Water Ridge Realty Corporation
- Assets
- $39.3m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 02/2017
- Data as of
- 06/2023
- EIN
- 81-1066822
Organization Overview
Water Ridge Realty Corporation is located in Boston, MA. The organization was established in 2017. According to its NTEE Classification (Y30) the organization is classified as: Pension & Retirement Funds, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2023, Water Ridge Realty Corporation generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.6% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOLD TITLE TO REAL ESTATE INVESTMENTS OF A PUBLIC EMPLOYEE RETIREMENT PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLD TITLE TO REAL ESTATE INVESTMENTS OF A PUBLIC EMPLOYEE RETIREMENT PLAN AND COLLECT AND DISTRIBUTE INCOME FROM THESE INVESTMENTS TO THE EMPLOYEE RETIREMENT PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Palmer President | OfficerTrustee | 0 | $0 |
Millie C Cassidy Director | Trustee | 0 | $0 |
John H Streicker Director | Trustee | 0 | $0 |
Martin Cawley Vice President | Officer | 0 | $0 |
George N Tietjen Vice President | Officer | 0 | $0 |
Leland Roth Treasurer | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,385,816 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,385,816 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,346 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $47,512 |
| Fees for services: Legal | $1,534 |
| Fees for services: Accounting | $3,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $60,815 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $401,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,058 |
| All other expenses | $0 |
| Total functional expenses | $1,228,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,449 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $38,255,260 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $638,040 |
| Total assets | $39,331,749 |
| Accounts payable and accrued expenses | $393,707 |
| Grants payable | $0 |
| Deferred revenue | $280,613 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,593,299 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,267,619 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $12,064,736 |
| Retained earnings, endowment, accumulated income, or other funds | $12,999,394 |
| Total liabilities and net assets/fund balances | $39,331,749 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Np Dr Phillips Llc Boston, MA | $116,332,527 | $9,684,084 |
Np Crosby Llc Boston, MA | $78,734,275 | $6,730,407 |
Np Abbey Llc Boston, MA | $101,424,820 | $5,436,233 |
Np 18th & Chet Llc Boston, MA | $81,716,238 | $5,613,750 |
Water Ridge Realty Corporation Boston, MA | $39,331,749 | $3,385,816 |
Retired Public Employees Association Inc Troy, NY | $1,349,646 | $585,633 |
Niskayuna Police Benevolent Assoc Inc Schenectady, NY | $131,458 | $0 |