Civic Intelligence

Arc Properties Inc

990 • Fiscal year 2023 • EIN 52-1509032

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 15, 2024

Organization ProfileN/A
620-a Research CourtFrederick, MD 21703

(301) 663-0909

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.61x

Higher debt load relative to assets than 87% of similar nonprofits.

2023 filings • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

9.31x

Higher debt load relative to revenue than 97% of similar nonprofits.

2023 filings • $5M-$10M nonprofits • Source year 2023

Net Margin

89th percentile

52%

Higher net margin than 89% of similar nonprofits.

2023 filings • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

66th percentile

$146,762

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 37.4% of source-year revenue.

2023 filings • $5M-$10M nonprofits • Source year 2023

Asset Growth

50th percentile

3.5%

Faster asset growth than 50% of similar nonprofits.

2023 filings • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

38th percentile

-0.4%

Faster revenue growth than 38% of similar nonprofits.

2023 filings • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$5,975,896

Up $202,883 (+3.5%) from 2022

Net Assets

Up

$2,321,371

Up $202,883 (+9.6%) from 2022

Liabilities

Flat

$3,654,525

Flat from 2022

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin89th percentile

Revenue

Down

$392,553

Down $1,546 (-0.4%) from 2022

Expenses

Down

$189,670

Down $323 (-0.2%) from 2022

Net Income

Down

$202,883

Down $1,223 (-0.6%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $3,169,272Liabilities 2014: $2,690,652Net Assets 2014: $478,6202014Assets 2015: $3,021,490Liabilities 2015: $2,481,344Net Assets 2015: $540,1462015Assets 2016: $2,847,907Liabilities 2016: $2,093,560Net Assets 2016: $754,3472016Assets 2017: $4,753,162Liabilities 2017: $3,813,942Net Assets 2017: $939,2202017Assets 2018: $4,913,031Liabilities 2018: $3,731,711Net Assets 2018: $1,181,3202018Assets 2019: $5,099,467Liabilities 2019: $3,654,525Net Assets 2019: $1,444,9422019Assets 2020: $5,339,731Liabilities 2020: $3,654,525Net Assets 2020: $1,685,2062020Assets 2021: $5,568,907Liabilities 2021: $3,654,525Net Assets 2021: $1,914,3822021Assets 2022: $5,773,013Liabilities 2022: $3,654,525Net Assets 2022: $2,118,4882022Assets 2023: $5,975,896Liabilities 2023: $3,654,525Net Assets 2023: $2,321,3712023Assets 2024: $6,168,391Liabilities 2024: $3,654,525Net Assets 2024: $2,513,8662024Assets 2025: $6,350,197Liabilities 2025: $3,664,250Net Assets 2025: $2,685,9472025

Highlighted filing

2023

Assets$5,975,896
Liabilities$3,654,525
Net Assets$2,321,371
Open 2023 Filing

Operations Trend

Revenue Growth38th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0Revenue 2014: $126,651Expenses 2014: $94,711Net Income 2014: $31,9402014Revenue 2015: $141,457Expenses 2015: $79,931Net Income 2015: $61,5262015Revenue 2016: $357,294Expenses 2016: $143,093Net Income 2016: $214,2012016Revenue 2017: $356,655Expenses 2017: $171,782Net Income 2017: $184,8732017Revenue 2018: $389,047Expenses 2018: $146,947Net Income 2018: $242,1002018Revenue 2019: $394,708Expenses 2019: $131,086Net Income 2019: $263,6222019Revenue 2020: $400,051Expenses 2020: $159,787Net Income 2020: $240,2642020Revenue 2021: $396,474Expenses 2021: $167,298Net Income 2021: $229,1762021Revenue 2022: $394,099Expenses 2022: $189,993Net Income 2022: $204,1062022Revenue 2023: $392,553Expenses 2023: $189,670Net Income 2023: $202,8832023Revenue 2024: $387,729Expenses 2024: $195,234Net Income 2024: $192,4952024Revenue 2025: $398,774Expenses 2025: $226,693Net Income 2025: $172,0812025

Highlighted filing

2023

Revenue$392,553
Expenses$189,670
Net Income$202,883
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 15, 2024
Return Version
2022v5.0
Gross Receipts
$392,553
Mission and Program Overview

