Civic Intelligence

Naps Property Inc

990 • Fiscal year 2019 • EIN 54-1683946

Jun 01, 2018 to May 31, 2019 • Filed on Mar 23, 2020

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

42nd percentile

0.05x

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

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

38th percentile

0.19x

Higher debt load relative to revenue than 38% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Net Margin

23rd percentile

-16%

Higher net margin than 23% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

74th percentile

$171,857

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 18.2% of source-year revenue.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Asset Growth

42nd percentile

-1.4%

Faster asset growth than 42% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

17th percentile

-21%

Faster revenue growth than 17% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Down

$3,699,955

Down $54,087 (-1.4%) from 2018

Net Assets

Down

$3,522,286

Down $152,794 (-4.2%) from 2018

Liabilities

Up

$177,669

Up $98,707 (+125%) from 2018

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin23rd percentile

Revenue

Down

$942,828

Down $244,609 (-21%) from 2018

Expenses

Up

$1,095,622

Up $15,794 (+1.5%) from 2018

Net Income

Down

-$152,794

Down $260,403 (-242%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2019

Assets$3,699,955
Liabilities$177,669
Net Assets$3,522,286
Open 2019 Filing

Operations Trend

Revenue Growth17th 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

2019

Revenue$942,828
Expenses$1,095,622
Net Income-$152,794
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Mar 23, 2020
Return Version
2018v3.1
Gross Receipts
$942,828
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.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,019,464$2,925,746▼ $93,718
Cash and Non-Interest-Bearing Accounts$463,715$421,668▼ $42,047
Prepaid Expenses and Deferred Charges$251,605$287,095▲ $35,490
Accounts Receivable$19,258$65,446▲ $46,188
Total Assets$3,754,042$3,699,955▼ $54,087
Liabilities
Accounts Payable and Accrued Expenses$22,102$125,269▲ $103,167
Other Liabilities$45,662$52,400▲ $6,738
Deferred Revenue$11,198--
Total Liabilities$78,962$177,669▲ $98,707
Net Assets / Fund Balance
Unrestricted Net Assets$3,675,080$3,522,286▼ $152,794
Total Net Assets Fund Balance$3,675,080$3,522,286▼ $152,794
Total Liabilities and Net Assets / Fund Balance$3,754,042$3,699,955▼ $54,087

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,925,746$3,315,181$6,240,927
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Brian J WagnerPresident
Ivan ButtsExec. Vice President
Charles a MulidoreSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Stoladi Property GroupProperty Management1636 CONNECTICUT AVENUE NW SUITE, Washington, DC 20009$188,956
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$942,828
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-152,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,095,622
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---$293,167
Depreciation Depletion---$187,661
Fees for Services Management---$155,042
Other Expenses---$61,056
Office Expenses---$51,328
Insurance---$17,645
Advertising---$8,448
Information Technology---$6,987
Fees for Services Accounting---$2,400
Fees for Services Legal---$1,390
Total Functional Expenses$0$0$0$1,095,622
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$52,400
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

Form 990, Part VI, Section A, 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.”

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

“No such committees exist.”

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

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

Form 990, Part VI, Section B, Line 15

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

Form 990, Part VI, Section C, 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
Phone
7038369660
Address
1727 KING STREET SUITE 400, ALEXANDRIA, VA 22314

Signing Officer

Name
Charles a Mulidore
Title
Secretary/treasurer
Phone
7038369660
Signed
2020-03-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian J Wagner
Formed
1993
Legal Domicile
De
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

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

Additional Explanations

Form 990, Part I, Line 1

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

Financial Statement Notes

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 (loss) 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 year ended may 31, 2019. Tax years prior to 2015 are no longer subject to examination by the irs or the tax jurisdiction of the commonwealth of virginia.”

Raw XML Appendix395 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/SupplementalInformationDetail/ExplanationTxt0NPI 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 (LOSS) 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 YEAR ENDED MAY 31, 2019. TAX YEARS PRIOR TO 2015 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS OR THE TAX JURISDICTION OF THE COMMONWEALTH OF VIRGINIA.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2IVAN BUTTS
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2EXEC. VICE PRESIDENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO HOLD TITLE AND COLLECT RENTAL INCOME, PAY EXPENSES, AND DISTRIBUTE NET INCOME TO THE NATIONAL ASSOCIATION OF POSTAL SUPERVISORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STOLADI PROPERTY GROUP IS A COMMERCIAL REAL ESTATE MANAGEMENT COMPANY WHICH PROVIDES PROFESSIONAL SERVICES FOR NAPS PROPERTY, INC., AS WELL AS OTHER ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO SUCH COMMITTEES EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DRAFT OF THE 990 IS PROVIDED TO THE BOARD WHO REVIEWS THE RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NAPS PROPERTY, INC. DOES NOT HAVE EMPLOYEES AND DOES NOT COMPENSATE ITS OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NAPS PROPERTY, INC. DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROFESSIONAL ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1POLITICAL ACTIVITY
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IRS990ScheduleR/PaidEmployeesSharingInd00
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt03754042
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IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-09-10 13:11:23Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES A MULIDORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07038369660
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NAPS PROPERTY INC
ReturnHeader/Filer/BusinessNameControlTxt0NAPS
ReturnHeader/Filer/EIN0541683946
ReturnHeader/Filer/PhoneNum07038369660
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.59.242.22
ReturnHeader/FilingSecurityInformation/IPDt02020-03-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm007:43:06
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0221478099
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COHNREZNICK LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07501 WISCONSIN AVENUE SUITE 400E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BETHESDA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020814
ReturnHeader/PreparerPersonGrp/PhoneNum03016529100
ReturnHeader/PreparerPersonGrp/PreparationDt02020-03-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL O'SHEA
ReturnHeader/ReturnTs02020-03-25T06:51:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-06-01
ReturnHeader/TaxPeriodEndDt02019-05-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,699,955
Liabilities
$177,669
Net assets
$3,522,286
Revenue
$942,828
Expenses
$1,095,622
Net income
-$152,794
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