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Student Agencies Properties INC FY2020 filing

Ithaca, NYUnknown exempt organization EIN 15-0461430Revenue $1.0M in FY2020Latest return filed Nov 17, 2025

On file with the IRSIthaca, NY

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Holding title to property.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12.8M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
Spent
$1.0M
To programs
100%
Net assets
$999
By yearFY2020–FY2024
Revenue
$1.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$1.5M
FY2022$2.9M
FY2023$3.1M
FY2024$3.5M
Expenses
$1.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$1.5M
FY2022$2.9M
FY2023$3.1M
FY2024$3.5M
Net assets
$999
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$999
FY2021$999
FY2022$999
FY2023$999
FY2024$999

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.0M

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Sharon Dauk
Vice Chair
$0Pt VII · Sec A
Kyle Karnes
Secretary/Treasurer
$0Pt VII · Sec A
David Lesser
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Greg Thomas
Director
$0Pt VII · Sec A
Kaela Olsen
President
$0Pt VII · Sec A
See Student Agencies Properties INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Student Agencies Properties INC is a nonprofit organization based in Ithaca, NY.

Questions for Student Agencies Properties INC

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1 program · $1.0M · in their own filed words · FY2020
01

Leasing property as part of the functionally related mission of the related 501(c)3 entity.

$1.0Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$5K
Gifts and grantsLn 1h$1K
Money outPt IX
$1.0M
Ln 25
Programscol B$1.0M
Owns and owesPt X
$999
net assets · Ln 32
Cash and savingsLn 1–2$679K
Total assetsLn 16$12.8M
LiabilitiesLn 26$12.8M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Government grantsLn 1e$1K
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$5K
Gains on assetsLn 7−$35K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$514K
SavingsLn 2$165K
Cash and savings togetherLn 1–2$679K
Accounts receivableLn 4$246K
Prepaid expenses and deferred chargesLn 9$71K
Land, buildings, equipmentLn 10c$11.9M
Other assetsLn 15−$108K
Total assetsLn 16$12.8M
LiabilitiesLn 26$12.8M
Net assetsLn 32$999
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$367K$679K
Land, buildings, equipmentLn 10c$4.3M$11.9M
Total assetsLn 16$5.0M$12.8M
LiabilitiesLn 26$5.0M$12.8M
Net assetsLn 32$999$999
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$95K
Legal feesLn 11b$26K
Accounting feesLn 11c$1K
Other fees for servicesLn 11g$6K
Advertising and promotionLn 12$12K
Office expensesLn 13$7K
InterestLn 20$102K
Depreciation, depletion and amortizationLn 22$185K
InsuranceLn 23$73K
Other expenses (24a–d)Ln 24$486K
All other expensesLn 24e$40K
Total functional expensesLn 25$1.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 17, 2025 $3.5M$3.5M$0$999 990 PDF
FY2023Filed with the IRS Oct 9, 2024 $3.1M$3.1M$0$999 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $2.9M$2.9M−$1$999 990 PDF
FY2021Filed with the IRS Nov 3, 2022 $1.5M$1.5M$1$999 990 PDF
FY2020 ViewingFiled with the IRS Nov 8, 2021 $1.0M$1.0M$2$999 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,032,983 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,000
I-9 Program service revenuePrior year $1,522,475$1,061,338
I-10 Investment incomePrior year $252−$29,355
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,522,727$1,032,983
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,522,728$1,032,981
I-18 Total expensesPrior year $1,522,728$1,032,981
I-19 Revenue less expensesPrior year −$1$2
Part VI · Governance 7 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,032,983 across 6 lines filed
VIII-1e Government grants$1,000
VIII-1h Total contributions, gifts and grants$1,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,061,338$1,061,338
VIII-3 Investment incomeExcluded from tax $5,306$5,306
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$34,661−$34,661
VIII-12 Total revenueRelated to mission $1,061,338 · Unrelated business $0 · Excluded from tax −$29,355$1,032,983
Part IX · Statement of functional expenses $1,032,981 across 11 lines filed
IX-11a Management fees$94,939
IX-11b Legal fees$25,719
IX-11c Accounting fees$1,475
IX-11g Other fees for services$5,797
IX-12 Advertising and promotion$12,435
IX-13 Office expenses$6,532
IX-20 Interest$102,354
IX-22 Depreciation, depletion and amortization$184,633
IX-23 Insurance$73,189
IX-24 Other expenses (24a–d)$486,288
IX-24e All other expenses$39,620
IX-25 Total functional expenses$1,032,981
Part X · Balance sheet $12,824,393 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $106,962$513,814
X-2 Savings and temporary cash investmentsStart of year $260,354$164,938
X-4 Accounts receivableStart of year $196,064$246,321
X-9 Prepaid expenses and deferred chargesStart of year $72,035$71,029
X-10c Land, buildings and equipment, netStart of year $4,293,226$11,936,551
X-15 Other assetsStart of year $58,618−$108,260
X-16 Total assetsStart of year $4,987,259$12,824,393
X-17 Accounts payable and accrued expensesStart of year $25,848$2,239,688
X-23 Secured mortgages and notes payableStart of year $2,458,166$7,843,901
X-25 Other liabilitiesStart of year $2,502,246$2,739,805
X-26 Total liabilitiesStart of year $4,986,260$12,823,394
X-27 Net assets without donor restrictionsStart of year $999$999
X-32 Total net assets or fund balancesStart of year $999$999
X-33 Total liabilities and net assetsStart of year $4,987,259$12,824,393
Part XI · Reconciliation of net assets $999 net assets at year end
XI-1 Total revenue$1,032,983
XI-2 Total expenses$1,032,981
XI-3 Revenue less expenses$2
XI-4 Net assets at start of year$999
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$999

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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