Civic Intelligence

California'S Valued Trust

990 • Fiscal year 2019 • EIN 77-6009955

Oct 01, 2018 to Sep 30, 2019 • Filed on May 28, 2020

520 E Herndon AveFresno, CA 93720

(559) 437-2960

Siviq Scores

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

Liabilities / Assets

90th percentile

0.42x

Higher debt load relative to assets than 90% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

0.08x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Net Margin

37th percentile

1.6%

Higher net margin than 37% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

71st percentile

$269,739

Higher top officer pay than 71% of similar nonprofits.

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

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Asset Growth

22nd percentile

2.7%

Faster asset growth than 22% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

32nd percentile

0.7%

Faster revenue growth than 32% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Assets

Up

$161,910,543

Up $4,275,470 (+2.7%) from 2018

Net Assets

Up

$93,457,108

Up $13,823,554 (+17%) from 2018

Liabilities

Down

$68,453,435

Down $9,548,084 (-12%) from 2018

Revenue

Up

$831,031,329

Up $5,622,198 (+0.7%) from 2018

Expenses

Down

$817,725,860

Down $10,936,998 (-1.3%) from 2018

Net Income

Up

$13,305,469

Up $16,559,196 (+509%) from 2018

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $105,960,246Liabilities 2010: $50,715,638Net Assets 2010: $55,244,6082010Assets 2011: $114,279,129Liabilities 2011: $57,044,713Net Assets 2011: $57,234,4162011Assets 2012: $114,075,587Liabilities 2012: $43,708,700Net Assets 2012: $70,366,8872012Assets 2013: $141,897,238Liabilities 2013: $51,582,294Net Assets 2013: $90,314,9442013Assets 2014: $139,084,972Liabilities 2014: $65,779,776Net Assets 2014: $73,305,1962014Assets 2015: $136,602,572Liabilities 2015: $78,394,637Net Assets 2015: $58,207,9352015Assets 2016: $133,577,786Liabilities 2016: $75,225,469Net Assets 2016: $58,352,3172016Assets 2017: $157,830,155Liabilities 2017: $73,568,200Net Assets 2017: $84,261,9552017Assets 2018: $157,635,073Liabilities 2018: $78,001,519Net Assets 2018: $79,633,5542018Assets 2019: $161,910,543Liabilities 2019: $68,453,435Net Assets 2019: $93,457,1082019Assets 2020: $207,508,043Liabilities 2020: $64,504,329Net Assets 2020: $143,003,7142020Assets 2021: $240,041,607Liabilities 2021: $77,865,346Net Assets 2021: $162,176,2612021Assets 2022: $240,185,223Liabilities 2022: $88,806,247Net Assets 2022: $151,378,9762022Assets 2023: $254,768,905Liabilities 2023: $99,309,008Net Assets 2023: $155,459,8972023Assets 2024: $236,142,276Liabilities 2024: $107,383,040Net Assets 2024: $128,759,2362024Assets 2025: $196,659,654Liabilities 2025: $113,059,122Net Assets 2025: $83,600,5322025

Highlighted filing

2019

Assets$161,910,543
Liabilities$68,453,435
Net Assets$93,457,108

Operations Trend

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

$1.0B$500M$0-$500MExpenses 2010: $528,184,5642010Expenses 2011: $551,936,8892011Expenses 2012: $521,241,6752012Expenses 2013: $525,863,1042013Revenue 2014: $584,088,020Expenses 2014: $605,997,525Net Income 2014: -$21,909,5052014Revenue 2015: $687,528,785Expenses 2015: $692,558,146Net Income 2015: -$5,029,3612015Revenue 2016: $751,482,481Expenses 2016: $756,822,072Net Income 2016: -$5,339,5912016Revenue 2017: $802,457,397Expenses 2017: $781,429,149Net Income 2017: $21,028,2482017Revenue 2018: $825,409,131Expenses 2018: $828,662,858Net Income 2018: -$3,253,7272018Revenue 2019: $831,031,329Expenses 2019: $817,725,860Net Income 2019: $13,305,4692019Revenue 2020: $805,304,048Expenses 2020: $754,880,529Net Income 2020: $50,423,5192020Revenue 2021: $831,896,361Expenses 2021: $825,113,435Net Income 2021: $6,782,9262021Revenue 2022: $775,584,606Expenses 2022: $753,539,698Net Income 2022: $22,044,9082022Revenue 2023: $807,561,352Expenses 2023: $817,257,825Net Income 2023: -$9,696,4732023Revenue 2024: $846,775,532Expenses 2024: $898,191,185Net Income 2024: -$51,415,6532024Revenue 2025: $917,130,736Expenses 2025: $961,368,515Net Income 2025: -$44,237,7792025

