Liabilities / Assets
53rd percentile
Higher debt load relative to assets than 53% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.19x
Liabilities / Revenue
14th percentile
Higher debt load relative to revenue than 14% of similar nonprofits.
Net Margin
100th percentile
Higher net margin than 100% of similar nonprofits.
Top Officer Pay
16th percentile
Higher top officer pay than 16% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
1st percentile
Faster asset growth than 1% of similar nonprofits.
Revenue Growth
99th percentile
Faster revenue growth than 99% of similar nonprofits.
Balance Sheet
Assets
Down$159,750
Down $44,132,852 (-100%) from 2020
Net Assets
Down$128,652
Down $42,926,630 (-100%) from 2020
Liabilities
Down$31,098
Down $1,206,222 (-97%) from 2020
Revenue And Expenses
Revenue
Up$27,274,865
Up $25,615,860 (+1544%) from 2020
Expenses
Flat$0
Flat from 2020
Net Income
Up$27,274,865
Up $25,615,860 (+1544%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2020 to Jun 30, 2021
- Signed
- May 13, 2022
- Return Version
- 2020v4.2
- Gross Receipts
- $62,729,058
Mission and Program Overview
Mission
Pension benefit organization
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Rtn Earn Endowment Incm Other Fnds | $31,420,474 | $47,996,373 | ▲ $16,575,899 |
| Land, Buildings, and Equipment, Net | $44,100,000 | - | - |
| Cash and Non-Interest-Bearing Accounts | $132,658 | $104,591 | ▼ $28,067 |
| Accounts Receivable | $18,774 | $55,159 | ▲ $36,385 |
| Prepaid Expenses and Deferred Charges | $41,170 | - | - |
| Cap Stk Tr Prin Current Funds | $500 | $500 | → $0 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $11,634,308 | $-47,868,221 | ▼ $59,502,529 |
| Total Assets | $44,292,602 | $159,750 | ▼ $44,132,852 |
| Liabilities | |||
| Other Liabilities | $155,713 | - | - |
| Deferred Revenue | $51,004 | - | - |
| Accounts Payable and Accrued Expenses | $1,030,603 | $31,098 | ▼ $999,505 |
| Total Liabilities | $1,237,320 | $31,098 | ▼ $1,206,222 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $43,055,282 | $128,652 | ▼ $42,926,630 |
| Total Liabilities and Net Assets / Fund Balance | $44,292,602 | $159,750 | ▼ $44,132,852 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Michael Kirby | President |
| Bert J Crouch | Vice President |
| Cain Kirk | Vice President |
| Chris Cleghorn | Vice President |
| Duncan Walker | Vice President |
| Jackson Lapin | Vice President |
| Jason W Geer | Vice President |
| Kevin Pirozzoli | Vice President |
| Lee Phegley | Vice President |
| Perry Chudnoff | Vice President |
| Peter Feinberg | Vice President |
| Tom Hurst | Vice President |
| Jeff Cavanaugh | Vice President (end 3/31/21) |
| David C Gillan | Director |
| Joseph Indelicato Jr | Director |
| Thomas K Lee | Director |
| Adam Lesnick | Assistant Secretary (as of 4/30/21) |
| Jeffrey D Silverstein | Assistant Secretary (end 4/22/21) |
| Rhona J Kisch | Secretary (as of 4/30/21) |
| Mark a Brody | Secretary (end 4/30/21) |
| Haley Waldron | Treasurer (as of 9/1/20) |
| Tracy Green | Treasurer (end 8/31/20) |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Cbre INC | Property Maintenance | PO BOX 848844, Los Angeles, CA 90084 | $111,627 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $0
- Investment Income
- $25,357,244
- Other Revenue
- $1,917,621
- Change in Net Assets
- $27,274,865
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $27,274,865
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $-9,638,029
- Total Revenue per Audited Statements
- $17,636,836
- Total Revenue per Form 990
- $27,274,865
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $0 |
| Other Expenses | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses Not Reported on Form 990 | $1,061,437 |
| Total Expenses per Audited Statements | $1,061,437 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses per Audited Statements | $0 |
| Total Expenses per Form 990 | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 2
“Directors thomas k. Lee, joseph indelicato jr., and david c. Gillan have a business relationship.”
Form 990, Part VI, Section A, Line 6
“The organization's governing body is comprised of officers and directors. The directors were elected under the by-laws of the organization. All officers are appointed by the organization's directors. All officers and directors act to carry out the business of the organization. Subject to the by-laws, the sole member, nys teachers' retirement system (nystrs), may veto or confirm decisions made by the organization's officers.”
