Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2014 • EIN 23-2411680

Jul 01, 2013 to Jun 30, 2014 • Filed on May 05, 2015

3601 Powelton Ave Lower Level19104

(215) 662-1500

Siviq Scores

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

Liabilities / Assets

18th percentile

0.03x

Higher debt load relative to assets than 18% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

22nd percentile

0.11x

Higher debt load relative to revenue than 22% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

24th percentile

-1.8%

Higher net margin than 24% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

97th percentile

$1,502,599

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

26th percentile

-0.9%

Faster asset growth than 26% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$29,036,703

Down $271,323 (-0.9%) from 2013

Net Assets

Down

$28,059,591

Down $160,699 (-0.6%) from 2013

Liabilities

Down

$977,112

Down $110,624 (-10%) from 2013

Revenue

$9,167,591

No earlier filing loaded for comparison.

Expenses

Up

$9,328,290

Up $4,653,729 (+100%) from 2013

Net Income

-$160,699

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $28,124,173Liabilities 2010: $5,406,579Net Assets 2010: $22,717,5942010Assets 2011: $29,277,808Liabilities 2011: $1,579,401Net Assets 2011: $27,698,4072011Assets 2012: $25,821,260Liabilities 2012: $1,224,536Net Assets 2012: $24,596,7242012Assets 2013: $29,308,026Liabilities 2013: $1,087,736Net Assets 2013: $28,220,2902013Assets 2014: $29,036,703Liabilities 2014: $977,112Net Assets 2014: $28,059,5912014Assets 2015: $30,795,642Liabilities 2015: $1,432,523Net Assets 2015: $29,363,1192015Assets 2016: $30,230,798Liabilities 2016: $825,993Net Assets 2016: $29,404,8052016Assets 2017: $33,199,134Liabilities 2017: $947,057Net Assets 2017: $32,252,0772017Assets 2018: $27,095,937Liabilities 2018: $1,127,218Net Assets 2018: $25,968,7192018Assets 2019: $29,305,381Liabilities 2019: $830,232Net Assets 2019: $28,475,1492019Assets 2020: $25,045,725Liabilities 2020: $925,508Net Assets 2020: $24,120,2172020Assets 2021: $27,629,572Liabilities 2021: $1,572,275Net Assets 2021: $26,057,2972021Assets 2022: $29,565,241Liabilities 2022: $1,278,740Net Assets 2022: $28,286,5012022Assets 2023: $32,583,764Liabilities 2023: $1,455,945Net Assets 2023: $31,127,8192023

Highlighted filing

2014

Assets$29,036,703
Liabilities$977,112
Net Assets$28,059,591

Operations Trend

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

$15M$10M$5.0M$0-$5.0M-$10MExpenses 2010: $2,504,9652010Expenses 2011: $2,811,9612011Expenses 2012: $4,128,4832012Expenses 2013: $4,674,5612013Revenue 2014: $9,167,591Expenses 2014: $9,328,290Net Income 2014: -$160,6992014Revenue 2015: $9,107,965Expenses 2015: $7,804,437Net Income 2015: $1,303,5282015Revenue 2016: $9,889,416Expenses 2016: $9,847,730Net Income 2016: $41,6862016Revenue 2017: $10,074,148Expenses 2017: $7,226,876Net Income 2017: $2,847,2722017Revenue 2018: $1,416,670Expenses 2018: $6,814,722Net Income 2018: -$5,398,0522018Revenue 2019: $7,712,052Expenses 2019: $5,205,622Net Income 2019: $2,506,4302019Revenue 2020: $7,233,685Expenses 2020: $11,588,617Net Income 2020: -$4,354,9322020Revenue 2021: $7,526,969Expenses 2021: $5,589,889Net Income 2021: $1,937,0802021Revenue 2022: $8,151,800Expenses 2022: $5,922,596Net Income 2022: $2,229,2042022Revenue 2023: $8,169,303Expenses 2023: $5,327,985Net Income 2023: $2,841,3182023

Highlighted filing

2014

Revenue$9,167,591
Expenses$9,328,290
Net Income-$160,699
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 5, 2015
Return Version
2013v4.0
Gross Receipts
$13,211,181
Mission and Program Overview

Mission

Maximizing drexel university real estate holdings to their fullest strategic value with emphasis on serving the university community.

