Overview
What is Naps Property Inc?
Naps Property Inc, based in Alexandria, Virginia, primarily serves as a property management company. Specifically, they lease commercial office spaces at 1727 and 1729 King Street. Their main objective is to generate rental income, manage expenses, and distribute any remaining profits to the National Association of Postal Supervisors. While not a traditional nonprofit organization focused on social causes, Naps Property Inc contributes to the local business community by providing office spaces for various tenants.
Is Naps Property Inc legitimate?
Naps Property Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Naps Property Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Naps Property Inc?
Naps Property Inc's mission is centered around holding property titles, collecting rental income, covering expenses, and distributing the remaining income to the National Association of Postal Supervisors. Essentially, their primary role is to manage their property portfolio effectively, ensuring a steady income flow for their associated organization.
Who is the CEO of Naps Property Inc?
Ivan Butts is the President of Naps Property Inc.
What is the revenue of Naps Property Inc?
Naps Property Inc's revenue in 2022 was $380,191.
Who are the executives of Naps Property Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $179,619
- Other: $0
- Compensation: $0
- Related: $170,890
- Other: $0
- Compensation: $0
- Related: $48,103
- Other: $0
- Compensation: $0
- Related: $147,643
- Other: $0
Where can I find the form 990 for Naps Property Inc?
Naps Property Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Naps Property Inc
Naps Property Inc, as a mission-driven entity, is dedicated to holding title to commercial property and generating rental income. Its primary objective is to cover expenses and subsequently distribute the remaining net income to the National Association of Postal Supervisors. In essence, Naps Property Inc serves as a financial intermediary, leveraging its property holdings to generate revenue that ultimately benefits its affiliated organization, the National Association of Postal Supervisors.
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Impact
October, 2024
Naps Property Inc plays a significant role in community improvement by managing commercial office spaces that contribute to the local economy in Alexandria, Virginia. By leasing properties located at 1727 and 1729 King Street, the organization provides essential office space for tenants, facilitating business operations and fostering economic activity in the area.
The revenue generated from these leases is strategically utilized; it not only covers operational expenses but also supports the National Association of Postal Supervisors through the distribution of net income. This ensures that resources are directed back into the community, enhancing the support systems for postal supervisors and improving overall community welfare.
Through its activities, Naps Property Inc is not only a landlord but also a catalyst for economic stability and growth, playing an important role in the broader mission of supporting postal professionals while enhancing the local commercial landscape.
This information is meant to be a general summary of Naps Property Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$303,333
- Program Service Revenue: $203,524
- Gross Receipts: $683,524
Assets and Liabilities:
- Total Assets: $2,227,342
- Total Liabilities: $80,777
- Net Assets: $2,146,565
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$151,079
PARKING AND OTHER INCOME
Revenue
$52,445
Organization Details
Founding Year
1993
Phone
(703) 836-9660Principal Officer
Ivan Butts
Main Address
1727 KING STREET SUITE 400, ALEXANDRIA, VA, 22314
NTEE Category
Code: S47 - Community improvement
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