Civic Intelligence

Naps Property Inc

990 • Fiscal year 2015 • EIN 54-1683946

Jun 01, 2014 to May 31, 2015 • Filed on Apr 11, 2016

Organization ProfileN/A
1727 King Street Suite 400Alexandria, VA 22314

(703) 836-9660

Siviq Scores

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

Liabilities / Assets

39th percentile

0.04x

Higher debt load relative to assets than 39% of similar nonprofits.

2015 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

42nd percentile

0.49x

Higher debt load relative to revenue than 42% of similar nonprofits.

2015 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2015

Net Margin

96th percentile

100%

Higher net margin than 96% of similar nonprofits.

2015 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

74th percentile

$161,493

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 55.2% of source-year revenue.

2015 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2015

Asset Growth

39th percentile

-2.2%

Faster asset growth than 39% of similar nonprofits.

2015 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

92nd percentile

123%

Faster revenue growth than 92% of similar nonprofits.

2015 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets39th percentile

Assets

Down

$4,002,186

Down $88,986 (-2.2%) from 2014

Net Assets

Down

$3,860,283

Down $3,506 (-0.1%) from 2014

Liabilities

Down

$141,903

Down $85,480 (-38%) from 2014

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin96th percentile

Revenue

Up

$292,410

Up $161,469 (+123%) from 2014

Expenses

Flat

$0

Flat from 2014

Net Income

Up

$292,410

Up $161,469 (+123%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$6.0M$4.0M$2.0M$0Assets 2014: $4,091,172Liabilities 2014: $227,383Net Assets 2014: $3,863,7892014Assets 2015: $4,002,186Liabilities 2015: $141,903Net Assets 2015: $3,860,2832015Assets 2016: $3,807,820Liabilities 2016: $148,284Net Assets 2016: $3,659,5362016Assets 2017: $3,690,022Liabilities 2017: $122,551Net Assets 2017: $3,567,4712017Assets 2018: $3,754,042Liabilities 2018: $78,962Net Assets 2018: $3,675,0802018Assets 2019: $3,699,955Liabilities 2019: $177,669Net Assets 2019: $3,522,2862019Assets 2020: $3,394,998Liabilities 2020: $131,802Net Assets 2020: $3,263,1962020Assets 2021: $2,973,049Liabilities 2021: $128,704Net Assets 2021: $2,844,3452021Assets 2022: $2,227,342Liabilities 2022: $80,777Net Assets 2022: $2,146,5652022Assets 2023: $2,167,280Liabilities 2023: $77,995Net Assets 2023: $2,089,2852023Assets 2024: $2,017,149Liabilities 2024: $64,625Net Assets 2024: $1,952,5242024

Highlighted filing

2015

Assets$4,002,186
Liabilities$141,903
Net Assets$3,860,283
Open 2015 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2014: $130,941Expenses 2014: $0Net Income 2014: $130,9412014Revenue 2015: $292,410Expenses 2015: $0Net Income 2015: $292,4102015Revenue 2016: $1,264,635Expenses 2016: $1,030,382Net Income 2016: $234,2532016Revenue 2017: $1,245,099Expenses 2017: $1,067,164Net Income 2017: $177,9352017Revenue 2018: $1,187,437Expenses 2018: $1,079,828Net Income 2018: $107,6092018Revenue 2019: $942,828Expenses 2019: $1,095,622Net Income 2019: -$152,7942019Revenue 2020: $896,019Expenses 2020: $1,155,109Net Income 2020: -$259,0902020Revenue 2021: $748,441Expenses 2021: $1,167,292Net Income 2021: -$418,8512021Revenue 2022: $380,191Expenses 2022: $1,077,971Net Income 2022: -$697,7802022Revenue 2023: $869,005Expenses 2023: $926,285Net Income 2023: -$57,2802023Revenue 2024: $772,537Expenses 2024: $909,298Net Income 2024: -$136,7612024

