Civic Intelligence

Sdc Latitudes at the Moors Inc a Delaware Corporation

990 • Fiscal year 2014 • EIN 94-3340629

Jan 01, 2014 to Dec 31, 2014 • Filed on May 09, 2015

101 California St 26th FloorSan Francisco, CA 94111

(415) 781-3300

Siviq Scores

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

Liabilities / Assets

55th percentile

0.33x

Higher debt load relative to assets than 55% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

86th percentile

3.38x

Higher debt load relative to revenue than 86% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Source year 2014

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

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

2014 filings • $50M-$100M nonprofits • Source year 2014

Asset Growth

41st percentile

2.7%

Faster asset growth than 41% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

44th percentile

2.9%

Faster revenue growth than 44% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Up

$56,119,775

Up $1,485,065 (+2.7%) from 2013

Net Assets

Up

$37,775,547

Up $2,892,570 (+8.3%) from 2013

Liabilities

Down

$18,344,228

Down $1,407,505 (-7.1%) from 2013

Revenue

Up

$5,427,402

Up $152,025 (+2.9%) from 2013

Expenses

Down

$4,471,765

Down $179,065 (-3.9%) from 2013

Net Income

Up

$955,637

Up $331,090 (+53%) from 2013

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $42,853,654Liabilities 2010: $17,886,048Net Assets 2010: $24,967,6062010Assets 2011: $47,168,666Liabilities 2011: $18,523,919Net Assets 2011: $28,644,7472011Assets 2012: $50,767,015Liabilities 2012: $19,014,048Net Assets 2012: $31,752,9672012Assets 2013: $54,634,710Liabilities 2013: $19,751,733Net Assets 2013: $34,882,9772013Assets 2014: $56,119,775Liabilities 2014: $18,344,228Net Assets 2014: $37,775,5472014Assets 2015: $65,707,082Liabilities 2015: $17,688,347Net Assets 2015: $48,018,7352015Assets 2016: $68,948,236Liabilities 2016: $31,394,273Net Assets 2016: $37,553,9632016Assets 2017: $69,769,666Liabilities 2017: $31,366,255Net Assets 2017: $38,403,4112017Assets 2018: $1,583,828Liabilities 2018: $71,661Net Assets 2018: $1,512,1672018Assets 2019: $90,857Liabilities 2019: $817Net Assets 2019: $90,0402019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2014

Assets$56,119,775
Liabilities$18,344,228
Net Assets$37,775,547

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $5,187,2902010Expenses 2011: $4,653,2492011Expenses 2012: $4,513,4052012Revenue 2013: $5,275,377Expenses 2013: $4,650,830Net Income 2013: $624,5472013Revenue 2014: $5,427,402Expenses 2014: $4,471,765Net Income 2014: $955,6372014Revenue 2015: $5,757,425Expenses 2015: $4,551,056Net Income 2015: $1,206,3692015Revenue 2016: $6,140,132Expenses 2016: $4,876,193Net Income 2016: $1,263,9392016Revenue 2017: $6,344,645Expenses 2017: $4,926,497Net Income 2017: $1,418,1482017Revenue 2018: $50,882,936Expenses 2018: $3,316,109Net Income 2018: $47,566,8272018Revenue 2019: $7,526Expenses 2019: $4,653Net Income 2019: $2,8732019Revenue 2020: $884Expenses 2020: $55,238Net Income 2020: -$54,3542020

Highlighted filing

2014

Revenue$5,427,402
Expenses$4,471,765
Net Income$955,637
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 9, 2015
Return Version
2014v5.0
Gross Receipts
$5,427,402
Mission and Program Overview

Mission

Title Holding Corporation For Real Property

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$53,599,628$55,224,128▲ $1,624,500
Rtn Earn Endowment Incm Other Fnds$25,795,698$27,329,861▲ $1,534,163
Cap Stk Tr Prin Current Funds$9,087,279$10,445,686▲ $1,358,407
Cash and Non-Interest-Bearing Accounts$697,880$619,801▼ $78,079
Prepaid Expenses and Deferred Charges$114,308$109,994▼ $4,314
Accounts Receivable$72,872$61,991▼ $10,881
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$54,634,710$56,119,775▲ $1,485,065
Other Assets Total$150,022$103,861▼ $46,161
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,000,000$16,000,000→ $0
Accounts Payable and Accrued Expenses$3,641,100$2,258,685▼ $1,382,415
Other Liabilities$110,633$85,543▼ $25,090
Total Liabilities$19,751,733$18,344,228▼ $1,407,505
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,882,977$37,775,547▲ $2,892,570
Total Liabilities and Net Assets / Fund Balance$54,634,710$56,119,775▲ $1,485,065

