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← LOS ANGELES COUNTY SCHOOLS REGIONALIZED BUS SERVICES

Form 990 for tax year 2023

Filed by LOS ANGELES COUNTY SCHOOLS REGIONALIZED BUS SERVICES.

Totals

Total revenue
$5,554,340
Total expenses
$4,867,917
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$5,554,340
Other revenue
$0
Total assets, end of year
$163,002,409
Total liabilities, end of year
$170,726,082
Net assets or fund balances, end of year
-$7,723,673
Program services expenses (Part IX)
$4,867,917
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,867,917

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $5,554,340 · excluded $5,554,340

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $5,554,340 · program services $5,554,340

  • 24a · Other expenses: DEBT EXTINGUISHMENT

    total $205,687 · program services $205,687

  • 24b · Other expenses: AMORTIZATION, NET

    total -$892,110 · program services -$892,110

Balance sheet

Part X, book values.

  • 11 · Investments: publicly traded securities

    beginning of year $61,781,361 · end of year $54,152,622

  • 15 · Other assets

    beginning of year $144,088,493 · end of year $108,849,787

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,441,578 · end of year $354,512

  • 19 · Deferred revenue

    beginning of year $39,203,313 · end of year $31,224,261

  • 25 · Other liabilities

    beginning of year $162,635,059 · end of year $139,147,309

  • 27 · Net assets without donor restrictions

    beginning of year -$8,410,096 · end of year -$7,723,673

Mission and programs · 2023

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.

Activities or mission (Part I)

TO ASSIST MEMBER SCHOOL DISTRICTS IN THE ADMINISTRATION OF TAX EXEMPT BOND FINANCING.

  • THE PURPOSE OF THE CORPORATION IS TO ADMINISTER THE ISSUANCE AND REPAYMENT OF BONDS ON BEHALF OF MEMBER PUBLIC SCHOOL DISTRICTS FOR ACQUISITION OF EQUIPMENT AND BUILDINGS CONSTRUCTION AND IMPROVEMENTS. IN 2023, THE CORPORATION GENERATED $5.5 MILLION IN REVENUE. THESE PROCEEDS HELPED TO SUPPORT 1.2 MILLION STUDENTS THROUGHOUT THE 79 K-12 LA COUNTY SCHOOL DISTRICTS.

    Expenses $4,867,917

As filed on the 2023 return.

Listed in Part VII

  • Dr Anthony Culpepper

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mrs Julie Boucher

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mr John Nunez

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Lin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Frank Bostrom

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Jeff Young

    EXEC. DIRECTOR (TERM END 5/2024)

    Total calculated
    $0
    Hours/week
    1

  • Mr Phillip Downing

    EXEC. DIRECTOR (TERM START 8/2024)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
19 December 2024
IRS schema version
2023v5.1
Source object
202423559349301852

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