2024-11-14T17:53:38-06:00 2023-12-31 ERNST & YOUNG US LLP 200 Clarendon Street BOSTON MA 021165072 990 2023-01-01 752549767 MSC SAND LAKE IV INC C/O WASHINGTON CAPITAL MANAGEMENT INC % ROBERT KOVECS MSCS 6175268800 260 FRANKLIN ST SUITE 1900 Boston MA 02110 RICHARD LEERET SENIOR VP 6175268800 2024-11-14 true true GEORGE F PAGANO P01978122 6172662000 2024-11-14 2023 2024-10-15 13:58:12Z RICHARD LEERET 260 FRANKLIN ST SUITE 1900 BOSTON MA 02210 3731718 false X www.wa-cap.com X 1997 DE SEE SCHEDULE O 3 3 0 0 0 0 0 0 0 0 0 0 1558291 1628217 1558291 1628217 0 0 0 0 0 0 0 0 0 0 0 0 0 1558291 1628217 34208353 35103148 13789285 13655862 20419068 21447286 HOLDING OF TITLE TO PROPERTY WITH NET INCOME TURNED OVER TO THE NORTH ATLANTIC STATES CARPENTERS GUARANTEED ANNUITY FUND AND NORTH ATLANTIC STATES CARPENTERS PENSION FUND, BOTH RELATED 501(A) ORGANIZATIONS. false false MSC Sand Lake IV, INC. (Sand Lake) was organized to acquire, own, and operate commercial real estate. Sand Lake's exclusive business activity is the rental of this property. Sand Lake's exclusive business purpose is to hold title to the property with net income turned over to the North Atlantic States Carpenters Guaranteed Annuity fund and North Atlantic States Carpenters Pension Fund. false false false false false false false false false true false false false true false false true false false false false false false false false false false false false false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false X 3 3 false true false false true true true true true false false false false false false false false false X ROBERT KOVECS 2063820825 1200 SIXTH AVENUE SUITE 700 SEATTLE WA 98101 X X RICHARD Leeret PRESIDENT 1.0 4.0 X X 0 0 0 ROBERT M KOVECS TREASURER/DIRECTOR 1.0 4.0 X X 0 0 0 JENNY GAGE VICE PRESIDENT & SECRETARY 1.0 4.0 X X 0 0 0 0 0 0 0 false false false 0 0 0 0 0 0 3656670 2103501 1553169 0 1553169 1553169 0 0 0 0 0 0 0 0 0 0 OTHER REVENUE 900099 75048 75048 75048 1628217 1628217 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55077 456466 0 0 89768 87349 0 0 0 0 0 0 0 0 78702 87186 34472147 33984806 34472147 0 0 0 0 0 0 0 0 0 0 34208353 35103148 173984 125737 0 0 27731 10449 0 0 0 0 0 0 13400000 13365527 0 0 187570 154149 13789285 13655862 X 0 0 0 0 20419068 21447286 20419068 21447286 34208353 35103148 X 1628217 -599999 X false true X true false 0 24136846 24136846 0 6255594 6255594 0 4079707 4079707 34472147 0 SECURITY DEPOSITS 154149 154149 X SCHEDULE D, PART X, LINE 2 FIN 48/ASC 740 FOOTNOTE THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION PRESCRIBED HOW AN ENTITY SHOULD RECOGNIZE, MEASURE, AND PRESENT IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN IN A TAX RETURN. THE PROGRAM CAN RECOGNIZE A TAX BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT A PARTICULAR TAX POSITION WILL BE SUSTAINED UPON EXAMINATION OR AUDIT. TO THE EXTENT THE "MORE-LIKELY-THAN-NOT" STANDARD HAS BEEN SATISFIED, THE BENEFIT ASSOCIATED WITH A TAX POSITION IS MEASURED AS THE LARGEST AMOUNT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED. THE PROGRAM HAS NOT TAKEN