Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2015 • EIN 23-2411680

Jul 01, 2014 to Jun 30, 2015 • Filed on May 11, 2016

Organization ProfileN/A

View Organization Page

3601 Powelton Ave Lower LevelPhiladelphia, PA 19104

(215) 662-1500

Siviq Scores

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

Liabilities / Assets

21st percentile

0.05x

Higher debt load relative to assets than 21% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

31st percentile

0.16x

Higher debt load relative to revenue than 31% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

72nd percentile

14%

Higher net margin than 72% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

97th percentile

$1,508,906

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 16.6% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

67th percentile

6.1%

Faster asset growth than 67% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

34th percentile

-0.7%

Faster revenue growth than 34% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$30,795,642

Up $1,758,939 (+6.1%) from 2014

Net Assets

Up

$29,363,119

Up $1,303,528 (+4.6%) from 2014

Liabilities

Up

$1,432,523

Up $455,411 (+47%) from 2014

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin72nd percentile

Revenue

Down

$9,107,965

Down $59,626 (-0.7%) from 2014

Expenses

Down

$7,804,437

Down $1,523,853 (-16%) from 2014

Net Income

Up

$1,303,528

Up $1,464,227 (+911%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

2015

Assets$30,795,642
Liabilities$1,432,523
Net Assets$29,363,119
Open 2015 Filing

Operations Trend

Revenue Growth34th percentile

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

2015

Revenue$9,107,965
Expenses$7,804,437
Net Income$1,303,528
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 11, 2016
Return Version
2014v6.0
Gross Receipts
$13,260,593
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$28,059,591$29,363,119▲ $1,303,528
Land, Buildings, and Equipment, Net$20,228,952$21,188,976▲ $960,024
Savings and Temporary Cash Investments$7,338,805$8,340,104▲ $1,001,299
Prepaid Expenses and Deferred Charges$140,745$104,294▼ $36,451
Accounts Receivable$132,530$85,157▼ $47,373
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$29,036,703$30,795,642▲ $1,758,939
Other Assets Total$1,194,471$1,075,911▼ $118,560
Liabilities
Deferred Revenue$503,338$605,220▲ $101,882
Accounts Payable and Accrued Expenses$335,522$558,115▲ $222,593
Other Liabilities$138,252$269,188▲ $130,936
Total Liabilities$977,112$1,432,523▲ $455,411
Net Assets / Fund Balance
Total Net Assets Fund Balance$28,059,591$29,363,119▲ $1,303,528
Total Liabilities and Net Assets / Fund Balance$29,036,703$30,795,642▲ $1,758,939

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,530,250$5,585,369-
Other Land Buildings$14,305$223,907-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$11,216,766$13,994,314-
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Martin J OnzikDirector & Vice PresidentFT$193,547$47,666$241,213
Tigist TesfayeControllerFT$126,264$25,261$151,525
Carmen PiccoloProperty ManagerFT$126,420$20,284$146,704
Melissa W BrownSecretary--$135,700$135,700

Board Members and Trustees

NameTitle
John a FryDirector & Chairman
James R TuckerDirector & Vice Chair & President
Carl DranoffDirector
Keith a OrrisDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector
Helen Y BowmanDirector & Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Fmc Services INCCleaning ServicesPO BOX 645005, Cincinnati, OH 45264$941,824
Abm Engineering ServicesBuilding Services5300 S EASTERN AVE STE 100, Los Angeles, CA 90040$606,263
Palmer INCBuilding Services2175 BENNETT ROAD, Philadelphia, PA 19116$410,876
Grayston Construction CorporationBuilding Services2015 OLCOTT AVE, Ardmore, PA 19003$398,977
Allied Barton Security Services LLCSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$322,008
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,925,787
Investment Income
$21,505
Other Revenue
$3,160,673
Change in Net Assets
$1,303,528

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,107,965
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,152,627
Total Revenue per Audited Statements
$13,260,592
Total Revenue per Form 990
$9,107,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,223,016
Salaries, Compensation, and Employee Benefits$581,421
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$4,060,000--$4,060,000
Occupancy$2,279,439--$2,279,439
Depreciation Depletion$777,133--$777,133
Other Salaries and Wages$360,692--$360,692
Other Employee Benefits$110,253--$110,253
Current Officers, Directors, Trustees, and Key Employees$78,537--$78,537
Office Expenses$40,068--$40,068
Payroll Taxes$31,939--$31,939
Fees for Services Other$29,778--$29,778
Travel$2,887--$2,887
Advertising$2,786--$2,786
Fees for Services Legal$491--$491
Other Expenses$332--$332
Total Functional Expenses$7,804,437$0$0$7,804,437

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$11,957,064
Expenses per Audited Statements$7,804,437
Total Expenses per Form 990$7,804,437
Expenses Not Reported on Form 990$4,152,627
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$280,251
Payable to Affiliate$-11,063
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.”

