Naps Property Inc
- Assets
- $2.2m
- Revenue
- $869.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 02/1994
- Data as of
- 05/2023
- EIN
- 54-1683946
Organization Overview
Naps Property Inc is located in Alexandria, VA. The organization was established in 1994. 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. Naps Property 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 05/2023, Naps Property Inc generated $869.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $926.3k during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAPS PROPERTY, INC. LEASED COMMERCIAL OFFICE SPACE LOCATED AT 1727 AND 1729 KING STREET IN ALEXANDRIA, VIRGINIA TO TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ivan Butts President | OfficerTrustee | 1 | $0 |
Charles A Mulidore Exec. Vice President | OfficerTrustee | 1 | $0 |
James Warden Secretary/treasurer | OfficerTrustee | 5 | $0 |
Brian J Wagner Immediate Past President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Usmcvp Llc Tenant Improvements | 5/30/18 | $158,425 |
Stoladi Property Group Property Management | 5/30/18 | $238,181 |
Berkshire Hathaway Inc Leasing Commission | 5/30/18 | $113,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $599,306 |
| 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 | $599,306 |
| Total Program Service Revenue | $269,699 |
| Investment income | $0 |
| 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 | $869,005 |
| 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 | $219,379 |
| Fees for services: Legal | $2,584 |
| Fees for services: Accounting | $5,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,188 |
| Office expenses | $49,702 |
| Information technology | $10,390 |
| Royalties | $0 |
| Occupancy | $165,118 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,004 |
| Insurance | $22,137 |
| All other expenses | $0 |
| Total functional expenses | $926,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,635 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$6,024 |
| 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 | $63,937 |
| Net Land, buildings, and equipment | $1,975,732 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,167,280 |
| Accounts payable and accrued expenses | $51,947 |
| Grants payable | $0 |
| Deferred revenue | $4,101 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $21,947 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $77,995 |
| Net assets without donor restrictions | $2,089,285 |
| 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 | $2,167,280 |