Civic Intelligence

Riverside Sheriffs Assocation Benefit Trust

990 • Fiscal year 2018 • EIN 33-6153873

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

21800 Cactus AvenueRiverside, CA 92518

(951) 653-5152

Siviq Scores

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

Liabilities / Assets

66th percentile

0.10x

Higher debt load relative to assets than 66% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

63rd percentile

0.10x

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

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Net Margin

43rd percentile

3.1%

Higher net margin than 43% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

50th percentile

3.6%

Faster asset growth than 50% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

17th percentile

-5.1%

Faster revenue growth than 17% of similar nonprofits.

2018 filings • 501(c)9 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$44,783,908

Up $1,542,471 (+3.6%) from 2017

Net Assets

Up

$40,307,771

Up $1,320,175 (+3.4%) from 2017

Liabilities

Up

$4,476,137

Up $222,296 (+5.2%) from 2017

Revenue

Down

$42,679,511

Down $2,316,660 (-5.1%) from 2017

Expenses

Up

$41,367,706

Up $2,969,542 (+7.7%) from 2017

Net Income

Down

$1,311,805

Down $5,286,202 (-80%) from 2017

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2012: $14,776,020Liabilities 2012: $4,252,040Net Assets 2012: $10,523,9802012Assets 2013: $17,245,081Liabilities 2013: $4,006,786Net Assets 2013: $13,238,2952013Assets 2014: $22,891,772Liabilities 2014: $4,125,811Net Assets 2014: $18,765,9612014Assets 2015: $30,699,699Liabilities 2015: $4,276,811Net Assets 2015: $26,422,8882015Assets 2016: $36,106,760Liabilities 2016: $4,276,876Net Assets 2016: $31,829,8842016Assets 2017: $43,241,437Liabilities 2017: $4,253,841Net Assets 2017: $38,987,5962017Assets 2018: $44,783,908Liabilities 2018: $4,476,137Net Assets 2018: $40,307,7712018Assets 2019: $45,487,766Liabilities 2019: $4,749,305Net Assets 2019: $40,738,4612019Assets 2020: $51,622,069Liabilities 2020: $5,167,305Net Assets 2020: $46,454,7642020Assets 2021: $63,765,634Liabilities 2021: $6,341,710Net Assets 2021: $57,423,9242021Assets 2022: $62,202,176Liabilities 2022: $5,370,804Net Assets 2022: $56,831,3722022Assets 2023: $74,521,659Liabilities 2023: $5,575,106Net Assets 2023: $68,946,5532023Assets 2024: $89,373,352Liabilities 2024: $6,088,682Net Assets 2024: $83,284,6702024

Highlighted filing

2018

Assets$44,783,908
Liabilities$4,476,137
Net Assets$40,307,771

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2012: $33,098,6882012Expenses 2013: $34,127,5932013Revenue 2014: $42,156,664Expenses 2014: $36,851,418Net Income 2014: $5,305,2462014Revenue 2015: $45,399,834Expenses 2015: $37,401,693Net Income 2015: $7,998,1412015Revenue 2016: $45,237,399Expenses 2016: $40,025,867Net Income 2016: $5,211,5322016Revenue 2017: $44,996,171Expenses 2017: $38,398,164Net Income 2017: $6,598,0072017Revenue 2018: $42,679,511Expenses 2018: $41,367,706Net Income 2018: $1,311,8052018Revenue 2019: $42,456,970Expenses 2019: $43,950,250Net Income 2019: -$1,493,2802019Revenue 2020: $46,851,552Expenses 2020: $42,077,273Net Income 2020: $4,774,2792020Revenue 2021: $54,850,501Expenses 2021: $45,708,897Net Income 2021: $9,141,6042021Revenue 2022: $52,295,172Expenses 2022: $46,509,400Net Income 2022: $5,785,7722022Revenue 2023: $59,216,720Expenses 2023: $49,339,381Net Income 2023: $9,877,3392023Revenue 2024: $63,408,492Expenses 2024: $51,616,439Net Income 2024: $11,792,0532024

Highlighted filing

2018

Revenue$42,679,511
Expenses$41,367,706
Net Income$1,311,805
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.2
Gross Receipts
$52,902,671
Mission and Program Overview

Mission

To advance the social, economic, educational and general welfare of its members and aid the advancement of law enforcement services provided within riverside county by using and investing contributions received to provide health and welfare benefits to participants and their beneficiaries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$38,987,596$40,307,771▲ $1,320,175
Investments in Publicly Traded Securities$26,902,044$29,908,429▲ $3,006,385
Savings and Temporary Cash Investments$10,545,702$9,616,993▼ $928,709
Accounts Receivable$1,781,763$1,711,452▼ $70,311
Cash and Non-Interest-Bearing Accounts$101,270$223,439▲ $122,169
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$43,241,437$44,783,908▲ $1,542,471
Other Assets Total$3,910,658$3,323,595▼ $587,063
Liabilities
Other Liabilities$4,228,000$4,333,627▲ $105,627
Accounts Payable and Accrued Expenses$25,841$142,510▲ $116,669
Total Liabilities$4,253,841$4,476,137▲ $222,296
Net Assets / Fund Balance
Total Net Assets Fund Balance$38,987,596$40,307,771▲ $1,320,175
Total Liabilities and Net Assets / Fund Balance$43,241,437$44,783,908▲ $1,542,471

