2025-07-18T17:13:08-05:00 2024-12-31 132781641 MITCHELL & TITUS LLP 80 PINE STREET 32ND FL NEW YORK NY 10005 990 2024-01-01 873827062 ANACOSTIA ENTREPRENEURSHIP CENTER INC ANAC 2025295505 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 SHANNAN HERBERT BOARD CHAIR 2029645915 2025-07-18 1 0 QIAN ZHANG P01306575 2127094500 2025-06-25 2024 2025-03-06 01:10:19Z X SHANNAN HERBERT 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 992244 0 X N/A X 2021 DC TO INTEGRALLY SUPPORT THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF, WACIF. 3 0 0 0 0 0 198158 621716 404420 370528 0 0 0 0 602578 992244 0 0 0 0 283957 458664 0 0 0 344947 433091 628904 891755 -26326 100489 713698 174397 698282 58492 15416 115905 TO INTEGRALLY SUPPORT THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF, THE WASHINGTON AREA COMMUNITY INVESTMENT FUND, INC (WACIF). 0 0 891755 0 370528 SMALL BUSINESS SUPPORT - THE ANACOSTIA ENTREPRENEURSHIP CENTER, INC. (AEC) PROVIDED SUPPORT TO SMALL BUSINESSES, NONPROFITS, AND SOCIAL ENTERPRISES THROUGH OFFERING AFFORDABLE COMMERCIAL, RETAIL SPACE, AND COMMUNITY MEETING SPACE TO OVER 80 SMALL BUSINESSES WITHIN WASHINGTON, D.C.'S WARD 8 COMMUNITY THROUGH ITS RETAIL STORE FRONTS, THE "HIVE" CO-WORKING FACILITY, AND BLACK BOX THEATER. IN ADDITION, THE AEC WAS UTILIZED TO PROVIDE CONVENINGS IN SUPPORT AND IN CELEBRATION OF MINORITY-OWNED BUSINESSES, INCLUDING ARTISTS. 891755 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 0 0 0 DC X SHANNAN HERBERT 2025295505 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 KEVIN FRYATT CFOO & COO-INTERIM CEO UNTIL 5/3/24 2.00 42.00 X X 0 82837 11988 MICHAEL JOHNS SECRETARY 2.00 40.00 X 0 88535 482 SHANNAN HERBERT BOARD CHAIR AND CEO 2.00 42.00 X X 0 209947 23544 DAVID MALEY VICE CHAIR AND TREASURER 2.00 40.00 X 0 139109 12460 MESSAY DEREBE DIR., GENERAL ANACOSTIA ARTS CENTER 12.00 30.00 X 0 146736 14950 0 667164 63424 0 0 1 0 0 621716 621716 RENTAL INCOME 900099 364563 364563 ADMIN. SERVICE FEES 900099 5965 5965 370528 992244 370528 0 0 383680 383680 9310 9310 38083 38083 27591 27591 11775 11775 1100 1100 7675 7675 66234 66234 3505 3505 28213 28213 24141 24141 144376 144376 7563 7563 15358 15358 95313 95313 10000 10000 17838 17838 891755 891755 0 0 505813 148306 41641 0 0 4900 144577 9524 30000 18333 21667 11667 713698 174397 4170 15350 694112 43142 698282 58492 X 15416 115905 15416 115905 713698 174397 100489 0 X 0 1 X 1 0 X X 1 WASHINGTON AREA COMMUNITY INVESTMENT FUND 541442466 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30000 18333 11667 11667 SECURITY DEPOSIT 25760 DUE TO RELATED ENTITIES 17382 43142 X PART X, LINE 2: ANACOSTIA ENTREPRENEURSHIP CENTER, INC. (AEC), FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN FASB ASC TOPIC 740, INCOME TAXES. AEC PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEAR ENDED DECEMBER 31, 2024, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF DECEMBER 31, 2024, THE STATUTE OF LIMITATIONS FOR TAX YEARS ENDED DECEMBER 31, 2021 THROUGH DECEMBER 31, 2022, REMAINED OPEN WITH THE U.S. FEDERAL JURISDICTION OR VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH AEC FILES TAX RETURNS; HOWEVER, THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. IT IS AEC'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAINTY IN INCOME TAXES, IF ANY, IN INCOME TAX OR INTEREST EXPENSE. 0 0 0 0 0 0 0 0 0 SHANNAN HERBERT BOARD CHAIR AND CEO 0 194947 0 15000 0 0 0 9937 0 13607 0 233491 0 0 MESSAY DEREBE DIR., GENERAL ANACOSTIA ARTS CENTER 0 146736 0 0 0 0 0 7500 0 7450 0 161686 0 0 DAVID MALEY VICE CHAIR AND TREASURER 0 139109 0 0 0 0 0 5952 0 6508 0 151569 0 0 PART I, LINE 3 AEC UTLIZES WACIF STAFF UNDER A SECONDMENT AGREEMENT. COMPENSATION IS DETERMINED THROUGH WACIF'S INTERNAL PROCESSES. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE CURRENTLY NO ACTIVE BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION REVIEWS THE DRAFT FEDERAL FORM 990 AT THE MANAGEMENT LEVEL. ONCE REVIEWED AND DEEMED READY FOR APPROVAL, IT IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. UPON BOARD OF DIRECTORS APPROVAL, THE FEDERAL FORM 990 IS READY FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATION'S CONFLICT OF INTEREST POLICY IS SIGNED BY ALL STAFF AND BOARD MEMBERS UPON COMMENCING THEIR PROFESSIONAL RELATIONSHIP TO THE CORPORATION. ON AN ANNUAL BASIS, ALL STAFF AND BOARD MEMBERS RE-SIGN THE CORPORATION'S CONFLICT OF INTEREST POLICY, DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. ANY CONFLICTS OF INTEREST THAT EXIST ARE DISCUSSED AMONG THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE CORPORATION'S GOVERNING DOCUMENTS, INCLUDING ITS ORGANIZATIONAL BYLAWS, AUDITED FINANCIAL STATEMENTS, FEDERAL FORM 990, AND CONFLICT OF INTEREST POLICY, ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. WASHINGTON AREA COMMUNITY INVESTMENT FUND INC (WACIF) 2012 RHODE ISLAND AVENUE WASHINGTON DC 20018 541442466 INCLUSIVE ENTREPRENEURSHIP, COMM. WEALTH BUILDING, AND EQUITABLE ECON. DEV. DC 501(C)(3) LINE 7 N/A 0 1231-1235 GOOD HOPE ROAD INC 2012 RHODE ISLAND AVENUE WASHINGTON DC 20018 873806971 OPERATED EXCLUSIVELY ON BEHALF OF AND FOR THE BENEFIT OF WACIF DC 501(C)(3) LINE 12C, III-FI WASHINGTON AREA COMMUNITY INVESTMENT FUND INC 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0