2026-08-25T14:25:44-05:00 2025-12-31 132781641 MITCHELL & TITUS LLP 80 PINE STREET 32ND FL NEW YORK NY 10005 990 2025-01-01 541442466 WASHINGTON AREA COMMUNITY INVESTMENT FUND INC WASH 2025295505 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 SHANNAN HERBERT CHIEF EXECUTIVE OFFICER 2025295505 2026-08-25 1 QIAN ZHANG P01306575 2127094500 2026-08-25 2025 2025-03-06 01:10:19Z SHANNAN HERBERT 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 6672318 0 X WWW.WACIF.ORG X 1987 VA TO INCREASE EQUITY AND ECONOMIC OPPORTUNITY BY INVESTING KNOWLEDGE, SOCIAL, AND FINANCIAL CAPITAL IN LOW- AND MODERATE-INCOME WASHINGTON AREA ENTREPRENEURS. 20 20 35 20 0 0 3021151 5823819 887456 658591 163216 152878 69707 37030 4141530 6672318 719366 844625 0 0 3806441 3122124 23900 118001 958944 1836749 2823006 6386456 6907756 -2244926 -235438 12057310 11508062 6369850 6057282 5687460 5450780 X THE WASHINGTON AREA COMMUNITY INVESTMENT FUND (WACIF) IS A NONPROFIT COMMUNITY LOAN FUND FOCUSED ON INCREASING EQUITY AND ECONOMIC OPPORTUNITY IN THE WASHINGTON, DC AREA'S UNDERSERVED COMMUNITIES. WACIF'S MISSION IS DRIVEN BY THREE STRATEGIC PILLARS: INCLUSIVE ENTREPRENEURSHIP, COMMUNITY WEALTH BUILDING, AND EQUITABLE ECONOMIC OPPORTUNITY, AND IS FULFILLED BY PROVIDING ACCESS TO CAPITAL PRODUCTS AND SERVICES, AND CAPACITY BUILDING ADVISORY SERVICES TO LOW- AND MODERATE-INCOME ENTREPRENEURS. 0 0 2978046 844625 37030 SMALL BUSINESS ADVISORY SERVICES - WACIF PROVIDES A VARIETY OF ADVISORY OPPORTUNITIES IN UNDERSERVED D.C. AREA COMMUNITIES INCLUDING GROUP CLASSES, ONE-ON-ONE ADVISEMENT ON SPECIFIC CAPACITY BUILDING ISSUES TO IDENTIFY AREAS OF GROWTH, AND INTENSIVE, COHORT-BASED PROGRAMS LIKE OUR ASCEND CAPITAL ACCELERATOR. WACIF'S SMALL BUSINESS ADVISORY EXPERTISE AND OFFERINGS COVER TOPICS INCLUDING BUSINESS PLANNING, MARKETING, FINANCIAL MANAGEMENT, LAW, REAL ESTATE, AND GETTING TRANSACTION-READY.IN 2025, WACIF MADE A POWERFUL DIFFERENCE, DELIVERING A TRANSFORMATIVE YEAR OF IMPACT. WACIF HOSTED 109 EVENTS WITH A COMBINED 1057 ATTENDEES AND PROVIDED OVER 591 HOURS OF TECHNICAL ASSISTANCE, EMPOWERING ENTREPRENEURS AND SMALL BUSINESS OWNERS WITH THE TOOLS THEY NEED TO SUCCEED.THROUGH STRATEGIC COLLABORATION WITH MORE THAN 36 GROWTH PARTNERS, PROFESSIONAL SERVICE PROVIDERS, INSTRUCTORS, ARTISTS, AND CREATIVES, WACIF DELIVERED TOP-TIER SUPPORT THAT STRENGTHENED OUR CLIENTS' PATHWAYS TO GROWTH AND SUSTAINABILITY. ADDITIONALLY, OUR OUTREACH AND ENGAGEMENT EFFORTS EXTENDED TO OVER 16 ORGANIZATIONS ACROSS MARYLAND AND VIRGINIA, WHERE WE LED PANEL DISCUSSIONS, DELIVERED CAPITAL READINESS TRAINING, AND BUILT STRONGER ENTREPRENEURIAL ECOSYSTEMS. 