Palm Terrace Investment Group LLC C/O LaSalle Investment Management

Nonprofit profile at a glance

EIN
205318883
IRS 990 coverage
2011–2015
Forms available
Form 990 2015
Location
Chicago, IL, USA
Phone
3127825800
Rating confidence
Limited
Sector
Real Estate Associations

Reported finances

Revenue
$-19,197,496
Expenses
$784,747
Assets
$215,908
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Stephen Adams (President/Director)

People named in this filing

  • Stephen Adams (President/Director)
  • Allison McFaul (VP/Secretary)
  • Rita F Brannon (VP/Treasurer/Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose is to acquire real property, hold title to, and collect income from such property and remit the entire amount of income from such property, less expenses, to its members.

What it reported doing in 2015

Palm Terrace Investment Group, LLC is a 501(C)(25) organization. It was organized for the exclusive purpose of acquiring real property, holding title to, and collecting income from such property, and remitting the entire amount of the income from such property (less expenses) to the member of this company. The sole member of this company is the Alaska Permanent Fund Corporation, which is a tax-exempt organization which meets the requirements of section 501(C). All distributions were paid to the Alaska Permanent Fund Corporation.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -104.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: -18.2% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 3 contractors listed · $1.5M reported
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2011 to 2015
  • Contacts: How to reach this organization
  • Related organizations: 38 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Asset growth scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.