Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2021 • EIN 23-2411680

Jul 01, 2020 to Jun 30, 2021 • Filed on Jun 14, 2022

Organization ProfileN/A

View Organization Page

3201 Arch Street No 400Philadelphia, PA 19104

(215) 662-1500

Siviq Scores

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

Liabilities / Assets

28th percentile

0.06x

Higher debt load relative to assets than 28% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

43rd percentile

0.21x

Higher debt load relative to revenue than 43% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

71st percentile

26%

Higher net margin than 71% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

99th percentile

$2,384,271

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 31.7% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

50th percentile

10%

Faster asset growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

36th percentile

4.1%

Faster revenue growth than 36% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$27,629,572

Up $2,583,847 (+10%) from 2020

Net Assets

Up

$26,057,297

Up $1,937,080 (+8.0%) from 2020

Liabilities

Up

$1,572,275

Up $646,767 (+70%) from 2020

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin71st percentile

Revenue

Up

$7,526,969

Up $293,284 (+4.1%) from 2020

Expenses

Down

$5,589,889

Down $5,998,728 (-52%) from 2020

Net Income

Up

$1,937,080

Up $6,292,012 (+144%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth50th 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

2021

Assets$27,629,572
Liabilities$1,572,275
Net Assets$26,057,297
Open 2021 Filing

Operations Trend

Revenue Growth36th 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

2021

Revenue$7,526,969
Expenses$5,589,889
Net Income$1,937,080
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jun 14, 2022
Return Version
2020v4.2
Gross Receipts
$8,585,210
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$24,120,217$26,057,297▲ $1,937,080
Land, Buildings, and Equipment, Net$18,853,393$18,506,025▼ $347,368
Savings and Temporary Cash Investments$4,603,770$6,838,499▲ $2,234,729
Prepaid Expenses and Deferred Charges$489,152$1,698,111▲ $1,208,959
Accounts Receivable$69,994$93,518▲ $23,524
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$25,045,725$27,629,572▲ $2,583,847
Other Assets Total$1,029,416$493,419▼ $535,997
Liabilities
Deferred Revenue$537,293$1,118,740▲ $581,447
Accounts Payable and Accrued Expenses$216,612$332,597▲ $115,985
Other Liabilities$171,603$120,938▼ $50,665
Total Liabilities$925,508$1,572,275▲ $646,767
Net Assets / Fund Balance
Total Net Assets Fund Balance$24,120,217$26,057,297▲ $1,937,080
Total Liabilities and Net Assets / Fund Balance$25,045,725$27,629,572▲ $2,583,847

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,955,631$4,636,027-
Other Land Buildings$0$187,596-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$10,122,739$16,579,995-
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carmen PiccoloVice PresidentFT$133,066$48,820$181,886
Tigist TesfayeAvp, Finance and AdminFT$106,935$21,356$128,291
Rebecca LacherSecretary--$55,279$55,279

Board Members and Trustees

NameTitle
John a FryChairman of the Board
Donald E MoorePresident (through 10/20)
Alan GreenbergerPresident, Chief Operating Officer
Helen Y BowmanVice Chair, Treasurer
David RusenkoDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Graystone ConstructionConstruction Services2015 OLCOTT AVENUE, Ardmore, PA 19003$795,955
Allied Barton Security Services LLCSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$308,740
Abm Facility Services INCBuilding ServicesPO BOX 419860, Boston, MA 02241$288,829
Newmark Knight FrankBuilding Services1735 MARKET STREET, Philadelphia, PA 19103$248,414
Gdi Service INCCleaning Services780 FIFTH AVENUE, King Of Prussia, PA 19406$237,258
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,054,715
Investment Income
$4,205
Other Revenue
$1,468,049
Change in Net Assets
$1,937,080
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,033,890
Salaries, Compensation, and Employee Benefits$555,999
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$2,405,390--$2,405,390
Payments to Affiliates$1,541,000--$1,541,000
Depreciation Depletion$805,604--$805,604
Other Salaries and Wages$277,815--$277,815
Fees for Services Other$154,384--$154,384
Other Employee Benefits$129,408--$129,408
Current Officers, Directors, Trustees, and Key Employees$114,801--$114,801
Payroll Taxes$33,975--$33,975
Other Expenses$30,498--$30,498
Information Technology$28,941--$28,941
Fees for Services Accounting-$9,750-$9,750
Office Expenses$7,626--$7,626
Total Functional Expenses$5,580,139$9,750$0$5,589,889
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$112,828
Operating Lease Liability$8,110
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 35% controlled entity
No
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 treasurer 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 400, PHILADELPHIA, PA 19104

