Civic Intelligence

Central Valley School District Financing Corporation

990 • Fiscal year 2016 • EIN 77-0129270

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 15, 2017

Organization ProfileN/A
1450 Herndon AvenueClovis, CA 93611

(559) 327-9000

Siviq Scores

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

Liabilities / Assets

79th percentile

0.37x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

80th percentile

0.97x

Higher debt load relative to revenue than 80% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

59th percentile

$0

Higher top officer pay than 59% of similar nonprofits.

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

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Asset Growth

46th percentile

1.2%

Faster asset growth than 46% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

36th percentile

-1.5%

Faster revenue growth than 36% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$1,035,495

Up $11,816 (+1.2%) from 2015

Net Assets

Up

$650,495

Up $381,816 (+142%) from 2015

Liabilities

Down

$385,000

Down $370,000 (-49%) from 2015

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin98th percentile

Revenue

Down

$398,804

Down $6,078 (-1.5%) from 2015

Expenses

Down

$16,988

Down $24,975 (-60%) from 2015

Net Income

Up

$381,816

Up $18,897 (+5.2%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$20M$10M$0-$10MAssets 2011: $13,189,457Liabilities 2011: $18,175,000Net Assets 2011: -$4,985,5432011Assets 2012: $8,588,595Liabilities 2012: $14,330,000Net Assets 2012: -$5,741,4052012Assets 2013: $4,565,295Liabilities 2013: $10,930,000Net Assets 2013: -$6,364,7052013Assets 2014: $1,015,760Liabilities 2014: $1,110,000Net Assets 2014: -$94,2402014Assets 2015: $1,023,679Liabilities 2015: $755,000Net Assets 2015: $268,6792015Assets 2016: $1,035,495Liabilities 2016: $385,000Net Assets 2016: $650,4952016Assets 2017: $1,447,755Liabilities 2017: $393,663Net Assets 2017: $1,054,0922017Assets 2018: $1,075,295Liabilities 2018: $0Net Assets 2018: $1,075,2952018Assets 2019: $1,098,267Liabilities 2019: $0Net Assets 2019: $1,098,2672019Assets 2020: $81,326Liabilities 2020: $0Net Assets 2020: $81,3262020Assets 2021: $84,173Liabilities 2021: $82,988Net Assets 2021: $1,1852021

Highlighted filing

2016

Assets$1,035,495
Liabilities$385,000
Net Assets$650,495
Open 2016 Filing

Operations Trend

Revenue Growth36th percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2011: $0Expenses 2011: $977,043Net Income 2011: -$977,0432011Revenue 2012: $0Expenses 2012: $755,862Net Income 2012: -$755,8622012Revenue 2013: $0Expenses 2013: $623,300Net Income 2013: -$623,3002013Revenue 2014: $39,993Expenses 2014: $433,921Net Income 2014: -$393,9282014Revenue 2015: $404,882Expenses 2015: $41,963Net Income 2015: $362,9192015Revenue 2016: $398,804Expenses 2016: $16,988Net Income 2016: $381,8162016Revenue 2017: $412,260Expenses 2017: $8,663Net Income 2017: $403,5972017Revenue 2018: $21,203Expenses 2018: $0Net Income 2018: $21,2032018Revenue 2019: $22,972Expenses 2019: $0Net Income 2019: $22,9722019Revenue 2020: $22,370Expenses 2020: $0Net Income 2020: $22,3702020Revenue 2021: $2,847Expenses 2021: $0Net Income 2021: $2,8472021

Highlighted filing

2016

Revenue$398,804
Expenses$16,988
Net Income$381,816
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 15, 2017
Return Version
2015v3.0
Gross Receipts
$398,804
Mission and Program Overview

Mission

The corporation was formed for the primary purpose of providing financial assistance to the clovis unified school district and fresno unified school district as well as other public agencies for construction, acquisition, improvement and remodeling of public school buildings and facilities.

