Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2018 • EIN 23-2411680

Jul 01, 2017 to Jun 30, 2018 • Filed on May 09, 2019

Organization ProfileN/A

View Organization Page

3201 Arch Street No 420Philadelphia, 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

0.04x

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

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.80x

Higher debt load relative to revenue than 73% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

1st percentile

-381%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

96th percentile

$1,423,636

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 100.5% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

4th percentile

-18%

Faster asset growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-86%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$27,095,937

Down $6,103,197 (-18%) from 2017

Net Assets

Down

$25,968,719

Down $6,283,358 (-19%) from 2017

Liabilities

Up

$1,127,218

Up $180,161 (+19%) from 2017

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin1st percentile

Revenue

Down

$1,416,670

Down $8,657,478 (-86%) from 2017

Expenses

Down

$6,814,722

Down $412,154 (-5.7%) from 2017

Net Income

Down

-$5,398,052

Down $8,245,324 (-290%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2018

Assets$27,095,937
Liabilities$1,127,218
Net Assets$25,968,719
Open 2018 Filing

Operations Trend

Revenue Growth1st 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

2018

Revenue$1,416,670
Expenses$6,814,722
Net Income-$5,398,052
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 9, 2019
Return Version
2017v2.3
Gross Receipts
$9,574,996
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$32,252,077$25,968,719▼ $6,283,358
Land, Buildings, and Equipment, Net$21,966,457$16,213,001▼ $5,753,456
Savings and Temporary Cash Investments$9,445,818$10,402,763▲ $956,945
Accounts Receivable$433,252$184,906▼ $248,346
Prepaid Expenses and Deferred Charges$24,668$0▼ $24,668
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$33,199,134$27,095,937▼ $6,103,197
Other Assets Total$1,327,739$294,067▼ $1,033,672
Liabilities
Accounts Payable and Accrued Expenses$511,469$785,333▲ $273,864
Other Liabilities$242,323$196,033▼ $46,290
Deferred Revenue$193,265$145,852▼ $47,413
Total Liabilities$947,057$1,127,218▲ $180,161
Net Assets / Fund Balance
Total Net Assets Fund Balance$32,252,077$25,968,719▼ $6,283,358
Total Liabilities and Net Assets / Fund Balance$33,199,134$27,095,937▼ $6,103,197

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,800,889$3,968,084-
Other Land Buildings$10,083$228,129-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$7,974,374$14,825,157-
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Helen Y BowmanDirector, President, Vice Chair, Treasurer--$712,584$712,584
Martin J OnzikDirector & Vice PresidentFT$200,336$56,301$256,637
Carmen PiccoloProperty ManagerFT$130,854$55,162$186,016
Tigist TesfayeAvp, Finance and AdminFT$130,693$29,380$160,073
Melissa W BrownDirector & Secretary--$142,802$142,802

Board Members and Trustees

NameTitle
John a FryDirector & Chairman
Helen Y BowmanDirector, President, Vice Chair, Tre
David RusenkoDirector
Keith a OrrisDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Gdi Service INCFacility Services780 FIFTH AVENUE STE 115, King Of Prussia, PA 19406$792,420
Watts Restoration Co INCBuilding Services1704 BUSTLETON PIKE, Feasterville, PA 19053$681,410
Abm Facility Services INCBuilding ServicesPO BOX 419860, Boston, MA 02241$619,858
Allied Barton Security Services LLCSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$370,404
Gray Stone Construction CorporationBuilding Services2015 OLCOTT AVE, Ardmore, PA 19003$149,600
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,880,354
Investment Income
$-5,882,253
Other Revenue
$2,418,569
Change in Net Assets
$-5,398,052
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,259,032
Salaries, Compensation, and Employee Benefits$555,690
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$3,401,159--$3,401,159
Occupancy$1,998,769--$1,998,769
Depreciation Depletion$804,939--$804,939
Other Salaries and Wages$296,780--$296,780
Other Employee Benefits$139,652--$139,652
Current Officers, Directors, Trustees, and Key Employees$83,277--$83,277
Payroll Taxes$35,981--$35,981
Office Expenses$20,337--$20,337
Fees for Services Other$17,445--$17,445
Other Expenses$10,484--$10,484
Fees for Services Accounting$4,851--$4,851
Fees for Services Legal$1,048--$1,048
Total Functional Expenses$6,814,722$0$0$6,814,722
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$196,033
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
3201 ARCH STREET NO 420, PHILADELPHIA, PA 19104

Signing Officer

Name
Martin J Onzik
Title
Vice President
Phone
2156621500
Signed
2019-05-09

Organization Details

Principal Officer
Martin J Onzik
Formed
1986
Legal Domicile
Pa
Voting Board Members
8
Independent Board Members
2
Employees
11
Volunteers
0
Supplemental Narrative

Additional Explanations

FORM 990, PART IX, LINE 21:

“$3,401,159 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.”

