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Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2018.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
15 people listed on the 990.
Part VII, Section A · reportable compensation
Chairman
$0Pt VII · Sec A
Treasurer
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Secretary
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Member
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Provides affordable office and business space to foster entrepreneurship and economic growth.
Questions for Second District Community Development Corporation
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1 program · $376K · in their own filed words · FY2023
01
Our program is focused on providing quality commercial real estate spaces for small and medium business in the Prince Georges community to provide the funding to support our community outreach efforts.
$376Kprogram expense
By the numbers
The FY2023 990, line by line.
Download 990
1The main four
Money inPt VIII
$2.5M
Ln 12
Gifts and grantsLn 1h$2.0M
Other incomeLn 4–11$470K
Investment incomeLn 3$134
Money outPt IX
$429K
Ln 25
Programscol B$376K
Managementcol C$54K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$36K
Total assetsLn 16$3.2M
LiabilitiesLn 26$43K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$134
Other incomeLn 4–11$470K
Gains on assetsLn 7$0
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$36K
SavingsLn 2$0
Cash and savings togetherLn 1–2$36K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$3.0M
Other assetsLn 15$0
Total assetsLn 16$3.2M
LiabilitiesLn 26$43K
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $21K | $36K |
| InvestmentsLn 11–13 | $0 | $0 |
| Land, buildings, equipmentLn 10c | $3.1M | $3.0M |
| Total assetsLn 16 | $3.1M | $3.2M |
| LiabilitiesLn 26 | $2.1M | $43K |
| Net assetsLn 32 | $1.0M | $3.1M |
4Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $0 | $0 | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $0 | $0 | $0 | $0 |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $0 | $0 | $0 | $0 |
| Pension plan contributionsLn 8 | $0 | $0 | $0 | $0 |
| Other employee benefitsLn 9 | $0 | $0 | $0 | $0 |
| Payroll taxesLn 10 | $0 | $0 | $0 | $0 |
| Management feesLn 11a | $28K | $0 | $28K | $0 |
| Legal feesLn 11b | $10K | $0 | $10K | $0 |
| Accounting feesLn 11c | $0 | $0 | $0 | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $0 | $0 | ||
| Investment management feesLn 11f | $0 | $0 | $0 | $0 |
| Other fees for servicesLn 11g | $0 | $0 | $0 | $0 |
| Advertising and promotionLn 12 | $0 | $0 | $0 | $0 |
| Office expensesLn 13 | $220 | $0 | $220 | $0 |
| Information technologyLn 14 | $0 | $0 | $0 | $0 |
| RoyaltiesLn 15 | $0 | $0 | $0 | $0 |
| OccupancyLn 16 | $0 | $0 | $0 | $0 |
| TravelLn 17 | $0 | $0 | $0 | $0 |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $0 | $0 | $0 | $0 |
| InterestLn 20 | $31K | $31K | $0 | $0 |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $79K | $79K | $0 | $0 |
| InsuranceLn 23 | $16K | $16K | $0 | $0 |
| Other expenses (24a–d)Ln 24 | $205K | $190K | $15K | $0 |
| All other expensesLn 24e | $59K | $59K | $0 | $0 |
| Total functional expensesLn 25 | $429K | $376K | $54K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $954K | $658K | $296K | $3.4M | 990 PDF |
| FY2023 Viewing | $2.5M | $429K | $2.1M | $3.1M | 990 PDF |
| FY2022 | $438K | $564K | −$126K | $1.0M | 990 PDF |
| FY2021 | $467K | $642K | −$176K | $1.0M | 990 PDF |
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Schedules filed Part IV
III · Programs
R · Related orgs
G · Fundraising
L · Interested persons
I · Grants
A · Public support
O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,515,617 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$2,045,703
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$134
I-11 Other revenuePrior year $437,670$469,780
I-12 Total revenuePrior year $437,670$2,515,617
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $563,808$429,160
I-18 Total expensesPrior year $563,808$429,160
I-19 Revenue less expensesPrior year −$126,138$2,086,457
Part VI · Governance 15 of 15 board members independent, 3 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $2,515,617 across 16 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$2,045,703
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$2,045,703
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$134
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$469,780
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$2,515,617
Part IX · Statement of functional expenses $429,160 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$0
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $0 · Management $0 · Fundraising $0$0
IX-11a Management feesPrograms $0 · Management $28,072 · Fundraising $0$28,072
IX-11b Legal feesPrograms $0 · Management $10,210 · Fundraising $0$10,210
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesPrograms $0 · Management $220 · Fundraising $0$220
IX-14 Information technologyPrograms $0 · Management $0 · Fundraising $0$0
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$0
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $30,947 · Management $0 · Fundraising $0$30,947
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $79,134 · Management $0 · Fundraising $0$79,134
IX-23 InsurancePrograms $16,297 · Management $0 · Fundraising $0$16,297
IX-24 Other expenses (24a–d)Programs $190,342 · Management $15,150 · Fundraising $0$205,492
IX-24e All other expensesPrograms $58,788 · Management $0 · Fundraising $0$58,788
IX-25 Total functional expensesPrograms $375,508 · Management $53,652 · Fundraising $0$429,160
Part X · Balance sheet $3,167,105 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $20,523$36,052
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $5,508$31,790
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $21,203$49,493
X-10c Land, buildings and equipment, netStart of year $3,088,443$3,049,770
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $3,135,677$3,167,105
X-17 Accounts payable and accrued expensesStart of year $26,143$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $3,016$2,192
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $2,122,188$42,874
X-27 Net assets without donor restrictionsStart of year $1,013,489$3,124,231
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,013,489$3,124,231
X-33 Total liabilities and net assetsStart of year $3,135,677$3,167,105
Part XI · Reconciliation of net assets $3,124,231 net assets at year end
XI-1 Total revenue$2,515,617
XI-2 Total expenses$429,160
XI-3 Revenue less expenses$2,086,457
XI-4 Net assets at start of year$1,013,489
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$24,285
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,124,231
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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