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Api Nevada Properties INC

Not tax-deductible

Las Vegas, NVMutual-benefit / member-servingCommunity Development EIN 20-0274482Revenue $576K in FY2024

On file with the IRSmeetlv.com233 South 4th Street 100, 89101-5782 · Las Vegas, NVTax-exempt since Apr 2015

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To hold title of real estate for another exempt organization.

$17K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
1 of 5
filings with a surplus
Average deficit $351K a year · 41% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$17K
to officers and key staff · 1% of spending
Top officer’s pay lower than 92% of similar orgs
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Liabilities
$22.5M
127% of total assets
Concern: liabilities are 127% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$576K
+3% vs prior year
Spent
$1.4M
To programs
0%
Net assets
−$4.8M
By yearFY2020–FY2024
Revenue
$576K
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.3M
FY2022$547K
FY2023$557K
FY2024$576K
Expenses
$1.4M
FY2024▲ +36%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.0M
FY2023$1.0M
FY2024$1.4M
Net assets
−$4.8M
FY2024▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2020−$8.7M
FY2021−$3.0M
FY2022−$3.5M
FY2023−$4.0M
FY2024−$4.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Revoked May 2012, reinstated. IRS ruling Apr 2015, per the IRS master file. Latest filing on record: FY2024. IRS ruling in Apr 2015.

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

Who runs it and what they're paid

4 people listed on the 990; $17K paid to officers and key staff.

Part VII, Section A · reportable compensation
$13,320Pt VII · Sec A
Zack Wright
SR Dir of Technology and Certification
$1,682Pt VII · Sec A
$1,135Pt VII · Sec A
Curtis Tatum
Vice President and Treasurer
$864Pt VII · Sec A

Daniel J Maddux’s $13K as President is at the 8th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Api Nevada Properties INC executive salaries →

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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 15aYes

Programs and updates

Owns real estate for another tax-exempt group.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To hold title to real estate in nevada for another exempt organization.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$576K
Ln 12
Other incomeLn 4–11$576K
Money outPt IX
$1.4M
Ln 25
Owns and owesPt X
−$4.8M
net assets · Ln 32
Total assetsLn 16$17.7M
LiabilitiesLn 26$22.5M
PeoplePt VI, VII
4
listed · VII A
PaidVII A4
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$576K
Total revenueLn 12$576K
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$17.7M
Other assetsLn 15$0
Total assetsLn 16$17.7M
LiabilitiesLn 26$22.5M
Net assetsLn 32−$4.8M
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Land, buildings, equipmentLn 10c$18.0M$17.7M
Total assetsLn 16$18.0M$17.7M
LiabilitiesLn 26$22.0M$22.5M
Net assetsLn 32−$4.0M−$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$17K
Other salaries and wagesLn 7$2K
Other employee benefitsLn 9$5K
Other fees for servicesLn 11g$18
Office expensesLn 13$787
Information technologyLn 14$399
OccupancyLn 16$367K
Depreciation, depletion and amortizationLn 22$991K
All other expensesLn 24e$0
Total functional expensesLn 25$1.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $576K$1.4M−$807K−$4.8M 990 PDF
FY2023 $557K$1.0M−$463K−$4.0M 990 PDF
FY2022 $547K$1.0M−$492K−$3.5M 990 PDF
FY2021 $1.3M$1.3M−$44K−$3.0M 990 PDF
FY2020 $1.4M$1.3M$50K−$8.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $575,503 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $556,604$575,503
I-12 Total revenuePrior year $556,604$575,503
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $9,304$22,883
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,010,220$1,359,187
I-18 Total expensesPrior year $1,019,524$1,382,070
I-19 Revenue less expensesPrior year −$462,920−$806,567
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $575,503 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-6 Net rental income or lossExcluded from tax $225,503$225,503
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $350,000$350,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $575,503$575,503
Part IX · Statement of functional expenses $1,382,070 across 9 lines filed
IX-5 Pay of current officers, directors and key staff$16,520
IX-7 Other salaries and wages$1,682
IX-9 Other employee benefits$4,681
IX-13 Office expenses$787
IX-14 Information technology$399
IX-16 Occupancy$367,399
IX-22 Depreciation, depletion and amortization$990,584
IX-24e All other expenses$0
IX-25 Total functional expenses$1,382,070
Part X · Balance sheet $17,703,359 assets, 10 lines filed
X-4 Accounts receivableStart of year $25,642$17,957
X-10c Land, buildings and equipment, netStart of year $18,007,177$17,685,402
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $18,032,819$17,703,359
X-17 Accounts payable and accrued expenses$1,030
X-25 Other liabilitiesStart of year $22,004,720$22,480,797
X-26 Total liabilitiesStart of year $22,004,720$22,481,827
X-27 Net assets without donor restrictionsStart of year −$3,971,901−$4,778,468
X-32 Total net assets or fund balancesStart of year −$3,971,901−$4,778,468
X-33 Total liabilities and net assetsStart of year $18,032,819$17,703,359
Part XI · Reconciliation of net assets −$4,778,468 net assets at year end
XI-1 Total revenue$575,503
XI-2 Total expenses$1,382,070
XI-3 Revenue less expenses−$806,567
XI-4 Net assets at start of year−$3,971,901
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$4,778,468

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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