1368721 0 658591 LENDING - WACIF'S ACCESS TO CAPITAL AND LENDING ACTIVITIES PROVIDE FLEXIBLE FINANCING FOR SMALL BUSINESSES OWNED BY, OPERATING IN OR SERVING LOW-TO-MODERATE INCOME COMMUNITIES IN THE DC AREA. IN 2025, WACIF DEPLOYED OVER $1.4M IN LOANS TO SMALL BUSINESSES, INCLUDING TERM LOANS AND LINES OF CREDIT, AND GROSS PORTFOLIO OUTSTANDING YEAR-END WAS $4.9M. WACIF HAS SEVERAL LOAN FUNDS TO SUPPORT A CONTINUUM OF ENTREPRENEURS THAT ARE UNABLE TO ACCESS TRADITIONAL FINANCING FROM BANKS, INCLUDING ESTABLISHED BUSINESS OWNERS. WACIF'S VARIOUS LENDING PROGRAMS BRIDGE THE FINANCING GAP FOR UNDERSERVED ENTREPRENEURS GRADUATING TO TRADITIONAL LENDERS, CREATING ECONOMIC OPPORTUNITY IN LOW-TO-MODERATE INCOME COMMUNITIES. WACIF'S ACCESS TO CAPITAL (ATC) FUND IS THE ORGANIZATION'S HISTORICAL AND MOST FLEXIBLE SOURCE FOR SMALL BUSINESS FINANCING. THE ATC FUND REMAINS A COMMUNITY ASSET WHICH BEGAN WITH AND HAS BEEN SUSTAINED FOR OVER 30 YEARS BY INDIVIDUAL AND INSTITUTIONAL, SOCIALLY RESPONSIBLE INVESTORS SEEKING POSITIVE FINANCIAL AND SOCIAL RETURNS FROM THEIR INVESTMENT. 4346767 1 1 0 0 0 0 0 0 1 0 1 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 57 0 35 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DC VA MD X JOHN MCLEAN 2025295505 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 MATT GLATTING BOARD CHAIR 3.00 0.00 X X 0 0 0 EVAN PIEKARA SECRETARY 2.00 0.00 X X 0 0 0 ROBERT RIORDAN BOARD VICE CHAIR 2.00 0.00 X X 0 0 0 ANDREA LONGTON TREASURER 2.00 0.00 X X 0 0 0 COURTNEY R SNOWDEN BOARD MEMBER 1.00 0.00 X 0 0 0 MARISA G FLOWERS BOARD MEMBER 1.00 0.00 X 0 0 0 JESSEL AMIN BOARD MEMBER 1.00 0.00 X 0 0 0 CARYLN MADDEN BOARD MEMBER 1.00 0.00 X 0 0 0 EMEKA MONEME BOARD MEMBER 1.00 0.00 X 0 0 0 KLADE HARE NERSASIAN BOARD MEMBER 1.00 0.00 X 0 0 0 COREY GRIFFIN BOARD MEMBER 1.00 0.00 X 0 0 0 NANCY STARK BOARD MEMBER 1.00 0.00 X 0 0 0 AQUIL STINSON BOARD MEMBER 1.00 0.00 X 0 0 0 MACEO CLARK BOARD MEMBER 1.00 0.00 X 0 0 0 NORA DIAMOND-JONES BOARD MEMBER 1.00 0.00 X 0 0 0 MALACHI MCKINNEY BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN NAGENDRA BOARD MEMBER 1.00 0.00 X 0 0 0 ALEXANDRA SING BOARD MEMBER 1.00 0.00 X 0 0 0 SCOTT YOCHUM BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN CAPPELINI BOARD MEMBER 1.00 0.00 X 0 0 0 SHANNAN HERBERT CHIEF EXECUTIVE OFFICER 40.00 4.00 X 251622 0 37587 KIMBERLY GAYLE CHIEF PROGRAMS OFFICER 40.00 0.00 X 159177 0 21758 MEGAN CARRAS CHIEF DEVELOPMENT OFFICER 40.00 2.00 X 159260 0 9823 KARA ULMER OPERATIONS DIRECTOR 40.00 0.00 X 155932 0 12827 DAVID MALEY INTERIM CFO UNTIL MARCH 2025 40.00 2.00 X 100594 0 9550 JOHN MCLEAN CHIEF FINANCIAL OFFICER 40.00 4.00 X 126440 0 13541 MESSAY DEREBE AAC GENERAL DIRECTOR 30.00 12.00 X 151382 0 16282 JUNELL VENORD HUMAN CAPITAL DIRECTOR 40.00 0.00 X 133459 0 13507 MARISELA RODELA OWI PROGRAM DIRECTOR 40.00 0.00 X 105883 0 22605 RASUL SHA'IR SMALL BUSINESS ADVISOR 40.00 0.00 X 100880 0 16637 1444629 0 174117 10 0 1 0 BOUNTIFUL LLC 46890 BRYAN RD LEXINGTON MD 20653 GRANT WRITING 110500 THE FEHLIG GROUP 1 ARCH PLACE