Civic Intelligence

Inland Empire Tobacco Securitization Corporation

990 • Fiscal year 2017 • EIN 26-0700191

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 09, 2018

Organization ProfileN/A
4080 Lemon Street 4th FloorRiverside, CA 92501

(951) 955-1000

Siviq Scores

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

Liabilities / Assets

88th percentile

0.86x

Higher debt load relative to assets than 88% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

26.77x

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

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Net Margin

3rd percentile

-41%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

1st percentile

$0

Higher top officer pay than 1% of similar nonprofits.

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

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Asset Growth

13th percentile

-2.3%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

55th percentile

6.5%

Faster revenue growth than 55% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$294,243,986

Down $6,928,831 (-2.3%) from 2016

Net Assets

Down

$40,111,701

Down $3,920,605 (-8.9%) from 2016

Liabilities

Down

$254,132,285

Down $3,008,226 (-1.2%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Up

$9,491,802

Up $578,309 (+6.5%) from 2016

Expenses

Down

$13,412,407

Down $209,210 (-1.5%) from 2016

Net Income

Up

-$3,920,605

Up $787,519 (+17%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$400M$300M$200M$100M$0Assets 2014: $314,941,267Liabilities 2014: $261,637,845Net Assets 2014: $53,303,4222014Assets 2015: $308,071,008Liabilities 2015: $259,330,578Net Assets 2015: $48,740,4302015Assets 2016: $301,172,817Liabilities 2016: $257,140,511Net Assets 2016: $44,032,3062016Assets 2017: $294,243,986Liabilities 2017: $254,132,285Net Assets 2017: $40,111,7012017Assets 2018: $287,244,317Liabilities 2018: $246,805,562Net Assets 2018: $40,438,7552018Assets 2019: $274,072,656Liabilities 2019: $250,777,701Net Assets 2019: $23,294,9552019Assets 2020: $266,694,932Liabilities 2020: $242,779,340Net Assets 2020: $23,915,5922020Assets 2021: $259,604,903Liabilities 2021: $233,347,294Net Assets 2021: $26,257,6092021Assets 2022: $252,558,043Liabilities 2022: $221,820,852Net Assets 2022: $30,737,1912022Assets 2023: $245,218,390Liabilities 2023: $212,229,321Net Assets 2023: $32,989,0692023Assets 2024: $238,628,233Liabilities 2024: $204,734,196Net Assets 2024: $33,894,0372024

Highlighted filing

2017

Assets$294,243,986
Liabilities$254,132,285
Net Assets$40,111,701
Open 2017 Filing

Operations Trend

Revenue Growth55th percentile

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

$40M$20M$0-$20MRevenue 2014: $9,282,849Expenses 2014: $13,861,051Net Income 2014: -$4,578,2022014Revenue 2015: $9,091,625Expenses 2015: $13,654,617Net Income 2015: -$4,562,9922015Revenue 2016: $8,913,493Expenses 2016: $13,621,617Net Income 2016: -$4,708,1242016Revenue 2017: $9,491,802Expenses 2017: $13,412,407Net Income 2017: -$3,920,6052017Revenue 2018: $13,384,357Expenses 2018: $13,057,303Net Income 2018: $327,0542018Revenue 2019: $12,865,674Expenses 2019: $30,009,474Net Income 2019: -$17,143,8002019Revenue 2020: $11,686,732Expenses 2020: $11,066,095Net Income 2020: $620,6372020Revenue 2021: $12,773,889Expenses 2021: $10,431,872Net Income 2021: $2,342,0172021Revenue 2022: $14,504,079Expenses 2022: $10,024,497Net Income 2022: $4,479,5822022Revenue 2023: $12,053,385Expenses 2023: $9,625,832Net Income 2023: $2,427,5532023Revenue 2024: $10,177,760Expenses 2024: $9,272,792Net Income 2024: $904,9682024

Highlighted filing

2017

Revenue$9,491,802
Expenses$13,412,407
Net Income-$3,920,605
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 9, 2018
Return Version
2016v3.0
Gross Receipts
$9,491,802
Mission and Program Overview

