Civic Intelligence

Np 500 Milwaukee LLC C/O Aew Capital Management LP

990 • Fiscal year 2019 • EIN 20-4569897

Jan 01, 2019 to Dec 31, 2019 • Filed on May 13, 2020

Organization ProfileN/A
Two Seaport LaneBoston, MA 02210-2021

(617) 261-9000

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.01x

Higher debt load relative to assets than 22% of similar nonprofits.

2019 filings • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

32nd percentile

0.09x

Higher debt load relative to revenue than 32% of similar nonprofits.

2019 filings • $25M-$50M nonprofits • Source year 2019

Net Margin

93rd percentile

68%

Higher net margin than 93% of similar nonprofits.

2019 filings • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

16th percentile

$0

Higher top officer pay than 16% of similar nonprofits.

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

2019 filings • $25M-$50M nonprofits • Source year 2019

Asset Growth

83rd percentile

19%

Faster asset growth than 83% of similar nonprofits.

2019 filings • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

64th percentile

8.6%

Faster revenue growth than 64% of similar nonprofits.

2019 filings • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$41,137,628

Up $6,700,797 (+19%) from 2018

Net Assets

Up

$40,930,814

Up $6,699,803 (+20%) from 2018

Liabilities

Up

$206,814

Up $994 (+0.5%) from 2018

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin93rd percentile

Revenue

Up

$2,287,733

Up $181,132 (+8.6%) from 2018

Expenses

Up

$724,219

Up $10,165 (+1.4%) from 2018

Net Income

Up

$1,563,514

Up $170,967 (+12%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$80M$60M$40M$20M$0Assets 2013: $22,248,302Liabilities 2013: $142,620Net Assets 2013: $22,105,6822013Assets 2014: $23,354,838Liabilities 2014: $154,595Net Assets 2014: $23,200,2432014Assets 2015: $25,432,338Liabilities 2015: $191,532Net Assets 2015: $25,240,8062015Assets 2016: $27,358,532Liabilities 2016: $163,706Net Assets 2016: $27,194,8262016Assets 2017: $32,236,712Liabilities 2017: $159,885Net Assets 2017: $32,076,8272017Assets 2018: $34,436,831Liabilities 2018: $205,820Net Assets 2018: $34,231,0112018Assets 2019: $41,137,628Liabilities 2019: $206,814Net Assets 2019: $40,930,8142019Assets 2020: $45,768,416Liabilities 2020: $459,240Net Assets 2020: $45,309,1762020Assets 2021: $60,893,309Liabilities 2021: $326,647Net Assets 2021: $60,566,6622021Assets 2022: $22,213,271Liabilities 2022: $249,707Net Assets 2022: $21,963,5642022Assets 2023: $22,089,365Liabilities 2023: $254,922Net Assets 2023: $21,834,4432023Assets 2024: $23,119,130Liabilities 2024: $240,063Net Assets 2024: $22,879,0672024

Highlighted filing

2019

Assets$41,137,628
Liabilities$206,814
Net Assets$40,930,814
Open 2019 Filing

Operations Trend

Revenue Growth64th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2013: $1,539,269Expenses 2013: $494,260Net Income 2013: $1,045,0092013Revenue 2014: $1,688,960Expenses 2014: $507,233Net Income 2014: $1,181,7272014Revenue 2015: $1,570,063Expenses 2015: $518,366Net Income 2015: $1,051,6972015Revenue 2016: $1,813,431Expenses 2016: $526,666Net Income 2016: $1,286,7652016Revenue 2017: $1,912,824Expenses 2017: $590,564Net Income 2017: $1,322,2602017Revenue 2018: $2,106,601Expenses 2018: $714,054Net Income 2018: $1,392,5472018Revenue 2019: $2,287,733Expenses 2019: $724,219Net Income 2019: $1,563,5142019Revenue 2020: $2,921,143Expenses 2020: $880,015Net Income 2020: $2,041,1282020Revenue 2021: $2,129,130Expenses 2021: $954,400Net Income 2021: $1,174,7302021Revenue 2022: $3,038,650Expenses 2022: $1,080,053Net Income 2022: $1,958,5972022Revenue 2023: $3,335,692Expenses 2023: $1,093,825Net Income 2023: $2,241,8672023Revenue 2024: $3,640,723Expenses 2024: $1,243,286Net Income 2024: $2,397,4372024

Highlighted filing

2019

Revenue$2,287,733
Expenses$724,219
Net Income$1,563,514
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 13, 2020
Return Version
2019v5.1
Gross Receipts
$2,287,733
Mission and Program Overview

Mission

The company was organized for the exclusive purpose of acquiring and holding title to real property, collecting the income therefrom, and turning over the entire amount thereof, less expenses, to its shareholders, which are exempt from tax under irc sec.401(a).

