Nea Properties INC FY2021 filing

Not tax-deductible

Washington, DCMutual-benefit / member-servingSince 2009EmploymentEIN 27-0591064

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Nea Properties INC (neapi) is a wholly-owned real estate holding company whose purpose is to hold title to property, collect income from that property, and report all income after expenses to the national education association of the united states, an organization exempt under section 501(c)(5).

Mission: Form 990 Part I, line 1

Before you give

FY2021 · 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 $295K a year · 14% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
5 mo
of spending, in cash
Looks good: 5.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$207K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
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
$2.2M
+0.5% vs prior year
Spent
$2.2M
Net assets
$16.2M
By yearFY2020–FY2024
Revenue
$2.2M
FY2021▲ +0.5%
Revenue by fiscal year
FY2020$2.2M
FY2021$2.2M
FY2022$2.2M
FY2023$1.9M
FY2024$1.9M
FY2024$2.2M
Expenses
$2.2M
FY2021▼ -9%
Expenses by fiscal year
FY2020$2.4M
FY2021$2.2M
FY2022$2.2M
FY2023$2.5M
FY2024$2.6M
FY2024$2.5M
Net assets
$16.2M
FY2021-0.3%
Net assets by fiscal year
FY2020$16.3M
FY2021$16.2M
FY2022$16.2M
FY2023$15.7M
FY2024$15.1M
FY2024$14.8M

From the FY2021 Form 990 (year ending August 2021) · figures checked against the IRS filing · see the original

You’re viewing the FY2021 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 Feb 2010.

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 (FY2020); the FY2021 filing did not itemize Part VII
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Nea 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 15aNo

Programs and updates

Manages and collects income from real estate for the National Education Association.

Provided by the organization

This section is blank until Nea Properties INC claims this page.

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1 program service, described in the organization's own filed words · FY2020.
01

The organization held real estate, collected income, and reported all net income to its parent organization which is exempt from income tax under irc section 501(c)(5).

Pt IX · col B

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Funders

Who pays for it.

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

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Fees for servicesLn 2g$2.2M
Other incomeLn 4–11$9K
Investment incomeLn 3$453
Money outPt IX
$2.2M
Ln 25
Owns and owesPt X
$16.2M
net assets · Ln 32
Cash and savingsLn 1–2$994K
Total assetsLn 16$16.5M
LiabilitiesLn 26$207K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$453
Other incomeLn 4–11$9K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$994K
Cash and savings togetherLn 1–2$994K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$13.7M
Other assetsLn 15$227K
Total assetsLn 16$16.5M
LiabilitiesLn 26$207K
Net assetsLn 32$16.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderAugust
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 FY21End FY21
Cash and savingsLn 1–2$1.6M$994K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$14.2M$13.7M
Total assetsLn 16$16.5M$16.5M
LiabilitiesLn 26$225K$207K
Net assetsLn 32$16.3M$16.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$61K
Legal feesLn 11b$9K
Accounting feesLn 11c$10K
Other fees for servicesLn 11g$342K
Office expensesLn 13$70K
Information technologyLn 14$6K
OccupancyLn 16$734K
TravelLn 17$12K
Depreciation, depletion and amortizationLn 22$828K
InsuranceLn 23$20K
Other expenses (24a–d)Ln 24$113K
All other expensesLn 24e$6K
Total functional expensesLn 25$2.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.9M$2.6M−$653K$15.1M 990 PDF
FY2023 $1.9M$2.5M−$531K$15.7M 990 PDF
FY2022 $2.2M$2.2M$22K$16.2M 990 PDF
FY2021 Viewing $2.2M$2.2M−$42K$16.2M 990 PDF
FY2020 $2.2M$2.4M−$270K$16.3M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $2,169,094 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,159,918$2,159,918
VIII-3 Investment incomeExcluded from tax $453$453
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $8,723$8,723
VIII-12 Total revenueRelated to mission $2,168,641 · Unrelated business $0 · Excluded from tax $453$2,169,094
Part IX · Statement of functional expenses $2,210,738 across 12 lines filed
IX-11a Management fees$60,582
IX-11b Legal fees$9,268
IX-11c Accounting fees$10,500
IX-11g Other fees for services$341,767
IX-13 Office expenses$69,915
IX-14 Information technology$6,141
IX-16 Occupancy$733,991
IX-17 Travel$12,472
IX-22 Depreciation, depletion and amortization$827,604
IX-23 Insurance$19,833
IX-24 Other expenses (24a–d)$113,097
IX-24e All other expenses$5,568
IX-25 Total functional expenses$2,210,738
Part X · Balance sheet $16,455,902 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,632,679$993,999
X-4 Accounts receivableStart of year $132,955$133,264
X-9 Prepaid expenses and deferred chargesStart of year $389,432$374,201
X-10c Land, buildings and equipment, netStart of year $14,222,589$13,676,793
X-11 Publicly traded securities$1,050,454
X-15 Other assetsStart of year $138,506$227,191
X-16 Total assetsStart of year $16,516,161$16,455,902
X-17 Accounts payable and accrued expensesStart of year $142,372$24,023
X-25 Other liabilitiesStart of year $82,840$182,574
X-26 Total liabilitiesStart of year $225,212$206,597
X-27 Net assets without donor restrictionsStart of year $16,290,949$16,249,305
X-32 Total net assets or fund balancesStart of year $16,290,949$16,249,305
X-33 Total liabilities and net assetsStart of year $16,516,161$16,455,902
Part XI · Reconciliation of net assets $16,249,305 net assets at year end
XI-1 Total revenue$2,169,094
XI-2 Total expenses$2,210,738
XI-3 Revenue less expenses−$41,644
XI-4 Net assets at start of year$16,290,949
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$16,249,305

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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