SUITE 421 GAITHERBURG MD 20878 TRAINING & TECH ASSISTANCE CONSULTANT 108000 2 1098099 4725720 5823819 INTEREST FROM LOANS 900099 582839 582839 LOAN FEES 900099 75752 75752 658591 152878 152878 SPONSORSHIP 900099 24000 24000 EVENT INCOME 900099 13030 13030 37030 6672318 695621 0 152878 X 844625 844625 1167940 393642 544933 229365 1579988 1079342 254774 245872 65218 46510 10082 8626 183544 134059 20324 29161 125434 90226 16967 18241 103839 39517 56448 7874 41957 20706 19302 1949 93882 54484 26988 12410 118001 118001 953443 602422 266805 84216 134539 33735 3898 96906 119455 60992 42794 15669 358433 189408 123563 45462 100752 59368 29152 12232 15221 9370 2171 3680 71087 46130 18016 6941 96620 52638 29704 14278 4000 4000 29861 16310 9862 3689 LOAN OPERATION 572306 572188 82 36 SUBGRANTS 125301 0 125301 0 OFFICE GIFTS 2310 1095 879 336 6907756 4346767 1602045 958944 3791288 2944084 1897758 2782677 611822 528685 101493 123834 106118 106068 288097 268097 0 20000 239 239 4868570 4331957 680022 670518 12057310 11508062 131471 366499 1980042 1231821 75933 6674 1000 1000 287315 225852 3729548 4142470 164541 82966 6369850 6057282 X 4533714 3515878 1153746 1934902 5687460 5450780 12057310 11508062 -235438 -1242 0 X 0 1 X 1 1 1 X 6647641 6871349 6816270 3021151 5823819 29180230 6647641 6871349 6816270 3021151 5823819 29180230 5342303 23837927 4252 2656 126501 163216 152878 449503 3020 10347 69707 37030 120104 29749837 5486775 0.80130 0.80330 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2022 AMOUNT: $ 3,020. 2023 AMOUNT: $ 4,659. 2024 AMOUNT: $ 29,479. REBATES - 2023 AMOUNT: $ 5,688. 2024 AMOUNT: $ 5,228. SPONSORSHIP - 2024 AMOUNT: $ 35,000. 2025 AMOUNT: $ 24,000. EVENT INCOME - 2025 AMOUNT: $ 13,030. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 106861 106861 0 181236 161236 20000 20000 LOANS RECEIVABLE 4331957 C 4331957 DEPOSITS 8300 DUE FROM RELATED ENTITIES 565390 RIGHT-OF-USE ASSETS 96828 670518 LEASE LIABILITY 82966 82966 X PART IV, LINE 2B: IN 2025, WACIF ACTED AS AN AGENT AND INTERMEDIARY FOR THE OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION (OSSE) AND THE DC DEPUTY MAYOR FOR PLANNING AND ECONOMIC DEVELOPMENT (DMPED), DISTRIBUTING GRANT FUNDS TO VARIOUS SMALL BUSINESSES IN WASHINGTON, D.C. WACIF HAS BEEN SELECTED TO MANAGE AND SERVICE CERTAIN FUNDS AND PROGRAMS ON BEHALF OF THE FEDERAL GOVERNMENT, DISTRICT OF COLUMBIA, AND OTHER THIRD-PARTY ORGANIZATIONS. SUCH FUNDS AND PROGRAMS INCLUDE THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM, STREETSCAPE LOAN RELIEF FUND, DISTRICT CAPITALIZED LOAN PROGRAM, TENANT SETTLEMENT FUND AND DC DEPARTMENT OF INSURANCE, SECURITIES AND BANKING (DISB) WITH PURPOSES OF PROVIDING LOANS TO SMALL BUSINESSES AND OTHER REIMBURSEMENTS TO TENANTS IN ACCORDANCE WITH SETTLEMENT AGREEMENTS. THESE FUNDS ARE INCLUDED IN RESTRICTED CASH (ASSETS) AND FUNDS HELD