Nonprofit · EIN 23-2455915
ACADEMIC ASSETS INC
Tax-exempt · PHILADELPHIA, PA 19104
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $12,032 | $0 | $12,032 | $36,247,741 | $0 | $36,247,741 |
| June 30, 2024 | 990 | $12,943 | $45,000 | -$32,057 | $33,725,471 | $0 | $33,725,471 |
| June 30, 2023 | 990 | $12,128 | $0 | $12,128 | $31,169,320 | $0 | $31,169,320 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $12,032
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
Balance sheet and other
- Total assets, start of year
- $33,725,471
- Total assets, end of year
- $36,247,741
- Total liabilities, end of year
- $0
- Net assets, end of year
- $36,247,741
- Gross receipts
- $12,032
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1986
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JOHN A FRY | CHAIRMAN OF THE BOARD (TO 9/24) Trustee or director, Officer | 1 | $0 | $1,829,538 | $51,341 |
| HELEN Y BOWMAN | PRESIDENT & TREASURER Trustee or director, Officer | 1 | $0 | $731,029 | $132,698 |
| ALAN GREENBERGER | VICE PRESIDENT Officer | 1 | $0 | $330,492 | $46,245 |
| DONALD LIBERATI | DIRECTOR Trustee or director | 1 | $0 | $203,175 | $27,726 |
| REBECCA LACHER | SECRETARY Officer | 1 | $0 | $187,484 | $17,825 |
| DENIS O'BRIEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JOHN A FRY | CHAIRMAN OF THE BOARD Trustee or director, Officer | 1 | $0 | $2,694,118 | $51,650 |
| HELEN Y BOWMAN | PRESIDENT & TREASURER Trustee or director, Officer | 1 | $0 | $724,556 | $130,154 |
| ALAN GREENBERGER | VICE PRESIDENT Officer | 1 | $0 | $327,464 | $45,439 |
| DONALD LIBERATI | DIRECTOR Trustee or director | 1 | $0 | $200,087 | $25,809 |
| REBECCA LACHER | SECRETARY Officer | 1 | $0 | $177,065 | $26,437 |
990 for the year ended June 30, 2023: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JOHN A FRY | CHAIRMAN OF THE BOARD Trustee or director, Officer | 1 | $0 | $2,077,353 | $157,401 |
| HELEN Y BOWMAN | PRESIDENT & TREASURER Trustee or director, Officer | 1 | $0 | $966,123 | $52,217 |
| ALAN GREENBERGER | VICE PRESIDENT Officer | 1 | $0 | $311,844 | $43,495 |
| LUCY E KERMAN TO 523 | DIRECTOR Trustee or director | 1 | $0 | $239,820 | $32,840 |
| DONALD LIBERATI AS OF 523 | DIRECTOR Trustee or director | 1 | $0 | $198,335 | $24,804 |
| REBECCA LACHER | SECRETARY Officer | 1 | $0 | $166,548 | $32,772 |
Address and contacts
- Address (IRS master file)
- 3201 ARCH ST STE 400, PHILADELPHIA, PA 19104-2755
- Principal officer (990 for 2024)
- ANTONIO MERLO, 3201 ARCH STREET 400, PHILADELPHIA, PA 19104
- Signed the 990
- HELEN Y BOWMAN, PRESIDENT
- Phone
- (215) 662-1500
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.
Program accomplishments
- INVESTMENT IN ACADEMIC PROPERTIES INC., WHICH PROVIDES STUDENT HOUSING, CLASSROOMS AND OFFICE SPACE FOR DREXEL UNIVERSITY.0
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 23-2455915
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1994
- Accounting year ends
- June
- Files
- Form 990-N (e-Postcard)
- Assets (IRS master file)
- $36,247,741
- Income (IRS master file)
- $12,032
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $12,032 | $0 | $36,247,741 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $12,943 | $45,000 | $33,725,471 | IRS |
| 990 | June 2023 | $12,128 | $0 | $31,169,320 | XML |
| 990 | June 2022 | $11,828 | $0 | $28,316,826 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-2455915).
Questions about ACADEMIC ASSETS INC
- What is the EIN of ACADEMIC ASSETS INC?
- The employer identification number (EIN) of ACADEMIC ASSETS INC is 23-2455915.
- Is ACADEMIC ASSETS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to ACADEMIC ASSETS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does ACADEMIC ASSETS INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of ACADEMIC ASSETS INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ACADEMIC ASSETS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ACADEMIC ASSETS INC?
- The 990 for the year ended June 30, 2025 names ANTONIO MERLO.
- Who are the officers and directors of ACADEMIC ASSETS INC?
- The 990 for the year ended June 30, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does ACADEMIC ASSETS INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $12,032, expenses of $0 and total assets of $36,247,741 at year end.
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