Civic Intelligence

Orange Schools Financing Corporation

990 • Fiscal year 2014 • EIN 33-0500613

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 12, 2015

Organization ProfileWWW.ORANGEUSD.ORG
1401 N Handy St92867

(714) 628-5373

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.42x

Higher debt load relative to assets than 63% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

92nd percentile

10.19x

Higher debt load relative to revenue than 92% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Source year 2014

Net Margin

30th percentile

0.0%

Higher net margin than 30% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

6th percentile

-8.6%

Faster asset growth than 6% of similar nonprofits.

2014 filings • $50M-$100M nonprofits • Annualized from 2012 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$78,227,480

Down $2,382,084 (-3.0%) from 2013

Net Assets

Flat

$45,035,920

Flat from 2013

Liabilities

Down

$33,191,560

Down $2,382,084 (-6.7%) from 2013

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin30th percentile

Revenue

$3,256,537

No earlier filing loaded for comparison.

Expenses

Down

$3,256,537

Down $49,637,605 (-94%) from 2013

Net Income

$0

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$100M$50M$0Assets 2011: $94,385,921Liabilities 2011: $49,350,000Net Assets 2011: $45,035,9212011Assets 2012: $93,590,921Liabilities 2012: $48,555,000Net Assets 2012: $45,035,9212012Assets 2013: $80,609,564Liabilities 2013: $35,573,644Net Assets 2013: $45,035,9202013Assets 2014: $78,227,480Liabilities 2014: $33,191,560Net Assets 2014: $45,035,9202014Assets 2015: $75,650,619Liabilities 2015: $30,614,699Net Assets 2015: $45,035,9202015Assets 2016: $72,872,983Liabilities 2016: $27,837,063Net Assets 2016: $45,035,9202016Assets 2017: $69,884,065Liabilities 2017: $24,848,145Net Assets 2017: $45,035,9202017Assets 2018: $41,822,220Liabilities 2018: $32,037,601Net Assets 2018: $9,784,6192018Assets 2019: $29,562,407Liabilities 2019: $29,562,407Net Assets 2019: $02019Assets 2020: $25,571,167Liabilities 2020: $25,393,091Net Assets 2020: $178,0762020Assets 2021: $21,811,397Liabilities 2021: $21,597,965Net Assets 2021: $213,4322021Assets 2022: $17,812,405Liabilities 2022: $17,583,981Net Assets 2022: $228,4242022Assets 2023: $13,562,724Liabilities 2023: $13,316,652Net Assets 2023: $246,0722023Assets 2024: $9,057,106Liabilities 2024: $8,793,366Net Assets 2024: $263,7402024Assets 2025: $8,784,481Liabilities 2025: $8,493,029Net Assets 2025: $291,4522025

Highlighted filing

2014

Assets$78,227,480
Liabilities$33,191,560
Net Assets$45,035,920
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$60M$40M$20M$0-$20MExpenses 2011: $2,927,8812011Expenses 2012: $3,055,3062012Expenses 2013: $52,894,1422013Revenue 2014: $3,256,537Expenses 2014: $3,256,537Net Income 2014: $02014Revenue 2015: $3,390,545Expenses 2015: $3,390,545Net Income 2015: $02015Revenue 2016: $3,525,643Expenses 2016: $3,525,643Net Income 2016: $02016Revenue 2017: $3,666,164Expenses 2017: $3,666,164Net Income 2017: $02017Revenue 2018: $13,572,438Expenses 2018: $3,787,819Net Income 2018: $9,784,6192018Revenue 2019: $3,891,738Expenses 2019: $13,676,357Net Income 2019: -$9,784,6192019Revenue 2020: $4,373,518Expenses 2020: $4,355,850Net Income 2020: $17,6682020Revenue 2021: $4,509,507Expenses 2021: $4,474,151Net Income 2021: $35,3562021Revenue 2022: $4,644,353Expenses 2022: $4,629,361Net Income 2022: $14,9922022Revenue 2023: $4,795,209Expenses 2023: $4,777,561Net Income 2023: $17,6482023Revenue 2024: $4,939,523Expenses 2024: $4,921,855Net Income 2024: $17,6682024Revenue 2025: $607,481Expenses 2025: $579,769Net Income 2025: $27,7122025

