Sacramento Co Public Facilities Financing Corp

Nonprofit profile at a glance

EIN
680049947
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Sacramento, CA, USA
Phone
9168745473
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$5,295,050
Expenses
$5,102,754
Assets
$87,074,542
Liabilities
$86,750,780

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

Leadership & pay

7 people listed

Executive titles in this filing

  • PHIL SERNA (PRESIDENT)

People named in this filing

  • PATRICK KENNEDY (DIRECTOR)
  • ROSARIO RODRIGUEZ (DIRECTOR)
  • RICH DESMOND (DIRECTOR)

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 primary purpose of the organization is to provide financial assistance to the county of sacramento by financing the acquisition, construction, improvement, and remodeling of public buildings, facilities, and equipment.

What it reported doing in 2024

The primary purpose of the organization is to provide financial assistance to the county of sacramento by financing the acquisition, construction, improvement, and remodeling of public buildings, facilities, and equipment. A.2003 cop (juvenile courthouse projects) to finance the construction of a new three-story juvenile courthouse (located at the corner of branch center road and kiefer boulevard, 99,456 square feet) consisting of six courtrooms (and space for two additional courtrooms for future expansion), support services areas (holding cell areas, attorney conference rooms, judges chambers and court clerk area) and administrative support services areas (for court and sheriffs staff, court records, child waiting area, and public waiting areas). B. 2018 refunding cop to refund and retire all outstanding principal amounts of the county's 1997 refunding cop, 2003 cop (public facilities projects), 2006 cop (public facilities financing), and 2007 cop (animal care/youth detention projects), fund the reserve fund, and pay the cost of financing.c. 2020 refunding cop to refund and retire all outstanding principal amounts of the county's 2010 refunding cop, fund the reserve fund, and pay the cost of financing.d. 2020 sunrise refunding cop to refund and retire all outstanding principal amounts of sunrise 2007 cop, and pay the cost of financing.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating 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. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 61
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.7%; rating input score 97
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.6%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 17.06; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -31.9% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -29.5% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -10.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 96.7% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5.1M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 filed related-organization links
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.