California School Boards Assn Finance Corporation

Organization Overview

California School Boards Assn Finance Corporation is located in West Sacramento, CA. The organization was established in 1988. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California School Boards Assn Finance Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 06/2023, California School Boards Assn Finance Corporation generated $136.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $199.8k during the year ending 06/2023. While expenses have increased by 7.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE FINANCIAL ASSISTANCE SERVICES TO PUBLIC SCHOOL DISTRICTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THROUGH THE CALIFORNIA CASH RESERVE PROGRAM, SCHOOL DISTRICTS ARE OFFERED TAX AND REVENUE ANTICIPATION NOTES (TRANS). TRANS ARE TAX-EXEMPT, SHORT-TERM SECURITIES USED EXTENSIVELY BY ALL TYPES OF GOVERNMENTAL ENTITIES AS A CASH MANAGEMENT TOOL. STATE AND LOCAL GOVERNMENTS, COUNTY OFFICES OF EDUCATION, SCHOOL DISTRICTS AND COMMUNITY COLLEGE DISTRICTS ISSUE TRANS TO SUPPLEMENT THEIR GENERAL FUND CASH RESERVES FOR THE FISCAL YEAR AND TO ACT AS A CUSHION FOR ANY TEMPORARY CASH FLOW NEEDS.


THE FLEXFUND PROGRAM IS A LEASE/PURCHASE FINANCING PROGRAM FOR FINANCINGS UNDER $1.5 MILLION THAT PROVIDES LOW-COST BORROWING TO DISTRICTS FOR CAPITAL IMPROVEMENTS AND EQUIPMENT PURCHASES SUCH AS: ENERGY MODERNIZATION PROJECTS, BUS AND RELOCATABLE PURCHASES, AND OUTFITTING COMPUTER LABS WITH HARDWARE, SOFTWARE AND FURNISHINGS. THE GO BOND PROGRAM SAVES TAXPAYERS MONEY BY REFINANCING OUTSTANDING DEBT OBLIGATION BONDS INTO LOWER INTEREST RATES. SMALLER REFINANCINGS CAN BE COMPLETED BY COMBINING HIGH FIXED COSTS INTO REFUNDING POOLS.TOTAL FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES


OPEB SOLUTIONS PROGRAM IS A FULL SERVICE GASB-COMPLIANT, IRS-APPROVED TRUST PROGRAM DESIGNED TO HELP DISTRICTS AND COUNTY OFFICES OF EDUCATION OFFER NON-PENSION RETIREMENT BENEFITS AND LOWER THEIR OTHER POST EMPLOYMENT BENEFITS (OPEB)LIABILITY. THIS IS TO COMPLY WITH GOVERNMENT ACCOUNTING STANDARD BOARD STATEMENT NOS. 45 AND 75. THESE ACCOUNTING STANDARDS REQUIRE DISTRICTS AND COUNTY OFFICES OF EDUCATION TO RECORD THEIR OTHER POST-EMPLOYMENT BENEFITS AS AN EXPENSE AND OBLIGATION ON THEIR FINANCIAL STATEMENTS.


THE CERTIFICATES OF PARTICIPATION PROGRAM PROVIDES DISTRICTS AN OPTION TO FINANCE CAPITAL EQUIPMENT OR REAL PROPERTY ACQUISITIONS AND IMPROVEMENTS. THROUGH THIS PROGRAM, SCHOOLS CAN UTILIZE THE FINANCE CORPORATION AS THE NOT-FOR-PROFIT CORPORATION WHILE ACCESSING THE SERVICES OF THE CSBA FINANCE CORPORATION'S FINANCING TEAM. DISTRICTS CAN TAKE ADVANTAGE OF FIXED OR VARIABLE RATE FINANCING OPTIONS.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$100,100
Investment income $36,840
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $136,940

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