Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2019 • EIN 23-2411680

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 13, 2020

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

19th percentile

0.03x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

24th percentile

0.11x

Higher debt load relative to revenue than 24% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

85th percentile

33%

Higher net margin than 85% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

99th percentile

$2,431,281

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 31.5% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

64th percentile

8.2%

Faster asset growth than 64% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

444%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$29,305,381

Up $2,209,444 (+8.2%) from 2018

Net Assets

Up

$28,475,149

Up $2,506,430 (+9.7%) from 2018

Liabilities

Down

$830,232

Down $296,986 (-26%) from 2018

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin85th percentile

Revenue

Up

$7,712,052

Up $6,295,382 (+444%) from 2018

Expenses

Down

$5,205,622

Down $1,609,100 (-24%) from 2018

Net Income

Up

$2,506,430

Up $7,904,482 (+146%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2019

Assets$29,305,381
Liabilities$830,232
Net Assets$28,475,149
Open 2019 Filing

Operations Trend

Revenue Growth98th 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

2019

Revenue$7,712,052
Expenses$5,205,622
Net Income$2,506,430
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 13, 2020
Return Version
2018v3.2
Gross Receipts
$8,682,158
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$25,968,719$28,475,149▲ $2,506,430
Land, Buildings, and Equipment, Net$16,213,001$18,200,098▲ $1,987,097
Savings and Temporary Cash Investments$10,402,763$10,100,965▼ $301,798
Accounts Receivable$184,906$360,509▲ $175,603
Prepaid Expenses and Deferred Charges-$205,749-
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$27,095,937$29,305,381▲ $2,209,444
Other Assets Total$294,067$436,860▲ $142,793
Liabilities
Accounts Payable and Accrued Expenses$785,333$500,953▼ $284,380
Other Liabilities$196,033$189,149▼ $6,884
Deferred Revenue$145,852$140,130▼ $5,722
Total Liabilities$1,127,218$830,232▼ $296,986
Net Assets / Fund Balance
Total Net Assets Fund Balance$25,968,719$28,475,149▲ $2,506,430
Total Liabilities and Net Assets / Fund Balance$27,095,937$29,305,381▲ $2,209,444

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,578,240$5,013,418-
Other Land Buildings$0$187,596-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$10,194,203$14,548,782-
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Martin J OnzikDirector & Vice PresidentFT$200,336$60,722$261,058
Carmen PiccoloProperty ManagerFT$135,854$56,784$192,638
Tigist TesfayeAvp, Finance and AdminFT$135,693$31,398$167,091
Melissa W BrownDirector & Secretary--$146,834$146,834

Board Members and Trustees

NameTitle
John a FryDirector & Chairman
Donald E MooreDirector & President (as of 6.3.19)
Helen Y BowmanDirector, Vice Chairman & Treasurer
Keith a OrrisDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector
David RusenkoDirector (through 6.2.19)

Highest Paid Contractors

ContractorServicesLocationCompensation
Belcher Roofing CorpBuilding Services11 COMMERCE DRIVE, Montgomeryville, PA 18936$790,625
Abm Facility Services INCBuilding ServicesPO BOX 419860, Boston, MA 02241$389,201
Gdi Service INCFacility Services780 FIFTH AVENUE STE 115, King Of Prussia, PA 19406$364,908
Turnkey Realty LLCRealty Services1145 FORREST ST SUITE 200, Conshohocken, PA 19428$314,769
Allied Barton Security Services LLCSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$274,908
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,342,662
Investment Income
$15,970
Other Revenue
$1,353,420
Change in Net Assets
$2,506,430
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,565,889
Salaries, Compensation, and Employee Benefits$639,733
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$2,233,175--$2,233,175
Payments to Affiliates$1,541,000--$1,541,000
Depreciation Depletion$670,438--$670,438
Other Salaries and Wages$278,381--$278,381
Other Employee Benefits$174,512--$174,512
Current Officers, Directors, Trustees, and Key Employees$136,132--$136,132
Fees for Services Other$58,684--$58,684
Payroll Taxes$50,708--$50,708
Fees for Services Accounting$17,574--$17,574
Office Expenses$16,765--$16,765
Other Expenses$4,033--$4,033
Total Functional Expenses$5,205,622$0$0$5,205,622
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$189,149
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 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
Donald E Moore
Title
President
Phone
2158956947
Signed
2020-07-13

