Civic Intelligence

Scago Educational Facilities Corporation Spartanburg School District No 5

990 • Fiscal year 2014 • EIN 20-3746128

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 10, 2014

Organization ProfileN/A
100 North Danzler Road29334

(864) 949-2350

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

21.97x

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

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

Net Margin

29th percentile

0.0%

Higher net margin than 29% 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

3rd percentile

-16%

Faster asset growth than 3% of similar nonprofits.

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

Revenue Growth

13th percentile

-15%

Faster revenue growth than 13% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$59,233,397

Down $11,640,307 (-16%) from 2013

Net Assets

Flat

$0

Flat from 2013

Liabilities

Down

$59,233,397

Down $11,640,307 (-16%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin29th percentile

Revenue

$2,695,942

No earlier filing loaded for comparison.

Expenses

Down

$2,695,942

Down $795,434 (-23%) from 2013

Net Income

$0

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$100M$50M$0Assets 2011: $86,748,011Liabilities 2011: $86,748,011Net Assets 2011: $02011Assets 2012: $77,122,322Liabilities 2012: $77,122,322Net Assets 2012: $02012Assets 2013: $70,873,704Liabilities 2013: $70,873,704Net Assets 2013: $02013Assets 2014: $59,233,397Liabilities 2014: $59,233,397Net Assets 2014: $02014Assets 2015: $51,315,243Liabilities 2015: $51,315,243Net Assets 2015: $02015Assets 2016: $46,742,648Liabilities 2016: $46,742,648Net Assets 2016: $02016Assets 2017: $39,911,001Liabilities 2017: $39,911,001Net Assets 2017: $02017Assets 2018: $32,133,479Liabilities 2018: $32,133,479Net Assets 2018: $02018Assets 2019: $24,605,875Liabilities 2019: $24,605,875Net Assets 2019: $02019Assets 2020: $16,923,214Liabilities 2020: $16,923,214Net Assets 2020: $02020Assets 2021: $9,085,092Liabilities 2021: $9,085,092Net Assets 2021: $02021Assets 2022: $21,956Liabilities 2022: $21,953Net Assets 2022: $32022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2014

Assets$59,233,397
Liabilities$59,233,397
Net Assets$0
Open 2014 Filing

Operations Trend

Revenue Growth13th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2011: $3,828,912Expenses 2011: $3,828,912Net Income 2011: $02011Revenue 2012: $3,689,296Expenses 2012: $3,689,296Net Income 2012: $02012Expenses 2013: $3,491,3762013Revenue 2014: $2,695,942Expenses 2014: $2,695,942Net Income 2014: $02014Revenue 2015: $1,668,928Expenses 2015: $1,668,928Net Income 2015: $02015Revenue 2016: $1,506,301Expenses 2016: $1,506,301Net Income 2016: $02016Revenue 2017: $1,407,177Expenses 2017: $1,407,177Net Income 2017: $02017Revenue 2018: $1,260,470Expenses 2018: $1,260,470Net Income 2018: $02018Revenue 2019: $1,110,511Expenses 2019: $1,110,511Net Income 2019: $02019Revenue 2020: $957,798Expenses 2020: $957,798Net Income 2020: $02020Revenue 2021: $801,840Expenses 2021: $801,840Net Income 2021: $02021Revenue 2022: $563,108Expenses 2022: $563,105Net Income 2022: $32022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023

Highlighted filing

2014

Revenue$2,695,942
Expenses$2,695,942
Net Income$0
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 10, 2014
Return Version
2013v3.0
Gross Receipts
$10,595,942
Mission and Program Overview

Mission

The corporation's primary activity is the finanicing of the acquisition of real and personal property for school district no. 5 of spartanburg county, south carolina through the issuance of bonds.

The corporation's primary activity is the financing of the acquisition of real and personal property for school district no. 5 of spartanburg county, south carolina through the issuance of bonds

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$8,192,388$23,748▼ $8,168,640
Cash and Non-Interest-Bearing Accounts$4$3▼ $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$0$0→ $0
Total Assets$70,873,704$59,233,397▼ $11,640,307
Other Assets Total$62,681,312$59,209,646▼ $3,471,666
Liabilities
Tax Exempt Bond Liabilities$70,056,201$59,135,000▼ $10,921,201
Other Liabilities$817,503$98,397▼ $719,106
Total Liabilities$70,873,704$59,233,397▼ $11,640,307
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$70,873,704$59,233,397▼ $11,640,307

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,206,497--
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
Glenn StiegmanPresident
Brantley ThomasVice President
Scott TurnerDirector
David HayesSecretary
Melissa CampbellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,820,658
Investment Income
$875,284
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,695,942
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$2,164,048--$2,164,048
Fees for Services Legal$526,772--$526,772
Insurance$5,122--$5,122
Total Functional Expenses$2,695,942$0$0$2,695,942
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
Accrued Interest Payable$98,397

