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Nonprofiteer
← SORRENTO INDUSTRIAL INC

Form 990 for tax year 2022

Filed by SORRENTO INDUSTRIAL INC.

Totals

Total revenue
$3,235,225
Total expenses
$426,543
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$3,466
Other revenue
$3,231,759
Total assets, end of year
$92,503,665
Total liabilities, end of year
$680,310
Net assets or fund balances, end of year
$91,823,355
Program services expenses (Part IX)
$0
Management and general expenses
$426,543
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $3,466 · excluded $3,466

  • 6a · Gross rents

    real property $3,974,648

  • 6b · Less rental expenses

    real property $742,889

  • 6c · Rental income or loss

    real property $3,231,759

  • 6d · Net rental income or loss

    total $3,231,759 · excluded $3,231,759

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $426,543 · management and general $426,543

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $593,341 · end of year $131,850

  • 4 · Accounts receivable

    beginning of year $49,894 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,721 · end of year $171,809

  • 10a · Land, buildings and equipment: cost or other basis

    $25,727,582

  • 10c · Land, buildings and equipment, net

    beginning of year $24,411,309 · end of year $25,727,582

  • 15 · Other assets

    beginning of year $71,888,697 · end of year $66,472,424

  • 17 · Accounts payable and accrued expenses

    beginning of year $659,553 · end of year $149,029

  • 19 · Deferred revenue

    beginning of year $30,437 · end of year $125,890

  • 25 · Other liabilities

    beginning of year $398,026 · end of year $405,391

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $20,763,654 · end of year $21,784,669

  • 31 · Retained earnings, endowment or other funds

    beginning of year $75,153,292 · end of year $70,038,686

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

TO OPERATE AS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(25) AND HOLD TITLE TO REAL PROPERTY ON BEHALF OF PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA.

  • SORRENTO INDUSTRIAL, INC. OPERATES AS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(25) AND HOLDS TITLE TO REAL PROPERTY ON BEHALF OF PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA (RETIREMENT SYSTEM). THE ORGANIZATION COLLECTS THE INCOME FROM THE PROPERTY AND REMITS IT TO THE RETIREMENT SYSTEM.

As filed on the 2022 return.

Listed in Part VII

  • R Scott Dennis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Beth Zayicek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Jason W Geer

    VP/SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Michael Kirby

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Bert J Crouch

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Lee Phegley

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Haley Waldron

    TREAS/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Chris Cleghorn

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Jackson Lapin

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Peter Feinberg

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Duncan Walker

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Kevin Pirozzoli

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Perry Chudnoff

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

  • Tom Hurst

    VP/ASST SEC

    Total calculated
    $0
    Hours/week
    1 + 23 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 1717 RIDGE APARTMENTS LLC

    REAL ESTATE · DE

    Directly controlled by PERS OF NV

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • URANIUM DRIVE ASSOCIATES LP

    REAL ESTATE · DE

  • EC OWNER 1 LP

    REAL ESTATE · DE

  • ANTHEM ON ASHLEY OWNER LP

    REAL ESTATE · DE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • EC OWNER GP 1 LLC

    C · REAL ESTATE · DE

  • URANIUM DRIVE ASSOCIATES GP LLC

    C · REAL ESTATE · DE

  • ANTHEM ON ASHLEY GP LLC

    C · REAL ESTATE · DE

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411359349313066

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