Civic Intelligence

Virginia Smith Testamentary Charitable Trust 082075

990 • Fiscal year 2017 • EIN 77-0295858

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

632 West 13th StreetMerced, CA 95340

(209) 381-6604

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

4th percentile

0.00x

Higher debt load relative to revenue than 4% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

98th percentile

88%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$211,805

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

99th percentile

616%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

100th percentile

24946%

Faster revenue growth than 100% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$33,422,873

Up $28,753,365 (+616%) from 2016

Net Assets

Up

$33,317,340

Up $28,653,207 (+614%) from 2016

Liabilities

Up

$105,533

Up $100,158 (+1863%) from 2016

Revenue

Up

$32,060,801

Up $31,932,791 (+24946%) from 2016

Expenses

Up

$3,926,114

Up $3,729,000 (+1892%) from 2016

Net Income

Up

$28,134,687

Up $28,203,791 (+40814%) from 2016

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $5,784,792Liabilities 2011: $7,019Net Assets 2011: $5,777,7732011Assets 2012: $5,819,812Liabilities 2012: $5,379Net Assets 2012: $5,814,4332012Assets 2013: $4,953,831Liabilities 2013: $6,782Net Assets 2013: $4,947,0492013Assets 2014: $4,598,395Liabilities 2014: $6,206Net Assets 2014: $4,592,1892014Assets 2015: $4,909,340Liabilities 2015: $6,285Net Assets 2015: $4,903,0552015Assets 2016: $4,669,508Liabilities 2016: $5,375Net Assets 2016: $4,664,1332016Assets 2017: $33,422,873Liabilities 2017: $105,533Net Assets 2017: $33,317,3402017Assets 2018: $33,966,968Liabilities 2018: $196,754Net Assets 2018: $33,770,2142018Assets 2019: $34,132,051Liabilities 2019: $275,383Net Assets 2019: $33,856,6682019Assets 2020: $34,177,561Liabilities 2020: $213,786Net Assets 2020: $33,963,7752020

Highlighted filing

2017

Assets$33,422,873
Liabilities$105,533
Net Assets$33,317,340

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2011: $245,742Expenses 2011: $178,224Net Income 2011: $67,5182011Revenue 2012: $231,736Expenses 2012: $153,082Net Income 2012: $78,6542012Revenue 2013: $183,001Expenses 2013: $159,367Net Income 2013: $23,6342013Revenue 2014: $184,560Expenses 2014: $161,420Net Income 2014: $23,1402014Revenue 2015: $134,193Expenses 2015: $175,443Net Income 2015: -$41,2502015Revenue 2016: $128,010Expenses 2016: $197,114Net Income 2016: -$69,1042016Revenue 2017: $32,060,801Expenses 2017: $3,926,114Net Income 2017: $28,134,6872017Revenue 2018: $328,650Expenses 2018: $173,819Net Income 2018: $154,8312018Revenue 2019: $775,931Expenses 2019: $834,397Net Income 2019: -$58,4662019Revenue 2020: $101,266Expenses 2020: $218,908Net Income 2020: -$117,6422020

Highlighted filing

2017

Revenue$32,060,801
Expenses$3,926,114
Net Income$28,134,687
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.0
Gross Receipts
$32,060,801
Mission and Program Overview

Mission

To provide the merced county office of education the ability to provide scholarship funds for students to attend higher institutions of learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$27,903,269-
Investments Program Related$4,756,043$5,297,818▲ $541,775
Cash and Non-Interest-Bearing Accounts$247,705$221,786▼ $25,919
Accounts Receivable$49,212$0▼ $49,212
Savings and Temporary Cash Investments-$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 in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$4,669,508$33,422,873▲ $28,753,365
Other Assets Total$-383,452$0▲ $383,452
Liabilities
Accounts Payable and Accrued Expenses$4,576$62,979▲ $58,403
Other Liabilities$799$42,554▲ $41,755
Total Liabilities$5,375$105,533▲ $100,158
Net Assets / Fund Balance
Unrestricted Net Assets$1,178,081$29,337,629▲ $28,159,548
Permanently Rstr Net Assets$3,486,052$3,979,711▲ $493,659
Total Net Assets Fund Balance$4,664,133$33,317,340▲ $28,653,207
Total Liabilities and Net Assets / Fund Balance$4,669,508$33,422,873▲ $28,753,365

