Civic Intelligence

Centreport Properties Inc C/O Aew Capital Management LP

990 • Fiscal year 2018 • EIN 04-3363330

Jan 01, 2018 to Dec 31, 2018 • Filed on May 11, 2019

Organization ProfileN/A
Two Seaport LaneBoston, MA 02210

(617) 261-9000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.02x

Higher debt load relative to assets than 21% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

29th percentile

0.13x

Higher debt load relative to revenue than 29% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Source year 2018

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

11th percentile

$0

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • $50M-$100M nonprofits • Source year 2018

Asset Growth

82nd percentile

13%

Faster asset growth than 82% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

54th percentile

6.3%

Faster revenue growth than 54% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$58,250,720

Up $6,537,553 (+13%) from 2017

Net Assets

Up

$57,139,790

Up $6,606,743 (+13%) from 2017

Liabilities

Down

$1,110,930

Down $69,190 (-5.9%) from 2017

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin94th percentile

Revenue

Up

$8,463,888

Up $503,632 (+6.3%) from 2017

Expenses

Up

$2,665,708

Up $312,105 (+13%) from 2017

Net Income

Up

$5,798,180

Up $191,527 (+3.4%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $44,343,212Liabilities 2010: $13,735,586Net Assets 2010: $30,607,6262010Assets 2011: $51,639,285Liabilities 2011: $13,524,284Net Assets 2011: $38,115,0012011Assets 2012: $0Liabilities 2012: $0Net Assets 2012: $02012Assets 2013: $43,583,199Liabilities 2013: $1,144,667Net Assets 2013: $42,438,5322013Assets 2014: $46,375,445Liabilities 2014: $3,380,066Net Assets 2014: $42,995,3792014Assets 2015: $49,027,386Liabilities 2015: $936,807Net Assets 2015: $48,090,5792015Assets 2016: $47,718,061Liabilities 2016: $1,131,548Net Assets 2016: $46,586,5132016Assets 2017: $51,713,167Liabilities 2017: $1,180,120Net Assets 2017: $50,533,0472017Assets 2018: $58,250,720Liabilities 2018: $1,110,930Net Assets 2018: $57,139,7902018Assets 2019: $46,118,607Liabilities 2019: $1,731,129Net Assets 2019: $44,387,4782019Assets 2020: $83,096,147Liabilities 2020: $658,711Net Assets 2020: $82,437,4362020Assets 2021: $24,191,623Liabilities 2021: $429,469Net Assets 2021: $23,762,1542021Assets 2022: $199,816Liabilities 2022: $0Net Assets 2022: $199,8162022Assets 2023: $43,523Liabilities 2023: $0Net Assets 2023: $43,5232023Assets 2024: $32,077Liabilities 2024: $0Net Assets 2024: $32,0772024

Highlighted filing

2018

Assets$58,250,720
Liabilities$1,110,930
Net Assets$57,139,790
Open 2018 Filing

Operations Trend

Revenue Growth54th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $3,440,3952010Expenses 2011: $3,709,8372011Expenses 2012: $1,273,0062012Revenue 2013: $6,351,734Expenses 2013: $2,386,722Net Income 2013: $3,965,0122013Revenue 2014: $5,702,798Expenses 2014: $2,114,232Net Income 2014: $3,588,5662014Revenue 2015: $6,166,285Expenses 2015: $2,188,103Net Income 2015: $3,978,1822015Revenue 2016: $7,315,908Expenses 2016: $2,243,469Net Income 2016: $5,072,4392016Revenue 2017: $7,960,256Expenses 2017: $2,353,603Net Income 2017: $5,606,6532017Revenue 2018: $8,463,888Expenses 2018: $2,665,708Net Income 2018: $5,798,1802018Revenue 2019: $7,280,952Expenses 2019: $2,431,593Net Income 2019: $4,849,3592019Revenue 2020: $7,475,058Expenses 2020: $2,385,595Net Income 2020: $5,089,4632020Revenue 2021: $34,823,606Expenses 2021: $830,987Net Income 2021: $33,992,6192021Revenue 2022: $5,452,411Expenses 2022: $565,950Net Income 2022: $4,886,4612022Revenue 2023: $1Expenses 2023: $9,294Net Income 2023: -$9,2932023Revenue 2024: $60Expenses 2024: $11,602Net Income 2024: -$11,5422024

Highlighted filing

2018

Revenue$8,463,888
Expenses$2,665,708
Net Income$5,798,180
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 11, 2019
Return Version
2018v3.1
Gross Receipts
$8,463,888
Mission and Program Overview

Mission

Title holding company for real property

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$46,804,439$53,411,182▲ $6,606,743
Land, Buildings, and Equipment, Net$47,200,000$49,099,999▲ $1,899,999
Savings and Temporary Cash Investments$3,825,725$8,613,195▲ $4,787,470
Cap Stk Tr Prin Current Funds$3,728,608$3,728,608→ $0
Accounts Receivable$654,780$507,222▼ $147,558
Prepaid Expenses and Deferred Charges$11,510$30,304▲ $18,794
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$51,713,167$58,250,720▲ $6,537,553
Other Assets Total$21,152$0▼ $21,152
Liabilities
Accounts Payable and Accrued Expenses$906,202$1,035,688▲ $129,486
Other Liabilities$273,918$75,242▼ $198,676
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,180,120$1,110,930▼ $69,190
Net Assets / Fund Balance
Total Net Assets Fund Balance$50,533,047$57,139,790▲ $6,606,743
Total Liabilities and Net Assets / Fund Balance$51,713,167$58,250,720▲ $6,537,553

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,341,697--
Other Land Buildings$19,116,033--
Land$3,695,875--
Leasehold Improvements$15,946,394--
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
See Attached StatementOfficer

