2025-11-17T11:29:50-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2024-01-01 262998289 AMERICAN COMMUNITIES TRUST AMER 2403544544 PO BOX 50160 BALTIMORE MD 21211 DR GARY D RODWELL INTERIM CEO 2403544544 2025-11-15 1 1 LORI ROTHE YOKOBOSKY P01273422 4107834900 2025-11-14 2024 2025-03-06 01:10:19Z DR GARY D RODWELL PO BOX 50160 BALTIMORE MD 21211 1675135 0 X WWW.ACTIMPACT.ORG X 2008 MD TO IMPROVE INNER CITY NEIGHBORHOODS BY INCREASING ECONOMIC OPPPORTUNITY. 5 5 7 5 0 0 2544718 1541607 1906 7925 199 12418 39646 113185 2586469 1675135 89880 0 0 0 240639 371392 0 0 44785 454334 748235 784853 1119627 1801616 555508 11213260 11391330 3130710 2753272 8082550 8638058 X TO BUILD STRONG, VIBRANT COMMUNITIES BY PARTNERING WITH NONPROFIT AND FOR PROFIT ORGANIZATIONS TO DEVELOP COMMUNITY INVESTMENT STRATEGIES THAT HAVE LASTING SOCIAL IMPACT AND CREATE ECONOMIC OPPORTUNITY. 0 0 1010462 9422 BALTIMORE PUMPHOUSE:THE BALTIMORE PUMPHOUSE IS A MULTI-PHASED, $27M INITIATIVE TO ESTABLISH A SMALL BUSINESS TOWN CENTER IN THE HEART OF A SEVERELY DISTRESSED COMMUNITY THAT WAS ONCE AN EPICENTER OF BUSINESS AND RETAIL. THE BALTIMORE PUMPHOUSE HAS EXPANDED TO EIGHT BUILDINGS (SIX OF WHICH ARE HISTORIC) (THE "PROJECT") LOCATED AT THE CORNER OF N. WOLFE ANDN. GAY STREETS, IN BALTIMORE'S BROADWAY EAST COMMUNITY (THE "PROPERTY").THE PROJECT SPONSOR, AMERICAN COMMUNITIES TRUST ("ACT"), IS A NON-PROFIT COMMUNITY DEVELOPMENT PARTNER SPECIALIZING IN CREATING INCLUSIVE ECONOMIC DEVELOPMENT PROJECTS THAT BRING GROWTH AND PROSPERITY TO LOW-INCOME RESIDENTS. THE FIVE BUILDINGS THAT CONSTITUTE THE BALTIMORE PUMPHOUSE WERE BUILT 125 YEARS AGO AS THE WATER PUMPING STATION FOR EAST BALTIMORE.VACANT SINCE THE 1990'S, THE CONDITION OF THE BUILDINGS WAS SO DERELICT THAT THEY BECAME THE PERFECT FILMING LOCATION FOR THE WIRE. KEY OBJECTIVES OF THE PROJECT INCLUDE ELIMINATING FOUR ACRES OF BLIGHT FROM A SEVERELY DISTRESSED COMMUNITY, SUPPORTING MINORITY AND LOCALLY OWNED SMALL BUSINESSES; LOCAL JOB CREATION; INCREASING OPPORTUNITIESFOR COMMERCE AND THE CIRCULATION OF THE DOLLAR WITHIN THE COMMUNITY; RELIEVING PRESSURE ON AND UTILIZATION OF SOCIAL SERVICES; INCREASING DIRECT ACCESS TO HEALTHY FOOD; AND RESTORING HISTORICAL TREASURES.THIS MULTI-PHASE STRATEGY IS CURRENTLY IN ITS FINAL PHASE FOR COMPLETION.THE WORK DONE TO DATE INCLUDES:CONSTRUCTION COMPLETED IN AUGUST 2017: ENVIRONMENTAL REMEDIATION, SITE WORK AND REPAIR OF ESSENTIAL INFRASTRUCTURE, WHILE BUILDING NEW 8,000 SF COMMERCIAL PRODUCTION AND TEACHING KITCHENS (BUILDING 7-NEW CONSTRUCTION).CONSTRUCTION COMPLETED IN OCTOBER 2019: REHABILITATED THE HISTORIC STOREHOUSE (BUILDING 3). TODAY, THE 9,890 SF STOREHOUSE SERVES CREATIVE, HOUSING A PHOTOGRAPHY AND MOTION STUDIO AND FASHION RETAILERS.CONSTRUCTION COMPLETED IN NOVEMBER 2022: REHABILITATED 6,830 SF HISTORIC STABLES (BUILDINGS 5 AND 6) AND CONSTRUCTING A NEW CONNECTOR BETWEEN BUILDINGS 5 AND 6 TO FORM ONE SINGLE BUILDING. THE HISTORIC STABLES WILL BE LEASED FOR NONPROFIT OFFICE/ FLEX SPACE.CONSTRUCTION COMPLETED IN JULY 2025: REHABILITATED 10,000 SF OF THE HISTORIC GARAGE (BUILDING 1). THE HISTORIC GARAGE WILL BE LEASED FOR NONPROFIT OFFICE/ FLEX SPACE.THE KITCHENS BUILDING AT 1731 LLEWELYN IS FULLY LEASED 5 SMALL BUSINESS USERS, AND ONE NONPROFIT TENANT.ACQUIRING A 10,000 SF WAREHOUSE ADJACENT TO THE CAMPUS THAT WAS GOING TO BECOME VACANT IN JANUARY 2024. THE WAREHOUSE IS HOME TO A NONPROFIT USER AS A FIELD HOUSE FOR GARDENING MATERIALS AND HAS A PRELEASE TO A GYM THAT FOCUSES ON MENTAL AND PHYSICAL HEALTH. 53182 LAST MILE PARK:LAST MILE PARK IS A $6.3 MILLION, ONE-MILE PUBLIC ART AND HERITAGE ECO-TRAIL THAT WILL LOOP THROUGH AMTRAK'S EIGHT OVERPASSES. LYING ADJACENT TO THE BALTIMORE PUMPHOUSE, THE TRAIL LIES BETWEEN THE NORTH-OF-THE-TRACKS NEIGHBORHOODS TO THE NORTH AND EBDI, EAGER PARK, AND JOHNS HOPKINS UNIVERSITY TO THE SOUTH. THE TRAIL WILL TAKE PEDESTRIANS ON A TOUR OF SCULPTURAL ART, PERMANENT ARTISTIC LIGHT INSTALLATIONS, AND GREEN INFRASTRUCTURE WHILE PROVIDING ENGAGING INFORMATION ON THE NARRATIVES AND CULTURE OF EAST BALTIMORE AND ITS RESIDENTS. LAST MILE PARK STITCHES TOGETHER THE NORTHERN AND SOUTHERN NEIGHBORHOODS AROUND THE RAILROAD TRACK, PROMOTING ONE UNIFIED COMMUNITY. THE PILOT SITE OF LAST MILE PARK OPENED IN MAY 2022. ACT RECEIVED AN ADDITIONAL AWARD OF $904,000 FOR THE NEXT SITE IN 2024. 1063644 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 16 0 1 7 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MD X FOX AND FINK CONSULTING 7174513262 2008 WILSON ROAD WHITE HALL MD 21161 BENJAMIN L CIRKA VICE PRESIDENT 0.50 0.50 X X 0 0 0 BILL STRUEVER PRESIDENT 0.50 0.50 X X 0 0 0 CHINA BOAK TERRELL OUTGOING CEO 40.00 10.00 X X 181481 0 23089 DR GARY RODWELL BOARD MEMBER 0.50 0.50 X X 0 0 0 ELAINE DIPIETRO TREASURER (THRU 11/24) AND INTERIM CEO 0.50 0.50 X X 20000 0 0 JANICE WOODCOCK SECRETARY 0.50 0.50 X X 0 0 0 201481 0 23089 1 0 1 0 0 1541558 49 1541607 CONSULTING AND DEVELOP 236000 7925 7925 7925 12418 12418 111688 0 111688 111688 111688 LEGAL FEES 900099 1497 1497 1497 1675135 9422 0 124106 224570 213342 2246 8982 90075 85571 901 3603 28662 27229 287 1146 4543 4316 45 182 23542 22365 235 942 21765 20676 218 871 127054 120701 1271 5082 61022 57970 611 2441 119319 113353 1193 