Form 990, Part VI, Section A, Line 7A
“See explanation for part vi, section a, line 6.”
Form 990, Part VI, Section A, Line 7B
“See explanation for part vi, section a, line 6.”
Form 990, Part VI, Section B, Line 11B
“The officers of the organization are responsible to review the form 990 prior to filing. The new york state teachers' retirement system receives a copy of the filed form 990.”
Form 990, Part VI, Section B, Line 12C
“The organization's conflict of interest policy is the sole responsibility of nystrs. The nystrs code of ethics requires that employees review and sign an annual disclosure statement with human resources by january 10 of each year. Any potential conflicts of interest, including elected positions, business holdings, investment interests, etc. Of employees or their spouse, dependent, or member of household must be disclosed.”
Form 990, Part VI, Section B, Line 15
“The organization is an irc 501(c)(25) entity holding title to rental real property and remitting the net income to the new york state teachers' retirement system, an irc 401(a) organization. Additionally, the organization does not have any employees therefore there are no processes related to employee compensation.”
Form 990, Part VI, Section C, Line 18
“The pension benefit organization makes the documents referenced in questions 18 and 19 available upon request to the public. The form 990 is also available to the general public at www.guidestar.com.”
Form 990, Part VI, Section C, Line 19
“See explanation for part vi, section c, line 18.”
Form 990, Part VII, Section A
“Nys teachers retirement system (nystrs) is a section 401(a) trust that is related to knickerbocker properties, inc. Xv (xv), and xv's three directors are employed by nystrs. The organization's three directors are thomas lee, executive director and cio of nystrs; david c gillan, managing director of real estate at nystrs; and joseph indelicato jr., nystrs general counsel. As part of the annual tax compliance process, xv asked nystrs for the compensation information for these three individuals who are employed by the nystrs. Xv made reasonable efforts to obtain compensation information and requests were made both in writing and via phone calls. Xv was unable to obtain the compensation information from nystrs and is unable to provide a reasonable estimate of this information.”
Filing and Contact Details
Filer
- Filer Name
- Knickerbocker Properties Inc Xv
- EIN
- 04-3255688
- Phone
- 9727157400
- Address
- 2001 ROSS AVENUE SUITE 3400, DALLAS, TX 75201
Signing Officer
- Name
- Lee Phegley
- Title
- Vice President
- Phone
- 9727157400
- Signed
- 2022-05-13
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Michael Kirby
- Formed
- 1994
- Legal Domicile
- De
- Voting Board Members
- 3
- Independent Board Members
- 0
- Employees
- 0
- Volunteers
- 3
Preparer
- Firm
- Kpmg Llp
- Address
- 550 S HOPE ST STE 1500, LOS ANGELES, CA 90071
- Preparer
- Pablo Cora
- Phone
- 2139724000
Supplemental Narrative
Additional Explanations
FORM 990, PART XI, LINE 9:
“Distributions to nystrs -59,502,029.”
Financial Statement Notes
PART X, LINE 2:
“The companies are recognized as 501(c)(25) corporations under the internal revenue code and as such are qualified to be exempt from income taxes under 501(a) of the code. Accordingly, there is no provision for federal, state, or local income taxes. The advisory account recognizes a tax benefit from an uncertain position only if it is more likely than not that the position is sustainable, based solely on its technical merits and consideration of the relevant taxing authority's widely understood administrative practices and precedents. If this threshold is met, the advisory account measures the tax benefit as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No accrual was deemed necessary at june 30, 2021. The companies are subject to filing requirements in the u.s. And various state jurisdictions. The u.s. Federal and state corporate tax returns have open statutes of limitations for the 2018 and subsequent tax years as of june 30, 2021. In addition, the advisory account does not expect a significant change in uncertain tax positions during the twelve months subsequent to june 30, 2021.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Rental expenses 1,061,437.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Rental expenses 1,061,437.”