Asset Categories

AssetBook ValueDepreciationBasis
Land$27,564,893-$27,564,893
Other Land Buildings$338,376-$338,376

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$3,486,052-▲ $514,659-$3,979,711
2015$3,664,903-▼ $129,851-$3,486,052
2014$3,467,946-▲ $256,957-$3,664,903
2013$2,994,309-▲ $526,637-$3,467,946
2012$2,718,553-▲ $325,756-$2,994,309
Compensation and Service Providers

Employees

NameTitleBaseTotal
Thomas BatesVice Chair$1,917$1,917
Dennis HanksMember$1,717$1,717
Fred HonoreMember$1,708$1,708
Chris ChavezChairman$1,419$1,419
Gloria HoneyMember$726$726
Stan MollartMember$432$432

Board Members and Trustees

NameTitle
Janet RileyFinan. Advisor
Steve M TietjenTrust Advisor
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$41,103
Other Revenue
$32,019,698
Change in Net Assets
$28,134,687

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,060,801
Total Revenue per Audited Statements
$32,060,801
Total Revenue per Form 990
$32,060,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,830,194
Grants and Similar Amounts Paid$88,500
Salaries, Compensation, and Employee Benefits$7,420
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$88,500--$88,500
Fees for Services Legal-$38,817-$38,817
Current Officers, Directors, Trustees, and Key Employees-$7,420-$7,420
Fees for Services Accounting-$7,000-$7,000
Other Expenses-$2,260-$2,260
Total Functional Expenses$88,500$3,837,614$0$3,926,114

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,926,114
Total Expenses per Audited Statements$3,926,114
Total Expenses per Form 990$3,926,114
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

Other Reported Liabilities

LiabilityAmount
Due to Merced COE$42,554
Governance and Compliance

Governance Checklist

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

No review was or will be conducted.

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

Governing documents, policies and financial statements are available to the public upon request.

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

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Virginia Smith Trust
EIN
77-0295858
Phone
2093816604
Address
632 West 13th Street, Merced, CA 95340

Signing Officer

Name
Janet Riley
Title
Financial Advisor
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Chavez
Formed
1975
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Vavrinek Trine Day & Co LLP
Address
5000 Hopyard Road Suite 335, Pleasanton, CA 94588-3351
Preparer
Aj Major
Phone
9257346600
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

To provide the Merced County Office of Education the ability to provide scholarship funds for students to attend higher institutions of learning.

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Chris Chavez
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt080833
IRS990/PYInvestmentIncomeAmt028010
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt059685
IRS990/PYOtherRevenueAmt0100000
IRS990/PYRevenuesLessExpensesAmt0-69104
IRS990/PYSalariesCompEmpBnftPaidAmt056596
IRS990/PYTotalExpensesAmt0197114
IRS990/PYTotalRevenueAmt0128010
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt028134687
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt090797
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd0true
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0956002379
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0false
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Merced County Office of Education
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt03486052
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt03979711
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0-21000
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0514659
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt03664903
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt03486052
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-49000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-129851
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt03467946
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03664903
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-60000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0256957
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02994309
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt03467946
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-53000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0526637
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02718553
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02994309
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-50000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0325756
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesSubtotalAmt03926114
IRS990ScheduleD/LandGrp/BookValueAmt027564893
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt027564893
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0338376
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0338376
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt042554
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Merced COE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/RevenueSubtotalAmt032060801
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0To provide the Merced County Office of Education the ability to provide scholarship funds for students to attend higher institutions of learning.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4: Intended uses of the endowment fund.
IRS990ScheduleD/TotalBookValueLandBuildingsAmt027903269
IRS990ScheduleD/TotalBookValueProgramRltdAmt05297818
IRS990ScheduleD/TotalExpensesPerForm990Amt03926114
IRS990ScheduleD/TotalLiabilityAmt042554
IRS990ScheduleD/TotalRevenuePerForm990Amt032060801
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt032060801
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03926114
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt088500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt030
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0726
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0143349
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1193473
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt014918
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt118332
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Gloria Honey
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Janet Riley
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2Steve M Tietjen
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Member
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Finan. Advisor
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2Trust Advisor
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0726
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0158267
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1211805
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing documents, policies and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

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