Mission

Arc properties holds title to and leases real property to its parent organization, the arc of frederick county, inc., a 501(c)(3) non-profit organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,217,502$4,223,736▲ $6,234
Cash and Non-Interest-Bearing Accounts$1,555,511$1,752,160▲ $196,649
Total Assets$5,773,013$5,975,896▲ $202,883
Liabilities
Other Liabilities$3,654,525$3,654,525→ $0
Total Liabilities$3,654,525$3,654,525→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,118,488$2,321,371▲ $202,883
Total Net Assets Fund Balance$2,118,488$2,321,371▲ $202,883
Total Liabilities and Net Assets / Fund Balance$5,773,013$5,975,896▲ $202,883

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,876,331$743,569$3,619,900
Land$1,347,405-$1,347,405
Equipment$0$5,669$5,669
Compensation and Service Providers
Top Officer Pay66th percentile

Board Members and Trustees

NameTitle
Kathy LakyPresident
Wendy AndrewsVice President
Shauna MulcahyMember at Large
Cindy KopciakSecretary
Duncan BarksTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$3,265
Other Revenue
$389,288
Change in Net Assets
$202,883

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,553
Revenue Not Reported on Financial Statements
$384,000
Revenue Not Reported on Form 990
$12,880,394
Other Revenue Adjustments
$384,000
Total Revenue per Audited Statements
$12,888,947
Total Revenue per Form 990
$392,553
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$189,670
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
Depreciation Depletion---$99,863
Occupancy---$89,807
Total Functional Expenses$0$0$0$189,670

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Form 990$9,972,651
Total Expenses per Audited Statements$9,778,321
Expenses Not Reported on Financial Statements$384,000
Other Expense Adjustments$384,000
Total Expenses per Form 990$189,670
Expenses per Audited Statements$-194,330
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Arc of Frederick County, Inc$3,615,525
Security Deposits$39,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“A copy of the form 990 is reviewed by the 990 form review committee and is then distributed to the board of directors for review with any significant items of note being communicated.”

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

“The organization requires board members to sign conflict of interest disclosures annually and any potential conflicts are discussed and resolved at board meetings as they arise.”

Form 990, Part VI, Section B, Line 15A

“An annual evaluation is conducted by the board including a comparison to national and local compensation averages and 990 forms for similar organizations based on years of experience. The board of directors is asked their input into the evaluation.”

Form 990, Part VI, Section C, Line 18

“The organization makes its form 990 available to the public upon request.”

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.”

Filing and Contact Details

Filer

Filer Name
Arc Properties Inc
EIN
52-1509032
Phone
3016630909
Address
620-A RESEARCH COURT, FREDERICK, MD 21703

Signing Officer

Name
Kathy Laky
Title
President
Phone
3016630909
Signed
2024-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Laky
Formed
1986
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Mullen Sondberg Wimbish & Stone Pa
Address
888 BESTGATE ROAD SUITE 310, ANNAPOLIS, MD 21401
Preparer
John G Wiland CPA
Phone
4102244920
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C;

“The organization's financial statements are audited each year by an independent public accountant under the direction of the board of directors.”

Financial Statement Notes

PART X, LINE 2:

“The organization follows the guidance of asc 740-10, "accounting for uncertainty in income taxes" which clarifies the accounting for the recognition and measurement of the benefits of individual tax positions in the financial statement, including those of non-profit organizations. Tax positions must meet a recognition threshold of more-likely-than-not in order for the benefit of those tax positions to be recognized in the organization's financial statements. The organization analyzes tax positions taken, including those related to the requirements set forth in irc sec. 501(c) to qualify as a tax exempt organization, activities performed by volunteers and board members, the reporting of unrelated business income, and its status as a tax-exempt organization under maryland state statute. The orgnaization does not know of any tax benefits arising from uncertain tax positions and there was no effect on the organization's financial position or changes in net assets as a result of analyzing its tax positions.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Revenue of consolidated entity”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Rental revenue eliminated on consolidated audited financial statements”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Expenses of consolidated entity”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Rental expense eliminated on consolidated audited financial statements”

Page IV Line 11E Explanation

“Other liabilities consist of amounts due to the organizations parent organization, the arc of frederick county, inc.”

Raw XML Appendix379 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.

