Civic Intelligence

Academic Properties Inc

990 • Fiscal year 2022 • EIN 23-2411680

Jul 01, 2021 to Jun 30, 2022 • Filed on May 23, 2023

Organization ProfileN/A

View Organization Page

3201 Arch Street 400Philadelphia, PA 19104

(215) 662-1500

Siviq Scores

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

Liabilities / Assets

24th percentile

0.04x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

35th percentile

0.16x

Higher debt load relative to revenue than 35% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

79th percentile

27%

Higher net margin than 79% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

99th percentile

$2,765,677

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 33.9% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

67th percentile

7.0%

Faster asset growth than 67% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

58th percentile

8.3%

Faster revenue growth than 58% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$29,565,241

Up $1,935,669 (+7.0%) from 2021

Net Assets

Up

$28,286,501

Up $2,229,204 (+8.6%) from 2021

Liabilities

Down

$1,278,740

Down $293,535 (-19%) from 2021

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin79th percentile

Revenue

Up

$8,151,800

Up $624,831 (+8.3%) from 2021

Expenses

Up

$5,922,596

Up $332,707 (+6.0%) from 2021

Net Income

Up

$2,229,204

Up $292,124 (+15%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $28,124,173Liabilities 2010: $5,406,579Net Assets 2010: $22,717,5942010Assets 2011: $29,277,808Liabilities 2011: $1,579,401Net Assets 2011: $27,698,4072011Assets 2012: $25,821,260Liabilities 2012: $1,224,536Net Assets 2012: $24,596,7242012Assets 2013: $29,308,026Liabilities 2013: $1,087,736Net Assets 2013: $28,220,2902013Assets 2014: $29,036,703Liabilities 2014: $977,112Net Assets 2014: $28,059,5912014Assets 2015: $30,795,642Liabilities 2015: $1,432,523Net Assets 2015: $29,363,1192015Assets 2016: $30,230,798Liabilities 2016: $825,993Net Assets 2016: $29,404,8052016Assets 2017: $33,199,134Liabilities 2017: $947,057Net Assets 2017: $32,252,0772017Assets 2018: $27,095,937Liabilities 2018: $1,127,218Net Assets 2018: $25,968,7192018Assets 2019: $29,305,381Liabilities 2019: $830,232Net Assets 2019: $28,475,1492019Assets 2020: $25,045,725Liabilities 2020: $925,508Net Assets 2020: $24,120,2172020Assets 2021: $27,629,572Liabilities 2021: $1,572,275Net Assets 2021: $26,057,2972021Assets 2022: $29,565,241Liabilities 2022: $1,278,740Net Assets 2022: $28,286,5012022Assets 2023: $32,583,764Liabilities 2023: $1,455,945Net Assets 2023: $31,127,8192023

Highlighted filing

2022

Assets$29,565,241
Liabilities$1,278,740
Net Assets$28,286,501
Open 2022 Filing

Operations Trend

Revenue Growth58th 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

2022

Revenue$8,151,800
Expenses$5,922,596
Net Income$2,229,204
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 23, 2023
Return Version
2021v4.2
Gross Receipts
$9,320,520
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$26,057,297$28,286,501▲ $2,229,204
Land, Buildings, and Equipment, Net$18,506,025$18,722,335▲ $216,310
Savings and Temporary Cash Investments$6,838,499$8,043,526▲ $1,205,027
Prepaid Expenses and Deferred Charges$1,698,111$2,158,822▲ $460,711
Accounts Receivable$93,518$94,642▲ $1,124
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$27,629,572$29,565,241▲ $1,935,669
Other Assets Total$493,419$545,916▲ $52,497
Liabilities
Deferred Revenue$1,118,740$763,867▼ $354,873
Accounts Payable and Accrued Expenses$332,597$362,954▲ $30,357
Other Liabilities$120,938$151,919▲ $30,981
Total Liabilities$1,572,275$1,278,740▼ $293,535
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,057,297$28,286,501▲ $2,229,204
Total Liabilities and Net Assets / Fund Balance$27,629,572$29,565,241▲ $1,935,669

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,910,298$4,858,674-
Other Land Buildings$0$187,596-
Land$4,427,655--
Equipment$0$47,259-
Leasehold Improvements$11,384,382$7,689,810-
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carmen PiccoloVice PresidentFT$148,173$22,268$170,441

Board Members and Trustees

NameTitle
John a FryChairman of the Board
Alan GreenbergerPresident, Chief Operating Officer
Helen Y BowmanVice Chair, Treasurer
David RusenkoDirector
Patrick S Pasquariello IiiDirector
Robert BuckleyDirector
Rebecca LacherSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
B & S Construction Group LLCConstruction Services145 CINNAMON HILL RD, King Of Prussia, PA 19406$487,600
Abm Facility Services INCBuilding ServicesPO BOX 419860, Boston, MA 02241$395,783
Allied Universal Security ServicesSecurity ServicesPO BOX 828854, Philadelphia, PA 19182$383,486
Palmer Waterproofing INCConstruction Services2175 BENNETT RD, Philadelphia, PA 19116$326,380
Jones Lang Lasalle Brokerage INCProfessional Services71700 TREASURY CENTER, Chicago, IL 60694$236,429
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,197,954
Investment Income
$4,247
Other Revenue
$1,949,599
Change in Net Assets
$2,229,204
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,332,336
Salaries, Compensation, and Employee Benefits$590,260
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$2,258,154--$2,258,154
Payments to Affiliates$2,073,894--$2,073,894
Depreciation Depletion$794,671--$794,671
Other Salaries and Wages$303,109--$303,109
Other Employee Benefits$166,273--$166,273
Fees for Services Other$95,567--$95,567
Current Officers, Directors, Trustees, and Key Employees$90,748--$90,748
Payroll Taxes$30,130--$30,130
Information Technology$23,894--$23,894
Office Expenses$10,302--$10,302
Fees for Services Accounting-$10,300-$10,300
Other Expenses$9,167--$9,167
Total Functional Expenses$5,912,296$10,300$0$5,922,596
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$146,688
Operating Lease Liability$5,231
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 and officers 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 400, PHILADELPHIA, PA 19104

