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Nasco Properties INC FY2020 filing

Not tax-deductible

Ann Arbor, MIMutual-benefit / member-servingEIN 38-2801692Revenue $1.0M in FY2020

On file with the IRSnasco.coop337 E William St, 48104-2316 · Ann Arbor, MITax-exempt since Aug 1988

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

Mission: Form 990 Part I, line 1

Before you give

FY2020 · 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
3 of 6
filings with a surplus
Average surplus $182K a year · 11% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.9M
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
Spent
$1.5M
Net assets
$2.1M
By yearFY2020–FY2025
Revenue
$1.0M
FY2020
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
$1.5M
FY2020
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
$2.1M
FY2020
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 FY2020 Form 990 (year ending April 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Aug 1988.

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Tristan Laing
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Shining Li
Treasurer
$0Pt VII · Sec A
Nicole White
Director
$0Pt VII · Sec A
Jason Blank
Director
$0Pt VII · Sec A
James Jones
Director
$0Pt VII · Sec A
Ashley Grace
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Nasco 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 property for student and youth cooperative housing.

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Provided by the organization

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1 program · in their own filed words · FY2019
01

Held titles and managed properties leased to cooperatives housing students and youth.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$11K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$6.0M
LiabilitiesLn 26$3.9M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$11K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$44K
Cash and savings togetherLn 1–2$44K
InvestmentsLn 11–13$510K
Land, buildings, equipmentLn 10c$5.1M
Other assetsLn 15$125K
Total assetsLn 16$6.0M
LiabilitiesLn 26$3.9M
Net assetsLn 32$2.1M
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 FY20End FY20
Cash and savingsLn 1–2$53K$44K
InvestmentsLn 11–13$562K$510K
Land, buildings, equipmentLn 10c$5.3M$5.1M
Total assetsLn 16$6.6M$6.0M
LiabilitiesLn 26$4.0M$3.9M
Net assetsLn 32$2.6M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$82K
Legal feesLn 11b$3K
Accounting feesLn 11c$4K
OccupancyLn 16$304K
InterestLn 20$237K
Depreciation, depletion and amortizationLn 22$211K
InsuranceLn 23$94K
Other expenses (24a–d)Ln 24$573K
All other expensesLn 24e$683
Total functional expensesLn 25$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.5M$1.6M$840K$3.6M 990 PDF
FY2024 $2.4M$2.6M−$144K$2.8M 990 PDF
FY2023 $1.1M$1.3M−$157K$3.0M 990 PDF
FY2022 $1.2M$1.1M$91K$3.1M 990 PDF
FY2021 $2.0M$1.1M$935K$3.0M 990 PDF
FY2020 Viewing $1.0M$1.5M−$472K$2.1M 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 FY2020 990 (6 parts)
Part I · Summary $1,036,316 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,023,987$1,025,680
I-10 Investment incomePrior year −$45,678$10,636
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $978,309$1,036,316
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 $992,707$1,507,858
I-18 Total expensesPrior year $992,707$1,507,858
I-19 Revenue less expensesPrior year −$14,398−$471,542
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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 $1,036,316 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,025,680$1,025,680
VIII-3 Investment incomeExcluded from tax $10,636$10,636
VIII-12 Total revenueRelated to mission $1,025,680 · Unrelated business $0 · Excluded from tax $10,636$1,036,316
Part IX · Statement of functional expenses $1,507,858 across 9 lines filed
IX-11a Management fees$81,936
IX-11b Legal fees$2,513
IX-11c Accounting fees$4,464
IX-16 Occupancy$303,512
IX-20 Interest$236,984
IX-22 Depreciation, depletion and amortization$210,794
IX-23 Insurance$93,752
IX-24 Other expenses (24a–d)$573,220
IX-24e All other expenses$683
IX-25 Total functional expenses$1,507,858
Part X · Balance sheet $6,034,320 assets, 13 lines filed
Asset lines not itemized here account for $100,327; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $53,240$44,383
X-4 Accounts receivableStart of year $407,661$92,662
X-9 Prepaid expenses and deferred chargesStart of year $35,530$21,030
X-10c Land, buildings and equipment, netStart of year $5,257,365$5,140,635
X-11 Publicly traded securitiesStart of year $562,388$510,005
X-15 Other assetsStart of year $131,536$125,278
X-16 Total assetsStart of year $6,569,963$6,034,320
X-17 Accounts payable and accrued expensesStart of year $90,674$116,159
X-25 Other liabilitiesStart of year $66,503$70,326
X-26 Total liabilitiesStart of year $4,010,190$3,946,089
X-27 Net assets without donor restrictionsStart of year $2,559,773$2,088,231
X-32 Total net assets or fund balancesStart of year $2,559,773$2,088,231
X-33 Total liabilities and net assetsStart of year $6,569,963$6,034,320
Part XI · Reconciliation of net assets $2,088,231 net assets at year end
XI-1 Total revenue$1,036,316
XI-2 Total expenses$1,507,858
XI-3 Revenue less expenses−$471,542
XI-4 Net assets at start of year$2,559,773
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,088,231

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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