Civic Intelligence

Np Park 288 LLC

990 • Fiscal year 2019 • EIN 81-4985521

Jan 01, 2019 to Dec 31, 2019 • Filed on May 13, 2020

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

31st percentile

0.04x

Higher debt load relative to assets than 31% of similar nonprofits.

2019 filings • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.41x

Higher debt load relative to revenue than 57% of similar nonprofits.

2019 filings • $50M-$100M nonprofits • Source year 2019

Net Margin

88th percentile

45%

Higher net margin than 88% of similar nonprofits.

2019 filings • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2019 filings • $50M-$100M nonprofits • Source year 2019

Asset Growth

60th percentile

7.2%

Faster asset growth than 60% of similar nonprofits.

2019 filings • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

24th percentile

-6.2%

Faster revenue growth than 24% of similar nonprofits.

2019 filings • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$56,016,677

Up $3,758,379 (+7.2%) from 2018

Net Assets

Up

$53,780,898

Up $3,565,822 (+7.1%) from 2018

Liabilities

Up

$2,235,779

Up $192,557 (+9.4%) from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin88th percentile

Revenue

Down

$5,416,580

Down $355,785 (-6.2%) from 2018

Expenses

Up

$2,969,488

Up $514,473 (+21%) from 2018

Net Income

Down

$2,447,092

Down $870,258 (-26%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$80M$60M$40M$20M$0Assets 2017: $51,169,278Liabilities 2017: $1,869,290Net Assets 2017: $49,299,9882017Assets 2018: $52,258,298Liabilities 2018: $2,043,222Net Assets 2018: $50,215,0762018Assets 2019: $56,016,677Liabilities 2019: $2,235,779Net Assets 2019: $53,780,8982019Assets 2020: $58,433,984Liabilities 2020: $2,410,990Net Assets 2020: $56,022,9942020Assets 2021: $72,735,783Liabilities 2021: $2,179,393Net Assets 2021: $70,556,3902021Assets 2022: $53,044,659Liabilities 2022: $2,500,131Net Assets 2022: $50,544,5282022Assets 2023: $55,151,501Liabilities 2023: $2,233,003Net Assets 2023: $52,918,4982023Assets 2024: $55,633,073Liabilities 2024: $2,457,777Net Assets 2024: $53,175,2962024

Highlighted filing

2019

Assets$56,016,677
Liabilities$2,235,779
Net Assets$53,780,898
Open 2019 Filing

Operations Trend

Revenue Growth24th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2017: $4,520,524Expenses 2017: $2,186,886Net Income 2017: $2,333,6382017Revenue 2018: $5,772,365Expenses 2018: $2,455,015Net Income 2018: $3,317,3502018Revenue 2019: $5,416,580Expenses 2019: $2,969,488Net Income 2019: $2,447,0922019Revenue 2020: $5,443,844Expenses 2020: $2,538,959Net Income 2020: $2,904,8852020Revenue 2021: $6,111,492Expenses 2021: $2,435,759Net Income 2021: $3,675,7332021Revenue 2022: $5,828,054Expenses 2022: $2,841,796Net Income 2022: $2,986,2582022Revenue 2023: $6,597,957Expenses 2023: $2,725,818Net Income 2023: $3,872,1392023Revenue 2024: $5,788,768Expenses 2024: $3,031,283Net Income 2024: $2,757,4852024

Highlighted filing

2019

Revenue$5,416,580
Expenses$2,969,488
Net Income$2,447,092
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 13, 2020
Return Version
2019v5.1
Gross Receipts
$5,416,580
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$49,200,774$50,410,005▲ $1,209,231
Pd in Cap Srpls Land Bldg Eqp Fund$49,041,363$49,276,024▲ $234,661
Rtn Earn Endowment Incm Other Fnds$1,173,713$4,504,874▲ $3,331,161
Savings and Temporary Cash Investments$1,122,052$1,086,766▼ $35,286
Prepaid Expenses and Deferred Charges$29,218$23,392▼ $5,826
Accounts Receivable$207,028$6,518▼ $200,510
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
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$52,258,298$56,016,677▲ $3,758,379
Other Assets Total$1,699,226$4,489,996▲ $2,790,770
Liabilities
Accounts Payable and Accrued Expenses$1,802,095$1,986,339▲ $184,244
Other Liabilities$241,127$249,440▲ $8,313
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,043,222$2,235,779▲ $192,557
Net Assets / Fund Balance
Total Net Assets Fund Balance$50,215,076$53,780,898▲ $3,565,822
Total Liabilities and Net Assets / Fund Balance$52,258,298$56,016,677▲ $3,758,379

