Civic Intelligence

Los Angeles County Schools Regionalized Business Services Corp

990 • Fiscal year 2015 • EIN 95-4038658

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 12, 2015

Organization ProfileN/A
9300 East Imperial HighwayDowney, CA 90242

(562) 922-6144

Siviq Scores

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

Liabilities / Assets

95th percentile

1.02x

Higher debt load relative to assets than 95% of similar nonprofits.

2015 filings • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

32.43x

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

2015 filings • $100M-$250M nonprofits • Source year 2015

Net Margin

3rd percentile

-84%

Higher net margin than 3% of similar nonprofits.

2015 filings • $100M-$250M nonprofits • Source year 2015

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.

2015 filings • $100M-$250M nonprofits • Source year 2015

Asset Growth

97th percentile

62%

Faster asset growth than 97% of similar nonprofits.

2015 filings • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

92nd percentile

48%

Faster revenue growth than 92% of similar nonprofits.

2015 filings • $100M-$250M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$247,313,910

Up $94,555,928 (+62%) from 2014

Net Assets

Down

-$4,989,977

Down $6,546,282 (-421%) from 2014

Liabilities

Up

$252,303,887

Up $101,102,210 (+67%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Up

$7,780,792

Up $2,516,715 (+48%) from 2014

Expenses

Up

$14,327,074

Up $9,080,467 (+173%) from 2014

Net Income

Down

-$6,546,282

Down $6,563,752 (-37572%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$300M$200M$100M$0-$100MAssets 2012: $169,322,306Liabilities 2012: $167,752,975Net Assets 2012: $1,569,3312012Assets 2013: $155,550,745Liabilities 2013: $154,011,910Net Assets 2013: $1,538,8352013Assets 2014: $152,757,982Liabilities 2014: $151,201,677Net Assets 2014: $1,556,3052014Assets 2015: $247,313,910Liabilities 2015: $252,303,887Net Assets 2015: -$4,989,9772015Assets 2016: $222,415,672Liabilities 2016: $226,879,575Net Assets 2016: -$4,463,9032016Assets 2017: $175,688,611Liabilities 2017: $179,941,830Net Assets 2017: -$4,253,2192017Assets 2018: $142,559,545Liabilities 2018: $146,340,736Net Assets 2018: -$3,781,1912018Assets 2019: $127,371,195Liabilities 2019: $130,583,304Net Assets 2019: -$3,212,1092019Assets 2020: $136,428,398Liabilities 2020: $141,356,492Net Assets 2020: -$4,928,0942020Assets 2021: $242,437,757Liabilities 2021: $254,653,285Net Assets 2021: -$12,215,5282021Assets 2022: $220,744,015Liabilities 2022: $230,183,046Net Assets 2022: -$9,439,0312022Assets 2023: $205,869,854Liabilities 2023: $214,279,950Net Assets 2023: -$8,410,0962023Assets 2024: $163,002,409Liabilities 2024: $170,726,082Net Assets 2024: -$7,723,6732024Assets 2025: $131,780,652Liabilities 2025: $138,718,768Net Assets 2025: -$6,938,1162025

Highlighted filing

2015

Assets$247,313,910
Liabilities$252,303,887
Net Assets-$4,989,977
Open 2015 Filing

Operations Trend

Revenue Growth92nd percentile

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

$20M$10M$0-$10MExpenses 2012: $6,628,3282012Expenses 2013: $6,428,4282013Revenue 2014: $5,264,077Expenses 2014: $5,246,607Net Income 2014: $17,4702014Revenue 2015: $7,780,792Expenses 2015: $14,327,074Net Income 2015: -$6,546,2822015Revenue 2016: $6,524,246Expenses 2016: $5,998,172Net Income 2016: $526,0742016Revenue 2017: $3,789,864Expenses 2017: $3,579,181Net Income 2017: $210,6832017Revenue 2018: $5,615,807Expenses 2018: $5,143,779Net Income 2018: $472,0282018Revenue 2019: $5,196,618Expenses 2019: $4,627,536Net Income 2019: $569,0822019Revenue 2020: $5,468,856Expenses 2020: $7,184,841Net Income 2020: -$1,715,9852020Revenue 2021: $5,164,216Expenses 2021: $12,451,650Net Income 2021: -$7,287,4342021Revenue 2022: $6,235,442Expenses 2022: $3,458,945Net Income 2022: $2,776,4972022Revenue 2023: $5,826,287Expenses 2023: $4,797,352Net Income 2023: $1,028,9352023Revenue 2024: $5,554,340Expenses 2024: $4,867,917Net Income 2024: $686,4232024Revenue 2025: $3,212,105Expenses 2025: $2,426,548Net Income 2025: $785,5572025

