Civic Intelligence

Naps Property Inc

990 • Fiscal year 2017 • EIN 54-1683946

Jun 01, 2016 to May 31, 2017 • Filed on Oct 15, 2017

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

37th percentile

0.03x

Higher debt load relative to assets than 37% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

33rd percentile

0.10x

Higher debt load relative to revenue than 33% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Net Margin

48th percentile

14%

Higher net margin than 48% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

70th percentile

$163,291

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 13.1% of source-year revenue.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2017

Asset Growth

28th percentile

-3.1%

Faster asset growth than 28% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

33rd percentile

-1.5%

Faster revenue growth than 33% of similar nonprofits.

2017 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$3,690,022

Down $117,798 (-3.1%) from 2016

Net Assets

Down

$3,567,471

Down $92,065 (-2.5%) from 2016

Liabilities

Down

$122,551

Down $25,733 (-17%) from 2016

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin48th percentile

Revenue

Down

$1,245,099

Down $19,536 (-1.5%) from 2016

Expenses

Up

$1,067,164

Up $36,782 (+3.6%) from 2016

Net Income

Down

$177,935

Down $56,318 (-24%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2017

Assets$3,690,022
Liabilities$122,551
Net Assets$3,567,471
Open 2017 Filing

Operations Trend

Revenue Growth33rd 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

2017

Revenue$1,245,099
Expenses$1,067,164
Net Income$177,935
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2016 to May 31, 2017
Signed
Oct 15, 2017
Return Version
2016v3.1
Gross Receipts
$1,245,099
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$3,124,984$2,883,710▼ $241,274
Cash and Non-Interest-Bearing Accounts$345,665$541,518▲ $195,853
Prepaid Expenses and Deferred Charges$328,140$245,354▼ $82,786
Accounts Receivable$9,031$19,440▲ $10,409
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$3,807,820$3,690,022▼ $117,798
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$101,416$70,968▼ $30,448
Other Liabilities$36,358$51,583▲ $15,225
Deferred Revenue$10,510$0▼ $10,510
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$148,284$122,551▼ $25,733
Net Assets / Fund Balance
Unrestricted Net Assets$3,659,536$3,567,471▼ $92,065
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$3,659,536$3,567,471▼ $92,065
Total Liabilities and Net Assets / Fund Balance$3,807,820$3,690,022▼ $117,798

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,883,710$3,132,782$6,016,492
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Ivan ButtsExec. Vice-president-$146,278$146,278
Charles a MulidoreSEC'Y/TREASURER (EFF. 09-2016)PT$51,559$51,559

Board Members and Trustees

NameTitle
Brian J WagnerPresident (as of Sept. 2016)
Louis M AtkinsPresident (through Sept. 2016)

Highest Paid Contractors

ContractorServicesLocationCompensation
Stoladi Property GroupProperty Management1636 Connecticut Avenue NW Suite, Washington, DC 20009$156,209
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,243,873
Investment Income
$1,226
Other Revenue
$0
Change in Net Assets
$177,935
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,067,164
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$289,556
Depreciation Depletion---$252,474
Fees for Services Management---$147,248
Other Expenses---$128,665
Office Expenses---$33,298
Insurance---$15,460
Information Technology---$5,254
Advertising---$5,160
Fees for Services Legal---$2,589
Total Functional Expenses$0$0$0$1,067,164
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$51,583
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

Governance Explanations

PART VI, Line 3

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

PART VI, Line 8B

“No such committees exist.”

PART VI, Line 11B

“A draft of the 990 is provided to the Board who reviews the return before it is filed.”

Part VI, Lines 15A and 15B

“Naps property inc. Does not have employees and does not compensate its officers.”

PART VI, Line 19

“Naps property, inc. Does not make its governing documents or financial statements available to the public.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Charles a Mulidore
Title
Secretary/Treasurer
Phone
7038369660
Signed
2017-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian J Wagner
Formed
1993
Legal Domicile
De
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

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

Additional Explanations

Part XI, Line 9

“Distribution of Net Income to National Association of Postal Supervisors $270,000”

Financial Statement Notes

PART X, Line 2

“FIN 48 FOOTNOTE 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, 2017 and 2016. TAX YEARS PRIOR TO 2013 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS.”

Raw XML AppendixShowing 400 of 436 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 FOOTNOTE 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, 2017 and 2016. TAX YEARS PRIOR TO 2013 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1BRIAN J WAGNER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Stoladi Property Group is a commercial real estate management company which provides professional services for NAPS Property, Inc., as well as other organizations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO SUCH COMMITTEES EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A draft of the 990 is provided to the Board who reviews the return before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NAPS PROPERTY INC. DOES NOT HAVE EMPLOYEES AND DOES NOT COMPENSATE ITS OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NAPS PROPERTY, INC. DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Distribution of Net Income to National Association of Postal Supervisors $270,000
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, LINES 15A AND 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART XI, LINE 9
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,690,022
Liabilities
$122,551
Net assets
$3,567,471
Revenue
$1,245,099
Expenses
$1,067,164
Net income
$177,935
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