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Nonprofiteer
← NAPS PROPERTY INC

Form 990 for tax year 2023

Filed by NAPS PROPERTY INC.

Totals

Total revenue
$772,537
Total expenses
$909,298
Contributions and grants received
$402,500
Grants paid
$0
Program service revenue
$370,037
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,017,149
Total liabilities, end of year
$64,625
Net assets or fund balances, end of year
$1,952,524
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $402,500

  • 2a · Program service revenue: RENTAL INCOME

    total $340,017 · related or exempt $340,017

  • 2b · Program service revenue: PARKING AND OTHER INCO

    total $30,020 · related or exempt $30,020

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $248,594

  • 11b · Fees: legal

    total $634

  • 12 · Advertising and promotion

    total $4,763

  • 13 · Office expenses

    total $34,246

  • 14 · Information technology

    total $9,792

  • 16 · Occupancy

    total $143,134

  • 22 · Depreciation, depletion and amortization

    total $131,152

  • 23 · Insurance

    total $23,463

  • 24a · Other expenses: ASSOCIATION DUES

    total $201,604

  • 24b · Other expenses: REPAIR AND MAINTENANCE

    total $111,916

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $133,635 · end of year $108,129

  • 4 · Accounts receivable

    beginning of year -$6,024 · end of year $3,468

  • 9 · Prepaid expenses and deferred charges

    beginning of year $63,937 · end of year $60,972

  • 10a · Land, buildings and equipment: cost or other basis

    $5,465,822

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,621,242

  • 10c · Land, buildings and equipment, net

    beginning of year $1,975,732 · end of year $1,844,580

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,947 · end of year $33,765

  • 19 · Deferred revenue

    beginning of year $4,101 · end of year $8,913

  • 21 · Escrow or custodial account liability

    beginning of year $21,947 · end of year $21,947

  • 27 · Net assets without donor restrictions

    beginning of year $2,089,285 · end of year $1,952,524

Mission and programs · 2023

Mission

TO HOLD TITLE AND COLLECT RENTAL INCOME, PAY EXPENSES, AND DISTRIBUTE NET INCOME TO THE NATIONAL ASSOCIATION OF POSTAL SUPERVISORS.

Activities or mission (Part I)

SEE SCHEDULE O

  • NAPS PROPERTY, INC. LEASED COMMERCIAL OFFICE SPACE LOCATED AT 1727 AND 1729 KING STREET IN ALEXANDRIA, VIRGINIA TO TENANTS.

As filed on the 2023 return.

Listed in Part VII

  • Ivan Butts

    PRESIDENT

    Total calculated
    $207,641
    From this org
    $0
    From related orgs
    $200,586
    Other
    $7,055
    Hours/week
    1 + 57 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,586 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,055 related
    Filer's total
    $0 + $207,641 related
  • Charles A Mulidore

    EXEC. VICE PRESIDENT

    Total calculated
    $191,470
    From this org
    $0
    From related orgs
    $188,600
    Other
    $2,870
    Hours/week
    1 + 57 related

    Schedule J breakdown matched by us

    Base
    $0 + $188,600 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $2,870 related
    Filer's total
    $0 + $191,470 related
  • James Warden

    SECRETARY/TREASURER

    Total calculated
    $182,158
    From this org
    $0
    From related orgs
    $175,091
    Other
    $7,067
    Hours/week
    5 + 53 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,091 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,067 related
    Filer's total
    $0 + $182,158 related
  • Brian J Wagner

    IMMEDIATE PAST PRESIDENT (OUTGOING)

    Total calculated
    $3,300
    From this org
    $0
    From related orgs
    $3,300
    Other
    $0
    Hours/week
    1 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • NAT'L ASS'N OF POSTAL SUPERVISORS

    501(C)(5) · PROFESSIONAL ASSOCIATION · VA

  • SUPERVISORS POLITICAL ACTION COMMITTEE

    527 · POLITICAL ACTIVITY · VA

    Directly controlled by NAPS

Provenance

Return type
form_990
Tax year
2023
Filed
7 April 2025
IRS schema version
2023v6.0
Source object
202520999349301222

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