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Nonprofiteer
← 22BEACON PROPERTY CORPORATION

Form 990 for tax year 2022

Filed by 22BEACON PROPERTY CORPORATION.

Totals

Total revenue
$10,166,989
Total expenses
$11,557,712
Contributions and grants received
$0
Grants paid
$5,905,000
Program service revenue
$7,237,929
Investment income
$2,929,017
Other revenue
$43
Total assets, end of year
$91,587,085
Total liabilities, end of year
$86,983,391
Net assets or fund balances, end of year
$4,603,694
Program services expenses (Part IX)
$11,379,926
Management and general expenses
$177,786
Fundraising expenses
$0
Program service expenses (Part III)
$11,379,926

Program services were 98.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 2a · Program service revenue: RENTAL INCOME

    total $5,158,431 · related or exempt $5,158,431

  • 2b · Program service revenue: DEVELOPER'S FEES

    total $1,291,924 · related or exempt $1,291,924

  • 2c · Program service revenue: CAPITAL LEASE INTEREST

    total $787,574 · related or exempt $787,574

  • 7a · Gross sales of assets other than inventory

    other assets $30,068,863

  • 7b · Less cost or other basis and sales expenses

    other assets $27,139,846

  • 7c · Gain or loss

    other assets $2,929,017

  • 7d · Net gain or loss

    total $2,929,017 · excluded $2,929,017

  • 11a · Other revenue: OTHER INCOME

    total $43 · excluded $43

  • 11e · Other revenue, total

    $43

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,905,000 · program services $5,905,000

  • 11c · Fees: accounting

    total $11,795 · program services $9,436 · management and general $2,359

  • 16 · Occupancy

    total $189,520 · program services $189,520

  • 20 · Interest

    total $3,273,835 · program services $3,273,835

  • 22 · Depreciation, depletion and amortization

    total $1,659,519 · program services $1,642,924 · management and general $16,595

  • 23 · Insurance

    total $124,771 · program services $43,670 · management and general $81,101

  • 24a · Other expenses: PREDEVELOPMENT

    total $265,707 · program services $265,707

  • 24b · Other expenses: LOAN FEES

    total $115,929 · program services $40,575 · management and general $75,354

  • 24c · Other expenses: REPRESENTATION FEE

    total $9,959 · program services $7,967 · management and general $1,992

  • 24e · All other expenses

    total $1,677 · program services $1,292 · management and general $385

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,577,246 · end of year $9,380,985

  • 4 · Accounts receivable

    beginning of year $421,748 · end of year $723,425

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,305 · end of year $0

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

    $68,712,663

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

    $6,145,576

  • 10c · Land, buildings and equipment, net

    beginning of year $79,259,287 · end of year $62,567,087

  • 15 · Other assets

    beginning of year $12,118,812 · end of year $18,915,588

  • 17 · Accounts payable and accrued expenses

    beginning of year $566,699 · end of year $4,301,642

  • 19 · Deferred revenue

    beginning of year $15,553 · end of year $38,987

  • 23 · Secured mortgages and notes payable

    beginning of year $89,123,464 · end of year $80,781,826

  • 25 · Other liabilities

    beginning of year $2,681,265 · end of year $1,860,936

  • 27 · Net assets without donor restrictions

    beginning of year $5,994,417 · end of year $4,603,694

Mission and programs · 2022

Mission

FOSTERING THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC BY ENGAGING IN ACTIVITIES DESIGNED TO PROMOTE OPPORTUNITY, CHOICE AND PARENT INITIATIVE IN K-12 AMERICAN EDUCATION; ADVANCE INNOVATIVE ACCOUNTABLE COMMUNITY-BASED (CONTINUED ON SCHEDULE O) EDUCATIONAL ALTERNATIVE BY PROVIDING REAL ESTATE DEVELOPMENT SERVICES TO PUBLIC CHARTER SCHOOLS; STIMULATE ECONOMIC DEVELOPMENT AND JOB CREATION IN ECONOMICALLY DISTRESSED COMMUNITIES BY INVESTING IN AND DEVELOPING CHARTER SCHOOLS AS A CATALYST FOR REVITALIZATION; CREATE MORE PUBLIC CHARTER SCHOOLS IN COMMUNITIES WITH CHARTER-SCHOOL WAITING LISTS; EXPAND EDUCATIONAL OPPORTUNITY FOR LOW-INCOME AND MINORITY STUDENTS; AND INCREASE HIGH SCHOOL GRADUATION RATES AND COLLEGE ATTENDANCE RATES IN URBAN COMMUNITIES.

