Civic Intelligence

Fsk Land Corporation

EIN 52-1346470 • 501(c)25 • Baltimore, MD

Profile

NONE

3910 Keswick Road N4327BBaltimore, MD 21211

n/A

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.46x

Higher debt load relative to assets than 73% of similar nonprofits.

$50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

1.91x

Higher debt load relative to revenue than 85% of similar nonprofits.

$50M-$100M nonprofits • Source year 2024

Net Margin

72nd percentile

21%

Higher net margin than 72% of similar nonprofits.

$50M-$100M nonprofits • Source year 2024

Top Officer Pay

20th percentile

$80,117

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

$50M-$100M nonprofits • Source year 2024

Asset Growth

44th percentile

3.9%

Faster asset growth than 44% of similar nonprofits.

$50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

31st percentile

1.7%

Faster revenue growth than 31% of similar nonprofits.

$50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$81,209,570

Up $3,061,855 (+3.9%) from 2023

Liabilities

Down

$37,006,283

Down $103,751 (-0.3%) from 2023

Net Assets

Up

$44,203,287

Up $3,165,606 (+7.7%) from 2023

Revenue

Up

$19,379,486

Up $319,514 (+1.7%) from 2023

Expenses

Down

$15,213,880

Down $697,028 (-4.4%) from 2023

Net Income

Up

$4,165,606

Up $1,016,542 (+32%) from 2023

Trend Graphs

Balance Sheet Trend

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

$100M$50M$0Assets 2021: $75,439,989Liabilities 2021: $39,792,283Net Assets 2021: $35,647,7062021Assets 2022: $75,537,606Liabilities 2022: $37,444,683Net Assets 2022: $38,092,9232022Assets 2023: $78,147,715Liabilities 2023: $37,110,034Net Assets 2023: $41,037,6812023Assets 2024: $81,209,570Liabilities 2024: $37,006,283Net Assets 2024: $44,203,2872024

Highlighted filing

2024

Assets$81,209,570
Liabilities$37,006,283
Net Assets$44,203,287

Operations Trend

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

$20M$15M$10M$5.0M$0Revenue 2021: $18,455,473Expenses 2021: $15,155,042Net Income 2021: $3,300,4312021Revenue 2022: $19,637,042Expenses 2022: $16,191,825Net Income 2022: $3,445,2172022Revenue 2023: $19,059,972Expenses 2023: $15,910,908Net Income 2023: $3,149,0642023Revenue 2024: $19,379,486Expenses 2024: $15,213,880Net Income 2024: $4,165,6062024

Highlighted filing

2024

Revenue$19,379,486
Expenses$15,213,880
Net Income$4,165,606

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$19,379,486
Mission and Program Overview

Mission

NONE

Organization holds title to property and remits net income to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$44,739,997$43,722,665▼ $1,017,332
Savings and Temporary Cash Investments-$32,586,712-
Cash and Non-Interest-Bearing Accounts$29,194,772--
Prepaid Expenses and Deferred Charges$3,202,691$3,217,018▲ $14,327
Other Notes and Loans Receivable, Net$471,022$429,396▼ $41,626
Accounts Receivable$96,237$112,756▲ $16,519
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$78,147,715$81,209,570▲ $3,061,855
Other Assets Total$442,996$1,141,023▲ $698,027
Liabilities
Other Liabilities$31,568,396$31,662,931▲ $94,535
Mortgage Notes Payable Secured by Investment Property$3,891,359$3,737,586▼ $153,773
Accounts Payable and Accrued Expenses$680,058$1,367,859▲ $687,801
Deferred Revenue$970,221$237,907▼ $732,314
Total Liabilities$37,110,034$37,006,283▼ $103,751
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$41,037,681$44,203,287▲ $3,165,606
Total Net Assets Fund Balance$41,037,681$44,203,287▲ $3,165,606
Total Liabilities and Net Assets / Fund Balance$78,147,715$81,209,570▲ $3,061,855

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$39,041,309$60,094,722$99,136,031
Land$3,183,100-$3,183,100
Other Land Buildings$1,335,855$292,974$1,628,829
Equipment$162,401$276,742$439,143
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Mitchell BonannoPresident$47,098$33,019$80,117

