Civic Intelligence

Northsight Financial Office Park Inc

EIN 33-0924628 • 501(c)25 • Dallas, TX

Profile

NONE

2001 Ross Avenue Suite 3400Dallas, TX 75201

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2020

Net Margin

90th percentile

100%

Higher net margin than 90% of similar nonprofits.

501(c)25 • <$500k nonprofits • Source year 2020

Top Officer Pay

95th percentile

$0

Higher top officer pay than 95% of similar nonprofits.

501(c)25 • <$500k nonprofits • Source year 2020

Asset Growth

85th percentile

-100%

Faster asset growth than 85% of similar nonprofits.

501(c)25 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Assets

Down

$0

Down $210,975 (-100%) from 2019

Liabilities

Down

$0

Down $115,888 (-100%) from 2019

Net Assets

Down

$0

Down $95,087 (-100%) from 2019

Revenue

Up

-$84,902

Up $3,514,697 (+98%) from 2019

Expenses

Down

$0

Down $78,756 (-100%) from 2019

Net Income

Up

-$84,902

Up $3,593,453 (+98%) from 2019

Trend Graphs

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2019: $210,975Liabilities 2019: $115,888Net Assets 2019: $95,0872019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$1.0M$0-$1.0M-$2.0M-$3.0M-$4.0MRevenue 2019: -$3,599,599Expenses 2019: $78,756Net Income 2019: -$3,678,3552019Revenue 2020: -$84,902Expenses 2020: $0Net Income 2020: -$84,9022020

Highlighted filing

2020

Revenue-$84,902
Expenses$0
Net Income-$84,902

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to May 15, 2020
Signed
Jul 24, 2020
Return Version
2019v5.1
Gross Receipts
$0
Mission and Program Overview

Mission

NONE

Within the meaning of irc section 501(c)(25) and hold title to real property on behalf of employees' retirement system of the state of hi

Balance Sheet Detail
LineBeginningEndChange
Assets
Pd in Cap Srpls Land Bldg Eqp Fund$21,053,038$21,070,526▲ $17,488
Savings and Temporary Cash Investments$121,928$0▼ $121,928
Accounts Receivable$79,550$0▼ $79,550
Prepaid Expenses and Deferred Charges$33$0▼ $33
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
Land, Buildings, and Equipment, Net$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→ $0
Rtn Earn Endowment Incm Other Fnds$-20,957,951$-21,070,526▼ $112,575
Total Assets$210,975$0▼ $210,975
Other Assets Total$9,464$0▼ $9,464
Liabilities
Accounts Payable and Accrued Expenses$110,020$0▼ $110,020
Deferred Revenue$5,699$0▼ $5,699
Other Liabilities$169$0▼ $169
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$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$115,888$0▼ $115,888
Net Assets / Fund Balance
Total Net Assets Fund Balance$95,087$0▼ $95,087
Total Liabilities and Net Assets / Fund Balance$210,975$0▼ $210,975
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael KirbyPresident
Beth ZayicekDirector
R Scott DennisDirector
Tracy GreenTreasurer/asst Sec
Cain KirkVP/asst Sec
Jackson LapinVP/asst Sec
Jeff CavanaughVP/asst Sec
Lee PhegleyVP/asst Sec
Paul MichaelsVP/asst Sec
Perry ChudnoffVP/asst Sec
Peter FeinbergVP/asst Sec
Sam GillespieVP/asst Sec
Duncan WalkerVP/asst. Sec
Kevin PirozzoliVP/asst. Sec
Tom HurstVP/asst. Sec
Jason W GreerVP/sec

Highest Paid Contractors

ContractorServicesLocationCompensation
See Schedule O--$473,187
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-84,902
Change in Net Assets
$-84,902
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
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
No
Backup withholding compliance
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
Yes
Management duties delegated
Yes

Governance Explanations

PART VI: GOVERNANCE, MANAGEMENT, AND DISCLOSURE

Line 2 all officers and directors of the filing organization have a business relationship with one another by virtue of their positions as officers, directors, and/or key employees of invesco advisers, inc.

