The Nucleus Real Properties INC: Nonprofit Profile, Financials & Form 990 (EIN 46-3070346)

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

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

Where the money goes

96 cents of each dollar spent went to programs.

96%

Program services 96% · $2.1M Management & general 4% · $86K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation

Keith Sherman

Chair

$0Pt VII · Sec A

David Anderson

Director

$0Pt VII · Sec A

Neeli Bendapudi

Director

$0Pt VII · Sec A

Jim Boone

Director

$0Pt VII · Sec A

Paul Carrico

Director

$0Pt VII · Sec A

John Chilton

Director

$0Pt VII · Sec A

Jill Force

Director

$0Pt VII · Sec A

Sandra Frazier

Director

$0Pt VII · Sec A

See The Nucleus Real 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

Supports the University of Louisville Foundation's financial goals and operations.

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Provided by the organization

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1 program · $2.1M · in their own filed words · FY2020

01

Development and management of the property and improvements located at the corner of market and shelby streets in louisville, kentucky.

$2.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking

Grants paid · 1 grant · $500K · 2020–2020

University of Louisville Foundation INCKY · FY2020$500,000

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$6.3M

Ln 12

Other incomeLn 4–11$5.1M

Fees for servicesLn 2g$1.2M

Money outPt IX

$2.2M

Ln 25

Programscol B$2.1M

Managementcol C$86K

Owns and owesPt X

$0

net assets · Ln 32

Total assetsLn 16$0

LiabilitiesLn 26$0

PeoplePt VI, VII

21

listed · VII A

PaidVII A0

Voting boardVI 1a16

IndependentVI 1b15

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$1.2M

Other incomeLn 4–11$5.1M

Total revenueLn 12$6.3M

Assets in detailPt X, end of year

CashLn 1$0

SavingsLn 2$0

InvestmentsLn 11–13$0

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$0

Total assetsLn 16$0

LiabilitiesLn 26$0

Net assetsLn 32$0

OperationsPt I, VI

EmployeesI 50

VolunteersI 620

Fiscal year endsHeaderNovember

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$1.1M	$0
InvestmentsLn 11–13		$0
Land, buildings, equipmentLn 10c	$21.5M	$0
Total assetsLn 16	$32.0M	$0
LiabilitiesLn 26	$36.1M	$0
Net assetsLn 32	−$4.1M	$0

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$500K	$500K
Legal feesLn 11b	$86K		$86K
Other fees for servicesLn 11g	$122K	$122K
Advertising and promotionLn 12	$1K	$1K
Office expensesLn 13	$3K	$3K
OccupancyLn 16	$281K	$281K
InterestLn 20	$30K	$30K
Payments to affiliatesLn 21	$54K	$54K
Depreciation, depletion and amortizationLn 22	$1.1M	$1.1M
InsuranceLn 23	$12K	$12K
Other expenses (24a–d)Ln 24	$10K	$10K
Total functional expensesLn 25	$2.2M	$2.1M	$86K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2020 Latest Viewing	$6.3M	$2.2M	$4.1M	$0	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $6,292,812 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $3,128,731$1,158,733

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $343$5,134,079

I-12 Total revenuePrior year $3,129,074$6,292,812

I-13 Grants and similar amounts paidPrior year $1,750,000$500,000

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 $2,930,234$1,692,027

I-18 Total expensesPrior year $4,680,234$2,192,027

I-19 Revenue less expensesPrior year −$1,551,160$4,100,785

Part VI · Governance 15 of 16 board members independent, 1 to look at

VI-1a Voting members of the governing body16

VI-1b Independent voting members15

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 $6,292,812 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,158,733$1,158,733

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,134,079$5,134,079

VIII-12 Total revenueRelated to mission $6,292,812 · Unrelated business $0 · Excluded from tax $0$6,292,812

Part IX · Statement of functional expenses $2,192,027 across 11 lines filed

IX-1 Grants to domestic organizationsPrograms $500,000$500,000

IX-11b Legal feesManagement $86,349$86,349

IX-11g Other fees for servicesPrograms $121,826$121,826

IX-12 Advertising and promotionPrograms $1,155$1,155

IX-13 Office expensesPrograms $2,707$2,707

IX-16 OccupancyPrograms $280,760$280,760

IX-20 InterestPrograms $30,011$30,011

IX-21 Payments to affiliatesPrograms $53,867$53,867

IX-22 Depreciation, depletion and amortizationPrograms $1,093,618$1,093,618

IX-23 InsurancePrograms $12,055$12,055

IX-24 Other expenses (24a–d)Programs $9,679$9,679

IX-25 Total functional expensesPrograms $2,105,678 · Management $86,349 · Fundraising $0$2,192,027

Part X · Balance sheet $0 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $1,027,359$0

X-2 Savings and temporary cash investmentsStart of year $53,851$0

X-3 Pledges and grants receivable$0

X-4 Accounts receivableStart of year $3,439,131$0

X-8 Inventories for sale or use$0

X-9 Prepaid expenses and deferred chargesStart of year $403,913$0

X-10c Land, buildings and equipment, netStart of year $21,498,470$0

X-11 Publicly traded securities$0

X-12 Other securities$0

X-13 Program-related investments$0

X-14 Intangible assets$0

X-15 Other assetsStart of year $5,589,572$0

X-16 Total assetsStart of year $32,012,296$0

X-17 Accounts payable and accrued expensesStart of year $102,887$0

X-25 Other liabilitiesStart of year $16,160,194$0

X-26 Total liabilitiesStart of year $36,113,081$0

X-27 Net assets without donor restrictionsStart of year −$4,100,785$0

X-32 Total net assets or fund balancesStart of year −$4,100,785$0

X-33 Total liabilities and net assetsStart of year $32,012,296$0

Part XI · Reconciliation of net assets $0 net assets at year end

XI-1 Total revenue$6,292,812

XI-2 Total expenses$2,192,027

XI-3 Revenue less expenses$4,100,785

XI-4 Net assets at start of year−$4,100,785

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$0

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

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The Nucleus Real Properties INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for The Nucleus Real Properties INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV