Civic Intelligence

Sfers Real Estate Corp Ee

EIN 11-3651182 • 501(c)25 • San Francisco, CA

Profile

Title Holding Corporation For Real Property

101 California St 26th FloorSan Francisco, CA 94111

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

76th percentile

0.48x

Higher debt load relative to assets than 76% of similar nonprofits.

$25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

$25M-$50M nonprofits • Source year 2013

Net Margin

95th percentile

84%

Higher net margin than 95% of similar nonprofits.

$25M-$50M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

1st percentile

-96%

Faster asset growth than 1% of similar nonprofits.

$25M-$50M nonprofits • Annualized from 2011 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$0

Down $57,293 (-100%) from 2013

Liabilities

Down

$0

Down $27,415 (-100%) from 2013

Net Assets

Down

$0

Down $29,878 (-100%) from 2013

Revenue

Down

$33,206

Down $11,723,524 (-100%) from 2013

Expenses

Down

$0

Down $1,867,569 (-100%) from 2013

Net Income

Down

$33,206

Down $9,855,955 (-100%) from 2013

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $30,591,389Liabilities 2010: $17,300,905Net Assets 2010: $13,290,4842010Assets 2011: $35,318,275Liabilities 2011: $17,416,966Net Assets 2011: $17,901,3092011Assets 2012: $38,341,866Liabilities 2012: $16,814,378Net Assets 2012: $21,527,4882012Assets 2013: $57,293Liabilities 2013: $27,415Net Assets 2013: $29,8782013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0Expenses 2010: $4,523,8552010Expenses 2011: $4,137,3532011Expenses 2012: $4,089,9942012Revenue 2013: $11,756,730Expenses 2013: $1,867,569Net Income 2013: $9,889,1612013Revenue 2014: $33,206Expenses 2014: $0Net Income 2014: $33,2062014

Highlighted filing

2014

Revenue$33,206
Expenses$0
Net Income$33,206

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 17, 2015
Return Version
2014v5.0
Gross Receipts
$33,206
Mission and Program Overview

Mission

Title Holding Corporation For Real Property

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$57,293$0▼ $57,293
Cap Stk Tr Prin Current Funds$41,862--
Cash and Non-Interest-Bearing Accounts-$0-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Rtn Earn Endowment Incm Other Fnds$-11,984--
Total Assets$57,293$0▼ $57,293
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$27,415--
Total Liabilities$27,415$0▼ $27,415
Net Assets / Fund Balance
Total Net Assets Fund Balance$29,878$0▼ $29,878
Total Liabilities and Net Assets / Fund Balance$57,293$0▼ $57,293
Compensation and Service Providers

Board Members and Trustees

NameTitle
See Supplemental InformationSee Supplementa
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$33,206
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$33,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

All management duties and management decision making of the taxpayer is delegated to Rreef America, LLC and Rreef Management, LLC pursuant to the terms of certain management agreements.

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

Taxpayer is organized as a nonprofit corporation under the laws of the state of Delaware. Each stockholder of the taxpayer shall at all times be either (1) a qualified pension, profit-sharing or stock bonus plan that meets the requirements of Section 401(a) of the IRC; (2) a governmental plan (within the meaning of Section 414(d) of the Code); (3) the United States, any State or political subdivision thereof, or any agency or instrumentality of the foregoing; or (4) any organization described in Section 501(c)(3) of the Code. Taxpayer has only one class of stock and such class is entitled to vote or execute consents either in person or by agent or agents authorized by written proxy. Such class of stockholder is entitled to distributions of profits or a share of the net assets upon dissolution

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 is reviewed annually prior to filing by an officer of the management company engaged by the taxpayer to manage the operations of the taxpayer. The return is then signed by a member of the taxpayer's governing body

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All employees of Rreef Management, LLC, which includes the members of the taxpayer's governing body, are required to at least annually disclose and certify via an electronic reporting system that they have: received, read and understand all of the conflict of interest and other related policies and that understand and agree to conform with such policies.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The corporate bylaws of the taxpayer provide that no officers of the taxpayer shall receive any compensation. All voting members of the governing body are independent as detailed in Part VI, Section A, lines 1a and 1b above. The governing body insures that this policy and corporate bylaw is enforced and none of its members nor any officer or employee of the taxpayer receives any compensation from the taxpayer.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
SFERS Real Estate Corp EE
EIN
11-3651182
Phone
4157813300
Address
101 California St 26th Floor, San Francisco, CA 94111

Signing Officer

Name
Aimee Samford
Title
CFO
Signed
2015-06-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aimee Samford
Formed
2002
Legal Domicile
De
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Comyns Smith McCleary & Deaver LLP
Address
3470 Mt Diablo Blvd A110, Lafayette, CA 94549
Preparer
Andrew M Porter
Phone
9252991040
Supplemental Narrative

Additional Explanations

Client Note 1

Client Note 1 - Form 990Part VII, Section AAs provided in the corporate bylaws of the taxpayer, all officers and directors of the taxpayer serve as such without compensation and, as a result, the taxpayer is precluded from paying any compensation to any of the following officers/directors.OFFICERS AND DIRECTORSDIRECTOR Timothy E. EllsworthOFFICERSPresident Timothy E. EllsworthVice President John Casasante Adolfo Diaz Marc L. Feliciano Stephen J. George W. Todd Henderson Jeffrey C. Kahl James E. Toney Anne-Marie VandenbergVice President & Treasurer Aimee E. SamfordVice President& AssistantTreasurer Margaret A. FlanaganSecretary Portia Guerin

Client Note 2

Client Note 2 - Note ASchedule N, Part IIThe taxpayer sold its only asset on May 29, 2013, paid off the debts secured by the asset and distributed the remaining proceeds therefrom in anticipation of liquidation. Taxpayer completed winding up of activities in 2015 and distributed the remainder of such proceeds in completion of its liquidation.

Other Changes In Net Assets Or Fund Balances - Other Increases

Contributions - CCSF I/C = $377

Other Changes In Net Assets Or Fund Balances - Other Decreases

Distribution of capital = -$42218

Other Changes In Net Assets Or Fund Balances - Other Decreases

Dist of Capital - CCSF I/C = -$20

Other Changes In Net Assets Or Fund Balances - Other Decreases

Distribution of earnings = -$21223

Financial Statement Notes

Part X : FIN48 Footnote

Taxpayer is included in a consolidated audit report with related entities (See Schedule R) and no liability for uncertain tax positions under FASB ASC 740 has been included. What follows is the text of the footnote included in such financial statements with respect to income taxes:Income Taxes - The Account has been classified as a qualified trust under Section 401(a) of the Internal Revenue Code of 1986 (the Code), and Management believes it continues to comply with the requirements of Section 501(a) of the Code. Accordingly, the Account is exempt from income taxes and no income tax provision is provided. If an uncertain tax position were to be identified, the Account would account for such in accordance with Accounting Standards Codification (ASC) Topic 740, Income Taxes. No uncertain positions were identified in the current and prior year.

Raw XML Appendix367 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/SupplementalInformationDetail/ExplanationTxt0Taxpayer is included in a consolidated audit report with related entities (See Schedule R) and no liability for uncertain tax positions under FASB ASC 740 has been included. What follows is the text of the footnote included in such financial statements with respect to income taxes:Income Taxes - The Account has been classified as a qualified trust under Section 401(a) of the Internal Revenue Code of 1986 (the Code), and Management believes it continues to comply with the requirements of Section 501(a) of the Code. Accordingly, the Account is exempt from income taxes and no income tax provision is provided. If an uncertain tax position were to be identified, the Account would account for such in accordance with Accounting Standards Codification (ASC) Topic 740, Income Taxes. No uncertain positions were identified in the current and prior year.
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt030 Van Ness Avenue Suite 300
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - Form 990Part VII, Section AAs provided in the corporate bylaws of the taxpayer, all officers and directors of the taxpayer serve as such without compensation and, as a result, the taxpayer is precluded from paying any compensation to any of the following officers/directors.OFFICERS AND DIRECTORSDIRECTOR Timothy E. EllsworthOFFICERSPresident Timothy E. EllsworthVice President John Casasante Adolfo Diaz Marc L. Feliciano Stephen J. George W. Todd Henderson Jeffrey C. Kahl James E. Toney Anne-Marie VandenbergVice President & Treasurer Aimee E. SamfordVice President& AssistantTreasurer Margaret A. FlanaganSecretary Portia Guerin
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Client Note 2 - Note ASchedule N, Part IIThe taxpayer sold its only asset on May 29, 2013, paid off the debts secured by the asset and distributed the remaining proceeds therefrom in anticipation of liquidation. Taxpayer completed winding up of activities in 2015 and distributed the remainder of such proceeds in completion of its liquidation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All management duties and management decision making of the taxpayer is delegated to Rreef America, LLC and Rreef Management, LLC pursuant to the terms of certain management agreements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Taxpayer is organized as a nonprofit corporation under the laws of the state of Delaware. Each stockholder of the taxpayer shall at all times be either (1) a qualified pension, profit-sharing or stock bonus plan that meets the requirements of Section 401(a) of the IRC; (2) a governmental plan (within the meaning of Section 414(d) of the Code); (3) the United States, any State or political subdivision thereof, or any agency or instrumentality of the foregoing; or (4) any organization described in Section 501(c)(3) of the Code. Taxpayer has only one class of stock and such class is entitled to vote or execute consents either in person or by agent or agents authorized by written proxy. Such class of stockholder is entitled to distributions of profits or a share of the net assets upon dissolution
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is reviewed annually prior to filing by an officer of the management company engaged by the taxpayer to manage the operations of the taxpayer. The return is then signed by a member of the taxpayer's governing body
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All employees of Rreef Management, LLC, which includes the members of the taxpayer's governing body, are required to at least annually disclose and certify via an electronic reporting system that they have: received, read and understand all of the conflict of interest and other related policies and that understand and agree to conform with such policies.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The corporate bylaws of the taxpayer provide that no officers of the taxpayer shall receive any compensation. All voting members of the governing body are independent as detailed in Part VI, Section A, lines 1a and 1b above. The governing body insures that this policy and corporate bylaw is enforced and none of its members nor any officer or employee of the taxpayer receives any compensation from the taxpayer.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Contributions - CCSF I/C = $377
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Distribution of capital = -$42218
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Dist of Capital - CCSF I/C = -$20
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Distribution of earnings = -$21223
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Client Note 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Other Changes In Net Assets Or Fund Balances - Other Decreases
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ReturnHeader/BuildTS02016-04-25 22:37:26Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Aimee Samford
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ReturnHeader/BusinessOfficerGrp/SignatureDt02015-06-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SFERS Real Estate Corp EE
ReturnHeader/Filer/BusinessNameControlTxt0SFER
ReturnHeader/Filer/EIN0113651182
ReturnHeader/Filer/PhoneNum04157813300
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Comyns Smith McCleary & Deaver LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03470 Mt Diablo Blvd A110
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ReturnHeader/PreparerPersonGrp/PhoneNum09252991040
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Andrew M Porter
ReturnHeader/ReturnTs02015-06-24T16:13:01-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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