Civic Intelligence

Scago Educational Facilities for Spartanburg School District No 1

990 • Fiscal year 2016 • EIN 13-4323768

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 13, 2017

121 Wheeler StreetCampobello, SC 29322

(864) 472-2846

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

99th percentile

2.32x

Higher debt load relative to assets than 99% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2016

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

5th percentile

-18%

Faster asset growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$5,838,591

Down $1,318,053 (-18%) from 2015

Net Assets

Down

-$7,696,517

Down $570,575 (-8.0%) from 2015

Liabilities

Down

$13,535,108

Down $747,478 (-5.2%) from 2015

Revenue

Down

$0

Down $85,526 (-100%) from 2015

Expenses

Down

$570,575

Down $361,610 (-39%) from 2015

Net Income

Up

-$570,575

Up $276,084 (+33%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$10M$0-$10MAssets 2010: $16,311,863Liabilities 2010: $19,340,267Net Assets 2010: -$3,028,4042010Assets 2011: $15,308,880Liabilities 2011: $18,572,854Net Assets 2011: -$3,263,9742011Assets 2012: $13,389,910Liabilities 2012: $17,775,149Net Assets 2012: -$4,385,2392012Assets 2013: $11,705,872Liabilities 2013: $16,962,685Net Assets 2013: -$5,256,8132013Assets 2014: $9,820,010Liabilities 2014: $16,099,293Net Assets 2014: -$6,279,2832014Assets 2015: $7,156,644Liabilities 2015: $14,282,586Net Assets 2015: -$7,125,9422015Assets 2016: $5,838,591Liabilities 2016: $13,535,108Net Assets 2016: -$7,696,5172016Assets 2017: $5,793,852Liabilities 2017: $12,857,778Net Assets 2017: -$7,063,9262017Assets 2018: $5,747,311Liabilities 2018: $12,164,907Net Assets 2018: -$6,417,5962018

Highlighted filing

2016

Assets$5,838,591
Liabilities$13,535,108
Net Assets-$7,696,517

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2010: $954,8532010Expenses 2011: $929,8042011Expenses 2012: $1,207,6122012Expenses 2013: $957,2922013Revenue 2014: $85,766Expenses 2014: $790,974Net Income 2014: -$705,2082014Revenue 2015: $85,526Expenses 2015: $932,185Net Income 2015: -$846,6592015Revenue 2016: $0Expenses 2016: $570,575Net Income 2016: -$570,5752016Revenue 2017: $1,144,759Expenses 2017: $512,167Net Income 2017: $632,5922017Revenue 2018: $1,143,435Expenses 2018: $497,105Net Income 2018: $646,3302018

Highlighted filing

2016

Revenue$0
Expenses$570,575
Net Income-$570,575
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 13, 2017
Return Version
2015v3.0
Gross Receipts
$0
Mission and Program Overview

Mission

To finance the construction of educational facilities for the spartanburg school district one.

The corporation's primary activity is the financing and construction of educational facilities for the spartanburg school district no. 1.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$89,362$31,380▼ $57,982
Cash and Non-Interest-Bearing Accounts$1--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-7,125,942$-7,696,517▼ $570,575
Total Assets$7,156,644$5,838,591▼ $1,318,053
Other Assets Total$7,067,281$5,807,211▼ $1,260,070
Liabilities
Tax Exempt Bond Liabilities$13,515,000$12,880,000▼ $635,000
Other Liabilities$657,638$616,320▼ $41,318
Accounts Payable and Accrued Expenses$109,948$38,788▼ $71,160
Total Liabilities$14,282,586$13,535,108▼ $747,478
Net Assets / Fund Balance
Total Net Assets Fund Balance$-7,125,942$-7,696,517▼ $570,575
Total Liabilities and Net Assets / Fund Balance$7,156,644$5,838,591▼ $1,318,053

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$568,065--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Gelnn Stiegman JrPresident
Brantley ThomasVice President
Ron GardnerDirector
Laura MccrawSecretary
Melissa CampbellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-570,575
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$570,575
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$569,592--$569,592
Other Expenses$983--$983
Total Functional Expenses$570,575$0$0$570,575
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Bond Premiumm$616,320

