Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1994.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
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Who runs it and what they're paid
10 people listed on the 990; $466K paid to officers and key staff.
Carmen Piccolo’s $150K as Vice President is at the 69th percentile of top reported officer pay among 2037 $1–10M housing 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.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Martin J Onzik | — | — | — | $201,639 |
| Carmen Piccolo | $149,975 | $148,173 | $133,066 | $131,360 |
| Tigist Tesfaye | — | — | $106,935 | $132,790 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aNo
Programs and updates
Acquires and improves properties for Drexel University's future growth.
Questions for Academic Properties INC
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Rental of classroom and office space to drexel university.
Housing for students of drexel university.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $10.1M | $4.6M |
| Land, buildings, equipmentLn 10c | $18.2M | $18.9M |
| Total assetsLn 16 | $29.3M | $25.0M |
| LiabilitiesLn 26 | $830K | $926K |
| Net assetsLn 32 | $28.5M | $24.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $125K | $125K | ||
| Other salaries and wagesLn 7 | $639K | $639K | ||
| Other employee benefitsLn 9 | $199K | $199K | ||
| Payroll taxesLn 10 | $57K | $57K | ||
| Accounting feesLn 11c | $9K | $9K | ||
| Other fees for servicesLn 11g | $109K | $109K | ||
| Office expensesLn 13 | $28K | $28K | ||
| Information technologyLn 14 | $44K | $44K | ||
| OccupancyLn 16 | $2.6M | $2.6M | ||
| Payments to affiliatesLn 21 | $7.0M | $7.0M | ||
| Depreciation, depletion and amortizationLn 22 | $760K | $760K | ||
| Other expenses (24a–d)Ln 24 | $18K | $18K | ||
| Total functional expensesLn 25 | $11.6M | $11.6M | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $8.4M | $5.9M | $2.5M | $36.2M | 990 PDF |
| FY2024 | $8.4M | $5.8M | $2.6M | $33.7M | 990 PDF |
| FY2023 | $8.2M | $5.3M | $2.8M | $31.1M | 990 PDF |
| FY2022 | $8.2M | $5.9M | $2.2M | $28.3M | 990 PDF |
| FY2021 | $7.5M | $5.6M | $1.9M | $26.1M | 990 PDF |
| FY2020 Viewing | $7.2M | $11.6M | −$4.4M | $24.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $7,233,685 revenue, 12 lines filed
Part VI · Governance 2 of 8 board members independent, 3 to look at
Part VIII · Statement of revenue $7,233,685 across 5 lines filed
Part IX · Statement of functional expenses $11,588,617 across 12 lines filed
Part X · Balance sheet $25,045,725 assets, 13 lines filed
Part XI · Reconciliation of net assets $24,120,217 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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