Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

The Company leases commercial office space from BCG Chantilly, LLC (BCC), an entity in which Mr. Bowman, Mr. Bruen and Mr. Hickey collectively own a 63.6% interest. As of December 31, 2023 and 2022, there were no amounts due to or receivables due from BCC. Rent expense for years ended December 31, 2023 and 2022 was $0.1 million and $0.1 million, respectively.

Bowman Lansdowne Development, LLC (BLD) is an entity in which Mr. Bowman has an ownership interest. On December 31, 2023 and 2022, the Company’s notes receivable included $0.5 million and $0.5 million, respectively, from BLD, with a maturity date of December 31, 2025.

Lansdowne Development Group, LLC (LDG) is an entity in which BLD has a minority ownership interest. On December 31, 2023 and 2022, our accounts receivable included $0.1 million and $0.1 million, respectively, due from LDG. On December 31, 2023 and 2022, notes receivable included $0.4 million and $0.4 million, respectively, from LDG, with a maturity date of December 31, 2025.

Bowman Realty Investments 2010, LLC (BR10) is an entity in which Mr. Bowman has an ownership interest. On December 31, 2023 and 2022, the Company’s notes receivable included $0.2 million and $0.2 million, respectively, from BR10, with a maturity date of December 31, 2025.

Alwington Farm Developers, LLC (AFD) is an entity in which BR10 has a minority ownership interest. On December 31, 2023 and 2022, notes receivable included $1.2 million and $1.2 million, respectively, from AFD, with a maturity date of December 31, 2024.

MREC Shenandoah VA, LLC (“MREC Shenandoah”) is an entity in which Lake Frederick Holdings, LLC (“Lake Frederick Holdings”) owns a 92% interest and Shenandoah Station Partners LLC, an entity owned in part by Bowman Lansdowne and in part by Bowman Realty 2013, owns an 8% interest. Mr. Bowman owns a 100% interest in, and is the manager of, Lake Frederick Holdings. Mr. Bowman is the sole member of Bowman Realty 2013. Since 2020, the Company has provided engineering services to MREC Shenandoah in exchange for cash payments. During the years ended December 31, 2023 and 2022, the Company invoiced $0.2 million and $0.7 million, respectively, and received payments of $0.2 million and $0.3 million, respectively.

During the years ended December 31, 2023 and 2022, the Company provided administrative, accounting and project management services to certain of the related party entities. The cost of these services was $0.1 million and $0.1 million, respectively. These entities were billed $0.1 million and $0.1 million, respectively.

Gregory Bowman, the son of Mr. Bowman, is a full-time employee of the Company. Gregory Bowman was paid $0.2 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively.

Bowman Realty Investments 2013 LLC (BR13) is an entity in which Mr. Bowman has an ownership interest.

On December 31, 2023 and 2022, the Company was due $48,000 and $0.1 million, respectively, from shareholders under the terms of stock subscription notes receivable.

On December 31, 2023 and 2022, the Company owed $0.1 million and $0.2 million, respectively to the estate of a retired shareholder and former director in connection with a 2015 acquisition.

In August of 2022, the Company agreed to reimburse Mr. Bowman at a fixed hourly rate for the business use of an aircraft owned by Sunrise Asset Management, a company owned 100% by Mr. Bowman. The Company paid $0.4 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively.