Desert College Financing Corp

Nonprofit profile at a glance

EIN
465056625
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Indio, CA, USA
Phone
7607732513
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$10,199,875
Expenses
$3,742,949
Assets
$126,645,483
Liabilities
$116,901,968

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

Leadership & pay

6 people listed

Executive titles in this filing

  • VAL MARTINEZ GARCIA (PRESIDENT)

People named in this filing

  • VAL MARTINEZ GARCIA (PRESIDENT)
  • RUBEN PEREZ (MEMBER)
  • DIANE RUBIN (VICE CHAIR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The organization was organized for the purpose of promoting the common good and general welfare of the residents of indio, ca (the "city"), including the desert community college district (the "district") and other local government enterprises, through the rendering of financial assistance thereto. The organization will accomplish this primarily through the acquisition, leasing or selling of buildings, building improvements, etc. For the benefit of residents of the city, the district and surrounding areas.the organization acquired a certain parcel of real property and exisiting facilities situated in riverside county, California (the "facility") by lease and leased the facility back to the district. The facility is operated as an education center by the district.

What it reported doing in 2024

The organization is a qualified active low income community business under internal revenue code section 45d, and has engaged in a new markets tax credit transaction (the "transaction"). The transaction provides the organization with a long-term leasehold interest in a state of the art education facility (the "facility") situated in riverside county, ca. The organization acquired the facility by lease and leased the facility back to the district.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.7%; rating input score 37
  • 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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 63.3%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 33.84; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 19.5% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 29.2% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 22.8% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 36.7% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.7M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.