Acrc Lessor INC FY2021 filing

Baltimore, MDUnknown exempt organizationSince 2017EIN 82-0658936

The organization was formed for the purpose of renovating, leasing and subleasing the building located at 901 east fayette street to national aquarium, INC., all for the benefit of nai and for the purpose of supporting nai.

91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average surplus $3.0M a year · 70% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20.1M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$19.3M
116% of total assets
Concern: liabilities are 116% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$231K
+15% vs prior year
Spent
$1.3M
To programs
91%
Net assets
−$2.7M
By yearFY2020–FY2024
Revenue
$231K
FY2021▲ +15%
Revenue by fiscal year
FY2020$200K
FY2021$231K
FY2022$265K
FY2023$286K
FY2024$20.3M
Expenses
$1.3M
FY2021▲ +0.9%
Expenses by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.4M
FY2023$1.4M
FY2024$936K
Net assets
−$2.7M
FY2021▼ -68%
Net assets by fiscal year
FY2020−$1.6M
FY2021−$2.7M
FY2022−$3.8M
FY2023−$4.9M
FY2024$0

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.2M Management & general 9% · $113K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President/Chief Executive
$0Pt VII · Sec A
See Acrc Lessor INC executive salaries →

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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

Renovates, leases, and subleases a building to support the National Aquarium.

Provided by the organization

This section is blank until Acrc Lessor INC claims this page.

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1 program service account for $1.2M of program spending, described in the organization's own filed words · FY2021.
01

The organization was formed for the purpose of renovating, leasing and subleasing the building located at 901 east fayette street to national aquarium, inc., all for the benefit of nai and for the purpose of supporting nai.

$1.2Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$20.1M
Grants paid · 4 grants · $401K · 2020–2023
National Aquarium INCMD · FY2023$134,660
National Aquarium INCMD · FY2022$114,525
National Aquarium INCMD · FY2021$80,871
National Aquarium INCMD · FY2020$70,500

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$231K
Ln 12
Other incomeLn 4–11$231K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$113K
Owns and owesPt X
−$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$16.6M
LiabilitiesLn 26$19.3M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$231K
Total revenueLn 12$231K
Assets in detailPt X, end of year
CashLn 1$125K
Cash and savings togetherLn 1–2$125K
Land, buildings, equipmentLn 10c$16.3M
Total assetsLn 16$16.6M
LiabilitiesLn 26$19.3M
Net assetsLn 32−$2.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$208K$125K
Land, buildings, equipmentLn 10c$16.9M$16.3M
Total assetsLn 16$17.4M$16.6M
LiabilitiesLn 26$19.0M$19.3M
Net assetsLn 32−$1.6M−$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$81K$81K
Management feesLn 11a$103K$103K
Accounting feesLn 11c$10K$10K
Office expensesLn 13$293$293
InterestLn 20$509K$509K
Depreciation, depletion and amortizationLn 22$620K$620K
Total functional expensesLn 25$1.3M$1.2M$113K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $20.3M$936K$19.3M$0 990 PDF
FY2023 $286K$1.4M−$1.1M−$4.9M 990 PDF
FY2022 $265K$1.4M−$1.1M−$3.8M 990 PDF
FY2021 Viewing $231K$1.3M−$1.1M−$2.7M 990 PDF
FY2020 $200K$1.3M−$1.1M−$1.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $230,833 across 2 lines filed
VIII-6 Net rental income or lossRelated to mission $230,833$230,833
VIII-12 Total revenueRelated to mission $230,833 · Unrelated business $0 · Excluded from tax $0$230,833
Part IX · Statement of functional expenses $1,323,741 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $80,871$80,871
IX-11a Management feesManagement $103,200$103,200
IX-11c Accounting feesManagement $10,000$10,000
IX-13 Office expensesManagement $293$293
IX-20 InterestPrograms $509,495$509,495
IX-22 Depreciation, depletion and amortizationPrograms $619,882$619,882
IX-25 Total functional expensesPrograms $1,210,248 · Management $113,493 · Fundraising $0$1,323,741
Part X · Balance sheet $16,634,404 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $208,016$125,237
X-9 Prepaid expenses and deferred chargesStart of year $335,000$235,000
X-10c Land, buildings and equipment, netStart of year $16,894,049$16,274,167
X-16 Total assetsStart of year $17,437,065$16,634,404
X-17 Accounts payable and accrued expensesStart of year $450,028$514,305
X-26 Total liabilitiesStart of year $19,044,302$19,334,549
X-27 Net assets without donor restrictionsStart of year −$1,607,237−$2,700,145
X-32 Total net assets or fund balancesStart of year −$1,607,237−$2,700,145
X-33 Total liabilities and net assetsStart of year $17,437,065$16,634,404
Part XI · Reconciliation of net assets −$2,700,145 net assets at year end
XI-1 Total revenue$230,833
XI-2 Total expenses$1,323,741
XI-3 Revenue less expenses−$1,092,908
XI-4 Net assets at start of year−$1,607,237
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$2,700,145

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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