NEWPORT DRIVE PROPERTIES: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: NEWPORT DRIVE PROPERTIES (EIN 27-4373603)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-06-18
IRS object ID: 201311699349300536
Schema version: 2012v2.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-06-18T17:32:28-05:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	GUNAYDIN & COMPANY PC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	535 ROUTE 38 STE 315	AddressLine1
City	CHERRY HILL	City
State	NJ	State
ZIP Code	080022972	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	274373603	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	NEWPORT DRIVE PROPERTIES	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	NEWP	NameControl
Phone	5703572214	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1105 BALKAN DRIVE	AddressLine1
City	PITTSBURGH	City
State	PA	State
ZIP Code	15239	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	YASIN KUCAK	Name
Title	TREASURER	Title
Phone	5703572214	Phone
Date Signed	2013-03-26	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	ALI GUNAYDIN CPA	Name
Phone	4848021418	Phone
Date Prepared	2013-06-13	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	YASIN KUCAK	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	1530 WESTERLY PARKWAY	AddressLine1
City	STATE COLLEGE	City
State	PA	State
ZIP Code	16801	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	227682	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2010	YearFormation
State Legal Domicile	PA	StateLegalDomicile
Activity Or Mission Description	TO OPERATE EXCLUSIVELY FOR THE PURPOSE OF ACQUIRING, HOLDING TITLE TO, AND COLLECTING INCOME FROM REAL PROPERTY, AND REMITTING THE ENTIRE AMOUNTS OF INCOME FROM SUCH PROPERTY (LESS EXPENSES) TO ONE OR MORE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(25)(C) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	3	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	3	NbrIndependentVotingMembers
Total Nbr Employees	0	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Prior Year	2220	ContributionsGrantsPriorYear
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue CY	0	ProgramServiceRevenueCY
Investment Income Current Year	0	InvestmentIncomeCurrentYear
Other Revenue Prior Year	-22939	OtherRevenuePriorYear
Other Revenue Current Year	21368	OtherRevenueCurrentYear
Total Revenue Prior Year	-20719	TotalRevenuePriorYear
Total Revenue Current Year	21368	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Current Year	0	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expenses Current Year	0	OtherExpensesCurrentYear
Total Expenses Current Year	0	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-20719	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	21368	RevenuesLessExpensesCY
Total Assets BOY	1399944	TotalAssetsBOY
Total Assets EOY	1565649	TotalAssetsEOY
Total Liabilities BOY	1420663	TotalLiabilitiesBOY
Total Liabilities EOY	1565000	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	-20719	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	649	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	TO OPERATE EXCLUSIVELY FOR THE PURPOSE OF ACQUIRING, HOLDING TITLE TO, AND COLLECTING INCOME FROM REAL PROPERTY, AND REMITTING THE ENTIRE AMOUNTS OF INCOME FROM SUCH PROPERTY (LESS EXPENSES) TO ONE OR MORE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(25)(C) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Description	RENTAL OF SCHOOL BUILDING TO A NON-PROFIT CHARTER SCHOOL.	Description
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	false	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	1	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	0	NumberOfEmployees
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	3	NbrVotingGoverningBodyMembers
Number Independent Voting Members	3	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	false	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	false	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	YASIN KUCAK	NamePerson
Telephone Number	5703572214	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1105 BALKAN DRIVE	AddressLine1
City	PITTSHBURG	City
State	PA	State
ZIP Code	15239	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (3 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
HASAN OZCAN
PRESIDENT	1.00	X	0	0	0
SAIT ONAL
SECRETARY	1.00	X	0	0	0
YASIN KUCAK
TREASURER	1.00	X	0	0	0

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Gross Rents GrossRents

Field	Value	IRS element (for citing)
Real	227682	Real

Less Rental Expenses LessRentalExpenses

Field	Value	IRS element (for citing)
Real	206314	Real

Rental Income Or Loss RentalIncomeOrLoss

Field	Value	IRS element (for citing)
Real	21368	Real

Net Rental Income Or Loss NetRentalIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	21368	TotalRevenueColumn
Related Or Exempt Function Income	21368	RelatedOrExemptFunctionIncome

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	21368	TotalRevenueColumn
Related Or Exempt Function Income	21368	RelatedOrExemptFunctionIncome

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	0	Total
Program Services	0	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	-32945	BOY
EOY	11584	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	85497	BOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	1561674	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	54338	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	1334182	BOY
EOY	1507336	EOY

Intangible Assets IntangibleAssets

Field	Value	IRS element (for citing)
BOY	13210	BOY
EOY	41729	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
EOY	5000	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	1399944	BOY
EOY	1565649	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
EOY	1500000	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	1420663	BOY
EOY	65000	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	1420663	BOY
EOY	1565000	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	-20719	BOY
EOY	649	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	-20719	BOY
EOY	649	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	1399944	BOY
EOY	1565649	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	21368	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	true	AccountantCompileOrReview

Accountant Compile Or Review Basis AccountantCompileOrReviewBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
FS Audited	false	FSAudited

Schedule D IRS990ScheduleD

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	821179	OtherCostOrOtherBasis
Depreciation	35093	Depreciation
Book Value	786086	BookValue

Leasehold Improvements LeaseholdImprovements

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	530440	OtherCostOrOtherBasis
Depreciation	17001	Depreciation
Book Value	513439	BookValue

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	210055	OtherCostOrOtherBasis
Depreciation	2244	Depreciation
Book Value	207811	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	1507336	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities (3 entries)

DescriptionDescription	AmountAmount
DUE TO DREAM SCHOOLS INC	$65,000
DUE TO APPLE EDUCATIONAL SERVICES
ACCRUED INTEREST DUE TO APPLE EDUCAT

Field	Value	IRS element (for citing)
Total Of Amounts	65000	TotalOfAmounts

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (3 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ORGANIZATION'S MISSION	FORM 990 - ORGANIZATION'S MISSION	TO OPERATE EXCLUSIVELY FOR THE PURPOSE OF ACQUIRING, HOLDING TITLE TO, AND COLLECTING INCOME FROM REAL PROPERTY, AND REMITTING THE ENTIRE AMOUNTS OF INCOME FROM SUCH PROPERTY (LESS EXPENSES) TO ONE OR MORE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(25)(C) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	THE FORM 990 WILL BE REVIEWED BY BOARD MEMBERS BEFORE FILING THE RETURN.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	THE DOCUMENTS ARE AVAILABLE TO PUBLIC UPON REQUEST