Activities or mission (Part I)

PROVIDING REAL ESTATE DEVELOPMENT SERVICES TO PUBLIC CHARTER SCHOOLS.

  • PROVIDING REAL ESTATE DEVELOPMENT SERVICES TO PUBLIC CHARTER SCHOOLS.

    Expenses $11,379,926 · Grants $5,905,000 · Revenue $7,237,929

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Curran

    INCOMING CHAIR

    Total calculated
    $28,000
    From this org
    $0
    From related orgs
    $28,000
    Other
    $0
    Hours/week
    2 + 4 related

  • Tom Nida

    OUTGOING CHAIR

    Total calculated
    $11,000
    From this org
    $0
    From related orgs
    $11,000
    Other
    $0
    Hours/week
    2 + 4 related

  • Ember Reichgott Junge

    VICE CHAIR

    Total calculated
    $10,000
    From this org
    $0
    From related orgs
    $10,000
    Other
    $0
    Hours/week
    2 + 4 related

  • Jim Goenner

    DIRECTOR & TREASURER

    Total calculated
    $17,000
    From this org
    $0
    From related orgs
    $17,000
    Other
    $0
    Hours/week
    2 + 4 related

  • Lanette Dailey-Reese

    DIRECTOR & SECRETARY

    Total calculated
    $17,000
    From this org
    $0
    From related orgs
    $17,000
    Other
    $0
    Hours/week
    2 + 2 related

  • Jay Hromatka

    DIRECTOR

    Total calculated
    $12,500
    From this org
    $0
    From related orgs
    $12,500
    Other
    $0
    Hours/week
    2 + 4 related

  • Leo Valdez

    DIRECTOR

    Total calculated
    $13,500
    From this org
    $0
    From related orgs
    $13,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Christina Ryan Digiulian

    DIRECTOR

    Total calculated
    $18,500
    From this org
    $0
    From related orgs
    $18,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Al Dubin

    PRESIDENT/CEO (OUTGOING)

    Total calculated
    $365,898
    From this org
    $0
    From related orgs
    $345,308
    Other
    $20,590
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $55,833 related
    Bonus
    $0 + $279,167 related
    Other
    $0 + $10,308 related
    Deferred
    $0 + $20,500 related
    Nontaxable benefits
    $0 + $90 related
    Filer's total
    $0 + $365,898 related

  • Laura Fiemann

    SENIOR VICE PRESIDENT

    Total calculated
    $357,328
    From this org
    $0
    From related orgs
    $315,017
    Other
    $42,311
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $230,500 related
    Bonus
    $0 + $84,517 related
    Other
    $0
    Deferred
    $0 + $12,485 related
    Nontaxable benefits
    $0 + $29,826 related
    Filer's total
    $0 + $357,328 related

  • Annette High

    FINANCIAL CONTROLLER

    Total calculated
    $238,348
    From this org
    $0
    From related orgs
    $190,082
    Other
    $48,266
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,500 related
    Bonus
    $0 + $48,582 related
    Other
    $0
    Deferred
    $0 + $17,999 related
    Nontaxable benefits
    $0 + $30,267 related
    Filer's total
    $0 + $238,348 related

  • Michelle Prosperi

    CHIEF OPERATING OFFICER

    Total calculated
    $393,995
    From this org
    $0
    From related orgs
    $337,908
    Other
    $56,087
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,250 related
    Bonus
    $0 + $90,658 related
    Other
    $0
    Deferred
    $0 + $20,500 related
    Nontaxable benefits
    $0 + $35,587 related
    Filer's total
    $0 + $393,995 related

