Civic Intelligence

Union Station Redevelopment Corporation

EIN 52-1318977 • 501(c)3 • Washington, DC

Profile

Usrc's oversight responsibilities for the entire station complex, as charged by its board of directors, consist of:managing the station development leasemanaging the garage leaseensuring proper maintenance of the unique historical features of union stationoverseeing and managing all capital improvements for the garageprotecting the federal government's interest in the property

750 First Street NE 1010Washington, DC 20002

www.usrcdc.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.13x

Higher debt load relative to assets than 33% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

1.37x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

32nd percentile

$339,373

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

16th percentile

-3.1%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

14th percentile

-12%

Faster revenue growth than 14% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$159,465,325

Down $5,140,325 (-3.1%) from 2023

Liabilities

Down

$20,547,964

Down $7,126,700 (-26%) from 2023

Net Assets

Up

$138,917,361

Up $1,986,375 (+1.5%) from 2023

Revenue

Down

$14,954,808

Down $2,119,578 (-12%) from 2023

Expenses

Down

$11,892,802

Down $342,907 (-2.8%) from 2023

Net Income

Down

$3,062,006

Down $1,776,671 (-37%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2011: $73,437,659Liabilities 2011: $38,157,548Net Assets 2011: $35,280,1112011Assets 2012: $78,938,227Liabilities 2012: $38,942,232Net Assets 2012: $39,995,9952012Assets 2013: $104,622,222Liabilities 2013: $34,225,345Net Assets 2013: $70,396,8772013Assets 2014: $111,807,164Liabilities 2014: $33,297,053Net Assets 2014: $78,510,1112014Assets 2015: $127,639,214Liabilities 2015: $35,733,227Net Assets 2015: $91,905,9872015Assets 2016: $132,303,972Liabilities 2016: $32,467,377Net Assets 2016: $99,836,5952016Assets 2017: $142,650,916Liabilities 2017: $31,480,562Net Assets 2017: $111,170,3542017Assets 2018: $147,839,396Liabilities 2018: $27,118,687Net Assets 2018: $120,720,7092018Assets 2019: $155,215,374Liabilities 2019: $27,813,258Net Assets 2019: $127,402,1162019Assets 2020: $153,286,634Liabilities 2020: $28,138,085Net Assets 2020: $125,148,5492020Assets 2021: $149,911,473Liabilities 2021: $25,306,221Net Assets 2021: $124,605,2522021Assets 2022: $154,907,795Liabilities 2022: $23,226,991Net Assets 2022: $131,680,8042022Assets 2023: $164,605,650Liabilities 2023: $27,674,664Net Assets 2023: $136,930,9862023Assets 2024: $159,465,325Liabilities 2024: $20,547,964Net Assets 2024: $138,917,3612024

Highlighted filing

2024

Assets$159,465,325
Liabilities$20,547,964
Net Assets$138,917,361

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MExpenses 2011: $7,159,4982011Revenue 2012: $12,158,231Expenses 2012: $6,489,772Net Income 2012: $5,668,4592012Expenses 2013: $6,877,6792013Revenue 2014: $16,659,748Expenses 2014: $8,718,386Net Income 2014: $7,941,3622014Revenue 2015: $16,600,740Expenses 2015: $7,671,426Net Income 2015: $8,929,3142015Revenue 2016: $17,151,069Expenses 2016: $9,262,317Net Income 2016: $7,888,7522016Revenue 2017: $19,970,731Expenses 2017: $10,784,239Net Income 2017: $9,186,4922017Revenue 2018: $17,453,889Expenses 2018: $8,895,508Net Income 2018: $8,558,3812018Revenue 2019: $16,700,803Expenses 2019: $9,575,521Net Income 2019: $7,125,2822019Revenue 2020: $12,484,376Expenses 2020: $12,320,255Net Income 2020: $164,1212020Revenue 2021: $10,837,768Expenses 2021: $12,166,032Net Income 2021: -$1,328,2642021Revenue 2022: $13,205,501Expenses 2022: $9,323,747Net Income 2022: $3,881,7542022Revenue 2023: $17,074,386Expenses 2023: $12,235,709Net Income 2023: $4,838,6772023Revenue 2024: $14,954,808Expenses 2024: $11,892,802Net Income 2024: $3,062,0062024

