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Nea Properties INC FY2022 filing

Not tax-deductible

Washington, DCMutual-benefit / member-servingSince 2009EmploymentEIN 27-0591064Revenue $2.2M in FY2022

On file with the IRS1201 16th Street Nw 519, 20036-3201 · Washington, DCTax-exempt since Feb 2010

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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

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $294K a year · 14% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$305K
2% of total assets
Looks good: liabilities are 2% 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
+2% vs prior year
Spent
$2.2M
Net assets
$16.2M
By yearFY2020–FY2025
Revenue
$2.2M
FY2022▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$2.2M
FY2022$2.2M
FY2023$1.9M
FY2024$1.9M
FY2025$2.2M
Expenses
$2.2M
FY2022▼ -0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$2.2M
FY2022$2.2M
FY2023$2.5M
FY2024$2.6M
FY2025$2.5M
Net assets
$16.2M
FY2022-0.3%
Tap a bar for its year
Net assets by fiscal year
FY2020$16.3M
FY2021$16.2M
FY2022$16.2M
FY2023$15.7M
FY2024$15.1M
FY2025$14.8M

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

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. 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 (FY2021); the FY2022 filing did not itemize Part VII
Princess Moss
President
$0Pt VII · Sec A
John Wright
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.

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Provided by the organization

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1 program · in their own filed words · FY2021
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

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.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.2M
Ln 12
Fees for servicesLn 2g$2.0M
Other incomeLn 4–11$188K
Investment incomeLn 3$15K
Money outPt IX
$2.2M
Ln 25
Owns and owesPt X
$16.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$16.5M
LiabilitiesLn 26$305K
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$2.0M
Investment incomeLn 3$15K
Other incomeLn 4–11$188K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$989K
Land, buildings, equipmentLn 10c$13.5M
Other assetsLn 15$282K
Total assetsLn 16$16.5M
LiabilitiesLn 26$305K
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 FY22End FY22
Cash and savingsLn 1–2$994K$1.3M
InvestmentsLn 11–13$1.1M$989K
Land, buildings, equipmentLn 10c$13.7M$13.5M
Total assetsLn 16$16.5M$16.5M
LiabilitiesLn 26$207K$305K
Net assetsLn 32$16.2M$16.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$65K
Accounting feesLn 11c$11K
Other fees for servicesLn 11g$345K
Office expensesLn 13$97K
Information technologyLn 14$10K
OccupancyLn 16$705K
TravelLn 17$12K
Depreciation, depletion and amortizationLn 22$820K
InsuranceLn 23$25K
Other expenses (24a–d)Ln 24$100K
All other expensesLn 24e$2K
Total functional expensesLn 25$2.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$2.5M−$287K$14.8M 990 PDF
FY2024 $1.9M$2.6M−$653K$15.1M 990 PDF
FY2023 $1.9M$2.5M−$531K$15.7M 990 PDF
FY2022 Viewing $2.2M$2.2M$22K$16.2M 990 PDF
FY2021 $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 R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $2,213,728 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,159,918$2,010,964
I-10 Investment incomePrior year $453$15,016
I-11 Other revenuePrior year $8,723$187,748
I-12 Total revenuePrior year $2,169,094$2,213,728
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 $2,210,738$2,191,867
I-18 Total expensesPrior year $2,210,738$2,191,867
I-19 Revenue less expensesPrior year −$41,644$21,861
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-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $2,213,728 across 3 lines filed
Lines not itemized here account for $187,748 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,010,964$2,010,964
VIII-3 Investment incomeExcluded from tax $15,016$15,016
VIII-12 Total revenueRelated to mission $2,198,712 · Unrelated business $0 · Excluded from tax $15,016$2,213,728
Part IX · Statement of functional expenses $2,191,867 across 11 lines filed
IX-11a Management fees$64,919
IX-11c Accounting fees$11,000
IX-11g Other fees for services$344,563
IX-13 Office expenses$97,147
IX-14 Information technology$10,393
IX-16 Occupancy$705,452
IX-17 Travel$11,722
IX-22 Depreciation, depletion and amortization$820,254
IX-23 Insurance$24,777
IX-24 Other expenses (24a–d)$99,883
IX-24e All other expenses$1,757
IX-25 Total functional expenses$2,191,867
Part X · Balance sheet $16,499,907 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $993,999$1,306,716
X-4 Accounts receivableStart of year $133,264$108,205
X-9 Prepaid expenses and deferred chargesStart of year $374,201$332,676
X-10c Land, buildings and equipment, netStart of year $13,676,793$13,481,326
X-11 Publicly traded securitiesStart of year $1,050,454$988,920
X-15 Other assetsStart of year $227,191$282,064
X-16 Total assetsStart of year $16,455,902$16,499,907
X-17 Accounts payable and accrued expensesStart of year $24,023$124,356
X-25 Other liabilitiesStart of year $182,574$180,934
X-26 Total liabilitiesStart of year $206,597$305,290
X-27 Net assets without donor restrictionsStart of year $16,249,305$16,194,617
X-32 Total net assets or fund balancesStart of year $16,249,305$16,194,617
X-33 Total liabilities and net assetsStart of year $16,455,902$16,499,907
Part XI · Reconciliation of net assets $16,194,617 net assets at year end
XI-1 Total revenue$2,213,728
XI-2 Total expenses$2,191,867
XI-3 Revenue less expenses$21,861
XI-4 Net assets at start of year$16,249,305
XI-5 Net unrealized gains (losses) on investments−$76,549
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$16,194,617

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

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