Civic Intelligence

Virginia Smith Testamentary Charitable Trust 082075

990 • Fiscal year 2018 • EIN 77-0295858

Jul 01, 2017 to Jun 30, 2018 • Filed on May 05, 2019

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

8th percentile

0.01x

Higher debt load relative to assets than 8% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

68th percentile

0.60x

Higher debt load relative to revenue than 68% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

90th percentile

47%

Higher net margin than 90% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

36th percentile

$200,059

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 60.9% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

46th percentile

1.6%

Faster asset growth than 46% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Up

$33,966,968

Up $544,095 (+1.6%) from 2017

Net Assets

Up

$33,770,214

Up $452,874 (+1.4%) from 2017

Liabilities

Up

$196,754

Up $91,221 (+86%) from 2017

Revenue

Down

$328,650

Down $31,732,151 (-99%) from 2017

Expenses

Down

$173,819

Down $3,752,295 (-96%) from 2017

Net Income

Down

$154,831

Down $27,979,856 (-99%) from 2017

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

2018

Assets$33,966,968
Liabilities$196,754
Net Assets$33,770,214

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

2018

Revenue$328,650
Expenses$173,819
Net Income$154,831
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 5, 2019
Return Version
2017v2.2
Gross Receipts
$328,650
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$28,521,046▲ $617,777
Investments Program Related$5,297,818$5,392,956▲ $95,138
Cash and Non-Interest-Bearing Accounts$221,786$52,966▼ $168,820
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 in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$33,422,873$33,966,968▲ $544,095
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$62,979$101,754▲ $38,775
Other Liabilities$42,554$95,000▲ $52,446
Total Liabilities$105,533$196,754▲ $91,221
Net Assets / Fund Balance
Unrestricted Net Assets$29,337,629$29,499,836▲ $162,207
Permanently Rstr Net Assets$3,979,711$4,270,378▲ $290,667
Total Net Assets Fund Balance$33,317,340$33,770,214▲ $452,874
Total Liabilities and Net Assets / Fund Balance$33,422,873$33,966,968▲ $544,095

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$956,153--
Land$27,564,893--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$3,979,711-▲ $360,667-$4,270,378
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
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Janet RileyFin. Advisor-$148,493$148,493
Fred HonoreMember$1,890-$1,890
Tom BatesChairperson$1,890-$1,890
Chris ChavezMember$1,540-$1,540
Dennis HanksMember$1,540-$1,540
Stan MollartVice-Chair$1,330-$1,330

Board Members and Trustees

NameTitle
Steve M TietjenTrust Advisor
Revenue and Support

Revenue Composition

Contributions and Grants
$28,850
Program Service Revenue
$0
Investment Income
$199,778
Other Revenue
$100,022
All Other Contributions
$28,850
Change in Net Assets
$154,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$328,650
Revenue Not Reported on Form 990
$298,043
Total Revenue per Audited Statements
$626,693
Total Revenue per Form 990
$328,650
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$102,849
Grants and Similar Amounts Paid$62,500
Salaries, Compensation, and Employee Benefits$8,470
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$62,500--$62,500
Fees for Services Legal-$36,754-$36,754
Current Officers, Directors, Trustees, and Key Employees-$8,470-$8,470
Fees for Services Accounting-$3,000-$3,000
Other Expenses-$2,978-$2,978
Total Functional Expenses$62,500$111,319$0$173,819

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$173,819
Total Expenses per Audited Statements$173,819
Total Expenses per Form 990$173,819
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
Credit Line$95,000
Governance and Compliance

Governance Checklist

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

The form was provided in advance to filing to management. Any changes identified as needed were made as/if needed.

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
Fin. Invsmt.
Signed
2019-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Bates
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
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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/GoverningDocumentListedInd0true
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/BeginningYearBalanceAmt03979711
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt04270378
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0-70000
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0360667
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt03486052
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt03979711
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-21000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0514659
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt03664903
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03486052
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-49000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-129851
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt03467946
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt03664903
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-60000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0256957
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02994309
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03467946
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0-53000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0526637
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0173819
IRS990ScheduleD/LandGrp/BookValueAmt027564893
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt027564893
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0298043
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0956153
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0956153
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt095000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Credit Line
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/RevenueNotReportedAmt0298043
IRS990ScheduleD/RevenueSubtotalAmt0328650
IRS990ScheduleD/TotalBookValueLandBuildingsAmt028521046
IRS990ScheduleD/TotalBookValueProgramRltdAmt05392956
IRS990ScheduleD/TotalExpensesPerForm990Amt0173819
IRS990ScheduleD/TotalLiabilityAmt095000
IRS990ScheduleD/TotalRevenuePerForm990Amt0328650
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0626693
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0173819
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt062500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt029
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0186509
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt013550
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Steve M Tietjen
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Trust Advisor
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0200059
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form was provided in advance to filing to management. Any changes identified as needed were made as/if needed.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Merced County Office of Education
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0956002379
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Education of students
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Governmental
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0632 West 13th Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Merced
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd095340
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false

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