Civic Intelligence

California'S Valued Trust

990 • Fiscal year 2022 • EIN 77-6009955

Oct 01, 2021 to Sep 30, 2022 • Filed on Feb 21, 2023

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

86th percentile

0.37x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.11x

Higher debt load relative to revenue than 58% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Net Margin

54th percentile

2.8%

Higher net margin than 54% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

75th percentile

$291,548

Higher top officer pay than 75% of similar nonprofits.

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

2022 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2022

Asset Growth

77th percentile

0.1%

Faster asset growth than 77% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

35th percentile

-6.8%

Faster revenue growth than 35% of similar nonprofits.

2022 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Assets

Up

$240,185,223

Up $143,616 (+0.1%) from 2021

Net Assets

Down

$151,378,976

Down $10,797,285 (-6.7%) from 2021

Liabilities

Up

$88,806,247

Up $10,940,901 (+14%) from 2021

Revenue

Down

$775,584,606

Down $56,311,755 (-6.8%) from 2021

Expenses

Down

$753,539,698

Down $71,573,737 (-8.7%) from 2021

Net Income

Up

$22,044,908

Up $15,261,982 (+225%) from 2021

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

2022

Assets$240,185,223
Liabilities$88,806,247
Net Assets$151,378,976

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

2022

Revenue$775,584,606
Expenses$753,539,698
Net Income$22,044,908
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Feb 21, 2023
Return Version
2021v4.2
Gross Receipts
$785,121,813
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$204,847,755$181,787,040▼ $23,060,715
Rtn Earn Endowment Incm Other Fnds$162,176,261$151,378,976▼ $10,797,285
Savings and Temporary Cash Investments$8,528,978$33,911,733▲ $25,382,755
Accounts Receivable$24,476,242$22,367,588▼ $2,108,654
Land, Buildings, and Equipment, Net$1,921,271$1,852,898▼ $68,373
Prepaid Expenses and Deferred Charges$267,242$265,654▼ $1,588
Cash and Non-Interest-Bearing Accounts$119$310▲ $191
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$240,041,607$240,185,223▲ $143,616
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$69,271,288$79,980,111▲ $10,708,823
Deferred Revenue$7,101,911$7,199,621▲ $97,710
Accounts Payable and Accrued Expenses$1,492,147$1,626,515▲ $134,368
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$77,865,346$88,806,247▲ $10,940,901
Net Assets / Fund Balance
Total Net Assets Fund Balance$162,176,261$151,378,976▼ $10,797,285
Total Liabilities and Net Assets / Fund Balance$240,041,607$240,185,223▲ $143,616

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$184,892$3,288,716$3,473,608
Buildings$656,006$1,112,371$1,768,377
Land$1,012,000-$1,012,000
Leasehold Improvements-$29,443$29,443
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Valerie CornuelleExecutive DirectorFT$250,817$40,731$291,548
Robert PowersDirector of Financial ServicesFT$166,233$34,387$200,620
Jeff CorneliusDirector of Strategic InitiativesFT$136,382$32,149$168,531
TIERNEY O'BRIENDirector of Marketing & Bus DevFT$128,790$31,579$160,369
Brook PaulsenIt ManagerFT$122,153$31,081$153,234
Brett CargleSr Systems Security AnalystFT$115,328$30,570$145,898
Nolan ClinardBusiness AnalystFT$115,328$30,570$145,898
Anthony ParreiraDirector-$191-$191
Chad WoodDirector-$191-$191
Debra ColeDirector-$191-$191
Elaine CashDirector-$191-$191
John PestorichDirector-$191-$191
Keith PaceDirector-$191-$191
Nancy SmithDirector-$191-$191
Wayne HarrisDirector-$175-$175
Sue EusticeDirector (Former)-$16-$16

Board Members and Trustees

NameTitle
Carole Anne LuckenbachDirector
Daryl HemenwayDirector
Ken JohnsonDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Anthem Blue Crossclaims admin service11050 Olson Dr Ste 110, Rancho Cordova, CA 95670$16,529,102
Delta DentalClaims admin service100 First St 6th Fl, San Francisco, CA 94105$3,424,626
Blue Shield Of California AsoClaims Admin Service50 BEALE ST, San Francisco, CA 94105$2,177,715
PrudentrxAdmin Service3820 NORTHDALE BLVD STE 311-A, Tampa, FL 33624$1,615,242
CvsAdmin Service1 CVS DRIVE, Woonsocket, RI 02895$1,053,761
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$767,154,321
Investment Income
$7,850,158
Other Revenue
$580,127
Change in Net Assets
$22,044,908

