Civic Intelligence

Academic Assets Inc.

990 • Fiscal year 2017 • EIN 23-2455915

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

Organization ProfileN/A
3601 Powelton Ave Lower LevelPhiladelphia, PA 19104

(215) 662-1500

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2017

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2017

Top Officer Pay

97th percentile

$1,671,432

Higher top officer pay than 97% of similar nonprofits.

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

Asset Growth

68th percentile

9.7%

Faster asset growth than 68% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$32,252,077

Up $2,847,272 (+9.7%) from 2016

Net Assets

Up

$32,252,077

Up $2,847,272 (+9.7%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Flat

$0

Flat from 2016

Expenses

Flat

$0

Flat from 2016

Net Income

Flat

$0

Flat from 2016

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$40M$30M$20M$10M$0Assets 2010: $22,717,594Liabilities 2010: $0Net Assets 2010: $22,717,5942010Assets 2011: $27,698,407Liabilities 2011: $0Net Assets 2011: $27,698,4072011Assets 2012: $24,596,724Liabilities 2012: $0Net Assets 2012: $24,596,7242012Assets 2013: $28,220,290Liabilities 2013: $0Net Assets 2013: $28,220,2902013Assets 2014: $28,059,591Liabilities 2014: $0Net Assets 2014: $28,059,5912014Assets 2015: $29,363,119Liabilities 2015: $0Net Assets 2015: $29,363,1192015Assets 2016: $29,404,805Liabilities 2016: $0Net Assets 2016: $29,404,8052016Assets 2017: $32,252,077Liabilities 2017: $0Net Assets 2017: $32,252,0772017Assets 2018: $25,968,719Liabilities 2018: $0Net Assets 2018: $25,968,7192018Assets 2019: $28,475,149Liabilities 2019: $0Net Assets 2019: $28,475,1492019Assets 2020: $24,127,898Liabilities 2020: $0Net Assets 2020: $24,127,8982020Assets 2021: $26,076,806Liabilities 2021: $0Net Assets 2021: $26,076,8062021Assets 2022: $28,316,826Liabilities 2022: $0Net Assets 2022: $28,316,8262022Assets 2023: $31,169,320Liabilities 2023: $0Net Assets 2023: $31,169,3202023Assets 2024: $33,725,471Liabilities 2024: $0Net Assets 2024: $33,725,4712024

Highlighted filing

2017

Assets$32,252,077
Liabilities$0
Net Assets$32,252,077
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60K$40K$20K$0-$20K-$40KExpenses 2010: $02010Expenses 2011: $02011Expenses 2012: $02012Expenses 2013: $02013Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $0Expenses 2016: $0Net Income 2016: $02016Revenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $7,681Expenses 2020: $0Net Income 2020: $7,6812020Revenue 2021: $11,828Expenses 2021: $0Net Income 2021: $11,8282021Revenue 2022: $11,828Expenses 2022: $0Net Income 2022: $11,8282022Revenue 2023: $12,128Expenses 2023: $0Net Income 2023: $12,1282023Revenue 2024: $12,943Expenses 2024: $45,000Net Income 2024: -$32,0572024

Highlighted filing

2017

Revenue$0
Expenses$0
Net Income$0
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$0
Mission and Program Overview

Mission

Academic assets, inc. Is a holding company for academic properties, inc. To maximize 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
Investments Other Securities$29,404,805$32,252,077▲ $2,847,272
Rtn Earn Endowment Incm Other Fnds$29,404,805$32,252,077▲ $2,847,272
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$29,404,805$32,252,077▲ $2,847,272
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$29,404,805$32,252,077▲ $2,847,272
Total Liabilities and Net Assets / Fund Balance$29,404,805$32,252,077▲ $2,847,272

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$32,252,077--
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleOtherTotal
Helen Y BowmanDirector, President, Vice Chair, Treasurer$836,542$836,542

Board Members and Trustees

NameTitle
John a FryDirector & Chairman
Helen Y BowmanDirector, President, Vice Chair, Tre
Lucy E KermanDirector & Secretary
James R TuckerFormer Director & Presiden
Melissa W BrownFormer Secretary
Jeffrey Eberly 7116-11916Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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. Drexel university shall appoint the directors of the corporation.”

Form 990, Part VI, Section A, Line 8B

“There were no subcommitees formed within the board of directors.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is submitted to the president of academic assets, inc. For review and signing and provided to each member of the board of directors of academic assets 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 and conflict of interest policy are located at the office of academic properties, inc. And made available upon request.”

