Civic Intelligence

Lexington One School Facilities Corporation

990 • Fiscal year 2014 • EIN 20-3682952

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 15, 2015

100 Tarrar Springs Road29072

(803) 821-1000

Siviq Scores

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

Liabilities / Assets

90th percentile

0.95x

Higher debt load relative to assets than 90% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

84th percentile

2.00x

Higher debt load relative to revenue than 84% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

13th percentile

-8.3%

Higher net margin than 13% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

10th percentile

-4.7%

Faster asset growth than 10% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$84,569,000

Down $4,211,813 (-4.7%) from 2013

Net Assets

Down

$3,939,000

Down $3,351,813 (-46%) from 2013

Liabilities

Down

$80,630,000

Down $860,000 (-1.1%) from 2013

Revenue

$40,226,782

No earlier filing loaded for comparison.

Expenses

Up

$43,578,595

Up $36,653,958 (+529%) from 2013

Net Income

-$3,351,813

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $6,895,846Liabilities 2011: $0Net Assets 2011: $6,895,8462011Assets 2012: $91,090,847Liabilities 2012: $84,195,000Net Assets 2012: $6,895,8472012Assets 2013: $88,780,813Liabilities 2013: $81,490,000Net Assets 2013: $7,290,8132013Assets 2014: $84,569,000Liabilities 2014: $80,630,000Net Assets 2014: $3,939,0002014Assets 2015: $73,036,272Liabilities 2015: $73,030,751Net Assets 2015: $5,5212015Assets 2016: $73,035,485Liabilities 2016: $69,970,000Net Assets 2016: $3,065,4852016Assets 2017: $73,030,000Liabilities 2017: $66,440,000Net Assets 2017: $6,590,0002017Assets 2018: $73,030,000Liabilities 2018: $62,785,000Net Assets 2018: $10,245,0002018Assets 2019: $73,030,000Liabilities 2019: $58,985,000Net Assets 2019: $14,045,0002019Assets 2020: $73,030,000Liabilities 2020: $55,035,000Net Assets 2020: $17,995,0002020Assets 2021: $73,030,000Liabilities 2021: $50,930,000Net Assets 2021: $22,100,0002021Assets 2022: $73,030,000Liabilities 2022: $46,660,000Net Assets 2022: $26,370,0002022Assets 2023: $73,030,000Liabilities 2023: $42,220,000Net Assets 2023: $30,810,0002023Assets 2024: $73,030,000Liabilities 2024: $37,605,000Net Assets 2024: $35,425,0002024

Highlighted filing

2014

Assets$84,569,000
Liabilities$80,630,000
Net Assets$3,939,000

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2011: $11,214,4192011Expenses 2012: $6,923,6082012Expenses 2013: $6,924,6372013Revenue 2014: $40,226,782Expenses 2014: $43,578,595Net Income 2014: -$3,351,8132014Revenue 2015: $49,704,420Expenses 2015: $53,637,899Net Income 2015: -$3,933,4792015Revenue 2016: $5,720,154Expenses 2016: $2,660,190Net Income 2016: $3,059,9642016Revenue 2017: $6,084,766Expenses 2017: $2,560,252Net Income 2017: $3,524,5142017Revenue 2018: $6,082,353Expenses 2018: $2,427,353Net Income 2018: $3,655,0002018Revenue 2019: $6,082,971Expenses 2019: $2,282,971Net Income 2019: $3,800,0002019Revenue 2020: $6,076,319Expenses 2020: $2,126,319Net Income 2020: $3,950,0002020Revenue 2021: $6,071,147Expenses 2021: $1,966,147Net Income 2021: $4,105,0002021Revenue 2022: $6,069,169Expenses 2022: $1,799,169Net Income 2022: $4,270,0002022Revenue 2023: $6,065,078Expenses 2023: $1,625,078Net Income 2023: $4,440,0002023Revenue 2024: $6,059,624Expenses 2024: $1,444,624Net Income 2024: $4,615,0002024

Highlighted filing

2014

Revenue$40,226,782
Expenses$43,578,595
Net Income-$3,351,813
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 15, 2015
Return Version
2013v4.0
Gross Receipts
$40,226,782
Mission and Program Overview

Mission

To acquire, construct, finance, pledge, improve, maintain, operate, manage, lease, and dispose of school buildings and other public education facilities for the use and benefit of lexington county school district one.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$81,490,000$80,630,000▼ $860,000
Investments Other Securities$7,290,813$3,939,000▼ $3,351,813
Total Assets$88,780,813$84,569,000▼ $4,211,813
Liabilities
Tax Exempt Bond Liabilities$81,490,000$80,630,000▼ $860,000
Total Liabilities$81,490,000$80,630,000▼ $860,000
Net Assets / Fund Balance
Temporarily Rstr Net Assets$7,290,813$3,939,000▼ $3,351,813
Total Net Assets Fund Balance$7,290,813$3,939,000▼ $3,351,813
Total Liabilities and Net Assets / Fund Balance$88,780,813$84,569,000▼ $4,211,813

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$80,630,000-$80,630,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Director
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$184,007
Other Revenue
$40,042,775
Change in Net Assets
$-3,351,813
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$43,578,595
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$3,225,970--$3,225,970
Other Expenses$2,710--$2,710
Total Functional Expenses$43,578,595$0$0$43,578,595
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
A20-36829522006-06-01$54,045,000Finance the cost of acquiring, constructing, and installing educational
B20-36829522013-07-02$35,350,000Installment purchase revenue refunding of installment purchase revenue

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$55,418,521-$8,765,000$554,363
B$35,350,000--$283,704

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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

The election of board members is established by the board of trustees of the lexington county school district one.