Raw XML AppendixShowing 400 of 581 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/EmployeeCnt | 0 | 0 |
| IRS990/ExpenseAmt | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 18 | JEFFREY D SILVERSTEIN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 19 | RHONA J KISCH |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 20 | ADAM LESNICK |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 21 | HALEY WALDRON |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 16 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 17 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 18 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 19 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 20 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 16 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 17 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 18 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 19 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 20 | 0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | VICE PRESIDENT (END 3/31/21) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | VICE PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | TREASURER (END 8/31/20) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 17 | SECRETARY (END 4/30/21) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 18 | ASSISTANT SECRETARY (END 4/22/21) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 19 | SECRETARY (AS OF 4/30/21) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 20 | ASSISTANT SECRETARY (AS OF 4/30/21) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 21 | TREASURER (AS OF 9/1/20) |
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| IRS990/FormationYr | 0 | 1994 |
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| IRS990/FSAuditedInd | 0 | 1 |
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| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 3 |
| IRS990/GrantAmt | 0 | 0 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 59750000 |
| IRS990/GrossReceiptsAmt | 0 | 62729058 |
| IRS990/GrossRentsGrp/RealAmt | 0 | 2979058 |
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| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
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| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
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| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 1061437 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
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| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | PENSION BENEFIT ORGANIZATION |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 128652 |
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| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 25357244 |
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| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -59502029 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 155713 |
| IRS990/OtherWebsiteInd | 0 | X |
| IRS990/PartialLiquidationInd | 0 | 1 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 11634308 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | -47868221 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
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| IRS990/PrincipalOfficerNm | 0 | MICHAEL KIRBY |
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| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
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| IRS990/PYRevenuesLessExpensesAmt | 0 | 1659005 |
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| IRS990/PYTotalExpensesAmt | 0 | 0 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 1659005 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 27274865 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 1917621 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 31420474 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 47996373 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 1061437 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 0 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | -10699466 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 1061437 |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 1061437 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | -9638029 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 27274865 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE COMPANIES ARE RECOGNIZED AS 501(C)(25) CORPORATIONS UNDER THE INTERNAL REVENUE CODE AND AS SUCH ARE QUALIFIED TO BE EXEMPT FROM INCOME TAXES UNDER 501(A) OF THE CODE. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL, STATE, OR LOCAL INCOME TAXES. THE ADVISORY ACCOUNT RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE POSITION IS SUSTAINABLE, BASED SOLELY ON ITS TECHNICAL MERITS AND CONSIDERATION OF THE RELEVANT TAXING AUTHORITY'S WIDELY UNDERSTOOD ADMINISTRATIVE PRACTICES AND PRECEDENTS. IF THIS THRESHOLD IS MET, THE ADVISORY ACCOUNT MEASURES THE TAX BENEFIT AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. NO ACCRUAL WAS DEEMED NECESSARY AT JUNE 30, 2021. THE COMPANIES ARE SUBJECT TO FILING REQUIREMENTS IN THE U.S. AND VARIOUS STATE JURISDICTIONS. THE U.S. FEDERAL AND STATE CORPORATE TAX RETURNS HAVE OPEN STATUTES OF LIMITATIONS FOR THE 2018 AND SUBSEQUENT TAX YEARS AS OF JUNE 30, 2021. IN ADDITION, THE ADVISORY ACCOUNT DOES NOT EXPECT A SIGNIFICANT CHANGE IN UNCERTAIN TAX POSITIONS DURING THE TWELVE MONTHS SUBSEQUENT TO JUNE 30, 2021. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | RENTAL EXPENSES 1,061,437. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | RENTAL EXPENSES 1,061,437. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 0 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 27274865 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 17636836 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 1061437 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleN/DirectorOfSuccessor2Ind | 0 | 0 |
| IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 0 | CASH DISTRIBUTION |
| IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 0 | NYSTRS |
| IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt | 0 | 2021-06-30 |
| IRS990ScheduleN/DispositionOfAssetsDetail/EIN | 0 | 146000735 |
| IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt | 0 | 59502029 |
| IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt | 0 | 401(A) |
| IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt | 0 | CASH VALUE |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt | 0 | 10 CORPORATE WOODS DR |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm | 0 | ALBANY |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd | 0 | NY |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd | 0 | 12111 |
| IRS990ScheduleN/EmployeeOfSuccessor2Ind | 0 | 0 |
| IRS990ScheduleN/OwnerOfSuccessor2Ind | 0 | 0 |
| IRS990ScheduleN/ReceiveCompensation2Ind | 0 | 0 |
| IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION IS AN IRC 501(C)(25) ENTITY HOLDING TITLE TO RENTAL REAL PROPERTY. ON MAY 7, 2021, THE ORGANIZATION SOLD ITS GLENDALE HEIGHTS, ILLINOIS PROPERTY FOR $59,750,000 TO BCIF ACQUISITIONS LLC, IN AN ARMS-LENGTH TRANSACTION. A SUBSEQUENT CASH DISTRIBUTION TO THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM, AN IRC 401(A) RELATED ORGANIZATION, WAS MADE IN THE AMOUNT OF $59,502,029. THIS DISTRIBUTION REPRESENTS IN EXCESS OF 100% OF BEGINNING NET ASSETS, OR $43,055,282. THE ENDING NET ASSET BALANCE AT 06/30/2021 WAS $159,750. |
| IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE N, PART II |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | DIRECTORS THOMAS K. LEE, JOSEPH INDELICATO JR., AND DAVID C. GILLAN HAVE A BUSINESS RELATIONSHIP. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION'S GOVERNING BODY IS COMPRISED OF OFFICERS AND DIRECTORS. THE DIRECTORS WERE ELECTED UNDER THE BY-LAWS OF THE ORGANIZATION. ALL OFFICERS ARE APPOINTED BY THE ORGANIZATION'S DIRECTORS. ALL OFFICERS AND DIRECTORS ACT TO CARRY OUT THE BUSINESS OF THE ORGANIZATION. SUBJECT TO THE BY-LAWS, THE SOLE MEMBER, NYS TEACHERS' RETIREMENT SYSTEM (NYSTRS), MAY VETO OR CONFIRM DECISIONS MADE BY THE ORGANIZATION'S OFFICERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | SEE EXPLANATION FOR PART VI, SECTION A, LINE 6. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | SEE EXPLANATION FOR PART VI, SECTION A, LINE 6. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE OFFICERS OF THE ORGANIZATION ARE RESPONSIBLE TO REVIEW THE FORM 990 PRIOR TO FILING. THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM RECEIVES A COPY OF THE FILED FORM 990. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS THE SOLE RESPONSIBILITY OF NYSTRS. THE NYSTRS CODE OF ETHICS REQUIRES THAT EMPLOYEES REVIEW AND SIGN AN ANNUAL DISCLOSURE STATEMENT WITH HUMAN RESOURCES BY JANUARY 10 OF EACH YEAR. ANY POTENTIAL CONFLICTS OF INTEREST, INCLUDING ELECTED POSITIONS, BUSINESS HOLDINGS, INVESTMENT INTERESTS, ETC. OF EMPLOYEES OR THEIR SPOUSE, DEPENDENT, OR MEMBER OF HOUSEHOLD MUST BE DISCLOSED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE ORGANIZATION IS AN IRC 501(C)(25) ENTITY HOLDING TITLE TO RENTAL REAL PROPERTY AND REMITTING THE NET INCOME TO THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM, AN IRC 401(A) ORGANIZATION. ADDITIONALLY, THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES THEREFORE THERE ARE NO PROCESSES RELATED TO EMPLOYEE COMPENSATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE PENSION BENEFIT ORGANIZATION MAKES THE DOCUMENTS REFERENCED IN QUESTIONS 18 AND 19 AVAILABLE UPON REQUEST TO THE PUBLIC. THE FORM 990 IS ALSO AVAILABLE TO THE GENERAL PUBLIC AT WWW.GUIDESTAR.COM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | SEE EXPLANATION FOR PART VI, SECTION C, LINE 18. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | NYS TEACHERS RETIREMENT SYSTEM (NYSTRS) IS A SECTION 401(A) TRUST THAT IS RELATED TO KNICKERBOCKER PROPERTIES, INC. XV (XV), AND XV'S THREE DIRECTORS ARE EMPLOYED BY NYSTRS. THE ORGANIZATION'S THREE DIRECTORS ARE THOMAS LEE, EXECUTIVE DIRECTOR AND CIO OF NYSTRS; DAVID C GILLAN, MANAGING DIRECTOR OF REAL ESTATE AT NYSTRS; AND JOSEPH INDELICATO JR., NYSTRS GENERAL COUNSEL. AS PART OF THE ANNUAL TAX COMPLIANCE PROCESS, XV ASKED NYSTRS FOR THE COMPENSATION INFORMATION FOR THESE THREE INDIVIDUALS WHO ARE EMPLOYED BY THE NYSTRS. XV MADE REASONABLE EFFORTS TO OBTAIN COMPENSATION INFORMATION AND REQUESTS WERE MADE BOTH IN WRITING AND VIA PHONE CALLS. XV WAS UNABLE TO OBTAIN THE COMPENSATION INFORMATION FROM NYSTRS AND IS UNABLE TO PROVIDE A REASONABLE ESTIMATE OF THIS INFORMATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 10 | DISTRIBUTIONS TO NYSTRS -59,502,029. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION B, LINE 15 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $159,750
- Liabilities
- $31,098
- Net assets
- $128,652
- Revenue
- $27,274,865
- Expenses
- $0
- Net income
- $27,274,865