Civic Intelligence

Np Waterfront Place LLC C/O Aew Capital Management LP

990 • Fiscal year 2021 • EIN 20-5032900

Jan 01, 2021 to Dec 31, 2021 • Filed on May 09, 2022

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

20th percentile

0.01x

Higher debt load relative to assets than 20% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

28th percentile

0.11x

Higher debt load relative to revenue than 28% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Source year 2021

Net Margin

90th percentile

63%

Higher net margin than 90% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2021 filings • $100M-$250M nonprofits • Source year 2021

Asset Growth

22nd percentile

2.1%

Faster asset growth than 22% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

45th percentile

7.6%

Faster revenue growth than 45% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$107,421,020

Up $2,221,826 (+2.1%) from 2020

Net Assets

Up

$106,502,776

Up $2,025,828 (+1.9%) from 2020

Liabilities

Up

$918,244

Up $195,998 (+27%) from 2020

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin90th percentile

Revenue

Up

$8,466,354

Up $597,071 (+7.6%) from 2020

Expenses

Up

$3,114,637

Up $100,349 (+3.3%) from 2020

Net Income

Up

$5,351,717

Up $496,722 (+10%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$150M$100M$50M$0Assets 2014: $74,231,403Liabilities 2014: $8,617,599Net Assets 2014: $65,613,8042014Assets 2015: $76,780,300Liabilities 2015: $4,301,074Net Assets 2015: $72,479,2262015Assets 2016: $79,225,748Liabilities 2016: $993,094Net Assets 2016: $78,232,6542016Assets 2018: $94,352,858Liabilities 2018: $856,098Net Assets 2018: $93,496,7602018Assets 2019: $102,355,481Liabilities 2019: $622,291Net Assets 2019: $101,733,1902019Assets 2020: $105,199,194Liabilities 2020: $722,246Net Assets 2020: $104,476,9482020Assets 2021: $107,421,020Liabilities 2021: $918,244Net Assets 2021: $106,502,7762021

Highlighted filing

2021

Assets$107,421,020
Liabilities$918,244
Net Assets$106,502,776
Open 2021 Filing

Operations Trend

Revenue Growth45th percentile

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

$10M$5.0M$0Revenue 2014: $5,622,845Expenses 2014: $2,165,900Net Income 2014: $3,456,9452014Revenue 2015: $5,303,275Expenses 2015: $2,150,120Net Income 2015: $3,153,1552015Revenue 2016: $5,847,464Expenses 2016: $2,309,620Net Income 2016: $3,537,8442016Revenue 2018: $6,592,364Expenses 2018: $2,480,847Net Income 2018: $4,111,5172018Revenue 2019: $7,421,832Expenses 2019: $2,598,566Net Income 2019: $4,823,2662019Revenue 2020: $7,869,283Expenses 2020: $3,014,288Net Income 2020: $4,854,9952020Revenue 2021: $8,466,354Expenses 2021: $3,114,637Net Income 2021: $5,351,7172021

Highlighted filing

2021

Revenue$8,466,354
Expenses$3,114,637
Net Income$5,351,717
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 9, 2022
Return Version
2021v4.2
Gross Receipts
$8,466,354
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
Land, Buildings, and Equipment, Net$101,999,999$105,100,000▲ $3,100,001
Pd in Cap Srpls Land Bldg Eqp Fund$67,504,877$67,994,213▲ $489,336
Rtn Earn Endowment Incm Other Fnds$36,972,071$38,508,563▲ $1,536,492
Savings and Temporary Cash Investments$3,076,512$2,012,342▼ $1,064,170
Prepaid Expenses and Deferred Charges$100,603$285,495▲ $184,892
Accounts Receivable$22,080$23,183▲ $1,103
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
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$105,199,194$107,421,020▲ $2,221,826
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$300,414$496,180▲ $195,766
Other Liabilities$421,832$422,064▲ $232
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$722,246$918,244▲ $195,998
Net Assets / Fund Balance
Total Net Assets Fund Balance$104,476,948$106,502,776▲ $2,025,828
Total Liabilities and Net Assets / Fund Balance$105,199,194$107,421,020▲ $2,221,826