4773 274356 260638 2744 10974 6279 5965 63 251 97030 92179 970 3881 2822 2681 28 113 38588 36658 386 1544 1119627 1063644 11198 44785 1678226 548380 27162 12053 918310 12085 164134 140972 173613 2375 30534 171238 5303482 5303482 3091412 5203120 11213260 11391330 157407 651237 375148 487307 1421654 1532158 1176501 82570 3130710 2753272 X 6698511 7254019 1384039 1384039 8082550 8638058 11213260 11391330 555508 0 X 0 1 X 1 0 X 507691 1001518 1644865 2544718 1541607 7240399 244400 253635 3893 1906 7925 511759 752091 1255153 1648758 2546624 1549532 7752158 0 0 0 7752158 15303 5474 20859 29752 124106 195494 15303 5474 20859 29752 124106 195494 3093 8490 10093 1497 23173 770487 1260627 1678107 2586469 1675135 7970825 0.97260 0.99410 0.02450 0.00010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER - 2020 AMOUNT: $ 3,093. 2022 AMOUNT: $ 8,490. 2023 AMOUNT: $ 10,093. 2024 AMOUNT: $ 1,497. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 163069 163069 10544 2375 8169 171238 INVESTMENT IN BFH LL, LLC 5303482 C 5303482 CONSTRUCTION IN PROGRESS 6219829 DUE FROM BFH -1016709 5203120 DUE TO BALTIMORE FOOD HUB INC 72695 SECURITY DEPOSITS 9875 82570 X 1675135 0 1675135 0 1675135 1119627 0 1119627 0 1119627 PART X, LINE 2: THE ORGANIZATION AND BFH ARE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. HEB AND BFH LL HAVE ELECTED TO BE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES, AND AS SUCH ARE NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND REPORTED BY THEIR OWNERS ON THEIR RESPECTIVE TAX RETURNS. HEB AND BFH LL'S FEDERAL TAX STATUS AS PASS-THROUGH ENTITIES IS BASED ON THEIR LEGAL STATUS AS LIMITED LIABILITY COMPANIES. ACCORDINGLY, THESE CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES FOR HEB AND BFH LL AND THESE ENTITIES HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. FAWB IS WHOLLY-OWNED BY THE ORGANIZATION AND IS DISREGARDED FOR INCOME TAX PURPOSES. BFH MEMBER ELECTED TO BE TREATED AS A C-CORPORATION FOR INCOME TAX PURPOSES AND THUS ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH THE LIABILITY METHOD AS REQUIRED UNDER GUIDANCE FROM THE FASB ON ACCOUNTING FOR INCOME TAXES AS INTERPRETED BY CLARIFYING GUIDANCE ISSUED BY THE FASB. UNDER THE LIABILITY METHOD, TAX RATES ARE APPLIED TO CUMULATIVE TEMPORARY DIFFERENCES BASED ON HOW THEY ARE EXPECTED TO AFFECT THE TAX RETURN. DEFERRED TAX ASSETS AND LIABILITIES ARE ADJUSTED FOR TAX RATE CHANGES. UNDER THE GUIDANCE, INCOME TAX BENEFITS ARE RECOGNIZED AND MEASURED BASED UPON A TWO-STEP MODEL: 1) A TAX POSITION MUST BE MORE LIKELY THAN NOT TO BE SUSTAINED BASED SOLELY ON ITS TECHNICAL MERITS IN ORDER