Civic Intelligence

Berkeley Student Cooperative Fka Univ Students Cooperative Assn

990 • Fiscal year 2018 • EIN 94-0948140

Jun 01, 2017 to May 31, 2018 • Filed on Apr 12, 2019

2424 Ridge RoadBerkeley, CA 94709

(510) 549-5959

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$51,994,187

Up $2,476,331 (+5.0%) from 2017

Net Assets

Up

$32,518,160

Up $3,074,643 (+10%) from 2017

Liabilities

Down

$19,476,027

Down $598,312 (-3.0%) from 2017

Revenue And Expenses

Revenue

Up

$12,338,480

Up $1,114,047 (+9.9%) from 2017

Expenses

Down

$9,768,908

Down $151,015 (-1.5%) from 2017

Net Income

Up

$2,569,572

Up $1,265,062 (+97%) from 2017

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 2018: $51,994,187Liabilities 2018: $19,476,027Net Assets 2018: $32,518,1602018Assets 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

2018

Assets$51,994,187
Liabilities$19,476,027
Net Assets$32,518,160

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 2018: $12,338,480Expenses 2018: $9,768,908Net Income 2018: $2,569,5722018Revenue 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

2018

Revenue$12,338,480
Expenses$9,768,908
Net Income$2,569,572
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Apr 12, 2019
Return Version
2017v2.2
Gross Receipts
$18,159,575
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$32,436,177$33,341,284▲ $905,107
Investments in Publicly Traded Securities$9,207,104$11,495,581▲ $2,288,477
Cash and Non-Interest-Bearing Accounts$5,349,258$4,210,445▼ $1,138,813
Accounts Receivable$-26,282$625,838▲ $652,120
Prepaid Expenses and Deferred Charges$328,347$306,311▼ $22,036
Inventories for Sale or Use$79,522$98,285▲ $18,763
Savings and Temporary Cash Investments-$0-
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$49,517,856$51,994,187▲ $2,476,331
Other Assets Total$2,143,730$1,916,443▼ $227,287
Liabilities
Tax Exempt Bond Liabilities$17,035,208$16,412,791▼ $622,417
Deferred Revenue$1,442,491$1,833,397▲ $390,906
Accounts Payable and Accrued Expenses$779,981$592,750▼ $187,231
Other Liabilities$568,807$591,063▲ $22,256
Mortgage Notes Payable Secured by Investment Property$200,000--
Escrow Account Liability$47,852$46,026▼ $1,826
Total Liabilities$20,074,339$19,476,027▼ $598,312
Net Assets / Fund Balance
Unrestricted Net Assets$27,644,181$30,302,537▲ $2,658,356
Temporarily Rstr Net Assets$966,339$1,382,626▲ $416,287
Permanently Rstr Net Assets$832,997$832,997→ $0
Total Net Assets Fund Balance$29,443,517$32,518,160▲ $3,074,643
Total Liabilities and Net Assets / Fund Balance$49,517,856$51,994,187▲ $2,476,331

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,616,857$31,299,096$62,915,953
Other Land Buildings$278,876$3,420,711$3,699,587
Land$1,445,551-$1,445,551

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$935,952$106,961▲ $7,001$-113,962$935,952
2016$878,848$22,773▲ $142,324$-107,993$935,952
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kimberly BensonExec DirectorFT$142,800$19,016$161,816
Steven CatanoFin & Acctg MgrFT$106,775$25,471$132,246
Marie LuceroOperations ManagerFT$102,098$11,030$113,128
Madeleine LohDir/Develop DirectorFT$83,996$13,379$97,375
Zach GamlieliPresidentPT$13,401-$13,401
Alex CoffinVP Exp&TrainingPT$10,726-$10,726
Joshua ErdtsieckVP ext. AffairsPT$8,593-$8,593
Jess HaroVP Int. AffairsPT$8,373-$8,373
Suleekho MuseVP C FinancePT$6,826-$6,826
Carlos FariasDirectorPT$2,966-$2,966
Christine GriffinDirectorPT$2,807-$2,807
Briana BowersDirectorPT$2,768-$2,768
Alankrita DayalDirectorPT$2,755-$2,755
Ari HosseiniDirectorPT$2,323-$2,323
Benjamin EspteinDirectorPT$1,828-$1,828
Luis MolinaDirectorPT$1,768-$1,768
Abdullah PuckettNon Ex. CabinetPT$1,691-$1,691
Erendira Di GiuseppeDirectorPT$949-$949
Jo HauptDirectorPT$623-$623
Will Colin-DiamondDirectorPT$201-$201
Christie AhnDirectorPT$14-$14