  • Rebecca Secrest

    SENIOR VICE PRESIDENT

    Total calculated
    $246,601
    From this org
    $0
    From related orgs
    $219,350
    Other
    $27,251
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,500 related
    Bonus
    $0 + $58,850 related
    Other
    $0
    Deferred
    $0 + $15,649 related
    Nontaxable benefits
    $0 + $11,602 related
    Filer's total
    $0 + $246,601 related

  • Mark Zeizel

    VICE PRESIDENT

    Total calculated
    $251,045
    From this org
    $0
    From related orgs
    $205,587
    Other
    $45,458
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $151,725 related
    Bonus
    $0 + $53,862 related
    Other
    $0
    Deferred
    $0 + $20,500 related
    Nontaxable benefits
    $0 + $24,958 related
    Filer's total
    $0 + $251,045 related

  • Alan Washington

    PRESIDENT/CEO (INCOMING)

    Total calculated
    $141,365
    From this org
    $0
    From related orgs
    $128,083
    Other
    $13,282
    Hours/week
    1 + 41 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE PRESIDENT/CEO, OTHER MANAGEMENT PERSONNEL AND KEY EMPLOYEES INCLUDES AN ANALYSIS OF COMPARABLE DATA FOR SIMILAR SIZED NON-PROFIT ORGANIZATIONS WORKING IN THE SAME GENERAL FIELD OBTAINED VIA A SALARY SURVEY OF WASHINGTON, D.C. BASED NONPROFITS AND A PUBLIC RECORDS SEARCH OF FORM 990S. COMPENSATION OF EXECUTIVE STAFF IS DETERMINED BASED ON THIS COMPARABLE DATA, PREVIOUS LEVEL OF APPLICABLE WORK EXPERIENCE AND ANNUAL PERFORMANCE REVIEWS. ONLY THE PRESIDENT AND CEO'S COMPENSATION IS SUBJECT TO BOARD APPROVAL.

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CROSSROADS QALICB

    REAL ESTATE AND LOAN FINANCING · DE · income $429,309 · assets $10,487,458

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC ANDREWS AFB LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $605,714 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC ARTS & SCIENCES LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $0 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC COPERNI 3 LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $512,385 · assets $5,990,695

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC CREATE ACADEMY LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $4,407 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC DSA LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $290,363 · assets $2,604,908

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC ETHOS LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $406,336 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC FOUNDERS ACADEMY LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $187,565 · assets $1,936,120

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC GILBERT SENA LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $136,912 · assets $1,957,535

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC GLEN CANYON LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $67,821 · assets $2,137,873

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC INTREPID LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $634,730 · assets $5,028,327

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC JHS LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $1,815,417 · assets $5,194

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC MONARCH LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $0 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC MOSAIC LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $144,334 · assets $2,737,885

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC NAS LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $117,557 · assets $1,671,496

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC PHOENIX MODERN LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $473,128 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC PILOTED LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $271,180 · assets $2,631,849

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC PLA LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $455,257 · assets $7,823,314

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC PROMESA LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $776,262 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC PROSPECT LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $1 · assets $5,708,266

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC SAN ANTONIO PREP LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $528,262 · assets $7,350,223

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC SD GILBERT LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $0 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC SELF-DEVELOPMENT LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $0 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC TIERRA ENCANTADA LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $303,683 · assets $4,202,024

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC TMS LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $653,897 · assets $8,330,235

    Directly controlled by CSDC PROPERTY CORP

  • CSDCPC VEGA LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $0 · assets $0

    Directly controlled by CSDC PROPERTY CORP

  • MCCURDY QALICB

    REAL ESTATE AND LOAN FINANCING · DE · income $519,715 · assets $8,104,010

    Directly controlled by CSDC PROPERTY CORP

  • NORTH LAMB QALICB

    REAL ESTATE AND LOAN FINANCING · DE · income $756,123 · assets $9,031,766

    Directly controlled by CSDC PROPERTY CORP

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202302919349301675

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