AEW
Legal name: Aerial Center Realty Corp Co Aew Capital Management Lp
Nonprofit profile at a glance
- EIN
- 454867800
- IRS 990 coverage
- 2014–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Boston, MA, United States
- Phone
- +1 617 261 9000
- Rating confidence
- Limited
- Sector
- Real Estate Associations
Reported finances
- Revenue
- $4,284,768
- Expenses
- $1,991,562
- Assets
- $56,750,346
- Liabilities
- $726,076
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- ANNIE CHAO (VICE PRESIDENT, TREASURER, CFO, & DIRECTOR)
- BRYAN FUJITA (PRESIDENT & DIRECTOR)
- CLAIRE SU KYUNG MAGALLANES NO (VICE PRESIDENT, SECRETARY, & DIRECTOR)
- CARRIE A BELLERBY (VICE PRESIDENT)
- JONATHAN E MARTIN (VICE PRESIDENT)
- LAUREN O'NEIL (VICE PRESIDENT)
People named in this filing
- ANNIE CHAO (VICE PRESIDENT, TREASURER, CFO, & DIRECTOR)
- BRYAN FUJITA (PRESIDENT & DIRECTOR)
- CLAIRE SU KYUNG MAGALLANES NO (VICE PRESIDENT, SECRETARY, & DIRECTOR)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Mission is to be its clients' most trusted and effective advisor. We take our fiduciary responsibility seriously, and manage assets with discipline and attention to risk management.
Sara Cassidy is a Managing Director at AEW and Head of Portfolio Management for the firm’s Private Equity Group. In this capacity, she is responsible for the oversight of all portfolio management activities across strategies and separate accounts. Sara is also a Senior Portfolio Manager for the firm’s open-end, core property strategy, where she is responsible for overseeing all aspects of the strategy's investments and operations as well as working closely with investor relations on marketing and providing support to investors. She is also a member of the firm’s Investment and Risk Management Committees. Prior to joining AEW in 2018, Sara worked with J.P. Morgan Asset Management since 2006,.
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 100
- Accountability: 82
- Sustainability: 93
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 53.5%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 28.5; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 84; 84th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 18.2% per year; rating input score 100; 83rd percentile among comparable filings
- Revenue growth: 9.5% per year; rating input score 100; 67th percentile among comparable filings
- Asset growth: 5.6% per year; rating input score 100; 38th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 4 operating locations identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
- Programs: Filed program service accomplishments
- Leadership: top reported pay $0 · 13 people listed
- Highest-paid contractors: 1 contractor listed · $527K reported
- Consistency: 10 of 10 current checks pass
- Schedules: 3 filed schedules
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Related organizations: 13 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 3 of 7 not reported.