Civic Intelligence

Educational Facilities Corporation

EIN 20-5119042 • 501(c)3 • West Columbia, SC

Profile

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 2.

3205 Platt Springs RdWest Columbia, SC 29170

www.lex2.k12.sc.us

Siviq Scores

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

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

6.46x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

95th percentile

78%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-11%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

0.3%

Faster revenue growth than 34% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$13,873,469

Down $1,683,069 (-11%) from 2023

Liabilities

Down

$13,873,469

Down $1,683,069 (-11%) from 2023

Net Assets

Flat

$0

Flat from 2023

Operations
Liabilities / Revenue95th percentileNet Margin95th percentile

Revenue

Up

$2,146,624

Up $5,874 (+0.3%) from 2023

Expenses

Down

$474,428

Down $50,316 (-9.6%) from 2023

Net Income

Up

$1,672,196

Up $56,190 (+3.5%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

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

$40M$30M$20M$10M$0Assets 2011: $3,627,220Liabilities 2011: $1,272,110Net Assets 2011: $2,355,1102011Assets 2012: $3,660,613Liabilities 2012: $1,322,556Net Assets 2012: $2,338,0572012Assets 2013: $34,237,239Liabilities 2013: $31,897,110Net Assets 2013: $2,340,1292013Assets 2014: $33,492,310Liabilities 2014: $31,177,110Net Assets 2014: $2,315,2002014Assets 2015: $26,046,918Liabilities 2015: $25,980,000Net Assets 2015: $66,9182015Assets 2016: $24,428,403Liabilities 2016: $24,365,000Net Assets 2016: $63,4032016Assets 2017: $23,117,236Liabilities 2017: $23,065,000Net Assets 2017: $52,2362017Assets 2018: $21,801,639Liabilities 2018: $21,750,000Net Assets 2018: $51,6392018Assets 2019: $20,466,252Liabilities 2019: $20,415,000Net Assets 2019: $51,2522019Assets 2020: $19,107,765Liabilities 2020: $19,075,056Net Assets 2020: $32,7092020Assets 2021: $17,713,387Liabilities 2021: $17,685,056Net Assets 2021: $28,3312021Assets 2022: $17,164,607Liabilities 2022: $17,164,607Net Assets 2022: $02022Assets 2023: $15,556,538Liabilities 2023: $15,556,538Net Assets 2023: $02023Assets 2024: $13,873,469Liabilities 2024: $13,873,469Net Assets 2024: $02024

Highlighted filing

2024

Assets$13,873,469
Liabilities$13,873,469
Net Assets$0
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $1,857,9312011Expenses 2012: $2,188,1512012Expenses 2013: $2,133,7722013Revenue 2014: $2,135,724Expenses 2014: $2,160,653Net Income 2014: -$24,9292014Revenue 2015: $31,309,790Expenses 2015: $33,558,072Net Income 2015: -$2,248,2822015Revenue 2016: $2,618,912Expenses 2016: $2,622,427Net Income 2016: -$3,5152016Revenue 2017: $2,182,009Expenses 2017: $2,193,176Net Income 2017: -$11,1672017Revenue 2018: $2,182,000Expenses 2018: $2,182,597Net Income 2018: -$5972018Revenue 2019: $2,202,522Expenses 2019: $2,202,909Net Income 2019: -$3872019Revenue 2020: $2,185,553Expenses 2020: $2,204,096Net Income 2020: -$18,5432020Revenue 2021: $2,158,056Expenses 2021: $2,162,434Net Income 2021: -$4,3782021Revenue 2022: $2,158,840Expenses 2022: $626,803Net Income 2022: $1,532,0372022Revenue 2023: $2,140,750Expenses 2023: $524,744Net Income 2023: $1,616,0062023Revenue 2024: $2,146,624Expenses 2024: $474,428Net Income 2024: $1,672,1962024

Highlighted filing

2024

Revenue$2,146,624
Expenses$474,428
Net Income$1,672,196
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$13,873,469
Liabilities
$13,873,469
Net assets
$0
Revenue
$2,146,624
Expenses
$474,428
Net income
$1,672,196
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.9$13.9$0.00$2.15$0.47$1.67
2023Summary only. Only limited summary data is available for this year.$15.6$15.6$0.00$2.14$0.52$1.62
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$17.2$0.00$2.16$0.63$1.53
2021Summary only. Only limited summary data is available for this year.$17.7$17.7$0.03$2.16$2.16$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.1$19.1$0.03$2.19$2.20$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.5$20.4$0.05$2.20$2.20$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.8$21.8$0.05$2.18$2.18$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.1$23.1$0.05$2.18$2.19$0.01
2016Detailed filing. Detailed filing data is available for this year.$24.4$24.4$0.06$2.62$2.62$0.00
2015Detailed filing. Detailed filing data is available for this year.$26.0$26.0$0.07$31.3$33.6$2.25
2014Detailed filing. Detailed filing data is available for this year.$33.5$31.2$2.32$2.14$2.16$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.2$31.9$2.34$2.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.66$1.32$2.34$2.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.63$1.27$2.36$1.86
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 16, 2025
Return Version
2023v6.0
Gross Receipts
$2,146,624
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 two.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$15,506,246$13,834,050▼ $1,672,196
Cash and Non-Interest-Bearing Accounts$42,083$38,783▼ $3,300
Savings and Temporary Cash Investments$8,209$636▼ $7,573
Total Assets$15,556,538$13,873,469▼ $1,683,069
Liabilities
Tax Exempt Bond Liabilities$15,536,482$13,853,413▼ $1,683,069
Other Liabilities$20,056$20,056→ $0
Total Liabilities$15,556,538$13,873,469▼ $1,683,069
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$15,556,538$13,873,469▼ $1,683,069

