Naps Property INC: FY2023 Nonprofit Profile & Form 990 (EIN 54-1683946)

Revenue by fiscal year
FY2020	$896K
FY2021	$748K
FY2022	$380K
FY2023	$869K
FY2024	$773K
FY2025	$1.0M

Expenses by fiscal year
FY2020	$1.2M
FY2021	$1.2M
FY2022	$1.1M
FY2023	$926K
FY2024	$909K
FY2025	$945K

Net assets by fiscal year
FY2020	$3.3M
FY2021	$2.8M
FY2022	$2.1M
FY2023	$2.1M
FY2024	$2.0M
FY2025	$2.0M

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII

Ivan Butts

President

$0Pt VII · Sec A

Charles a Mulidore

Exec. Vice President

$0Pt VII · Sec A

James Warden

Secretary/Treasurer

$0Pt VII · Sec A

Brian J Wagner

Immediate Past 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.

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1 program · in their own filed words · FY2022

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 FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$869K

Ln 12

Gifts and grantsLn 1h$599K

Fees for servicesLn 2g$270K

Money outPt IX

$926K

Ln 25

Owns and owesPt X

$2.1M

net assets · Ln 32

Cash and savingsLn 1–2$134K

Total assetsLn 16$2.2M

LiabilitiesLn 26$78K

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$599K

Fees for servicesLn 2g$270K

Total revenueLn 12$869K

Assets in detailPt X, end of year

CashLn 1$134K

Cash and savings togetherLn 1–2$134K

Land, buildings, equipmentLn 10c$2.0M

Total assetsLn 16$2.2M

LiabilitiesLn 26$78K

Net assetsLn 32$2.1M

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$126K	$134K
Land, buildings, equipmentLn 10c	$2.1M	$2.0M
Total assetsLn 16	$2.2M	$2.2M
LiabilitiesLn 26	$81K	$78K
Net assetsLn 32	$2.1M	$2.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$219K
Legal feesLn 11b	$3K
Accounting feesLn 11c	$5K
Advertising and promotionLn 12	$5K
Office expensesLn 13	$50K
Information technologyLn 14	$10K
OccupancyLn 16	$165K
Depreciation, depletion and amortizationLn 22	$128K
InsuranceLn 23	$22K
Other expenses (24a–d)Ln 24	$318K
Total functional expensesLn 25	$926K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.0M	$945K	$95K	$2.0M	990 PDF
FY2024	$773K	$909K	−$137K	$2.0M	990 PDF
FY2023 Viewing	$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	$896K	$1.2M	−$259K	$3.3M	990 PDF

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Schedules filed Part IV

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

See the full FY2023 990 (6 parts)

Part I · Summary $869,005 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $480,000$599,306

I-9 Program service revenuePrior year $203,524$269,699

I-10 Investment incomePrior year −$303,333$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $380,191$869,005

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 $1,077,971$926,285

I-18 Total expensesPrior year $1,077,971$926,285

I-19 Revenue less expensesPrior year −$697,780−$57,280

Part VI · Governance 0 of 4 board members independent, 3 to look at

VI-1a Voting members of the governing body4

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 $869,005 across 4 lines filed

VIII-1d Related organizations$599,306

VIII-1h Total contributions, gifts and grants$599,306

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $269,699$269,699

VIII-12 Total revenueRelated to mission $269,699 · Unrelated business $0 · Excluded from tax $0$869,005

Part IX · Statement of functional expenses $926,285 across 10 lines filed

IX-11a Management fees$219,379

IX-11b Legal fees$2,584

IX-11c Accounting fees$5,350

IX-12 Advertising and promotion$5,188

IX-13 Office expenses$49,702

IX-14 Information technology$10,390

IX-16 Occupancy$165,118

IX-22 Depreciation, depletion and amortization$128,004

IX-23 Insurance$22,137

IX-24 Other expenses (24a–d)$318,433

IX-25 Total functional expenses$926,285

Part X · Balance sheet $2,167,280 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $126,048$133,635

X-4 Accounts receivableStart of year $3,267−$6,024

X-9 Prepaid expenses and deferred chargesStart of year $43,435$63,937

X-10c Land, buildings and equipment, netStart of year $2,054,592$1,975,732

X-16 Total assetsStart of year $2,227,342$2,167,280

X-17 Accounts payable and accrued expensesStart of year $55,895$51,947

X-19 Deferred revenueStart of year $9,489$4,101

X-26 Total liabilitiesStart of year $80,777$77,995

X-27 Net assets without donor restrictionsStart of year $2,146,565$2,089,285

X-32 Total net assets or fund balancesStart of year $2,146,565$2,089,285

X-33 Total liabilities and net assetsStart of year $2,227,342$2,167,280

Part XI · Reconciliation of net assets $2,089,285 net assets at year end

XI-1 Total revenue$869,005

XI-2 Total expenses$926,285

XI-3 Revenue less expenses−$57,280

XI-4 Net assets at start of year$2,146,565

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$2,089,285

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Naps Property INC FY2023 filing

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Naps Property INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV