Flying Cloud Office Inc: Form 990, tax year 2015

View the entire original 990 at ProPublica ↗

Organization: Flying Cloud Office Inc (EIN 20-5665194)
Tax period: 2015-07-01 to 2016-06-30
Filed: 2017-02-01
IRS object ID: 201720329349300122
Schema version: 2015v3.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule N
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2017-02-01T09:49:48-06:00	ReturnTs
Tax Period End	2016-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	KPMG LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	3001 Summer Street	AddressLine1Txt
City	Stamford	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	06905	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2015-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	205665194	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Flying Cloud Office Inc	BusinessNameLine1Txt
Business Name Line2	C/O BARINGS REAL ESTATE ADVISERS LLC	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
In Care Of	% BARINGS RE ADVISERS LLC	InCareOfNm
Business Name Control	FLYI	BusinessNameControlTxt
Phone	8605092200	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	ONE FINANCIAL PLAZA SUITE 1700	AddressLine1Txt
City	HARTFORD	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	06103	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	RYAN CROSSLEY	PersonNm
Person Title	Director	PersonTitleTxt
Signature	2017-01-25	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Lawrence A Ciccarelli III	PreparerPersonNm
PTIN	P00851332	PTIN
Phone	2033569800	PhoneNum
Preparation	2017-01-24	PreparationDt

Field	Value	IRS element (for citing)
Tax	2015	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	CJ Karbowicz	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	ONE FINANCIAL PLAZA SUITE 1700	AddressLine1Txt
City	HARTFORD	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	06103	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$28,689,500	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	N/A	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2004	FormationYr
Legal Domicile State	DE	LegalDomicileStateCd
Activity Or Mission	TO ACQUIRE AND HOLD TITLE TO REAL PROPERTY, COLLECT THE INCOME THEREFROM AND REMIT THE ENTIRE AMOUNT, LESS EXPENSES, FOR THE BENEFIT OF ITS PARENT ORGANIZATION, SCERS.	ActivityOrMissionDesc
Contract Termination	Yes (X)	ContractTerminationInd
Voting Members Governing Body	1	VotingMembersGoverningBodyCnt
Voting Members Independent	0	VotingMembersIndependentCnt
Total Employee	0	TotalEmployeeCnt
Total Gross UBI	$0	TotalGrossUBIAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$4,054,853	PYProgramServiceRevenueAmt
CY Program Service Revenue	$3,272,649	CYProgramServiceRevenueAmt
PY Investment Income	$2,182	PYInvestmentIncomeAmt
CY Investment Income	-$16,125,346	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$4,057,035	PYTotalRevenueAmt
CY Total Revenue	-$12,852,697	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$0	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$0	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$2,467,710	PYOtherExpensesAmt
CY Other Expenses	$2,012,662	CYOtherExpensesAmt
PY Total Expenses	$2,467,710	PYTotalExpensesAmt
CY Total Expenses	$2,012,662	CYTotalExpensesAmt
PY Revenues Less Expenses	$1,589,325	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$14,865,359	CYRevenuesLessExpensesAmt
Total Assets BOY	$30,072,273	TotalAssetsBOYAmt
Total Assets EOY	$185,551	TotalAssetsEOYAmt
Total Liabilities BOY	$437,631	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$101,615	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$29,634,642	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$83,936	NetAssetsOrFundBalancesEOYAmt
Mission	THE ORGANIZATION'S MISSION IS TO ACQUIRE AND HOLD TITLE TO REAL PROPERTY, COLLECT THE INCOME THEREFROM AND REMIT THE ENTIRE AMOUNT, LESS EXPENSES, FOR THE BENEFIT OF ITS PARENT ORGANIZATION, SACRAMENTO COUNTY EMPLOYEES RETIREMENT SYSTEM.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Desc	THE ORGANIZATION ACQUIRED AND HELD TITLE TO REAL PROPERTY, COLLECTED INCOME THEREFROM AND REMITTED THE ENTIRE AMOUNT, LESS EXPENSES, TO ITS OWNER- SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM.	Desc
Described In Section501c3	false	DescribedInSection501c3Ind
Schedule B Required	false	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Temp Or Permanent Endowments	false	TempOrPermanentEndowmentsInd
Report Land Building Equipment	false	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	false	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	Yes (true)	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	GrantsToOrganizationsInd
Grants To Individuals	false	GrantsToIndividualsInd
Schedule J Required	false	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	false	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	Yes (true)	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	Yes (true)	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	17	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	0	EmployeeCnt
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	1	GoverningBodyVotingMembersCnt
Independent Voting Member	0	IndependentVotingMemberCnt
Family Or Business Rln	Yes (true)	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	Yes (true)	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (true)	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (true)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	false	ConflictOfInterestPolicyInd
Whistleblower Policy	false	WhistleblowerPolicyInd
Document Retention Policy	false	DocumentRetentionPolicyInd
Compensation Process CEO	false	CompensationProcessCEOInd
Compensation Process Other	false	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	BARINGS RE ADVISERS LLC	PersonNm
Phone	8605092200	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	ONE FINANCIAL PLAZA	AddressLine1Txt
City	HARTFORD	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	06103	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp

Field	Value	IRS element (for citing)
Person	BARINGS REAL ESTATE	PersonNm
Title	ADVISERS, LLC	TitleTxt
Institutional Trustee	Yes (X)	InstitutionalTrusteeInd
Reportable Comp From Org	$147,543	ReportableCompFromOrgAmt
Reportable Comp From Rltd Org	$584,893	ReportableCompFromRltdOrgAmt
Other Compensation	$0	OtherCompensationAmt

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$147,543	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$584,893	TotReportableCompRltdOrgAmt
Total Other Compensation	$0	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	1	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	false	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
GREINER CONSTRUCTION INC
625 MARQUETTE AVE S STE 840	MINNEAPOLIS	MN	55402	TI	$495,694
HENNEPIN COUNTY TREASURER
A600 GOVERNMENT CENTER	MINNEAPOLIS	MN	55437	TAXES	$433,717
RYAN COMPANIES US INC
50 S 10TH STREET	MINNEAPOLIS	MN	55403	FEES	$305,582
XCEL ENERGY
PO BOX 9477	MINNEAPOLIS	MN	55484	ENERGY FEES	$295,160
HARVARD MAINTENANCE INC
59 MAIDEN LANE	NEW YORK	NY	10038	MAINTENANCE FEES	$171,857

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	5	CntrctRcvdGreaterThan100KCnt
Total Contributions	$0	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	GROSS RENTAL REVENUE	Desc
Business	531120	BusinessCd
Total Revenue Column	$3,272,649	TotalRevenueColumnAmt
Related Or Exempt Func Income	$3,272,649	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$3,272,649	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,389	TotalRevenueColumnAmt
Exclusion	$1,389	ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt
Personal	$0	PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Other	$25,415,462	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Other	$41,542,197	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Other	-$16,126,735	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$16,126,735	TotalRevenueColumnAmt
Exclusion	-$16,126,735	ExclusionAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Net Income From Gaming NetIncomeFromGamingGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$0	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$12,852,697	TotalRevenueColumnAmt
Related Or Exempt Func Income	$3,272,649	RelatedOrExemptFuncIncomeAmt
Exclusion	-$16,125,346	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$119,223	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$31,485	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$21,410	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
TAXES	$694,672
CLEANING, MAINTENANCE & REPAIR	$548,827
UTILITIES	$290,157
ADVISORY FEE	$147,543

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$159,345	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$2,012,662	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$1,025,048	BOYAmt
EOY	$171,632	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$44,137	BOYAmt
EOY	$13,919	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$3,088	BOYAmt
EOY	$0	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$0	LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$28,950,392	BOYAmt
EOY	$0	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$30,072,273	BOYAmt
EOY	$185,551	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$71,878	BOYAmt
EOY	$53,979	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$36,948	BOYAmt
EOY	$0	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$328,805	BOYAmt
EOY	$47,636	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$437,631	BOYAmt
EOY	$101,615	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow SFAS117	Yes (X)	OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$32,421,157	BOYAmt
EOY	$32,561,503	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	-$2,786,515	BOYAmt
EOY	-$32,477,567	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$29,634,642	BOYAmt
EOY	$83,936	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$30,072,273	BOYAmt
EOY	$185,551	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	-$14,865,359	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$11,999,307	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	-$26,684,654	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Consolidated Basis Fincl Stmt	Yes (X)	ConsolidatedBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (true)	AuditCommitteeInd
Federal Grant Audit Required	false	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Art Public Exhibition Amounts		ArtPublicExhibitionAmountsGrp
Held Works Art		HeldWorksArtGrp
CY Minus3 Yr Endwmt Fund		CYMinus3YrEndwmtFundGrp
CY Minus4 Yr Endwmt Fund		CYMinus4YrEndwmtFundGrp
Land		LandGrp
Buildings		BuildingsGrp
Leasehold Improvements		LeaseholdImprovementsGrp
Equipment		EquipmentGrp
Other Land Buildings		OtherLandBuildingsGrp
Federal Income Tax Liability	$0	FederalIncomeTaxLiabilityAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
OTHER LIABILITIES	$47,482
TAXES PAYABLE	$154