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Broadway Services INCSecurity, Janitorial, & Property Management Services3709 E MONUMENT ST, 500 A, Baltimore, MD 21218$5,912,366
Transwestern Commercial ServicesProperty Management And Related Services6700 ROCKLEDGE DRIVE, SUITE 300, Bethesda, MD 20817$973,099
Energy & Hvac ManagementEnergy Management30 W WATKINS MILL ROAD, Suite 101, Gaithersburg, MD 20878$880,159
Gmc Contractors INCCommercial Construction Services8213 Jumpers Hole Rd, Millersville, MD 21108$430,374
Constantine Commercial ConstructionGeneral Contractor And Construction Management9494 DEERECO ROAD, Timonium, MD 21093$383,144
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$19,097,038
Investment Income
$282,448
Other Revenue
$0
Change in Net Assets
$4,165,606
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,213,880
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$3,111,851
Depreciation Depletion---$2,588,656
Fees for Services Other---$2,547,530
Interest---$1,288,701
Other Expenses---$591,928
Fees for Services Management---$538,837
Fees for Services Accounting---$133,520
Office Expenses---$54,697
All Other Expenses---$51,606
Fees for Services Legal---$6,789
Total Functional Expenses$0$0$0$15,213,880
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable to Affiliates$23,211,628
Other Liabilities$7,648,430
Due to Affiliates$802,873
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A

The executive committee consists of at least four members, exclusive of the chairman of the board, the vice chairman of the board, and the president. The members of this committee are appointed annually by the board of trustees. Four members constitutes a quorum. The executive committee has and exercises, so far as may be permitted by law, all powers of the board of trustees during intervals between meetings thereof.

Form 990, Part VI, Line 12A LINES 12, 13, AND 14:

Fsk land corporation has no employees. Both of the corporation's members, the johns hopkins university and johns hopkins health system inc., irc section 501(c)(3) organizations, have written conflict of interest policies, written whistleblower policies, written retention and destruction policies.

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

LISA ISHII, SALLY MACCONNELL, JENNIFER NICKOLES, CHERYL SADRO, KEVIN SOWERS, AND MICHAEL LARSON - Business relationship, MITCHELL BONANNO, SCOTT JONAS, NICOLE SMITH, LAURENT HELLER. ROBERT MCLEAN, JOHNNIE WATSON, - Business relationship

Form 990, Part VI, Line 6 Classes of members or stockholders

Fsk land corporation is organized as a non-stock, not-for-profit organization under irc section 501(c)(25). As required by irc section 501(c)(25), the corporation is organized for the exclusive purpose of acquiring real property, holding title to and collecting income from such property, and remitting the entire amount of its net income from such real property (less expenses) to its two equal members, the johns hopkins university and johns hopkins health system, inc., both irc section 501(c)(3) organizations.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Fsk land corporation's two equal members have the power to appoint members of the board of directors and have the right to approve other corporation actions as described in fsk land corporation's articles of incorporation and by-laws.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

SEE LINE 7A ABOVE.

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

The corporation's board of directors has authorized no committees.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The corporation's form 990 was prepared and reviewed by the johns hopkins university general accounting office and the johns hopkins university tax office. Prior to filing, the form 990 was reviewed and signed by the corporation's president mitchell bonanno. All board members received a copy of the corporation's form 990 prior to filing.

Form 990, Part VI, Line 19 Required documents available to the public

The organization does not make its governing documents available to the public.

Filing and Contact Details

Filer

Filer Name
Fsk Land Corporation
EIN
52-1346470
Phone
4439973737
Address
3910 Keswick Road N4327B, Baltimore, MD 21211

Signing Officer

Name
Mitchell Bonanno
Title
President
Signed
2025-05-14

Organization Details

Formed
1984
Legal Domicile
Md
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
11
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

Other Fees - Total Expense: 2547530, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Members' distribution - -1000000;

