Civic Intelligence

1231-1235 Good Hope Road Inc

EIN 87-3806971 • 501(c)3 • Washington, DC

Profile

To integrally support the functions of, and carry out the purposes of, the washington area community investment fund, inc (wacif).

2012 Rhode Island Avenue NEWashington, DC 20018

n/A

Siviq Scores

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

Liabilities / Assets

81st percentile

0.54x

Higher debt load relative to assets than 81% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

31.46x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

1st percentile

-874%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

80th percentile

$233,491

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 173.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

5th percentile

-29%

Faster asset growth than 5% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$7,804,212

Down $3,127,430 (-29%) from 2023

Liabilities

Down

$4,247,177

Down $1,977,729 (-32%) from 2023

Net Assets

Down

$3,557,035

Down $1,149,701 (-24%) from 2023

Revenue

Down

$135,004

Down $3,623,180 (-96%) from 2023

Expenses

Up

$1,315,288

Up $1,178,682 (+863%) from 2023

Net Income

Down

-$1,180,284

Down $4,801,862 (-133%) from 2023

Trend Graphs

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2021: $6,316,833Liabilities 2021: $5,258,604Net Assets 2021: $1,058,2292021Assets 2022: $6,483,142Liabilities 2022: $5,397,984Net Assets 2022: $1,085,1582022Assets 2023: $10,931,642Liabilities 2023: $6,224,906Net Assets 2023: $4,706,7362023Assets 2024: $7,804,212Liabilities 2024: $4,247,177Net Assets 2024: $3,557,0352024

Highlighted filing

2024

Assets$7,804,212
Liabilities$4,247,177
Net Assets$3,557,035

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2021: $1,002,229Expenses 2021: $0Net Income 2021: $1,002,2292021Revenue 2022: $188,200Expenses 2022: $209,071Net Income 2022: -$20,8712022Revenue 2023: $3,758,184Expenses 2023: $136,606Net Income 2023: $3,621,5782023Revenue 2024: $135,004Expenses 2024: $1,315,288Net Income 2024: -$1,180,2842024

Highlighted filing

2024

Revenue$135,004
Expenses$1,315,288
Net Income-$1,180,284

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 18, 2025
Return Version
2024v5.2
Gross Receipts
$135,004
Mission and Program Overview

Mission

To integrally support the functions of, and carry out the purposes of, the washington area community investment fund, inc (wacif).

To integrally support the functions of, and carry out the purposes of, wacif.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,535,035$5,567,677▼ $967,358
Savings and Temporary Cash Investments$3,002,194$2,109,482▼ $892,712
Pledges and Grants Receivable$760,046$0▼ $760,046
Cash and Non-Interest-Bearing Accounts$632,367$103,757▼ $528,610
Prepaid Expenses and Deferred Charges$2,000$23,296▲ $21,296
Total Assets$10,931,642$7,804,212▼ $3,127,430
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,250,000$3,750,000▼ $1,500,000
Other Liabilities$878,065$495,682▼ $382,383
Accounts Payable and Accrued Expenses$96,841$1,495▼ $95,346
Total Liabilities$6,224,906$4,247,177▼ $1,977,729
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,000,000$2,000,000▼ $1,000,000
Net Assets Without Donor Restrictions$1,706,736$1,557,035▼ $149,701
Total Net Assets Fund Balance$4,706,736$3,557,035▼ $1,149,701
Total Liabilities and Net Assets / Fund Balance$10,931,642$7,804,212▼ $3,127,430

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,456,079$284,880$5,740,959
Equipment$111,598$33,740$145,338
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kevin FryattCfoo & Co-interim CEO Until 5/3/24$94,825$94,825

Board Members and Trustees

NameTitle
Anne MorrisonDirector
Dawnn LearyDirector
Shannan HerbertChief Executive Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,650
Program Service Revenue
$0
Investment Income
$130,354
Other Revenue
$0
Change in Net Assets
$-1,180,284
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,310,640
Salaries, Compensation, and Employee Benefits$4,648
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,283,214--$1,283,214
Interest$23,810--$23,810
Other Salaries and Wages$3,843--$3,843
Fees for Services Accounting$3,025--$3,025
Office Expenses$591--$591
Other Employee Benefits$319--$319
Payroll Taxes$294--$294
Pension Plan Contributions$192--$192
Total Functional Expenses$1,315,288$0$0$1,315,288
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
Due to Related Entities$495,682
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
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 8B

The corporation does not have committees with authority to act on behalf of the governing body.

