Civic Intelligence

Scago Educational Facilities Corp

EIN 14-1984342 • 501(c)3 • Easley, SC

Profile

To finance, construct and renovate pickens county school district facilities.

1348 Griffin Mill RoadEasley, SC 29640

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

1.00x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

8.18x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

8th percentile

-8.2%

Faster asset growth than 8% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-0.0%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$163,346,709

Down $16,913,621 (-9.4%) from 2023

Liabilities

Down

$163,346,709

Down $16,913,621 (-9.4%) from 2023

Net Assets

Flat

$0

Flat from 2023

Operations
Liabilities / Revenue95th percentileNet Margin96th percentile

Revenue

Down

$22,027,045

Down $22,423 (-0.1%) from 2023

Expenses

Down

$5,504,115

Down $727,401 (-12%) from 2023

Net Income

Up

$16,522,930

Up $704,978 (+4.5%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth8th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800M$600M$400M$200M$0Assets 2010: $698,895,648Liabilities 2010: $346,614,411Net Assets 2010: $352,281,2372010Assets 2011: $700,108,567Liabilities 2011: $342,693,156Net Assets 2011: $357,415,4112011Assets 2012: $332,976,058Liabilities 2012: $332,976,058Net Assets 2012: $02012Assets 2013: $321,260,446Liabilities 2013: $321,260,446Net Assets 2013: $02013Assets 2014: $310,290,966Liabilities 2014: $310,290,966Net Assets 2014: $02014Assets 2015: $296,381,554Liabilities 2015: $296,381,554Net Assets 2015: $02015Assets 2016: $282,544,399Liabilities 2016: $282,544,399Net Assets 2016: $02016Assets 2017: $272,144,399Liabilities 2017: $272,144,399Net Assets 2017: $02017Assets 2018: $260,914,399Liabilities 2018: $260,914,399Net Assets 2018: $02018Assets 2019: $241,154,114Liabilities 2019: $241,154,114Net Assets 2019: $02019Assets 2020: $226,880,293Liabilities 2020: $226,880,293Net Assets 2020: $02020Assets 2021: $211,994,412Liabilities 2021: $211,994,412Net Assets 2021: $02021Assets 2022: $196,462,651Liabilities 2022: $196,462,651Net Assets 2022: $02022Assets 2023: $180,260,330Liabilities 2023: $180,260,330Net Assets 2023: $02023Assets 2024: $163,346,709Liabilities 2024: $163,346,709Net Assets 2024: $02024

Highlighted filing

2024

Assets$163,346,709
Liabilities$163,346,709
Net Assets$0
Open 2024 Filing

Operations Trend

Revenue Growth29th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0Revenue 2010: $31,928,157Expenses 2010: $16,464,275Net Income 2010: $15,463,8822010Expenses 2011: $16,407,4752011Expenses 2012: $16,220,6252012Expenses 2013: $15,857,5002013Revenue 2014: $15,387,625Expenses 2014: $15,387,625Net Income 2014: $02014Revenue 2015: $11,498,065Expenses 2015: $11,498,065Net Income 2015: $02015Revenue 2016: $12,159,823Expenses 2016: $12,159,823Net Income 2016: $02016Revenue 2017: $11,558,897Expenses 2017: $11,558,897Net Income 2017: $02017Revenue 2018: $11,010,943Expenses 2018: $11,010,943Net Income 2018: $02018Revenue 2019: $10,459,788Expenses 2019: $10,459,788Net Income 2019: $02019Revenue 2020: $9,846,670Expenses 2020: $9,846,670Net Income 2020: $02020Revenue 2021: $9,218,813Expenses 2021: $9,218,813Net Income 2021: $02021Revenue 2022: $22,059,661Expenses 2022: $6,928,345Net Income 2022: $15,131,3162022Revenue 2023: $22,049,468Expenses 2023: $6,231,516Net Income 2023: $15,817,9522023Revenue 2024: $22,027,045Expenses 2024: $5,504,115Net Income 2024: $16,522,9302024

Highlighted filing

2024

Revenue$22,027,045
Expenses$5,504,115
Net Income$16,522,930
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$163,346,709
Liabilities
$163,346,709
Net assets
$0
Revenue
$22,027,045
Expenses
$5,504,115
Net income
$16,522,930
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$163$163$0.00$22.0$5.50$16.5
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$180$180$0.00$22.0$6.23$15.8
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$196$196$0.00$22.1$6.93$15.1
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$212$212$0.00$9.22$9.22$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$227$227$0.00$9.85$9.85$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$241$241$0.00$10.5$10.5$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$261$261$0.00$11.0$11.0$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$272$272$0.00$11.6$11.6$0.00
2016Detailed filing. Detailed filing data is available for this year.$283$283$0.00$12.2$12.2$0.00
2015Detailed filing. Detailed filing data is available for this year.$296$296$0.00$11.5$11.5$0.00
2014Detailed filing. Detailed filing data is available for this year.$310$310$0.00$15.4$15.4$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$321$321$0.00$15.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$333$333$0.00$16.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$700$343$357$16.4
2010Summary only. Only limited summary data is available for this year.$699$347$352$31.9$16.5$15.5
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2018 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 30, 2019
Return Version
2017v2.3
Gross Receipts
$22,238,514
Mission and Program Overview

Mission

To serve as a support organization for capital projects of the school district of pickens county, sc including the financing, construction and renovation of district facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$308,433$306,000▼ $2,433
Accounts Receivable-$4-
Total Assets$272,144,399$260,914,399▼ $11,230,000
Other Assets Total$271,835,966$260,608,395▼ $11,227,571
Liabilities
Tax Exempt Bond Liabilities$238,920,000$227,690,000▼ $11,230,000
Other Liabilities$33,224,399$33,224,399→ $0
Total Liabilities$272,144,399$260,914,399▼ $11,230,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$272,144,399$260,914,399▼ $11,230,000