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$26,370,262-$26,370,262
Buildings$18,605,386-$18,605,386
Leasehold Improvements$5,789,471-$5,789,471
Land$4,459,009-$4,459,009
Compensation and Service Providers

Board Members and Trustees

NameTitle
See Supplemental InformationSee Supplementa
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,427,172
Investment Income
$230
Other Revenue
$0
Change in Net Assets
$955,637
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,471,765
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
Interest---$928,650
Depreciation Depletion---$747,128
Other Expenses---$384,353
Insurance---$121,770
All Other Expenses---$20,503
Total Functional Expenses$0$0$0$4,471,765
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit$85,543
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

All management duties and management decision making of the taxpayer is delegated to Rreef America, LLC and Rreef Management, LLC pursuant to the terms of certain management agreements.

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

Taxpayer is organized as a nonprofit corporation under the laws of the state of Delaware. Each stockholder of the taxpayer shall at all times be either (1) a qualified pension, profit-sharing or stock bonus plan that meets the requirements of Section 401(a) of the IRC; (2) a governmental plan (within the meaning of Section 414(d) of the Code); (3) the United States, any State or political subdivision thereof, or any agency or instrumentality of the foregoing; or (4) any organization described in Section 501(c)(3) of the Code. Taxpayer has only one class of stock and such class is entitled to vote or execute consents either in person or by agent or agents authorized by written proxy. Such class of stockholder is entitled to distributions of profits or a share of the net assets upon dissolution.

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 is reviewed annually prior to filing by an officer of the management company engaged by the taxpayer to manage the operations of the taxpayer. The return is then signed by a member of the taxpayer's governing body.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All employees of Rreef Management, LLC, which includes the members of the taxpayer's governing body, are required to at least annually disclose and certify via an electronic reporting system that they have: received, read and understand all of the conflict of interest and other related policies and that understand and agree to conform with such policies.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The corporate bylaws of the taxpayer provide that no officers of the taxpayer shall receive any compensation. All voting members of the governing body are independent as detailed in Part VI, Section A, lines 1a and 1b above. The governing body insures that this policy and corporate bylaw is enforced and none of its members nor any officer or employee of the taxpayer receives any compensation from the taxpayer

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
SDC Latitudes at the Moors Inc
EIN
94-3340629
Phone
4157813300
Address
101 California St 26th Floor, San Francisco, CA 94111

Signing Officer

Name
Aimee Samford
Title
CFO
Signed
2015-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aimee Samford
Formed
1999
Legal Domicile
De
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Comyns Smith McCleary & Deaver LLP
Address
3470 Mt Diablo Blvd A110, Lafayette, CA 94549
Preparer
Dan K Deaver
Phone
9252991040
Supplemental Narrative

Additional Explanations

Client Note 1

Client Note 1 - Form 990Part VII, Section AAs provided in the corporate bylaws of the taxpayer, all officers and directors of the taxpayer serve as such without compensation and, as a result, the taxpayer is precluded from paying any compensation to any of the following officers/directors.OFFICERS AND DIRECTORSDIRECTOR Marc L. FelicianoOFFICERSPresident Marc L. FelicianoVice President Darrell J. Campos Adolfo J. Diaz Timothy E. Ellsworth Yvette George W. Todd Henderson Joseph R. Senko James E. Toney Anne-Marie VandenbergVice President & Treasurer Aimee SamfordVice President & Assistant Treasurer Margaret A. FlanaganSecretary Portia Guerin