ON BEHALF OF OTHERS (LIABILITIES) IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. PART X, LINE 2: WACIF FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN FASB ASC TOPIC 740, INCOME TAXES. WACIF PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEAR ENDED DECEMBER 31, 2025, 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, 2025, THE STATUTE OF LIMITATIONS FOR TAX YEARS ENDED DECEMBER 31, 2022, THROUGH DECEMBER 31, 2024, REMAINED OPEN WITH THE U.S. FEDERAL JURISDICTION OR VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH WACIF FILES TAX RETURNS; HOWEVER, THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. IT IS WACIF'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAINTY IN INCOME TAXES, IF ANY, IN INCOME TAX OR INTEREST EXPENSE. X X X X X 1 FRIEDMAN ASSOCIATES KNOLLWOOD LANE IOWA CITY IA 52245 GRANT WRITING 0 0 7500 0 BOUNTIFUL LLC 46890 BRYAN RD LEXINGTON MD 20653 GRANT WRITING 0 0 110500 0 118000 DC MD VA 1 YELEEN BEAUTY LLC 2 MASSACHUSETTS AVENUE 1841 WASHINGTON DC 20013 851614780 60000 0 PROGRAM SUPPORT ANACOSTIA ENTREPRENEURSHIP CENTER INC 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 873827062 501(C)(3) 404882 0 OPERATING SUPPORT 1231-1235 GOOD HOPE ROAD INC 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 873806971 501(C)(3) 275215 0 OPERATING SUPPORT BBAR 1432 U STREET NW WASHINGTON DC 20009 522013526 501(C)(3) 125000 0 PROGRAM SUPPORT SEED SPOT INC 515 E GRANT ST SUITE 150 PHOENIX AZ 85004 454098436 501(C)(3) 60000 0 PROGRAM SUPPORT 4 1 PART I, LINE 2: WACIF CURRENTLY ISSUES SUB-GRANTS TO SMALL BUSINESSES AS PART OF MANY OF THE PROGRAMS IT MANAGES. THESE GRANTS ARE MONITORED ACCORDING TO GUIDELINES PROVIDED EITHER BY THE GRANTING AGENCY OR WACIF ITSELF, IN THE EVENT THE GRANTING AGENCY OR DONOR HAS NOT PROVIDED SUCH GUIDANCE. THIS OFTEN INVOLVES JUSTIFICATION OF USE OF FUNDS THROUGH RECEIPTS AND OTHER DOCUMENTATION AS WELL AS NARRATIVE DESCRIPTION. SCHEDULE I, PART II, LINE 1 TOTAL GRANTS INCLUDE PASS THROUGH GRANTS (CO-GRANTEE LIKE BBAR) WHILE PART IX, LINE 1 INCLUDES ONLY SUBGRANT ACTIVITIES WHERE WACIF IS USING GRANT FUNDS TO PAY OUTSIDE CONTRACTORS TO DELIVER SERVICES IN FULFILLMENT OF GRANTOR REQUIREMENTS. X X X 0 0 0 0 0 0 0 1 0 SHANNAN HERBERT CHIEF EXECUTIVE OFFICER 251489 0 0 0 133 0 13594 0 23993 0 289209 0 0 0 KIMBERLY GAYLE CHIEF PROGRAMS OFFICER 159177 0 0 0 0 0 8206 0 13552 0 180935 0 0 0 MEGAN CARRAS CHIEF DEVELOPMENT OFFICER 158989 0 271 0 0 0 2025 0 7798 0 169083 0 0 0 KARA ULMER OPERATIONS DIRECTOR 155932 0 0 0 0 0 0 0 12827 0 168759 0 0 0 MESSAY DEREBE AAC GENERAL DIRECTOR 151111 0 271 0 0 0 7695 0 8587 0 167664 0 0 0 PART I, LINE 7 ON DECEMBER 31, 2025, WACIF PAID A NON-FIXED DISCRETIONARY BONUS PAYMENT TO ELIGIBLE STAFF BASED ON THE YEARS OF SERVICES. NANCY STARK BOARD CHAIR IMPACT CAPITAL FUND X 1000 1000 0 0 1 1000 FORM 990, PART VI, SECTION B, LINE 11B FIRSTLY, WACIF REVIEWS THE DRAFT FEDERAL FORM 990 AT THE MANAGEMENT LEVEL. SECONDLY, IT IS THEN PRESENTED TO THE BOARD-LEVEL FINANCE & AUDIT COMMITTEE FOR REVIEW. ONCE REVIEWED AND DEEMED READY FOR APPROVAL, THE FINANCE & AUDIT COMMITTEE THEN PROVIDES A RECOMMENDATION TO THE BOARD OF DIRECTORS TO APPROVE THE DOCUMENT. 