Civic Intelligence

Infrastructure Financial Services

990 • Fiscal year 2019 • EIN 83-3612494

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 02, 2020

Organization ProfileN/A
5220 Spring Valley Rd No 522Dallas, TX 75254

(972) 386-0200

Siviq Scores

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

Liabilities / Assets

94th percentile

1.02x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

61.79x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

2nd percentile

-148%

Higher net margin than 2% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

$31,234,273

No earlier filing loaded for comparison.

Net Assets

-$768,451

No earlier filing loaded for comparison.

Liabilities

$32,002,724

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

$517,908

No earlier filing loaded for comparison.

Expenses

$1,286,359

No earlier filing loaded for comparison.

Net Income

-$768,451

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300M$200M$100M$0-$100MAssets 2019: $31,234,273Liabilities 2019: $32,002,724Net Assets 2019: -$768,4512019Assets 2020: $28,443,091Liabilities 2020: $32,000,385Net Assets 2020: -$3,557,2942020Assets 2021: $184,702,723Liabilities 2021: $189,402,714Net Assets 2021: -$4,699,9912021Assets 2022: $190,415,815Liabilities 2022: $217,319,035Net Assets 2022: -$26,903,2202022Assets 2024: $25,400,581Liabilities 2024: $30,008,425Net Assets 2024: -$4,607,8442024

Highlighted filing

2019

Assets$31,234,273
Liabilities$32,002,724
Net Assets-$768,451
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$60M$40M$20M$0-$20M-$40MRevenue 2019: $517,908Expenses 2019: $1,286,359Net Income 2019: -$768,4512019Revenue 2020: $1,263,935Expenses 2020: $3,913,034Net Income 2020: -$2,649,0992020Revenue 2021: $2,974,011Expenses 2021: $4,116,708Net Income 2021: -$1,142,6972021Revenue 2022: $29,005,314Expenses 2022: $51,208,543Net Income 2022: -$22,203,2292022Revenue 2024: $2,383,755Expenses 2024: $2,803,901Net Income 2024: -$420,1462024

Highlighted filing

2019

Revenue$517,908
Expenses$1,286,359
Net Income-$768,451
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 2, 2020
Return Version
2019v5.1
Gross Receipts
$517,908
Mission and Program Overview

Mission

Infrastructure financial services was formed to (i) promote community access to and development of communication systems, (ii) promote expanded educational opportunities, including but not limited to charter school organizations, (iii) work with communities and educational organizations to provide and arrange financing and refinancing for the development, acquisition, construction, improvement and equipping of communication networks and systems; (iv) work with charter school organizations for the development and financing of infrastructure and improvements; and (v) provide services related to the development, expansion, financing, and operation of elderly housing in communities seeing the greatest need for affordable, quality accomodations for the elderly, and the provision of related social, transportation, and medical services for its elderly population.

To promote expanded educational opportunities, including but not limited to charter schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$17,630,974-
Land, Buildings, and Equipment, Net$0$11,778,895▲ $11,778,895
Intangible Assets-$1,765,303-
Cash and Non-Interest-Bearing Accounts-$39,226-
Total Assets$0$31,234,273▲ $31,234,273
Other Assets Total$0$19,875▲ $19,875
Liabilities
Tax Exempt Bond Liabilities-$32,000,000-
Accounts Payable and Accrued Expenses-$2,724-
Total Liabilities$0$32,002,724▲ $32,002,724
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-768,451-
Total Net Assets Fund Balance$0$-768,451▼ $768,451
Total Liabilities and Net Assets / Fund Balance$0$31,234,273▲ $31,234,273

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,778,895$35,223$11,814,118
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Michael HarlingPresident
Rafael CarreonVice President, Secretary
James ParkeyVice President, Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$249,741
Program Service Revenue
$266,142
Investment Income
$2,025
Other Revenue
$0
Change in Net Assets
$-768,451

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$249,741
Total Noncash Contributions1$249,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,286,359
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$579,584--$579,584
Depreciation Depletion$146,066--$146,066
Occupancy$143,470--$143,470
Fees for Services Other-$17,625-$17,625
Insurance$12,817--$12,817
Fees for Service Investment Mgmnt Fees-$4,000-$4,000
Other Expenses$1,795--$1,795
Fees for Services Legal-$1,440-$1,440
Office Expenses-$213-$213
Total Functional Expenses$1,263,081$23,278$0$1,286,359
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ADelaware County Industrial Development Authority2019-12-20$29,046,793Purpose includes termination of leases, renovation project, and refinancing

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$29,046,793--$578,605

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is provided to the full board of directors for review and approval, before the return is filed.”

Form 990, Part VI, Section B, Line 12C

“Under the organization's conflict of interest policy, officers, directors, and employees of infrastructure financial services are required to complete annually a disclosure form identifying a possible conflict of interest. If a conflict arises, the responsible person is required to disclose all material facts related to the transaction. Anyone who has a conflict of interest is not permitted to hear the board's discussion of the matter and is not permitted to vote on the matter.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Infrastructure Financial Services
EIN
83-3612494
Phone
9723860200
Address
5220 SPRING VALLEY RD NO 522, DALLAS, TX 75254

Signing Officer

Name
Michael Harling
Title
President
Phone
9723860200
Signed
2020-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Harling
Formed
2019
Legal Domicile
Az
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Moss Adams Llp
Address
14555 DALLAS PARKWAY STE 300, DALLAS, TX 75254
Preparer
Matthew W Dover CPA
Phone
9724582296
Raw XML AppendixShowing 400 of 418 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND APPROVAL, BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UNDER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, OFFICERS, DIRECTORS, AND EMPLOYEES OF INFRASTRUCTURE FINANCIAL SERVICES ARE REQUIRED TO COMPLETE ANNUALLY A DISCLOSURE FORM IDENTIFYING A POSSIBLE CONFLICT OF INTEREST. IF A CONFLICT ARISES, THE RESPONSIBLE PERSON IS REQUIRED TO DISCLOSE ALL MATERIAL FACTS RELATED TO THE TRANSACTION. ANYONE WHO HAS A CONFLICT OF INTEREST IS NOT PERMITTED TO HEAR THE BOARD'S DISCUSSION OF THE MATTER AND IS NOT PERMITTED TO VOTE ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02021-01-29 14:40:06Z
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,234,273
Liabilities
$32,002,724
Net assets
-$768,451
Revenue
$517,908
Expenses
$1,286,359
Net income
-$768,451
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.4$30.0$4.61$2.38$2.80$0.42
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$190$217$26.9$29.0$51.2$22.2
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$185$189$4.70$2.97$4.12$1.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.4$32.0$3.56$1.26$3.91$2.65
2019Detailed filing. Detailed filing data is available for this year.$31.2$32.0$0.77$0.52$1.29$0.77