Civic Intelligence

Berkeley Student Cooperative Fka Univ Students Cooperative Assn

990 • Fiscal year 2016 • EIN 94-0948140

Jun 01, 2015 to May 31, 2016 • Filed on Apr 18, 2017

2424 Ridge RoadBerkeley, CA 94709

(510) 549-5959

Siviq Scores

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

Liabilities / Assets

65th percentile

0.43x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

1.87x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

78th percentile

16%

Higher net margin than 78% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

50th percentile

2.4%

Faster asset growth than 50% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

43rd percentile

0.7%

Faster revenue growth than 43% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$49,006,684

Up $1,125,549 (+2.4%) from 2015

Net Assets

Up

$27,852,749

Up $1,685,589 (+6.4%) from 2015

Liabilities

Down

$21,153,935

Down $560,040 (-2.6%) from 2015

Revenue

Up

$11,299,677

Up $81,880 (+0.7%) from 2015

Expenses

Up

$9,507,596

Up $170,246 (+1.8%) from 2015

Net Income

Down

$1,792,081

Down $88,366 (-4.7%) from 2015

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $42,396,313Liabilities 2010: $23,877,554Net Assets 2010: $18,518,7592010Assets 2011: $43,430,140Liabilities 2011: $23,656,299Net Assets 2011: $19,773,8412011Assets 2012: $44,506,408Liabilities 2012: $23,015,669Net Assets 2012: $21,490,7392012Assets 2013: $45,802,952Liabilities 2013: $22,714,974Net Assets 2013: $23,087,9782013Assets 2014: $46,574,012Liabilities 2014: $22,287,299Net Assets 2014: $24,286,7132014Assets 2015: $47,881,135Liabilities 2015: $21,713,975Net Assets 2015: $26,167,1602015Assets 2016: $49,006,684Liabilities 2016: $21,153,935Net Assets 2016: $27,852,7492016Assets 2017: $49,517,856Liabilities 2017: $20,074,339Net Assets 2017: $29,443,5172017Assets 2018: $52,010,657Liabilities 2018: $19,864,898Net Assets 2018: $32,145,7592018Assets 2019: $53,002,234Liabilities 2019: $18,785,177Net Assets 2019: $34,217,0572019Assets 2020: $56,996,489Liabilities 2020: $23,737,583Net Assets 2020: $33,258,9062020Assets 2021: $57,970,092Liabilities 2021: $20,017,091Net Assets 2021: $37,953,0012021Assets 2022: $63,591,156Liabilities 2022: $19,564,720Net Assets 2022: $44,026,4362022Assets 2023: $62,005,892Liabilities 2023: $20,155,303Net Assets 2023: $41,850,5892023Assets 2024: $55,614,109Liabilities 2024: $14,072,899Net Assets 2024: $41,541,2102024

Highlighted filing

2016

Assets$49,006,684
Liabilities$21,153,935
Net Assets$27,852,749

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $8,601,8622010Expenses 2011: $8,586,4732011Expenses 2012: $8,734,4242012Expenses 2013: $9,106,5302013Revenue 2014: $10,972,961Expenses 2014: $9,774,226Net Income 2014: $1,198,7352014Revenue 2015: $11,217,797Expenses 2015: $9,337,350Net Income 2015: $1,880,4472015Revenue 2016: $11,299,677Expenses 2016: $9,507,596Net Income 2016: $1,792,0812016Revenue 2017: $11,224,433Expenses 2017: $9,919,923Net Income 2017: $1,304,5102017Revenue 2018: $12,338,485Expenses 2018: $9,867,530Net Income 2018: $2,470,9552018Revenue 2019: $12,576,923Expenses 2019: $10,502,661Net Income 2019: $2,074,2622019Revenue 2020: $12,313,327Expenses 2020: $10,349,121Net Income 2020: $1,964,2062020Revenue 2021: $10,593,922Expenses 2021: $10,637,994Net Income 2021: -$44,0722021Revenue 2022: $11,741,752Expenses 2022: $8,153,076Net Income 2022: $3,588,6762022Revenue 2023: $10,499,027Expenses 2023: $9,163,955Net Income 2023: $1,335,0722023Revenue 2024: $14,398,186Expenses 2024: $11,149,394Net Income 2024: $3,248,7922024

