Civic Intelligence

Naps Property Inc

990 • Fiscal year 2021 • EIN 54-1683946

Jun 01, 2020 to May 31, 2021 • Filed on Apr 07, 2022

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

44th percentile

0.04x

Higher debt load relative to assets than 44% of similar nonprofits.

2021 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

39th percentile

0.17x

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

2021 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2021

Net Margin

13th percentile

-56%

Higher net margin than 13% of similar nonprofits.

2021 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

77th percentile

$177,376

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 23.7% of source-year revenue.

2021 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2021

Asset Growth

5th percentile

-12%

Faster asset growth than 5% of similar nonprofits.

2021 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

24th percentile

-16%

Faster revenue growth than 24% of similar nonprofits.

2021 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets44th percentile

Assets

Down

$2,973,049

Down $421,949 (-12%) from 2020

Net Assets

Down

$2,844,345

Down $418,851 (-13%) from 2020

Liabilities

Down

$128,704

Down $3,098 (-2.4%) from 2020

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin13th percentile

Revenue

Down

$748,441

Down $147,578 (-16%) from 2020

Expenses

Up

$1,167,292

Up $12,183 (+1.1%) from 2020

Net Income

Down

-$418,851

Down $159,761 (-62%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2021

Assets$2,973,049
Liabilities$128,704
Net Assets$2,844,345
Open 2021 Filing

Operations Trend

Revenue Growth24th 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

2021

Revenue$748,441
Expenses$1,167,292
Net Income-$418,851
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Apr 7, 2022
Return Version
2020v4.2
Gross Receipts
$748,441
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$2,732,423$2,546,950▼ $185,473
Prepaid Expenses and Deferred Charges$335,528$355,058▲ $19,530
Cash and Non-Interest-Bearing Accounts$262,528$71,041▼ $191,487
Accounts Receivable$64,519--
Total Assets$3,394,998$2,973,049▼ $421,949
Liabilities
Accounts Payable and Accrued Expenses$69,663$70,826▲ $1,163
Other Liabilities$52,400$48,743▼ $3,657
Deferred Revenue$9,739$9,135▼ $604
Total Liabilities$131,802$128,704▼ $3,098
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,263,196$2,844,345▼ $418,851
Total Net Assets Fund Balance$3,263,196$2,844,345▼ $418,851
Total Liabilities and Net Assets / Fund Balance$3,394,998$2,973,049▼ $421,949

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,546,950$3,709,377$6,256,327
Compensation and Service Providers
Top Officer Pay77th 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$197,808
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$748,211
Investment Income
$230
Other Revenue
$0
Change in Net Assets
$-418,851
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,167,292
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---$226,712
Depreciation Depletion---$195,423
Fees for Services Management---$164,866
Other Expenses---$124,179
Office Expenses---$50,414
Insurance---$18,522
Information Technology---$11,653
Advertising---$2,071
Fees for Services Accounting---$1,325
Fees for Services Legal---$871
Total Functional Expenses$0$0$0$1,167,292
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$48,743
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
James Warden
Title
Secretary/treasurer
Phone
7038369660
Signed
2022-04-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ivan Butts
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, DESCRIPTION OF ORGANIZATION MISSION:

“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 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 years ended may 31, 2021 and 2020. Tax years prior to 2017 are no longer subject to examination by the irs or the tax jurisdiction of the commonwealth of virginia.”

Raw XML Appendix394 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/PersonNm1IVAN BUTTS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2CHARLES A MULIDORE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1EXEC. VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2SECRETARY/TREASURER
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1169473
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2167965
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
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, DESCRIPTION OF ORGANIZATION MISSION:
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/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1SUPERVISORS POLITICAL ACTION COMMITTEE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1521115597
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1POLITICAL ACTIVITY
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
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/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt03394998
IRS990/TotalAssetsGrp/EOYAmt02973049
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IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES WARDEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07038369660
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NAPS PROPERTY INC
ReturnHeader/Filer/BusinessNameControlTxt0NAPS
ReturnHeader/Filer/EIN0541683946
ReturnHeader/Filer/PhoneNum07038369660
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ReturnHeader/Filer/USAddress/CityNm0ALEXANDRIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd022314
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/PreparationDt02022-04-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL O'SHEA
ReturnHeader/ReturnTs02022-04-12T08:46:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JAMES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WARDEN
ReturnHeader/TaxPeriodBeginDt02020-06-01
ReturnHeader/TaxPeriodEndDt02021-05-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,973,049
Liabilities
$128,704
Net assets
$2,844,345
Revenue
$748,441
Expenses
$1,167,292
Net income
-$418,851
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