Field	Value	IRS element (for citing)
Total Liability	$47,636	TotalLiabilityAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART X	FormAndLineReferenceDesc
Explanation	Accounting Standards Codification ("ASC") 740, Income Taxes, provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC 740 requires the evaluation of tax positions taken in the course of preparing the Portfolio's tax returns to determine whether tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as tax expense in the current year. The Portfolio adopted ASC 740 and applies it to all open tax years as of the effective date. Open tax years consist of 2012 forward as the statutes generally provide for three open years from the return due date.	ExplanationTxt

Schedule N IRS990ScheduleN

Field	Value	IRS element (for citing)
Liquidation Of Assets Table		LiquidationOfAssetsTableGrp

Disposition Of Assets Detail DispositionOfAssetsDetail

Field	Value	IRS element (for citing)
Assets Distri Or Expnss Paid	Cash Distribution	AssetsDistriOrExpnssPaidDesc
Distribution	2016-04-15	DistributionDt
Fair Market Value Of Asset	$25,415,462	FairMarketValueOfAssetAmt
Method Of FMV Determination	Proceeds from Bld Sale	MethodOfFMVDeterminationTxt
EIN	946000529	EIN
Person	SACREMENTO COUNTY EMPLOYEE'S RET SY	PersonNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	ONE FINANCIAL PLAZA SUITE 1700	AddressLine1Txt
City	HARTFORD	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	06103	ZIPCd

Field	Value	IRS element (for citing)
IRC Section	Government	IRCSectionTxt

Field	Value	IRS element (for citing)
Director Of Successor2	false	DirectorOfSuccessor2Ind
Employee Of Successor2	false	EmployeeOfSuccessor2Ind
Owner Of Successor2	false	OwnerOfSuccessor2Ind
Receive Compensation2	false	ReceiveCompensation2Ind

