Overview
What is Union Station Redevelopment Corporation?
Union Station Redevelopment Corporation (USRC) is a Washington, D.C.-based nonprofit organization, with an address at 750 First Street NE, 1010. Their primary mission, overseen by the Board of Directors, involves managing and preserving the renovated and redeveloped facilities of Union Station in Washington, D.C. This includes the management of development leases, garage leases, and ensuring the proper maintenance of the station's unique historical features. USRC is also responsible for overseeing and managing all capital improvements for the garage, as well as protecting the federal government's interest in the property. This charitable organization, with a workforce of eight employees, was reclassified as a tax-exempt organization under IRC Section 501(c)(3) on July 22, 2004.
Official website here: www.usrcdc.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 80%, Three-Star out of Four Star rating.
Union Station Redevelopment Corporation has received an 80% rating from Charity Navigator, indicating a solid level of accountability and financial health. This score is derived entirely from the organization's performance in financial management, showcasing a strong commitment to transparency and responsible practices.
The organization has excelled in various areas, including having a fully independent board and no material diversion of assets. Additionally, the presence of essential policies such as conflict of interest and whistleblower protections highlights a robust governance structure. Program expenses make up a significant portion of their budget, reflecting a focus on mission-driven activities.
While the overall rating is commendable, it is important to note that the score is based solely on accountability and finance metrics. There may be other factors, such as program effectiveness or community impact, that are not captured in this rating, which could provide a more comprehensive view of the organization's performance.
This AI summary has been generated from information found on Charity Navigator.
Is Union Station Redevelopment Corporation legitimate?
Union Station Redevelopment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Union Station Redevelopment Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $554,172
Professional Fundraising Fees: $0
Other Salaries and Wages: $418,407
For more financial information, click here
Official website here: www.usrcdc.com
What is the mission statement of Union Station Redevelopment Corporation?
The Union Station Redevelopment Corporation (USRC) is entrusted with the management of renovated and redeveloped facilities at a major station complex. As directed by its board, the corporation's responsibilities encompass managing lease agreements, overseeing garage leases, ensuring proper maintenance of the historical features, supervising all capital improvements for the garage, and safeguarding the federal government's interest in the property. In essence, USRC plays a crucial role in maintaining the station's overall condition and functionality.
Official website here: www.usrcdc.com
Who is the CEO of Union Station Redevelopment Corporation?
Doug Carr is the President And Ceo (Beg 08/2022) of Union Station Redevelopment Corporation. The CEO's salary of Union Station Redevelopment Corporation is $0 and their total compensation is $0.
Official website here: www.usrcdc.com
What is the revenue of Union Station Redevelopment Corporation?
Union Station Redevelopment Corporation's revenue in 2022 was $13,205,501.
Official website here: www.usrcdc.com
Who are the executives of Union Station Redevelopment Corporation and what are their salaries?
The average compensation at Union Station Redevelopment Corporation during 2022 was $121,572. There are 8 employees and 6 volunteers at Union Station Redevelopment Corporation.
Here are 12 key members and their salaries (Union Station Redevelopment Corporation's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $326,036
- Related: $0
- Other: $13,337
- Compensation: $190,416
- Related: $0
- Other: $24,004
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $123,646
- Related: $0
- Other: $17,378
- Compensation: $105,250
- Related: $0
- Other: $12,165
- Compensation: $100,247
- Related: $0
- Other: $5,293
Official website here: www.usrcdc.com
Where can I find the form 990 for Union Station Redevelopment Corporation?
Union Station Redevelopment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.usrcdc.com
Learn more at the official website: www.usrcdc.com
Mission Statement of Union Station Redevelopment Corporation
Union Station Redevelopment Corporation (USRC) is a dedicated organization tasked with the management of the renovated and redeveloped facilities of Washington, D.C.'s historic Union Station. As mandated by its board of directors, USRC's oversight responsibilities encompass various aspects of the station complex.
First and foremost, USRC manages the station development lease. This role involves ensuring that the station is maintained to the highest standard, providing a welcoming and functional space for visitors and commuters alike. USRC's responsibilities extend to the garage lease as well. Here, the organization guarantees proper maintenance and ensures the smooth operation of the garage, catering to the transportation needs of the station's patrons.
Moreover, USRC is committed to preserving Union Station's unique historical features. The organization understands the significance of these characteristics and works diligently to protect and maintain them, adding to the station's historical charm and appeal.
Additionally, USRC is responsible for overseeing and managing all capital improvements for the garage. This includes planning, implementation, and execution of projects aimed at enhancing the garage's infrastructure and overall functionality. The organization's primary objective is to protect the federal government's interest in the property, maintaining its value and ensuring its long-term sustainability.
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Impact
October, 2024
The Union Station Redevelopment Corporation (USRC) plays a vital role in the management and revitalization of Washington, DC's Union Station, a historic transportation hub. By overseeing the redevelopment and ongoing maintenance of the station complex, USRC ensures the preservation of its unique historical features, which not only honors the station's architectural significance but also enhances the overall visitor experience.
USRC is responsible for managing various leases, including the station development lease and the garage lease. This management is crucial for maintaining the operational efficiency and financial sustainability of Union Station. By facilitating capital improvements, USRC invests in the infrastructure that supports both commuter and retail functions, boosting economic activity in the area.
Additionally, USRC acts as a protector of federal interests in the property, ensuring that the government's needs and expectations are met while also fostering an environment conducive to public benefit. Through its various oversight responsibilities, USRC enhances the station's role as a central hub for transportation, tourism, and commerce, thus contributing significantly to the vibrancy and accessibility of Washington, DC.
This information is meant to be a general summary of Union Station Redevelopment Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $124,483
- Program Service Revenue: $12,865,880
- Gross Receipts: $13,205,501
Assets and Liabilities:
- Total Assets: $154,907,795
- Total Liabilities: $23,226,991
- Net Assets: $131,680,804
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
USI SHOPS/OFFICE RENT
Revenue
$6,998,165
PARKING GARAGE RENT
Revenue
$4,607,701
USI LEASEHOLD IMPROVEMENTS
Revenue
$1,257,671
USI TOUR REVENUE
Revenue
$2,343
Organization Details
Founding Year
1983
Phone
(202) 222-0271Principal Officer
Doug Carr
Main Address
750 FIRST STREET NE 1010, WASHINGTON, DC, 20002
Website
www.usrcdc.comNTEE Category
Code: W20 - Public benefit
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