Apm Properties INC FY2022 filing

Not tax-deductible

Philadelphia, PAMutual-benefit / member-servingSince 1992EIN 23-2707253Revenue $948K in FY2022

On file with the IRSapmphila.org1900 N 9th St Ste 102, 19122-2028 · Philadelphia, PATax-exempt since Jun 1993

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To act as a title-holding company for asociacion puertorriquenos en marcha, INC(Apm), and utilize housing subsidies in support of Apm.

Mission: Form 990 Part I, line 1

Before you give

FY2022 · 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
2 of 5
filings with a surplus
Average deficit $48K a year · 5% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
14 mo
of spending, in cash
Looks good: 13.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.5M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$948K
+4% vs prior year
Spent
$1.1M
Net assets
$0
By yearFY2020–FY2024
Revenue
$948K
FY2022▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$619K
FY2021$911K
FY2022$948K
FY2023$967K
FY2024$1.1M
FY2024$1.1M
Expenses
$1.1M
FY2022▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$619K
FY2021$981K
FY2022$1.1M
FY2023$1.0M
FY2024$1.1M
FY2024$1.1M
Net assets
$0
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2024$0

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 ruling in Jun 1993.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Apm 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

Holds titles and uses housing subsidies to support another organization's work.

Provided by the organization

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1 program · in their own filed words · FY2021
01

To act as a title-holding company for asociacion puertorriquenos en marcha, inc(apm), and utilize housing subsidies in support of apm.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$948K
Ln 12
Fees for servicesLn 2g$928K
Other incomeLn 4–11$20K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$4.5M
LiabilitiesLn 26$4.5M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$928K
Other incomeLn 4–11$20K
Gains on assetsLn 7$0
Total revenueLn 12$948K
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$0
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$3.2M
Other assetsLn 15$31K
Total assetsLn 16$4.5M
LiabilitiesLn 26$4.5M
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$604K$1.2M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$3.3M$3.2M
Total assetsLn 16$4.0M$4.5M
LiabilitiesLn 26$4.0M$4.5M
Net assetsLn 32$0$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$758K
Legal feesLn 11b$5K
Accounting feesLn 11c$1K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$1K
Advertising and promotionLn 12$0
Office expensesLn 13$33K
Information technologyLn 14$2K
RoyaltiesLn 15$0
OccupancyLn 16$38K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$3K
InterestLn 20$25K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$146K
InsuranceLn 23$62K
Total functional expensesLn 25$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.1M$1.1M$0$0 990 PDF
FY2023 $967K$1.0M−$43K$0 990 PDF
FY2022 Viewing $948K$1.1M−$128K$0 990 PDF
FY2021 $911K$981K−$70K$0 990 PDF
FY2020 $619K$619K$0$0 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $947,882 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $910,950$928,301
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$19,581
I-12 Total revenuePrior year $910,950$947,882
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 $980,876$1,075,488
I-18 Total expensesPrior year $980,876$1,075,488
I-19 Revenue less expensesPrior year −$69,926−$127,606
Part VI · Governance 1 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
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 $947,882 across 9 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $928,301$928,301
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $19,581$19,581
VIII-12 Total revenueRelated to mission $947,882$947,882
Part IX · Statement of functional expenses $1,075,488 across 29 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$758,005
IX-11b Legal fees$5,494
IX-11c Accounting fees$1,092
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$1,100
IX-12 Advertising and promotion$0
IX-13 Office expenses$32,521
IX-14 Information technology$2,120
IX-15 Royalties$0
IX-16 Occupancy$37,829
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$3,427
IX-20 Interest$24,999
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$146,449
IX-23 Insurance$62,452
IX-25 Total functional expenses$1,075,488
Part X · Balance sheet $4,532,552 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $603,710$1,243,134
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $72,001$72,001
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $15,569$0
X-10c Land, buildings and equipment, netStart of year $3,260,962$3,186,312
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $11,485$31,105
X-16 Total assetsStart of year $3,963,727$4,532,552
X-17 Accounts payable and accrued expensesStart of year $6,809$14,519
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $3,038,994$3,672,757
X-26 Total liabilitiesStart of year $3,963,727$4,532,552
X-27 Net assets without donor restrictionsStart of year $0$0
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $0$0
X-33 Total liabilities and net assetsStart of year $3,963,727$4,532,552
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$947,882
XI-2 Total expenses$1,075,488
XI-3 Revenue less expenses−$127,606
XI-4 Net assets at start of year$0
XI-5 Net unrealized gains (losses) on investments$127,606
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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