Chula Vista Elementary School District Public Facilities Financing Corporation

Nonprofit profile at a glance

EIN
300874856
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Chula Vista, CA, USA
Phone
6194259600
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$15,422,707
Expenses
$15,417,675
Assets
$30,054
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • OSCAR ESQUIVEL (FORMER PRESIDENT)
  • Mark Pong (President)
  • Francisco Tamayo (Vice President)

Highest reported compensation

  • Eduardo Reyes EdD (Secretary): $454,825 total reported compensation
  • OSCAR ESQUIVEL (FORMER PRESIDENT): $234,807 total reported compensation
  • KRISTIN ARMATIS (FORMER CHIEF FINANCIAL OFFICER): $190,291 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide assistance to the chula vista elementary school district, by, among other methods, acquiring, leasing, constructing or financing various public facilities.

What it reported doing in 2024

All of the corporation's time and resources are devoted to leasing property from, and leasing property to, the chula vista elementary school district the corporate activity. The corporate activity was initiated on or about october 12, 2000. The corporate activity furthers the corporation's exempt purpose by enabling the chula vista elementary school district the district to engage in capital financing transactions in order to provide facilities for the public educational mission of the district. The corporate activity is conducted within the geographical boundaries of the district through the board of directors and officers of the corporation.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 86
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: -23.5% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.4M in reported program spending
  • Leadership: top reported pay $455K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.