Civic Intelligence

California'S Valued Trust

990 • Fiscal year 2021 • EIN 77-6009955

Oct 01, 2020 to Sep 30, 2021 • Filed on Mar 07, 2022

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

87th percentile

0.32x

Higher debt load relative to assets than 87% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

60th percentile

0.09x

Higher debt load relative to revenue than 60% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Net Margin

35th percentile

0.8%

Higher net margin than 35% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

74th percentile

$282,822

Higher top officer pay than 74% of similar nonprofits.

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

2021 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2021

Asset Growth

77th percentile

16%

Faster asset growth than 77% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Revenue Growth

40th percentile

3.3%

Faster revenue growth than 40% of similar nonprofits.

2021 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Assets

Up

$240,041,607

Up $32,533,564 (+16%) from 2020

Net Assets

Up

$162,176,261

Up $19,172,547 (+13%) from 2020

Liabilities

Up

$77,865,346

Up $13,361,017 (+21%) from 2020

Revenue

Up

$831,896,361

Up $26,592,313 (+3.3%) from 2020

Expenses

Up

$825,113,435

Up $70,232,906 (+9.3%) from 2020

Net Income

Down

$6,782,926

Down $43,640,593 (-87%) from 2020

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

2021

Assets$240,041,607
Liabilities$77,865,346
Net Assets$162,176,261

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

2021

Revenue$831,896,361
Expenses$825,113,435
Net Income$6,782,926
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Mar 7, 2022
Return Version
2020v4.1
Gross Receipts
$868,065,413
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$175,194,752$204,847,755▲ $29,653,003
Rtn Earn Endowment Incm Other Fnds$143,003,714$162,176,261▲ $19,172,547
Accounts Receivable$23,293,305$24,476,242▲ $1,182,937
Savings and Temporary Cash Investments$6,642,872$8,528,978▲ $1,886,106
Land, Buildings, and Equipment, Net$2,067,505$1,921,271▼ $146,234
Prepaid Expenses and Deferred Charges$309,489$267,242▼ $42,247
Cash and Non-Interest-Bearing Accounts$120$119▼ $1
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 Other Securities$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$207,508,043$240,041,607▲ $32,533,564
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$56,901,886$69,271,288▲ $12,369,402
Deferred Revenue$6,650,868$7,101,911▲ $451,043
Accounts Payable and Accrued Expenses$951,575$1,492,147▲ $540,572
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$64,504,329$77,865,346▲ $13,361,017
Net Assets / Fund Balance
Total Net Assets Fund Balance$143,003,714$162,176,261▲ $19,172,547
Total Liabilities and Net Assets / Fund Balance$207,508,043$240,041,607▲ $32,533,564

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$417,909$3,173,050$3,590,958
Buildings$491,362$1,088,337$1,579,699
Land$1,012,000-$1,012,000
Leasehold Improvements$0$29,443$29,443
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Valerie CornuelleExecutive DirectorFT$242,958$39,864$282,822
Robert PowersDirector of Financial ServicesFT$161,042$33,720$194,762
Jeff CorneliusDirector of Strategic InitiativesFT$132,073$31,547$163,620
Brook PaulsenIt ManagerFT$117,582$30,461$148,043
TIERNEY O'BRIENDirector of Marketing & Bus DevFT$113,723$30,146$143,869
Nolan ClinardBusiness AnalystFT$111,725$30,021$141,746
Mai ThaoSenior AccountantFT$109,625$27,467$137,092
Anthony ParreiraDirector-$205-$205
Chad WoodDirector-$205-$205
Debra ColeDirector-$205-$205
Elaine CashDirector-$205-$205
John PestorichDirector-$205-$205
Keith PaceDirector-$205-$205
Nancy SmithDirector-$205-$205
Sue EusticeDirector-$205-$205
Elizabeth ZuluetaDirector-$80-$80

