Civic Intelligence

Np Dr Phillips LLC

990 • Fiscal year 2021 • EIN 87-1032503

Jun 03, 2021 to Dec 31, 2021 • Filed on Sep 07, 2022

C/O AEW 2 Seaport Lane 15TH FLOORBoston, MA 02210

(617) 261-9258

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

17th percentile

0.00x

Higher debt load relative to assets than 17% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

27th percentile

0.10x

Higher debt load relative to revenue than 27% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Source year 2021

Net Margin

85th percentile

51%

Higher net margin than 85% of similar nonprofits.

2021 filings • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2021 filings • $100M-$250M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

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

Source year 2021

Revenue Growth

Score unavailable

No value available

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

Source year 2021

Assets

$115,889,113

No earlier filing loaded for comparison.

Net Assets

$115,423,145

No earlier filing loaded for comparison.

Liabilities

$465,968

No earlier filing loaded for comparison.

Revenue

$4,660,468

No earlier filing loaded for comparison.

Expenses

$2,262,314

No earlier filing loaded for comparison.

Net Income

$2,398,154

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2021: $115,889,113Liabilities 2021: $465,968Net Assets 2021: $115,423,1452021Assets 2022: $116,332,527Liabilities 2022: $561,643Net Assets 2022: $115,770,8842022Assets 2023: $116,809,723Liabilities 2023: $523,846Net Assets 2023: $116,285,8772023Assets 2024: $118,230,364Liabilities 2024: $513,757Net Assets 2024: $117,716,6072024

Highlighted filing

2021

Assets$115,889,113
Liabilities$465,968
Net Assets$115,423,145

Operations Trend

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

$15M$10M$5.0M$0Revenue 2021: $4,660,468Expenses 2021: $2,262,314Net Income 2021: $2,398,1542021Revenue 2022: $9,684,084Expenses 2022: $4,575,713Net Income 2022: $5,108,3712022Revenue 2023: $10,357,156Expenses 2023: $4,891,370Net Income 2023: $5,465,7862023Revenue 2024: $10,230,742Expenses 2024: $4,689,787Net Income 2024: $5,540,9552024

Highlighted filing

2021

Revenue$4,660,468
Expenses$2,262,314
Net Income$2,398,154
Jump To
Filing Snapshot
Filing Period
Jun 3, 2021 to Dec 31, 2021
Signed
Sep 7, 2022
Return Version
2021v4.2
Gross Receipts
$4,660,468
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$0$115,271,268▲ $115,271,268
Cap Stk Tr Prin Current Funds$0$113,024,991▲ $113,024,991
Rtn Earn Endowment Incm Other Fnds$0$2,398,154▲ $2,398,154
Cash and Non-Interest-Bearing Accounts$0$300,322▲ $300,322
Accounts Receivable$0$234,879▲ $234,879
Prepaid Expenses and Deferred Charges$0$62,933▲ $62,933
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
Pd in Cap Srpls Land Bldg Eqp Fund$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$0$115,889,113▲ $115,889,113
Other Assets Total$0$19,711▲ $19,711
Liabilities
Accounts Payable and Accrued Expenses$0$271,256▲ $271,256
Other Liabilities$0$175,638▲ $175,638
Deferred Revenue$0$19,074▲ $19,074
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$0$465,968▲ $465,968
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$115,423,145▲ $115,423,145
Total Liabilities and Net Assets / Fund Balance$0$115,889,113▲ $115,889,113

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$115,200,298$0$0
Other Land Buildings$70,970$0$0
Compensation and Service Providers

Board Members and Trustees

NameTitle
see schedule oauthorized signatories
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,660,468
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$2,398,154
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,966,088
Salaries, Compensation, and Employee Benefits$296,226
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$1,115,887
Fees for Services Management---$304,923
Other Salaries and Wages---$296,226
Insurance---$141,774
Advertising---$71,095
Other Expenses---$24,330
Fees for Services Legal---$7,010
Fees for Services Accounting---$6,928
All Other Expenses---$6,374
Office Expenses---$6,119
Fees for Services Other---$4,830
Total Functional Expenses$0$0$0$2,262,314
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$144,623
Unearned Revenue$31,015
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
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 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, bdo usa, llp.

FORM 990, PART VI, SECTION B, LINE 15:

The organization has no employees.

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

FORM 990, PART VII, SECTION A, LINE 1A:

Authorized signatories: carrie a. Bellerby seth e. Berger alec d. Burleigh michael p. Byrne james j. Finnegan jeffrey d. Furber joshua heller jonathan e. Martin thomas e. Mullahey neal k. Sharma

Filing and Contact Details

Filer

Filer Name
Np Dr Phillips LLC
EIN
87-1032503
In Care Of
% MINDY FITZPATRICK
Phone
6172619258
Address
C/O AEW 2 Seaport Lane 15TH FLOOR, Boston, MA 02210

Signing Officer

Name
Mindy Fitzpatrick
Title
Vice president
Phone
6172619258
Signed
2022-09-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mindy Fitzpatrick
Formed
2021
Legal Domicile
De
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
10

Preparer

Firm
Bdo USA Llp
Address
ONE INTERNATIONAL PLACE, BOSTON, MA 02110
Preparer
Brian Vigneault
Phone
6174220700
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:

Contributions $114,572,991. Distribution income -$1,548,000.

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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.
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, BDO USA, LLP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INFORMATION ABOUT THE ORGANIZATION'S INVESTMENT PROGRAMS AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THEIR WEBSITE: WWW.NVPERS.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AUTHORIZED SIGNATORIES: CARRIE A. BELLERBY SETH E. BERGER ALEC D. BURLEIGH MICHAEL P. BYRNE JAMES J. FINNEGAN JEFFREY D. FURBER JOSHUA HELLER JONATHAN E. MARTIN THOMAS E. MULLAHEY NEAL K. SHARMA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONTRIBUTIONS $114,572,991. DISTRIBUTION INCOME -$1,548,000.
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 B, LINE 15:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VII, SECTION A, LINE 1a:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt23NVPERS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PUBLIC EMPL' RTRMT SYS OF NV
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1NP Museum Gardens LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2NP Parc Chateaux LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3NP 500 Milwaukee LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4NP Machine Works LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5NP 21301 Ferrero Parkway LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6NP Waterfront Place LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt7NP Parkwood Point LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt8NP Six Forks LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt9NP Quarry Oaks III LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt10NP Carnegie Office Holdings LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt11NP Park 288 LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt12NP Atlanta Infill Industrial LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt13NP Royal Ridge LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt14NP Winter Park LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt15NP Minneapolis Ind LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt16NP Bridge Point North LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt17NP Bangerter Crossing LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt18NP Sprague Street LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt19NP Longhorn LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt20NP Crosby LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt21NP 18th & Chet LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt22NP Abbey LLC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt23NP Eagle Creek Industrial LLC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1203246082
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0401(A)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(25)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(c)(25)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt17501(c)(25)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt18501(c)(25)

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