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$49,312,218--
Other Land Buildings$642,684--
Leasehold Improvements$455,103--
Other Assets Org$4,489,996--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
See Attached StatementOfficer

Highest Paid Contractors

ContractorServicesLocationCompensation
TranswesternReal Estate1900 West Loop South Ste 1300, Houston, TX 77027$430,402
Jjh Construction INCConstruction542 15TH STREET, San Diego, CA 92101$350,600
Jones Lang Lasalle Brokerage INCManagement200 E RANDOLPH ST, Chicago Il, IL 60601-6537$237,399
Aew Capital Management LPManagementTWO SEAPORT LANE, Boston, MA 02210-2021$230,974
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,416,580
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$2,447,092
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,969,488
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$377,531--$377,531
Other Expenses$358,991--$358,991
All Other Expenses$90,902--$90,902
Insurance$85,397--$85,397
Advertising$8,297--$8,297
Fees for Services Accounting$6,698--$6,698
Fees for Services Legal$4,544--$4,544
Office Expenses$4,271--$4,271
Total Functional Expenses$2,969,488$0$0$2,969,488
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$221,358
Prepaid Rent$28,082
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 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 Park 288 LLC
EIN
81-4985521
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
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Bouchard
Formed
2017
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
Steven Kennedy
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Description amount Distributions (1,906,700) Contributions 234,661 ____________ Total (1,672,039)”

FORM 990, PART XII, LINE 2C:

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

Raw XML AppendixShowing 400 of 426 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/PYRevenuesLessExpensesAmt03317350
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0455103
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0455103
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04489996
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1221358
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt050410005
IRS990ScheduleD/TotalBookValueOtherAssetsAmt04489996
IRS990ScheduleD/TotalLiabilityAmt0249440
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAY-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/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 (1,906,700) Contributions 234,661 ____________ Total (1,672,039)
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:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1234661
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0PUBLIC EMPLOYEES RETIREMENT SYSTEM OF NEVADA
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1PUBLIC EMPLOYEES RETIREMENT SYSTEM OF NEVADA
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IRS990/USAddress/ZIPCd0022102021
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ReturnHeader/BusinessOfficerGrp/PersonNm0SUSAN BOUCHARD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NP Park 288 LLC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O AEW CAPITAL MANAGEMENT LP
ReturnHeader/Filer/BusinessNameControlTxt0NPPA

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$56,016,677
Liabilities
$2,235,779
Net assets
$53,780,898
Revenue
$5,416,580
Expenses
$2,969,488
Net income
$2,447,092
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$55.6$2.46$53.2$5.79$3.03$2.76
2023Detailed filing. Detailed filing data is available for this year.$55.2$2.23$52.9$6.60$2.73$3.87
2022Detailed filing. Detailed filing data is available for this year.$53.0$2.50$50.5$5.83$2.84$2.99
2021Detailed filing. Detailed filing data is available for this year.$72.7$2.18$70.6$6.11$2.44$3.68
2020Detailed filing. Detailed filing data is available for this year.$58.4$2.41$56.0$5.44$2.54$2.90
2019Detailed filing. Detailed filing data is available for this year.$56.0$2.24$53.8$5.42$2.97$2.45
2018Detailed filing. Detailed filing data is available for this year.$52.3$2.04$50.2$5.77$2.46$3.32
2017Summary only. Only limited summary data is available for this year.$51.2$1.87$49.3$4.52$2.19$2.33