Civic Intelligence

San Francisco College Track Qalicb Inc

EIN 45-2543410 • 501(c)3 • Oakland, CA

Profile

The organization's mission is to promote economic development in distressed areas in San Francisco.

112 Linden StreetOakland, CA 94607

www.san-francisco-college-track-qalicb-inc

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

37th percentile

0.0%

Higher net margin than 37% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

7751%

Faster revenue growth than 100% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $6,655,118 (-100%) from 2019

Liabilities

Down

$0

Down $8,526,724 (-100%) from 2019

Net Assets

Up

$0

Up $1,871,606 (+100%) from 2019

Operations
Liabilities / Revenue10th percentileNet Margin37th percentile

Revenue

Up

$8,636,000

Up $8,525,995 (+7751%) from 2019

Expenses

Up

$8,636,000

Up $8,384,242 (+3330%) from 2019

Net Income

Up

$0

Up $141,753 (+100%) from 2019

Trend Graphs

Balance Sheet Trend

Asset Growth2nd percentile

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

$10M$5.0M$0-$5.0MAssets 2013: $8,174,533Liabilities 2013: $8,583,303Net Assets 2013: -$408,7702013Assets 2014: $7,826,721Liabilities 2014: $8,541,688Net Assets 2014: -$714,9672014Assets 2015: $7,506,493Liabilities 2015: $8,526,000Net Assets 2015: -$1,019,5072015Assets 2016: $7,262,009Liabilities 2016: $8,552,562Net Assets 2016: -$1,290,5532016Assets 2017: $6,975,290Liabilities 2017: $8,526,000Net Assets 2017: -$1,550,7102017Assets 2018: $6,813,710Liabilities 2018: $8,543,563Net Assets 2018: -$1,729,8532018Assets 2019: $6,655,118Liabilities 2019: $8,526,724Net Assets 2019: -$1,871,6062019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0
Open 2020 Filing

Operations Trend

Revenue Growth100th percentile

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

$10M$5.0M$0-$5.0MRevenue 2013: $55,425Expenses 2013: $370,528Net Income 2013: -$315,1032013Revenue 2014: $65,330Expenses 2014: $371,527Net Income 2014: -$306,1972014Revenue 2015: $77,719Expenses 2015: $382,259Net Income 2015: -$304,5402015Revenue 2016: $100,094Expenses 2016: $371,140Net Income 2016: -$271,0462016Revenue 2017: $110,064Expenses 2017: $370,221Net Income 2017: -$260,1572017Revenue 2018: $110,042Expenses 2018: $289,185Net Income 2018: -$179,1432018Revenue 2019: $110,005Expenses 2019: $251,758Net Income 2019: -$141,7532019Revenue 2020: $8,636,000Expenses 2020: $8,636,000Net Income 2020: $02020

Highlighted filing

2020

Revenue$8,636,000
Expenses$8,636,000
Net Income$0
Open 2020 Filing

Filings

Most recent year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$8,636,000
Expenses
$8,636,000
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$8.64$8.64$0.00
2019Detailed filing. Detailed filing data is available for this year.$6.66$8.53$1.87$0.11$0.25$0.14
2018Detailed filing. Detailed filing data is available for this year.$6.81$8.54$1.73$0.11$0.29$0.18
2017Detailed filing. Detailed filing data is available for this year.$6.98$8.53$1.55$0.11$0.37$0.26
2016Detailed filing. Detailed filing data is available for this year.$7.26$8.55$1.29$0.10$0.37$0.27
2015Summary only. Only limited summary data is available for this year.$7.51$8.53$1.02$0.08$0.38$0.30
2014Summary only. Only limited summary data is available for this year.$7.83$8.54$0.71$0.07$0.37$0.31
2013Summary only. Only limited summary data is available for this year.$8.17$8.58$0.41$0.06$0.37$0.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 26, 2021
Return Version
2019v5.0
Gross Receipts
$8,636,000
Mission and Program Overview

Mission

The organization's mission is to promote economic development in distressed areas in San Francisco.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,020,765$0▼ $5,020,765
Cash and Non-Interest-Bearing Accounts$135,915$0▼ $135,915
Savings and Temporary Cash Investments-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$6,655,118$0▼ $6,655,118
Other Assets Total$1,498,438$0▼ $1,498,438
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,526,000--
Accounts Payable and Accrued Expenses$724--
Total Liabilities$8,526,724$0▼ $8,526,724
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,871,606--
Total Net Assets Fund Balance$-1,871,606$0▲ $1,871,606
Total Liabilities and Net Assets / Fund Balance$6,655,118$0▼ $6,655,118
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
David SingerDirector
Elissa SalasDirector
Lynn FeintechDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,526,000
Investment Income
$0
Other Revenue
$110,000
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,636,000
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$7,609,775$845,530-$8,455,305
Depreciation Depletion$140,477$15,609-$156,086
Occupancy$14,811$1,646-$16,457
Fees for Services Legal$5,402$600-$6,002
Fees for Services Accounting$1,935$215-$2,150
Total Functional Expenses$7,772,400$863,600$0$8,636,000
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-
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The tax return is prepared by an outside accounting firm. After completion of said returns, the organization is sent a draft of the tax returns to be reviewed and examined. The organization makes copies of the returns and distributes to those individuals charged with governance. Those individuals at that time can review and if applicable discuss any line items in the return with the accountant who has prepared the return. If all items are found to be acceptable, an authorization is signed and provided to authorize the outside accounting firm to process, sign and provide copies of the returns to be filed (paper or electronically) with the designated governmental agencies. The tax returns are then signed by the organization, stamped and mailed with certified return receipt or the signed form 8879 is provided to the outside accounting firm allowing electronic filing.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Federal Tax Returns are available at guidestar.org & charitynavigator.org.”

