Civic Intelligence

Aequo Foundation Inc.

990 • Fiscal year 2023 • EIN 85-3667734

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileWWW.AEQUOFOUNDATION.ORG

Refreshing map…

1707 North Charles StreetBaltimore, MD 21201

(410) 962-5460

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.98x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

37.87x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

86th percentile

38%

Higher net margin than 86% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

100th percentile

1450%

Faster asset growth than 100% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

92nd percentile

96%

Faster revenue growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$15,605,845

Up $14,599,158 (+1450%) from 2022

Net Assets

Up

$357,196

Up $153,852 (+76%) from 2022

Liabilities

Up

$15,248,649

Up $14,445,306 (+1798%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin86th percentile

Revenue

Up

$402,664

Up $197,347 (+96%) from 2022

Expenses

Up

$248,812

Up $223,582 (+886%) from 2022

Net Income

Down

$153,852

Down $26,235 (-15%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2022: $1,006,687Liabilities 2022: $803,343Net Assets 2022: $203,3442022Assets 2023: $15,605,845Liabilities 2023: $15,248,649Net Assets 2023: $357,1962023Assets 2024: $16,623,328Liabilities 2024: $17,353,607Net Assets 2024: -$730,2792024

Highlighted filing

2023

Assets$15,605,845
Liabilities$15,248,649
Net Assets$357,196
Open 2023 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.0M$500K$0-$500K-$1.0M-$1.5MRevenue 2022: $205,317Expenses 2022: $25,230Net Income 2022: $180,0872022Revenue 2023: $402,664Expenses 2023: $248,812Net Income 2023: $153,8522023Revenue 2024: -$542,812Expenses 2024: $568,107Net Income 2024: -$1,110,9192024

Highlighted filing

2023

Revenue$402,664
Expenses$248,812
Net Income$153,852
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$1,919,044
Mission and Program Overview

Mission

To support emerging real-estate developers of non-traditional backgrounds (such as minorities, women and immigrants) who seek to advance in the real estate field

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$190,000$10,638,871▲ $10,448,871
Investments in Publicly Traded Securities-$2,038,435-
Other Notes and Loans Receivable, Net-$1,120,347-
Savings and Temporary Cash Investments-$996,543-
Accounts Receivable$13,506$333,127▲ $319,621
Cash and Non-Interest-Bearing Accounts$803,181$295,416▼ $507,765
Investments Program Related-$149,139-
Prepaid Expenses and Deferred Charges-$33,967-
Total Assets$1,006,687$15,605,845▲ $14,599,158
Liabilities
Mortgage Notes Payable Secured by Investment Property-$14,023,347-
Other Liabilities$778,343$824,824▲ $46,481
Accounts Payable and Accrued Expenses$25,000$400,478▲ $375,478
Total Liabilities$803,343$15,248,649▲ $14,445,306
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$203,344$357,196▲ $153,852
Total Net Assets Fund Balance$203,344$357,196▲ $153,852
Total Liabilities and Net Assets / Fund Balance$1,006,687$15,605,845▲ $14,599,158

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,448,871$120,600$10,569,471
Land$190,000-$190,000
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Ernst ValeryPresident
Aleksandr SuurnaDirector
Anne NelsonDirector
Dana ValeryDirector
David AlexanderDirector
Jalal GreenDirector
Robert PipikDirector
Trevor ParhamDirector
Jill DunSecretary
Caren LichterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$972,583
Program Service Revenue
$194,057
Investment Income
$80,019
Other Revenue
$-843,995
All Other Contributions
$10,000
Change in Net Assets
$153,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$248,812
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
Other Expenses$168,399--$168,399
Interest$32,830--$32,830
Fees for Services Legal$24,000--$24,000
Fees for Services Accounting-$10,725-$10,725
Office Expenses-$8,079-$8,079
Fees for Service Investment Mgmnt Fees-$4,779-$4,779
Total Functional Expenses$225,229$23,583$0$248,812
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Ownership Interest of an OfficerCash Flow SupportNo$121,801
-Ownership Interest of an OfficerAccounting ServicesNo$10,725
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances$594,104
Payable to Related Entity$121,801
Accrued Interest$92,696
Security Deposits$16,223
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Dana and ernst valery are spouses. David alexander and ernst valery have a business relationship.”