Highlighted filing

2014

Revenue$3,256,537
Expenses$3,256,537
Net Income$0
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 12, 2015
Return Version
2013v4.0
Gross Receipts
$3,256,537
Mission and Program Overview

Mission

The organization's purpose is to provide funds for the orange unified school district to refinance an equipment lease, finance construction of additional educational improvements and other issuance costs, through the use of certificates of participation (cop's).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$45,035,920$45,035,920→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$45,035,920$45,035,920→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$80,609,564$78,227,480▼ $2,382,084
Other Assets Total$35,573,644$33,191,560▼ $2,382,084
Liabilities
Tax Exempt Bond Liabilities$35,573,644$33,191,560▼ $2,382,084
Total Liabilities$35,573,644$33,191,560▼ $2,382,084
Net Assets / Fund Balance
Total Net Assets Fund Balance$45,035,920$45,035,920→ $0
Total Liabilities and Net Assets / Fund Balance$80,609,564$78,227,480▼ $2,382,084

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$45,035,920-$45,035,920
Other Assets Org$33,191,560--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Rick LedesmaMember$8,588$8,588
Kathryn MoffatMember$8,475$8,475
Diane SingerMember$8,358$8,358
Mark WaylandClerk$7,913$7,913
John OrtegaMember$7,198$7,198
Alexia DeligianniVice President$6,455$6,455
Timothy SurridgePresident$5,885$5,885
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,256,537
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,256,537
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
Other Expenses$2,382,084--$2,382,084
Interest$874,453--$874,453
Total Functional Expenses$3,256,537$0$0$3,256,537
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
A95-60049682012-09-27$38,069,161REFUNDING OF 2003 COPS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$56,150,679-$4,877,601$470,001

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
Corrective action procedures
No
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 A, Line 8B

“The organization has no committees”

Form 990, Part VI, Section B, Line 11

“The return will be provided to the accounting department and the superintendent's office for review, prior to filing the return.”

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

“The board reviews the conflict of interest code every other year and makes changes as needed. If a conflict arises the board member is asked to excuse himself/herself from all voting and discussions on the issue.”

Form 990, Part VI, Section C, Line 19

“All required documents are available at the business office during normal business hours upon request.”