Audited Revenue Reconciliation

Revenue per Audited Statements
$775,413,956
Revenue Not Reported on Financial Statements
$170,650
Revenue Not Reported on Form 990
$-32,842,193
Total Revenue per Audited Statements
$742,571,763
Total Revenue per Form 990
$775,584,606
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$33,591,994
Salaries, Compensation, and Employee Benefits$4,877,185
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$715,070,519
Fees for Services Other---$31,045,844
Other Salaries and Wages---$3,433,965
Office Expenses---$575,502
Current Officers, Directors, Trustees, and Key Employees---$493,696
Other Employee Benefits---$413,434
Payroll Taxes---$296,983
Advertising---$254,909
Fees for Services Legal---$244,539
Information Technology---$241,534
Pension Plan Contributions---$239,107
Other Expenses---$213,790
Fees for Service Investment Mgmnt Fees---$170,650
Insurance---$169,714
Depreciation Depletion---$166,113
Fees for Services Accounting---$161,564
Travel---$139,368
Occupancy---$126,688
Conferences and Meetings---$81,779
Total Functional Expenses$0$0$0$753,539,698

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$753,539,698
Expenses per Audited Statements$742,363,485
Total Expenses per Audited Statements$742,363,485
Expenses Not Reported on Financial Statements$11,176,213
Other Expense Adjustments$11,005,563
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$75,604,583
Postretirement Benefit Cost$2,248,700
Others$2,126,828
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.

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
2023-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Valerie Cornuelle
Formed
1984
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
7
Employees
41
Volunteers
0

Preparer

Firm
Miller Kaplan Arase Llp
Address
275 BATTERY ST STE 1800, SAN FRANCISCO, CA 94111-3346
Preparer
Macgregor Waite
Phone
4159563600
Supplemental Narrative

Additional Explanations

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.

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 xii, line 4b: change in benefit obligations $11,005,563

Raw XML AppendixShowing 400 of 656 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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IRS990/Form990PartVIISectionAGrp/PersonNm0Valerie Cornuelle
IRS990/Form990PartVIISectionAGrp/PersonNm1Robert Powers
IRS990/Form990PartVIISectionAGrp/PersonNm2JEFF CORNELIUS
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IRS990/Form990PartVIISectionAGrp/PersonNm4BROOK PAULSEN
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IRS990/Form990PartVIISectionAGrp/PersonNm6BRETT CARGLE
IRS990/Form990PartVIISectionAGrp/PersonNm7Chad Wood
IRS990/Form990PartVIISectionAGrp/PersonNm8Elaine Cash
IRS990/Form990PartVIISectionAGrp/PersonNm9Nancy Smith
IRS990/Form990PartVIISectionAGrp/PersonNm10John Pestorich
IRS990/Form990PartVIISectionAGrp/PersonNm11Debra Cole
IRS990/Form990PartVIISectionAGrp/PersonNm12Anthony Parreira
IRS990/Form990PartVIISectionAGrp/PersonNm13Keith Pace
IRS990/Form990PartVIISectionAGrp/PersonNm14Wayne Harris
IRS990/Form990PartVIISectionAGrp/PersonNm15Sue Eustice
IRS990/Form990PartVIISectionAGrp/PersonNm16Carole Anne Luckenbach
IRS990/Form990PartVIISectionAGrp/PersonNm17Ken Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm18Daryl Hemenway
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Dir. of Financial Services
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIR. OF STRATEGIC INITIATIVES
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIR OF MARKETING & BUS DEV
IRS990/Form990PartVIISectionAGrp/TitleTxt4IT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt5Business Analyst
IRS990/Form990PartVIISectionAGrp/TitleTxt6SR SYSTEMS SECURITY ANALYST
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 (Former)
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
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IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MethodOfAccountingAccrualInd0X
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IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROVIDE HEALTH AND WELFARE BENEFITS FOR ELIGIBLE EMPLOYEES, RETIREES AND THEIR DEPENDENTS.
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IRS990/PrincipalOfficerNm0Valerie Cornuelle
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IRS990/ProgramServiceRevenueGrp/Desc1PARTICIPANT CONTRIBUTIONS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt130228224
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IRS990/PYBenefitsPaidToMembersAmt0787844013
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt014659155

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