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

“Governing documents are available for public inspection at the principal place of business.The conflict of interest policy and the organization's financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
San Francisco College Track Qalicb Inc
EIN
45-2543410
Phone
5108343295
Address
112 Linden Street, Oakland, CA 94607

Signing Officer

Name
Elissa Salas
Title
Director
Signed
2021-03-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elissa Salas
Formed
2011
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Healy and Associates
Address
1200 CONCORD AVE STE 250, CONCORD, CA 94520
Preparer
Husne Siddiqui-Khan
Phone
9256030800
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services

“The organization dissolved and any assets were transferred to College Track, 501c(3) exempt organization with EIN 94-3279613.”

Other Changes In Net Assets Or Fund Balances - Other Increases

“QALICB dissolved by Attorney Generals Office of Ca = $1871606”

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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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IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Note receivable
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0COLLEGE TRACK
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02020-06-24
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0943279613
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt08526000
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501c(3)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0FMV
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0112 LINDEN STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0OAKLAND
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0CA
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd094607
IRS990ScheduleN/EmployeeOfSuccessor2Ind0false
IRS990ScheduleN/OwnerOfSuccessor2Ind0false
IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0College Track, acting in the capacity of leverage lender, lent a total of $6,274,441 to College Track Investment Fund, LLC (CTIF) in exchange for a promissory note bearing interest at 1% per annum and maturing July 19, 2051. CTIF, which is wholly owned by U.S. Bancorp Community Development Corporation, invested the College Track funds, with San Francisco Community Investment Fund (SFCIF). SFCIF ultimately invested $8,526,000 in the form of loans to QALICB SF for a full seismic upgrade and interior renovation of the building.During the year ended June 30, 2012, the construction was completed, and College Track began occupying the facility and paying rent to QALICB SF as master tenant, pursuant to the sublease executed as part of the NMTC financing.During the year ended June 30, 2019, the SFCIF transferred their ownership in the $8,526,000 notes payable from QALICB SF to CTIF. CTIF then transferred the notes to College Track. The effect of the transfer was a gain on transfer of $2,251,559.During the year ended June 30, 2020 QALICB received final approval from the City and County of San Francisco to unwind, and as of June 30,2020, QALICB was recognized by the Attorney Generals Office of California as dissolved. As part of the dissolution, all QALICB assets were acquired by College Track. The total assets transferred over to College Track were $4,751,719, comprising the building for $4,514,680 and cash of $237,039. The note receivable on College Tracks financial statements of $8,526,000 due from QALICB was forgiven, and College Track was able to recognize the deferred ground lease of $1,481,982.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Sch N, Part III, Additional Information
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization dissolved and any assets were transferred to College Track, 501c(3) exempt organization with EIN 94-3279613.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The tax return is prepared by an outside accounting firm. After completion of said returns, the organization is sent a draft of the tax returns to be reviewed and examined. The organization makes copies of the returns and distributes to those individuals charged with governance. Those individuals at that time can review and if applicable discuss any line items in the return with the accountant who has prepared the return. If all items are found to be acceptable, an authorization is signed and provided to authorize the outside accounting firm to process, sign and provide copies of the returns to be filed (paper or electronically) with the designated governmental agencies. The tax returns are then signed by the organization, stamped and mailed with certified return receipt or the signed form 8879 is provided to the outside accounting firm allowing electronic filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Federal Tax Returns are available at guidestar.org & charitynavigator.org.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents are available for public inspection at the principal place of business.The conflict of interest policy and the organization's financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4QALICB dissolved by Attorney Generals Office of Ca = $1871606
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Increases
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd1CO
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IRS990/StatesWhereCopyOfReturnIsFldCd3LA
IRS990/StatesWhereCopyOfReturnIsFldCd4MD
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06655118
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt06655118
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0863600
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07772400
IRS990/TotalFunctionalExpensesGrp/TotalAmt08636000
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08526724
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt08526724
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1871606
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalProgramServiceExpensesAmt07772400
IRS990/TotalProgramServiceRevenueAmt08526000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08636000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08636000
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06655118
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0112 Linden Street
IRS990/USAddress/CityNm0Oakland
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094607
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.san-francisco-college-track-qalicb-inc
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ELISSA SALAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0San Francisco College Track Qalicb Inc
ReturnHeader/Filer/BusinessNameControlTxt0SANF
ReturnHeader/Filer/EIN0452543410
ReturnHeader/Filer/PhoneNum05108343295
ReturnHeader/Filer/USAddress/AddressLine1Txt0112 Linden Street
ReturnHeader/Filer/USAddress/CityNm0Oakland
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094607
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0811489821
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HEALY AND ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01200 CONCORD AVE STE 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094520
ReturnHeader/PreparerPersonGrp/PhoneNum09256030800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Husne Siddiqui-Khan
ReturnHeader/ReturnTs02021-03-26T19:32:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

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