- 19SEC EDGAROther events
- 20SEC EDGAROther events
- 21