PART VI: GOVERNANCE, MANAGEMENT, AND DISCLOSURE

LINES 3, 6, 7A, 7B, 11B, 19 Northsight Financial Office Park Inc.'s stock is owned 100% by the Employees' Retirement System of the State of Hawaii. The Employees' Retirement System of the State of Hawaii has engaged Invesco Real Estate, an independent management company, to manage all aspects of the entity including preparing the financial statements and tax returns. The Employees' Retirement System of the State of Hawaii has the ability to hire and fire the management company at any time, and the Employees' Retirement System of the State of Hawaii is ultimately responsible for all decisions. Invesco personnel hold the officer positions, but the Employees' Retirement System of the State of Hawaii has the ability to remove/change officers at any time. Invesco engages a paid preparer to prepare the tax return based on financial statements provided by Invesco. Once the return is prepared, it is sent to Invesco for review by the accountant assigned to the entity and the officer signing the return. Organization documents and financial statements related to the entity are not made available to the public.

PART VI: GOVERNANCE, MANAGEMENT, AND DISCLOSURE

Line 8b northsight financial office park inc. Does not have any committee with authority to act on behalf of the governing body. As such, no committee meeting minutes or other documentation have been required.

PART VII: SECTION B. INDEPENDENT CONTRACTORS

LINE 1 CBRE INC Property Management $104,991 PO Box 848844 Services Los Angeles, CA 90084-8844 Neo Construction Inc Construction $265,855 4205 North 7th Ave #301 Phoenix, AZ 85013 CUSHMAN AND WAKEFIELD Lease Commissions $102,340 2555 E CAMELBACK ROAD STE 400, PHOENIX, AZ 85016

Filing and Contact Details

Filer

Filer Name
Northsight Financial Office Park Inc
EIN
33-0924628
In Care Of
% INVESCO ADVISERS INC
Phone
9727157400
Address
2001 Ross Avenue Suite 3400, DALLAS, TX 75201

Signing Officer

Name
Tracy Green
Title
Assistant Secretary
Signed
2020-07-24

Organization Details

Principal Officer
Tracy Green
Formed
2000
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Kpmg Llp
Address
2323 Ross Avenue Suite 1400, Dallas, TX 75201-2709
Preparer
Amy Koronka
Phone
2148402000
Supplemental Narrative

Additional Explanations

PART XI: RECONCILIATION OF NET ASSETS

Line 9 - other changes in fund balance include: additional paid-in capital 17,488 distributions to shareholder (27,673) ----------- (10,185)