Highest Paid Contractors

ContractorServicesLocationCompensation
Aew Capital Management LPManagement2 SEAPORT LANE, Boston, MA 02210$165,201
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,543,631
Investment Income
$863
Other Revenue
$1,919,394
Change in Net Assets
$5,798,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,647,708
Salaries, Compensation, and Employee Benefits$18,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$508,334--$508,334
Other Expenses$239,643--$239,643
Fees for Services Legal$48,571--$48,571
Office Expenses$37,851--$37,851
Insurance$25,880--$25,880
Other Salaries and Wages$18,000--$18,000
Fees for Services Accounting$10,099--$10,099
Fees for Services Other$2,320--$2,320
Advertising$352--$352
Total Functional Expenses$2,665,708$0$0$2,665,708
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$75,242
Prepaid Rent$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 3:

“Day-to-day operations of the investment property are overseen by the property manager. The investment manager, aew capital management, l.p. Manages the investment. The investment manager is compensated for this service by the sole shareholder and this is treated as a capital contribution by the organization.”

FORM 990, PART VI, SECTION A, LINE 6:

“The members are pension trusts described in and exempt from federal income tax under 401 and 501 of the internal revenue code. FORM 990, PART VI, SECTION A, LINE 7A: 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 PARENT MAY VETO OR CONFIRM DECISIONS MADE BY THE ORGANIZING OFFICERS. ALL OFFICERS AND DIRECTORS ARE INDEPENDENT.”

FORM 990, PART VI, SECTION A, LINE 8B:

“The organization has no committees with authority to act on behalf of the governing body.”

FORM 990, PART VI, SECTION B, LINE 11:

“The organization's financial statements are prepared by its financial reporting and tax department. Form 990 is prepared by a paid preparer, pricewaterhousecoopers llp.”

FORM 990, PART VI, SECTION C, LINE 19:

“Information about the organization's investment programs and the financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Centreport Properties LLC
EIN
04-3363330
In Care Of
% AEW CAPITAL MANAGEMENT
Phone
6172619000
Address
TWO SEAPORT LANE, BOSTON, MA 02210

Signing Officer

Name
Susan Bouchard
Title
VP
Phone
6172619000
Signed
2019-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Bradley
Formed
1997
Legal Domicile
TX
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Pricewaterhousecoopers Llp
Address
101 SEAPORT BLVD SUITE 500, BOSTON, MA 02210
Preparer
John Sheehan
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“description amount distributions NONE contributions 165,201 ____________ Total 165,201”

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Raw XML AppendixShowing 400 of 425 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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IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt015946394
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt019116033
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt10
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENT
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IRS990ScheduleD/TotalLiabilityAmt075242
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAY-TO-DAY OPERATIONS OF THE INVESTMENT PROPERTY ARE OVERSEEN BY THE PROPERTY MANAGER. THE INVESTMENT MANAGER, AEW CAPITAL MANAGEMENT, L.P. MANAGES THE INVESTMENT. THE INVESTMENT MANAGER IS COMPENSATED FOR THIS SERVICE BY THE SOLE SHAREHOLDER AND THIS IS TREATED AS A CAPITAL CONTRIBUTION BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The members are pension trusts described in and exempt from federal income tax under 401 and 501 of the internal revenue code. FORM 990, PART VI, SECTION A, LINE 7A: 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 PARENT MAY VETO OR CONFIRM DECISIONS MADE BY THE ORGANIZING OFFICERS. ALL OFFICERS AND DIRECTORS ARE INDEPENDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FINANCIAL STATEMENTS ARE PREPARED BY ITS FINANCIAL REPORTING AND TAX DEPARTMENT. FORM 990 IS PREPARED BY A PAID PREPARER, PRICEWATERHOUSECOOPERS LLP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INFORMATION ABOUT THE ORGANIZATION'S INVESTMENT PROGRAMS AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5description amount distributions NONE contributions 165,201 ____________ Total 165,201
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1GM Retirement Program Salaried Employees
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Pension Plan
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Pension Plan
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1C/O AEW Two Seaport Lane
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Boston
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Boston
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt082600
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt182601
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1GM RETIREMENT PROGRAM SALARIES EMPLOYEES
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1C
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IRS990/TerminateOperationsInd0false
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IRS990/VotingMembersIndependentCnt00
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTREPORT PROPERTIES LLC
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ReturnHeader/Filer/EIN0043363330

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$58,250,720
Liabilities
$1,110,930
Net assets
$57,139,790
Revenue
$8,463,888
Expenses
$2,665,708
Net income
$5,798,180
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.00$0.01$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.00$0.01$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$5.45$0.57$4.89
2021Detailed filing. Detailed filing data is available for this year.$24.2$0.43$23.8$34.8$0.83$34.0
2020Detailed filing. Detailed filing data is available for this year.$83.1$0.66$82.4$7.48$2.39$5.09
2019Detailed filing. Detailed filing data is available for this year.$46.1$1.73$44.4$7.28$2.43$4.85
2018Detailed filing. Detailed filing data is available for this year.$58.3$1.11$57.1$8.46$2.67$5.80
2017Detailed filing. Detailed filing data is available for this year.$51.7$1.18$50.5$7.96$2.35$5.61
2016Detailed filing. Detailed filing data is available for this year.$47.7$1.13$46.6$7.32$2.24$5.07
2015Detailed filing. Detailed filing data is available for this year.$49.0$0.94$48.1$6.17$2.19$3.98
2014Detailed filing. Detailed filing data is available for this year.$46.4$3.38$43.0$5.70$2.11$3.59
2013Summary only. Only limited summary data is available for this year.$43.6$1.14$42.4$6.35$2.39$3.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$1.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$51.6$13.5$38.1$3.71
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.3$13.7$30.6$3.44