Civic Intelligence

Pfrs Yamato Corp

EIN 38-2975514 • 501(c)25 • Glendale, CA

Profile

The exclusive purpose of the Corporation is to acquire, hold title to, and collect income from real property only for the Police and Fire Retirement System (PFRS) of the City of Detroit, and to turn over the entire amount of such income less expenses to such Pension Fund.

801 N Brand Blvd No 800Glendale, CA 91203

n/A

Siviq Scores

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

Liabilities / Assets

36th percentile

0.04x

Higher debt load relative to assets than 36% of similar nonprofits.

$25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

26th percentile

0.03x

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

$25M-$50M nonprofits • Source year 2015

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

$25M-$50M nonprofits • Source year 2015

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

$25M-$50M nonprofits • Source year 2015

Asset Growth

1st percentile

-95%

Faster asset growth than 1% of similar nonprofits.

$25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

80th percentile

44%

Faster revenue growth than 80% of similar nonprofits.

$25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets36th percentile

Assets

Down

$1,829,089

Down $33,357,060 (-95%) from 2014

Liabilities

Down

$69,205

Down $16,028,548 (-100%) from 2014

Net Assets

Down

$1,759,884

Down $17,328,512 (-91%) from 2014

Operations
Liabilities / Revenue26th percentileNet Margin100th percentile

Revenue

Up

$2,052,758

Up $626,037 (+44%) from 2014

Expenses

Flat

$0

Flat from 2014

Net Income

Up

$2,052,758

Up $626,037 (+44%) from 2014

Trend Graphs

Balance Sheet Trend

Asset Growth1st percentile

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

$40M$30M$20M$10M$0Assets 2011: $28,526,598Liabilities 2011: $16,540,701Net Assets 2011: $11,985,8972011Assets 2012: $29,671,368Liabilities 2012: $16,140,757Net Assets 2012: $13,530,6112012Assets 2013: $30,838,440Liabilities 2013: $16,067,548Net Assets 2013: $14,770,8922013Assets 2014: $35,186,149Liabilities 2014: $16,097,753Net Assets 2014: $19,088,3962014Assets 2015: $1,829,089Liabilities 2015: $69,205Net Assets 2015: $1,759,8842015

Highlighted filing

2015

Assets$1,829,089
Liabilities$69,205
Net Assets$1,759,884
Open 2015 Filing

Operations Trend

Revenue Growth80th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: -$196,354Expenses 2011: $0Net Income 2011: -$196,3542011Revenue 2012: $384,426Expenses 2012: $0Net Income 2012: $384,4262012Revenue 2013: $879,031Expenses 2013: $0Net Income 2013: $879,0312013Revenue 2014: $1,426,721Expenses 2014: $0Net Income 2014: $1,426,7212014Revenue 2015: $2,052,758Expenses 2015: $0Net Income 2015: $2,052,7582015

Highlighted filing

2015

Revenue$2,052,758
Expenses$0
Net Income$2,052,758
Open 2015 Filing

Filings

Most recent year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,829,089
Liabilities
$69,205
Net assets
$1,759,884
Revenue
$2,052,758
Expenses
$0
Net income
$2,052,758
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$1.83$0.07$1.76$2.05$0.00$2.05
2014Detailed filing. Detailed filing data is available for this year.$35.2$16.1$19.1$1.43$0.00$1.43
2013Summary only. Only limited summary data is available for this year.$30.8$16.1$14.8$0.88$0.00$0.88
2012Summary only. Only limited summary data is available for this year.$29.7$16.1$13.5$0.38$0.00$0.38
2011Summary only. Only limited summary data is available for this year.$28.5$16.5$12.0$0.20$0.00$0.20
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$34,868,927
Mission and Program Overview

Mission

The exclusive purpose of the Corporation is to acquire, hold title to, and collect income from real property only for the Police and Fire Retirement System (PFRS) of the City of Detroit, and to turn over the entire amount of such income less expenses to such Pension Fund.

Exempt Org. Real Estate Holding Corp.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,700,000$0▼ $32,700,000
Rtn Earn Endowment Incm Other Fnds$9,461,070$8,738,044▼ $723,026
Savings and Temporary Cash Investments$1,917,232$1,386,194▼ $531,038
Accounts Receivable$7,343$398,616▲ $391,273
Prepaid Expenses and Deferred Charges$44,721$44,279▼ $442
Cap Stk Tr Prin Current Funds$1,000$1,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$9,626,326$-6,979,160▼ $16,605,486
Total Assets$35,186,149$1,829,089▼ $33,357,060
Other Assets Total$516,853$0▼ $516,853
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,300,000$0▼ $15,300,000
Deferred Revenue$281,967$0▼ $281,967
Accounts Payable and Accrued Expenses$197,528$57,145▼ $140,383
Other Liabilities$318,258$12,060▼ $306,198
Total Liabilities$16,097,753$69,205▼ $16,028,548
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,088,396$1,759,884▼ $17,328,512
Total Liabilities and Net Assets / Fund Balance$35,186,149$1,829,089▼ $33,357,060
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Stanley L IezmanChairman of the Board/CEO/Trsr/Director
Scott DarlingPresident/Secretary/Director
Kirk HelgesonEVP/Asst Secretary/Director

Highest Paid Contractors

ContractorServicesLocationCompensation
American Realty AdvisorsInvestment Management801 N Brand Blvd Ste 800, Glendale, CA 91203$324,750
M&M Asphalt Maintenance IncConstruction1180 SW 10th Street, Delray Beach, FL 33444$261,895
PM Realty GroupReal Estate Services1000 Main Suite 2400, Houston, TX 77002$179,380
Aspen Facility Services LLCJanitorialPO Box 7268, Delray Beach, FL 33482$132,238
CB Richard Ellis IncLeasing CommissionsPO Box 406588, Atlanta, GA 30384$109,658
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$898,822
Other Revenue
$1,153,936
Change in Net Assets
$2,052,758
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
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Stanley L. Iezman, Board member, is the owner of American Realty AdvisorsInvestment Management FeeNo$324,750
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$12,060
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“The Police and Fire Retirement System of the City of Detroit is the sole stockholder.”

