Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. 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, columns B–D. 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; $240K 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
Your first name shows with your question. Academic Properties INC answers here, for everyone.
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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 FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.6M | $6.8M |
| Land, buildings, equipmentLn 10c | $18.9M | $18.5M |
| Total assetsLn 16 | $25.0M | $27.6M |
| LiabilitiesLn 26 | $926K | $1.6M |
| Net assetsLn 32 | $24.1M | $26.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $115K | $115K | ||
| Other salaries and wagesLn 7 | $278K | $278K | ||
| Other employee benefitsLn 9 | $129K | $129K | ||
| Payroll taxesLn 10 | $34K | $34K | ||
| Accounting feesLn 11c | $10K | $10K | ||
| Other fees for servicesLn 11g | $154K | $154K | ||
| Office expensesLn 13 | $8K | $8K | ||
| Information technologyLn 14 | $29K | $29K | ||
| OccupancyLn 16 | $2.4M | $2.4M | ||
| Payments to affiliatesLn 21 | $1.5M | $1.5M | ||
| Depreciation, depletion and amortizationLn 22 | $806K | $806K | ||
| Other expenses (24a–d)Ln 24 | $81K | $81K | ||
| Total functional expensesLn 25 | $5.6M | $5.6M | $10K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| 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 Viewing | $7.5M | $5.6M | $1.9M | $26.1M | 990 PDF |
| FY2020 | $7.2M | $11.6M | −$4.4M | $24.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $7,526,969 revenue, 12 lines filed
Part VI · Governance 2 of 8 board members independent, 3 to look at
Part VIII · Statement of revenue $7,526,969 across 5 lines filed
Part IX · Statement of functional expenses $5,589,889 across 12 lines filed
Part X · Balance sheet $27,629,572 assets, 12 lines filed
Part XI · Reconciliation of net assets $26,057,297 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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