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Nonprofiteer
← PITTSBURG UNIFIED SCHOOL DISTRICT FINANCING CORPORATION

Form 990 for tax year 2022

Filed by PITTSBURG UNIFIED SCHOOL DISTRICT FINANCING CORPORATION.

Totals

Total revenue
$669,829
Total expenses
$669,829
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$669,829
Investment income
$0
Other revenue
$0
Total assets, end of year
$640,000
Total liabilities, end of year
$640,000
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$669,829
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$669,829

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.

  • 2a · Program service revenue: PUSD LEASE

    total $669,829 · related or exempt $669,829

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $24,829 · program services $24,829

  • 24a · Other expenses: PRINCIPAL DEBT PAYMENTS

    total $645,000 · program services $645,000

Balance sheet

Part X, book values.

  • 7 · Other notes and loans receivable

    beginning of year $1,285,000 · end of year $640,000

  • 25 · Other liabilities

    beginning of year $1,285,000 · end of year $640,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO RENDER ASSISTANCE TO PITTSBURG UNIFIED SCHOOL DISTRICT BY PROVIDING FUNDING FOR CAPITAL IMPROVEMENTS FOR USE BY PITTSBURG USD. THE CORPORATION PROVIDES FOR THE CONTRUCTION THROUGH BONDED INDEBTEDNESS FINANCING AND SUBLEASES THE PROPERTY BACK TO PITTSBURG USD.

Activities or mission (Part I)

TO ASSIST PITTSBURG UNIFIED SCHOOL DISTRICT BY PROVIDING FUNDING FOR CAPITAL IMPROVEMENTS.

  • THE CORPORATION PROVIDES FOR THE CONSTRUCTION OF BUILDINGS, FINANCED THROUGH THE ISSURANCE OF BOND INDEBTEDNESS, AND SUBLEASES THE PROPERTIES BACK TO THE PITTSBURG USD THROUGH LEASE AGREEMENTS. THE RENTAL PROCEEDS FROM THE SUBLEASE ARE USED TO PAY PRINCIPAL AND INTEREST ON THE BONDED INDEBTEDNESS.

    Expenses $669,829 · Revenue $669,829

As filed on the 2022 return.

Listed in Part VII

  • Taylor Sims

    PRESIDENT/CEO

    Total calculated
    $4,400
    From this org
    $0
    From related orgs
    $4,400
    Other
    $0
    Hours/week
    1 + 2 related

  • Heliodoro Moreno

    VICE PRESIDENT

    Total calculated
    $3,600
    From this org
    $0
    From related orgs
    $3,600
    Other
    $0
    Hours/week
    1 + 2 related

  • George Miller

    TRUSTEE

    Total calculated
    $24,850
    From this org
    $0
    From related orgs
    $4,800
    Other
    $20,050
    Hours/week
    1 + 2 related

  • De'Shawn Woolridge

    TRUSTEE

    Total calculated
    $4,800
    From this org
    $0
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    1 + 2 related

  • Destiny Briscoe

    TRUSTEE

    Total calculated
    $400
    From this org
    $0
    From related orgs
    $400
    Other
    $0
    Hours/week
    1 + 2 related

  • Janet Schulze

    SUPERINTENDENT/SECRETARY

    Total calculated
    $338,327
    From this org
    $0
    From related orgs
    $279,161
    Other
    $59,166
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,740 related
    Bonus
    $0
    Other
    $0 + $13,421 related
    Deferred
    $0 + $47,833 related
    Nontaxable benefits
    $0 + $11,333 related
    Filer's total
    $0 + $338,327 related

  • Hitesh Haria

    ASSOC. SUPT./CFO

    Total calculated
    $281,655
    From this org
    $0
    From related orgs
    $224,239
    Other
    $57,416
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,439 related
    Bonus
    $0
    Other
    $0 + $4,800 related
    Deferred
    $0 + $52,973 related
    Nontaxable benefits
    $0 + $4,443 related
    Filer's total
    $0 + $281,655 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE RELATED ORGANIZATION, PITTSBURG UNIFIED SCHOOL DISTRICT, USES WRITTEN EMPLOYMENT CONTRACTS AND APPROVAL BY THE BOARD AS ITS METHODS OF COMPENSATION FOR INDIVIDUALS HOLDING THE POSITIONS OF SUPERINTENDENT AND ASSOCIATE SUPERINTENDENT OF BUSINESS SERVICES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PITTSBURG UNIFIED SCHOOL DISTRICT

    K-12 EDUCATION · CA

  • PITTSBURG UNIFIED SCHOOL DISTRICT FINANCING AUTHORITY

    JOINT POWERS AUTHORITY · CA

Provenance

Return type
form_990
Tax year
2022
Filed
18 April 2024
IRS schema version
2022v5.0
Source object
202421109349301707

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