Nasco Properties Inc
- Assets
- $6.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 08/1988
- Data as of
- 04/2023
- EIN
- 38-2801692
Organization Overview
Nasco Properties Inc is located in Chicago, IL. The organization was established in 1988. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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. Nasco 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 04/2023, Nasco Properties Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $1.3m during the year ending 04/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE SOCIAL WELFARE OF THE COMMUNITY BY DEVELOPING LOW-RENT HOUSING FOR ITS MEMBERS, REGARDLESS OF RACE, CREED, COLOR, SEXUAL ORIENTATION OR NATIONAL ORIGIN & THUS INFLUENCE THE COMMUNITY TO ELIMINATE PREJUDICE & DISCRIMINATION IN HOUSING; ADVANCE THE CAUSE OF EDUCATION BY DEVELOPING LOW COST HOUSING FOR UNIVERSITY STUDENTS WITH LIMITED RESOURCES, SO THAT THOSE WHO MIGHT NOT OTHERWISE BE ABLE TO CONTINUE AT THE UNIVERSITY BECAUSE OF ECONOMIC NEED MIGHT ENJOY THE FRUITS & BENEFITS OF HIGHER EDUCATION; RELIEVE GOVERNMENTS OF VARIOUS STATES FROM THE BURDEN OF BUILDING & OPERATING STATE OWNED DORMITORIES BY CREATING HOUSING FACILITIES FOR STUDENTS AT LOW COST ON A COOPERATIVE BASIS; & TO CONTINUALLY EXPAND THOSE FACILITIES IN THE COMMUNITY INTEREST; INITIATE, COORDINATE, DIRECT & OTHERWISE PARTICIPATE IN EDUCATIONAL EFFORTS & PROGRAM FOR THE EDUCATION OF ITS MEMBERS & THE GENERAL PUBLIC IN THE PHILOSOPHY, PRINCIPLES & PRACTICES OF ALL COOPERATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELD TITLES AND MANAGED PROPERTIES LEASED TO COOPERATIVES HOUSING STUDENTS AND YOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seven Rockhold President | OfficerTrustee | 2 | $0 |
Shining Li Vice President | OfficerTrustee | 2 | $0 |
Jason Tompkins Treasurer | OfficerTrustee | 2 | $0 |
Kathryn Solorzano Lowell Director | Trustee | 1 | $0 |
Sophie Kish Director | Trustee | 1 | $0 |
Jack Popovich Director | Trustee | 1 | $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 | $1,116,135 |
| Investment income | $7,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,123,682 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $362 |
| 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 | $86,131 |
| Fees for services: Legal | $6,978 |
| Fees for services: Accounting | $13,504 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $361,268 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,152 |
| Interest | $236,034 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $232,203 |
| Insurance | $126,242 |
| All other expenses | $58,775 |
| Total functional expenses | $1,280,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,165 |
| Savings and temporary cash investments | $54,982 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $683,414 |
| 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 | $87,978 |
| Net Land, buildings, and equipment | $5,697,687 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $253,874 |
| Intangible assets | $0 |
| Other assets | $213 |
| Total assets | $6,789,313 |
| Accounts payable and accrued expenses | $142,099 |
| Grants payable | $0 |
| Deferred revenue | $35,883 |
| 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 | $3,513,324 |
| Unsecured mortgages and notes payable | $20,099 |
| Other liabilities | $120,829 |
| Total liabilities | $3,832,234 |
| Net assets without donor restrictions | $2,957,079 |
| 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 | $6,789,313 |