Naps Property Inc
- Assets
- $2.2m
- Revenue
- $380.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 02/1994
- Data as of
- 05/2022
- 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 05/2022, Naps Property Inc generated $380.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.8%) each year. All expenses for the organization totaled $1.1m during the year ending 05/2022. 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
2022
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 |
|---|---|---|---|
Charles A Mulidore Exec. Vice President | OfficerTrustee | 1 | $0 |
James Warden Secretary/treasurer (start 08/2021) | OfficerTrustee | 5 | $0 |
Brian J Wagner President (outgoing 08/2021) | OfficerTrustee | 1 | $0 |
Ivan Butts President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stoladi Property Group Property Management | 5/30/18 | $238,181 |
Usmcvp Llc Tenant Improvements | 5/30/18 | $158,425 |
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 | $480,000 |
| 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 | $480,000 |
| Total Program Service Revenue | $203,524 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$303,333 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $380,191 |
| 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 | $204,501 |
| Fees for services: Legal | $2,764 |
| Fees for services: Accounting | $2,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,111 |
| Office expenses | $77,875 |
| Information technology | $10,939 |
| Royalties | $0 |
| Occupancy | $207,494 |
| 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 | $189,025 |
| Insurance | $19,952 |
| All other expenses | $0 |
| Total functional expenses | $1,077,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,048 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,267 |
| 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 | $43,435 |
| Net Land, buildings, and equipment | $2,054,592 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,227,342 |
| Accounts payable and accrued expenses | $55,895 |
| Grants payable | $0 |
| Deferred revenue | $9,489 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $15,393 |
| 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 | $80,777 |
| Net assets without donor restrictions | $2,146,565 |
| 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 | $2,227,342 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Naps Property Inc has recieved totaling $480,000.
| Awarding Organization | Amount |
|---|---|
National Association Of Postal Supervisors Alexandria, VA PURPOSE: GENERAL SUPPORT | $480,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
People Incorporated Of Virginia Abingdon, VA | $22,478,644 | $16,537,740 |
Community Ventures Corporation Inc Lexington, KY | $84,057,573 | $14,249,179 |
Heart Of America Foundation Washington, DC | $21,952,714 | $13,311,439 |
Waterfront Partnership Of Baltimore Inc Baltimore, MD | $10,304,693 | $15,904,703 |
N Street Village Inc Washington, DC | $31,040,838 | $11,867,277 |
Lake Monticello Owners Association Lake Monticello, VA | $27,325,227 | $9,680,580 |
Competitive Enterprise Institute Washington, DC | $5,463,449 | $7,758,776 |
Building Bridges Across The River Washington, DC | $56,784,233 | $13,914,024 |
Echelon Community Services Washington, DC | $2,480,354 | $6,411,075 |
Reinvestment Partners Durham, NC | $12,338,640 | $8,350,193 |
American Property Owners Alliance Washington, DC | $1,922,706 | $4,612,000 |
Sandhills Community Action Program Inc Southern Pines, NC | $2,226,446 | $4,141,015 |