Acquires and improves properties of strategic importance to the future growth of drexel university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$28,220,290$28,059,591▼ $160,699
Land, Buildings, and Equipment, Net$19,915,380$20,228,952▲ $313,572
Savings and Temporary Cash Investments$7,607,138$7,338,805▼ $268,333
Prepaid Expenses and Deferred Charges$264,701$140,745▼ $123,956
Accounts Receivable$80,408$132,530▲ $52,122
Cash and Non-Interest-Bearing Accounts$1,200$1,200→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$29,308,026$29,036,703▼ $271,323
Other Assets Total$1,439,199$1,194,471▼ $244,728
Liabilities
Deferred Revenue$404,935$503,338▲ $98,403
Accounts Payable and Accrued Expenses$344,016$335,522▼ $8,494
Other Liabilities$327,777$138,252▼ $189,525
Unsecured Notes Loans Payable$11,008$0▼ $11,008
Total Liabilities$1,087,736$977,112▼ $110,624
Net Assets / Fund Balance
Total Net Assets Fund Balance$28,220,290$28,059,591▼ $160,699
Total Liabilities and Net Assets / Fund Balance$29,308,026$29,036,703▼ $271,323

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,900,771$5,214,848-
Other Land Buildings$16,003$222,209-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$9,884,523$13,292,425-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Martin J OnzikDirector, Vice PresidentFT$187,910$65,731$253,641
Carmen PiccoloProperty ManagerFT$123,330$51,897$175,227
Tigist TesfayeControllerFT$123,179$26,507$149,686

Board Members and Trustees

NameTitle
James R TuckerChairman & President
Carl DranoffDirector
John a FryDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector
Helen BowmanDirector,treasurer & Secre
Eric J OlsonFormer Treasurer & Secreta

Highest Paid Contractors

ContractorServicesLocationCompensation
Fmc Services INCCleaning Services-$895,329
Abm Engineering ServicesBuilding Services-$634,704
Grayston Construction CorporationBuilding Services-$523,858
Allied Barton Security Services LLCSecurity Services-$302,325
Premier Building Restoration INCBuilding Services-$182,752
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,953,587
Investment Income
$37,738
Other Revenue
$3,176,266
Change in Net Assets
$-160,699

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,167,591
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,043,591
Total Revenue per Audited Statements
$13,211,182
Total Revenue per Form 990
$9,167,591
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,757,626
Salaries, Compensation, and Employee Benefits$570,664
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$5,700,000--$5,700,000
Occupancy$2,206,174--$2,206,174
Depreciation Depletion$738,164--$738,164
Other Salaries and Wages$326,948--$326,948
Other Employee Benefits$140,137--$140,137
Current Officers, Directors, Trustees, and Key Employees$72,504--$72,504
Office Expenses$54,410--$54,410
Payroll Taxes$31,075--$31,075
Fees for Services Other$16,356--$16,356
Travel$2,393--$2,393
Fees for Services Legal$1,153--$1,153
Advertising$380--$380
Other Expenses$334--$334
Interest$13--$13
Total Functional Expenses$9,328,290$0$0$9,328,290

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$13,371,880
Expenses per Audited Statements$9,328,290
Total Expenses per Form 990$9,328,290
Expenses Not Reported on Form 990$4,043,590
Expenses Not Reported on Financial Statements$0
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Escrow Deposits$287,493
Payable to Affiliate$-149,241
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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 7A

The corporation shall be operated in connection with drexel university within the meaning of section 509(a)(3) of the code. The directors and officers of the corporation shall maintain a close and continuous working relationship with the officers of drexel university. There shall be eight directors of the corporation. Academic assets, inc. Shall appoint six directors; drexel university shall appoint two directors. There is one director vacancy during this fiscal year.

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

There were no subcommittees formed within the board of directors.

Form 990, Part VI, Section B, Line 11

The form 990 is submitted to the vice president of academic properties, inc. For review and signing. Form 990 is provided to each member of the board of directors of academic properties, inc. For review before it is filed with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Each year the directors must complete a conflict of interest disclosure statement.

Form 990, Part VI, Section B, Line 15

Academic properties inc. Conducts an executive compensation analysis using cel & associate, inc. To ensure that the compensation is fair and competitive. For fiscal year 2014, api used the prior study performed by cel & associate, inc. To determine compensation.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are located at the office of academic properties, inc. And made available upon request.

Filing and Contact Details

Filer

EIN
23-2411680
Phone
2156621500

Signing Officer

Name
Martin Onzik
Title
Vice President
Phone
2156621500
Signed
2015-05-05

Organization Details

Principal Officer
James R Tucker
Formed
1986
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
3
Employees
12
Volunteers
0
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The organization's governing body delegates to its related organization's audit committee of the board of trustees of drexel university to oversee the audit of the financial statements and the selection of an independent accoutant.