Path#Value
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE GUIDANCE OF ASC 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" WHICH CLARIFIES THE ACCOUNTING FOR THE RECOGNITION AND MEASUREMENT OF THE BENEFITS OF INDIVIDUAL TAX POSITIONS IN THE FINANCIAL STATEMENT, INCLUDING THOSE OF NON-PROFIT ORGANIZATIONS. TAX POSITIONS MUST MEET A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT IN ORDER FOR THE BENEFIT OF THOSE TAX POSITIONS TO BE RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION ANALYZES TAX POSITIONS TAKEN, INCLUDING THOSE RELATED TO THE REQUIREMENTS SET FORTH IN IRC SEC. 501(C) TO QUALIFY AS A TAX EXEMPT ORGANIZATION, ACTIVITIES PERFORMED BY VOLUNTEERS AND BOARD MEMBERS, THE REPORTING OF UNRELATED BUSINESS INCOME, AND ITS STATUS AS A TAX-EXEMPT ORGANIZATION UNDER MARYLAND STATE STATUTE. THE ORGNAIZATION DOES NOT KNOW OF ANY TAX BENEFITS ARISING FROM UNCERTAIN TAX POSITIONS AND THERE WAS NO EFFECT ON THE ORGANIZATION'S FINANCIAL POSITION OR CHANGES IN NET ASSETS AS A RESULT OF ANALYZING ITS TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REVENUE OF CONSOLIDATED ENTITY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL REVENUE ELIMINATED ON CONSOLIDATED AUDITED FINANCIAL STATEMENTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3EXPENSES OF CONSOLIDATED ENTITY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4RENTAL EXPENSE ELIMINATED ON CONSOLIDATED AUDITED FINANCIAL STATEMENTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt5OTHER LIABILITIES CONSIST OF AMOUNTS DUE TO THE ORGANIZATIONS PARENT ORGANIZATION, THE ARC OF FREDERICK COUNTY, INC.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc5PAGE IV LINE 11E EXPLANATION
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0MEMBER AT LARGE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS REVIEWED BY THE 990 FORM REVIEW COMMITTEE AND IS THEN DISTRIBUTED TO THE BOARD OF DIRECTORS FOR REVIEW WITH ANY SIGNIFICANT ITEMS OF NOTE BEING COMMUNICATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRES BOARD MEMBERS TO SIGN CONFLICT OF INTEREST DISCLOSURES ANNUALLY AND ANY POTENTIAL CONFLICTS ARE DISCUSSED AND RESOLVED AT BOARD MEETINGS AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN ANNUAL EVALUATION IS CONDUCTED BY THE BOARD INCLUDING A COMPARISON TO NATIONAL AND LOCAL COMPENSATION AVERAGES AND 990 FORMS FOR SIMILAR ORGANIZATIONS BASED ON YEARS OF EXPERIENCE. THE BOARD OF DIRECTORS IS ASKED THEIR INPUT INTO THE EVALUATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED EACH YEAR BY AN INDEPENDENT PUBLIC ACCOUNTANT UNDER THE DIRECTION OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C;
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0THE ARC OF FREDERICK COUNTY INC
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IRS990/SignificantChangeInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt05975896
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-01-15
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ReturnHeader/ReturnTs02024-01-15T09:30:57-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KATHY
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ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,975,896
Liabilities
$3,654,525
Net assets
$2,321,371
Revenue
$392,553
Expenses
$189,670
Net income
$202,883
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.35$3.66$2.69$0.40$0.23$0.17
2024Detailed filing. Detailed filing data is available for this year.$6.17$3.65$2.51$0.39$0.20$0.19
2023Detailed filing. Detailed filing data is available for this year.$5.98$3.65$2.32$0.39$0.19$0.20
2022Detailed filing. Detailed filing data is available for this year.$5.77$3.65$2.12$0.39$0.19$0.20
2021Detailed filing. Detailed filing data is available for this year.$5.57$3.65$1.91$0.40$0.17$0.23
2020Detailed filing. Detailed filing data is available for this year.$5.34$3.65$1.69$0.40$0.16$0.24
2019Detailed filing. Detailed filing data is available for this year.$5.10$3.65$1.44$0.39$0.13$0.26
2018Detailed filing. Detailed filing data is available for this year.$4.91$3.73$1.18$0.39$0.15$0.24
2017Detailed filing. Detailed filing data is available for this year.$4.75$3.81$0.94$0.36$0.17$0.18
2016Detailed filing. Detailed filing data is available for this year.$2.85$2.09$0.75$0.36$0.14$0.21
2015Detailed filing. Detailed filing data is available for this year.$3.02$2.48$0.54$0.14$0.08$0.06
2014Detailed filing. Detailed filing data is available for this year.$3.17$2.69$0.48$0.13$0.09$0.03