Board Members and Trustees

NameTitle
Elissa RoyDirector
Emery MartinezDirector
Jane KimDirector
Jaya MantovaniDirector
John EhrlichDirector
Karl LindemannDirector
Luis TorresDirector
Maria GuerraDirector
Max KanwalDirector
Nick JohnsonDirector
Patricia MalagonDirector
Raul TopeteDirector
Saaleha BayDirector
Sarah GistDirector
Shilo Pinto-QuintanillaDirector
Yeshe SalzDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Counterforce IncRenovations2537 Willow Street, Oakland, CA 94607$951,828
Cooper & Hawkins IncHVAC Repair & Instal2701 San Pablo Ave, Berkeley, CA 94702$205,764
ACV Roofing IncRoofing1946 Embarcadero, Oakland, CA 94606$196,100
JJ RenovationsRenovations501 Duboce Ave, Richmond, CA 94801$175,445
City Mechanical IncHVAC Repair/Installa724 Alfred Nobel Dr, Hercules, CA 94547$137,976
Revenue and Support

Revenue Composition

Contributions and Grants
$1,249,099
Program Service Revenue
$10,311,929
Investment Income
$218,675
Other Revenue
$558,777
All Other Contributions
$1,249,099
Change in Net Assets
$2,569,572
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,605,235
Salaries, Compensation, and Employee Benefits$2,999,711
Total Fundraising Expense$200,017
Grants and Similar Amounts Paid$163,962
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,580,109$526,703$6,647$2,113,459
Depreciation Depletion$1,788,225--$1,788,225
All Other Expenses$298,726$217,359$81,354$597,439
Interest$527,341--$527,341
Current Officers, Directors, Trustees, and Key Employees$54,203$307,151$98,695$460,049
Insurance$233,816$175,466-$409,282
Other Employee Benefits$162,082$54,027-$216,109
Other Expenses$120,434$29,676$5,650$150,110
Payroll Taxes$96,392$32,130$7,671$136,193
Grants to Domestic Individuals$113,962--$113,962
Occupancy$107,247--$107,247
Fees for Service Investment Mgmnt Fees-$85,386-$85,386
Pension Plan Contributions$55,426$18,475-$73,901
Grants to Domestic Orgs$50,000--$50,000
Fees for Services Accounting-$38,665-$38,665
Fees for Services Legal-$22,060-$22,060
Total Functional Expenses$7,954,436$1,614,455$200,017$9,768,908
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Able Communitychicago, IL-coop Development Grant '17$20,000
Brick & Mortar collectiveDetroit, MI-coop Development Grant '18$20,000
Hasla Muerte CofficeOakland, CA-coop Development Grant '16$10,000
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$540,318
Interest Payable$50,745

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Enterprise Dev2016-09-22$17,600,000Refund Prior Issue (Seismic &

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$17,600,000$17,281,959-$318,041

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
Backup withholding compliance
Yes
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 full-time University or college students 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 with regard to 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, it 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.In 2016, the BSC also engaged a professional compensation consultant to review and advise the Board on all professional staff salaries/wages.

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.In 2016, the BSC also engaged a professional compensation consultant to review and advise the Board on all professional staff salaries/wages.

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
2019-04-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Benson
Formed
1934
Legal Domicile
CA
Voting Board Members
29
Independent Board Members
21
Employees
56
Volunteers
1,270

Preparer

Firm
Hagop J Markarian Corporation
Address
16000 VENTURA BLVD SUITE 1000, ENCINO, CA 91436
Preparer
Hagop J Markarian Ea
Phone
8187891584
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

BSC holds money for individual houses in various separate accounts. This money is raised by houses for their use.BSC is comprised of approximately 1,270 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 unit levels that are not included in the BSC room & board or rent contracts such as cable TV, newspapers and periodicals, internet 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, 2018, 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; 2017, 2016 and 2015, 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
2018Detailed filing. Detailed filing data is available for this year.$52.0$19.5$32.5$12.3$9.77$2.57
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