Academic Assets Inc

Nonprofit profile at a glance

EIN
232455915
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Philadelphia, PA, USA
Phone
2156621500
Rating
30
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$12,032
Expenses
$0
Assets
$36,247,741
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • HELEN Y BOWMAN (PRESIDENT & TREASURER)
  • ALAN GREENBERGER (VICE PRESIDENT)

Highest reported compensation

  • JOHN A FRY (CHAIRMAN OF THE BOARD (TO 9/24)): $1,880,879 total reported compensation
  • HELEN Y BOWMAN (PRESIDENT & TREASURER): $863,727 total reported compensation
  • ALAN GREENBERGER (VICE PRESIDENT): $376,737 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Academic assets, inc. Is a holding company for academic properties, inc. To maximize drexel university real estate holdings to their fullest strategic value with emphasis on serving the university community.

What it reported doing in 2024

Investment in academic properties inc., which provides student housing, classrooms and office space for drexel university.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - Program spending has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 58
  • Accountability: 38
  • Sustainability: 8
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 19th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 37.8% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 24.4% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 1 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.9M · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.