NARAS PROPERTIES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1994

Legal Domicile

Principal Officer

WAYNE J ZAHNER

Phone

3103923777

Tax Period

2024-08-01 to 2025-07-31

NARAS PROPERTIES INC, founded in 1994, is a community nonprofit that reported $5.3M in total revenue in fiscal year 2024. The organization ran a surplus of $3.6M, a strong 69% operating margin.

Mission

TO HOLD REAL PROPERTY, COLLECT RENT THEREFROM AND TURN OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO THE NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC.

Program Service Accomplishments

Program 1

THE ORGANIZATION COLLECTS INCOME ON REAL PROPERTIES FOR THE BENEFIT OF NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,260,216

Investment Income $0

Other Revenue $0

TOTAL REVENUE $5,260,216

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,632,206

TOTAL EXPENSES $1,632,206

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,260,216	$5,260,216	N/A
Expenses	$1,632,206	$1,624,564	+0.0%
Net Income	$3,628,010	$3,635,652	0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,451,414

Total Directors

$2,050,912

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARVEY MASON JR	CHIEF EXECUTIVE OFFICER	1.20	Officer Director	$0	$15,959	$957,004
BRANDEN CHAPMAN	DIRECTOR	1.20	Director	$0	$28,075	$599,498
WAYNE J ZAHNER	CHIEF FINANCIAL OFFICER	1.20	Officer Director	$0	$31,275	$494,410

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$5,260,216	$1,632,206	$54,828,609	$3,628,010
2024	$5,260,216	$1,624,564	$51,200,599	$3,635,652
2023	$5,186,275	$1,708,206	$48,820,821	$3,478,069
2022	$4,458,045	$1,252,597	$50,347,276	$3,205,448
2021	$4,458,045	$1,202,872	$51,304,721	$3,255,173
2020	$4,458,045	$1,199,132	$51,150,141	$3,258,913
2019	$3,928,213	$1,215,753	$49,823,974	$2,712,460
2018	$3,926,272	$1,226,683	$49,851,399	$2,699,589