TO BE RECOGNIZED, AND 2) THE BENEFIT IS MEASURED AS THE LARGEST DOLLAR AMOUNT OF THAT POSITION THAT IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON SETTLEMENT. THE DIFFERENCE BETWEEN THE BENEFIT RECOGNIZED FOR A POSITION IN ACCORDANCE WITH THIS MODEL FOR FINANCIAL STATEMENTS AND THE TAX BENEFIT CLAIMED ON A TAX RETURN IS REFERRED TO AS AN UNRECOGNIZED TAX BENEFIT. BFH MEMBER ACCRUES INCOME TAX-RELATED INTEREST AND PENALTIES, IF APPLICABLE, WITHIN PROVISION FOR INCOME TAXES. NO DEFERRED TAX ASSETS, INCLUDING NET OPERATING LOSS CARRYFORWARDS, OR LIABILITIES HAVE BEEN RECOGNIZED AS BFH MEMBER DOES NOT HAVE FUTURE TAX CONSEQUENCES ATTRIBUTABLE TO DIFFERENCES BETWEEN THE FINANCIAL STATEMENT CARRYING AMOUNT OF EXISTING ASSETS AND LIABILITIES AND THEIR RESPECTIVE TAX BASES. NO PROVISION FOR INCOME TAXES HAS BEEN RECOGNIZED FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023. BFH MEMBER HAS NOT TAKEN ANY TAX POSITIONS THAT WOULD CREATE UNRECOGNIZED TAX BENEFITS. FOR INCOME TAX PURPOSES, THE ORGANIZATION AND AFFILIATES REPORT ON A CALENDAR YEAR-END BASIS. INCOME TAX RETURNS FILED BY THE ORGANIZATION AND AFFILIATES ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2021 REMAIN OPEN FOR THE ORGANIZATION AND AFFILIATES. 0 0 0 0 0 0 0 0 0 CHINA BOAK TERRELL OUTGOING CEO 181481 0 0 0 0 0 0 0 23089 0 204570 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE ORGAINIZATION DELEGATES THE ROLE OF INTERIM EXECUTIVE DIRECTOR TO ELAINE DIPIETRO THROUGH BLOOMING VENTURES LLC. FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND TREASURER REVIEW THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IT IS SHARE WITH THE BOARD ONCE THEY BECOME MEMBERS. CONFLICTS ARE REVIEWED AS THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE COMPENSATION OF THE CEO. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE: ACTIMPACT.ORG FOR A WEALTHY BALTIMORE LLC PO BOX 50160 BALTIMORE MD 21211 871374177 REAL ESTATE MD BALTIMORE FOOD HUB INC BALTIMORE FOOD HUB PO BOX 50160 NO 5 BALTIMORE MD 21211 463459055 PROPERTY DEVELOPMENT AND MANAGEMENT MD 501(C)(3) LINE 7 AMERICAN COMMUNITIES TRUST INC 1 HEALTHY EAST BALTIMORE LLC PO BOX 50160 BALTIMORE MD 21211 820793193 TO FACILITATE INVESTMENT IN THE BALTIMORE FOOD HUB MD N/A RELATED 0 0 BFH LL LLC PO BOX 50160 BALTIMORE MD 21211 352637866 LENDING MD AMERICAN COMMUNITIES TRUST RELATED -100956 7873536 0 1 0.95000 BFH MEMBER LLC PO BOX 50160 BALTIMORE MD 21211 611900290 REAL ESTATE MD BALTIMORE FOOD HUB INC C -3756 500 1.00000 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 HEALTHY EAST BALTIMORE LLC D 389673 COST BALTIMORE FOOD HUB INC E 72695 COST