Civic Intelligence

Student Agencies Properties Inc

990 • Fiscal year 2017 • EIN 15-0461430

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 26, 2018

409 College AvenueIthaca, NY 14850

(607) 272-2000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

90th percentile

1.00x

Higher debt load relative to assets than 90% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

64th percentile

3.11x

Higher debt load relative to revenue than 64% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Net Margin

35th percentile

0.0%

Higher net margin than 35% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

75th percentile

$185,455

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 12.3% of source-year revenue.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Asset Growth

15th percentile

-5.2%

Faster asset growth than 15% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

77th percentile

20%

Faster revenue growth than 77% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$4,701,973

Down $256,654 (-5.2%) from 2016

Net Assets

Flat

$999

Flat from 2016

Liabilities

Down

$4,700,974

Down $256,654 (-5.2%) from 2016

Revenue

Up

$1,510,253

Up $249,041 (+20%) from 2016

Expenses

Up

$1,510,253

Up $249,040 (+20%) from 2016

Net Income

Up

$0

Up $1 (+100%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $1,775,506Liabilities 2010: $1,774,506Net Assets 2010: $1,0002010Assets 2011: $1,676,643Liabilities 2011: $1,675,644Net Assets 2011: $9992011Assets 2012: $1,735,358Liabilities 2012: $1,734,359Net Assets 2012: $9992012Assets 2013: $1,885,714Liabilities 2013: $1,884,715Net Assets 2013: $9992013Assets 2014: $2,074,798Liabilities 2014: $2,073,799Net Assets 2014: $9992014Assets 2015: $2,046,787Liabilities 2015: $2,045,788Net Assets 2015: $9992015Assets 2016: $4,958,627Liabilities 2016: $4,957,628Net Assets 2016: $9992016Assets 2017: $4,701,973Liabilities 2017: $4,700,974Net Assets 2017: $9992017Assets 2018: $4,771,130Liabilities 2018: $4,770,131Net Assets 2018: $9992018Assets 2019: $4,987,259Liabilities 2019: $4,986,260Net Assets 2019: $9992019Assets 2020: $12,824,393Liabilities 2020: $12,823,394Net Assets 2020: $9992020Assets 2021: $25,272,184Liabilities 2021: $25,271,185Net Assets 2021: $9992021Assets 2022: $25,132,896Liabilities 2022: $25,131,897Net Assets 2022: $9992022Assets 2024: $24,276,364Liabilities 2024: $24,275,365Net Assets 2024: $9992024

Highlighted filing

2017

Assets$4,701,973
Liabilities$4,700,974
Net Assets$999

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,308,3482010Expenses 2011: $1,336,7202011Expenses 2012: $1,368,1192012Revenue 2013: $1,252,143Expenses 2013: $1,252,142Net Income 2013: $12013Revenue 2014: $1,225,418Expenses 2014: $1,225,418Net Income 2014: $02014Revenue 2015: $1,205,117Expenses 2015: $1,205,118Net Income 2015: -$12015Revenue 2016: $1,261,212Expenses 2016: $1,261,213Net Income 2016: -$12016Revenue 2017: $1,510,253Expenses 2017: $1,510,253Net Income 2017: $02017Revenue 2018: $1,507,001Expenses 2018: $1,507,001Net Income 2018: $02018Revenue 2019: $1,522,727Expenses 2019: $1,522,728Net Income 2019: -$12019Revenue 2020: $1,032,983Expenses 2020: $1,032,981Net Income 2020: $22020Revenue 2021: $1,493,174Expenses 2021: $1,493,173Net Income 2021: $12021Revenue 2022: $2,884,671Expenses 2022: $2,884,672Net Income 2022: -$12022Revenue 2024: $3,521,865Expenses 2024: $3,521,865Net Income 2024: $02024

Highlighted filing

2017

Revenue$1,510,253
Expenses$1,510,253
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 26, 2018
Return Version
2017v2.3
Gross Receipts
$1,510,253
Mission and Program Overview

Mission

Holding title to property and leasing it as part of the functionally related mission of a 501(c)3 related entity

Holding title to property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,317,194$4,188,302▼ $128,892
Cash and Non-Interest-Bearing Accounts$135,859$148,218▲ $12,359
Savings and Temporary Cash Investments$206,291$131,001▼ $75,290
Accounts Receivable$188,474$118,943▼ $69,531
Prepaid Expenses and Deferred Charges$63,567$68,154▲ $4,587
Total Assets$4,958,627$4,701,973▼ $256,654
Other Assets Total$47,242$47,355▲ $113
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,252,970$2,655,649▼ $597,321
Other Liabilities$1,647,481$2,021,408▲ $373,927
Accounts Payable and Accrued Expenses$57,177$23,917▼ $33,260
Total Liabilities$4,957,628$4,700,974▼ $256,654
Net Assets / Fund Balance
Unrestricted Net Assets$999$999→ $0
Total Net Assets Fund Balance$999$999→ $0
Total Liabilities and Net Assets / Fund Balance$4,958,627$4,701,973▼ $256,654