Signing Officer

Name
Helen Y Bowman
Title
Treasurer
Phone
2158952803
Signed
2023-05-23

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:

“$2,073,894 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 624 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/InformationTechnologyGrp/ProgramServicesAmt023894
IRS990/InformationTechnologyGrp/TotalAmt023894
IRS990/InvestmentIncomeGrp/ExclusionAmt04247
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt04247
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt025
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt012783339
IRS990/LandBldgEquipBasisNetGrp/BOYAmt018506025
IRS990/LandBldgEquipBasisNetGrp/EOYAmt018722335
IRS990/LandBldgEquipCostOrOtherBssAmt031505674
IRS990/LegalDomicileStateCd0PA
IRS990/LessRentalExpensesGrp/RealAmt01168720
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/NetAssetsOrFundBalancesBOYAmt026057297
IRS990/NetAssetsOrFundBalancesEOYAmt028286501
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt01821228
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt01821228
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt02258154
IRS990/OccupancyGrp/TotalAmt02258154
IRS990/OfficeExpensesGrp/ProgramServicesAmt010302
IRS990/OfficeExpensesGrp/TotalAmt010302
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0493419
IRS990/OtherAssetsTotalGrp/EOYAmt0545916
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0166273
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0166273
IRS990/OtherExpensesGrp/Desc0COMMISSIONS
IRS990/OtherExpensesGrp/Desc1DUES AND LICENSES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/ProgramServicesAmt042518
IRS990/OtherExpensesGrp/ProgramServicesAmt113869
IRS990/OtherExpensesGrp/ProgramServicesAmt29167
IRS990/OtherExpensesGrp/TotalAmt042518
IRS990/OtherExpensesGrp/TotalAmt113869
IRS990/OtherExpensesGrp/TotalAmt29167
IRS990/OtherLiabilitiesGrp/BOYAmt0120938
IRS990/OtherLiabilitiesGrp/EOYAmt0151919
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt0128371
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0128371
IRS990/OtherRevenueTotalAmt0128371
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0303109
IRS990/OtherSalariesAndWagesGrp/TotalAmt0303109
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt02073894
IRS990/PaymentsToAffiliatesGrp/TotalAmt02073894
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt030130
IRS990/PayrollTaxesGrp/TotalAmt030130
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01698111
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02158822
IRS990/PrincipalOfficerNm0HELEN Y BOWMAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0CLASSROOM RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1RESIDENTIAL RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04704839
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11493115
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04704839
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11493115
IRS990/ProgSrvcAccomActy2Grp/Desc0RENTAL OF CLASSROOM AND OFFICE SPACE TO DREXEL UNIVERSITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03662523
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04704839
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt04205
IRS990/PYOtherExpensesAmt05033890
IRS990/PYOtherRevenueAmt01468049
IRS990/PYProgramServiceRevenueAmt06054715
IRS990/PYRevenuesLessExpensesAmt01937080
IRS990/PYSalariesCompEmpBnftPaidAmt0555999
IRS990/PYTotalExpensesAmt05589889
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07526969
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02229204
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt01821228
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01493115
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt026057297
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt028286501
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06838499
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08043526
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/SupportAmt02073894
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DREXEL UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt02073894
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02910298
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04858674
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt07768972
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047259
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt047259
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04427655
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04427655
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt011384382
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07689810
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt019074192
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0187596
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0187596
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0146688
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15231
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/TotalBookValueLandBuildingsAmt018722335
IRS990ScheduleD/TotalLiabilityAmt0151919
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt5148173
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$29,565,241
Liabilities
$1,278,740
Net assets
$28,286,501
Revenue
$8,151,800
Expenses
$5,922,596
Net income
$2,229,204
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
2022Detailed filing. Detailed filing data is available for this year.$29.6$1.28$28.3$8.15$5.92$2.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.6$1.57$26.1$7.53$5.59$1.94
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.0$0.93$24.1$7.23$11.6$4.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.3$0.83$28.5$7.71$5.21$2.51
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$1.13$26.0$1.42$6.81$5.40
2017Summary only. Only limited summary data is available for this year.$33.2$0.95$32.3$10.1$7.23$2.85
2016Detailed filing. Detailed filing data is available for this year.$30.2$0.83$29.4$9.89$9.85$0.04
2015Detailed filing. Detailed filing data is available for this year.$30.8$1.43$29.4$9.11$7.80$1.30
2014Detailed filing. Detailed filing data is available for this year.$29.0$0.98$28.1$9.17$9.33$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$1.09$28.2$4.67
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.8$1.22$24.6$4.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$1.58$27.7$2.81
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.1$5.41$22.7$2.50
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