Highlighted filing

2016

Revenue$11,299,677
Expenses$9,507,596
Net Income$1,792,081
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Apr 18, 2017
Return Version
2015v3.0
Gross Receipts
$11,299,677
Mission and Program Overview

Mission

To provide a quality, low-cost, cooperative housing community to university students, thereby providing an educational opportunity for students who might not otherwise be able to afford a university education.

Provide a quality, low cost, cooperative housing community to University students who otherwise might not be able to afford a University education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$31,761,180$32,270,744▲ $509,564
Savings and Temporary Cash Investments$5,052,956$5,387,599▲ $334,643
Cash and Non-Interest-Bearing Accounts$3,776,036$4,525,026▲ $748,990
Investments in Publicly Traded Securities$3,974,675$3,595,952▼ $378,723
Prepaid Expenses and Deferred Charges$331,296$298,785▼ $32,511
Accounts Receivable$62,331$121,882▲ $59,551
Inventories for Sale or Use$38,622$56,782▲ $18,160
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$47,881,135$49,006,684▲ $1,125,549
Other Assets Total$2,884,039$2,749,914▼ $134,125
Liabilities
Tax Exempt Bond Liabilities$18,050,000$17,763,588▼ $286,412
Deferred Revenue$1,285,918$1,368,514▲ $82,596
Other Liabilities$1,221,009$1,149,561▼ $71,448
Accounts Payable and Accrued Expenses$441,928$429,816▼ $12,112
Mortgage Notes Payable Secured by Investment Property$588,588$295,000▼ $293,588
Escrow Account Liability$126,532$147,456▲ $20,924
Total Liabilities$21,713,975$21,153,935▼ $560,040
Net Assets / Fund Balance
Unrestricted Net Assets$24,367,824$26,053,413▲ $1,685,589
Temporarily Rstr Net Assets$966,339$966,339→ $0
Permanently Rstr Net Assets$832,997$832,997→ $0
Total Net Assets Fund Balance$26,167,160$27,852,749▲ $1,685,589
Total Liabilities and Net Assets / Fund Balance$47,881,135$49,006,684▲ $1,125,549

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$30,512,574$28,175,681$58,688,255
Other Land Buildings$312,619$3,129,496$3,442,115
Land$1,445,551-$1,445,551
Other Assets Org$234,433--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$935,952$103,361▼ $46,657$-113,808$878,848
2014$698,565$228,192▲ $72,688$-63,493$935,952
2013$724,782-▲ $5,857$-32,074$698,565
2012$714,768-▲ $23,577$-13,563$724,782
2011$713,349$76,445▼ $40,277$-34,749$714,768
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kimberly BensonExec Director / CEOFT$119,327$17,061$136,388
Steven CatanoFin & Acctg MgrFT$94,884$20,257$115,141
Madeleine LohDevelopment DirectorFT$60,803$29,073$89,876
Austin PritzkatPresidentPT$7,543-$7,543
David LiraVP CAP&FinancePT$5,027-$5,027
Natalia ReyesVP Edu&TrainingPT$2,513-$2,513
Arielle OlmsVP Int. AffairsPT$2,482-$2,482
Kevin RamirezVP Edu. & TrnPT$2,482-$2,482
Tim BlairVP Ext. AffairsPT$2,482-$2,482
Brian JudgeVP of CAP.&FinPT$1,634-$1,634