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

Copy of the form 990 will be reviewed by the board members and approved.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST

Filing and Contact Details

Filer

EIN
20-3682952
Phone
8038211000

Signing Officer

Name
John Butler CPA
Title
CFO-lcsd 1
Phone
8038211000
Signed
2015-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Butler CPA
Formed
2005
Legal Domicile
Sc
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Preparer
Larry D Montague Jr CPA
Phone
8037943712
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To acquire, construct, finance, pledge, improve, maintain, operate, manage, lease, and dispose of school buildings and other public education facilities for the use and benefit of lexington county school district one.

Raw XML Appendix391 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.

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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd1true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt051578240
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt03955750
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0554363
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt1283704
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt035066296
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt08765000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02011
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt055418521
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt135350000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ACQUIRE, CONSTRUCT, FINANCE, PLEDGE, IMPROVE, MAINTAIN, OPERATE, MANAGE, LEASE, AND DISPOSE OF SCHOOL BUILDINGS AND OTHER PUBLIC EDUCATION FACILITIES FOR THE USE AND BENEFIT OF LEXINGTON COUNTY SCHOOL DISTRICT ONE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ELECTION OF BOARD MEMBERS IS ESTABLISHED BY THE BOARD OF TRUSTEES OF THE LEXINGTON COUNTY SCHOOL DISTRICT ONE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPY OF THE FORM 990 WILL BE REVIEWED BY THE BOARD MEMBERS AND APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine10LCSD 1
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine20LCSD 1
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10LEXINGTON COUNTY SCHOOL DISTRICT 1
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine20LEXINGTON COUNTY SCHOOL DISTRICT 1
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0570670770
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine10100 TARRAR SPRINGS RD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine20100 TARRAR SPRINGS RD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0LEXINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode029072
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt081490000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt080630000
IRS990/TaxExemptBondsInd0true
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt07290813
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt03939000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt088780813
IRS990/TotalAssetsEOYAmt084569000
IRS990/TotalAssetsGrp/BOYAmt088780813
IRS990/TotalAssetsGrp/EOYAmt084569000
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt043578595
IRS990/TotalFunctionalExpensesGrp/TotalAmt043578595
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt081490000
IRS990/TotalLiabilitiesEOYAmt080630000
IRS990/TotalLiabilitiesGrp/BOYAmt081490000
IRS990/TotalLiabilitiesGrp/EOYAmt080630000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07290813
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03939000
IRS990/TotalProgramServiceExpensesAmt043578595
IRS990/TotalRevenueGrp/ExclusionAmt0184007
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt040042775
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt040226782
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt088780813
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt084569000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10100 TARRAR SPRINGS RD
IRS990/USAddress/City0LEXINGTON
IRS990/USAddress/State0SC
IRS990/USAddress/ZIPCode029072
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.LEXINGTON1.NET
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN BUTLER CPA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO-LCSD 1
ReturnHeader/BusinessOfficerGrp/PhoneNum08038211000
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-15
ReturnHeader/Filer/BusinessName/BusinessNameLine10LEXINGTON ONE SCHOOL FACILITIES
ReturnHeader/Filer/BusinessName/BusinessNameLine20CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0LEXI
ReturnHeader/Filer/EIN0203682952
ReturnHeader/Filer/PhoneNum08038211000
ReturnHeader/Filer/USAddress/AddressLine10100 TARRAR SPRINGS ROAD
ReturnHeader/Filer/USAddress/City0LEXINGTON
ReturnHeader/Filer/USAddress/State0SC
ReturnHeader/Filer/USAddress/ZIPCode029072
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570692602
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10BURKETT BURKETT & BURKETT CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO BOX 2044
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0WEST COLUMBIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode029171
ReturnHeader/PreparerPersonGrp/PhoneNum08037943712
ReturnHeader/PreparerPersonGrp/PreparationDt02015-01-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LARRY D MONTAGUE JR CPA
ReturnHeader/ReturnTs02015-01-13T15:02:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.0$37.6$35.4$6.06$1.44$4.62
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.0$42.2$30.8$6.07$1.63$4.44
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$46.7$26.4$6.07$1.80$4.27
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$50.9$22.1$6.07$1.97$4.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$55.0$18.0$6.08$2.13$3.95
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$59.0$14.0$6.08$2.28$3.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$62.8$10.2$6.08$2.43$3.66
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$66.4$6.59$6.08$2.56$3.52
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.0$70.0$3.07$5.72$2.66$3.06
2015Detailed filing. Detailed filing data is available for this year.$73.0$73.0$0.01$49.7$53.6$3.93
2014Detailed filing. Detailed filing data is available for this year.$84.6$80.6$3.94$40.2$43.6$3.35
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.8$81.5$7.29$6.92
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$91.1$84.2$6.90$6.92
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.90$0.00$6.90$11.2