Other Changes In Net Assets Or Fund Balances - Other Increases

Contributed- Advisor Fees = $1358407

Other Changes In Net Assets Or Fund Balances - Other Increases

Depreciation = $747128

Other Changes In Net Assets Or Fund Balances - Other Decreases

Distribution of earnings = -$400000

Financial Statement Notes

Part X : FIN48 Footnote

Taxpayer is included in a consolidated audit report with related entities (See Sch. R) and no liability for uncertain tax positions under FASB ASC 740 has been included. What follows is the text of the footnote included in such financial statements with respect to income taxes:Income TaxesThe Account is made up of title holding companies that qualify as tax exempt under Internal Revenue Section 501(c)(25) and related state income tax law. Accordingly, the accompanying combined financial statements contain no provision for income taxes. If an uncertain income tax provision were to be identified, the Account would account for such in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 740. No uncertain tax positions were identified in the current and prior year.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - Form 990Part VII, Section AAs provided in the corporate bylaws of the taxpayer, all officers and directors of the taxpayer serve as such without compensation and, as a result, the taxpayer is precluded from paying any compensation to any of the following officers/directors.OFFICERS AND DIRECTORSDIRECTOR Marc L. FelicianoOFFICERSPresident Marc L. FelicianoVice President Darrell J. Campos Adolfo J. Diaz Timothy E. Ellsworth Yvette George W. Todd Henderson Joseph R. Senko James E. Toney Anne-Marie VandenbergVice President & Treasurer Aimee SamfordVice President & Assistant Treasurer Margaret A. FlanaganSecretary Portia Guerin
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All management duties and management decision making of the taxpayer is delegated to Rreef America, LLC and Rreef Management, LLC pursuant to the terms of certain management agreements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Taxpayer is organized as a nonprofit corporation under the laws of the state of Delaware. Each stockholder of the taxpayer shall at all times be either (1) a qualified pension, profit-sharing or stock bonus plan that meets the requirements of Section 401(a) of the IRC; (2) a governmental plan (within the meaning of Section 414(d) of the Code); (3) the United States, any State or political subdivision thereof, or any agency or instrumentality of the foregoing; or (4) any organization described in Section 501(c)(3) of the Code. Taxpayer has only one class of stock and such class is entitled to vote or execute consents either in person or by agent or agents authorized by written proxy. Such class of stockholder is entitled to distributions of profits or a share of the net assets upon dissolution.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 is reviewed annually prior to filing by an officer of the management company engaged by the taxpayer to manage the operations of the taxpayer. The return is then signed by a member of the taxpayer's governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All employees of Rreef Management, LLC, which includes the members of the taxpayer's governing body, are required to at least annually disclose and certify via an electronic reporting system that they have: received, read and understand all of the conflict of interest and other related policies and that understand and agree to conform with such policies.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The corporate bylaws of the taxpayer provide that no officers of the taxpayer shall receive any compensation. All voting members of the governing body are independent as detailed in Part VI, Section A, lines 1a and 1b above. The governing body insures that this policy and corporate bylaw is enforced and none of its members nor any officer or employee of the taxpayer receives any compensation from the taxpayer
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Contributed- Advisor Fees = $1358407
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Depreciation = $747128
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Distribution of earnings = -$400000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Other Changes In Net Assets Or Fund Balances - Other Decreases
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0101 California St 26th Floor
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0San Francisco
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0941115853
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IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt054634710
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IRS990/TotalAssetsGrp/EOYAmt056119775
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04471765
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019751733
IRS990/TotalLiabilitiesEOYAmt018344228
IRS990/TotalLiabilitiesGrp/BOYAmt019751733
IRS990/TotalLiabilitiesGrp/EOYAmt018344228
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt034882977
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt037775547
IRS990/TotalProgramServiceRevenueAmt05427172
IRS990/TotalRevenueGrp/ExclusionAmt0230
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05427172
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05427402
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt054634710
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt056119775
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Aimee Samford
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SDC Latitudes at the Moors Inc
ReturnHeader/Filer/BusinessNameControlTxt0SDCL
ReturnHeader/Filer/EIN0943340629
ReturnHeader/Filer/PhoneNum04157813300
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 California St 26th Floor
ReturnHeader/Filer/USAddress/CityNm0San Francisco
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094111
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Comyns Smith McCleary & Deaver LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03470 Mt Diablo Blvd A110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lafayette
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094549
ReturnHeader/PreparerPersonGrp/PhoneNum09252991040
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Dan K Deaver
ReturnHeader/ReturnTs02015-05-09T09:44:52-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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