Civic Intelligence

Tc Village Inc

EIN 20-5213031 • 501(c)25 • Boston, MA

Profile

Hold title to real estate investments of a public employee retirement plan and collect and distribute income from these investments to the employee retirement plan.

Two Seaport LaneBoston, MA 02210-2021

n/A

Siviq Scores

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

Liabilities / Assets

78th percentile

0.50x

Higher debt load relative to assets than 78% of similar nonprofits.

$25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

4.54x

Higher debt load relative to revenue than 93% of similar nonprofits.

$25M-$50M nonprofits • Source year 2022

Net Margin

89th percentile

58%

Higher net margin than 89% of similar nonprofits.

$25M-$50M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

4th percentile

-19%

Faster asset growth than 4% of similar nonprofits.

$25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

29th percentile

-1.4%

Faster revenue growth than 29% of similar nonprofits.

$25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$0

Down $49,029,251 (-100%) from 2022

Liabilities

Down

$0

Down $24,578,589 (-100%) from 2022

Net Assets

Down

$0

Down $24,450,662 (-100%) from 2022

Operations
Liabilities / Revenue93rd percentileNet Margin89th percentile

Revenue

Down

-$5,780,512

Down $11,195,512 (-207%) from 2022

Expenses

Down

$868,607

Down $1,405,286 (-62%) from 2022

Net Income

Down

-$6,649,119

Down $9,790,226 (-312%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth4th percentile

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

$80M$60M$40M$20M$0Assets 2010: $46,560,319Liabilities 2010: $24,644,722Net Assets 2010: $21,915,5972010Assets 2011: $48,103,084Liabilities 2011: $26,389,404Net Assets 2011: $21,713,6802011Assets 2012: $48,351,839Liabilities 2012: $26,829,879Net Assets 2012: $21,521,9602012Assets 2013: $49,242,062Liabilities 2013: $26,138,299Net Assets 2013: $23,103,7632013Assets 2014: $50,441,701Liabilities 2014: $25,835,930Net Assets 2014: $24,605,7712014Assets 2015: $57,697,783Liabilities 2015: $25,482,253Net Assets 2015: $32,215,5302015Assets 2016: $57,445,451Liabilities 2016: $23,168,329Net Assets 2016: $34,277,1222016Assets 2017: $58,673,784Liabilities 2017: $24,662,098Net Assets 2017: $34,011,6862017Assets 2018: $56,171,010Liabilities 2018: $23,758,497Net Assets 2018: $32,412,5132018Assets 2019: $60,668,285Liabilities 2019: $24,976,387Net Assets 2019: $35,691,8982019Assets 2020: $54,921,467Liabilities 2020: $26,146,237Net Assets 2020: $28,775,2302020Assets 2021: $60,825,925Liabilities 2021: $24,910,560Net Assets 2021: $35,915,3652021Assets 2022: $49,029,251Liabilities 2022: $24,578,589Net Assets 2022: $24,450,6622022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2023

Assets$0
Liabilities$0
Net Assets$0
Open 2023 Filing

Operations Trend

Revenue Growth29th percentile

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

$10M$5.0M$0-$5.0M-$10MRevenue 2010: $3,193,825Expenses 2010: $1,536,991Net Income 2010: $1,656,8342010Revenue 2011: $3,195,570Expenses 2011: $1,551,401Net Income 2011: $1,644,1692011Revenue 2012: $3,378,405Expenses 2012: $1,558,263Net Income 2012: $1,820,1422012Revenue 2013: $3,294,585Expenses 2013: $1,567,847Net Income 2013: $1,726,7382013Revenue 2014: $3,399,704Expenses 2014: $1,567,190Net Income 2014: $1,832,5142014Revenue 2015: $3,632,303Expenses 2015: $1,575,554Net Income 2015: $2,056,7492015Revenue 2016: $3,324,175Expenses 2016: $1,545,527Net Income 2016: $1,778,6482016Revenue 2017: $7,678,390Expenses 2017: $4,037,522Net Income 2017: $3,640,8682017Revenue 2018: $5,252,109Expenses 2018: $2,149,938Net Income 2018: $3,102,1712018Revenue 2019: $5,412,302Expenses 2019: $2,249,049Net Income 2019: $3,163,2532019Revenue 2020: $5,382,547Expenses 2020: $2,310,850Net Income 2020: $3,071,6972020Revenue 2021: $5,491,631Expenses 2021: $2,388,861Net Income 2021: $3,102,7702021Revenue 2022: $5,415,000Expenses 2022: $2,273,893Net Income 2022: $3,141,1072022Revenue 2023: -$5,780,512Expenses 2023: $868,607Net Income 2023: -$6,649,1192023

