2025-08-15T11:33:43-05:00 2024-09-30 992277914 EAG NEW ENGLAND LLC 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2023-10-01 042400219 ARCHITECTURAL HERITAGE FOUNDATION INC ARCH 6175237210 525 WESTERN AVE 8 BRIGHTON MA 02135 SEAN MCDONNELL PRESIDENT 6175237210 2025-08-15 1 0 EUGENE BORGONZI P01269879 6172276161 2025-08-14 2023 2025-03-06 01:10:19Z SEAN MCDONNELL 525 WESTERN AVE 8 BRIGHTON MA 02135 10344942 0 X WWW.AHFBOSTON.COM X 1966 MA ARCHITECTURAL HERITAGE FOUNDATION, INC ("AHF") WAS ORGANIZED UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS ON AUGUST 17, 1966 FOR THE PURPOSE OF PRESERVING BUILDINGS HAVING HISTORICALLY SIGNIFICANT OR NOTABLE BUILDING OR LANDSCAPE ARCHITECTURE, IN AN ECONOMICALLY VIABLE FASHION. 4 3 15 0 0 0 167621 1880379 778914 789271 786835 983446 0 0 1733370 3653096 107 2750 0 0 992953 1102523 0 0 10366 1671875 1584969 2664935 2690242 -931565 962854 27031850 28015756 5717159 4437873 21314691 23577883 X AHF'S PRIMARY MISSION IS PRESERVING BUILDINGS OF HISTORICAL SIGNIFICANCE, CONSERVING AND PROTECTING NOTABLE BUILDINGS, LANDSCAPE ARCHITECTURE OR OTHER OPEN SPACES OF ENVIRONMENTAL OR HISTORICAL SIGNIFICANCE AND IDENTIFYING APPROPRIATE USES FOR SUCH PROPERTIES. IT'S MISSION IS TO PRESERVE AND REVITALIZE HISTORIC STRUCTURES AND SPACES, TRANSFORMING SUCH SITES TO INVIGORATE THE COMMUNITIES IN WHICH THEY RESIDE. IT SEEKS TO INSPIRE COMMUNITIES AND STRENGTHEN CULTURAL, ENVIRONMENTAL AND ECONOMIC VITALITY. 0 0 1095263 2750 324466 RESTORATION AND REDEVELOPMENT OF HISTORIC AND ARCHITECTURALLY SIGNIFICANT PROPERTIES THROUGHOUT MASSACHUSETTS, INCLUDING BUILDINGS IN BOSTON, WORCESTER, LAWRENCE AND OTHER CITIES. 1045622 0 464805 PROVIDE HISTORIC MANAGEMENT SERVICES TO HISTORIC AND ARCHITECTURALLY SIGNIFICANT PROPERTIES INCLUDING MANAGE RENTAL OPERATIONS. 2140885 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 1 0 1 14 0 15 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 MA X SEAN MCDONNELL PRESIDENT 6175237210 525 WESTERN AVE STE 8 BRIGHTON MA 02135 SEAN MCDONNELL PRESIDENT/DIRECTOR 40.00 2.00 X X 303686 0 67416 LISA M CAMPOLI CHAIR/DIRECTOR 1.00 1.00 X X 0 0 0 SAMUEL L RICHARDSON CLERK/DIRECTOR 1.00 1.00 X X 0 0 0 LORYN SHEFFNER TREASURER (APPT. 8/14/24)/DIRECTOR 1.00 1.00 X X 0 0 0 MARIANA S WEBB TREASURER (UNTIL 8/14/24) 1.00 0.50 X 0 0 0 KARA ANDERSON SENIOR PROJECT MANAGER 35.00 0.00 X 118823 0 51219 JACOB SANDERS PROJECT EXECUTIVE 40.00 0.00 X 140885 0 8470 STEPHANIE HANSEN SPEEDWAY GENERAL MANAGER 40.00 0.00 X 125255 0 15124 SANDRA CAPPADONA OFFICE MANAGER 31.00 0.00 X 102020 0 37410 790669 0 179639 5 0 1 0 CLIFTONLARSONALLEN LLP PO BOX 829709 PHILADELPHIA PA 191829709 FINANCIAL, PROJECT & ACCOUNTING SERVICES 447677 DBVW ARCHITECTS 111 CHESTNUT STREET PROVIDENCE RI 02903 ARCHITECTURAL SERVICES 115069 2 1743000 137379 1743000 1880379 PROGRAM-RELATED RENT 532000 420249 420249 INTEREST ON PROGRAM-RELATED NOTES 900099 273872 273872 SERVICE FEE INCOME 900099 50594 50594 PROPERTY MGMT INCOME 900099 44556 44556 789271 428705 428705 7246587 6691846 554741 554741 554741 3653096 789271 0 983446 X 2750 2750 368726 331854 27654 9218 587515 567456 20059 17796 17188 608 46620 45028 1592 81866 81601 139 126 33465 5460 28005 46920 46920 65875 65875 551223 321836 229387 21129 21129 67632 58424 9040 168 424527 401535 22377 615 1167 1064 100 3 6574 6238 332 4 277476 214423 63053 25756 19991 5610 155 38936 28673 10263 DUES & SUBSCRIPTIONS 