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

“The foundation does not have established committees and the board of directors handles all governance of the foundation.”

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

“A copy of the 990 is provided to the board of directors for review prior to filing.”

Form 990, Part VI, Section C, Line 19

“The organization's governing docuemnts, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Aequo Foundation Inc
EIN
85-3667734
Phone
4109625460
Address
1707 NORTH CHARLES STREET, BALTIMORE, MD 21201

Signing Officer

Name
Ernst Valery
Title
President
Phone
4109625460
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ernst Valery
Formed
2020
Legal Domicile
Md
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Lumsden & Mccormick Llp
Address
369 FRANKLIN STREET, BUFFALO, NY 14202
Preparer
Seth D Hennard
Phone
7168563300
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 3B

“Net unrelated business income is negative ($843,995) resulting in no ubti. Additionally, the unrelated business income generating asset is a temporary holding that is expected to be sold in 2024.”

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt192696
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt216223
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3121801
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYABLE TO RELATED ENTITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010638871
IRS990ScheduleD/TotalLiabilityAmt0824824
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0STUART ALEXANDER AND ASSOCIATES INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1LICHTER GROUP
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNERSHIP INTEREST OF AN OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OWNERSHIP INTEREST OF AN OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0121801
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt110725
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CASH FLOW SUPPORT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1ACCOUNTING SERVICES
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NET UNRELATED BUSINESS INCOME IS NEGATIVE ($843,995) RESULTING IN NO UBTI. ADDITIONALLY, THE UNRELATED BUSINESS INCOME GENERATING ASSET IS A TEMPORARY HOLDING THAT IS EXPECTED TO BE SOLD IN 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DANA AND ERNST VALERY ARE SPOUSES. DAVID ALEXANDER AND ERNST VALERY HAVE A BUSINESS RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION DOES NOT HAVE ESTABLISHED COMMITTEES AND THE BOARD OF DIRECTORS HANDLES ALL GOVERNANCE OF THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUEMNTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0AEQUO FOUNDATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1AEQUO FOUNDATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0LAKESIDE PHASED LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1AEQUO PITTSBURGH LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0922974860
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1922861547
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt012118056
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt11574975
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1PA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0RENTAL HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1HOUSING DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0672385
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt1993190
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt01707 N CHARLES ST SUITE 200
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt11707 N CHARLES ST SUITE 200
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BALTIMORE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1BALTIMORE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd021201
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd121201
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0AEQUO FUND MANAGEMENT LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0853594000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0INVESTING IN REAL ESTATE DEVELOPED BY MINORITIES, WOMEN, AND IMMIGRANTS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0AEQUO FUND
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01707 N CHARLES STREET SUITE 200A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BALTIMORE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd021201
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0METROPOLITAN INVESTMENT TRUST AEQUO BALTIMORE LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0820758917
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0HOUSING DEVELOPMENT ACTIVITIES
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0MOUNT STREET PROPERTIES LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt01707 N CHARLES STREET SUITE 200A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0BALTIMORE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd021201
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0157764
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1962583
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0AEQUO FUND
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MOUNT STREET PROPERTIES LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1D
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01006687
IRS990/TotalAssetsEOYAmt015605845
IRS990/TotalAssetsGrp/BOYAmt01006687

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$15,605,845
Liabilities
$15,248,649
Net assets
$357,196
Revenue
$402,664
Expenses
$248,812
Net income
$153,852
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$17.4$0.73$0.54$0.57$1.11
2023Detailed filing. Detailed filing data is available for this year.$15.6$15.2$0.36$0.40$0.25$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.80$0.20$0.21$0.03$0.18