Civic Intelligence

Bardeen Partners Inc

990 • Fiscal year 2019 • EIN 33-0465358

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 23, 2020

PO Box 57000Irvine, CA 92619

(949) 453-5300

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

2019 filings • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

20th percentile

0.07x

Higher debt load relative to revenue than 20% of similar nonprofits.

2019 filings • $100M-$250M nonprofits • Source year 2019

Net Margin

8th percentile

-42%

Higher net margin than 8% of similar nonprofits.

2019 filings • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

54th percentile

$398,730

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2019 filings • $100M-$250M nonprofits • Source year 2019

Asset Growth

30th percentile

1.0%

Faster asset growth than 30% of similar nonprofits.

2019 filings • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

46th percentile

2.8%

Faster revenue growth than 46% of similar nonprofits.

2019 filings • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$189,715,509

Up $1,932,975 (+1.0%) from 2018

Net Assets

Up

$189,088,453

Up $2,009,154 (+1.1%) from 2018

Liabilities

Down

$627,056

Down $76,179 (-11%) from 2018

Revenue

Up

$8,704,528

Up $236,264 (+2.8%) from 2018

Expenses

Up

$12,390,581

Up $4,345,422 (+54%) from 2018

Net Income

Down

-$3,686,053

Down $4,109,158 (-971%) from 2018

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2015: $27,887,067Liabilities 2015: $1,345,400Net Assets 2015: $26,541,6672015Assets 2016: $181,165,221Liabilities 2016: $1,124,741Net Assets 2016: $180,040,4802016Assets 2017: $186,636,614Liabilities 2017: $1,137,034Net Assets 2017: $185,499,5802017Assets 2018: $187,782,534Liabilities 2018: $703,235Net Assets 2018: $187,079,2992018Assets 2019: $189,715,509Liabilities 2019: $627,056Net Assets 2019: $189,088,4532019Assets 2020: $195,444,875Liabilities 2020: $480,132Net Assets 2020: $194,964,7432020Assets 2021: $215,133,557Liabilities 2021: $759,625Net Assets 2021: $214,373,9322021Assets 2022: $221,953,090Liabilities 2022: $784,272Net Assets 2022: $221,168,8182022Assets 2023: $229,094,998Liabilities 2023: $601,918Net Assets 2023: $228,493,0802023Assets 2024: $269,828,671Liabilities 2024: $609,747Net Assets 2024: $269,218,9242024Assets 2025: $279,126,136Liabilities 2025: $589,573Net Assets 2025: $278,536,5632025

Highlighted filing

2019

Assets$189,715,509
Liabilities$627,056
Net Assets$189,088,453

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2015: $5,807,579Expenses 2015: $7,069,308Net Income 2015: -$1,261,7292015Revenue 2016: $7,692,238Expenses 2016: $7,556,333Net Income 2016: $135,9052016Revenue 2017: $7,956,631Expenses 2017: $7,704,923Net Income 2017: $251,7082017Revenue 2018: $8,468,264Expenses 2018: $8,045,159Net Income 2018: $423,1052018Revenue 2019: $8,704,528Expenses 2019: $12,390,581Net Income 2019: -$3,686,0532019Revenue 2020: $7,830,954Expenses 2020: $7,627,509Net Income 2020: $203,4452020Revenue 2021: $8,558,319Expenses 2021: $7,974,581Net Income 2021: $583,7382021Revenue 2022: $8,491,991Expenses 2022: $8,122,640Net Income 2022: $369,3512022Revenue 2023: $9,301,537Expenses 2023: $8,629,993Net Income 2023: $671,5442023Revenue 2024: $9,223,843Expenses 2024: $7,370,977Net Income 2024: $1,852,8662024Revenue 2025: $10,686,103Expenses 2025: $9,426,499Net Income 2025: $1,259,6042025

Highlighted filing

2019

Revenue$8,704,528
Expenses$12,390,581
Net Income-$3,686,053
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 23, 2020
Return Version
2018v3.1
Gross Receipts
$12,924,941
Mission and Program Overview

Mission

The mission of the organization is to promote the common good and the general welfare of the residents, property owners and customers who reside within the boundaries of the irvine ranch water district and the governmental enterprises in the district and the surrounding areas by acquiring real and personal property to the benefit of the district and individuals herein described.

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$187,079,299$189,088,453▲ $2,009,154
Investments Other Securities$187,170,119$189,065,327▲ $1,895,208
Cash and Non-Interest-Bearing Accounts$574,709$617,073▲ $42,364
Prepaid Expenses and Deferred Charges$37,690$33,052▼ $4,638
Accounts Receivable$16$57▲ $41
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$187,782,534$189,715,509▲ $1,932,975
Liabilities
Escrow Account Liability$439,660$471,797▲ $32,137
Other Liabilities$215,671$100,000▼ $115,671
Accounts Payable and Accrued Expenses$47,904$55,259▲ $7,355
Total Liabilities$703,235$627,056▼ $76,179
Net Assets / Fund Balance
Total Net Assets Fund Balance$187,079,299$189,088,453▲ $2,009,154
Total Liabilities and Net Assets / Fund Balance$187,782,534$189,715,509▲ $1,932,975

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$189,065,327--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Doug ReinhartDirector$49,449$49,449
Peer SwanVice President$46,531$46,531
John WithersPresident$44,819$44,819
Steven LamarDirector$43,315$43,315
Mary Aileen MatheisDirector$38,576$38,576

Board Members and Trustees

NameTitle
Cheryl ClaryAsst. Treasurer
Tanja FournierAsst. Treasurer
Paul CookGeneral Manager
Leslie BonkowskiSecretary
Robert JacobsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$540,896
Other Revenue
$8,163,632
Change in Net Assets
$-3,686,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,390,581
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
Payments to Affiliates$12,317,110--$12,317,110
Other Expenses$73,471--$73,471
Total Functional Expenses$12,390,581$0$0$12,390,581
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Claims Payable$100,000
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A copy of the organization's form 990 tax return is distributed to the governing board of directors for approval prior to its filing. This formal approval is documented in the minutes of the board of directors meeting and is a required procedure.

