Civic Intelligence

Burke Town Center Inc

EIN 33-0938893 • 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

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

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

Liabilities / Revenue

48th percentile

0.19x

Higher debt load relative to revenue than 48% of similar nonprofits.

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

Net Margin

97th percentile

91%

Higher net margin than 97% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Assets

Down

$0

Down $42,684,452 (-100%) from 2019

Liabilities

Down

$0

Down $375,139 (-100%) from 2019

Net Assets

Down

$0

Down $42,309,313 (-100%) from 2019

Revenue

Up

$2,038,950

Up $63,794 (+3.2%) from 2019

Expenses

Down

$185,469

Down $990 (-0.5%) from 2019

Net Income

Up

$1,853,481

Up $64,784 (+3.6%) from 2019

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2019: $42,684,452Liabilities 2019: $375,139Net Assets 2019: $42,309,3132019Assets 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.

$3.0M$2.0M$1.0M$0Revenue 2019: $1,975,156Expenses 2019: $186,459Net Income 2019: $1,788,6972019Revenue 2020: $2,038,950Expenses 2020: $185,469Net Income 2020: $1,853,4812020

Highlighted filing

2020

Revenue$2,038,950
Expenses$185,469
Net Income$1,853,481

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.1
Gross Receipts
$2,820,675
Mission and Program Overview

Mission

NONE

To operate as a title holding corporation within the meaning of IRC section 501(c)(25)and hold title to real property on behalf of public employees' retirement system of Nevada.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,307,511$0▼ $22,307,511
Rtn Earn Endowment Incm Other Fnds$21,466,071$0▼ $21,466,071
Pd in Cap Srpls Land Bldg Eqp Fund$20,843,242$0▼ $20,843,242
Accounts Receivable$391,755$0▼ $391,755
Cash and Non-Interest-Bearing Accounts$182,967$0▼ $182,967
Prepaid Expenses and Deferred Charges$9,730$0▼ $9,730
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
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$42,684,452$0▼ $42,684,452
Other Assets Total$19,792,489$0▼ $19,792,489
Liabilities
Accounts Payable and Accrued Expenses$289,039$0▼ $289,039
Other Liabilities$79,237$0▼ $79,237
Deferred Revenue$6,863$0▼ $6,863
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$375,139$0▼ $375,139
Net Assets / Fund Balance
Total Net Assets Fund Balance$42,309,313$0▼ $42,309,313
Total Liabilities and Net Assets / Fund Balance$42,684,452$0▼ $42,684,452
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael KirbyPresident
Beth ZayicekDirector
R Scott DennisDirector
Haley WaldronTreasurer /ASST SEC
Bert J CrouchVP/asst Sec
Cain KirkVP/asst Sec
Chris CleghornVP/asst Sec
Duncan WalkerVP/asst Sec
Jackson LapinVP/asst Sec
Jeff CavanaughVP/asst Sec
Kevin PirozzoliVP/asst Sec
Perry ChudnoffVP/asst Sec
Peter FeinbergVP/asst Sec
R Lee Phegley JrVP/asst Sec
Tom HurstVP/asst Sec
Jason W GeerVP/sec

Highest Paid Contractors

ContractorServicesLocationCompensation
See Schedule O--$509,887
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,497
Other Revenue
$2,037,453
Change in Net Assets
$1,853,481
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$185,469
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
Fees for Services Management---$185,469
Total Functional Expenses$0$0$0$185,469
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
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
No
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

LINE 3, 6, 7a, 7b, 11B, 19 BURKE TOWN CENTER, INC.'S STOCK IS OWNED 100% BY PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA. PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA HAS ENGAGED INVESCO REAL ESTATE, AN INDEPENDENT MANAGEMENT COMPANY, TO MANAGE ALL ASPECTS OF THE ENTITY INCLUDING PREPARING THE FINANCIAL STATEMENTS AND TAX RETURNS. PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA HAS THE ABILITY TO HIRE AND FIRE THE MANAGEMENT COMPANY AT ANY TIME, AND PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA IS ULTIMATELY RESPONSIBLE FOR ALL DECISIONS. INVESCO PERSONNEL HOLD THE OFFICER POSITIONS, BUT PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA 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 REVEIW 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 BURKE TOWN CENTER, 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 INVESCO Advisers, Inc. Management Services $188,536 2001 Ross Avenue, Suite 3400, Dallas, TX 75201 BROTHERS PAVING & CONCRETE CORP Construction Services $129,776 9469 HAWKINS DR Manassas, VA 20109 PLEASANT VIEW LANSDCAPES LLC Landscaping $191,575 1701 PENNSYLVANIA AVE NW Washington DC 20006

