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Nasco Properties INC

Not tax-deductible

Ann Arbor, MIMutual-benefit / member-serving EIN 38-2801692Revenue $2.5M in FY2025Latest return filed Mar 9, 2026

On file with the IRSnasco.coopAnn Arbor, MITax-exempt since Aug 1988

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Holds title to and manages property leased to cooperative housing students and youth

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 38-2801692) · Dispute this line
Run by 16 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $182K a year · 11% of revenue · last 6 filings
A surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
12.3 mo
of spending, in cash
12.3 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.1M
53% of total assets
Liabilities are 53% of assets.
Pt X · Ln 26
Independent board members
13
of 13 voting members
13 of 13 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$2.5M
+0.5% vs prior year
Spent
$1.6M
Net assets
$3.6M
By yearFY2020–FY2025
Revenue
$2.5M
FY2025+0.5%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$2.0M
FY2022$1.2M
FY2023$1.1M
FY2024$2.4M
FY2025$2.5M
Expenses
$1.6M
FY2025▼ -38%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.1M
FY2022$1.1M
FY2023$1.3M
FY2024$2.6M
FY2025$1.6M
Net assets
$3.6M
FY2025▲ +26%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$3.0M
FY2022$3.1M
FY2023$3.0M
FY2024$2.8M
FY2025$3.6M

From the FY2025 Form 990 (year ending April 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1988.

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

Who runs it and what they're paid

20 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Shining Li
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Soop Kish
Director
$0Pt VII · Sec A
Nolan Darilek
Director (thru May)
$0Pt VII · Sec A
Tristan Laing
Director (thru January)
$0Pt VII · Sec A
Gracie Hopkins
Director (thru May)
$0Pt VII · Sec A
Ryan Zmuda
Director
$0Pt VII · Sec A
See Nasco Properties INC executive salaries →

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 property for student and youth cooperative housing.

Questions for Nasco Properties INC

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Your first name shows with your question. Nasco Properties INC answers here, for everyone.

1 program · in their own filed words · FY2024
01

Nasco properties, inc. Holds title to numerous cooperatively-run housing properties located throughout the united states, collect rental income, and support the activities of north american students of cooperation (nasco). Nasco properties owned seventeen such properties at april 30, 2025.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 38-2801692) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Fees for servicesLn 2g$1.5M
Other incomeLn 4–11$984K
Investment incomeLn 3$2K
Money outPt IX
$1.6M
Ln 25
Owns and owesPt X
$3.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$7.6M
LiabilitiesLn 26$4.1M
PeoplePt VI, VII
20
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$2K
Other incomeLn 4–11$984K
Gains on assetsLn 7$966K
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$19K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.7M
Accounts receivableLn 4$230K
Land, buildings, equipmentLn 10c$5.6M
InvestmentsLn 11–13$204K
Other assetsLn 15$213
Total assetsLn 16$7.6M
LiabilitiesLn 26$4.1M
Net assetsLn 32$3.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderApril
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 FY25End FY25
Cash and savingsLn 1–2$40K$1.7M
InvestmentsLn 11–13$321K$204K
Land, buildings, equipmentLn 10c$7.6M$5.6M
Total assetsLn 16$8.1M$7.6M
LiabilitiesLn 26$5.2M$4.1M
Net assetsLn 32$2.8M$3.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3K
Management feesLn 11a$161K
Legal feesLn 11b$6K
Accounting feesLn 11c$18K
Other fees for servicesLn 11g$110
OccupancyLn 16$620K
Conferences, conventions and meetingsLn 19$6K
InterestLn 20$71K
Depreciation, depletion and amortizationLn 22$268K
InsuranceLn 23$166K
Other expenses (24a–d)Ln 24$265K
All other expensesLn 24e$30K
Total functional expensesLn 25$1.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Mar 9, 2026 $2.5M$1.6M$840K$3.6M 990 PDF
FY2024Filed with the IRS Mar 12, 2025 $2.4M$2.6M−$144K$2.8M 990 PDF
FY2023Filed with the IRS Mar 15, 2024 $1.1M$1.3M−$157K$3.0M 990 PDF
FY2022Filed with the IRS Mar 15, 2023 $1.2M$1.1M$91K$3.1M 990 PDF
FY2021Filed with the IRS Mar 11, 2022 $2.0M$1.1M$935K$3.0M 990 PDF
FY2020Filed with the IRS Mar 15, 2021 $1.0M$1.5M−$472K$2.1M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2025 990
Part I · Summary $2,454,040 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $968,614$0
I-9 Program service revenuePrior year $1,385,169$1,467,093
I-10 Investment incomePrior year $5,755$968,075
I-11 Other revenuePrior year $82,948$18,872
I-12 Total revenuePrior year $2,442,486$2,454,040
I-13 Grants and similar amounts paidPrior year $1,400$2,573
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 $2,584,811$1,611,354
I-18 Total expensesPrior year $2,586,211$1,613,927
I-19 Revenue less expensesPrior year −$143,725$840,113
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $2,454,040 across 4 lines filed
Lines not itemized here account for $18,872 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,467,093$1,467,093
VIII-3 Investment incomeExcluded from tax $2,452$2,452
VIII-7 Net gain or loss on sales of assetsExcluded from tax $965,623$965,623
VIII-12 Total revenueRelated to mission $1,467,093 · Unrelated business $0 · Excluded from tax $986,947$2,454,040
Part IX · Statement of functional expenses $1,613,927 across 12 lines filed
IX-2 Grants to domestic individuals$2,573
IX-11a Management fees$160,747
IX-11b Legal fees$6,041
IX-11c Accounting fees$18,443
IX-11g Other fees for services$110
IX-16 Occupancy$619,541
IX-19 Conferences, conventions and meetings$6,077
IX-20 Interest$71,445
IX-22 Depreciation, depletion and amortization$267,799
IX-23 Insurance$165,955
IX-24 Other expenses (24a–d)$264,772
IX-24e All other expenses$30,424
IX-25 Total functional expenses$1,613,927
Part X · Balance sheet $7,649,755 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $8,514$18,595
X-2 Savings and temporary cash investmentsStart of year $31,025$1,641,944
X-4 Accounts receivableStart of year $84,338$230,314
X-10c Land, buildings and equipment, netStart of year $7,608,269$5,554,199
X-13 Program-related investmentsStart of year $320,625$204,490
X-15 Other assetsStart of year $213$213
X-16 Total assetsStart of year $8,052,984$7,649,755
X-17 Accounts payable and accrued expensesStart of year $265,248$288,471
X-19 Deferred revenueStart of year $0$41,300
X-23 Secured mortgages and notes payableStart of year $4,880,562$3,662,204
X-25 Other liabilitiesStart of year $93,820$100,197
X-26 Total liabilitiesStart of year $5,239,630$4,092,172
X-27 Net assets without donor restrictionsStart of year $2,813,354$3,557,583
X-32 Total net assets or fund balancesStart of year $2,813,354$3,557,583
X-33 Total liabilities and net assetsStart of year $8,052,984$7,649,755
Part XI · Reconciliation of net assets $3,557,583 net assets at year end
XI-1 Total revenue$2,454,040
XI-2 Total expenses$1,613,927
XI-3 Revenue less expenses$840,113
XI-4 Net assets at start of year$2,813,354
XI-8 Prior period adjustments−$95,884
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,557,583

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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