Filing and Contact Details

Filer

EIN
33-0500613
Phone
7146285373

Signing Officer

Name
Michael L Christensen
Title
Superintendent
Phone
7146285373
Signed
2015-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael L Christensen
Formed
2003
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Preparer
Catherine L Gray
Phone
9094664410
Raw XML Appendix373 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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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0(A) ISSUER NAME: ORANGE UNIFIED SCHOOL DISTRICT (F) DESCRIPTION:FINANCE CONSTRUCTION AND REFUND PREVIOUS DEBT
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1TOTAL PROCEEDS INCLUDE DISTRICT CONTRIBUTIONS OF $6,381,518 FOR DEBT SERVICE REQUIREMENTS.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE K PART I BOND ISSUES:
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE K PART II PROCEEDS:
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS NO COMMITTEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN WILL BE PROVIDED TO THE ACCOUNTING DEPARTMENT AND THE SUPERINTENDENT'S OFFICE FOR REVIEW, PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS THE CONFLICT OF INTEREST CODE EVERY OTHER YEAR AND MAKES CHANGES AS NEEDED. IF A CONFLICT ARISES THE BOARD MEMBER IS ASKED TO EXCUSE HIMSELF/HERSELF FROM ALL VOTING AND DISCUSSIONS ON THE ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL REQUIRED DOCUMENTS ARE AVAILABLE AT THE BUSINESS OFFICE DURING NORMAL BUSINESS HOURS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10ORANGE UNIFIED SCHOOL DISTRICT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0956004968
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0GOVERNMENTAL ENTITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC SCHOOL DISTRICT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine101401 N HANDY ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0ORANGE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode092867
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt03256537
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL AMOUNT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10ORANGE UNIFIED SCHOOL DISTRICT
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt035573644
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt033191560
IRS990/TaxExemptBondsInd01
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt080609564
IRS990/TotalAssetsEOYAmt078227480
IRS990/TotalAssetsGrp/BOYAmt080609564
IRS990/TotalAssetsGrp/EOYAmt078227480
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03256537
IRS990/TotalFunctionalExpensesGrp/TotalAmt03256537
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035573644
IRS990/TotalLiabilitiesEOYAmt033191560
IRS990/TotalLiabilitiesGrp/BOYAmt035573644
IRS990/TotalLiabilitiesGrp/EOYAmt033191560
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt045035920
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt045035920
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03256537
IRS990/TotalProgramServiceRevenueAmt03256537
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03256537
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03256537
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt080609564
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt078227480
IRS990/TotReportableCompRltdOrgAmt052872
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101401 N HANDY ST
IRS990/USAddress/City0ORANGE
IRS990/USAddress/State0CA
IRS990/USAddress/ZIPCode092867
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.ORANGEUSD.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL L CHRISTENSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SUPERINTENDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07146285373
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-12
ReturnHeader/Filer/BusinessName/BusinessNameLine10ORANGE SCHOOLS FINANCING CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0ORAN
ReturnHeader/Filer/EIN0330500613
ReturnHeader/Filer/PhoneNum07146285373
ReturnHeader/Filer/USAddress/AddressLine101401 N HANDY ST
ReturnHeader/Filer/USAddress/City0ORANGE
ReturnHeader/Filer/USAddress/State0CA
ReturnHeader/Filer/USAddress/ZIPCode092867
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952648289
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10VAVRINEKTRINEDAY & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine108270 ASPEN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0RANCHO CUCAMONGA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode091730
ReturnHeader/PreparerPersonGrp/PhoneNum09094664410
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CATHERINE L GRAY
ReturnHeader/ReturnTs02015-02-13T10:21:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$78,227,480
Liabilities
$33,191,560
Net assets
$45,035,920
Revenue
$3,256,537
Expenses
$3,256,537
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.78$8.49$0.29$0.61$0.58$0.03
2024Detailed filing. Detailed filing data is available for this year.$9.06$8.79$0.26$4.94$4.92$0.02
2023Detailed filing. Detailed filing data is available for this year.$13.6$13.3$0.25$4.80$4.78$0.02
2022Detailed filing. Detailed filing data is available for this year.$17.8$17.6$0.23$4.64$4.63$0.01
2021Detailed filing. Detailed filing data is available for this year.$21.8$21.6$0.21$4.51$4.47$0.04
2020Detailed filing. Detailed filing data is available for this year.$25.6$25.4$0.18$4.37$4.36$0.02
2019Detailed filing. Detailed filing data is available for this year.$29.6$29.6$0.00$3.89$13.7$9.78
2018Detailed filing. Detailed filing data is available for this year.$41.8$32.0$9.78$13.6$3.79$9.78
2017Detailed filing. Detailed filing data is available for this year.$69.9$24.8$45.0$3.67$3.67$0.00
2016Detailed filing. Detailed filing data is available for this year.$72.9$27.8$45.0$3.53$3.53$0.00
2015Detailed filing. Detailed filing data is available for this year.$75.7$30.6$45.0$3.39$3.39$0.00
2014Detailed filing. Detailed filing data is available for this year.$78.2$33.2$45.0$3.26$3.26$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$80.6$35.6$45.0$52.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$93.6$48.6$45.0$3.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.4$49.4$45.0$2.93
Peer Organizations

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