Highlighted filing

2015

Revenue$292,410
Expenses$0
Net Income$292,410
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2014 to May 31, 2015
Signed
Apr 11, 2016
Return Version
2014v6.0
Gross Receipts
$1,263,929
Mission and Program Overview

Mission

To hold title and collect rental income, pay expenses, and distribute net income to the national association of postal supervisors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,605,926$3,411,111▼ $194,815
Prepaid Expenses and Deferred Charges$285,995$332,803▲ $46,808
Cash and Non-Interest-Bearing Accounts$194,637$234,299▲ $39,662
Accounts Receivable$4,614$23,973▲ $19,359
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$4,091,172$4,002,186▼ $88,986
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$165,970$55,705▼ $110,265
Deferred Revenue$25,055$49,840▲ $24,785
Other Liabilities$36,358$36,358→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$227,383$141,903▼ $85,480
Net Assets / Fund Balance
Unrestricted Net Assets$3,863,789$3,860,283▼ $3,506
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$3,863,789$3,860,283▼ $3,506
Total Liabilities and Net Assets / Fund Balance$4,091,172$4,002,186▼ $88,986

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,411,111$2,875,930$6,287,041
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleOtherTotal
Brian J WagnerSecretary & Treasurer$146,087$146,087
James F Killackey IiiExec. Vice-pres.(thr. 09-2014)$142,912$142,912
Ivan ButtsExec. Vice-pres.(eff. 09-2014)$45,374$45,374

Board Members and Trustees

NameTitle
Louis M AtkinsPresident

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$292,410
Change in Net Assets
$292,410
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$36,358
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Naps Property Inc
EIN
54-1683946
In Care Of
% BRIAN J WAGNER
Phone
7038369660
Address
1727 KING STREET SUITE 400, ALEXANDRIA, VA 22314

Signing Officer

Name
Brian J Wagner
Title
Secretary/Treasurer
Phone
7038369660
Signed
2016-04-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louis M Atkins
Formed
1993
Legal Domicile
De
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
Cohnreznick Llp
Address
7501 WISCONSIN AVENUE SUITE 400E, BETHESDA, MD 20814-6583
Preparer
DANIEL O'SHEA
Phone
3016529100
Supplemental Narrative

Additional Explanations

Delegation of Managerial Duties to A Management Company

“PART VI, QUESTION 3 Stoladi Property Group is a commercial real estate management company which provides professional services for NAPS Property, Inc., as well as other organizations.”

Documentation of Meetings or Actions of Comm. Acting on Behalf of Board

“Part vi, question 8b no such committees exist.”

Process by Which the Board Reviews the 990

“PART VI, QUESTION 11B A draft of the 990 is provided to the Board who reviews the return before it is filed.”

Availability of Documents

“Part vi, question 19 naps property, inc. Does not make its governing documents or financial statements available to the public.”

Compensation of Officers

“Part vi, line 15a and 15b naps property inc. Does not have employees and does not compensate its officers.”