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$24,859$24,859
Other Assets Org$3,323,595--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ron FurtadoChairman
Chad MarlattVice Chairman
Mike McqueeneyAlt. Trustee
Chris CazarezTrustee
Gabriel CarranzaTrustee
Jose SantosTrustee
Randy WortmanSecretary
Pete KurylowiczTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$41,507,667
Investment Income
$1,171,844
Other Revenue
$0
Change in Net Assets
$1,311,805

Audited Revenue Reconciliation

Revenue per Audited Statements
$42,679,511
Revenue Not Reported on Form 990
$93,869
Total Revenue per Audited Statements
$42,773,380
Total Revenue per Form 990
$42,679,511
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$697,055
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
Benefits to Members---$40,670,651
Fees for Service Investment Mgmnt Fees---$247,540
Fees for Services Accounting---$64,016
Travel---$34,793
Fees for Services Legal---$28,614
Office Expenses---$27,824
Insurance---$25,913
Other Expenses---$279
Information Technology---$259
Total Functional Expenses$0$0$0$41,367,706

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$41,367,706
Total Expenses per Audited Statements$41,367,706
Total Expenses per Form 990$41,367,706
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
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
Benefit Obligations$4,333,627
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
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 was distributed to all trustees and reviewed during the board of trustee meeting before it was filed.

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

Trustees are required to notify the trust fund of any changes in their interest that could give rise to conflicts.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Members of the governing body do not receive compensation.

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

Trust's plan document and any other governing documents, conflict of interest policy and financial statements are maintained at the trust office and are available upon request. Additionally, copies of financial statements are distributed to the trustees of the plan on a regular basis.

Filing and Contact Details

Filer

Filer Name
Riverside Sheriffs Assocation
EIN
33-6153873
Phone
9516535152
Address
21800 CACTUS AVENUE, RIVERSIDE, CA 92518

Signing Officer

Name
Ron Furtado
Title
Chairman
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Furtado
Formed
1994
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Propp Christensen Caniglia Llp
Address
9261 Sierra College Boulevard, Roseville, CA 95661-5919
Preparer
K Jeffrey De Lyser CPA
Phone
9167512900
Supplemental Narrative

Additional Explanations

Client Note 1

Client Note 1 - FORM 990-T, SCHEDULE GSET-ASIDES: THE ORGANIZATION IS QUALIFIED UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE AND 23701I OF THE CALIFORNIA REVENUE AND TAXATION CODE AND WAS CREATED AS A RESULT OF, AND OPERATES UNDER, PROVISIONS OF COLLECTIVE BARGAINING AGREEMENTS. THE INVESTMENT EARNINGS OF THE ORGANIZATION HAVE BEEN SET ASIDE FOR THE PURPOSE DESCRIBED IN THE IRC SECTION 512(A)(3)(B)(II) AND ARE EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 419A(F)(5)(A).THE ORGANIZATION'S INVESTMENT EARNINGS ARE NOT TAXABLE FOR CALIFORNIA INCOME TAX PURPOSES UNDER REVENUE AND TAXATION CODE SECTION 23732 AS EXEMPTED UNDER REVENUE AND TAXATION CODE SECTION 24601 AND INTERNAL REVENUE CODE SECTION 419A(F)(5)(A).

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - FORM 990-T, SCHEDULE GSET-ASIDES: THE ORGANIZATION IS QUALIFIED UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE AND 23701I OF THE CALIFORNIA REVENUE AND TAXATION CODE AND WAS CREATED AS A RESULT OF, AND OPERATES UNDER, PROVISIONS OF COLLECTIVE BARGAINING AGREEMENTS. THE INVESTMENT EARNINGS OF THE ORGANIZATION HAVE BEEN SET ASIDE FOR THE PURPOSE DESCRIBED IN THE IRC SECTION 512(A)(3)(B)(II) AND ARE EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 419A(F)(5)(A).THE ORGANIZATION'S INVESTMENT EARNINGS ARE NOT TAXABLE FOR CALIFORNIA INCOME TAX PURPOSES UNDER REVENUE AND TAXATION CODE SECTION 23732 AS EXEMPTED UNDER REVENUE AND TAXATION CODE SECTION 24601 AND INTERNAL REVENUE CODE SECTION 419A(F)(5)(A).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS DISTRIBUTED TO ALL TRUSTEES AND REVIEWED DURING THE BOARD OF TRUSTEE MEETING BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TRUSTEES ARE REQUIRED TO NOTIFY THE TRUST FUND OF ANY CHANGES IN THEIR INTEREST THAT COULD GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS OF THE GOVERNING BODY DO NOT RECEIVE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRUST'S PLAN DOCUMENT AND ANY OTHER GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MAINTAINED AT THE TRUST OFFICE AND ARE AVAILABLE UPON REQUEST. ADDITIONALLY, COPIES OF FINANCIAL STATEMENTS ARE DISTRIBUTED TO THE TRUSTEES OF THE PLAN ON A REGULAR BASIS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4CHARITY ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt5LEGAL TRUST FUND
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