Board Members and Trustees

NameTitle
Carole Anne LuckenbachDirector
Ken JohnsonDirector
chuck kingDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Anthem Blue Crossclaims admin service11050 Olson Dr Ste 110, Rancho Cordova, CA 95670$15,756,268
Delta DentalClaims admin service100 First St 6th Fl, San Francisco, CA 94105$3,584,944
Blue Shield Of California AsoClaims Admin Service50 BEALE ST, San Francisco, CA 94105$1,549,049
PrudentrxClaims Admin Service3820 NORTHDALE BLVD STE 311-A, Tampa, FL 33624$1,335,627
Blue Shield Of California Hmoadmin service50 BEALE ST, San Francisco, CA 94105$1,165,392
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$816,655,719
Investment Income
$14,659,155
Other Revenue
$581,487
Change in Net Assets
$6,782,926

Audited Revenue Reconciliation

Revenue per Audited Statements
$776,081,327
Revenue Not Reported on Financial Statements
$55,815,034
Revenue Not Reported on Form 990
$12,389,621
Other Revenue Adjustments
$55,632,861
Total Revenue per Audited Statements
$788,470,948
Total Revenue per Form 990
$831,896,361
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$32,270,897
Salaries, Compensation, and Employee Benefits$4,998,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$787,844,013
Fees for Services Other---$29,990,118
Other Salaries and Wages---$3,264,599
Other Employee Benefits---$794,837
Office Expenses---$606,030
Current Officers, Directors, Trustees, and Key Employees---$479,304
Depreciation Depletion---$239,866
Information Technology---$232,803
Pension Plan Contributions---$230,606
Payroll Taxes---$229,179
Fees for Services Legal---$204,000
Other Expenses---$200,935
Advertising---$188,196
Fees for Service Investment Mgmnt Fees---$182,173
Fees for Services Accounting---$156,020
Occupancy---$129,670
Insurance---$111,116
Travel---$27,905
Conferences and Meetings---$2,065
Total Functional Expenses$0$0$0$825,113,435

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$825,113,435
Expenses per Audited Statements$813,135,112
Total Expenses per Audited Statements$757,502,251
Expenses Not Reported on Financial Statements$11,978,323
Other Expense Adjustments$11,796,150
Expenses Not Reported on Form 990$-55,632,861
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$64,599,020
Postretirement Benefit Cost$2,789,200
Others$1,883,068
Claims Payable and Incurred But$0
Obligations for the Benefit of$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 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
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 being filed and 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. 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
Valerie Cornuelle
Title
Executive Director
Phone
5594372960
Signed
2022-03-07
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
42
Volunteers
0

Preparer

Firm
Miller Kaplan Arase Llp
Address
275 BATTERY ST STE 1800, SAN FRANCISCO, CA 94111-3346
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 $ 5,522,514 drug rebates, discounts and reinsurance 50,110,347 total 55,632,861 part xii, line 2d: stop-loss reimbursements ($ 5,522,514) drug rebates, discounts and reinsurance ( 50,110,347) total ( 55,632,861) part xii, line 4b: change in benefit obligations $11,796,150

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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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IRS990/Form990PartVIISectionAGrp/PersonNm13Anthony Parreira
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IRS990/Form990PartVIISectionAGrp/PersonNm15Elizabeth Zulueta
IRS990/Form990PartVIISectionAGrp/PersonNm16chuck king
IRS990/Form990PartVIISectionAGrp/PersonNm17Carole Anne Luckenbach
IRS990/Form990PartVIISectionAGrp/PersonNm18Ken Johnson
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Dir. of Financial Services
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIR. OF STRATEGIC INITIATIVES
IRS990/Form990PartVIISectionAGrp/TitleTxt3IT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIR OF MARKETING & BUS DEV
IRS990/Form990PartVIISectionAGrp/TitleTxt5Business Analyst
IRS990/Form990PartVIISectionAGrp/TitleTxt6SENIOR ACCOUNTANT
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0267242
IRS990/PrincipalOfficerNm0Valerie Cornuelle
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
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IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0EMPLOYER CONTRIBUTIONS

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