Civic Intelligence

Anacostia Entrepreneurship Center Inc

EIN 87-3827062 • 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

0.34x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

64th percentile

0.06x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

61st percentile

10%

Higher net margin than 61% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

97th percentile

$233,491

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 23.5% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

78th percentile

23%

Faster asset growth than 78% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

81st percentile

48%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$174,397

Up $58,644 (+51%) from 2022

Liabilities

Down

$58,492

Down $15,519 (-21%) from 2022

Net Assets

Up

$115,905

Up $74,163 (+178%) from 2022

Operations
Liabilities / Revenue64th percentileNet Margin61st percentile

Revenue

Up

$992,244

Up $537,568 (+118%) from 2022

Expenses

Up

$891,755

Up $477,853 (+115%) from 2022

Net Income

Up

$100,489

Up $59,715 (+146%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth78th percentile

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

$200K$150K$100K$50K$0Assets 2021: $52,561Liabilities 2021: $51,593Net Assets 2021: $9682021Assets 2022: $115,753Liabilities 2022: $74,011Net Assets 2022: $41,7422022Assets 2024: $174,397Liabilities 2024: $58,492Net Assets 2024: $115,9052024

Highlighted filing

2024

Assets$174,397
Liabilities$58,492
Net Assets$115,905
Open 2024 Filing

Operations Trend

Revenue Growth81st percentile

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

$1.0M$500K$0Revenue 2021: $14,867Expenses 2021: $13,899Net Income 2021: $9682021Revenue 2022: $454,676Expenses 2022: $413,902Net Income 2022: $40,7742022Revenue 2024: $992,244Expenses 2024: $891,755Net Income 2024: $100,4892024

Highlighted filing

2024

Revenue$992,244
Expenses$891,755
Net Income$100,489
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$174,397
Liabilities
$58,492
Net assets
$115,905
Revenue
$992,244
Expenses
$891,755
Net income
$100,489
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$0.58$1.16$9.92$8.92$1.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$0.74$0.42$4.55$4.14$0.41
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.52$0.01$0.15$0.14$0.01
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
$992,244
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
Cash and Non-Interest-Bearing Accounts$505,813$148,306▼ $357,507
Pledges and Grants Receivable$41,641$0▼ $41,641
Land, Buildings, and Equipment, Net$21,667$11,667▼ $10,000
Prepaid Expenses and Deferred Charges$144,577$9,524▼ $135,053
Accounts Receivable$0$4,900▲ $4,900
Total Assets$713,698$174,397▼ $539,301
Liabilities
Other Liabilities$694,112$43,142▼ $650,970
Accounts Payable and Accrued Expenses$4,170$15,350▲ $11,180
Total Liabilities$698,282$58,492▼ $639,790
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,416$115,905▲ $100,489
Total Net Assets Fund Balance$15,416$115,905▲ $100,489
Total Liabilities and Net Assets / Fund Balance$713,698$174,397▼ $539,301

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,667$18,333$30,000
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleOtherTotal
Kevin FryattCfoo & COO-interim CEO Until 5/3/24$94,825$94,825
Michael JohnsSecretary$89,017$89,017

Board Members and Trustees

NameTitle
Shannan HerbertBoard Chair and CEO
David MaleyVice Chair and Treasurer
Messay DerebeDir., General Anacostia Arts Center
Revenue and Support

Revenue Composition

Contributions and Grants
$621,716
Program Service Revenue
$370,528
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$100,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$458,664
Other Expenses$433,091
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$383,680--$383,680
Occupancy$144,376--$144,376
Interest$95,313--$95,313
Fees for Services Other$66,234--$66,234
Other Employee Benefits$38,083--$38,083
Office Expenses$28,213--$28,213
Payroll Taxes$27,591--$27,591
Information Technology$24,141--$24,141
Insurance$17,838--$17,838
Conferences and Meetings$15,358--$15,358
Fees for Services Management$11,775--$11,775
Depreciation Depletion$10,000--$10,000
Pension Plan Contributions$9,310--$9,310
Fees for Services Accounting$7,675--$7,675
Travel$7,563--$7,563
Advertising$3,505--$3,505
Fees for Services Legal$1,100--$1,100
Total Functional Expenses$891,755$0$0$891,755
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
Security Deposit$25,760
Due to Related Entities$17,382
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

“There are currently no active board committees.”

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
Anacostia Entrepreneurship Center Inc
EIN
87-3827062
Phone
2025295505
Address
2012 RHODE ISLAND AVENUE NE, WASHINGTON, DC 20018

Signing Officer

Name
Shannan Herbert
Title
Board Chair
Phone
2029645915
Signed
2025-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannan Herbert
Formed
2021
Legal Domicile
Dc
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

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

Financial Statement Notes

PART X, LINE 2:

“Anacostia entrepreneurship center, inc. (aec), follows the authoritative guidance relating to accounting for uncertainty in income taxes included in fasb asc topic 740, income taxes. Aec 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 aec files tax returns; however, there are currently no examinations in progress. It is aec's policy to recognize interest and/or penalties related to uncertainty in income taxes, if any, in income tax or interest expense.”

Raw XML AppendixShowing 400 of 479 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.

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IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO RELATED ENTITIES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ANACOSTIA ENTREPRENEURSHIP CENTER, INC. (AEC), FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN FASB ASC TOPIC 740, INCOME TAXES. AEC 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 AEC FILES TAX RETURNS; HOWEVER, THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. IT IS AEC'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/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SHANNAN HERBERT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MESSAY DEREBE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2DAVID MALEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD CHAIR AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIR., GENERAL ANACOSTIA ARTS CENTER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VICE CHAIR AND TREASURER
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0AEC UTLIZES WACIF STAFF UNDER A SECONDMENT AGREEMENT. COMPENSATION IS DETERMINED THROUGH WACIF'S INTERNAL PROCESSES.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE CURRENTLY NO ACTIVE BOARD COMMITTEES.
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/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
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 (WACIF)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt11231-1235 GOOD HOPE ROAD INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0541442466
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1873806971
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0INCLUSIVE ENTREPRENEURSHIP, COMM. WEALTH BUILDING, AND EQUITABLE ECON. DEV.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1OPERATED EXCLUSIVELY ON BEHALF OF AND FOR THE BENEFIT OF WACIF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 12C, III-FI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02012 RHODE ISLAND AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt12012 RHODE ISLAND AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1WASHINGTON
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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IRS990/StatesWhereCopyOfReturnIsFldCd0DC

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