Filing and Contact Details

Filer

Filer Name
Burke Town Center Inc
EIN
33-0938893
In Care Of
% INVESCO ADVISERS INC
Phone
9727157400
Address
2001 Ross Avenue Suite 3400, DALLAS, TX 75201

Signing Officer

Name
Lee Phegley
Title
Officer
Phone
9727157400
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Phegley
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 223,638 distributions to shareholder (1,810,638) ------------- (1,587,000)

PART XII: FINANCIAL STATEMENTS AND REPORTING

Line 2b an outside accounting firm performs an annual audit on the consolidated financial statements of the public employees' retirement system of nevada's (parent's) core real estate portolio. The consolidated financial statements include the financial information for burke town center, inc. (taxpayer). However, to accomodate the parent's financial statement audit, the consolidated financial statements of the real estate portfolio are audited on the fical year ended march 31, which differs from the taxpayer's fiscal and tax year ended june 30.

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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS RECEIVED AN UPDATED DETERMINATION LETTER FROM THE IRS STATING FORM 990 IS NO LONGER REQUIRED.THEREFORE THIS IS A FINAL RETURN AND NO ADDITIONAL FORM 990S WILL BE SUBMITTED
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I ADITIONAL INFORMATION
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/ExplanationTxt1LINE 3, 6, 7a, 7b, 11B, 19 BURKE TOWN CENTER, INC.'S STOCK IS OWNED 100% BY PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA. PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA HAS ENGAGED INVESCO REAL ESTATE, AN INDEPENDENT MANAGEMENT COMPANY, TO MANAGE ALL ASPECTS OF THE ENTITY INCLUDING PREPARING THE FINANCIAL STATEMENTS AND TAX RETURNS. PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA HAS THE ABILITY TO HIRE AND FIRE THE MANAGEMENT COMPANY AT ANY TIME, AND PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA IS ULTIMATELY RESPONSIBLE FOR ALL DECISIONS. INVESCO PERSONNEL HOLD THE OFFICER POSITIONS, BUT PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA 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 REVEIW 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 BURKE TOWN CENTER, 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 INVESCO Advisers, Inc. Management Services $188,536 2001 Ross Avenue, Suite 3400, Dallas, TX 75201 BROTHERS PAVING & CONCRETE CORP Construction Services $129,776 9469 HAWKINS DR Manassas, VA 20109 PLEASANT VIEW LANSDCAPES LLC Landscaping $191,575 1701 PENNSYLVANIA AVE NW Washington DC 20006
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LINE 9 - OTHER CHANGES IN FUND BALANCE INCLUDE: ADDITIONAL PAID-IN CAPITAL 223,638 DISTRIBUTIONS TO SHAREHOLDER (1,810,638) ------------- (1,587,000)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LINE 2B AN OUTSIDE ACCOUNTING FIRM PERFORMS AN ANNUAL AUDIT ON THE CONSOLIDATED FINANCIAL STATEMENTS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA'S (PARENT'S) CORE REAL ESTATE PORTOLIO. THE CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE FINANCIAL INFORMATION FOR BURKE TOWN CENTER, INC. (TAXPAYER). HOWEVER, TO ACCOMODATE THE PARENT'S FINANCIAL STATEMENT AUDIT, THE CONSOLIDATED FINANCIAL STATEMENTS OF THE REAL ESTATE PORTFOLIO ARE AUDITED ON THE FICAL YEAR ENDED MARCH 31, WHICH DIFFERS FROM THE TAXPAYER'S FISCAL AND TAX YEAR ENDED JUNE 30.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART XII: FINANCIAL STATEMENTS AND REPORTING
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