Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2017 • EIN 23-2411680

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

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

18th percentile

0.03x

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

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

21st percentile

0.09x

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

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

83rd percentile

28%

Higher net margin than 83% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

97th percentile

$1,671,432

Higher top officer pay than 97% of similar nonprofits.

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

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

68th percentile

9.8%

Faster asset growth than 68% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

39th percentile

1.9%

Faster revenue growth than 39% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets18th percentile

Assets

Flat

$33,199,134

Flat from 2017

Net Assets

Flat

$32,252,077

Flat from 2017

Liabilities

Flat

$947,057

Flat from 2017

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin83rd percentile

Revenue

Flat

$10,074,148

Flat from 2017

Expenses

Flat

$7,226,876

Flat from 2017

Net Income

Flat

$2,847,272

Flat from 2017

Historical Trend

Balance Sheet Trend

Asset Growth68th 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 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

2017

Assets$33,199,134
Liabilities$947,057
Net Assets$32,252,077
Open 2017 Filing

Operations Trend

Revenue Growth39th 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 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

2017

Revenue$10,074,148
Expenses$7,226,876
Net Income$2,847,272
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$13,823,767
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$29,404,805$32,252,077▲ $2,847,272
Land, Buildings, and Equipment, Net$22,160,330$21,966,457▼ $193,873
Savings and Temporary Cash Investments$6,239,571$9,445,818▲ $3,206,247
Accounts Receivable$672,654$433,252▼ $239,402
Prepaid Expenses and Deferred Charges$58,951$24,668▼ $34,283
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$30,230,798$33,199,134▲ $2,968,336
Other Assets Total$1,098,092$1,327,739▲ $229,647
Liabilities
Accounts Payable and Accrued Expenses$339,545$511,469▲ $171,924
Other Liabilities$203,794$242,323▲ $38,529
Deferred Revenue$282,654$193,265▼ $89,389
Total Liabilities$825,993$947,057▲ $121,064
Net Assets / Fund Balance
Total Net Assets Fund Balance$29,404,805$32,252,077▲ $2,847,272
Total Liabilities and Net Assets / Fund Balance$30,230,798$33,199,134▲ $2,968,336

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,987,162$4,128,457-
Other Land Buildings$50,616$187,596-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$10,501,024$17,749,222-
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Helen Y BowmanDirector,president, Vice Chair, Treasurer--$836,542$836,542
Martin J OnzikDirector & Vice PresidentFT$200,336$53,859$254,195
Carmen PiccoloProperty ManagerFT$130,854$55,755$186,609
Tigist TesfayeControllerFT$130,693$28,238$158,931
Melissa W BrownDirector & Secretary--$146,336$146,336

Board Members and Trustees

NameTitle
John a FryDirector & Chairman
Helen Y BowmanDirector,president, Vice Chair, Trea
James R TuckerFormer Director & Vice Chair & Pr
Keith a OrrisDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector
Robert FrancisDirector
Jeffrey Eberly 7116-11916Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Gdi Service INCFacility Services780 FIFTH AVENUE STE 115, King Of Prussia, PA 19406$981,424
Abm Engineering ServicesBuilding Services5300 S EASTERN AVE STE 100, Los Angeles, CA 90040$716,052
Watts Restoration Co INCBuilding Services1704 BUTLER PIKE, Feasterville, PA 19053$639,000
Allied Barton Security Services LLCSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$363,184
Gray Stone Construction CorporationBuilding Services2015 OLCOTT AVE, Ardmore, PA 19003$345,103
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,251,278
Investment Income
$10,780
Other Revenue
$3,812,090
Change in Net Assets
$2,847,272

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,074,148
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$3,749,619
Total Revenue per Audited Statements
$13,823,767
Total Revenue per Form 990
$10,074,148
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,681,603
Salaries, Compensation, and Employee Benefits$545,273
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$3,385,009--$3,385,009
Occupancy$2,399,818--$2,399,818
Depreciation Depletion$836,243--$836,243
Other Salaries and Wages$306,703--$306,703
Other Employee Benefits$119,313--$119,313
Current Officers, Directors, Trustees, and Key Employees$90,697--$90,697
Payroll Taxes$28,560--$28,560
Office Expenses$24,565--$24,565
Fees for Services Other$17,366--$17,366
Fees for Services Accounting$4,013--$4,013
Advertising$3,175--$3,175
Other Expenses$2,307--$2,307
Travel$1,410--$1,410
Fees for Services Legal$824--$824
Total Functional Expenses$7,226,876$0$0$7,226,876

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$10,976,495
Expenses per Audited Statements$7,226,876
Total Expenses per Form 990$7,226,876
Expenses Not Reported on Form 990$3,749,619
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$242,323
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 11B

“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 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 J Onzik
Title
Vice President
Phone
2156621500
Signed
2018-05-14

Organization Details

Principal Officer
Martin J Onzik
Formed
1986
Legal Domicile
Pa
Voting Board Members
8
Independent Board Members
2
Employees
10
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 21

“$3,385,009 represents a transfer to a 501(c)(3) affiliate organization.”