Bond Issues

BondIssuerIssuedIssue PricePurpose
BScago Educational Facilities Corporation2006-05-25$13,955,571To finance construction of educational facilities
DScago Educational Facilities Corporation2015-04-23$13,544,524TO ADVANCE REFUND BONDS
AScago Educational Facilities Corporation 2006a2006-05-25$6,476,509TO ADVANCE REFUND BONDS
CScago Educational Facilities Corporation2015-04-23$634,030TO ADVANCE REFUND BONDS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$14,888,420--$370,200
D$13,544,524---
A$6,603,378-$634,030$109,790
C$634,030---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The south carolina association of governmental organizations (an organization exempt under section 501(c)(3) of the internal revenue service code of 1986, as amended) (hereinafter referred to as "scago") is the sole member of the corporation. Scago's exempt purpose is to lessen the burdens of governmental units in south carolina by assisting such governmental units in obtaining necessary financing.

Form 990, Part VI, Section A, Line 7A

The members of the board of directors are appointed by the board of directors of scago.

Form 990, Part VI, Section B, Line 11

The tax return is made available to members of the governing board prior to filing.

Form 990, Part VI, Section C, Line 19

The organization's governing documents and tax returns are available for review at the office of spartanburg county school district one located at 121 wheeler street, campobello, sc 29322.

Filing and Contact Details

Filer

Filer Name
Scago Educational Facilities for
EIN
13-4323768
Phone
8644722846
Address
121 WHEELER STREET, CAMPOBELLO, SC 29322

Signing Officer

Name
Donald J Denton
Title
Secretary
Phone
8644722846
Signed
2017-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald J Denton
Formed
2006
Legal Domicile
Sc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Mcabee Schwartz Halliday & Co
Address
824 EAST MAIN STREET, SPARTANBURG, SC 29302
Preparer
Homer E Mcabee Jr
Phone
8645830886
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RegulatorySafeHarborStsfdInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfGICPct09.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02006-05-25
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12006-05-25
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt22015-04-23
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt32015-04-23
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0134323768
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1134323768
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN2134323768
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN3134323768
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd2C
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd3D
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum080585FAJ0
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum180585FBC4
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum280585FBD2
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum3NONEAVAIL
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd11
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd20
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt06476509
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt113955571
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt2634030
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt313544524
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0SCAGO EDUCATIONAL FACILITIES CORPORATION 2006A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1SCAGO EDUCATIONAL FACILITIES CORPORATION
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt2SCAGO EDUCATIONAL FACILITIES CORPORATION
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt3SCAGO EDUCATIONAL FACILITIES CORPORATION
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd11
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd21
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd31
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd20
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0TO ADVANCE REFUND BONDS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1TO FINANCE CONSTRUCTION OF EDUCATIONAL FACILITIES
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc2TO ADVANCE REFUND BONDS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc3TO ADVANCE REFUND BONDS
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd1B
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd30
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd20
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd30
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd21
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd31
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondDefeasedAmt01068938
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondDefeasedAmt114617494
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd3D
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt011376980
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CreditEnhancementAmt085015
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CreditEnhancementAmt1262516
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd20
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd30
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd20
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd30
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0109790
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt1370200
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt0634030
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt113544524
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt0634030
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02008
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr12008
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt06603378
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt114888420
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt2634030
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt313544524
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOUTH CAROLINA ASSOCIATION OF GOVERNMENTAL ORGANIZATIONS (AN ORGANIZATION EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE SERVICE CODE OF 1986, AS AMENDED) (HEREINAFTER REFERRED TO AS "SCAGO") IS THE SOLE MEMBER OF THE CORPORATION. SCAGO'S EXEMPT PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENTAL UNITS IN SOUTH CAROLINA BY ASSISTING SUCH GOVERNMENTAL UNITS IN OBTAINING NECESSARY FINANCING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY THE BOARD OF DIRECTORS OF SCAGO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TAX RETURN IS MADE AVAILABLE TO MEMBERS OF THE GOVERNING BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS AND TAX RETURNS ARE AVAILABLE FOR REVIEW AT THE OFFICE OF SPARTANBURG COUNTY SCHOOL DISTRICT ONE LOCATED AT 121 WHEELER STREET, CAMPOBELLO, SC 29322.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19

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