Civic Intelligence

Infrastructure Financial Services

990 • Fiscal year 2020 • EIN 83-3612494

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 18, 2021

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

96th percentile

1.13x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

25.32x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

2nd percentile

-210%

Higher net margin than 2% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

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

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

6th percentile

-8.9%

Faster asset growth than 6% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

144%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$28,443,091

Down $2,791,182 (-8.9%) from 2019

Net Assets

Down

-$3,557,294

Down $2,788,843 (-363%) from 2019

Liabilities

Down

$32,000,385

Down $2,339 (-0.0%) from 2019

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin2nd percentile

Revenue

Up

$1,263,935

Up $746,027 (+144%) from 2019

Expenses

Up

$3,913,034

Up $2,626,675 (+204%) from 2019

Net Income

Down

-$2,649,099

Down $1,880,648 (-245%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

2020

Assets$28,443,091
Liabilities$32,000,385
Net Assets-$3,557,294
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

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

2020

Revenue$1,263,935
Expenses$3,913,034
Net Income-$2,649,099
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 18, 2021
Return Version
2020v4.1
Gross Receipts
$1,263,935
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
Land, Buildings, and Equipment, Net$11,778,895$19,865,902▲ $8,087,007
Savings and Temporary Cash Investments$17,630,974$6,809,868▼ $10,821,106
Intangible Assets$1,765,303$1,617,863▼ $147,440
Cash and Non-Interest-Bearing Accounts$39,226$126,598▲ $87,372
Accounts Receivable-$3,000-
Total Assets$31,234,273$28,443,091▼ $2,791,182
Other Assets Total$19,875$19,860▼ $15
Liabilities
Tax Exempt Bond Liabilities$32,000,000$32,000,000→ $0
Accounts Payable and Accrued Expenses$2,724$385▼ $2,339
Total Liabilities$32,002,724$32,000,385▼ $2,339
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-768,451$-3,557,294▼ $2,788,843
Total Net Assets Fund Balance$-768,451$-3,557,294▼ $2,788,843
Total Liabilities and Net Assets / Fund Balance$31,234,273$28,443,091▼ $2,791,182

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,296,412$454,454$19,750,866
Equipment$569,490$6,861$576,351
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Michael HarlingPresident
Rafael CarreonVice President
Karen WoodliffSecretary/treasurer
James Parkey Vice PresidentTreasurer (through July 2020)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,202,914
Investment Income
$61,021
Other Revenue
$0
Change in Net Assets
$-2,649,099
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,913,034
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$1,840,064--$1,840,064
Depreciation Depletion$343,480--$343,480
Occupancy$270,489--$270,489
Fees for Services Other-$86,123-$86,123
Fees for Services Legal-$52,629-$52,629
Insurance$52,262--$52,262
Fees for Services Accounting-$26,800-$26,800
Information Technology-$6,983-$6,983
Office Expenses-$2,282-$2,282
Other Expenses$3,590$300-$300
Total Functional Expenses$3,737,917$175,117$0$3,913,034
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
2021-10-18
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
4

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 437 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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IRS990ScheduleD/EquipmentGrp/DepreciationAmt06861
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0576351
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019865902
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-12-20
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt029046793
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0DELAWARE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PURPOSE INCLUDES TERMINATION OF LEASES, RENOVATION PROJECT, AND REFINANCING
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0578605
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02020
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt029046793
IRS990/ScheduleORequiredInd01
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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0INFRASTRUCTURE FINANCIAL SERVICES
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0CHESTER EDUCATION LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0834111618
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt028368095
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0CHARTER SCHOOL
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0-2690608
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt05520 SPRING VALLEY RD STE 522
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0DALLAS
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0COMPREHENSIVE RECOVERY SERVICES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0841265206
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EXPAND EDUCATIONAL OPPORTUNITIES
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransferToOtherOrgInd00
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IRS990/TaxablePartyNotificationInd00
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IRS990/TotalAssetsGrp/EOYAmt028443091
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0175117
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03737917
IRS990/TotalFunctionalExpensesGrp/TotalAmt03913034
IRS990/TotalGrossUBIAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-768451
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3557294
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03737917
IRS990/TotalProgramServiceRevenueAmt01202914
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt061021
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01202914
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01263935
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,443,091
Liabilities
$32,000,385
Net assets
-$3,557,294
Revenue
$1,263,935
Expenses
$3,913,034
Net income
-$2,649,099
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
2020Detailed filing. Detailed filing data is available for this year.$28.4$32.0$3.56$1.26$3.91$2.65
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.2$32.0$0.77$0.52$1.29$0.77