Civic Intelligence

Knickerbocker 4Th and Madison LLC

EIN 93-3902608 • 501(c)25 • Albany, NY

Profile

Pension benefit oragnization

10 Corporate Woods DrAlbany, NY 12211

n/A

Siviq Scores

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

Liabilities / Assets

24th percentile

0.02x

Higher debt load relative to assets than 24% of similar nonprofits.

$100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

34th percentile

0.18x

Higher debt load relative to revenue than 34% of similar nonprofits.

$100M-$250M nonprofits • Source year 2024

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

$100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

6th percentile

-10%

Faster asset growth than 6% of similar nonprofits.

$100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

99th percentile

4834%

Faster revenue growth than 99% of similar nonprofits.

$100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$202,291,000

Down $23,436,428 (-10%) from 2023

Liabilities

Up

$3,150,000

Up $116,879 (+3.9%) from 2023

Net Assets

Down

$199,141,000

Down $23,553,307 (-11%) from 2023

Revenue

Up

$17,823,791

Up $17,462,582 (+4834%) from 2023

Expenses

Flat

$0

Flat from 2023

Net Income

Up

$17,823,791

Up $17,462,582 (+4834%) from 2023

Trend Graphs

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2023: $225,727,428Liabilities 2023: $3,033,121Net Assets 2023: $222,694,3072023Assets 2024: $202,291,000Liabilities 2024: $3,150,000Net Assets 2024: $199,141,0002024

Highlighted filing

2024

Assets$202,291,000
Liabilities$3,150,000
Net Assets$199,141,000

Operations Trend

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

$20M$15M$10M$5.0M$0Revenue 2023: $361,209Expenses 2023: $0Net Income 2023: $361,2092023Revenue 2024: $17,823,791Expenses 2024: $0Net Income 2024: $17,823,7912024

Highlighted filing

2024

Revenue$17,823,791
Expenses$0
Net Income$17,823,791

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$32,245,113
Mission and Program Overview

Mission

Pension benefit oragnization

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$215,489,278$195,000,000▼ $20,489,278
Cash and Non-Interest-Bearing Accounts$9,891,751$6,969,000▼ $2,922,751
Accounts Receivable$292,598$256,000▼ $36,598
Prepaid Expenses and Deferred Charges$53,801$66,000▲ $12,199
Total Assets$225,727,428$202,291,000▼ $23,436,428
Liabilities
Accounts Payable and Accrued Expenses$2,577,359$2,499,000▼ $78,359
Escrow Account Liability$455,735$439,000▼ $16,735
Deferred Revenue$27$212,000▲ $211,973
Total Liabilities$3,033,121$3,150,000▲ $116,879
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$222,694,307$199,141,000▼ $23,553,307
Total Net Assets Fund Balance$222,694,307$199,141,000▼ $23,553,307
Total Liabilities and Net Assets / Fund Balance$225,727,428$202,291,000▼ $23,436,428

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$164,382,055--
Land$30,617,945--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Wayne ComerPresident
Brett KahnVice President
Brian OkrentVice President
Craig TheirlVice President
Janice HahnVice President
Michael YooVice President
Morgan LingleVice President
Nataly KalininVice President
David C GillanDirector
Margaret AndriolaDirector
Thomas K LeeDirector
Matthew CincottaAssistant Treasurer
Thomas MasengaSecretary
Alfred DortTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Allied Universal Security ServicesSecurityPO BOX 828854, Philadelphia, PA 19182-8854$942,664
Zimmer Gunsul Frasca Architects LLPArchitecture Services1223 SW WASHINGTON ST STE 200, Portland, OR 97205$809,402
Hines West Real Property Services LLCProperty ManagementPO BOX 516531, Los Angeles, CA 90051-0590$477,895
Newmark Partners LPBrokeragePO BOX 741305, Los Angeles, CA 90074-1305$364,890
Mckinstry Co LLCBuilding Repairs & ServicesPO BOX 3895, Seattle, WA 98124$205,849
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$17,823,791
Change in Net Assets
$17,823,791
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization delegates management responsibility to jp morgan advisors.

Form 990, Part VI, Section A, Line 6

The organization's governing body is comprised of officers. All officers act to carry out the business of the organization. Subject to the bylaws, the sole member, nys teachers' retirement system (nystrs), may veto or confirm decisions made by the organization's officers.