Filing and Contact Details

Filer

Filer Name
Academic Assets Inc
EIN
23-2455915
Phone
2156621500
Address
3601 POWELTON AVE LOWER LEVEL, PHILADELPHIA, PA 19104

Signing Officer

Name
Helen Y Bowman
Title
President
Phone
2156621500
Signed
2018-05-14

Organization Details

Principal Officer
Helen Y Bowman
Formed
1986
Legal Domicile
Pa
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part V, Lines 7G & 7H

“NOT APPLICABLE”

FORM 990, PART XI, LINE 9:

“Increase in investment in academic properties, inc. 2,847,272.”

Raw XML AppendixShowing 400 of 476 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
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE CORPORATION SHALL BE OPERATED IN CONNECTION WITH DREXEL UNIVERSITY WITHIN THE MEANING OF SECTION 509(A)(3) OF THE CODE. THE DIRECTORS AND OFFICERS OF THE CORPORATION SHALL MAINTAIN A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE OFFICERS OF DREXEL UNIVERSITY.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt5108625
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt50
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt50
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt1312008
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt228517
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt329150
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt511816
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt50
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt28122
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt38340
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt515895
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt1341080
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt3123619
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt4191209
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0HELEN Y BOWMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOHN A FRY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2LUCY E KERMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3JEFFREY EBERLY 7116-11916
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4JAMES R TUCKER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5MELISSA W BROWN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR, PRESIDENT, VICE CHAIR, TRE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR & CHAIRMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2DIRECTOR & SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4FORMER DIRECTOR & PRESIDEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5FORMER SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0836542
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt11671432
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2294438
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3468065
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt4191209
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt5146336
IRS990ScheduleJ/SeverancePaymentInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ACADEMIC ASSETS, INC. HAS NO EMPLOYEES.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1ACADEMIC ASSETS, INC. HAS NO EMPLOYEES.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt2IN RECOGNITION OF AND CONSIDERATION FOR THE GOODS AND VALUABLE SERVICES MR. FRY HAS PROVIDED, AND WILL CONTINUE TO PROVIDE, TO DREXEL UNIVERSITY DURING HIS EMPLOYMENT, DREXEL UNIVERSITY (RELATED ORGANIZATION) AGREES TO PROVIDE MR. FRY WITH CERTAIN SUPPLEMENTAL RETIREMENT AND DEATH BENEFITS, EFFECTIVE AS OF JULY 1, 2012. MR. FRY'S ACCOUNT SHALL BE CREDITED WITH AN ALLOCATION BY DREXEL UNIVERSITY IN THE FALL OF EACH YEAR (AND NOT LATER THAN DECEMBER 15), BEGINNING IN THE FALL OF 2013, AND ENDING IN THE FALL OF 2020, IN ACCORDANCE WITH THE FOLLOWING FORMULA. THE ALLOCATION FOR EACH YEAR SHALL BE CONDITIONED ON MR. FRY'S CONTINUED EMPLOYMENT THROUGH THE END OF THE FISCAL YEAR ENDING ON THE IMMEDIATELY PRECEDING JUNE 30 (OR UPON THE DATE OF DEATH, TOTAL DISABILITY, OR INVOLUNTARY TERMINATION, IF EARLIER). THE FORMULA IS 11% OF THE SUM OF MR. FRY'S PAID COMPENSATION (BASE SALARY AND ANNUAL PERFORMANCE BONUS (IF ANY)) FOR THE FISCAL YEAR ENDING ON THE IMMEDIATELY PRECEDING JUNE 30 THAT IS IN EXCESS OF THE COMPENSATION LIMIT UNDER SECTION 401(A)(17) OF THE INTERNAL REVENUE CODE AS IN EFFECT DURING SUCH PERIOD IN DETERMINING THE MAXIMUM COMPENSATION UNDER DREXEL UNIVERSITY'S PENSION PLAN. JAMES TUCKER, FORMER SVP ADMINISTRATIVE & BUSINESS SERVICES, FOLLOWING THE DECEMBER 31, 2015 RETIREMENT DATE, MR. TUCKER RECEIVED AN ADDITIONAL SIX MONTH SEVERANCE PAYMENT IN THE AMOUNT OF $191,209.