The corporation was formed for the primary purpose of providing financial assistance to the Clovis Unified School District for construction, acquisition, improvement and remodeling of public school buildings and facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,021,412$1,031,950▲ $10,538
Accounts Receivable$2,267$3,545▲ $1,278
Cash and Non-Interest-Bearing Accounts-$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$1,023,679$1,035,495▲ $11,816
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$755,000$385,000▼ $370,000
Total Liabilities$755,000$385,000▼ $370,000
Net Assets / Fund Balance
Unrestricted Net Assets$268,679$650,495▲ $381,816
Total Net Assets Fund Balance$268,679$650,495▲ $381,816
Total Liabilities and Net Assets / Fund Balance$1,023,679$1,035,495▲ $11,816
Compensation and Service Providers
Top Officer Pay59th percentile

Board Members and Trustees

NameTitle
Ginny HovsepianChairman
Michael JohnstonFiscal Officer
Brian HeryfordMember
Michelle AsadoorianMember
Revenue and Support

Revenue Composition

Contributions and Grants
$386,988
Program Service Revenue
$0
Investment Income
$11,816
Other Revenue
$0
All Other Contributions
$386,988
Change in Net Assets
$381,816
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,988
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-$16,988-$16,988
Total Functional Expenses$0$16,988$0$16,988
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
AClovis USD2005-12-01$7,820,000Construction/Modernization

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,046,504--$110,591

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

“The key members of the Organization review the Form 990 before it is filed. Although this not always acheived during a board meeting, the members are provided a copy of the Form 990 for review.”

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

“The Organization meets regularly in conjunction with the Board meeting for Clovis Unified School District. The voting members of the Organization Board are also members of the Clovis Unified School District Board and the same policy is enforced by Clovis Unified School District.”

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

“The Organization makes it governing documents, conflict of interest policy and financial statements available to the public upon request. Information is provided by contacting the organization's Secretary.”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Central Valley School District Financing
EIN
77-0129270
Phone
5593279000
Address
1450 Herndon Avenue, Clovis, CA 93611

Signing Officer

Name
Michael Johnston
Title
Fiscal Officer
Signed
2017-02-15
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
CA
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Vavrinek Trine Day & Co LLP
Address
5000 Hopyard Road Suite 335, Pleasanton, CA 94588-3351
Preparer
Terri Montgomery
Phone
9257346600
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The key members of the Organization review the Form 990 before it is filed. Although this not always acheived during a board meeting, the members are provided a copy of the Form 990 for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization meets regularly in conjunction with the Board meeting for Clovis Unified School District. The voting members of the Organization Board are also members of the Clovis Unified School District Board and the same policy is enforced by Clovis Unified School District.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization makes it governing documents, conflict of interest policy and financial statements available to the public upon request. Information is provided by contacting the organization's Secretary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
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
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016988
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt016988
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0755000
IRS990/TotalLiabilitiesEOYAmt0385000
IRS990/TotalLiabilitiesGrp/BOYAmt0755000
IRS990/TotalLiabilitiesGrp/EOYAmt0385000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0268679
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0650495
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011816
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0398804
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01023679
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01035495
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0268679
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0650495
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Michael Johnston
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Fiscal Officer
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Central Valley School District Financing
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Corporation
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0770129270
ReturnHeader/Filer/PhoneNum05593279000
ReturnHeader/Filer/USAddress/AddressLine1Txt01450 Herndon Avenue
ReturnHeader/Filer/USAddress/CityNm0Clovis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd093611
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Vavrinek Trine Day & Co LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05000 Hopyard Road Suite 335
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Pleasanton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0945883351
ReturnHeader/PreparerPersonGrp/PhoneNum09257346600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TERRI MONTGOMERY
ReturnHeader/ReturnTs02017-02-15T22:32:12-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,035,495
Liabilities
$385,000
Net assets
$650,495
Revenue
$398,804
Expenses
$16,988
Net income
$381,816
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.08$0.08$0.00$0.00$0.00$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.02$0.00$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.02$0.00$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.08$0.00$1.08$0.02$0.00$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.45$0.39$1.05$0.41$0.01$0.40
2016Detailed filing. Detailed filing data is available for this year.$1.04$0.39$0.65$0.40$0.02$0.38
2015Summary only. Only limited summary data is available for this year.$1.02$0.76$0.27$0.40$0.04$0.36
2014Summary only. Only limited summary data is available for this year.$1.02$1.11$0.09$0.04$0.43$0.39
2013Summary only. Only limited summary data is available for this year.$4.57$10.9$6.36$0.00$0.62$0.62
2012Summary only. Only limited summary data is available for this year.$8.59$14.3$5.74$0.00$0.76$0.76
2011Summary only. Only limited summary data is available for this year.$13.2$18.2$4.99$0.00$0.98$0.98