Form 990, Part IX, Line 21

$5,700,000 represents a transfer to a 501(c)(3) affiliate organization endowment.

Financial Statement Notes

PART X, LINE 2:

The university has been granted tax-exempt status as a nonprofit organization under section 501(c)(3) of the internal revenue code and, accordingly, files federal tax form 990 (return of organization exempt from income tax) annually. No provision for income taxes is required in the university financial statements. However, del, a for-profit subsidiary of the university does record a provision for income taxes which is immaterial to the university's consolidated financial statements. The university files u.s. Federal, state and local information returns and no returns are currently under examination. The statute of limitations on the university's u.s. Federal information returns remain open for three years following the year they are filed. The university and its affiliates do from time to time incur incidental activities that are subject to unrelated business income for which appropriate income tax returns are filed. This primarily includes income from investments held in the endowment fund for which the investment manager has reported unrelated business income on a schedule k-1 along with income from certain consulting and conference services. The financial accounting standards board ("fasb") issued accounting standards codification ("asc") 740-10, accounting for uncertainty in income taxes, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. The university does not believe its financial statements include any uncertain tax positions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental property expenses from part viii, line 6b - $4,043,590 4,043,590. Rounding 1.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental property expenses from part viii, line 6b - $4,043,590 4,043,590.