FORM 990, 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 the task of selecting the independent auditor and approving the audit plan.”

Financial Statement Notes

PART X, LINE 2:

“No provision or benefit for income taxes has been included in the organization's financial statements. The corporation is a nonprofit organization that has been granted tax exempt status under section 501(c)(3) of the internal revenue code. The organization is part of consolidated financial statements that includes a footnote that addresses uncertain tax positions under fin 48 (asc 740), but it is not related to the operations of this organization.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental property expenses from part viii, line 6b 3,749,619.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental property expenses from part viii, line 6b 3,749,619.”

Raw XML AppendixShowing 400 of 716 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/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9130854
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10130693
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt0746151
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1118625
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt3297538
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt41343353
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt6457896
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt8430575
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11191209
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR,PRESIDENT, VICE CHAIR, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR & CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR & VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9PROPERTY MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt10CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt11FORMER DIRECTOR & VICE CHAIR & PR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd01
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt013823767
IRS990/GrossRentsGrp/RealAmt07365013
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt02
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt010780
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt010780
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt022
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt022112534
IRS990/LandBldgEquipBasisNetGrp/BOYAmt022160330
IRS990/LandBldgEquipBasisNetGrp/EOYAmt021966457
IRS990/LandBldgEquipCostOrOtherBssAmt044078991
IRS990/LegalDomicileStateCd0PA
IRS990/LessRentalExpensesGrp/RealAmt03749619
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/NetAssetsOrFundBalancesBOYAmt029404805
IRS990/NetAssetsOrFundBalancesEOYAmt032252077
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt03615394
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt03615394
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt02399818
IRS990/OccupancyGrp/TotalAmt02399818
IRS990/OfficeExpensesGrp/ProgramServicesAmt024565
IRS990/OfficeExpensesGrp/TotalAmt024565
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01098092
IRS990/OtherAssetsTotalGrp/EOYAmt01327739
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0119313
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0119313
IRS990/OtherExpensesGrp/Desc0PROFESSIONAL DEVELOPMEN
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt06873
IRS990/OtherExpensesGrp/ProgramServicesAmt12307
IRS990/OtherExpensesGrp/TotalAmt06873
IRS990/OtherExpensesGrp/TotalAmt12307
IRS990/OtherLiabilitiesGrp/BOYAmt0203794
IRS990/OtherLiabilitiesGrp/EOYAmt0242323
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0196696
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0196696
IRS990/OtherRevenueTotalAmt0196696
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0306703
IRS990/OtherSalariesAndWagesGrp/TotalAmt0306703
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt03385009
IRS990/PaymentsToAffiliatesGrp/TotalAmt03385009
IRS990/PayrollTaxesGrp/ProgramServicesAmt028560
IRS990/PayrollTaxesGrp/TotalAmt028560
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt058951
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt024668
IRS990/PrincipalOfficerNm0MARTIN J ONZIK
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/RelatedOrExemptFuncIncomeAmt03597620
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12162566
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2491092
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03597620
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12162566
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2491092
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM AND OFFICE SPACE TO DREXEL UNIVERSITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03912679
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04088712
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt016641
IRS990/PYOtherExpensesAmt09225542
IRS990/PYOtherRevenueAmt04059569
IRS990/PYProgramServiceRevenueAmt05813206
IRS990/PYRevenuesLessExpensesAmt041686
IRS990/PYSalariesCompEmpBnftPaidAmt0622188
IRS990/PYTotalExpensesAmt09847730
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09889416
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02847272
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt03615394
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02162566
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt029404805
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt032252077
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06239571
IRS990/SavingsAndTempCashInvstGrp/EOYAmt09445818
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 ACADEMIC PROPERTIES, INC. (API) 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/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION 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/BookValueAmt06987162
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04128457
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt011115619
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/ExpensesNotReportedAmt03749619
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt07226876
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010501024
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt017749222
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt028250246

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,199,134
Liabilities
$947,057
Net assets
$32,252,077
Revenue
$10,074,148
Expenses
$7,226,876
Net income
$2,847,272
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
2017Detailed filing. Detailed filing data is available for this year.$33.2$0.95$32.3$10.1$7.23$2.85
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