Highlighted filing

2019

Revenue$831,031,329
Expenses$817,725,860
Net Income$13,305,469
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
May 28, 2020
Return Version
2018v3.3
Gross Receipts
$844,173,761
Mission and Program Overview

Mission

To provide health and welfare benefits for eligible employees, retirees and their dependents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$79,633,554$93,457,108▲ $13,823,554
Investments in Publicly Traded Securities$69,801,827$73,544,798▲ $3,742,971
Investments Other Securities$54,535,797$55,440,819▲ $905,022
Accounts Receivable$30,552,126$20,130,811▼ $10,421,315
Savings and Temporary Cash Investments$199,686$10,311,028▲ $10,111,342
Land, Buildings, and Equipment, Net$2,275,135$2,165,933▼ $109,202
Prepaid Expenses and Deferred Charges$269,842$316,688▲ $46,846
Cash and Non-Interest-Bearing Accounts$660$466▼ $194
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$157,635,073$161,910,543▲ $4,275,470
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$66,947,465$59,806,639▼ $7,140,826
Deferred Revenue$6,776,426$7,599,067▲ $822,641
Accounts Payable and Accrued Expenses$4,277,628$1,047,729▼ $3,229,899
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$78,001,519$68,453,435▼ $9,548,084
Net Assets / Fund Balance
Total Net Assets Fund Balance$79,633,554$93,457,108▲ $13,823,554
Total Liabilities and Net Assets / Fund Balance$157,635,073$161,910,543▲ $4,275,470

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$565,094$2,658,565$3,223,659
Buildings$588,839$994,344$1,583,183
Land$1,012,000-$1,012,000
Leasehold Improvements-$29,443$29,443
Other Securities$18,076,522--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Valerie CornuelleExecutive DirectorFT$231,851$37,888$269,739
Robert PowersDirector of Financial ServicesFT$153,383$32,003$185,386
Jeff CorneliusDirector of Strategic InitiativesFT$127,608$30,070$157,678
Brook PaulsenIt ManagerFT$112,546$28,940$141,486
Eric FiedlerAccount ManagerFT$113,668$27,008$140,676
John MedearisBusiness Systems AnalystFT$106,411$28,480$134,891
Mai ThaoSenior AccountantFT$105,907$26,426$132,333
Anthony ParreiraTrustee--$205$205
Chad WoodTrustee--$205$205
Debra ColeTrustee--$205$205
Elaine CashTrustee--$205$205
Elizabeth ZuluetaTrustee--$205$205
John PestorichTrustee--$205$205
Keith PaceTrustee--$205$205
Larry YeghoianTrustee--$205$205
Nancy SmithTrustee--$205$205
Sue EusticeTrustee--$205$205

Board Members and Trustees

NameTitle
Carole Anne LuckenbachTrustee
chuck kingTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Anthem Blue Crossclaims admin service11050 Olson Dr Ste 110, Rancho Cordova, CA 95670$17,725,923
Delta DentalClaims admin service100 First St 6th Fl, San Francisco, CA 94105$3,845,645
Blue Shield Of CaliforniaAdmin Service50 BEALE ST, San Francisco, CA 94105$2,609,993
health compclaims admin servicepo box 45018, Fresno, CA 93718$1,196,553
Blue Shield of CaliforniaClaims Admin Service50 Beale St, San Francisco, CA 94105$1,116,857
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$825,354,286
Investment Income
$5,303,835
Other Revenue
$373,208
Change in Net Assets
$13,305,469

Audited Revenue Reconciliation

Revenue per Audited Statements
$788,018,753
Revenue Not Reported on Financial Statements
$43,012,576
Revenue Not Reported on Form 990
$518,085
Other Revenue Adjustments
$42,856,080
Total Revenue per Audited Statements
$788,536,838
Total Revenue per Form 990
$831,031,329
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,875,283
Salaries, Compensation, and Employee Benefits$5,185,036
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$777,665,541
Fees for Services Other---$32,107,432
Other Salaries and Wages---$3,110,365
Other Employee Benefits---$1,123,636
Office Expenses---$752,841
Current Officers, Directors, Trustees, and Key Employees---$465,396
Depreciation Depletion---$395,616
Advertising---$266,313
Payroll Taxes---$261,396
Fees for Services Legal---$240,000
Pension Plan Contributions---$224,243
Travel---$214,198
Other Expenses---$200,812
Fees for Services Accounting---$171,077
Fees for Service Investment Mgmnt Fees---$156,496
Conferences and Meetings---$138,329
Occupancy---$114,899
Insurance---$101,217
Information Technology---$16,053
Total Functional Expenses$0$0$0$817,725,860