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (12 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART VI, SECTION A, QUESTION 2	BARINGS REAL ESTATE ADVISERS LLC ("BARINGS") MANAGES FLYING CLOUD OFFICE, INC. ON BEHALF OF THE SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM ("SCERS"). BARINGS PROVIDES INVESTMENT ADVISORY SERVICES TO SCERS IN CONNECTION WITH THE PORTFOLIO.
PART VI, SECTION A, QUESTION 3	SACRAMENTO COUNTY EMPLOYEES' RETIREMENT BOARD HAS HIRED BARINGS REAL ESTATE ADVISERS LLC AS INVESTMENT ADVISOR TO MANAGE THE ENTITY, WHICH INCLUDES THE AUTHORITY TO INVEST THE ASSETS OF THE ENTITY IN REAL PROPERTY, DISPOSE OF PROPERTIES, AND MANAGE THE DAY TO DAY OPERATIONS OF THE ENTITY.
PART VI, SECTION A, QUESTION 6	THE SOLE SHAREHOLDER OF FLYING CLOUD OFFICE, INC. IS THE SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM ("SCERS"). THE SHAREHOLDERS OF SCERS ARE PENSION TRUSTS DESCRIBED IN, AND EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 401 AND 501 OF THE INTERNAL REVENUE CODE.
PART VI, SECTION A, QUESTION 7B	THE BUSINESS OF THE CORPORATION SHALL BE MANAGED BY ITS INVESTMENT ADVISOR. ALL DECISIONS MADE BY THE INVESTMENT ADVISOR ARE AUTHORIZED BY THE STOCKHOLDERS.
SCHEDULE VI, SECTION B, QUESTION 11	THE TAX RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND PROVIDED TO THE ASSISTANT TREASURER FOR REVIEW. A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS BEFORE FILING.
PART VI, SECTION B, QUESTIONS 12, 13 & 14	THERE ARE NO SEPARATE WRITTEN POLICIES FOR FLYING CLOUD OFFICE, INC. HOWEVER, THE MEMBERS OF THE GOVERNING BODY ARE EMPLOYEES OF THE MANAGEMENT COMPANY, BARINGS REAL ESTATE ADVISERS LLC, AND ARE SUBJECT TO THE CONFLICT OF INTEREST AND OTHER POLICIES OF THE MANAGEMENT COMPANY. ANNUALLY, THE BARINGS COMPLIANCE OFFICER CONFIRMS OFFICER COMPLIANCE WITH THESE POLICIES.
PART VI, SECTION C, QUESTION 19	INFORMATION ABOUT THE ORGANIZATION'S INVESTMENT PROGRAMS, GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC.
PART X, LINE 10B AND SCH D, PART VI	THE INVESTMENTS IN LAND AND BUILDING ARE RECORDED AT FAIR VALUE ON THE TRIAL BALANCE. THE BALANCE SHEET IS NOT ADJUSTED TO REFLECT HISTORICAL COST LESS ACCUMULATED DEPRECIATION. THE AMOUNT OF ANY CURRENT CHANGE IN UNREALIZED APPRECIATION/DEPRECIATION IS NOT INCLUDED FOR TAX PURPOSES IN THE STATEMENT OF REVENUE AND EXPENSES.
FORM 990, PART XI - RECONCILIATION OF NET ASSETS	CONTRIBUTIONS FROM SCERS 140,346 DISTRIBUTION FROM SCERS (26,825,000) _____________ OTHER CHANGE IN NET ASSETS (26,684,654)
PART XI, QUESTION 2B	THERE ARE NO SEPARATE AUDITED FINANCIAL STATEMENTS FOR FLYING CLOUD OFFICE, INC. HOWEVER, THE INVESTMENT IN FLYING CLOUD OFFICE, INC. IS AUDITED AS PART OF THE COMBINED FINANCIAL STATEMENTS FOR THE SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM.
PART XII, QUESTION 2C	BARINGS REAL ESTATE ADVISERS, LLC AS ADVISOR FOR SCERS IS RESPONSIBLE FOR THE OVERSIGHT AND REVIEW OF ITS CONSOLIDATED AUDITED FINANCIAL STATEMENTS WHICH INCLUDES FLYING CLOUD OFFICE, INC.
SCHEDULE R	AS THE INSTITUTIONAL TRUSTEE ENGAGED TO MANAGE CERTAIN PROPERTIES OF SCERS, AND RESPONSIBLE FOR THE FILING OF THIS RETURN, WE ARE LISTING THE ENTITIES THAT WE KNOW OF, THAT WE ALSO MANAGE. WE DO NOT HAVE DIRECT KNOWLEDGE OF THE SCERS OTHER INVESTMENT HOLDING ENTITIES THAT MIGHT BE CONSIDERED BROTHER/SISTER ENTITIES TO THIS TAXPAYER, NOR DO WE HAVE ACCESS TO THIS INFORMATION SUFFICIENT TO INCLUDE THEM ON SCHEDULE R.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (4 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Exempt Code SectionExemptCodeSectionTxt	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Controlled OrganizationControlledOrganizationInd
SACRAMENTO COUNTY EMPLOYEES' RET SYSTEM
ONE FINANCIAL PLAZA STE 1700	HARTFORD	CT	06103	946000529	RETIREMENT	CA	401A	NA	false
SALT PONT CORPORATION
ONE FINANCIAL PLAZA STE 1700	HARTFORD	CT	06103	201284549	TITLE HOLDING	DE	501(C)(25)	SCERS	false
CRESCENT PARK CORPORATION
ONE FINANCIAL PLAZA STE 1700	HARTFORD	CT	06103	203823914	TITLE HOLDING	DE	501(C)(25)	SCERS	false
DB GATEWAY CORPORATE INC
ONE FINANCIAL PLAZA STE 1700	HARTFORD	CT	06103	510660464	TITLE HOLDING	DE	501(C)(25)	SCERS	false

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	false	ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org	false	GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org	false	GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org	false	LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org	false	LoansOrGuaranteesFromOthOrgInd
Asset Sale To Other Org	false	AssetSaleToOtherOrgInd
Asset Purchase From Other Org	false	AssetPurchaseFromOtherOrgInd
Asset Exchange	false	AssetExchangeInd
Rental Of Facilities To Oth Org	false	RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org	false	RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org	false	PerformOfServicesForOthOrgInd
Perform Of Services By Other Org	false	PerformOfServicesByOtherOrgInd
Sharing Of Facilities	false	SharingOfFacilitiesInd
Paid Employees Sharing	false	PaidEmployeesSharingInd
Reimbursement Paid To Other Org	false	ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org	false	ReimbursementPaidByOtherOrgInd
Transfer To Other Org	Yes (true)	TransferToOtherOrgInd
Transfer From Other Org	Yes (true)	TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (2 entries)

Transaction TypeTransactionTypeTxt	InvolvedInvolvedAmt	Method Of Amount DeterminationMethodOfAmountDeterminationTxt
SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYS
R	$26,825,000	CASHFLOWS
SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYS
S	$140,346	CASHFLOWS