Highlighted filing

2024

Revenue$14,954,808
Expenses$11,892,802
Net Income$3,062,006

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$159$20.5$139$15.0$11.9$3.06
2023Detailed filing. Detailed filing data is available for this year.$165$27.7$137$17.1$12.2$4.84
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$155$23.2$132$13.2$9.32$3.88
2021Detailed filing. Detailed filing data is available for this year.$150$25.3$125$10.8$12.2$1.33
2020Detailed filing. Detailed filing data is available for this year.$153$28.1$125$12.5$12.3$0.16
2019Detailed filing. Detailed filing data is available for this year.$155$27.8$127$16.7$9.58$7.13
2018Detailed filing. Detailed filing data is available for this year.$148$27.1$121$17.5$8.90$8.56
2017Detailed filing. Detailed filing data is available for this year.$143$31.5$111$20.0$10.8$9.19
2016Detailed filing. Detailed filing data is available for this year.$132$32.5$99.8$17.2$9.26$7.89
2015Detailed filing. Detailed filing data is available for this year.$128$35.7$91.9$16.6$7.67$8.93
2014Detailed filing. Detailed filing data is available for this year.$112$33.3$78.5$16.7$8.72$7.94
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$34.2$70.4$6.88
2012Summary only. Only limited summary data is available for this year.$78.9$38.9$40.0$12.2$6.49$5.67
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.4$38.2$35.3$7.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 15, 2025
Return Version
2023v6.0
Gross Receipts
$15,633,015
Mission and Program Overview

Mission

Usrc's oversight responsibilities for the entire station complex, as charged by its board of directors, consist of:managing the station development leasemanaging the garage leaseensuring proper maintenance of the unique historical features of union stationoverseeing and managing all capital improvements for the garageprotecting the federal government's interest in the property

Management of the renovated and redeveloped facilities of washington, dc's union station through the federal railroad administration.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$74,639,082$73,133,094▼ $1,505,988
Savings and Temporary Cash Investments$4,329,220$23,973,893▲ $19,644,673
Investments in Publicly Traded Securities$18,539,923$0▼ $18,539,923
Cash and Non-Interest-Bearing Accounts$5,049,550$4,301,148▼ $748,402
Accounts Receivable$2,817,458$2,689,769▼ $127,689
Prepaid Expenses and Deferred Charges$572,894$414,100▼ $158,794
Total Assets$164,605,650$159,465,325▼ $5,140,325
Other Assets Total$58,657,523$54,953,321▼ $3,704,202
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,612,254$17,550,719▼ $1,061,535
Accounts Payable and Accrued Expenses$2,856,498$1,999,424▼ $857,074
Other Liabilities$6,122,579$997,821▼ $5,124,758
Deferred Revenue$83,333$0▼ $83,333
Total Liabilities$27,674,664$20,547,964▼ $7,126,700
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$136,930,986$138,591,744▲ $1,660,758
Net Assets With Donor Restrictions-$325,617-
Total Net Assets Fund Balance$136,930,986$138,917,361▲ $1,986,375
Total Liabilities and Net Assets / Fund Balance$164,605,650$159,465,325▼ $5,140,325

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$64,631,879$40,042,509$104,674,388
Equipment$4,975,473$729,593$5,705,066
Other Land Buildings$3,525,742-$3,525,742
Other Assets Org$38,874--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Douglas CarrPresident/CEOFT$318,942$32,246$351,188
Cody ZaccagninoProject ManagerFT$126,913$24,271$151,184
Sarah MayersohnArchive Manager (thru 3/15/24)FT$111,157$12,832$123,989

Board Members and Trustees

NameTitle
Polly TrottenbergChairman
Dennis NewmanVice Chairman
Maura BrophyDirector
Nina AlbertDirector
Rebecca Reyes - AliceaDirector
Marialuisa GallozziSecretary
Leandro ZucchiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Union Station Investco INCReal Estate ServicesPO BOX 67207, Newark, NJ 07101-4002$635,060
Covington & Burling LLPLegal Services850 TENTH STREET NW, Washington, DC 20001$604,248
Schindler Elevator CorporationStructural Repair Services6800 MUIRKIRK ROAD, Beltsville, MD 20705$393,590
Building IntelligenceConsulting Services14 EAST 47TH STREET 3RD FLOOR, New York, NY 10017$303,161
Structural Preservation Systems LLCStructural Repair Services6955 SAN TOMAS RD, Elkridge, MD 21075$228,967
Revenue and Support

Revenue Composition

Contributions and Grants
$147,892
Program Service Revenue
$14,211,419
Investment Income
$590,873
Other Revenue
$4,624
Change in Net Assets
$3,062,006

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,954,808
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-1,071,845
Total Revenue per Audited Statements
$13,882,963
Total Revenue per Form 990
$14,954,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,917,127
Salaries, Compensation, and Employee Benefits$1,975,675
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$3,302,282$23,484-$3,325,766
Fees for Services Other$100,484$1,256,016-$1,356,500
Other Salaries and Wages-$1,192,063-$1,192,063
Fees for Services Legal-$1,102,923-$1,102,923
Interest-$557,614-$557,614
Current Officers, Directors, Trustees, and Key Employees-$324,973-$324,973
Occupancy-$324,718-$324,718
Other Employee Benefits-$264,649-$264,649
Other Expenses$207,453$45,566-$253,019
Insurance$148,412$63,605-$212,017
Fees for Services Accounting-$207,959-$207,959
Payroll Taxes-$105,179-$105,179
Pension Plan Contributions-$88,811-$88,811
All Other Expenses-$43,341-$43,341
Total Functional Expenses$6,291,901$5,600,901$0$11,892,802

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,892,802
Total Expenses per Audited Statements$11,892,802
Total Expenses per Form 990$11,892,802
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$792,608
Funds Held for Capital Maintenance$205,213
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

There are no committees with the authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the president and ceo of usrc and any employee designated. It is also distributed to all usrc board of director designees for their review.