Mission

To facilitate the tobacco settlement proceeds for the county of riverside.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$19,537,370$19,471,309▼ $66,061
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$301,172,817$294,243,986▼ $6,928,831
Other Assets Total$281,635,447$274,772,677▼ $6,862,770
Liabilities
Mortgage Notes Payable Secured by Investment Property$256,603,339$253,661,293▼ $2,942,046
Other Liabilities$537,172$470,992▼ $66,180
Total Liabilities$257,140,511$254,132,285▼ $3,008,226
Net Assets / Fund Balance
Unrestricted Net Assets$44,032,306$40,111,701▼ $3,920,605
Total Net Assets Fund Balance$44,032,306$40,111,701▼ $3,920,605
Total Liabilities and Net Assets / Fund Balance$301,172,817$294,243,986▼ $6,928,831

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$274,760,821--
Compensation and Service Providers
Top Officer Pay1st percentile

Board Members and Trustees

NameTitle
Jay OrrChairman
Don Kentvice chairman
Gary McBrideDirector
Joe KellyDirector
Kecia Harper-ihemSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$9,410,819
Investment Income
$80,983
Other Revenue
$0
Change in Net Assets
$-3,920,605

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,491,802
Total Revenue per Audited Statements
$9,491,802
Total Revenue per Form 990
$9,491,802
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,412,407
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$6,436,574--$6,436,574
Other Expenses$6,869,021$106,812-$106,812
Total Functional Expenses$13,305,595$106,812$0$13,412,407

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,412,407
Total Expenses per Audited Statements$13,412,407
Total Expenses per Form 990$13,412,407
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$470,992
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is distributed to management and the board for review and comment prior to its filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annual disclosures are required. Any conflicts are resolved as soon as possible.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Inland Empire Tobacco Securitization
EIN
26-0700191
Phone
9519551000
Address
4080 Lemon Street 4th Floor, Riverside, CA 92501

Signing Officer

Name
Ivan Chand
Title
Deputy CEO
Signed
2018-03-09
Discuss with paid preparer
Yes

Organization Details

Formed
2007
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Brown Armstrong Accountancy Corporation
Address
4200 TRUXTUN AVE STE 300, BAKERSFIELD, CA 93309-0668
Preparer
Eric Xin
Phone
6613244971
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The corporation is a tax-exempt corporation under section 501(c)(3) of the internal revenue code.”

Raw XML AppendixShowing 400 of 411 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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IRS990ScheduleD/RevenueSubtotalAmt09491802
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The corporation is a tax-exempt corporation under section 501(c)(3) of the internal revenue code.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
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ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ivan Chand
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Deputy CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Inland Empire Tobacco Securitization
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Corporation
ReturnHeader/Filer/BusinessNameControlTxt0INLA
ReturnHeader/Filer/EIN0260700191
ReturnHeader/Filer/PhoneNum09519551000
ReturnHeader/Filer/USAddress/AddressLine1Txt04080 Lemon Street 4th Floor
ReturnHeader/Filer/USAddress/CityNm0Riverside
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BROWN ARMSTRONG ACCOUNTANCY CORPORATION

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$294,243,986
Liabilities
$254,132,285
Net assets
$40,111,701
Revenue
$9,491,802
Expenses
$13,412,407
Net income
-$3,920,605
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$239$205$33.9$10.2$9.27$0.90
2023Detailed filing. Detailed filing data is available for this year.$245$212$33.0$12.1$9.63$2.43
2022Detailed filing. Detailed filing data is available for this year.$253$222$30.7$14.5$10.0$4.48
2021Detailed filing. Detailed filing data is available for this year.$260$233$26.3$12.8$10.4$2.34
2020Detailed filing. Detailed filing data is available for this year.$267$243$23.9$11.7$11.1$0.62
2019Detailed filing. Detailed filing data is available for this year.$274$251$23.3$12.9$30.0$17.1
2018Detailed filing. Detailed filing data is available for this year.$287$247$40.4$13.4$13.1$0.33
2017Detailed filing. Detailed filing data is available for this year.$294$254$40.1$9.49$13.4$3.92
2016Detailed filing. Detailed filing data is available for this year.$301$257$44.0$8.91$13.6$4.71
2015Detailed filing. Detailed filing data is available for this year.$308$259$48.7$9.09$13.7$4.56
2014Detailed filing. Detailed filing data is available for this year.$315$262$53.3$9.28$13.9$4.58