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$72,961,872--
Other Land Buildings$4,134,843--
Land$16,125,000--
Leasehold Improvements$11,878,285--
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
See Attached StatementOfficer

Highest Paid Contractors

ContractorServicesLocationCompensation
Bayley Construction LPConstruction8005 SE 28th ST, Mercer Island, WA 98040-2904$1,734,234
Jsh PropertiesReal Estate7325 166th Ave NE, Redmond, WA 98052$296,198
Pacific Building Services INCConstruction11110 Northup Way, Bellevue, WA 98004$187,519
Allied Universal SecuritySecurity801 S Fidalgo St 2nd floor, Seattle, WA 98108$151,075
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,701,715
Investment Income
$378
Other Revenue
$764,261
Change in Net Assets
$5,351,717
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,011,222
Salaries, Compensation, and Employee Benefits$103,415
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$653,487--$653,487
Office Expenses$531,151--$531,151
Other Expenses$500,004--$500,004
All Other Expenses$229,873--$229,873
Other Salaries and Wages$103,415--$103,415
Fees for Services Accounting$14,263--$14,263
Fees for Services Other$10,987--$10,987
Insurance$1,253--$1,253
Total Functional Expenses$3,114,637$0$0$3,114,637
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$403,382
Other Liabilities$18,682
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 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”

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.”

Filing and Contact Details

Filer

Filer Name
Np Waterfront Place LLC
EIN
20-5032900
In Care Of
% AEW CAPITAL MANAGEMENT LP
Phone
6172619000
Address
TWO SEAPORT LANE, BOSTON, MA 02210-2021

Signing Officer

Name
Susan Bouchard
Title
Vice President
Phone
6172619000
Signed
2022-05-09
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
Amanda Hines
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“description Amount contributions 489,336 distributions (4,563,000) _____________ Total (4,073,664)”

FORM 990, PART XII, LINE 2C:

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

Raw XML AppendixShowing 400 of 430 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/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07701715
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IRS990/PYOtherRevenueAmt0712184
IRS990/PYProgramServiceRevenueAmt07154827
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IRS990/PYSalariesCompEmpBnftPaidAmt0102490
IRS990/PYTotalExpensesAmt03014288
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07869283
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt05351717
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt038508563
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IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/LandGrp/BookValueAmt016125000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt016125000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt011878285
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt011878285
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04134843
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt04134843
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0403382
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118682
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0105100000
IRS990ScheduleD/TotalLiabilityAmt0422064
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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.
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 contributions 489,336 distributions (4,563,000) _____________ Total (4,073,664)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE 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/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:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION A, LINE 7A:
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SEE ATTACHMENT
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt04563000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1489336
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Public Employees Retirement System of Nevada
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Public Employees Retirement System of Nevada
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IRS990/TotalAssetsEOYAmt0107421020
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IRS990/TotalAssetsGrp/EOYAmt0107421020
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IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt03114637
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0722246
IRS990/TotalLiabilitiesEOYAmt0918244
IRS990/TotalLiabilitiesGrp/BOYAmt0722246
IRS990/TotalLiabilitiesGrp/EOYAmt0918244
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0106502776
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08466354
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0105199194
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0107421020
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IRS990/USAddress/AddressLine1Txt0TWO SEAPORT LANE
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd0022102021
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$107,421,020
Liabilities
$918,244
Net assets
$106,502,776
Revenue
$8,466,354
Expenses
$3,114,637
Net income
$5,351,717
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$107$0.92$107$8.47$3.11$5.35
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$0.72$104$7.87$3.01$4.85
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$102$0.62$102$7.42$2.60$4.82
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.4$0.86$93.5$6.59$2.48$4.11
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.2$0.99$78.2$5.85$2.31$3.54
2015Detailed filing. Detailed filing data is available for this year.$76.8$4.30$72.5$5.30$2.15$3.15
2014Detailed filing. Detailed filing data is available for this year.$74.2$8.62$65.6$5.62$2.17$3.46