12613 11189 1386 38 PAYROLL PROCESSING & 40 11676 5046 6591 39 2690242 2140885 538991 10366 27 77 235634 167909 38784 65512 5783278 5778006 66938 68784 70033 40387 47640 29646 11482827 11670958 9376722 10234864 27031850 28015756 172244 217159 383072 412801 5161843 3807913 5717159 4437873 X 21314691 23577883 21314691 23577883 27031850 28015756 962854 1300338 0 X X 0 1 X 1 0 X 30339 224493 725000 167621 1880379 3027832 30339 224493 725000 167621 1880379 3027832 1745394 1282438 514015 622628 875623 721332 428705 3162303 6190135 3389521 0.20720 0.21460 X THE ORGANIZATION DID NOT MEET THE 33 1/3% PUBLIC SUPPORT CALCULATION IN SCH A. PART II LINE 14, HOWEVER IT STILL MEETS THE 10% FACTS AND CIRCUMSTANCES TEST ON LINE 17. THE PUBLIC SUPPORT PERCENTAGE FOR THE CURRENT AND PRIOR YEARS (2023 AND 2022 TAX YEARS) IS WELL ABOVE 10%, AT 20.72% AND 21.46%, RESPECTIVELY. ARCHITECTURAL HERITAGE FOUNDATION'S (AHF) PUBLIC SUPPORT IS DIRECTLY RELATED TO ITS CORE MISSION ACTIVITY, WHICH IS TO REHABILITATE AND REDEVELOP HISTORIC PROPERTY IN MASSACHUSETTS. AHF'S MANAGEMENT AND BOARD HAVE ACTIVELY PARTICIPATED IN CARRYING OUT THE ORGANIZATION'S MISSION. SINCE INCEPTION IN 1966, ALL PERSONS HAVE EXTENSIVE EXPERIENCE WITHIN THE PARTICULAR SECTORS OF HISTORIC REAL ESTATE REDEVELOPMENT, COMMUNITY SUPPORT AND NON-PROFIT MATTERS THAT AHF ADDRESSES. FOR REHABILITATION ACTIVITY, AHF RECEIVES BOTH PRIVATE AND GOVERNMENTAL FUNDING (NOTABLY FROM THE CITY OF BOSTON AND SEVERAL MASSACHUSETTS STATE AGENCIES AND DEPARTMENTS) THAT IS CRITICAL TO CARRYING OUT ITS MISSION-BASED ACTIVITY. IN ADDITION, PUBLIC SUPPORT (FROM INDIVIDUALS, CORPORATIONS, OR OTHER NON-GOVERNMENTAL PARTIES) IS FREQUENTLY PAID IN THE FORM OF CAPITAL CONTRIBUTIONS TO AHF'S NUMEROUS PROGRAM-RELATED INVESTMENTS (PRI'S) AS OPPOSED TO DIRECT SUPPORT TO AHF. THE OWNERSHIP INTERESTS ARE PURSUANT TO AHF'S WORK WITH THE FEDERAL AND STATE HISTORIC TAX COMMISSIONS TO SECURE CERTIFICATIONS FOR ITS PROJECTS THAT PROVIDE TAX CREDITS TO THESE PROJECTS. AHF'S HISTORIC REHABILITATION PROJECTS TAKE SEVERAL YEARS TO COMPLETE, AND DURING THE COVID-IMPACTED MARKET FROM 2020 THROUGH 2022, IT TOOK A LONGER PERIOD OF TIME TO SUPPORT DEVELOPMENT PLANNING, AND OPERATING AND LEASING STABILIZATION FOR THE PROJECTS UNDERWAY SINCE 2019. IT HAS NOT STARTED NEW HISTORIC REDEVELOPMENT PROJECTS RECENTLY, WHICH TYPICALLY GENERATE SUBSTANTIAL GOVERNMENTAL SUPPORT. IN ADDITION, A COMPLEX PROJECT IN ITS PLANNING STAGES IN DOWNTOWN WORCESTER, MA, HAS REQUIRED LONGER TIME TO PLAN, RESTRUCTURE AND REHABILITATE, SO FUNDING WILL OCCUR SEVERAL YEARS IN THE FUTURE. AHF CURRENTLY CONTINUES TO WORK WITH BOSTON, WORCESTER, AND MASSACHUSETTS GOVERNMENTAL BRANCHES IN FULFILLING ITS OBJECTIVES TO RESTORE HISTORIC PROPERTY THAT SERVES TO IMPROVE THE COMMUNITIES IN WHICH ITS RESTORATIONS OCCUR. IT ANTICIPATES RECEIVING MORE PUBLIC SUPPORT AGAIN IN THE NEXT FEW YEARS TO INCREASE THE PUBLIC SUPPORT COMPUTATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 70033 40387 29646 29646 INVESTMENT IN HISTORIC SPEEDWAY LLC 2952861 C INVESTMENT IN WORCESTER MEMORIAL AUDITORIUM 1618873 C INVESTMENT IN RODMAN LANDMARK 713640 C INVESTMENT IN SPEEDWAY LAND LLC 2041246 C INVESTMENT IN HISTORIC SPEEDWAY MM LLC 2908244 C 10234864 DEPOSITS 129007 LINE OF CREDIT BORROWING 3678906 3807913 X PART X, LINE 2: ARCHITECTURAL HERITAGE FOUNDATION, INC. ("AHF") AND ITS RELATED ENTITIES ARE SUBJECT TO THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, AS IT RELATES TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT HAS ASSESSED ITS TAX POSITIONS TAKEN AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OF AN ASSET OR LIABILITY OR DISCLOSURE AS OF SEPTEMBER 30, 2024. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 SEAN MCDONNELL PRESIDENT/DIRECTOR 302498 0 0 0 1188 0 17796 0 49620 0 371102 0 0 0 KARA ANDERSON SENIOR PROJECT MANAGER 118701 0 0 0 122 0 5928 0 45291 0 170042 0 0 0 PART I, LINE 1A GYM MEMBERSHIP FEES SEAN MCDONNELL FAMILY MEMBER OF CURRENT OFFICER, MARIANA WEBB 368726 COMPENSATION AND BENEFITS 0 X STATE HISTORIC TAX CREDIT CERTIFICATE 1 1743000 FMV OF TAX CREDIT 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MARIANA WEBB AND SEAN MCDONNELL HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B COMPANY FINANCE PERSONNEL AND THE PRESIDENT WORK WITH THE TAX ACCOUNTANTS TO PREPARE A DRAFT OF THE FORM 990. ONCE SATISFIED WITH THE DRAFT RETURN, IT IS CIRCULATED TO THE BOARD FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY CHECKLIST IS COMPLETED ANNUALLY BY ALL THE BOARD MEMBERS. IT IS REVIEWED BY MANAGEMENT AND STAFF AND FOLLOW-UP, IF ANY, IS ADDRESSED AS NEEDED. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS IN PLACE A BOARD-APPROVED POLICY GOVERNING EXECUTIVE COMPENSATION. THE PRESIDENT'S COMPENSATION IS REVIEWED PERIODICALLY BY A COMMITTEE OF INDEPENDENT BOARD MEMBERS AND THE PROCESS OF DETERMINING THE COMPENSATION INCLUDES SOME OR ALL OF THE FOLLOWING ACIVITY: ENGAGING IN OUTSIDE CONSULTANT TO ASSIST THE PERSONNEL COMMITTEE OF THE BOARD WITH REVIEW OF COMPENSATION, USE OF PUBLICALLY AVAILABLE DATA OF COMPARABLE ORGANIZATIONS AND COMPARABLE POSITIONS, REVIEWED OF PUBLISHED COMPENSATION STUDIES, AND REVIEW OF ANNUAL PERFORMANCE MEASURES. A WRITTEN REPORT IS REVIEWED WITH THE PRESIDENT AND THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G OTHER CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 302,820. MANAGEMENT AND GENERAL EXPENSES 172,138. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 474,958. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 19,016. MANAGEMENT AND GENERAL EXPENSES 57,249. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 76,265. FORM 990, PART XII, LINE 2C OVERSIGHT OF AUDIT & SELECTION OF INDEPENDENT ACCOUNTANT THE BOARD APPROVES SELECTION OF THE INDEPENDENT ACCOUNTANT, AND ALONG WITH MANAGEMENT, ASSUMES RESPONSIBILITY FOR OVERSIGHT. FORM 990, PART VI, SECTION B, LINE 16B JOINT VENTURE POLICY MANAGEMENT AND BOARD OF THE ORGANIZATION HAVE A DRAFT POLICY WRITTEN AND CONTINUE TO DISCUSS ISSUES SURROUNDING JOINT VENTURE PARTICIPATION WITH A NON-PROFIT, WITH REFERENCE TO BEST-PRACTICE, WRITTEN POLICIES AND DISCUSSIONS WITH LEGAL COUNSEL. IT INTENDS TO COMPLETE FULL IMPLEMENTATION OF THE WRITTEN POLICY PERTAINING TO JOINT VENTURE ARRANGEMENTS. HOWEVER, IN THE INTERIM, WHERE HISTORIC REAL ESTATE DEVELOPMENT CONDUCTED BY THE ORGANIZATION RELIES ON TAX INCENTIVES PROVIDED BY THE IRC, AND WHERE LEVERAGE PROVIDED BY FOR-PROFIT PARTICIPATION IN SUCH REAL ESTATE RE-DEVELOPMENT IS CRITICAL TO SUCCESS OF THE ORGANIZATION'S MISSION-BASED ACTIVITY, IT IS CAREFULLY CONSIDERING DOCUMENTS AND AGREEMENTS OF EACH POTENTIAL JOINT VENTURE TO INDIVIDUALLY ADDRESS AHF'S NON-PROFIT CONCERNS AS WELL AS A SPECIFIC PROJECT'S NEEDS. 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