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

See explanation for part vi, section a, line 6.

Form 990, Part VI, Section A, Line 7B

See explanation for part vi, section a, line 6.

Form 990, Part VI, Section B, Line 11B

The officers of the organization are responsible to review the form 990 prior to filing. The new york state teachers' retirement system receives a copy of the filed form 990.

Form 990, Part VI, Section B, Line 12C

The organization's conflict of interest policy is the sole responsibility of nystrs. The nystrs code of ethics requires that employees review and sign an annual disclosure statement with human resources by january 10 of each year. Any potential conflicts of interest, including elected positions, business holdings, investment interests, etc. Of employees or their spouse, dependent, or member of household must be disclosed.

Form 990, Part VI, Section B, Line 15

The organization is an irc 501(c)(25) entity holding title to rental real property and remitting the net income to the new york state teachers' retirement system, an irc 401(a) organization. Additionally, the organization does not have any employees therefore there are no processes related to employee compensation.

Form 990, Part VI, Section C, Line 18

The pension benefit organization makes the documents referenced in questions 18 and 19 available upon request to the public. The form 990 is also available to the general public at www.guidestar.org.

Form 990, Part VI, Section C, Line 19

See explanation for part vi, section c, line 18.

FORM 990, PART VII, SECTION A:

Nys teachers retirement system (nystrs) is a section 401(a) trust that is related to knickerbocker 4th & madison, llc (4th & madison), and 4th & madison's three directors are employed by nystrs. The organization's three directors are thomas lee, executive director and cio of nystrs david c gillan, managing director of real estate at nystrs and margaret andriola., nystrs chief financial officer. As part of the annual tax compliance process, 4th & madison asked nystrs for the compensation information for these three individuals who are employed by the nystrs. 4th & madison made reasonable efforts to obtain compensation information and requests were made both in writing and via phone calls. 4th & madison was unable to obtain the compensation information from nystrs and is unable to provide a reasonable estimate of this information.

Filing and Contact Details

Filer

Filer Name
Knickerbocker 4th and Madison LLC
EIN
93-3902608
Phone
5184472756
Address
10 CORPORATE WOODS DR, ALBANY, NY 12211

Signing Officer

Name
Nataly Kalinin
Title
Vice President
Phone
5184472756
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nataly Kalinin
Formed
2023
Legal Domicile
De
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Advisory LLC
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Lori Rothe Yokobosky
Phone
2122970400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Contribution from nystrs 222,333,000. Distribution -16,610,000. Inception through dec 12/21/23 to 12/31/24 361,209.

Financial Statement Notes

PART IV, LINE 2B:

The organization holds security deposits as required by state law.

PART X, LINE 2:

No provision for federal income taxes has been made in the accounts of the company since such taxes are the liabilities of the members and the amounts thereof depend upon their respective tax situations. Further, the capital accounts and income reflected in the accompanying financial statements differ from amounts reported on federal income tax returns because of differences in accounting policies adopted for financial and tax reporting purposes.

