Civic Intelligence

Naps Property Inc

990 • Fiscal year 2018 • EIN 54-1683946

Jun 01, 2017 to May 31, 2018 • Filed on Apr 05, 2019

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

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

2018 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

30th percentile

0.07x

Higher debt load relative to revenue than 30% of similar nonprofits.

2018 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2018

Net Margin

45th percentile

9.1%

Higher net margin than 45% of similar nonprofits.

2018 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

73rd percentile

$167,469

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 14.1% of source-year revenue.

2018 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2018

Asset Growth

70th percentile

1.7%

Faster asset growth than 70% of similar nonprofits.

2018 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

28th percentile

-4.6%

Faster revenue growth than 28% of similar nonprofits.

2018 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$3,754,042

Up $64,020 (+1.7%) from 2017

Net Assets

Up

$3,675,080

Up $107,609 (+3.0%) from 2017

Liabilities

Down

$78,962

Down $43,589 (-36%) from 2017

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin45th percentile

Revenue

Down

$1,187,437

Down $57,662 (-4.6%) from 2017

Expenses

Up

$1,079,828

Up $12,664 (+1.2%) from 2017

Net Income

Down

$107,609

Down $70,326 (-40%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2018

Assets$3,754,042
Liabilities$78,962
Net Assets$3,675,080
Open 2018 Filing

Operations Trend

Revenue Growth28th 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

2018

Revenue$1,187,437
Expenses$1,079,828
Net Income$107,609
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Apr 5, 2019
Return Version
2017v2.3
Gross Receipts
$1,187,437
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$2,883,710$3,019,464▲ $135,754
Cash and Non-Interest-Bearing Accounts$541,518$463,715▼ $77,803
Prepaid Expenses and Deferred Charges$245,354$251,605▲ $6,251
Accounts Receivable$19,440$19,258▼ $182
Total Assets$3,690,022$3,754,042▲ $64,020
Liabilities
Other Liabilities$51,583$45,662▼ $5,921
Accounts Payable and Accrued Expenses$70,968$22,102▼ $48,866
Deferred Revenue-$11,198-
Total Liabilities$122,551$78,962▼ $43,589
Net Assets / Fund Balance
Unrestricted Net Assets$3,567,471$3,675,080▲ $107,609
Total Net Assets Fund Balance$3,567,471$3,675,080▲ $107,609
Total Liabilities and Net Assets / Fund Balance$3,690,022$3,754,042▲ $64,020

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,019,464$3,338,424$6,357,888
Compensation and Service Providers
Top Officer Pay73rd 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$238,181
Usmcvp LLCTenant Improvements2121 EISENHOWER AVENUE SUITE 200, Alexandria, VA 22314$158,425
Berkshire Hathaway INCLeasing Commission1171 CENTRAL PARK BLVD, Fredericksburg, VA 22401$113,926
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,187,088
Investment Income
$349
Other Revenue
$0
Change in Net Assets
$107,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,079,828
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---$296,294
Depreciation Depletion---$240,957
Fees for Services Management---$157,711
Other Expenses---$124,604
Office Expenses---$33,130
Insurance---$17,425
Information Technology---$7,099
Advertising---$7,050
Fees for Services Legal---$5,029
Fees for Services Accounting---$2,330
Travel---$143
Total Functional Expenses$0$0$0$1,079,828
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$45,662
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
2019-04-05
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 from building operations on the consolidated statements of activities and change in net assets. There is no provision in the consolidated financial statements for penalties and interest related to unrecognized tax benefits for the years ended may 31, 2018 and 2017. Tax years prior to 2014 are no longer subject to examination by the irs. Or the tax jurisdiction of the commonwealth of virginia.”

Raw XML AppendixShowing 400 of 407 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRIAN J WAGNER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CHARLES A MULIDORE
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/PaidEmployeesSharingInd00
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES A MULIDORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-05
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0221478099
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COHNREZNICK LLP
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BETHESDA
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,754,042
Liabilities
$78,962
Net assets
$3,675,080
Revenue
$1,187,437
Expenses
$1,079,828
Net income
$107,609
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