Bond Issues

BondIssuerIssuedIssue PricePurpose
A20-37461282005-12-14$79,000,000Scago installment purchase
B20-37461282013-09-16$66,000,000Installment purchase refunding

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$66,000,000--$520,612
B----

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
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 2

“Scott turner / david hayes business relationship”

Form 990, Part VI, Section B, Line 11

“Tax return reviewed by secretary of board.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and tax returns are available for review at the offices of spartanburg county school district no. 5, 100 n. Danzler rd., duncan, sc, monday through friday between the hours of 8:00am and 4:00pm.”

Filing and Contact Details

Filer

EIN
20-3746128
Phone
8649492350

Signing Officer

Name
David Hayes
Title
Secretary
Phone
8649492350
Signed
2014-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Hayes
Formed
2006
Legal Domicile
Sc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Preparer
Homer E Mcabee Jr
Phone
8645830886
Raw XML Appendix381 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/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondDefeasedAmt062220000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0520612
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt066000000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt066000000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SCOTT TURNER / DAVID HAYES BUSINESS RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TAX RETURN REVIEWED BY SECRETARY OF BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND TAX RETURNS ARE AVAILABLE FOR REVIEW AT THE OFFICES OF SPARTANBURG COUNTY SCHOOL DISTRICT NO. 5, 100 N. DANZLER RD., DUNCAN, SC, MONDAY THROUGH FRIDAY BETWEEN THE HOURS OF 8:00AM AND 4:00PM.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt070056201
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt059135000
IRS990/TaxExemptBondsInd01
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt070873704
IRS990/TotalAssetsEOYAmt059233397
IRS990/TotalAssetsGrp/BOYAmt070873704
IRS990/TotalAssetsGrp/EOYAmt059233397
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02695942
IRS990/TotalFunctionalExpensesGrp/TotalAmt02695942
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt070873704
IRS990/TotalLiabilitiesEOYAmt059233397
IRS990/TotalLiabilitiesGrp/BOYAmt070873704
IRS990/TotalLiabilitiesGrp/EOYAmt059233397
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02695942
IRS990/TotalProgramServiceRevenueAmt01820658
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02695942
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02695942
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt070873704
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt059233397
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10100 N DANZLER RD
IRS990/USAddress/City0DUNCAN
IRS990/USAddress/State0SC
IRS990/USAddress/ZIPCode029334
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID HAYES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum08649492350
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-10-10
ReturnHeader/Filer/BusinessName/BusinessNameLine10SCAGO EDUCATIONAL FACILITIES CORPORATION
ReturnHeader/Filer/BusinessName/BusinessNameLine20SPARTANBURG SCHOOL DISTRICT NO 5
ReturnHeader/Filer/BusinessNameControlTxt0SCAG
ReturnHeader/Filer/EIN0203746128
ReturnHeader/Filer/PhoneNum08649492350
ReturnHeader/Filer/USAddress/AddressLine10100 NORTH DANZLER ROAD
ReturnHeader/Filer/USAddress/City0DUNCAN
ReturnHeader/Filer/USAddress/State0SC
ReturnHeader/Filer/USAddress/ZIPCode029334
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570925346
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10MCABEE SCHWARTZ HALLIDAY & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10824 EAST MAIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0SPARTANBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode029302
ReturnHeader/PreparerPersonGrp/PhoneNum08645830886
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOMER E MCABEE JR
ReturnHeader/ReturnTs02014-10-15T14:34:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$59,233,397
Liabilities
$59,233,397
Net assets
$0
Revenue
$2,695,942
Expenses
$2,695,942
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.02$0.02$0.00$0.56$0.56$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.09$9.09$0.00$0.80$0.80$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.9$16.9$0.00$0.96$0.96$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.6$24.6$0.00$1.11$1.11$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.1$32.1$0.00$1.26$1.26$0.00
2017Summary only. Only limited summary data is available for this year.$39.9$39.9$0.00$1.41$1.41$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.7$46.7$0.00$1.51$1.51$0.00
2015Detailed filing. Detailed filing data is available for this year.$51.3$51.3$0.00$1.67$1.67$0.00
2014Detailed filing. Detailed filing data is available for this year.$59.2$59.2$0.00$2.70$2.70$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.9$70.9$0.00$3.49
2012Summary only. Only limited summary data is available for this year.$77.1$77.1$0.00$3.69$3.69$0.00
2011Summary only. Only limited summary data is available for this year.$86.7$86.7$0.00$3.83$3.83$0.00