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← ARC PROPERTIES INC

Form 990 for tax year 2024

Filed by ARC PROPERTIES INC.

Totals

Total revenue
$398,774
Total expenses
$226,693
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$14,774
Other revenue
$384,000
Total assets, end of year
$6,350,197
Total liabilities, end of year
$3,664,250
Net assets or fund balances, end of year
$2,685,947
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $14,774 · excluded $14,774

  • 6a · Gross rents

    real property $384,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $384,000

  • 6d · Net rental income or loss

    total $384,000 · related or exempt $384,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $1,000

  • 16 · Occupancy

    total $112,925

  • 22 · Depreciation, depletion and amortization

    total $112,768

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,943,243 · end of year $2,199,927

  • 10a · Land, buildings and equipment: cost or other basis

    $4,671,746

  • 10b · Land, buildings and equipment: accumulated depreciation

    $968,156

  • 10c · Land, buildings and equipment, net

    beginning of year $4,225,148 · end of year $3,703,590

  • 15 · Other assets

    beginning of year $0 · end of year $446,680

  • 17 · Accounts payable and accrued expenses

    end of year $9,725

  • 25 · Other liabilities

    beginning of year $3,654,525 · end of year $3,654,525

  • 27 · Net assets without donor restrictions

    beginning of year $2,513,866 · end of year $2,685,947

Mission and programs · 2024

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.

  • 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.

As filed on the 2024 return.

Listed in Part VII

  • Kathy Laky

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Duncan Barks

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Greta Harrison

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Adriana Toro

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Shauna Mulcahy

    MEMBER AT LARGE

    Total calculated
    $205,957
    From this org
    $0
    From related orgs
    $159,363
    Other
    $46,594
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $159,363 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,779 related
    Nontaxable benefits
    $0 + $31,815 related
    Filer's total
    $0 + $205,957 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
22 December 2025
IRS schema version
2024v5.2
Source object
202543569349300129

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