Nso Properties
- Assets
- $10.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 03/2004
- Data as of
- 09/2021
- EIN
- 30-0190264
Organization Overview
Nso Properties is located in Detroit, MI. The organization was established in 2004. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nso Properties 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 09/2021, Nso Properties generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $2.3m during the year ending 09/2021. While expenses have increased by 26.3% per year over the past 6 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
NSO PROPERTIES' EXEMPT PURPOSE IS TO HOLD TITLE TO THE ASSETS OF NEIGHBORHOOD SERVICE ORGANIZATION - A 501(C)(2) NON PROFIT IN THE STATE OF MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NSO PROPERTIES LEASES RESIDENTIAL LAND AND COMMERCIAL BUILDINGS TO NEIGHBORHOOD SERVICE ORGANIZATION AND OTHER ORGANIZATIONS. THE NET INCOME DERIVED FROM THESE ACTIVITIES IS AVAILABLE FOR DISTRIBUTION TO NEIGHBORHOOD SERVICE ORGANIZATION TO SUPPORT THEIR PROGRAMS AND SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alger Lahood Board Member - Nsop Chair | OfficerTrustee | 0.5 | $0 |
Thomas Tuskey Board Member - Nsop Secretary | OfficerTrustee | 0.5 | $0 |
Gregory Terrell Board Member - Nsop Treasurer | OfficerTrustee | 0.5 | $0 |
Linda Little Board Member | Trustee | 0.5 | $0 |
Dajuan Smith Board Member | Trustee | 2 | $0 |
Kate Spratt Board Member | Trustee | 0.5 | $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 | $1,019,158 |
| Investment income | $112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,445,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,478,176 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500,000 |
| 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 | $38,773 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,953 |
| Payroll taxes | $2,711 |
| Fees for services: Management | $54,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,630 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $3,688 |
| Royalties | $0 |
| Occupancy | $329,797 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,128 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $356,382 |
| Insurance | $20,606 |
| All other expenses | $170 |
| Total functional expenses | $2,339,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,175,365 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $885,476 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $415 |
| Net Land, buildings, and equipment | $7,954,926 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,016,182 |
| Accounts payable and accrued expenses | $77,587 |
| 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 | $229,139 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,335 |
| Total liabilities | $309,061 |
| Net assets without donor restrictions | $9,707,121 |
| 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 | $10,016,182 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Strs Ohio Tx Real Estate Investments Inc Columbus, OH | $220,303,180 | $20,609,768 |
Columbus Association Of Realtors Columbus, OH | $9,934,028 | $6,554,174 |
Imh Realty Corporation Franklin, IN | $84,073,233 | $0 |
River Park Community Corp Dayton, OH | $44,515,596 | $4,317,871 |
Nso Properties Detroit, MI | $10,016,182 | $2,478,176 |
Greater Milwaukee Association Of Realtors Inc Milwaukee, WI | $7,902,612 | $2,380,526 |
Yswin Development Inc Evansville, IN | $15,509,584 | $1,301,817 |
Realtors Associations Of Northeast Wisconsin Inc Appleton, WI | $6,876,231 | $1,366,137 |
Kosciusko Community Ymca Building Corporation Warsaw, IN | $0 | $738,000 |
Jvs Blue Ash Cincinnati, OH | $0 | $0 |
Zbt National Housing Inc Carmel, IN | $5,637,243 | $1,013,179 |
Mrm North Campus Inc Milwaukee, WI | $19,031,963 | $894,597 |