Union Station Redevelopment Corp
- Assets
- $164.6m
- Revenue
- $17.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- 07/2004
- Data as of
- 09/2023
- EIN
- 52-1318977
Organization Overview
Union Station Redevelopment Corp is located in Washington, DC. The organization was established in 2004. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2023, Union Station Redevelopment Corp employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Union Station Redevelopment Corp 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 09/2023, Union Station Redevelopment Corp generated $17.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $12.2m during the year ending 09/2023. 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
MANAGEMENT OF THE RENOVATED AND REDEVELOPED FACILITIES OF WASHINGTON, DC'S UNION STATION THROUGH THE FEDERAL RAILROAD ADMINISTRATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT OF THE REDEVELOPED UNION STATION FACILITY UNDER THE PROVISIONS OF PUBLIC LAW 97-125, RELATED TO MAINTENANCE AND PRESERVATION OF THE STATION COMPLEX, LOCATED IN WASHINGTON, DC. ON JULY 22, 2004, USRC WAS RECLASSIFIED AS A CHARITABLE ORGANIZATION EXEMPTUNDER IRC SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Polly Trottenberg Chairman | OfficerTrustee | 2 | $0 |
Dennis Newman Vice Chairman | Trustee | 2 | $0 |
Maura Brophy Director | Trustee | 2 | $0 |
Rebecca Reyes - Alicea Director | Trustee | 2 | $0 |
Sharon Carney Director (thru 09/23) | Trustee | 2 | $0 |
Douglas Carr President & CEO | Officer | 40 | $165,417 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Building Intelligence Consulting Services | 9/29/23 | $286,027 |
Schindler Elevator Corporation Structural Repair Services | 9/29/23 | $300,581 |
Structural Preservation Systems Llc Structural Repair Services | 9/29/23 | $2,086,289 |
Union Station Investco Inc Real Estate Services | 9/29/23 | $894,074 |
Covington & Burling Legal Services | 9/29/23 | $399,461 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $16,041,348 |
| Investment income | $1,033,038 |
| 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 | $17,074,386 |
| 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. | $350,850 |
| Compensation of current officers, directors, key employees. | $350,850 |
| Compensation to disqualified persons | $304,713 |
| Other salaries and wages | $120,064 |
| Pension plan accruals and contributions | $30,718 |
| Other employee benefits | $131,336 |
| Payroll taxes | $54,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $558,350 |
| Fees for services: Accounting | $153,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,159,275 |
| Advertising and promotion | $0 |
| Office expenses | $50,403 |
| Information technology | $50,253 |
| Royalties | $0 |
| Occupancy | $312,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $674,435 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,333,417 |
| Insurance | $194,880 |
| All other expenses | $125,263 |
| Total functional expenses | $12,235,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,049,550 |
| Savings and temporary cash investments | $4,329,220 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,817,458 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $572,894 |
| Net Land, buildings, and equipment | $74,639,082 |
| Investments—publicly traded securities | $18,539,923 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,657,523 |
| Total assets | $164,605,650 |
| Accounts payable and accrued expenses | $2,856,498 |
| Grants payable | $0 |
| Deferred revenue | $83,333 |
| 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 | $18,612,254 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,122,579 |
| Total liabilities | $27,674,664 |
| Net assets without donor restrictions | $136,930,986 |
| 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 | $164,605,650 |