Student Agencies Properties Inc
- Assets
- $25.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- Data as of
- 12/2021
- EIN
- 15-0461430
Organization Overview
Student Agencies Properties Inc is located in Ithaca, NY. Student Agencies Properties Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Student Agencies Properties Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 3.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HOLDING TITLE TO PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEASING PROPERTY AS PART OF THE FUNCTIONALLY RELATED MISSION OF THE RELATED 501(C)3 ENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Eisenberg Chair | OfficerTrustee | 5 | $0 |
Kyle Karnes Secretary/treasurer | OfficerTrustee | 5 | $0 |
Sharon Dauk Vice Chair | OfficerTrustee | 5 | $0 |
Charles Lee President | OfficerTrustee | 5 | $0 |
David Lesser Director | Trustee | 5 | $0 |
Alexander Liem Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,513,297 |
| Investment income | $305 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$20,428 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,493,174 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $93,494 |
| Fees for services: Legal | $32,379 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,287 |
| Advertising and promotion | $7,578 |
| Office expenses | $83 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $386,624 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $432,601 |
| Insurance | $88,638 |
| All other expenses | -$131,245 |
| Total functional expenses | $1,493,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,035 |
| Savings and temporary cash investments | $279,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,246 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $350,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,189 |
| Net Land, buildings, and equipment | $24,421,083 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$111,590 |
| Total assets | $25,272,184 |
| Accounts payable and accrued expenses | $1,286,806 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,099,351 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,885,028 |
| Total liabilities | $25,271,185 |
| Net assets without donor restrictions | $999 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,272,184 |
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