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Naps Property INC FY2020 filing

Not tax-deductible

Alexandria, VAMutual-benefit / member-servingEIN 54-1683946Revenue $896K in FY2020

On file with the IRS1727 King St Ste 400, 22314-2700 · Alexandria, VATax-exempt since Feb 1994

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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
1 of 6
filings with a surplus
Average deficit $246K a year · 31% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $661K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$132K
4% of total assets
Looks good: liabilities are 4% 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
$896K
Spent
$1.2M
Net assets
$3.3M
By yearFY2020–FY2025
Revenue
$896K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$896K
FY2021$748K
FY2022$380K
FY2023$869K
FY2024$773K
FY2025$1.0M
Expenses
$1.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.1M
FY2023$926K
FY2024$909K
FY2025$945K
Net assets
$3.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.3M
FY2021$2.8M
FY2022$2.1M
FY2023$2.1M
FY2024$2.0M
FY2025$2.0M

From the FY2020 Form 990 (year ending May 2020) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
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 Feb 1994.

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 (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Charles a Mulidore
Secretary/Treasurer
$0Pt VII · Sec A
Ivan Butts
Exec. Vice President
$0Pt VII · Sec A
See Naps Property 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

Naps Property INC is a member-serving organization based in Alexandria, VA.

Questions for Naps Property INC

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Provided by the organization

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1 program · in their own filed words · FY2019
01

Naps property, inc. Leased commercial office space located at 1727 and 1729 king street in alexandria, virginia to tenants.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
National Association of Postal SupervisorsFY2024$661K
Total grants receivedfrom 1 funder$661K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$896K
Ln 12
Fees for servicesLn 2g$896K
Money outPt IX
$1.2M
Ln 25
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$263K
Total assetsLn 16$3.4M
LiabilitiesLn 26$132K
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$896K
Total revenueLn 12$896K
Assets in detailPt X, end of year
CashLn 1$263K
Cash and savings togetherLn 1–2$263K
Land, buildings, equipmentLn 10c$2.7M
Total assetsLn 16$3.4M
LiabilitiesLn 26$132K
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
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$422K$263K
Land, buildings, equipmentLn 10c$2.9M$2.7M
Total assetsLn 16$3.7M$3.4M
LiabilitiesLn 26$178K$132K
Net assetsLn 32$3.5M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$167K
Legal feesLn 11b$3K
Accounting feesLn 11c$2K
Advertising and promotionLn 12$5K
Office expensesLn 13$51K
Information technologyLn 14$10K
OccupancyLn 16$287K
Depreciation, depletion and amortizationLn 22$199K
InsuranceLn 23$18K
Other expenses (24a–d)Ln 24$413K
Total functional expensesLn 25$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.0M$945K$95K$2.0M 990 PDF
FY2024 $773K$909K−$137K$2.0M 990 PDF
FY2023 $869K$926K−$57K$2.1M 990 PDF
FY2022 $380K$1.1M−$698K$2.1M 990 PDF
FY2021 $748K$1.2M−$419K$2.8M 990 PDF
FY2020 Viewing $896K$1.2M−$259K$3.3M 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 $896,019 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $942,828$896,019
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $942,828$896,019
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 $1,095,622$1,155,109
I-18 Total expensesPrior year $1,095,622$1,155,109
I-19 Revenue less expensesPrior year −$152,794−$259,090
Part VI · Governance 0 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $896,019 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $896,019$896,019
VIII-12 Total revenueRelated to mission $896,019 · Unrelated business $0 · Excluded from tax $0$896,019
Part IX · Statement of functional expenses $1,155,109 across 10 lines filed
IX-11a Management fees$167,303
IX-11b Legal fees$3,237
IX-11c Accounting fees$1,628
IX-12 Advertising and promotion$4,680
IX-13 Office expenses$51,206
IX-14 Information technology$10,182
IX-16 Occupancy$286,912
IX-22 Depreciation, depletion and amortization$199,045
IX-23 Insurance$18,185
IX-24 Other expenses (24a–d)$412,731
IX-25 Total functional expenses$1,155,109
Part X · Balance sheet $3,394,998 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $421,668$262,528
X-4 Accounts receivableStart of year $65,446$64,519
X-9 Prepaid expenses and deferred chargesStart of year $287,095$335,528
X-10c Land, buildings and equipment, netStart of year $2,925,746$2,732,423
X-16 Total assetsStart of year $3,699,955$3,394,998
X-17 Accounts payable and accrued expensesStart of year $125,269$69,663
X-19 Deferred revenue$9,739
X-25 Other liabilitiesStart of year $52,400$52,400
X-26 Total liabilitiesStart of year $177,669$131,802
X-27 Net assets without donor restrictionsStart of year $3,522,286$3,263,196
X-32 Total net assets or fund balancesStart of year $3,522,286$3,263,196
X-33 Total liabilities and net assetsStart of year $3,699,955$3,394,998
Part XI · Reconciliation of net assets $3,263,196 net assets at year end
XI-1 Total revenue$896,019
XI-2 Total expenses$1,155,109
XI-3 Revenue less expenses−$259,090
XI-4 Net assets at start of year$3,522,286
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,263,196

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

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