Title holding company for real property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$14,412,243$20,936,705▲ $6,524,462
Land, Buildings, and Equipment, Net$20,321,822$20,336,276▲ $14,454
Pd in Cap Srpls Land Bldg Eqp Fund$19,818,768$19,994,109▲ $175,341
Savings and Temporary Cash Investments$30,256$31,764▲ $1,508
Prepaid Expenses and Deferred Charges$6,576$5,865▼ $711
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$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
Cap Stk Tr Prin Current Funds$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$34,436,831$41,137,628▲ $6,700,797
Other Assets Total$14,078,177$20,763,723▲ $6,685,546
Liabilities
Other Liabilities$109,847$116,538▲ $6,691
Accounts Payable and Accrued Expenses$95,973$90,276▼ $5,697
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$205,820$206,814▲ $994
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,231,011$40,930,814▲ $6,699,803
Total Liabilities and Net Assets / Fund Balance$34,436,831$41,137,628▲ $6,700,797

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,653,725--
Other Land Buildings$899,263--
Land$4,783,288--
Other Assets Org$20,763,723--
Compensation and Service Providers
Top Officer Pay16th percentile

Board Members and Trustees

NameTitle
See Attached ScheduleOfficer

Highest Paid Contractors

ContractorServicesLocationCompensation
Aew Capital Management LPManagementTWO SEAPORT LANE, Boston, MA 02210$179,383
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,270,941
Investment Income
$4,530
Other Revenue
$12,262
Change in Net Assets
$1,563,514
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$715,716
Salaries, Compensation, and Employee Benefits$8,503
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$247,503--$247,503
Insurance$22,866--$22,866
Other Salaries and Wages$8,503--$8,503
Fees for Services Accounting$5,871--$5,871
All Other Expenses$5,517--$5,517
Office Expenses$4,475--$4,475
Other Expenses$656--$656
Total Functional Expenses$724,219$0$0$724,219
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
Tenant Security Deposits$109,847
Prepaid Rent$6,691
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
Yes
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:

“Sole shareholder of the organization is the public employees retirement system of nevada. The organization is included in the audited financial statements of its sole shareholder. 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 to the public on their website: www.nvpers.org”

Filing and Contact Details

Filer

Filer Name
Np 500 Milwaukee LLC
EIN
20-4569897
In Care Of
% AEW CAPITAL MANAGEMENT LP
Phone
6172619000
Address
TWO SEAPORT LANE, BOSTON, MA 02210-2021

Signing Officer

Name
Susan Bouchard
Title
VP
Phone
6172619000
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Bouchard
Formed
2006
Legal Domicile
De
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

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

Additional Explanations

FORM 990, PART XI, LINE 9:

“description AMOUNT DISTRIBUTIONS (1,724,600) CONTRIBUTIONS 175,341 _____________ Total (1,549,259)”

FORM 990, PART XII, LINE 2C:

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

Raw XML AppendixShowing 400 of 410 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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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/ExplanationTxt1SOLE SHAREHOLDER OF THE ORGANIZATION IS THE PUBLIC EMPLOYEES RETIREMENT SYSTEM OF NEVADA. THE ORGANIZATION IS INCLUDED IN THE AUDITED FINANCIAL STATEMENTS OF ITS SOLE SHAREHOLDER. 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 TO THE PUBLIC ON THEIR WEBSITE: WWW.NVPERS.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5description AMOUNT DISTRIBUTIONS (1,724,600) CONTRIBUTIONS 175,341 _____________ Total (1,549,259)
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/TransactionsRelatedOrgGrp/InvolvedAmt1175341
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,137,628
Liabilities
$206,814
Net assets
$40,930,814
Revenue
$2,287,733
Expenses
$724,219
Net income
$1,563,514
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.1$0.24$22.9$3.64$1.24$2.40
2023Detailed filing. Detailed filing data is available for this year.$22.1$0.25$21.8$3.34$1.09$2.24
2022Detailed filing. Detailed filing data is available for this year.$22.2$0.25$22.0$3.04$1.08$1.96
2021Detailed filing. Detailed filing data is available for this year.$60.9$0.33$60.6$2.13$0.95$1.17
2020Detailed filing. Detailed filing data is available for this year.$45.8$0.46$45.3$2.92$0.88$2.04
2019Detailed filing. Detailed filing data is available for this year.$41.1$0.21$40.9$2.29$0.72$1.56
2018Detailed filing. Detailed filing data is available for this year.$34.4$0.21$34.2$2.11$0.71$1.39
2017Detailed filing. Detailed filing data is available for this year.$32.2$0.16$32.1$1.91$0.59$1.32
2016Detailed filing. Detailed filing data is available for this year.$27.4$0.16$27.2$1.81$0.53$1.29
2015Detailed filing. Detailed filing data is available for this year.$25.4$0.19$25.2$1.57$0.52$1.05
2014Detailed filing. Detailed filing data is available for this year.$23.4$0.15$23.2$1.69$0.51$1.18
2013Detailed filing. Detailed filing data is available for this year.$22.2$0.14$22.1$1.54$0.49$1.05