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

The corporation reviews the draft federal form 990 at the management level. Once reviewed and deemed ready for approval, it is provided to the board of directors for review and approval. Upon board of directors approval, the federal form 990 is ready for filing with the internal revenue service.

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

The corporation's conflict of interest policy is signed by all staff and board members upon commencing their professional relationship to the corporation. On an annual basis, all staff and board members re-sign the corporation's conflict of interest policy, disclosing any potential conflicts of interest. Any conflicts of interest that exist are discussed among the board of directors.

Form 990, Part VI, Section C, Line 19

The corporation's governing documents, including its organizational bylaws, audited financial statements, federal form 990, and conflict of interest policy, are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
1231-1235 Good Hope Road Inc
EIN
87-3806971
Phone
2025295505
Address
2012 RHODE ISLAND AVENUE NE, WASHINGTON, DC 20018

Signing Officer

Name
Shannan Hebert
Title
Chief Executive Officer
Phone
2025295505
Signed
2025-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannan Hebert
Formed
2021
Legal Domicile
Dc
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Mitchell & Titus Llp
Address
80 PINE STREET 32ND FL, NEW YORK, NY 10005
Preparer
Qian Zhang
Phone
2127094500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

As part of a consolidate group, the finance & audit committee of wacif assumes responsibility for oversight of the audit, review, and compilation of the financial statements. At its current stage of development, the corporation's board liaises with wacif's finance & audit committee on technical review, recommendation, and oversight.

Financial Statement Notes

PART X, LINE 2:

1231-1235 good hope road, inc. (ghr) follows the authoritative guidance relating to accounting for uncertainty in income taxes included in fasb asc topic 740, income taxes. Ghr performed an evaluation of uncertainty in income taxes for the year ended december 31, 2024, and determined that there were no matters that would require recognition in the consolidated financial statements or that may have any effect on its tax-exempt status. As of december 31, 2024, the statute of limitations for tax years ended december 31, 2021 through december 31, 2022, remained open with the u.s. Federal jurisdiction or various states and local jurisdictions in which ghr files tax returns; however, there are currently no examinations in progress. It is ghr's policy to recognize interest and/or penalties related to uncertainty in income taxes, if any, in income tax or interest expense.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE WASHINGTON AREA COMMUNITY INVESTMENT FUND, INC. (WACIF) RETAINS A SIGNIFICANT AND CONTROLLING VOICE IN THE STRATEGIC AND INVESTMENT POLICIES OF THE CORPORATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1IN CONNECTION WITH ITS STATUS AS A TYPE III SUPPORTING ORGANIZATION THAT IS FUNCTIONALLY INTEGRATED WITH WACIF AND WHICH ADHERES TO WACIF'S "SIGNIFICANT VOICE" WITHIN CORPORATION'S GOVERNANCE STRUCTURE, THE CORPORATION INTENDS TO ENGAGE IN THE FOLLOWING ACTIVITIES: - INTEGRALLY SUPPORT THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF, WACIF SO LONG AS WACIF CONTINUES TO BE ORGANIZED AND OPERATED FOR EXEMPT PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE; - ENGAGE IN ACTIVITIES AND PERFORM FUNCTIONS THAT WACIF WOULD OTHERWISE HAVE TO PERFORM; - OWN, LEASE AND MAINTAIN ONE OR MORE SITES AT WHICH WACIF IS LOCATED; - OTHERWISE BENEFIT, THROUGH THE PROVISION OF FINANCIAL SUPPORT AND SERVICES, WACIF; - ENGAGE IN ANY LAWFUL ACT OR ACTIVITY IN FURTHERANCE OF THE FOREGOING, PROVIDED SUCH ACT OR ACTIVITY IS ONE PERMITTED BY AN ORGANIZATION EXEMPT UNDER SECTION 501(C)(3) OF THE CODE AND THE REGULATIONS PROMULGATED THEREUNDER.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2IN FURTHERANCE OF THE CORPORATION'S CHARITABLE PURPOSES AND ITS CAPACITY TO SUPPORT WACIF, THE CORPORATION WILL PLAY A CRITICAL ROLE IN WACIF'S PLAN TO CONSTRUCT, DEVELOP, OPERATE, AND MAINTAIN THE PROJECT. THE CORPORATION WILL FULFILL SUCH ROLE IN TWO PRIMARY WAYS: (I) BY ACTING AS THE "QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS" FOR THE NMTC PROGRAM, AS DESCRIBED ABOVE, OR SIMILAR ROLE ASSOCIATED WITH OTHER FINANCING MECHANISMS, AND (II) BY FACILITATING THE CONSTRUCTION, DEVELOPMENT AND EQUIPPING OF THE PROJECT, AND THE OPERATION OF THE PROJECT BY LEASING THE PROJECT TO TENANTS FOR USE IN FURTHERANCE OF THE CORPORATION AND WACIF'S EXEMPT PURPOSE. WITHOUT THE CORPORATION, WACIF WOULD NOT BE ABLE TO UTILIZE THE NMTC PROGRAM TO GENERATE THE FUNDS NECESSARY TO CONSTRUCT AND DEVELOP THE PROJECT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 3:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION E, LINE 2B:
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt01231-1235 GOOD HOPE ROAD, INC. (GHR) FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN FASB ASC TOPIC 740, INCOME TAXES. GHR PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEAR ENDED DECEMBER 31, 2024, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF DECEMBER 31, 2024, THE STATUTE OF LIMITATIONS FOR TAX YEARS ENDED DECEMBER 31, 2021 THROUGH DECEMBER 31, 2022, REMAINED OPEN WITH THE U.S. FEDERAL JURISDICTION OR VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH GHR FILES TAX RETURNS; HOWEVER, THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. IT IS GHR'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAINTY IN INCOME TAXES, IF ANY, IN INCOME TAX OR INTEREST EXPENSE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION DOES NOT DIRECTLY HIRE OR COMPENSATE ITS OFFICERS OR DIRECTORS. ALL COMPENSATION IS PAID BY THE WASHINGTON AREA COMMUNITY INVESTMENT FUND, INC. (WACIF), A RELATED ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE COMPENSATION IS REPORTED ACCORDINGLY ON WACIF'S FORM 990.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION REVIEWS THE DRAFT FEDERAL FORM 990 AT THE MANAGEMENT LEVEL. ONCE REVIEWED AND DEEMED READY FOR APPROVAL, IT IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. UPON BOARD OF DIRECTORS APPROVAL, THE FEDERAL FORM 990 IS READY FOR FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CORPORATION'S CONFLICT OF INTEREST POLICY IS SIGNED BY ALL STAFF AND BOARD MEMBERS UPON COMMENCING THEIR PROFESSIONAL RELATIONSHIP TO THE CORPORATION. ON AN ANNUAL BASIS, ALL STAFF AND BOARD MEMBERS RE-SIGN THE CORPORATION'S CONFLICT OF INTEREST POLICY, DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. ANY CONFLICTS OF INTEREST THAT EXIST ARE DISCUSSED AMONG THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CORPORATION'S GOVERNING DOCUMENTS, INCLUDING ITS ORGANIZATIONAL BYLAWS, AUDITED FINANCIAL STATEMENTS, FEDERAL FORM 990, AND CONFLICT OF INTEREST POLICY, ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AS PART OF A CONSOLIDATE GROUP, THE FINANCE & AUDIT COMMITTEE OF WACIF ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEW, AND COMPILATION OF THE FINANCIAL STATEMENTS. AT ITS CURRENT STAGE OF DEVELOPMENT, THE CORPORATION'S BOARD LIAISES WITH WACIF'S FINANCE & AUDIT COMMITTEE ON TECHNICAL REVIEW, RECOMMENDATION, AND OVERSIGHT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0WASHINGTON AREA COMMUNITY INVESTMENT FUND INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WASHINGTON AREA COMMUNITY INVESTMENT FUND INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ANACOSTIA ENTREPRENEURSHIP CENTER INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0541442466
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1873827062
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0INCLUSIVE ENTREPRENEURSHIP, COMM WEALTH BUILDING, AND EQUITABLE ECON. DEV.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1PROPERTY/PROGRAM MANAGER OF WACIF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02012 RHODE ISLAND AVENUE NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt12012 RHODE ISLAND AVENUE NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1DC
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/PerformOfServicesForOthOrgInd01
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0DC
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd01
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum02025295505

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