Anacostia Economic Development Corporation
- Assets
- $22.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Washington, DC
- Founding
- 10/1971
- Data as of
- 12/2023
- EIN
- 52-0897780
Organization Overview
Anacostia Economic Development Corporation is located in Washington, DC. The organization was established in 1971. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Anacostia Economic Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Anacostia Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Anacostia Economic Development Corporation generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $796.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE THE ECONOMIC,WELFARE,EDUCATIONAL AND SOCIAL LEVELS OF RESIDENTS AND THE OVERALL ECONOMIC DEVELOPMENT NEEDS OF THE ANACOSTIA/FAR SOUTHEAST AREAS OF WASHINGTON, D.C.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS PROVIDES TECHNICAL SUPPORT TO SMALL BUSINESSES IN WARD 7 AND 8.
DEVELOPE,PROMOTE AND PARTICIPATE IN THE REVITALIZATION OF COMMERCIAL NEIGHBORHOODS AND FACILITIES BY RETAIL JOBS AND BRINGING QUALITY RETAIL SERVICE TO THE AREA.
FACADE IMPROVEMENTS - HISTORICAL FACADES
HOWARD - PROVIDE TECHNICAL ASSISTANCE TO SMALL BUSINESS AS DEFINE BY SMALL BUSINESS ADMINISTRATION STARTING AND CONTINUOUS BUSINESSES WHICH IS LOCATED IN THE ANACOSTIA SOUTHEAST CORRIDOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Howrad Chairperson | OfficerTrustee | 1 | $0 |
Graylin Presbury Member | Trustee | 1 | $0 |
Cindy Athey Member | Trustee | 1 | $0 |
Stan Voudrie Member | Trustee | 1 | $0 |
Pamela B Stuart Member | Trustee | 1 | $0 |
T'chaka Sapp Vice Chair. | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $425,244 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $465,244 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,363,419 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $26,804 |
| Compensation of current officers, directors, key employees. | $6,402 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $354,546 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $90,143 |
| Payroll taxes | $0 |
| Fees for services: Management | $80,965 |
| Fees for services: Legal | $40,995 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,809 |
| Travel | $340 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,968 |
| All other expenses | $108,269 |
| Total functional expenses | $796,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,936,840 |
| Savings and temporary cash investments | $54,547 |
| Pledges and grants receivable | $70,502 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,794,300 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,556 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,736,777 |
| Total assets | $22,598,522 |
| Accounts payable and accrued expenses | $7,443 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,740,311 |
| Total liabilities | $1,747,754 |
| Net assets without donor restrictions | $20,850,768 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,598,522 |