Signing Officer

Name
Helen Y Bowman
Title
President
Phone
2158952803
Signed
2022-06-14

Organization Details

Principal Officer
Helen Y Bowman
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:

“Academic properties, inc. Is a nonprofit organization that has been granted tax exempt status under section 501(c)(3) of the internal revenue code and files federal tax return form 990 (return of organization exempt from income tax). No provision or benefit for income taxes has been included in these financial statements. The organization is part of consolidated financial statements that includes a footnote that addresses accounting for uncertainty in income taxes (asc no. 740-10), but it is not related to the operations of this organization.”

Raw XML AppendixShowing 400 of 637 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.

Path#Value
IRS990/AccountantCompileOrReviewInd01
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0216612
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0332597
IRS990/AccountsReceivableGrp/BOYAmt069994
IRS990/AccountsReceivableGrp/EOYAmt093518
IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ACQUIRES AND IMPROVES PROPERTIES OF STRATEGIC IMPORTANCE TO THE FUTURE GROWTH OF DREXEL UNIVERSITY.
IRS990/AddressChangeInd0X
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0DREXEL UNIVERSITY COMPTROLLER'S OFFICE
IRS990/BooksInCareOfDetail/PhoneNum02158951442
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03141 CHESTNUT STREET STE 225
IRS990/BooksInCareOfDetail/USAddress/CityNm0PHILADELPHIA
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0PA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd019104
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt012
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0114801
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0114801
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/ContractorCompensationGrp/CompensationAmt0795955
IRS990/ContractorCompensationGrp/CompensationAmt1308740
IRS990/ContractorCompensationGrp/CompensationAmt2288829
IRS990/ContractorCompensationGrp/CompensationAmt3248414
IRS990/ContractorCompensationGrp/CompensationAmt4237258
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt02015 OLCOTT AVENUE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt1PO BOX 828854
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt2PO BOX 419860
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt31735 MARKET STREET
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt4780 FIFTH AVENUE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0ARDMORE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1PHILADELPHIA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm2BOSTON
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm3PHILADELPHIA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm4KING OF PRUSSIA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0PA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd1PA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd2MA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd3PA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd4PA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd019003
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd119182
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd202241
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd319103
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd419406
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0GRAYSTONE CONSTRUCTION
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1ALLIED BARTON SECURITY SERVICES LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2ABM FACILITY SERVICES INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3NEWMARK KNIGHT FRANK
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4GDI SERVICE INC
IRS990/ContractorCompensationGrp/ServicesDesc0CONSTRUCTION SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc1SECURITY SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc2BUILDING SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc3BUILDING SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4CLEANING SERVICES
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt04205
IRS990/CYOtherExpensesAmt05033890
IRS990/CYOtherRevenueAmt01468049
IRS990/CYProgramServiceRevenueAmt06054715
IRS990/CYRevenuesLessExpensesAmt01937080
IRS990/CYSalariesCompEmpBnftPaidAmt0555999
IRS990/CYTotalExpensesAmt05589889
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt07526969
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt0537293
IRS990/DeferredRevenueGrp/EOYAmt01118740
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0805604
IRS990/DepreciationDepletionGrp/TotalAmt0805604
IRS990/Desc0HOUSING FOR STUDENTS OF DREXEL UNIVERSITY.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt011
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt02254767
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt09750
IRS990/FeesForServicesAccountingGrp/TotalAmt09750
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0154384
IRS990/FeesForServicesOtherGrp/TotalAmt0154384
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt045.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt143.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt243.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt342.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt543.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt70.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt843.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt90.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt440.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt82.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt940.00
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt0346976
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt143992
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt217978
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt329383
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt448820
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt54106
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt819143
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt921356
IRS990/Form990PartVIISectionAGrp/PersonNm0JOHN A FRY
IRS990/Form990PartVIISectionAGrp/PersonNm1HELEN Y BOWMAN
IRS990/Form990PartVIISectionAGrp/PersonNm2DONALD E MOORE
IRS990/Form990PartVIISectionAGrp/PersonNm3DAVID RUSENKO
IRS990/Form990PartVIISectionAGrp/PersonNm4CARMEN PICCOLO
IRS990/Form990PartVIISectionAGrp/PersonNm5REBECCA LACHER