Form 990, Part VI, Section B, Line 12C

The ethics officer provides the ethics policy to all board members and has the representatives and their designees complete and return an annual conflict of interest statement. Also, each employee is provided the conflict of interest policy on their first day of employment and is required to sign and complete a conflict of interest statement. All employees are required to submit a conflict of interest statement on an annual basis. Board members and employees are required to submit a conflict of interest disclosure statement at any time a potential conflict arises. A potential conflict arises when a director or employee may receive a financial or other significant benefit as a result of the individual's position. In cases where a director or employee has an actual or apparent conflict of interest, the individual will recuse voluntarily. The ethics review committee holds the authority to order involuntary recusal if the director or employee fails to do so voluntarily.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
Union Station Redevelopment Corporation
EIN
52-1318977
Phone
2022220271
Address
750 FIRST STREET NE 1010, WASHINGTON, DC 20002

Signing Officer

Name
Leandro Zucchi
Title
Chief Operating Officer
Phone
2022220271
Signed
2025-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Carr
Formed
1983
Legal Domicile
Dc
Voting Board Members
5
Independent Board Members
5
Employees
9
Volunteers
5

Preparer

Firm
Rsm US Llp
Address
919 EAST MAIN STREET SUITE 1800, RICHMOND, VA 23219
Preparer
Meredith Bell
Phone
8042822121
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting: program service expenses 100,484. Management and general expenses 1,256,016. Fundraising expenses 0. Total expenses 1,356,500.

Financial Statement Notes

PART X, LINE 2:

Usrc has considered its income tax positions, including any positions that may be considered uncertain by the relevant tax authorities in the jurisdictions in which usrc operates. As of september 30, 2024 and 2023, usrc had not identified any uncertain tax positions or unrecognized tax exposures.

Raw XML AppendixShowing 400 of 567 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm2NINA ALBERT
IRS990/Form990PartVIISectionAGrp/PersonNm3MAURA BROPHY
IRS990/Form990PartVIISectionAGrp/PersonNm4REBECCA REYES - ALICEA
IRS990/Form990PartVIISectionAGrp/PersonNm5MARIALUISA GALLOZZI
IRS990/Form990PartVIISectionAGrp/PersonNm6LEANDRO ZUCCHI
IRS990/Form990PartVIISectionAGrp/PersonNm7DOUGLAS CARR
IRS990/Form990PartVIISectionAGrp/PersonNm8SARAH MAYERSOHN
IRS990/Form990PartVIISectionAGrp/PersonNm9CODY ZACCAGNINO
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8ARCHIVE MANAGER (THRU 3/15/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt9PROJECT MANAGER
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IRS990/MissionDesc0FOUNDED IN 1983, UNION STATION REDEVELOPMENT CORPORATION (USRC) IS A NONPROFIT ORGANIZATION CHARGED WITH THREE MAIN OBJECTIVES: TO PRESERVE AND RESTORE UNION STATION'S HISTORIC AND ARCHITECTURAL SIGNIFICANCE, MAINTAIN THE STATION'S LONG-TERM FUNCTION AS A MULTIMODAL TRANSPORTATION CENTER, AND ENHANCE THE RETAIL AND AMENITIES WITHIN THE STATION.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0USRC WAS FORMED PURSUANT TO THE UNION STATION REDEVELOPMENT ACT OF 1981 (PUB. L. 97-125, 95 STAT. 1667) TO ASSIST THE FEDERAL GOVERNMENT IN REHABILITATING AND REDEVELOPING THE UNION STATION COMPLEX IN WASHINGTON DC AND THE SURROUNDING AREA. IT IS A PARTY TO A COOPERATIVE AGREEMENT WITH THE FEDERAL RAILROAD ADMINISTRATION AND THE NATIONAL RAILROAD PASSENGER CORPORATION. IT SUBMITS BUDGETS AND FINANCIAL REPORTS TO THOSE ORGANIZATIONS ANNUALLY, AND BOTH HAVE RIGHTS TO REVIEW AUDIT ITS OPERATIONAL COSTS. THE U.S. SECRETARY OF TRANSPORTATION, THE PRESIDENT OF THE NATIONAL RAILROAD PASSENGER CORPORATION AND THE FEDERAL RAILROAD ADMINISTRATOR COMPRISE A MAJORITY OF USRC'S BOARD OF DIRECTORS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 1C:
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