Financial Statement Notes

Supplemental Information 1

Schedule d, part x, line 2: fin 48 footnote no provision for federal or state income taxes has been made in the accompanying combined consolidated financial statements because the employees' retirement system of the state of hawaii real estate investment account [the account]'s llcs and corporations are exempt from income taxes under applicable sections of the internal revenue code and the state codes and the partnerships' investors are responsible for reporting their allocable share of the partnership's income or loss on their individual tax returns. In accordance with authoritative guidance on accounting for uncertainty in income taxes, the account has determined that no material unrecognized tax benefits or liabilities exist as of june 30, 2020 and 2019. If applicable, the account will recognize interest and penalties related to underpayment of income taxes as income tax expense. As of june 30, 2020 and 2019, the account had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. As of june 30, 2020, returns for the tax years 2017 through 2019 generally remain subject to examination by u.s. And various state and local tax jurisdictions.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHEDULE D, PART X, LINE 2: FIN 48 FOOTNOTE NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING COMBINED CONSOLIDATED FINANCIAL STATEMENTS BECAUSE THE EMPLOYEES' RETIREMENT SYSTEM OF THE STATE OF HAWAII REAL ESTATE INVESTMENT ACCOUNT [THE ACCOUNT]'S LLCS AND CORPORATIONS ARE EXEMPT FROM INCOME TAXES UNDER APPLICABLE SECTIONS OF THE INTERNAL REVENUE CODE AND THE STATE CODES AND THE PARTNERSHIPS' INVESTORS ARE RESPONSIBLE FOR REPORTING THEIR ALLOCABLE SHARE OF THE PARTNERSHIP'S INCOME OR LOSS ON THEIR INDIVIDUAL TAX RETURNS. IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE ACCOUNT HAS DETERMINED THAT NO MATERIAL UNRECOGNIZED TAX BENEFITS OR LIABILITIES EXIST AS OF JUNE 30, 2020 AND 2019. IF APPLICABLE, THE ACCOUNT WILL RECOGNIZE INTEREST AND PENALTIES RELATED TO UNDERPAYMENT OF INCOME TAXES AS INCOME TAX EXPENSE. AS OF JUNE 30, 2020 AND 2019, THE ACCOUNT HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. AS OF JUNE 30, 2020, RETURNS FOR THE TAX YEARS 2017 THROUGH 2019 GENERALLY REMAIN SUBJECT TO EXAMINATION BY U.S. AND VARIOUS STATE AND LOCAL TAX JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SUPPLEMENTAL INFORMATION 1
IRS990ScheduleD/TotalLiabilityAmt00
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IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Cash Distribution to Shareholder
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0996011493
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IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0401(A)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0CASH
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0Employees Retirement System of Hawa
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0201 Merchant Street Ste 1400
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0Honolulu
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0HI
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd096813
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH ITS OPERATION AS A TITLE HOLDING COMPANY DESCRIBED IN IRC SECTION 501(C)(25), Northsight Financial Office Park, Inc, MADE CASH DISTRIBUTIONS TO ITS PARENT ENTITY, EMPLOYEES' RETIREMENT SYSTEM OF HAWAII. THE DISTRIBUTIONS TO EMPLOYEES' RETIREMENT SYSTEM OF HAWAII ARE REPORTED ON SCHEDULE N, PART II.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N, PART II
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 2 ALL OFFICERS AND DIRECTORS OF THE FILING ORGANIZATION HAVE A BUSINESS RELATIONSHIP WITH ONE ANOTHER BY VIRTUE OF THEIR POSITIONS AS OFFICERS, DIRECTORS, AND/OR KEY EMPLOYEES OF INVESCO ADVISERS, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINES 3, 6, 7A, 7B, 11B, 19 Northsight Financial Office Park Inc.'s stock is owned 100% by the Employees' Retirement System of the State of Hawaii. The Employees' Retirement System of the State of Hawaii has engaged Invesco Real Estate, an independent management company, to manage all aspects of the entity including preparing the financial statements and tax returns. The Employees' Retirement System of the State of Hawaii has the ability to hire and fire the management company at any time, and the Employees' Retirement System of the State of Hawaii is ultimately responsible for all decisions. Invesco personnel hold the officer positions, but the Employees' Retirement System of the State of Hawaii has the ability to remove/change officers at any time. Invesco engages a paid preparer to prepare the tax return based on financial statements provided by Invesco. Once the return is prepared, it is sent to Invesco for review by the accountant assigned to the entity and the officer signing the return. Organization documents and financial statements related to the entity are not made available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LINE 8B NORTHSIGHT FINANCIAL OFFICE PARK INC. DOES NOT HAVE ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. AS SUCH, NO COMMITTEE MEETING MINUTES OR OTHER DOCUMENTATION HAVE BEEN REQUIRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LINE 1 CBRE INC Property Management $104,991 PO Box 848844 Services Los Angeles, CA 90084-8844 Neo Construction Inc Construction $265,855 4205 North 7th Ave #301 Phoenix, AZ 85013 CUSHMAN AND WAKEFIELD Lease Commissions $102,340 2555 E CAMELBACK ROAD STE 400, PHOENIX, AZ 85016
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LINE 9 - OTHER CHANGES IN FUND BALANCE INCLUDE: ADDITIONAL PAID-IN CAPITAL 17,488 DISTRIBUTIONS TO SHAREHOLDER (27,673) ----------- (10,185)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI: GOVERNANCE, MANAGEMENT, AND DISCLOSURE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI: GOVERNANCE, MANAGEMENT, AND DISCLOSURE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI: GOVERNANCE, MANAGEMENT, AND DISCLOSURE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VII: SECTION B. INDEPENDENT CONTRACTORS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XI: RECONCILIATION OF NET ASSETS
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