Raw XML AppendixShowing 400 of 654 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/TitleTxt0DIRECTOR, PRESIDENT, VICE CHAIR, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR & CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR & VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PROPERTY MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt9AVP, FINANCE AND ADMIN
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-5894896
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt09574996
IRS990/GrossRentsGrp/RealAmt04111599
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt02
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt012643
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012643
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt028
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019068629
IRS990/LandBldgEquipBasisNetGrp/BOYAmt021966457
IRS990/LandBldgEquipBasisNetGrp/EOYAmt016213001
IRS990/LandBldgEquipCostOrOtherBssAmt035281630
IRS990/LegalDomicileStateCd0PA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt05894896
IRS990/LessRentalExpensesGrp/RealAmt02263430
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/NetAssetsOrFundBalancesBOYAmt032252077
IRS990/NetAssetsOrFundBalancesEOYAmt025968719
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-5894896
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-5894896
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt01848169
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt01848169
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt01998769
IRS990/OccupancyGrp/TotalAmt01998769
IRS990/OfficeExpensesGrp/ProgramServicesAmt020337
IRS990/OfficeExpensesGrp/TotalAmt020337
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01327739
IRS990/OtherAssetsTotalGrp/EOYAmt0294067
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0139652
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0139652
IRS990/OtherExpensesGrp/Desc0PROFESSIONAL DEVELOPMEN
IRS990/OtherExpensesGrp/ProgramServicesAmt010484
IRS990/OtherExpensesGrp/TotalAmt010484
IRS990/OtherLiabilitiesGrp/BOYAmt0242323
IRS990/OtherLiabilitiesGrp/EOYAmt0196033
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0570400
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0570400
IRS990/OtherRevenueTotalAmt0570400
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0296780
IRS990/OtherSalariesAndWagesGrp/TotalAmt0296780
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt03401159
IRS990/PaymentsToAffiliatesGrp/TotalAmt03401159
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt035981
IRS990/PayrollTaxesGrp/TotalAmt035981
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt024668
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0MARTIN J ONZIK
IRS990/PriorPeriodAdjustmentsAmt0-885306
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0CLASSROOM RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1RESIDENTIAL RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02925018
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11955336
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02925018
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11955336
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM AND OFFICE SPACE TO DREXEL UNIVERSITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt05011378
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt02925018
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt010780
IRS990/PYOtherExpensesAmt06681603
IRS990/PYOtherRevenueAmt03812090
IRS990/PYProgramServiceRevenueAmt06251278
IRS990/PYRevenuesLessExpensesAmt02847272
IRS990/PYSalariesCompEmpBnftPaidAmt0545273
IRS990/PYTotalExpensesAmt07226876
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010074148
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-5398052
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt01848169
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01955336
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt032252077
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt025968719
IRS990/SavingsAndTempCashInvstGrp/BOYAmt09445818
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010402763
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/ExplanationTxt0ACADEMIC PROPERTIES, INC. CHAIRMAN, JOHN FRY, IS THE PRESIDENT OF ACADEMIC PROPERTIES, INC.'S SOLE SUPPORTED ORGANIZATION, DREXEL UNIVERSITY. ACADEMIC PROPERTIES, INC. PRESIDENT, VICE CHAIRMAN AND TREASURER, HELEN BOWMAN, IS THE EXECUTIVE VICE PRESIDENT, TREASURER, AND CHIEF OPERATING OFFICER OF ACADEMIC PROPERTIES, INC.'S SOLE SUPPORTED ORGANIZATION, DREXEL UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ALL 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/BookValueAmt03800889
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03968084
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt07768973
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt07974374
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt014825157
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt022799531
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010083
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0228129
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0238212
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0196033
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT ESCROW DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NO 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016213001
IRS990ScheduleD/TotalLiabilityAmt0196033
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,095,937
Liabilities
$1,127,218
Net assets
$25,968,719
Revenue
$1,416,670
Expenses
$6,814,722
Net income
-$5,398,052
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
2018Detailed filing. Detailed filing data is available for this year.$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