Organization Details

Principal Officer
Donald E Moore
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:

“$1,541,000 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 675 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/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR, VICE CHAIRMAN & 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 (THROUGH 6.2.19)
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR & PRESIDENT (AS OF 6.3.19)
IRS990/Form990PartVIISectionAGrp/TitleTxt9PROPERTY MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt10AVP, FINANCE AND ADMIN
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt08682158
IRS990/GrossRentsGrp/RealAmt02171989
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt02
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt015970
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt015970
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt025
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019797055
IRS990/LandBldgEquipBasisNetGrp/BOYAmt016213001
IRS990/LandBldgEquipBasisNetGrp/EOYAmt018200098
IRS990/LandBldgEquipCostOrOtherBssAmt037997153
IRS990/LegalDomicileStateCd0PA
IRS990/LessRentalExpensesGrp/RealAmt0970106
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/NetAssetsOrFundBalancesBOYAmt025968719
IRS990/NetAssetsOrFundBalancesEOYAmt028475149
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt01201883
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt01201883
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt02233175
IRS990/OccupancyGrp/TotalAmt02233175
IRS990/OfficeExpensesGrp/ProgramServicesAmt016765
IRS990/OfficeExpensesGrp/TotalAmt016765
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0294067
IRS990/OtherAssetsTotalGrp/EOYAmt0436860
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0174512
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0174512
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1PROFESSIONAL DEVELOPMEN
IRS990/OtherExpensesGrp/ProgramServicesAmt024220
IRS990/OtherExpensesGrp/ProgramServicesAmt14033
IRS990/OtherExpensesGrp/TotalAmt024220
IRS990/OtherExpensesGrp/TotalAmt14033
IRS990/OtherLiabilitiesGrp/BOYAmt0196033
IRS990/OtherLiabilitiesGrp/EOYAmt0189149
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0151537
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0151537
IRS990/OtherRevenueTotalAmt0151537
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0278381
IRS990/OtherSalariesAndWagesGrp/TotalAmt0278381
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt01541000
IRS990/PaymentsToAffiliatesGrp/TotalAmt01541000
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt050708
IRS990/PayrollTaxesGrp/TotalAmt050708
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0205749
IRS990/PrincipalOfficerNm0DONALD E MOORE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0CLASSROOM RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1RESIDENTIAL RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04399451
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11943211
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04399451
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11943211
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM AND OFFICE SPACE TO DREXEL UNIVERSITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03505991
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04399451
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-5882253
IRS990/PYOtherExpensesAmt06259032
IRS990/PYOtherRevenueAmt02418569
IRS990/PYProgramServiceRevenueAmt04880354
IRS990/PYRevenuesLessExpensesAmt0-5398052
IRS990/PYSalariesCompEmpBnftPaidAmt0555690
IRS990/PYTotalExpensesAmt06814722
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01416670
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02506430
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt01201883
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01943211
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt025968719
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt028475149
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010402763
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010100965
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. 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/BookValueAmt03578240
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05013418
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt08591658
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010194203
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt014548782
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt024742985
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0187596
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0187596
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0189149
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/TotalBookValueLandBuildingsAmt018200098
IRS990ScheduleD/TotalLiabilityAmt0189149
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$29,305,381
Liabilities
$830,232
Net assets
$28,475,149
Revenue
$7,712,052
Expenses
$5,205,622
Net income
$2,506,430
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
2019Detailed filing. Detailed filing data is available for this year.$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