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Counterforce IncConstruction2537 Willow Street, Oakland, CA 94607$551,925
Occidental PowerConstruction5983 Mission Street, Daly City, CA 94014$194,293
Guillermo ValenciaConstruction21205 Foothill Blvd, Hayward, CA 94541$112,732
Argueta ConstructionConstruction990 Mitchel Way, El Sobranto, CA 94803$111,080
CG BuildersConstruction1237 Via Vista, San Lorenzo, CA 94580$104,580
Revenue and Support

Revenue Composition

Contributions and Grants
$441,884
Program Service Revenue
$10,355,169
Investment Income
$-42,488
Other Revenue
$545,112
All Other Contributions
$441,884
Change in Net Assets
$1,792,081

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,299,677
Revenue Not Reported on Form 990
$-106,492
Total Revenue per Audited Statements
$11,193,185
Total Revenue per Form 990
$11,299,677
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,697,383
Salaries, Compensation, and Employee Benefits$2,696,405
Total Fundraising Expense$177,892
Grants and Similar Amounts Paid$113,808
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,944,832--$1,944,832
Depreciation Depletion$1,634,662--$1,634,662
Interest$901,339--$901,339
All Other Expenses$700,150--$700,150
Insurance$429,614-$3,000$432,614
Current Officers, Directors, Trustees, and Key Employees-$258,956$73,150$332,106
Other Employee Benefits$224,534-$5,673$230,207
Other Expenses$100,302-$83,945$184,247
Payroll Taxes$111,162-$5,508$116,670
Grants to Domestic Individuals$113,808--$113,808
Occupancy$102,207--$102,207
Pension Plan Contributions$66,249-$6,341$72,590
Fees for Services Accounting$39,525-$275$39,800
Fees for Services Legal$13,461--$13,461
Total Functional Expenses$9,070,748$258,956$177,892$9,507,596

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,507,596
Total Expenses per Audited Statements$9,507,596
Total Expenses per Form 990$9,507,596
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Deposits$793,592
Premium on Bond Interest$180,374
Interest Payable$146,862
Accrued Payroll and Related Liabilities$28,733

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACA Municipal Finance Auth2007-10-01$20,000,000Seismic & Disabled Access

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$20,000,000--$600,000

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

Membership is open to students and University staff regardless of race, religion or political affiliation, upon payment of a life membership fee. There is only one class of membership. All members enjoy the same rights and privileges.

Form 990, Part VI, Line 11B: Form 990 Review Process

The Executive Director, Finance & Accounting Manager, and Vice President of Capital & Finance review the Form 990. The Form 990 then goes to the Capital & Finance Committee for further review and approval. Then the Board of Directors reviews the final tax return.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a written Conflict of Interest policy which requires it to monitor conflicts of interest through a written disclosure questionnaire implemented annually in the spring. The questionnaire is completed by all employees, all Executive Officers, and all Board Members. The organization also trains staff, Board Members and Executives on the duty to disclose conflicts of interest as they arise throughout the year. The Executive Director in the first instance examines any disclosures by staff of potential conflicts of interest to determine whether an actual conflict exists. The cabinet examines any disclosures by the Board Members, Executives, and Senior Management. The Audit Committee is charged with making decisions concerning resolution of conflicts of interest involving Directors, Executive Officers, and Senior Management. The President is responsible for reviewing disclosures and resolving conflicts by the Chair of the Audit Committee. The Executive Director is responsible for resolving all conflicts of interests by the staff, subject to approval by the cabinet. Depending on who is responsible for the conflict of interest, an actual conflict of interest, and the restrictions it requires, may be resolved by the cabinet of Executive Officers or by the Audit Committee. The restrictions that may be imposed range from a change in scope of authority to termination, depending on the facts of the case.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The BSC annually compares salaries and benefits, including the Executive Director's, to those of comparable nonprofits in the bay area, using a nonprofit wage and benefits survey, called Fair Pay.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The BSC annually compares salaries and benefits, including the Executive Director's, to those of comparable nonprofits in the bay area, using a nonprofit wage and benefits survey, called Fair Pay.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization's governing documents, conflict of interest policy, and financial statements are available upon request. Many of the documents are available online at www.bsc.coop