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$824,562,632
Total Expenses per Form 990$817,725,860
Total Expenses per Audited Statements$781,706,552
Expenses Not Reported on Financial Statements$-6,836,772
Other Expense Adjustments$-6,993,268
Expenses Not Reported on Form 990$-42,856,080
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Not Paid$56,455,867
Postretirement Benefit Cost$2,495,800
Obligations for Benefit of Others$854,972
Claims Payable and Incurred But$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
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
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

PART VI, SECTION B, LINE 11B:

A copy of the form 990 was provided to the plan's governing body prior to the form 990 being filed. The form 990 was reviewed by the plan's audit committee and the director of financial services before it was filed. Part vi, section b, line 12c: at least annually, directors and other fiduciaries are asked to disclose any relationships or interests that could give rise to a conflict. If there is a conflict of interest, the conflicting interest is fully disclosed and documented in writing. The director or fiduciary with the conflict of interest is excluded from the discussion and approval of such transactions; the board determines if the transaction is in the best interest of the plan, and the terms of the transaction are fair with respect to terms available through arms-length transactions in the marketplace. Part vi, section b, line 15: compensation for the executive director was approved by the board of trustees in 2017. Part vi, section c, line 19: the plan makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Part vii, section a, column e: any trustees' compensation and/or benefits from the related tax-exempt organizations are available at the trust. Part xii, line 2c: the audit committee assumes responsibility for oversight of both the audit and the selection of the certified public accountants that audit the plan's financial statements. The full board annually approves the audit and any change to the certified public accountants.

Filing and Contact Details

Filer

Filer Name
California's Valued Trust
EIN
77-6009955
In Care Of
% ROBERT POWERS
Phone
5594372960
Address
520 E Herndon Ave, Fresno, CA 93720

Signing Officer

Name
Robert Powers
Title
Director of Financial Svc
Phone
5594372960
Signed
2020-05-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Valerie Cornuelle
Formed
1984
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
7
Employees
41
Volunteers
0

Preparer

Firm
Miller Kaplan Arase Llp
Address
TWO EMBARCADERO CTR STE 2280, SAN FRANCISCO, CA 94111-3916
Preparer
Catherine Gardner
Phone
4159563600
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the plan and recognize a tax liability if the plan has taken a tax position that more likely than not would not be sustained upon examination by a tax authority. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Part xi, line 4b: stop-loss reimbursements $ 5,136,749 drug rebates 37,719,331 total 42,856,080 part xii, line 2d: stop-loss reimbursements ($ 5,136,749) drug rebates ( 37,719,331) total ( 42,856,080) part xii, line 4b: change in benefit obligations ($ 6,993,268)

Raw XML AppendixShowing 400 of 630 raw XML fields

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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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$197$113$83.6$917$961$44.2
2024Detailed filing. Detailed filing data is available for this year.$236$107$129$847$898$51.4
2023Detailed filing. Detailed filing data is available for this year.$255$99.3$155$808$817$9.70
2022Detailed filing. Detailed filing data is available for this year.$240$88.8$151$776$754$22.0
2021Detailed filing. Detailed filing data is available for this year.$240$77.9$162$832$825$6.78
2020Detailed filing. Detailed filing data is available for this year.$208$64.5$143$805$755$50.4
2019Detailed filing. Detailed filing data is available for this year.$162$68.5$93.5$831$818$13.3
2018Detailed filing. Detailed filing data is available for this year.$158$78.0$79.6$825$829$3.25
2017Detailed filing. Detailed filing data is available for this year.$158$73.6$84.3$802$781$21.0
2016Detailed filing. Detailed filing data is available for this year.$134$75.2$58.4$751$757$5.34
2015Detailed filing. Detailed filing data is available for this year.$137$78.4$58.2$688$693$5.03
2014Detailed filing. Detailed filing data is available for this year.$139$65.8$73.3$584$606$21.9
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$142$51.6$90.3$526
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$114$43.7$70.4$521
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$114$57.0$57.2$552
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$50.7$55.2$528