Civic Intelligence

Aequo Foundation Inc.

990 • Fiscal year 2024 • EIN 85-3667734

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 17, 2025

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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

95th percentile

1.04x

Higher debt load relative to assets than 95% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2024

Net Margin

100th percentile

205%

Higher net margin than 100% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

55th percentile

6.5%

Faster asset growth than 55% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Assets

Up

$16,623,328

Up $1,017,483 (+6.5%) from 2023

Net Assets

Down

-$730,279

Down $1,087,475 (-304%) from 2023

Liabilities

Up

$17,353,607

Up $2,104,958 (+14%) from 2023

Revenue

Down

-$542,812

Down $945,476 (-235%) from 2023

Expenses

Up

$568,107

Up $319,295 (+128%) from 2023

Net Income

Down

-$1,110,919

Down $1,264,771 (-822%) from 2023

Historical Trend

Balance Sheet Trend

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

2024

Assets$16,623,328
Liabilities$17,353,607
Net Assets-$730,279

Operations Trend

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

2024

Revenue-$542,812
Expenses$568,107
Net Income-$1,110,919
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$4,710,684
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$10,638,871$11,396,450▲ $757,579
Investments in Publicly Traded Securities$2,038,435$2,093,605▲ $55,170
Other Notes and Loans Receivable, Net$1,120,347$1,754,306▲ $633,959
Cash and Non-Interest-Bearing Accounts$295,416$611,023▲ $315,607
Accounts Receivable$333,127$364,905▲ $31,778
Savings and Temporary Cash Investments$996,543$231,447▼ $765,096
Investments Program Related$149,139$133,137▼ $16,002
Loans From Officers Directors$121,801$120,520▼ $1,281
Prepaid Expenses and Deferred Charges$33,967$38,455▲ $4,488
Total Assets$15,605,845$16,623,328▲ $1,017,483
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,023,347$16,208,024▲ $2,184,677
Accounts Payable and Accrued Expenses$400,478$701,762▲ $301,284
Other Liabilities$703,023$323,301▼ $379,722
Total Liabilities$15,248,649$17,353,607▲ $2,104,958
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$357,196$-730,279▼ $1,087,475
Total Net Assets Fund Balance$357,196$-730,279▼ $1,087,475
Total Liabilities and Net Assets / Fund Balance$15,605,845$16,623,328▲ $1,017,483

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,206,450$415,900$11,622,350
Land$190,000-$190,000
Compensation and Service Providers

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
$944,658
Program Service Revenue
$0
Investment Income
$169,234
Other Revenue
$-1,656,704
All Other Contributions
$5,000
Change in Net Assets
$-1,110,919
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$568,107
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
Interest$107,255--$107,255
Other Expenses$18,116--$18,116
Fees for Services Other$7,687$7,688-$15,375
Fees for Services Accounting-$15,170-$15,170
Fees for Services Legal$5,882$5,881-$11,763
Fees for Service Investment Mgmnt Fees-$8,698-$8,698
Office Expenses-$3,151-$3,151
All Other Expenses-$2,168-$2,168
Occupancy$570$570-$1,140
Total Functional Expenses$524,781$43,326$0$568,107
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 OfficerAccounting ServicesNo$6,162

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$121,801$120,520▼ $1,281
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances$201,982
Accrued Interest$96,164
Security Deposits$25,155
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
2025-11-17
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 ($1,675,109) resulting in no ubti. Additionally, the unrelated business income generating asset is a temporary holding that was sold in 2024.

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0103228
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt067
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0103295
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0194057
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01932491
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0944658
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0972583
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt015250
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01932491
IRS990ScheduleA/TotalSupportAmt02035786
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt011206450
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0415900
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt011622350
IRS990ScheduleD/LandGrp/BookValueAmt0190000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0190000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0201982
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt196164
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt225155
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011396450
IRS990ScheduleD/TotalLiabilityAmt0323301
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0LICHTER GROUP
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNERSHIP INTEREST OF AN OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt06162
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ACCOUNTING SERVICES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0120520
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0STUART ALEXANDER & ASSOCIATES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CASH FLOW SUPPORT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0121801
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0BOARD MEMBERS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/TotalBalanceDueAmt0120520
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NET UNRELATED BUSINESS INCOME IS NEGATIVE ($1,675,109) RESULTING IN NO UBTI. ADDITIONALLY, THE UNRELATED BUSINESS INCOME GENERATING ASSET IS A TEMPORARY HOLDING THAT WAS 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/GiftGrntCapContriFromOthOrgInd01
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/EndOfYearAssetsAmt012358739
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt11765543
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1PA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0RENTAL HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1HOUSING DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt01985204
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt1146485
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/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0AEQUO FUND MANAGEMENT LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1S
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0INVESTING IN REAL ESTATE DEVELOPED BY MINORITIES, WOMEN, AND IMMIGRANTS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1REAL ESTATE INVESTMENT FIRM
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0AEQUO FUND
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1ERNST VALERY INVESTMENT CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01707 N CHARLES STREET SUITE 200A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt11707 N CHARLES STREET SUITE 200A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0BALTIMORE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1BALTIMORE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd1MD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd021201
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd121201
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0METROPOLITAN INVESTMENT TRUST AEQUO BALTIMORE LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
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

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