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$13,834,050--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Brenda HafnerSuperintende$243,194$243,194
Nicolas Wade Former Dist 2 SuperintFormer Offic$120,000$120,000
Sky StricklandCFO Lcsd2$97,617$97,617

Board Members and Trustees

NameTitle
Donnie BolandPresident
Nicolas Wade Former Dist 2 SuperintFormer Officer
Brandi GistSecretary
Brenda HafnerSuperintendent Lcsd2
David LoadholtTreasurer
Jatana NorrisVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,125,172
Investment Income
$21,452
Other Revenue
$0
Change in Net Assets
$1,672,196
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$474,428
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$443,119--$443,119
Fees for Services Legal$31,309--$31,309
Total Functional Expenses$474,428$0$0$474,428
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
Due to District$20,056

Bond Issues

BondIssuerIssuedIssue PricePurpose
AEducational Facilities Corporation2015-04-14$19,424,103Advance refund 2006 bond series

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,424,103$19,044,124$4,440,000$379,979

Bond Financing Compliance

No rebate due
Yes
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
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

“Officer compensation approval process: compensation reported in part vii relates to the applicable individual's role as an employee of the school district and is therefore set under district policy.”

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

“The board of trustees of lexington county school district two has the power to appoint directors and may fill vacancies on the board.”

Form 990, Page 6, Part VI, Line 8B

“In fy24, there were no applicable committee meetings.”

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

“The form 990 is reviewed by the cfo of lexington school district two. A copy will be provided to the board after filing.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy, and district financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Educational Facilities Corporation
EIN
20-5119042
Phone
8037964708
Address
3205 PLATT SPRINGS RD, WEST COLUMBIA, SC 29170

Signing Officer

Name
Donnie Boland
Title
President
Phone
8037964708
Signed
2025-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donnie Boland
Formed
2006
Legal Domicile
Sc
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Greene Finney Cauley Llp
Address
908 N MAIN ST, ANDERSON, SC 29621
Preparer
Christopher S Cauley
Phone
8642258713
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Net equity to district -1,672,196”

Raw XML AppendixShowing 400 of 430 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0AS A GOVERNMENTAL UNIT, THE SCHOOL DISTRICT IS NOT REQUIRED TO APPLY FOR RECOGNITION OF TAX EXEMPT STATUS WITH THE IRS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 2
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0NET FACILITIES HELD FOR DISTRICT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020056
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO DISTRICT
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IRS990ScheduleD/TotalLiabilityAmt020056
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IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0120000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1189351
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt046561
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt07282
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NICOLAS WADE FORMER DIST 2 SUPERINT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1BRENDA HAFNER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0FORMER OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SUPERINTENDENT LCSD2
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0120000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1243194
IRS990ScheduleJ/SeverancePaymentInd0true
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0NICOLAS WADE FORMER DIST 2 SUPERINT. 120,000 0 0
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1MR. WADE RESIGNED EFFECTIVE JUNE 30, 2022. HIS CONTRACT RAN THROUGH JUNE 30, 2023 SO HE RECEIVED PAYMENT THROUGH THAT CONTRACT PERIOD. PAYMENTS RECEIVED WERE SOLELY FOR MR. WADE'S ROLE WITH THE SCHOOL DISTRICT. HE WAS NOT PAID FOR SERVICES RENDERED TO THE FILING ORGANIZATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 4
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE J, PART III
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IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0true
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0EDUCATIONAL FACILITIES CORPORATION ADVANCE REFUND 2006 BOND SERIES
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1EDUCATIONAL FACILITIES CORPORATION 07/12/24
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1DATE REBATE COMPUTATION PERFORMED
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02015-04-14
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt019424103
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0EDUCATIONAL FACILITIES CORPORATION
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0ADVANCE REFUND 2006 BOND SERIES
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0379979
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt019044124
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt04440000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02006
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt019424103
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICER COMPENSATION APPROVAL PROCESS: COMPENSATION REPORTED IN PART VII RELATES TO THE APPLICABLE INDIVIDUAL'S ROLE AS AN EMPLOYEE OF THE SCHOOL DISTRICT AND IS THEREFORE SET UNDER DISTRICT POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF TRUSTEES OF LEXINGTON COUNTY SCHOOL DISTRICT TWO HAS THE POWER TO APPOINT DIRECTORS AND MAY FILL VACANCIES ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN FY24, THERE WERE NO APPLICABLE COMMITTEE MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE CFO OF LEXINGTON SCHOOL DISTRICT TWO. A COPY WILL BE PROVIDED TO THE BOARD AFTER FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND DISTRICT FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NET EQUITY TO DISTRICT -1,672,196
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WEST COLUMBIA
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IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt013853413
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt013873469
IRS990/TotalAssetsGrp/BOYAmt015556538
IRS990/TotalAssetsGrp/EOYAmt013873469
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0474428
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt013873469
IRS990/TotalLiabilitiesGrp/BOYAmt015556538
IRS990/TotalLiabilitiesGrp/EOYAmt013873469
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt078047
IRS990/TotalProgramServiceExpensesAmt0474428
IRS990/TotalProgramServiceRevenueAmt02125172
IRS990/TotalRevenueGrp/ExclusionAmt021452
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02125172
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02146624
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015556538
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013873469
IRS990/TotReportableCompRltdOrgAmt0382764
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03205 PLATT SPRINGS RD
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IRS990/VotingMembersGoverningBodyCnt04
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