Form 990, Part VI, Section B, Line 12C

The organization has a formal conflict of interest policy. The five district (irwd) board of directors are required to be the five members of the board of directors. All members of the board of directors of the organization are required to sign this conflict of interest policy on an annual basis. The organization monitors this conflict of interest policy by enforcing its implementation as policy to members of the board of directors.

Form 990, Part VI, Section C, Line 19

Copies of the governing documents, policies and procedures, and annual federal and state exempt tax returns are available to all members of the organization as well as to the general public upon a request made to the treasurer of the organization.

Filing and Contact Details

Filer

Filer Name
Bardeen Partners Inc
EIN
33-0465358
Phone
9494535300
Address
PO BOX 57000, IRVINE, CA 92619

Signing Officer

Name
Robert Jacobson
Title
Treasurer
Phone
9494535300
Signed
2020-04-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Jacobson
Formed
1991
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Davis Farr Llp
Address
2301 DUPONT DRIVE SUITE 200, IRVINE, CA 92612
Preparer
Jennifer Farr
Phone
9494742020
Supplemental Narrative

Additional Explanations

Form 990 Part I Line 1

The mission of the organization is to promote the common good and the general welfare of the residents, property owners and customers who reside within the boundaries of the irvine ranch water district and the governmental enterprises in the district and the surrounding areas by acquiring real and personal property to the benefit of the district and individuals herein described.

Form 990 Part XII Line 2C

The audit oversight process has not changed since the prior year.

Financial Statement Notes

PART IV, LINE 2B:

Tenants who rent or lease from bardeen partners must pay a security deposit. The security deposit is held as a liability to bardeen.

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IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0100000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CLAIMS PAYABLE
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0189065327
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT REAL ESTATE
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TENANTS WHO RENT OR LEASE FROM BARDEEN PARTNERS MUST PAY A SECURITY DEPOSIT. THE SECURITY DEPOSIT IS HELD AS A LIABILITY TO BARDEEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
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IRS990ScheduleD/TotalLiabilityAmt0100000
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1149605
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2228645
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3256255
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt316984
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt421702
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LESLIE BONKOWSKI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1TANJA FOURNIER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ROBERT JACOBSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3CHERYL CLARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4PAUL COOK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1ASST. TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3ASST. TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4GENERAL MANAGER
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt4398730
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ALL COMPENSATION IS PAID BY IRVINE RANCH WATER DISTRICT. EMPLOYEE REVIEWS AND COMPENSATION ADJUSTMENTS ARE DONE ACCORDING TO IRVINE RANCH WATER DISTRICT POLICIES AND PROCEDURES.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE ORGANIZATION IS TO PROMOTE THE COMMON GOOD AND THE GENERAL WELFARE OF THE RESIDENTS, PROPERTY OWNERS AND CUSTOMERS WHO RESIDE WITHIN THE BOUNDARIES OF THE IRVINE RANCH WATER DISTRICT AND THE GOVERNMENTAL ENTERPRISES IN THE DISTRICT AND THE SURROUNDING AREAS BY ACQUIRING REAL AND PERSONAL PROPERTY TO THE BENEFIT OF THE DISTRICT AND INDIVIDUALS HEREIN DESCRIBED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE ORGANIZATION'S FORM 990 TAX RETURN IS DISTRIBUTED TO THE GOVERNING BOARD OF DIRECTORS FOR APPROVAL PRIOR TO ITS FILING. THIS FORMAL APPROVAL IS DOCUMENTED IN THE MINUTES OF THE BOARD OF DIRECTORS MEETING AND IS A REQUIRED PROCEDURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS A FORMAL CONFLICT OF INTEREST POLICY. THE FIVE DISTRICT (IRWD) BOARD OF DIRECTORS ARE REQUIRED TO BE THE FIVE MEMBERS OF THE BOARD OF DIRECTORS. ALL MEMBERS OF THE BOARD OF DIRECTORS OF THE ORGANIZATION ARE REQUIRED TO SIGN THIS CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. THE ORGANIZATION MONITORS THIS CONFLICT OF INTEREST POLICY BY ENFORCING ITS IMPLEMENTATION AS POLICY TO MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE GOVERNING DOCUMENTS, POLICIES AND PROCEDURES, AND ANNUAL FEDERAL AND STATE EXEMPT TAX RETURNS ARE AVAILABLE TO ALL MEMBERS OF THE ORGANIZATION AS WELL AS TO THE GENERAL PUBLIC UPON A REQUEST MADE TO THE TREASURER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE AUDIT OVERSIGHT PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PART I LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART XII LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0IRVINE RANCH WATER DISTRICT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0952232918
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(4)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0WATER DISTRICT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt015600 SAND CANYON ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0IRVINE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0926197000
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt012317110
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0IRVINE RANCH WATER DISTRICT
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0R
IRS990ScheduleR/TransferFromOtherOrgInd00

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