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OTHER LIABILITIES
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MITCHELL BONANNO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0DURING FY24 MITCH BONNANO WAS THE PRESIDENT OF FSK LAND CORPORATION (FSK) AND THE CHIEF REAL ESTATE OFFICER OF THE JOHNS HOPKINS UNIVERSITY (JHU), WHICH IS AN UNRELATED, SEPARATELY GOVERNED ORGANIZATION. IN FY24, MR. BONANNO DEVOTED 10% OF HIS EFFORTS TO FSK AND THEREFORE FSK REIMBURSED JHU FOR 10% OF MR. BONANNO'S TIME. THE COMPENSATION AND HOURS REPORTED FOR MR. BONNANO IN PART VII AND ON SCHEDULE REPRESENT 10% OF TOTAL COMPENSATION AND BENEFITS PAID TO MR. BONANNO BY JHU FOR CALENDAR YEAR 2023.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1NAME - MITCHELL BONANNO, COMPENSATION FROM UNRELATED ORGANIZATION - 80117.000000, NAME OF UNRELATED ORGANIZATION - , TYPE OF COMPENSATION -
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE COMMITTEE CONSISTS OF AT LEAST FOUR MEMBERS, EXCLUSIVE OF THE CHAIRMAN OF THE BOARD, THE VICE CHAIRMAN OF THE BOARD, AND THE PRESIDENT. THE MEMBERS OF THIS COMMITTEE ARE APPOINTED ANNUALLY BY THE BOARD OF TRUSTEES. FOUR MEMBERS CONSTITUTES A QUORUM. THE EXECUTIVE COMMITTEE HAS AND EXERCISES, SO FAR AS MAY BE PERMITTED BY LAW, ALL POWERS OF THE BOARD OF TRUSTEES DURING INTERVALS BETWEEN MEETINGS THEREOF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FSK LAND CORPORATION HAS NO EMPLOYEES. BOTH OF THE CORPORATION'S MEMBERS, THE JOHNS HOPKINS UNIVERSITY AND JOHNS HOPKINS HEALTH SYSTEM INC., IRC SECTION 501(C)(3) ORGANIZATIONS, HAVE WRITTEN CONFLICT OF INTEREST POLICIES, WRITTEN WHISTLEBLOWER POLICIES, WRITTEN RETENTION AND DESTRUCTION POLICIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LISA ISHII, SALLY MACCONNELL, JENNIFER NICKOLES, CHERYL SADRO, KEVIN SOWERS, AND MICHAEL LARSON - Business relationship, MITCHELL BONANNO, SCOTT JONAS, NICOLE SMITH, LAURENT HELLER. ROBERT MCLEAN, JOHNNIE WATSON, - Business relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FSK LAND CORPORATION IS ORGANIZED AS A NON-STOCK, NOT-FOR-PROFIT ORGANIZATION UNDER IRC SECTION 501(C)(25). AS REQUIRED BY IRC SECTION 501(C)(25), THE CORPORATION IS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF ACQUIRING REAL PROPERTY, HOLDING TITLE TO AND COLLECTING INCOME FROM SUCH PROPERTY, AND REMITTING THE ENTIRE AMOUNT OF ITS NET INCOME FROM SUCH REAL PROPERTY (LESS EXPENSES) TO ITS TWO EQUAL MEMBERS, THE JOHNS HOPKINS UNIVERSITY AND JOHNS HOPKINS HEALTH SYSTEM, INC., BOTH IRC SECTION 501(C)(3) ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FSK LAND CORPORATION'S TWO EQUAL MEMBERS HAVE THE POWER TO APPOINT MEMBERS OF THE BOARD OF DIRECTORS AND HAVE THE RIGHT TO APPROVE OTHER CORPORATION ACTIONS AS DESCRIBED IN FSK LAND CORPORATION'S ARTICLES OF INCORPORATION AND BY-LAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SEE LINE 7A ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CORPORATION'S BOARD OF DIRECTORS HAS AUTHORIZED NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE CORPORATION'S FORM 990 WAS PREPARED AND REVIEWED BY THE JOHNS HOPKINS UNIVERSITY GENERAL ACCOUNTING OFFICE AND THE JOHNS HOPKINS UNIVERSITY TAX OFFICE. PRIOR TO FILING, THE FORM 990 WAS REVIEWED AND SIGNED BY THE CORPORATION'S PRESIDENT MITCHELL BONANNO. ALL BOARD MEMBERS RECEIVED A COPY OF THE CORPORATION'S FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Other Fees - Total Expense: 2547530, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10MEMBERS' DISTRIBUTION - -1000000;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 1a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12a LINES 12, 13, AND 14:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 2 Family/business relationships amongst interested persons
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 6 Classes of members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 11g Other Fees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part XI, Line 9 Other changes in net assets or fund balances
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