Academic Properties Inc

Organization Overview

Academic Properties Inc is located in Philadelphia, PA. The organization was established in 1994. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Academic Properties Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academic Properties Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Academic Properties Inc generated $7.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $5.6m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ACQUIRES AND IMPROVES PROPERTIES OF STRATEGIC IMPORTANCE TO THE FUTURE GROWTH OF DREXEL UNIVERSITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOUSING FOR STUDENTS OF DREXEL UNIVERSITY.


RENTAL OF CLASSROOM AND OFFICE SPACE TO DREXEL UNIVERSITY.


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Board, Officers & Key Employees

Name (title)Compensation
Carmen Piccolo
Vice President
$133,066
Tigist Tesfaye
Avp, Finance And Admin
$106,935
John A Fry
Chairman Of The Board
$0
Donald E Moore
President (through 10/20)
$0
Helen Y Bowman
Vice Chair, Treasurer
$0
Rebecca Lacher
Secretary
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Allied Barton Security Services Llc
Security Services
$308,740
Graystone Construction
Construction Services
$795,955
Abm Facility Services Inc
Building Services
$288,829
Gdi Service Inc
Cleaning Services
$237,258
Newmark Knight Frank
Building Services
$248,414
View All Vendors

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$6,054,715
Investment income $4,205
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,343,029
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,526,969

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Academic Properties Inc has recieved totaling $4,675.

Awarding OrganizationAmount
Nick & Paris N Panagos Charitable Tr

Blandon, PA

PURPOSE: TO BENEFIT THE PROGRAMS OF THE ENTITY.

$4,675
View Grant Recipient Profile

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