ANY TAX POSITIONS WHICH WOULD BE CLASSIFIED AS UNCERTAIN. ACCORDINGLY, NO RESERVES HAVE BEEN RECORDED. THE TAX YEARS 2021 TO 2023 ARE OPEN TAX YEARS FOR FEDERAL, AND FOR THE MAJORITY OF THE PROGRAM'S STATE JURISDICTIONS. FORM 990, PART 1, LINE 1 ORGANIZATION'S MISSION HOLDING OF TITLE TO PROPERTY WITH NET INCOME TURNED OVER TO THE North Atlantic States Carpenters Guaranteed Annuity Fund AND North Atlantic States Carpenters Pension Fund, BOTH RELATED 501(A) ORGANIZATIONS. FORM 990, PART VI, LINE 3 AND PART VII, SECTION A COMPENSATION FROM RELATED ORGANIZATIONS MSC SAND LAKE, INC. (THE "CORPORATION") IS OWNED 100% BY THE North Atlantic States Carpenters Guaranteed Annuity fund and North Atlantic States Carpenters Pension Fund (COLLECTIVELY "NAC"). NAC ENGAGED WASHINGTON CAPITAL MANAGEMENT (F/K/A GREAT POINT INVESTORS) TO MANAGE THE PROPERTIES THAT ARE OWNED BY THE CORPORATION. AS PART OF THIS ENGAGEMENT, SOME OF THE OFFICERS OF WASHINGTON CAPITAL MANAGEMENT WERE APPOINTED BY NAC TO SERVE AS OFFICERS OF THE CORPORATION, TO ALLOW THEM TO CONDUCT DAY TO DAY BUSINESS AND SEEK OUT INVESTMENT OPPORTUNITIES IN AN EFFICIENT MANNER ON BEHALF OF NAC. THOUGH THERE ARE MANY DECISIONS MADE BY THESE OFFICERS, NAC MUST APPROVE ALL MAJOR TRANSACTIONS. THESE TRANSACTIONS INCLUDE, BUT ARE NOT LIMITED TO, ACQUISITIONS, DISPOSITIONS AND REFINANCING OF THE ASSETS. NAC CHOOSES THE MANAGEMENT FIRM AND NEGOTIATES THE CONTRACTS WITH SUCH FIRM. THE CORPORATION IS SIMPLY INFORMED OF THE CHOICE AND BILLED ACCORDING TO THIS PRE-NEGOTIATED CONTRACT. THE OFFICERS OF THE CORPORATION DID NOT RECEIVE ANY COMPENSATION DIRECTLY FROM THE CORPORATION. THEIR COMPENSATION FROM WASHINGTON CAPITAL MANAGEMENT IS DETERMINED ENTIRELY WITHIN THE WASHINGTON CAPITAL MANAGEMENT STRUCTURE AND NOT BASED DIRECTLY UPON THE CONTRACT WITH NAC. WASHINGTON CAPITAL MANAGEMENT HAS MANY OTHER CLIENTS IN ADDITION TO NAC. FORM 990, PART VI, LINE 6 MEMBERS AND GOVERNING BODY North Atlantic States Carpenters Guaranteed Annuity fund and North Atlantic States Carpenters Pension Fund ARE THE MEMBERS AND EACH OWN 50% OF THE ORGANIZATION. FORM 990, PART VI, LINE 7A Election of Members of the Governing Body DIRECTORS SHALL BE ELECTED BY THE MEMBERS. FORM 990, PART VI, LINE 7B Approval of Governance decisions of the Organization THERE ARE SEVERAL MATTERS THAT REQUIRE APPROVAL BY THE MEMBERS, INCLUDING ACQUISITION, DISPOSITION AND REFINANCING OF PROPERTY. FORM 990, PART VI, LINE 11B PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990 THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO FILING. FORM 990, PART VI, LINE 19 AVAILABILITY OF GOVERNING DOCUMENTS THE ORGANIZATION DOES NOT MAKE THIS INFORMATION AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES TRANSFER TO TAX-EXEMPT PARENT: -$599,999 TOTAL: -$599,999 NAC Guaranteed Annuity Fund 350 Fordham Road Wilmington MA 01887 042776873 Gov't Plan MA N/A NA false NAC Pension Fund 350 Fordham Road Wilmington MA 01887 042305512 Gov't Plan MA N/A NA false false false false false false false false false false false false false false false false false false false