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$-401,740,741--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
Dr Brian SwordsChairman
Mrs Betty BagleyVice Chair
Dr Henry WilsonBoard Member
Mr Phillip BowersBoard Member
Mr Shannon HaskettBoard Member
Mrs Betty GarrisonSecretary
Dr Danny MerckSuperintende
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,988,430
Investment Income
$22,513
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,010,943
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$11,006,100--$11,006,100
Other Expenses$4,843--$4,843
Total Functional Expenses$11,010,943$0$0$11,010,943
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
Premium on Loan Amortized$33,224,399

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASeries 2015 Iprrb Efc Bonds2015-01-26$262,855,000PROCEEDS WERE USED FOR

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

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
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 reviewed by school district officers.”

Form 990, Page 6, Part VI, Line 19

“Available for review at school district offices.”

Filing and Contact Details

Filer

Filer Name
Scago Educational Facilities Corp
EIN
14-1984342
Phone
8643971049
Address
1348 GRIFFIN MILL ROAD, EASLEY, SC 29640

Signing Officer

Name
Dr Danny Merck
Title
Superintendent
Phone
8643971049
Signed
2019-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Brian Swords
Formed
2006
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Greene Finney Llp
Address
211 EAST BUTLER ROAD STE C-6, MAULDIN, SC 29662
Preparer
Susan Denise Eidson CPA
Phone
8644517381
Raw XML Appendix353 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum08643971049
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd029640
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IRS990/ConsolidatedAuditFinclStmtInd0true
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt022513
IRS990/CYOtherExpensesAmt011010943
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt010988430
IRS990/CYRevenuesLessExpensesAmt00
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt011010943
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IRS990/EmployeeCnt00
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IRS990/ExpenseAmt011010943
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IRS990/ForeignFinancialAccountInd0false
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.01
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.01
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.01
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.01
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/PersonNm1MR SHANNON HASKETT
IRS990/Form990PartVIISectionAGrp/PersonNm2DR HENRY WILSON
IRS990/Form990PartVIISectionAGrp/PersonNm3MRS BETTY GARRISON
IRS990/Form990PartVIISectionAGrp/PersonNm4MRS BETTY BAGLEY
IRS990/Form990PartVIISectionAGrp/PersonNm5MR PHILLIP BOWERS
IRS990/Form990PartVIISectionAGrp/PersonNm6DR DANNY MERCK
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6SUPERINTENDE
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02006
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt011227571
IRS990/GrossReceiptsAmt022238514
IRS990/GroupReturnForAffiliatesInd0false
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IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt06
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/ProgramServicesAmt011006100
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IRS990/IRPDocumentCnt00
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MethodOfAccountingAccrualInd0X
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IRS990/NetAssetsOrFundBalancesEOYAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
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IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherWebsiteInd0X
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IRS990/PrincipalOfficerNm0DR BRIAN SWORDS
IRS990/ProfessionalFundraisingInd0false
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IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd0true
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd0true
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ORGANIZATION INCORPORATED FOR THE SPECIFIC CHARITABLE PURPOSE OF SERVING AS A SUPPORT ORGANIZATION FOR CAPITAL PROJECTS OF THE SCHOOL DISTRICT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1EDUCATIONAL FACILITIES CORPORATION ACCOUNTS FOR THE ACTIVITY ASSOCIATED WITH FINANCING THE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF NEW SCHOOL FACILITIES FOR THE SCHOOL DISTRICT OF PICKENS, SC THROUGH PROCEEDS OF INSTALLMENT PURCHASE REVENUE BONDS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1-401740741
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION FOR PDSD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TRANSFERRED TO PCSD
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREMIUM ON LOAN AMORTIZED
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IRS990ScheduleD/TotalLiabilityAmt033224399
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0SERIES 2015 IPRRB EFC BONDS THE ACQUISITION,CONSTRUCTION AND EQUIPPING OF NEW SCHOOL FACILITIES FOR THE SCHOOL DISTRICT OF PICKENS, SC, INCLUDING ADDITIONS AND RENOVATIONS TO THE DISTRICT'S EXISTING FACILITIES.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE K - PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PROCEEDS WERE USED FOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 REVIEWED BY SCHOOL DISTRICT OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE FOR REVIEW AT SCHOOL DISTRICT OFFICES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/TotalAmt011010943
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IRS990/TotalLiabilitiesEOYAmt0260914399
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IRS990/TotalProgramServiceRevenueAmt010988430
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010988430
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011010943
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0272144399
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0260914399
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DR DANNY MERCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SUPERINTENDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08643971049
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SCAGO EDUCATIONAL FACILITIES CORP
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOR PICKENS COUNTY SCHOOL DISTRICT
ReturnHeader/Filer/BusinessNameControlTxt0SCAG
ReturnHeader/Filer/EIN0141984342
ReturnHeader/Filer/PhoneNum08643971049
ReturnHeader/Filer/USAddress/AddressLine1Txt01348 GRIFFIN MILL ROAD
ReturnHeader/Filer/USAddress/CityNm0EASLEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029640
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CC70CB69349788BAE73736E6F3617F7207F5C4F9
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId031B790AA375F2D2E18DF29AB54BFF46998C28841
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-05-02
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm016:05:50
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0522212837
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GREENE FINNEY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0211 EAST BUTLER ROAD STE C-6
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MAULDIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029662
ReturnHeader/PreparerPersonGrp/PhoneNum08644517381
ReturnHeader/PreparerPersonGrp/PreparationDt02019-04-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN DENISE EIDSON CPA
ReturnHeader/ReturnTs02019-05-02T16:05:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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