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 WACIF'S CONFLICT OF INTEREST POLICY IS SIGNED BY ALL STAFF AND BOARD MEMBERS UPON COMMENCING THEIR PROFESSIONAL RELATIONSHIP TO WACIF. ON AN ANNUAL BASIS, ALL STAFF AND BOARD MEMBERS RE-SIGN WACIF'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 B, LINE 15 CEO COMPENSATION WAS SET USING EXTERNAL MARKET RATE RESEARCH CONDUCTED BY A THIRD PARTY, AND APPROVED BY THE EXECUTIVE COMMITTEE WITH INPUT FROM THE FULL BOARD OF DIRECTORS. FUTURE ADJUSTMENTS WILL BE DEPENDENT ON MEETING ESTABLISHED PERFORMANCE GOALS. PERFORMANCE EVALUATIONS, SALARY SURVEYS, EXPERT KNOWLEDGE AND EXPERIENCE AND ORGANIZATIONAL BUDGET ARE OFTEN KEY DETERMINANTS OF THE CEO'S SALARY. THE CHIEF FINANCIAL & OPERATIONS OFFICER AND OTHER KEY EMPLOYEES' SALARIES ARE DETERMINED BY THE CEO, IN CONJUNCTION WITH BUDGET AVAILABILITY OVERSEEN BY THE BOARD OF DIRECTORS. ANY SUBSEQUENT ADJUSTMENTS TO SALARY LEVELS OF OFFICERS OR KEY EMPLOYEES ARE DETERMINED THROUGH REVIEW OF JOB PERFORMANCE, GOALS, AND WITHIN INDUSTRY STANDARDS TO ENSURE COMPETITIVENESS. FORM 990, PART VI, SECTION C, LINE 19 WACIF'S GOVERNING DOCUMENTS, INCLUDING ITS ORGANIZATIONAL BYLAWS, AUDITED FINANCIAL STATEMENTS, FEDERAL FORM 990S, AND CONFLICT OF INTEREST POLICY, ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G ADVISORY SERVICES/TRAININGUNDERWRITTING/STAFFING/ CONSULTANT: PROGRAM SERVICE EXPENSES 602,422. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 602,422. FUNDRAISING/IT SERVICES/DATA/COMMUNICATION CONSULTANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 84,216. TOTAL EXPENSES 84,216. MGMT & GENERAL RECRUITING/TRAINING/STAFFING CONSULTANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 266,805. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 266,805. ANACOSTIA ENTREPRENEURSHIP CENTER INC 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 873827062 PROPERTY/PROGRAM MANAGER DC 501(C)(3) LINE 12A, I WASHINGTON AREA COMMUNITY INVESTMENT FUND INC 1 1231-1235 GOOD HOPE ROAD INC 2012 RHODE ISLAND AVENUE NE WASHINGTON DC 20018 873806971 REAL ESTATE HOLDING ENTITY DC 501(C)(3) LINE 12C, III-FI WASHINGTON AREA COMMUNITY INVESTMENT FUND INC 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 ANACOSTIA ENTREPRENEURSHIP CENTER INC B 404882 BOOK VALUE ANACOSTIA ENTREPRENEURSHIP CENTER INC O 403040 BOOK VALUE 1231-1235 GOOD HOPE ROAD INC B 275215 BOOK VALUE 1231-1235 GOOD HOPE ROAD INC O 71327 BOOK VALUE 1231-1235 GOOD HOPE ROAD INC D 3750000 BOOK VALUE