Form 990, Part VI, Section A, line 7A

“The governing body of the Police and Fire Retirement System of the City of Detroit may also elect members of the governing body.”

Form 990, Part VI, Section B, line 11

“The governing body provides annual financial reports, that are prepared by the real estate property managers, to professionals to prepare the Form 990. After the Form 990 is complete the governing body reviews, signs and submits the Form 990 to the IRS.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
PFRS Yamato Corp
EIN
38-2975514
Phone
8185451152
Address
801 N Brand Blvd No 800, Glendale, CA 91203

Signing Officer

Name
Scott Darling
Title
President/Secretary/Director
Phone
8185451152
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Darling
Formed
1990
Legal Domicile
Mi
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Rsm US Llp
Address
1 S WACKER DRIVE STE 800, CHICAGO, IL 60606
Preparer
Zack Fortsch
Phone
3126343400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Previously recorded unrealized loss on real estate investments sold -2,775,784. Net amount distributed to the PFRS of the City of Detroit -1,875,000. Contributions from the PFRS of the City of Detroit 11,663,500. Intercompany Transfers 805,000. Return of Capital to the PFRS of the City of Detroit -27,198,986.”

Financial Statement Notes

Part X, Line 2:

“No provision or liability for income taxes has been reflected in the accompanying combined financial statements. Accounting Standards Codification Topic 740, Income Taxes, requires the recognition of the impact of a tax position in the combined financial statements if that position is more likely than not of being sustained on a tax return upon examination by the relevant taxing authority, based on the technical merits of the position. At December 31, 2015, the Separate Account had no unrecognized tax benefits.”

Raw XML Appendix354 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/BooksInCareOfDetail/USAddress/AddressLine1Txt0801 N Brand Blvd Suite 800
IRS990/BooksInCareOfDetail/USAddress/CityNm0Glendale
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4CB Richard Ellis Inc
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IRS990/DecisionsSubjectToApprovaInd00
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IRS990/DeferredRevenueGrp/EOYAmt00
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
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IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/PersonNm1Scott Darling
IRS990/Form990PartVIISectionAGrp/PersonNm2Kirk Helgeson
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
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IRS990/Form990PartVIISectionAGrp/TitleTxt1President/Secretary/Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2EVP/Asst Secretary/Director
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0No provision or liability for income taxes has been reflected in the accompanying combined financial statements. Accounting Standards Codification Topic 740, Income Taxes, requires the recognition of the impact of a tax position in the combined financial statements if that position is more likely than not of being sustained on a tax return upon examination by the relevant taxing authority, based on the technical merits of the position. At December 31, 2015, the Separate Account had no unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990/ScheduleJRequiredInd00
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Stanley L. Iezman, Board member, is the owner of American Realty Advisors
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Investment Management Fee
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Police and Fire Retirement System of the City of Detroit is the sole stockholder.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing body of the Police and Fire Retirement System of the City of Detroit may also elect members of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing body provides annual financial reports, that are prepared by the real estate property managers, to professionals to prepare the Form 990. After the Form 990 is complete the governing body reviews, signs and submits the Form 990 to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Previously recorded unrealized loss on real estate investments sold -2,775,784. Net amount distributed to the PFRS of the City of Detroit -1,875,000. Contributions from the PFRS of the City of Detroit 11,663,500. Intercompany Transfers 805,000. Return of Capital to the PFRS of the City of Detroit -27,198,986.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, line 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Police and Fire Retirement System of the City of Detroit
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0382465279
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0401(a)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Invest and administer pension fund for its members
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0908 Coleman A Young Municipal Cente
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Detroit
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd048226
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt035186149
IRS990/TotalAssetsEOYAmt01829089
IRS990/TotalAssetsGrp/BOYAmt035186149
IRS990/TotalAssetsGrp/EOYAmt01829089
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016097753
IRS990/TotalLiabilitiesEOYAmt069205
IRS990/TotalLiabilitiesGrp/BOYAmt016097753
IRS990/TotalLiabilitiesGrp/EOYAmt069205
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019088396
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01759884
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0898822
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01153936
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02052758
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt035186149
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01829089
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0801 N Brand Blvd No 800
IRS990/USAddress/CityNm0Glendale
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd091203
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Scott Darling
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President/Secretary/Director
ReturnHeader/BusinessOfficerGrp/PhoneNum08185451152
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PFRS Yamato Corp
ReturnHeader/Filer/BusinessNameControlTxt0PFRS
ReturnHeader/Filer/EIN0382975514
ReturnHeader/Filer/PhoneNum08185451152
ReturnHeader/Filer/USAddress/AddressLine1Txt0801 N Brand Blvd No 800
ReturnHeader/Filer/USAddress/CityNm0Glendale
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd091203
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420714325
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RSM US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01 S WACKER DRIVE STE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060606
ReturnHeader/PreparerPersonGrp/PhoneNum03126343400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Zack Fortsch
ReturnHeader/ReturnTs02016-11-15T12:53:24-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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