IRS990/Form990PartVIISectionAGrp/PersonNm6ROBERT BUCKLEY
IRS990/Form990PartVIISectionAGrp/PersonNm7PATRICK S PASQUARIELLO III
IRS990/Form990PartVIISectionAGrp/PersonNm8ALAN GREENBERGER
IRS990/Form990PartVIISectionAGrp/PersonNm9TIGIST TESFAYE
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4133066
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9106935
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt02037295
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1880901
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt2271560
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt3277216
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt551173
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt8204557
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT (THROUGH 10/20)
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT, CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt9AVP, FINANCE AND ADMIN
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt08585210
IRS990/GrossRentsGrp/RealAmt02401270
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt02
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt028941
IRS990/InformationTechnologyGrp/TotalAmt028941
IRS990/InvestmentIncomeGrp/ExclusionAmt04205
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt04205
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt029
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt021450877
IRS990/LandBldgEquipBasisNetGrp/BOYAmt018853393
IRS990/LandBldgEquipBasisNetGrp/EOYAmt018506025
IRS990/LandBldgEquipCostOrOtherBssAmt039956902
IRS990/LegalDomicileStateCd0PA
IRS990/LessRentalExpensesGrp/RealAmt01058241
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/NetAssetsOrFundBalancesBOYAmt024120217
IRS990/NetAssetsOrFundBalancesEOYAmt026057297
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt01343029
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt01343029
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt02405390
IRS990/OccupancyGrp/TotalAmt02405390
IRS990/OfficeExpensesGrp/ProgramServicesAmt07626
IRS990/OfficeExpensesGrp/TotalAmt07626
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01029416
IRS990/OtherAssetsTotalGrp/EOYAmt0493419
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0129408
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0129408
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1COMMISSIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt050697
IRS990/OtherExpensesGrp/ProgramServicesAmt130498
IRS990/OtherExpensesGrp/TotalAmt050697
IRS990/OtherExpensesGrp/TotalAmt130498
IRS990/OtherLiabilitiesGrp/BOYAmt0171603
IRS990/OtherLiabilitiesGrp/EOYAmt0120938
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0125020
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0125020
IRS990/OtherRevenueTotalAmt0125020
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0277815
IRS990/OtherSalariesAndWagesGrp/TotalAmt0277815
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt01541000
IRS990/PaymentsToAffiliatesGrp/TotalAmt01541000
IRS990/PayrollTaxesGrp/ProgramServicesAmt033975
IRS990/PayrollTaxesGrp/TotalAmt033975
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0489152
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01698111
IRS990/PrincipalOfficerNm0HELEN Y BOWMAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0CLASSROOM RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1RESIDENTIAL RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04617158
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11437557
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04617158
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11437557
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM AND OFFICE SPACE TO DREXEL UNIVERSITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03325372
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04617158
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt05852
IRS990/PYOtherExpensesAmt010568600
IRS990/PYOtherRevenueAmt0360112
IRS990/PYProgramServiceRevenueAmt06867721
IRS990/PYRevenuesLessExpensesAmt0-4354932
IRS990/PYSalariesCompEmpBnftPaidAmt01020017
IRS990/PYTotalExpensesAmt011588617
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07233685
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt01937080
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt01343029
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01437557
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt024120217
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt026057297
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04603770
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06838499
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 CHAIR 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/SupportAmt01541000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DREXEL UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt01541000
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03955631
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04636027
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt08591658
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010122739
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt016579995
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt026702734
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0187596
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0187596
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0112828
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT ESCROW DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPERATING LEASE LIABILITY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACADEMIC PROPERTIES, INC. IS A NONPROFIT ORGANIZATION THAT HAS BEEN GRANTED TAX EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FILES FEDERAL TAX RETURN FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX). NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS. THE ORGANIZATION IS PART OF CONSOLIDATED FINANCIAL STATEMENTS THAT INCLUDES A FOOTNOTE THAT ADDRESSES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC NO. 740-10), BUT IT IS NOT RELATED TO THE OPERATIONS OF THIS ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018506025
IRS990ScheduleD/TotalLiabilityAmt0120938
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,629,572
Liabilities
$1,572,275
Net assets
$26,057,297
Revenue
$7,526,969
Expenses
$5,589,889
Net income
$1,937,080
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
2021Detailed filing. Detailed filing data is available for this year.$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