Civic Intelligence

Np Quarry Oaks III LLC

990 • Fiscal year 2018 • EIN 81-2425414

Jan 01, 2018 to Dec 31, 2018 • Filed on May 06, 2019

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

22nd percentile

0.02x

Higher debt load relative to assets than 22% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

39th percentile

0.22x

Higher debt load relative to revenue than 39% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Source year 2018

Net Margin

92nd percentile

61%

Higher net margin than 92% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

11th percentile

$0

Higher top officer pay than 11% of similar nonprofits.

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

2018 filings • $50M-$100M nonprofits • Source year 2018

Asset Growth

61st percentile

4.8%

Faster asset growth than 61% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

43rd percentile

3.4%

Faster revenue growth than 43% of similar nonprofits.

2018 filings • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$56,927,931

Up $2,600,970 (+4.8%) from 2017

Net Assets

Up

$55,624,174

Up $1,360,806 (+2.5%) from 2017

Liabilities

Up

$1,303,757

Up $1,240,164 (+1950%) from 2017

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin92nd percentile

Revenue

Up

$5,898,286

Up $193,042 (+3.4%) from 2017

Expenses

Up

$2,287,174

Up $42,553 (+1.9%) from 2017

Net Income

Up

$3,611,112

Up $150,489 (+4.3%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$80M$60M$40M$20M$0Assets 2016: $54,308,431Liabilities 2016: $1,408,447Net Assets 2016: $52,899,9842016Assets 2017: $54,326,961Liabilities 2017: $63,593Net Assets 2017: $54,263,3682017Assets 2018: $56,927,931Liabilities 2018: $1,303,757Net Assets 2018: $55,624,1742018Assets 2019: $59,695,386Liabilities 2019: $1,621,235Net Assets 2019: $58,074,1512019Assets 2020: $59,341,369Liabilities 2020: $1,402,187Net Assets 2020: $57,939,1822020Assets 2021: $65,820,152Liabilities 2021: $1,310,703Net Assets 2021: $64,509,4492021Assets 2022: $53,797,338Liabilities 2022: $1,543,243Net Assets 2022: $52,254,0952022Assets 2023: $54,705,201Liabilities 2023: $1,744,745Net Assets 2023: $52,960,4562023Assets 2024: $57,286,955Liabilities 2024: $1,284,995Net Assets 2024: $56,001,9602024

Highlighted filing

2018

Assets$56,927,931
Liabilities$1,303,757
Net Assets$55,624,174
Open 2018 Filing

Operations Trend

Revenue Growth43rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2016: $3,442,694Expenses 2016: $1,143,832Net Income 2016: $2,298,8622016Revenue 2017: $5,705,244Expenses 2017: $2,244,621Net Income 2017: $3,460,6232017Revenue 2018: $5,898,286Expenses 2018: $2,287,174Net Income 2018: $3,611,1122018Revenue 2019: $6,362,224Expenses 2019: $2,688,836Net Income 2019: $3,673,3882019Revenue 2020: $6,212,517Expenses 2020: $2,336,003Net Income 2020: $3,876,5142020Revenue 2021: $5,918,699Expenses 2021: $2,292,508Net Income 2021: $3,626,1912021Revenue 2022: $5,995,619Expenses 2022: $2,532,225Net Income 2022: $3,463,3942022Revenue 2023: $5,680,442Expenses 2023: $2,099,131Net Income 2023: $3,581,3112023Revenue 2024: $5,772,070Expenses 2024: $1,978,043Net Income 2024: $3,794,0272024

Highlighted filing

2018

Revenue$5,898,286
Expenses$2,287,174
Net Income$3,611,112
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 6, 2019
Return Version
2018v3.1
Gross Receipts
$5,898,286
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$52,640,149$52,640,149→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$52,373,532$52,628,026▲ $254,494
Rtn Earn Endowment Incm Other Fnds$1,889,836$2,996,148▲ $1,106,312
Savings and Temporary Cash Investments$19,584$920,805▲ $901,221
Prepaid Expenses and Deferred Charges$7,377$7,126▼ $251
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$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$54,326,961$56,927,931▲ $2,600,970
Other Assets Total$1,659,851$3,359,851▲ $1,700,000
Liabilities
Accounts Payable and Accrued Expenses$63,593$1,303,757▲ $1,240,164
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$63,593$1,303,757▲ $1,240,164
Net Assets / Fund Balance
Total Net Assets Fund Balance$54,263,368$55,624,174▲ $1,360,806
Total Liabilities and Net Assets / Fund Balance$54,326,961$56,927,931▲ $2,600,970

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$52,640,149--
Other Assets Org$3,359,851--
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
See Attached StatementOfficer

Highest Paid Contractors

ContractorServicesLocationCompensation
Riverside Resources Project ManagemConstruction100 CONGRESS AVE SUITE 1450, Austin, TX 78701$305,591
Pjs Of TexasJanitorial1304 W OLTORF, Austin, TX 78704$296,313
Aew Capital Management LPManagementTWO SEAPORT LANE, Boston, MA 02210-2021$246,753
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,891,773
Investment Income
$68
Other Revenue
$6,445
Change in Net Assets
$3,611,112
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,161,174
Salaries, Compensation, and Employee Benefits$126,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$424,544--$424,544
Other Salaries and Wages$126,000--$126,000
Insurance$28,761--$28,761
Fees for Services Accounting$14,271--$14,271
Office Expenses$13,812--$13,812
Other Expenses$7,863--$7,863
Fees for Services Other$4,500--$4,500
Fees for Services Legal$3,581--$3,581
Advertising$1,601--$1,601
Total Functional Expenses$2,287,174$0$0$2,287,174
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 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 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:

“Information about the organization's investment programs and the financial statements are available to the public on their website: www.nvpers.org”

Filing and Contact Details

Filer

Filer Name
NP Quarry Oaks III LLC
EIN
81-2425414
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
2019-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Bouchard
Formed
2016
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
John Sheehan
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Description amount Distributions (4,204,800) Contributions 254,494 ____________ Total (3,950,306)”

FORM 990, PART XII, LINE 2C:

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

Raw XML AppendixShowing 400 of 412 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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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPRECIATION ON REAL ESTATE
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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. 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.
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 Distributions (4,204,800) Contributions 254,494 ____________ Total (3,950,306)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
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:
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1254494
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$56,927,931
Liabilities
$1,303,757
Net assets
$55,624,174
Revenue
$5,898,286
Expenses
$2,287,174
Net income
$3,611,112
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$57.3$1.28$56.0$5.77$1.98$3.79
2023Detailed filing. Detailed filing data is available for this year.$54.7$1.74$53.0$5.68$2.10$3.58
2022Detailed filing. Detailed filing data is available for this year.$53.8$1.54$52.3$6.00$2.53$3.46
2021Detailed filing. Detailed filing data is available for this year.$65.8$1.31$64.5$5.92$2.29$3.63
2020Detailed filing. Detailed filing data is available for this year.$59.3$1.40$57.9$6.21$2.34$3.88
2019Detailed filing. Detailed filing data is available for this year.$59.7$1.62$58.1$6.36$2.69$3.67
2018Detailed filing. Detailed filing data is available for this year.$56.9$1.30$55.6$5.90$2.29$3.61
2017Detailed filing. Detailed filing data is available for this year.$54.3$0.06$54.3$5.71$2.24$3.46
2016Summary only. Only limited summary data is available for this year.$54.3$1.41$52.9$3.44$1.14$2.30