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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR,TREASURER & SECRE
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIRMAN & PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR, VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7PROPERTY MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt8CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt9FORMER TREASURER & SECRETA
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd01
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt013211181
IRS990/GrossRentsGrp/RealAmt07030175
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InterestGrp/ProgramServicesAmt013
IRS990/InterestGrp/TotalAmt013
IRS990/InvestmentIncomeGrp/ExclusionAmt037738
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt037738
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt020
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt018776741
IRS990/LandBldgEquipBasisNetGrp/BOYAmt019915380
IRS990/LandBldgEquipBasisNetGrp/EOYAmt020228952
IRS990/LandBldgEquipCostOrOtherBssAmt039005693
IRS990/LegalDomicileStateCd0PA
IRS990/LessRentalExpensesGrp/RealAmt04043590
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0MAXIMIZING DREXEL UNIVERSITY REAL ESTATE HOLDINGS TO THEIR FULLEST STRATEGIC VALUE WITH EMPHASIS ON SERVING THE UNIVERSITY COMMUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt028220290
IRS990/NetAssetsOrFundBalancesEOYAmt028059591
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt02986585
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02986585
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt02206174
IRS990/OccupancyGrp/TotalAmt02206174
IRS990/OfficeExpensesGrp/ProgramServicesAmt054410
IRS990/OfficeExpensesGrp/TotalAmt054410
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01439199
IRS990/OtherAssetsTotalGrp/EOYAmt01194471
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0140137
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0140137
IRS990/OtherExpensesGrp/Desc0PROF DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc2FINES AND PENALTIES
IRS990/OtherExpensesGrp/ProgramServicesAmt022368
IRS990/OtherExpensesGrp/ProgramServicesAmt115881
IRS990/OtherExpensesGrp/ProgramServicesAmt2334
IRS990/OtherExpensesGrp/TotalAmt022368
IRS990/OtherExpensesGrp/TotalAmt115881
IRS990/OtherExpensesGrp/TotalAmt2334
IRS990/OtherLiabilitiesGrp/BOYAmt0327777
IRS990/OtherLiabilitiesGrp/EOYAmt0138252
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0189681
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0189681
IRS990/OtherRevenueTotalAmt0189681
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0326948
IRS990/OtherSalariesAndWagesGrp/TotalAmt0326948
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt05700000
IRS990/PaymentsToAffiliatesGrp/TotalAmt05700000
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt031075
IRS990/PayrollTaxesGrp/TotalAmt031075
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0264701
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0140745
IRS990/PrincipalOfficerNm0JAMES R TUCKER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531120
IRS990/ProgramServiceRevenueGrp/Desc0CLASSROOM RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1RESIDENTIAL RENTAL
IRS990/ProgramServiceRevenueGrp/Desc2OFFICE RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03456037
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12102370
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2395180
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03456037
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12102370
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2395180
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM SPACE TO DREXEL UNIVERSITY; RENTAL OF OFFICE SPACE TO DREXEL E-LEARNING.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt05504513
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt03851217
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt027367
IRS990/PYOtherExpensesAmt04215069
IRS990/PYOtherRevenueAmt03501767
IRS990/PYProgramServiceRevenueAmt04768993
IRS990/PYRevenuesLessExpensesAmt03623566
IRS990/PYSalariesCompEmpBnftPaidAmt0459492
IRS990/PYTotalExpensesAmt04674561
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08298127
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-160699
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt02986585
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02102370
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt028220290
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt028059591
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07607138
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07338805
IRS990ScheduleA/CertificationInd0X
IRS990ScheduleA/Contribution35ControlledInd00
IRS990ScheduleA/ContributionControllerInd00
IRS990ScheduleA/ContributionFamilyInd00
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0231352630
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc002
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10DREXEL UNIVERSITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd01
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05900771
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05214848
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt011115619
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/ExpensesNotReportedAmt04043590
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09328290
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt09884523
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt013292425
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt023176948
IRS990ScheduleD/OtherExpensesIncludedAmt04043590
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt016003
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0222209
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0238212
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-149241
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1287493
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYABLE TO AFFILIATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT ESCROW DEPOSITS
IRS990ScheduleD/OtherRevenueAmt04043591
IRS990ScheduleD/RevenueNotReportedAmt04043591
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09167591
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE UNIVERSITY HAS BEEN GRANTED TAX-EXEMPT STATUS AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, FILES FEDERAL TAX FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE UNIVERSITY FINANCIAL STATEMENTS. HOWEVER, DEL, A FOR-PROFIT SUBSIDIARY OF THE UNIVERSITY DOES RECORD A PROVISION FOR INCOME TAXES WHICH IS IMMATERIAL TO THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. THE UNIVERSITY FILES U.S. FEDERAL, STATE AND LOCAL INFORMATION RETURNS AND NO RETURNS ARE CURRENTLY UNDER EXAMINATION. THE STATUTE OF LIMITATIONS ON THE UNIVERSITY'S U.S. FEDERAL INFORMATION RETURNS REMAIN OPEN FOR THREE YEARS FOLLOWING THE YEAR THEY ARE FILED. THE UNIVERSITY AND ITS AFFILIATES DO FROM TIME TO TIME INCUR INCIDENTAL ACTIVITIES THAT ARE SUBJECT TO UNRELATED BUSINESS INCOME FOR WHICH APPROPRIATE INCOME TAX RETURNS ARE FILED. THIS PRIMARILY INCLUDES INCOME FROM INVESTMENTS HELD IN THE ENDOWMENT FUND FOR WHICH THE INVESTMENT MANAGER HAS REPORTED UNRELATED BUSINESS INCOME ON A SCHEDULE K-1 ALONG WITH INCOME FROM CERTAIN CONSULTING AND CONFERENCE SERVICES. THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED ACCOUNTING STANDARDS CODIFICATION ("ASC") 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THE UNIVERSITY DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL PROPERTY EXPENSES FROM PART VIII, LINE 6B - $4,043,590 4,043,590. ROUNDING 1.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL PROPERTY EXPENSES FROM PART VIII, LINE 6B - $4,043,590 4,043,590.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt020228952
IRS990ScheduleD/TotalExpensesPerForm990Amt09328290
IRS990ScheduleD/TotalLiabilityAmt0138252
IRS990ScheduleD/TotalRevenuePerForm990Amt09167591
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt013211182
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013371880
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3187910
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt4123330
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt50

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.
2023Summary only. Only limited summary data is available for this year.$32.6$1.46$31.1$8.17$5.33$2.84
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.6$1.28$28.3$8.15$5.92$2.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.6$1.57$26.1$7.53$5.59$1.94
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.0$0.93$24.1$7.23$11.6$4.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.3$0.83$28.5$7.71$5.21$2.51
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$1.13$26.0$1.42$6.81$5.40
2017Summary only. Only limited summary data is available for this year.$33.2$0.95$32.3$10.1$7.23$2.85
2016Detailed filing. Detailed filing data is available for this year.$30.2$0.83$29.4$9.89$9.85$0.04
2015Detailed filing. Detailed filing data is available for this year.$30.8$1.43$29.4$9.11$7.80$1.30
2014Detailed filing. Detailed filing data is available for this year.$29.0$0.98$28.1$9.17$9.33$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$1.09$28.2$4.67
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.8$1.22$24.6$4.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$1.58$27.7$2.81
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.1$5.41$22.7$2.50