Highlighted filing

2015

Revenue$7,780,792
Expenses$14,327,074
Net Income-$6,546,282
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 12, 2015
Return Version
2014v5.0
Gross Receipts
$7,780,792
Mission and Program Overview

Mission

To assist member school districts in the administration of tax-exempt bonds. To provide services necessary/appopriate for the establishment, operation and maintenance of regionalized business services and programs for public schools, community colleges, and lacoe.

To assist member school districts in the administration of bonds. To provide services necessary and appopriate for the establishment, operation and maintenance of regionalized business services and programs for public schools, community colleges, and the los angeles county office of education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,760,385$55,661,384▲ $51,900,999
Total Assets$152,757,982$247,313,910▲ $94,555,928
Other Assets Total$148,997,597$191,652,526▲ $42,654,929
Liabilities
Other Liabilities$96,319,777$188,265,195▲ $91,945,418
Deferred Revenue$39,775,312$48,859,113▲ $9,083,801
Accounts Payable and Accrued Expenses$15,106,588$15,179,579▲ $72,991
Total Liabilities$151,201,677$252,303,887▲ $101,102,210
Net Assets / Fund Balance
Unrestricted Net Assets$1,556,305$-4,989,977▼ $6,546,282
Total Net Assets Fund Balance$1,556,305$-4,989,977▼ $6,546,282
Total Liabilities and Net Assets / Fund Balance$152,757,982$247,313,910▲ $94,555,928

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$554,730--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Dr Stephen R HodgsonPresident
Dr Nancy NienMember
Mr Frank OgazMember
Ms Ann-marie GabelSecretary
Ms Julie BoucherVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$7,628,232
Other Revenue
$152,560
Change in Net Assets
$-6,546,282

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,780,792
Total Revenue per Audited Statements
$7,780,792
Total Revenue per Form 990
$7,780,792
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,327,074
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$4,808,195--$4,808,195
Other Expenses$135,675--$135,675
Total Functional Expenses$14,327,074$0$0$14,327,074

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,327,074
Total Expenses per Audited Statements$14,327,074
Total Expenses per Form 990$14,327,074
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Bonds Payable$124,814,114
Due to Districts$55,223,204
Certificate Issuance Premium$8,227,877
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Page 6, Part VI, Line 11B

“Form 990 is sent to all board members for review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Officers and directors are required to annually disclose interests that could potentially result in conflicts.”

Form 990, Page 6, Part VI, Line 19

“Governing document, conflict of interest policy, and financial statements are available upon written request sent to the address on page 1.”

Filing and Contact Details

Filer

Filer Name
Los Angeles County Schools
EIN
95-4038658
Phone
5629226144
Address
9300 EAST IMPERIAL HIGHWAY, DOWNEY, CA 90242

Signing Officer

Name
Gerald Yarbrough
Title
Business Advisory Srvs Manager
Phone
5629226144
Signed
2015-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keith Crafton
Formed
1985
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Vicenti Lloyd & Stutzman
Address
2210 E ROUTE 66 STE 100, GLENDORA, CA 91740-4676
Preparer
Timothy D Evans CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To assist member school districts in the administration of bonds. To provide services necessary and appopriate for the establishment, operation and maintenance of regionalized business services and programs for public schools, community colleges, and the los angeles county office of education.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation has evaluated its tax positions and the certainty as to whether those positions will be sustained in the event of an audit by taxing authorities at the federal and state levels. The primary tax positions evaluated are related to the corporation's continued qualification as a tax-exempt organization and whether there is unrelated business income activities conducted that would be taxable. Management has determined that all income tax positions are more likely than not (>50%) of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required.”