Financial Statement Notes

Fin 48 Footnote

“PART X, Line 2 NPI believes that it has appropriate support for any tax positions taken, and, as such, it does not have any uncertain tax positions that are material to the consolidated financial statements. NPI recognizes interest expense and penalties related to unrecognized tax benefits in general and administration expenses in income from building operations on the consolidated statements of activities and change in net assets. There is no provision in these consolidated financial statements for penalties and interest related to unrecognized tax benefits for the years ended May 31, 2015 and 2014. TAX YEARS PRIOR TO 2011 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS OR THE TAX JURISDICTION OF THE COMMONWEALTH OF VIRGINIA.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PART X, Line 2 NPI believes that it has appropriate support for any tax positions taken, and, as such, it does not have any uncertain tax positions that are material to the consolidated financial statements. NPI recognizes interest expense and penalties related to unrecognized tax benefits in general and administration expenses in income from building operations on the consolidated statements of activities and change in net assets. There is no provision in these consolidated financial statements for penalties and interest related to unrecognized tax benefits for the years ended May 31, 2015 and 2014. TAX YEARS PRIOR TO 2011 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS OR THE TAX JURISDICTION OF THE COMMONWEALTH OF VIRGINIA.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FIN 48 FOOTNOTE
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IRS990ScheduleD/TotalLiabilityAmt036358
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LOUIS M ATKINS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0161493
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PART VI, QUESTION 3 Stoladi Property Group is a commercial real estate management company which provides professional services for NAPS Property, Inc., as well as other organizations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PART VI, QUESTION 8B NO SUCH COMMITTEES EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PART VI, QUESTION 11B A draft of the 990 is provided to the Board who reviews the return before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PART VI, QUESTION 19 NAPS PROPERTY, INC. DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PART VI, LINE 15A AND 15B NAPS PROPERTY INC. DOES NOT HAVE EMPLOYEES AND DOES NOT COMPENSATE ITS OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0DELEGATION OF MANAGERIAL DUTIES TO A MANAGEMENT COMPANY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1DOCUMENTATION OF MEETINGS OR ACTIONS OF COMM. ACTING ON BEHALF OF BOARD
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PROCESS BY WHICH THE BOARD REVIEWS THE 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3AVAILABILITY OF DOCUMENTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4COMPENSATION OF OFFICERS
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1NAPS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NAT'L ASS'N OF POSTAL SUPERVISORS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Supervisors Political Action Committee
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0530188062
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1521115597
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(5)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROF. ASS'N
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1POL. ACTIVITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01727 KING STREET SUITE 400
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11727 King Street Suite 400
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ALEXANDRIA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Alexandria
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd122314
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04091172
IRS990/TotalAssetsEOYAmt04002186
IRS990/TotalAssetsGrp/BOYAmt04091172
IRS990/TotalAssetsGrp/EOYAmt04002186
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IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt0141903
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03860283
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IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04002186
IRS990/TotReportableCompRltdOrgAmt0495866
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03863789
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03860283
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0ALEXANDRIA
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd022314
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN J WAGNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary/Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum07038369660
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NAPS PROPERTY INC
ReturnHeader/Filer/BusinessNameControlTxt0NAPS
ReturnHeader/Filer/EIN0541683946
ReturnHeader/Filer/InCareOfNm0% BRIAN J WAGNER
ReturnHeader/Filer/PhoneNum07038369660
ReturnHeader/Filer/USAddress/AddressLine1Txt01727 KING STREET SUITE 400
ReturnHeader/Filer/USAddress/CityNm0ALEXANDRIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd022314
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COHNREZNICK LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07501 WISCONSIN AVENUE SUITE 400E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BETHESDA

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,002,186
Liabilities
$141,903
Net assets
$3,860,283
Revenue
$292,410
Expenses
$0
Net income
$292,410
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.02$0.06$1.95$0.77$0.91$0.14
2023Detailed filing. Detailed filing data is available for this year.$2.17$0.08$2.09$0.87$0.93$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.23$0.08$2.15$0.38$1.08$0.70
2021Detailed filing. Detailed filing data is available for this year.$2.97$0.13$2.84$0.75$1.17$0.42
2020Detailed filing. Detailed filing data is available for this year.$3.39$0.13$3.26$0.90$1.16$0.26
2019Detailed filing. Detailed filing data is available for this year.$3.70$0.18$3.52$0.94$1.10$0.15
2018Detailed filing. Detailed filing data is available for this year.$3.75$0.08$3.68$1.19$1.08$0.11
2017Detailed filing. Detailed filing data is available for this year.$3.69$0.12$3.57$1.25$1.07$0.18
2016Detailed filing. Detailed filing data is available for this year.$3.81$0.15$3.66$1.26$1.03$0.23
2015Detailed filing. Detailed filing data is available for this year.$4.00$0.14$3.86$0.29$0.00$0.29
2014Detailed filing. Detailed filing data is available for this year.$4.09$0.23$3.86$0.13$0.00$0.13