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt3DREXEL UNIVERSITY (RELATED ORGANIZATION) WILL PROVIDE JOHN FRY WITH DEFERRED COMPENSATION. DREXEL UNIVERSITY SHALL CREDIT MR. FRY WITH $200,000 ON JUNE 30, 2016, AND ON EACH FOLLOWING JUNE 30 THROUGH 2020 WHILE HE REMAINS EMPLOYED BY DREXEL UNIVERSITY AS PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE AMOUNT SO CREDITED SHALL ALSO BE CREDITED WITH EARNINGS, GAINS, AND LOSSES BASED ON DEEMED INVESTMENT OPTIONS SELECTED IN ADVANCE BY MR. FRY, SHALL OCCUR ON JUNE 30, 2020, PROVIDED MR. FRY IS EMPLOYED BY DREXEL UNIVERSITY ON THAT DATE. IN THE EVENT MR. FRY'S EMPLOYMENT WITH DREXEL UNIVERSITY IS TERMINATED PRIOR TO JUNE 30, 2020 ON ACCOUNT OF DEATH, DISABILITY, NON-RENEWAL OF THIS AGREEMENT BY THE UNIVERSITY, OR TERMINATION OF HIS EMPLOYMENT BY THE UNIVERSITY OTHER THAN FOR CAUSE, OR HIS RESIGNATION FOR GOOD REASON, THE DEFERRED COMPENSATION, AS ADJUSTED FOR EARNINGS, GAINS AND LOSSES, SHALL BECOME VESTED AND PAYABLE UPON HIS TERMINATION OF EMPLOYMENT. IN THE EVENT MR. FRY VOLUNTARILY TERMINATES HIS EMPLOYMENT WITHOUT GOOD REASON WITH THE UNIVERSITY PRIOR TO JUNE 30, 2020, OR THE UNIVERSITY TERMINATES MR. FRY'S EMPLOYMENT FOR CAUSE, THE DEFERRED COMPENSATION SHALL BE FORFEITED. DREXEL UNIVERSITY (RELATED ORGANIZATION) WILL PROVIDE HELEN BOWMAN WITH A DEFERRED COMPENSATION ARRANGEMENT. ON EACH SEPTEMBER 1, BEGINNING WITH SEPTEMBER 1, 2016 AND ENDING SEPTEMBER 1, 2020, THE UNIVERSITY WILL CREDIT $50,000 TO HER ACCOUNT, PLUS INTEREST ACCRUED IF SHE REMAINS EMPLOYED WITH THE UNIVERSITY. MS. BOWMAN WILL BECOME FULLY VESTED IN THE BALANCE OF HER ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) SEPTEMBER 1, 2020, (II) HER INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MS. BOWMAN RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THIS ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 1B
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc2PART I, LINES 4A-B
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE J, PART II
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NOT APPLICABLE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION SHALL BE OPERATED IN CONNECTION WITH DREXEL UNIVERSITY WITHIN THE MEANING OF SECTION 509(A)(3) OF THE CODE. DREXEL UNIVERSITY SHALL APPOINT THE DIRECTORS OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE WERE NO SUBCOMMITEES FORMED WITHIN THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS SUBMITTED TO THE PRESIDENT OF ACADEMIC ASSETS, INC. FOR REVIEW AND SIGNING AND PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS OF ACADEMIC ASSETS INC. FOR REVIEW BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH YEAR THE DIRECTORS MUST COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE LOCATED AT THE OFFICE OF ACADEMIC PROPERTIES, INC. AND MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INCREASE IN INVESTMENT IN ACADEMIC PROPERTIES, INC. 2,847,272.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINES 7G & 7H
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0ACADEMIC ASSETS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0DREXEL UNIVERSITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ACEDEMIC PROPERTIES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0231352630
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1232411680
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 (C) (3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501 (C) (3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATIONAL INSTITUTION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1PROPERTY MANAGEMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0170(B)(1)(A)(II)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1509(A)(3) TYPE III
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03141 CHESTNUT STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt13601 POWELTON AVE LOWER LEVEL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PHILADELPHIA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1PHILADELPHIA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd019104
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd119104
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$32,252,077
Liabilities
$0
Net assets
$32,252,077
Revenue
$0
Expenses
$0
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.7$0.00$33.7$0.01$0.05$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.2$0.00$31.2$0.01$0.00$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.3$0.00$28.3$0.01$0.00$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.1$0.00$26.1$0.01$0.00$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$0.00$24.1$0.01$0.00$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.5$0.00$28.5$0.00$0.00$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.0$0.00$26.0$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$32.3$0.00$32.3$0.00$0.00$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.4$0.00$29.4$0.00$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$29.4$0.00$29.4$0.00$0.00$0.00
2014Detailed filing. Detailed filing data is available for this year.$28.1$0.00$28.1$0.00$0.00$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.2$0.00$28.2$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.6$0.00$24.6$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.7$0.00$27.7$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.7$0.00$22.7$0.00
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