Highlighted filing

2023

Revenue-$5,780,512
Expenses$868,607
Net Income-$6,649,119
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
-$5,780,512
Expenses
$868,607
Net income
-$6,649,119
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$5.78$0.87$6.65
2022Detailed filing. Detailed filing data is available for this year.$49.0$24.6$24.5$5.42$2.27$3.14
2021Detailed filing. Detailed filing data is available for this year.$60.8$24.9$35.9$5.49$2.39$3.10
2020Detailed filing. Detailed filing data is available for this year.$54.9$26.1$28.8$5.38$2.31$3.07
2019Detailed filing. Detailed filing data is available for this year.$60.7$25.0$35.7$5.41$2.25$3.16
2018Detailed filing. Detailed filing data is available for this year.$56.2$23.8$32.4$5.25$2.15$3.10
2017Detailed filing. Detailed filing data is available for this year.$58.7$24.7$34.0$7.68$4.04$3.64
2016Detailed filing. Detailed filing data is available for this year.$57.4$23.2$34.3$3.32$1.55$1.78
2015Detailed filing. Detailed filing data is available for this year.$57.7$25.5$32.2$3.63$1.58$2.06
2014Detailed filing. Detailed filing data is available for this year.$50.4$25.8$24.6$3.40$1.57$1.83
2013Summary only. Only limited summary data is available for this year.$49.2$26.1$23.1$3.29$1.57$1.73
2012Summary only. Only limited summary data is available for this year.$48.4$26.8$21.5$3.38$1.56$1.82
2011Summary only. Only limited summary data is available for this year.$48.1$26.4$21.7$3.20$1.55$1.64
2010Summary only. Only limited summary data is available for this year.$46.6$24.6$21.9$3.19$1.54$1.66
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Mar 15, 2023
Return Version
2023v5.0
Gross Receipts
$47,665,793
Mission and Program Overview

Mission

Hold title to real estate investments of a public employee retirement plan and collect and distribute income from these investments to the employee retirement plan.

Hold title to real estate investments of a public employee retirement plan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$47,800,001$0▼ $47,800,001
Cap Stk Tr Prin Current Funds$23,713,714$23,713,714→ $0
Cash and Non-Interest-Bearing Accounts$1,081,524$0▼ $1,081,524
Accounts Receivable$125,321$0▼ $125,321
Prepaid Expenses and Deferred Charges$22,405$0▼ $22,405
Savings and Temporary Cash Investments$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
Rtn Earn Endowment Incm Other Fnds$736,948$-23,713,714▼ $24,450,662
Total Assets$49,029,251$0▼ $49,029,251
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$23,695,480$0▼ $23,695,480
Accounts Payable and Accrued Expenses$698,626$0▼ $698,626
Other Liabilities$102,606$0▼ $102,606
Deferred Revenue$81,877$0▼ $81,877
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$24,578,589$0▼ $24,578,589
Net Assets / Fund Balance
Total Net Assets Fund Balance$24,450,662$0▼ $24,450,662
Total Liabilities and Net Assets / Fund Balance$49,029,251$0▼ $49,029,251
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
See Attached StatementOfficer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,904,442
Investment Income
$-7,731,327
Other Revenue
$46,373
Change in Net Assets
$-6,649,119
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$868,607
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$331,500--$331,500
Fees for Services Management$68,993--$68,993
Insurance$41,499--$41,499
Other Expenses$28,348--$28,348
All Other Expenses$25,362--$25,362
Advertising$19,126--$19,126
Fees for Services Other$6,898--$6,898
Office Expenses$855--$855
Total Functional Expenses$868,607$0$0$868,607
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
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 city of los angeles fire and police pension plan. 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:

“All governing documents, conflict of interest, policies and financial statements are available for inspection at the address of the tax return upon written request.”

Filing and Contact Details

Filer

Filer Name
Tc Village Inc
EIN
20-5213031
In Care Of
% AEW CAPITAL MANAGEMENT LP
Phone
6172619000
Address
TWO SEAPORT LANE, BOSTON, MA 02210-2021

Signing Officer

Name
Mindy Fitzpatrick
Title
Vice President
Phone
6172619000
Signed
2023-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mindy Fitzpatrick
Formed
2007
Legal Domicile
De
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
PwC US Tax LLP
Address
101 SEAPORT BLVD SUITE 500, BOSTON, MA 02210
Preparer
Steven M Kennedy
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

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

FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:

“Description AMOUNT CONTRIBUTIONS NONE DISTRIBUTIONS (23,118,051) ____________ Total (23,118,051)”

Raw XML AppendixShowing 400 of 429 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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IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1REAL ESTATE
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IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12023-12-31
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IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt145714978
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IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1FMV
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0CITY OF LA FIRE AND POLICE PENSIO
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm1AVAILABLE UPON REQUEST
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0CITY OF LA FIRE AND POLICE PENSIO
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0260 EAST SECOND STREET SUITE 600
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0BOSTON
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MA
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IRS990ScheduleN/ReceiveCompensationInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DAY-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/ExplanationTxt2SOLE SHAREHOLDER OF THE ORGANIZATION IS THE CITY OF LOS ANGELES FIRE AND POLICE PENSION PLAN. THE ORGANIZATION IS INCLUDED IN THE AUDITED FINANCIAL STATEMENTS OF ITS SOLE SHAREHOLDER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/ExplanationTxt4THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Description AMOUNT CONTRIBUTIONS NONE DISTRIBUTIONS (23,118,051) ____________ Total (23,118,051)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 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/ExplanationTxt7ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AT THE ADDRESS OF THE TAX RETURN UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART VI, SECTION A, LINE 3:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 11:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19:
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SEE ATTACHMENT
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0CITY OF L.A. FIRE AND POLICE PENSION PLAN OWNS A SIGNIFICANT NUMBER OF INVESTMENTS. HOWEVER, DETAILS PROVIDED ON SCHEDULE R, PART II ONLY INCLUDES THE CONSOLIDATED AUDITED FINANCIAL INFORMATION. ADDITIONAL INFORMATION IS AVAILABLE UPON REQUEST.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE R, PART II:
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt023118051
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CITY OF LA FIRE AND POLICE PENSION PLAN
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0868607
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IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mindy Fitzpatrick

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