Filing and Contact Details

Filer

Filer Name
Berkeley Student Cooperative
EIN
94-0948140
Phone
5105495959
Address
2424 Ridge Road, Berkeley, CA 94709

Signing Officer

Name
Kimberly Benson
Title
Exec. Dir./CEO
Signed
2017-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Benson
Formed
1934
Legal Domicile
CA
Voting Board Members
28
Independent Board Members
22
Employees
63
Volunteers
1,300

Preparer

Firm
Vasin Heyn & Company
Address
5000 N Parkway Calabasas 201, Calabasas, CA 91302
Preparer
Rolland Vasin
Phone
8182223500
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

The oversight process is performed by the Audit Committee which is responsible for the compilation of the financial statements review of the audited financial statements as well as the selection of an independent auditing firm.

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

For the BSC Alumni Association (BSCAA), Berkeley Student Cooperative (BSC) holds BSCAA membership dues in a separate Wells Fargo account. The BSCAA exists to generate a membership base of BSC alumni in order to procure donations for BSC. The larger the membership base, hopefully the more donations BSC receives. Because alumni send membership renewal money with donations, it was deemed easier to hold the funds at BSC and have BSC report an asset and corresponding liability on its books.BSC is comprised of over 1,300 student members living and/or boarding in twenty houses and apartment complexes around the UC Berkeley campus. The houses/apartments use BSC's federal tax ID to set up and maintain their checking accounts. The checking accounts are used to pay for amenities at the house levels that are not included in the BSC room & board or rent contracts such as cable TV, newspapers and periodicals, interest service, etc.

Part X : FIN48 Footnote

BSC is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code and California income taxes under section 23701(d) of the California Revenue and Taxation Code. The IRS classified the organization as one that is not a private foundation within the meaning of section 509(a) of the Code because it is an organization described in section(s) 509(a)(1) and 170(b)(1)(A)(vi). BSC has adopted Financial Accounting Standards Board Accounting Standards Codification (ASC Section 740-10, which clarifies the accounting for uncertainty in income taxes. ASC Section 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Section 740-10 requires that an organization recognize in the financial statements the impact of the tax position if that position will more likely than not be sustained on audit, based on the technical merits of the position. As of and for the year ended May 31, 2016, BSC had no material unrecognized tax benefits, tax penalties or interest.BSCs Forms 990, Return of Organization Exempt from Income Tax, the tax years ended May 31; 2015, 2014, 2013, are subject to examination by the IRS, generally for 3 years after they were filed.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$55.6$14.1$41.5$14.4$11.1$3.25
2023Detailed filing. Detailed filing data is available for this year.$62.0$20.2$41.9$10.5$9.16$1.34
2022Detailed filing. Detailed filing data is available for this year.$63.6$19.6$44.0$11.7$8.15$3.59
2021Detailed filing. Detailed filing data is available for this year.$58.0$20.0$38.0$10.6$10.6$0.04
2020Detailed filing. Detailed filing data is available for this year.$57.0$23.7$33.3$12.3$10.3$1.96
2019Detailed filing. Detailed filing data is available for this year.$53.0$18.8$34.2$12.6$10.5$2.07
2018Detailed filing. Detailed filing data is available for this year.$52.0$19.9$32.1$12.3$9.87$2.47
2017Detailed filing. Detailed filing data is available for this year.$49.5$20.1$29.4$11.2$9.92$1.30
2016Detailed filing. Detailed filing data is available for this year.$49.0$21.2$27.9$11.3$9.51$1.79
2015Detailed filing. Detailed filing data is available for this year.$47.9$21.7$26.2$11.2$9.34$1.88
2014Detailed filing. Detailed filing data is available for this year.$46.6$22.3$24.3$11.0$9.77$1.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.8$22.7$23.1$9.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.5$23.0$21.5$8.73
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.4$23.7$19.8$8.59
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.4$23.9$18.5$8.60