Educational Properties INC

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To acquire and maintain real property for lease to noble academy.

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-4743465) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists 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
6 of 6
filings with a surplus
Average surplus $288K a year · 18% of revenue · last 6 filings
A surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
100% of spending went to programs.
Pt IX · Ln 25 · col B
32.8 mo
of spending, in cash
32.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$19.3M
97% of total assets
Liabilities are 97% of assets.
Pt X · Ln 26
Independent board members
3
of 3 voting members
3 of 3 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$1.6M
-0.9% vs prior year
Spent
$1.2M
To programs
100%
Net assets
$531K
By yearFY2020–FY2025
Revenue
$1.6M
FY2025▼ -0.9%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$1.5M
FY2023$1.6M
FY2024$1.7M
FY2025$1.6M
Expenses
$1.2M
FY2025▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.3M
FY2022$1.3M
FY2023$1.3M
FY2024$1.3M
FY2025$1.2M
Net assets
$531K
FY2025▲ +380%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.0M
FY2021−$820K
FY2022−$582K
FY2023−$286K
FY2024$111K
FY2025$531K

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

Is it real?

Yes. Exemption reinstated (2012-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Aug 2014.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.2M

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Educational 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

Acquires and maintains property for Noble Academy to use.

Questions for Educational Properties INC

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

1 program · $1.2M · in their own filed words · FY2024
01

Own and lease property back to noble academy.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-4743465) · Dispute this line
$1.2Mprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$113K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Owns and owesPt X
$531K
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$19.8M
LiabilitiesLn 26$19.3M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$113K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
SavingsLn 2$3.4M
Cash and savings togetherLn 1–2$3.4M
Land, buildings, equipmentLn 10c$16.4M
Total assetsLn 16$19.8M
LiabilitiesLn 26$19.3M
Net assetsLn 32$531K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$20.5M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$3.2M$3.4M
Land, buildings, equipmentLn 10c$16.8M$16.4M
Total assetsLn 16$20.0M$19.8M
LiabilitiesLn 26$19.9M$19.3M
Net assetsLn 32$111K$531K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$22K$22K
InterestLn 20$893K$893K
Depreciation, depletion and amortizationLn 22$346K$346K
Other expenses (24a–d)Ln 24−$16K−$16K
Total functional expensesLn 25$1.2M$1.2M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Feb 3, 2026 $1.6M$1.2M$396K$531K 990 PDF
FY2024Filed with the IRS Jan 27, 2025 $1.7M$1.3M$397K$111K 990 PDF
FY2023Filed with the IRS Mar 26, 2024 $1.6M$1.3M$296K−$286K 990 PDF
FY2022Filed with the IRS May 11, 2023 $1.5M$1.3M$238K−$582K 990 PDF
FY2021Filed with the IRS May 11, 2022 $1.5M$1.3M$217K−$820K 990 PDF
FY2020Filed with the IRS May 7, 2021 $1.6M$1.4M$181K−$1.0M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2025 990
Part I · Summary $1,641,231 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,528,550$1,527,750
I-10 Investment incomePrior year $126,863$113,481
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,655,413$1,641,231
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 $1,258,784$1,244,937
I-18 Total expensesPrior year $1,258,784$1,244,937
I-19 Revenue less expensesPrior year $396,629$396,294
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $1,641,231 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,527,750$1,527,750
VIII-3 Investment incomeExcluded from tax $113,481$113,481
VIII-12 Total revenueRelated to mission $1,527,750 · Unrelated business $0 · Excluded from tax $113,481$1,641,231
Part IX · Statement of functional expenses $1,244,937 across 4 lines filed
IX-11g Other fees for servicesPrograms $21,966$21,966
IX-20 InterestPrograms $892,750$892,750
IX-22 Depreciation, depletion and amortizationPrograms $346,392$346,392
IX-24 Other expenses (24a–d)Programs −$16,171−$16,171
IX-25 Total functional expensesPrograms $1,244,937 · Management $0 · Fundraising $0$1,244,937
Part X · Balance sheet $19,825,862 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $3,211,025$3,407,140
X-10c Land, buildings and equipment, netStart of year $16,765,114$16,418,722
X-16 Total assetsStart of year $19,976,139$19,825,862
X-17 Accounts payable and accrued expensesStart of year $24,000$0
X-23 Secured mortgages and notes payableStart of year $18,698,423$18,162,252
X-25 Other liabilitiesStart of year $1,143,205$1,132,805
X-26 Total liabilitiesStart of year $19,865,628$19,295,057
X-29 Capital stock or trust principalStart of year −$19,155,198−$18,608,627
X-30 Paid-in or capital surplusStart of year $16,765,114$16,418,722
X-31 Retained earnings or endowmentStart of year $2,500,595$2,720,710
X-32 Total net assets or fund balancesStart of year $110,511$530,805
X-33 Total liabilities and net assetsStart of year $19,976,139$19,825,862
Part XI · Reconciliation of net assets $530,805 net assets at year end
XI-1 Total revenue$1,641,231
XI-2 Total expenses$1,244,937
XI-3 Revenue less expenses$396,294
XI-4 Net assets at start of year$110,511
XI-8 Prior period adjustments$24,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$530,805

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

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