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Nonprofiteer
← ANACOSTIA ENTREPRENEURSHIP CENTER INC

Form 990 for tax year 2025

Filed by ANACOSTIA ENTREPRENEURSHIP CENTER INC.

Totals

Total revenue
$1,000,182
Total expenses
$930,214
Contributions and grants received
$727,885
Grants paid
$0
Program service revenue
$272,297
Investment income
$0
Other revenue
$0
Total assets, end of year
$174,220
Total liabilities, end of year
-$11,653
Net assets or fund balances, end of year
$185,873
Program services expenses (Part IX)
$930,214
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$930,214

Program services were 100.0% 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.

  • 1d · Related organizations

    $404,882

  • 1e · Government grants (contributions)

    $323,003

  • 2a · Program service revenue: RENTAL INCOME

    total $245,965 · related or exempt $245,965

  • 2b · Program service revenue: SPONSORSHIP

    total $25,000 · related or exempt $25,000

  • 2c · Program service revenue: ADMIN. SERVICE FEES

    total $1,332 · related or exempt $1,332

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $363,224 · program services $363,224

  • 8 · Pension plan contributions

    total $1,841 · program services $1,841

  • 9 · Other employee benefits

    total $20,677 · program services $20,677

  • 10 · Payroll taxes

    total $17,298 · program services $17,298

  • 11a · Fees: management

    total $15,900 · program services $15,900

  • 11b · Fees: legal

    total $125 · program services $125

  • 11g · Fees: other

    total $98,339 · program services $98,339

  • 12 · Advertising and promotion

    total $1,636 · program services $1,636

  • 13 · Office expenses

    total $29,705 · program services $29,705

  • 14 · Information technology

    total $8,544 · program services $8,544

  • 16 · Occupancy

    total $124,946 · program services $124,946

  • 17 · Travel

    total $6,989 · program services $6,989

  • 19 · Conferences, conventions and meetings

    total $1,100 · program services $1,100

  • 20 · Interest

    total $208,594 · program services $208,594

  • 22 · Depreciation, depletion and amortization

    total $10,000 · program services $10,000

  • 23 · Insurance

    total $21,296 · program services $21,296

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $148,306 · end of year $144,626

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year -$3,850

  • 4 · Accounts receivable

    beginning of year $4,900 · end of year $29,175

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,524 · end of year $1,152

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

    $31,450

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

    $28,333

  • 10c · Land, buildings and equipment, net

    beginning of year $11,667 · end of year $3,117

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,350 · end of year $57,737

  • 25 · Other liabilities

    beginning of year $43,142 · end of year -$69,390

  • 27 · Net assets without donor restrictions

    beginning of year $115,905 · end of year $185,873

Mission and programs · 2025

Mission

TO INTEGRALLY SUPPORT THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF, THE WASHINGTON AREA COMMUNITY INVESTMENT FUND, INC (WACIF).

Activities or mission (Part I)

TO INTEGRALLY SUPPORT THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF, WACIF.

  • SMALL BUSINESS SUPPORT - THE ANACOSTIA ENTREPRENEURSHIP CENTER, INC. (AEC) PROVIDED SUPPORT TO SMALL BUSINESSES, NONPROFITS, AND SOCIAL ENTERPRISES THROUGH OFFERING AFFORDABLE COMMERCIAL, RETAIL SPACE, AND COMMUNITY MEETING SPACE TO OVER 80 SMALL BUSINESSES WITHIN WASHINGTON, D.C.'S WARD 8 COMMUNITY THROUGH ITS RETAIL STORE FRONTS, THE "HIVE" CO-WORKING FACILITY, AND BLACK BOX THEATER. IN ADDITION, THE AEC WAS UTILIZED TO PROVIDE CONVENINGS IN SUPPORT AND IN CELEBRATION OF MINORITY-OWNED BUSINESSES, INCLUDING ARTISTS.

    Expenses $930,214 · Revenue $272,297

As filed on the 2025 return.

Listed in Part VII

  • Shannan Herbert

    BOARD CHAIR AND CEO

    Total calculated
    $289,209
    From this org
    $0
    From related orgs
    $251,622
    Other
    $37,587
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,489 related
    Bonus
    $0
    Other
    $0 + $133 related
    Deferred
    $0 + $13,594 related
    Nontaxable benefits
    $0 + $23,993 related
    Filer's total
    $0 + $289,209 related

  • David Maley

    INTERIM CFO UNTIL MARCH 2025

    Total calculated
    $110,144
    From this org
    $0
    From related orgs
    $100,594
    Other
    $9,550
    Hours/week
    2 + 40 related

  • John McLean

    CHIEF FINANCIAL OFFICER

    Total calculated
    $139,981
    From this org
    $0
    From related orgs
    $126,440
    Other
    $13,541
    Hours/week
    2 + 42 related

  • Megan Carras

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $169,083
    From this org
    $0
    From related orgs
    $159,260
    Other
    $9,823
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,989 related
    Bonus
    $0 + $271 related
    Other
    $0
    Deferred
    $0 + $2,025 related
    Nontaxable benefits
    $0 + $7,798 related
    Filer's total
    $0 + $169,083 related

  • Messay Derebe

    DIR., GENERAL ANACOSTIA ARTS CENTER

    Total calculated
    $167,664
    From this org
    $0
    From related orgs
    $151,382
    Other
    $16,282
    Hours/week
    12 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $151,111 related
    Bonus
    $0 + $271 related
    Other
    $0
    Deferred
    $0 + $7,695 related
    Nontaxable benefits
    $0 + $8,587 related
    Filer's total
    $0 + $167,664 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
AEC UTLIZES WACIF STAFF UNDER A SECONDMENT AGREEMENT. COMPENSATION IS DETERMINED THROUGH WACIF'S INTERNAL PROCESSES.

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
2025
Filed
25 August 2026
IRS schema version
2025v4.2
Source object
202642379349301334

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