Raw XML Appendix287 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/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS EVALUATED ITS TAX POSITIONS AND THE CERTAINTY AS TO WHETHER THOSE POSITIONS WILL BE SUSTAINED IN THE EVENT OF AN AUDIT BY TAXING AUTHORITIES AT THE FEDERAL AND STATE LEVELS. THE PRIMARY TAX POSITIONS EVALUATED ARE RELATED TO THE CORPORATION'S CONTINUED QUALIFICATION AS A TAX-EXEMPT ORGANIZATION AND WHETHER THERE IS UNRELATED BUSINESS INCOME ACTIVITIES CONDUCTED THAT WOULD BE TAXABLE. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT (>50%) OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST MEMBER SCHOOL DISTRICTS IN THE ADMINISTRATION OF BONDS. TO PROVIDE SERVICES NECESSARY AND APPOPRIATE FOR THE ESTABLISHMENT, OPERATION AND MAINTENANCE OF REGIONALIZED BUSINESS SERVICES AND PROGRAMS FOR PUBLIC SCHOOLS, COMMUNITY COLLEGES, AND THE LOS ANGELES COUNTY OFFICE OF EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS SENT TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS AND DIRECTORS ARE REQUIRED TO ANNUALLY DISCLOSE INTERESTS THAT COULD POTENTIALLY RESULT IN CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENT, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST SENT TO THE ADDRESS ON PAGE 1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt014327074
IRS990/TotalFunctionalExpensesGrp/TotalAmt014327074
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0151201677
IRS990/TotalLiabilitiesEOYAmt0252303887
IRS990/TotalLiabilitiesGrp/BOYAmt0151201677
IRS990/TotalLiabilitiesGrp/EOYAmt0252303887
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01556305
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-4989977
IRS990/TotalProgramServiceExpensesAmt014327074
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07780792
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07780792
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0152757982
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0247313910
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01556305
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-4989977
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09300 IMPERIAL HIGHWAY
IRS990/USAddress/CityNm0DOWNEY
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090242
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GERALD YARBROUGH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BUSINESS ADVISORY SRVS MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum05629226144
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOS ANGELES COUNTY SCHOOLS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0REGIONAL BUSINESS SERVICES
ReturnHeader/Filer/BusinessNameControlTxt0LOSA
ReturnHeader/Filer/EIN0954038658
ReturnHeader/Filer/PhoneNum05629226144
ReturnHeader/Filer/USAddress/AddressLine1Txt09300 EAST IMPERIAL HIGHWAY
ReturnHeader/Filer/USAddress/CityNm0DOWNEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952242818
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VICENTI LLOYD & STUTZMAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 E ROUTE 66 STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0917404676
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TIMOTHY D EVANS CPA
ReturnHeader/ReturnTs02015-11-16T12:43:29-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$247,313,910
Liabilities
$252,303,887
Net assets
-$4,989,977
Revenue
$7,780,792
Expenses
$14,327,074
Net income
-$6,546,282
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$132$139$6.94$3.21$2.43$0.79
2024Detailed filing. Detailed filing data is available for this year.$163$171$7.72$5.55$4.87$0.69
2023Detailed filing. Detailed filing data is available for this year.$206$214$8.41$5.83$4.80$1.03
2022Detailed filing. Detailed filing data is available for this year.$221$230$9.44$6.24$3.46$2.78
2021Detailed filing. Detailed filing data is available for this year.$242$255$12.2$5.16$12.5$7.29
2020Detailed filing. Detailed filing data is available for this year.$136$141$4.93$5.47$7.18$1.72
2019Detailed filing. Detailed filing data is available for this year.$127$131$3.21$5.20$4.63$0.57
2018Detailed filing. Detailed filing data is available for this year.$143$146$3.78$5.62$5.14$0.47
2017Detailed filing. Detailed filing data is available for this year.$176$180$4.25$3.79$3.58$0.21
2016Detailed filing. Detailed filing data is available for this year.$222$227$4.46$6.52$6.00$0.53
2015Detailed filing. Detailed filing data is available for this year.$247$252$4.99$7.78$14.3$6.55
2014Detailed filing. Detailed filing data is available for this year.$153$151$1.56$5.26$5.25$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$156$154$1.54$6.43
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$169$168$1.57$6.63