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 2015, 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

Filer Name
Academic Properties Inc
EIN
23-2411680
Phone
2156621500
Address
3601 POWELTON AVE LOWER LEVEL, PHILADELPHIA, PA 19104

Signing Officer

Name
Martin Onzik
Title
Vice President
Phone
2156621500
Signed
2016-05-11

Organization Details

Principal Officer
James R Tucker
Formed
1986
Legal Domicile
Pa
Voting Board Members
8
Independent Board Members
3
Employees
11
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

“$4,060,000 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. 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 incur incidental activities that are subject to unrelated business income taxes for which appropriate income tax returns are filed. 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 there are any uncertain tax positions.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental property expenses from part viii, line 6b 4,152,628. Rounding -1.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental property expenses from part viii, line 6b 4,152,628. Rounding -1.”

Raw XML AppendixShowing 400 of 665 raw XML fields

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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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10126264
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt31267218
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt4571692
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt5465238
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt7423264
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt8110739
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR & CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR & VICE CHAIR & PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR & VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt9PROPERTY MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt10CONTROLLER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt013260593
IRS990/GrossRentsGrp/RealAmt07120554
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt021505
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt021505
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt023
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019850849
IRS990/LandBldgEquipBasisNetGrp/BOYAmt020228952
IRS990/LandBldgEquipBasisNetGrp/EOYAmt021188976
IRS990/LandBldgEquipCostOrOtherBssAmt041039825
IRS990/LegalDomicileStateCd0PA
IRS990/LessRentalExpensesGrp/RealAmt04152628
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/NetAssetsOrFundBalancesBOYAmt028059591
IRS990/NetAssetsOrFundBalancesEOYAmt029363119
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt02967926
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02967926
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt02279439
IRS990/OccupancyGrp/TotalAmt02279439
IRS990/OfficeExpensesGrp/ProgramServicesAmt040068
IRS990/OfficeExpensesGrp/TotalAmt040068
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01194471
IRS990/OtherAssetsTotalGrp/EOYAmt01075911
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0110253
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0110253
IRS990/OtherExpensesGrp/Desc0PROF DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc2FINES AND PENALTIES
IRS990/OtherExpensesGrp/ProgramServicesAmt020922
IRS990/OtherExpensesGrp/ProgramServicesAmt19180
IRS990/OtherExpensesGrp/ProgramServicesAmt2332
IRS990/OtherExpensesGrp/TotalAmt020922
IRS990/OtherExpensesGrp/TotalAmt19180
IRS990/OtherExpensesGrp/TotalAmt2332
IRS990/OtherLiabilitiesGrp/BOYAmt0138252
IRS990/OtherLiabilitiesGrp/EOYAmt0269188
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0192747
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0192747
IRS990/OtherRevenueTotalAmt0192747
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0360692
IRS990/OtherSalariesAndWagesGrp/TotalAmt0360692
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt04060000
IRS990/PaymentsToAffiliatesGrp/TotalAmt04060000
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt031939
IRS990/PayrollTaxesGrp/TotalAmt031939
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0140745
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0104294
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/RelatedOrExemptFuncIncomeAmt03413547
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12120268
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2391972
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03413547
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12120268
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2391972
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM SPACE TO DREXEL UNIVERSITY; RENTAL OF OFFICE SPACE TO DREXEL E-LEARNING.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04160765
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt03805519
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt037738
IRS990/PYOtherExpensesAmt08757626
IRS990/PYOtherRevenueAmt03176266
IRS990/PYProgramServiceRevenueAmt05953587
IRS990/PYRevenuesLessExpensesAmt0-160699
IRS990/PYSalariesCompEmpBnftPaidAmt0570664
IRS990/PYTotalExpensesAmt09328290
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09167591
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01303528
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt02967926
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02120268
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt028059591
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt029363119
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07338805
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08340104
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE 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.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ALL OF API'S ACTIVITIES AND FUNCTIONS DIRECTLY FURTHER THE EXEMPT PURPOSE OF DREXEL UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2ACADEMIC PROPERTIES INC. (API) ACQUIRES AND IMPROVES PROPERTIES OF STRATEGIC IMPORTANCE TO THE FUTURE GROWTH OF DREXEL UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 3
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SECTION E, LINE 2A
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2SECTION E, LINE 2B
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0231352630
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DREXEL UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05530250
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05585369
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt011115619
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/ExpensesNotReportedAmt04152627
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt07804437
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt011216766
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt013994314
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt025211080
IRS990ScheduleD/OtherExpensesIncludedAmt04152627
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt014305
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0223907
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0238212
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-11063
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1280251
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYABLE TO AFFILIATE

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,795,642
Liabilities
$1,432,523
Net assets
$29,363,119
Revenue
$9,107,965
Expenses
$7,804,437
Net income
$1,303,528
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $25M-$50M nonprofits