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IRS990/MaterialDiversionOrMisuseInd00
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IRS990/MissionDesc0PENSION BENEFIT ORAGNIZATION
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt017823791
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IRS990/PoliticalCampaignActyInd00
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleD/AgentTrusteeEtcInd00
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IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0164382055
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt030617945
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS SECURITY DEPOSITS AS REQUIRED BY STATE LAW.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN MADE IN THE ACCOUNTS OF THE COMPANY SINCE SUCH TAXES ARE THE LIABILITIES OF THE MEMBERS AND THE AMOUNTS THEREOF DEPEND UPON THEIR RESPECTIVE TAX SITUATIONS. FURTHER, THE CAPITAL ACCOUNTS AND INCOME REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS DIFFER FROM AMOUNTS REPORTED ON FEDERAL INCOME TAX RETURNS BECAUSE OF DIFFERENCES IN ACCOUNTING POLICIES ADOPTED FOR FINANCIAL AND TAX REPORTING PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0195000000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES MANAGEMENT RESPONSIBILITY TO JP MORGAN ADVISORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING BODY IS COMPRISED OF OFFICERS. ALL OFFICERS ACT TO CARRY OUT THE BUSINESS OF THE ORGANIZATION. SUBJECT TO THE BYLAWS, THE SOLE MEMBER, NYS TEACHERS' RETIREMENT SYSTEM (NYSTRS), MAY VETO OR CONFIRM DECISIONS MADE BY THE ORGANIZATION'S OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SEE EXPLANATION FOR PART VI, SECTION A, LINE 6.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SEE EXPLANATION FOR PART VI, SECTION A, LINE 6.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE OFFICERS OF THE ORGANIZATION ARE RESPONSIBLE TO REVIEW THE FORM 990 PRIOR TO FILING. THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM RECEIVES A COPY OF THE FILED FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS THE SOLE RESPONSIBILITY OF NYSTRS. THE NYSTRS CODE OF ETHICS REQUIRES THAT EMPLOYEES REVIEW AND SIGN AN ANNUAL DISCLOSURE STATEMENT WITH HUMAN RESOURCES BY JANUARY 10 OF EACH YEAR. ANY POTENTIAL CONFLICTS OF INTEREST, INCLUDING ELECTED POSITIONS, BUSINESS HOLDINGS, INVESTMENT INTERESTS, ETC. OF EMPLOYEES OR THEIR SPOUSE, DEPENDENT, OR MEMBER OF HOUSEHOLD MUST BE DISCLOSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION IS AN IRC 501(C)(25) ENTITY HOLDING TITLE TO RENTAL REAL PROPERTY AND REMITTING THE NET INCOME TO THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM, AN IRC 401(A) ORGANIZATION. ADDITIONALLY, THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES THEREFORE THERE ARE NO PROCESSES RELATED TO EMPLOYEE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PENSION BENEFIT ORGANIZATION MAKES THE DOCUMENTS REFERENCED IN QUESTIONS 18 AND 19 AVAILABLE UPON REQUEST TO THE PUBLIC. THE FORM 990 IS ALSO AVAILABLE TO THE GENERAL PUBLIC AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8SEE EXPLANATION FOR PART VI, SECTION C, LINE 18.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NYS TEACHERS RETIREMENT SYSTEM (NYSTRS) IS A SECTION 401(A) TRUST THAT IS RELATED TO KNICKERBOCKER 4TH & MADISON, LLC (4TH & MADISON), AND 4TH & MADISON'S THREE DIRECTORS ARE EMPLOYED BY NYSTRS. THE ORGANIZATION'S THREE DIRECTORS ARE THOMAS LEE, EXECUTIVE DIRECTOR AND CIO OF NYSTRS DAVID C GILLAN, MANAGING DIRECTOR OF REAL ESTATE AT NYSTRS AND MARGARET ANDRIOLA., NYSTRS CHIEF FINANCIAL OFFICER. AS PART OF THE ANNUAL TAX COMPLIANCE PROCESS, 4TH & MADISON ASKED NYSTRS FOR THE COMPENSATION INFORMATION FOR THESE THREE INDIVIDUALS WHO ARE EMPLOYED BY THE NYSTRS. 4TH & MADISON MADE REASONABLE EFFORTS TO OBTAIN COMPENSATION INFORMATION AND REQUESTS WERE MADE BOTH IN WRITING AND VIA PHONE CALLS. 4TH & MADISON WAS UNABLE TO OBTAIN THE COMPENSATION INFORMATION FROM NYSTRS AND IS UNABLE TO PROVIDE A REASONABLE ESTIMATE OF THIS INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10CONTRIBUTION FROM NYSTRS 222,333,000. DISTRIBUTION -16,610,000. INCEPTION THROUGH DEC 12/21/23 TO 12/31/24 361,209.
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 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART VII, SECTION A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0REIT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0KNICKERBOCKER PROPERTIES INC XXXIII
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO BOX 5005
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd2N/A
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd3NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0PENSION ORG
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1PENSION ORG
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt2PENSION ORG
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt3PENSION ORG
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0MERRIT 7 VENTURES LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1MERRIT 7 INVESTORS LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt2RSQ TOWER LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt3KNICKERBOCKER COLD STORAGE LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0230 PARK AVENUE 12TH FLOOR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1230 PARK AVENUE 12TH FLOOR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt2230 PARK AVENUE 12TH FLOOR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt3100 WILSHIRE BLVD SUITE 100
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm1NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm2NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm3SANTA MONICA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
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