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,124,343$2,755,430$6,879,773
Land$63,959-$63,959
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Luke BushnerPresidentPT$20,819$20,819

Board Members and Trustees

NameTitle
Joshua EisenbergChair
Sharon DaukVice Chair
Adrian MadlandDirector
David LesserDirector
Greg ThomasDirector
Madeline LieberDirector
Michael KarangelenDirector
Kyle KarnesSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,510,122
Investment Income
$131
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,510,253
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$201,821
Interest---$125,276
All Other Expenses---$115,071
Fees for Services Management---$95,143
Other Expenses---$91,312
Insurance---$78,944
Fees for Services Other---$7,867
Fees for Services Legal---$6,669
Fees for Services Accounting---$1,350
Advertising---$526
Total Functional Expenses$0$0$0$1,510,253
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Saf, Inc$1,800,379
Unearned Revenue$157,689
Customer Deposits$63,340
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

There are no other committees with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the student cfo and the governing board where questions and comments can be reviewed and answered.

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Student Agencies Properties Inc
EIN
15-0461430
Phone
6072722000
Address
409 COLLEGE AVENUE, ITHACA, NY 14850

Signing Officer

Name
Kyle Karnes
Title
CEO
Phone
6072722000
Signed
2018-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kyle Karnes
Formed
1908
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Sciarabba Walker & Co Llp
Address
410 EAST UPLAND ROAD, ITHACA, NY 14850
Preparer
David M Stinson
Phone
6072725550
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization did not change its oversight process or selection process during the tax year.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO OTHER COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE STUDENT CFO AND THE GOVERNING BOARD WHERE QUESTIONS AND COMMENTS CAN BE REVIEWED AND ANSWERED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd01
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0150461435
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0STUDENT BUSINESS EDUCATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0STUDENT AGENCIES INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0409 COLLEGE AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0ITHACA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd014850
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0STUDENT AGENCIES FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0150461439
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C) 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO OFFER CORNELL STUDENTS EXPERIENCE IN MANAGING BUSINESSES.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0PF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0409 COLLEGE AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ITHACA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd014850
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt030441
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1424574
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt295143
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt354423
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0SAI FAIR VALUE OF SIMILAR RENTS
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1SAP NET INCOME PER RETURN
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2MANAGEMENT FEES PAID TO SAI
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3LABOR PAID TO SAI
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0STUDENT AGENCIES INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1STUDENT AGENCIES FOUNDATIONS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2STUDENT AGENCIES INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3STUDENT AGENCIES INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1I
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2M
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04958627
IRS990/TotalAssetsEOYAmt04701973
IRS990/TotalAssetsGrp/BOYAmt04958627
IRS990/TotalAssetsGrp/EOYAmt04701973
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01510253
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04957628
IRS990/TotalLiabilitiesEOYAmt04700974
IRS990/TotalLiabilitiesGrp/BOYAmt04957628
IRS990/TotalLiabilitiesGrp/EOYAmt04700974
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0999
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0999
IRS990/TotalOtherCompensationAmt07072
IRS990/TotalProgramServiceExpensesAmt01510253
IRS990/TotalProgramServiceRevenueAmt01510122
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0131
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01510122
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01510253
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04958627
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04701973
IRS990/TotReportableCompRltdOrgAmt0199202
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0999
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0999
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0409 COLLEGE AVENUE
IRS990/USAddress/CityNm0ITHACA
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd014850
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KYLE KARNES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06072722000
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STUDENT AGENCIES PROPERTIES INC
ReturnHeader/Filer/BusinessNameControlTxt0STUD
ReturnHeader/Filer/EIN0150461430
ReturnHeader/Filer/PhoneNum06072722000
ReturnHeader/Filer/USAddress/AddressLine1Txt0409 COLLEGE AVENUE
ReturnHeader/Filer/USAddress/CityNm0ITHACA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014850
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00A33C264FA1FCCAC2D8BC59ED388F558F676C7BA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0134A1EF4A99EFF687FE5F9B4D3BA1E0301F40DBA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.3$24.3$0.00$3.52$3.52$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.1$25.1$0.00$2.88$2.88$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.3$25.3$0.00$1.49$1.49$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.8$12.8$0.00$1.03$1.03$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.99$4.99$0.00$1.52$1.52$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.77$4.77$0.00$1.51$1.51$0.00
2017Detailed filing. Detailed filing data is available for this year.$4.70$4.70$0.00$1.51$1.51$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.96$4.96$0.00$1.26$1.26$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.05$2.05$0.00$1.21$1.21$0.00
2014Detailed filing. Detailed filing data is available for this year.$2.07$2.07$0.00$1.23$1.23$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.89$1.88$0.00$1.25$1.25$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$1.73$0.00$1.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$1.68$0.00$1.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.78$1.77$0.00$1.31