West Kern Community College District Facilities Corporation in Taft, California (CA)

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West Kern Community College District Facilities Corporation
Employer Identification Number (EIN)770292818
Name of OrganizationWest Kern Community College District Facilities Corporation
In Care of NameCarolyn Roberts
Address29 Emmons Park Dr, Taft, CA 93268-2317
ActivitiesSchool, college, trade school, etc., Student housing activities, Other school related activities
SubsectionSocial Welfare Organization
Ruling Date02/1992
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2007
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$19,555,947
Amount of Income$11,248,388
Form 990 Revenue Amount$11,248,388
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Community or Junior Colleges


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Amount of income in 2007: $11,248,388
This organization: 

 $11,248,388
Other organizations performing similar types of work: 

 $25,949,576

Assets in 2007: $19,555,947
West Kern Community College District Facilities Corporation: 

 $19,555,947
Other organizations performing similar types of work: 

 $33,379,675

Expenses in 2006: $189
This organization: 

 $189
Other organizations performing similar types of work: 

 $18,478,196

Income to expenses ratio in 2006: 59,515.3
This organization: 

 59,515.3
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2006: 100.0%
West Kern Community College District Facilities Corporation: 

 100.0%
Other organizations performing similar types of work: 

 80.3%

Grants share in income in 2006: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 18.0%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020052006
Total revenue$411,231$10,780,235$11,248,388
Contributions, gifts, grants, and similar amounts received$0$0$0
Contributions to donor advised funds$0
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$37,912$243,014$760,666
Dividends and interest from securities$0$0$0
Net rental income or (loss)$353,664$0$0
Gross rents$353,664$0$0
Less: rental expenses$0$0$0
Other investment income$19,655$10,537,221$10,487,722
Gain or (loss) from sales of assets other than inventory$0$0$0
Gross amount from sales of assets other than inventory$0$0$0
Less: cost or other basis and sales expenses$0$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$695,834$2,599,480$189
Program services$695,834$2,599,480$189
Management and general$0$0$0
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$-287,198$8,307,748$19,555,947
Excess or (deficit) for the year$-284,603$8,180,755$11,248,199
Net assets or fund balances at beginning of year$-2,595$126,993$8,307,748
Other changes in net assets or fund balances$0$0$0
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$189$189$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$81$81$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$108$108$0$0
Balance Sheets
200020052006
Total assets$2,576,428$11,259,379$19,555,947
Cash - non-interest-bearing$0$0$4,653
Savings and temporary cash investments$229$468,157$0
Accounts receivable less allowance for doubtful accounts$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities$10,487,722
Investments - other securities$898,802$10,791,222$0
Investments - land, buildings, and equipment less accumulated depreciation$1,677,397$0$9,063,572
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0
Other assets, including program-related investments$0$0$0
Total liabilities$2,863,626$2,951,631$0
Accounts payable and accrued expenses$443,626$2,951,631$0
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$2,420,000$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$2,576,428$11,259,379$19,555,947
Total net assets or fund balances$-287,198$8,307,748$19,555,947
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020052006
Total revenue$411,231$10,780,235$11,248,388
Total revenue, gains, and other support per audited financial statements$411,231$10,780,235$11,248,388
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020052006
Total expenses$695,834$2,599,480$189
Total expenses and losses per audited financial statements$695,834$2,599,480$189
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$760,666$10,487,722
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$760,666$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$10,487,722
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
199920042005
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Board Of Trustees Of Essex County College303 University Ave, Newark, NJ 07102-1719NJ1968-08$125,511,181
2Cottey College1000 W Austin Blvd, Nevada, MO 64772-2763MO1959-06$88,671,500
3Ranken Technical College4431 Finney Ave, Saint Louis, MO 63113-2811MO1935-02$79,866,723
4Santa Fe College3000 Nw 83rd St, Gainesville, FL 32606-6210FL1970-04$77,357,330
5Muskingum College, Muskingum Valley Symphonic Winds191 Hillcrest Dr, New Concord, OH 43762OH1936-05$61,384,722
6Young Harris CollegePO BOX 68, Young Harris, GA 30582-0068GA1942-04$60,960,952
7Dean College99 Main St, Franklin, MA 02038-1941MA1946-09$55,216,573
8North Greenville UniversityPO BOX 1892, Tigerville, SC 29688-1892SC1946-07$50,596,244
9Becker College61 Sever Street, Worcester, MA 01609MA1949-04$50,293,397
10Baker College Of Clinton Township34950 Little Mack Ave, Clinton Twp, MI 48035-4701MI2000-02$41,432,745
11Baker College Of Muskegon1903 Marquette Ave, Muskegon, MI 49442-1453MI1988-10$41,187,429
12Northwest UniversityPO BOX 579, Kirkland, WA 98083-0579WA1955-08$37,390,585
13Lincoln University300 Keokuk St, Lincoln, IL 62656-1630IL1942-10$35,442,636
14Mitchell College437 Pequot Ave, New London, CT 06320-4452CT1946-09$35,418,633
15Bethany Lutheran College & Seminary Inc700 Luther Dr, Mankato, MN 56001-6163MN1966-03$34,745,620
16Saint Marys School900 Hillsborough St, Raleigh, NC 27603-1610NC1938-02$30,364,769
17Martin Methodist College433 W Madison St, Pulaski, TN 38478-2716TN1946-12$26,155,248
18Trocaire College360 Choate Ave, Buffalo, NY 14220-2003NY$25,949,576
19West Kern Community College District Facilities Corporation29 Emmons Park Dr, Taft, CA 93268-2317CA1992-02$11,248,388
20Pacific Education Foundation220 Montgomery St Ste 963, San Francisco, CA 94104-3418CA1978-01$65,126
Number of organizations performing similar types of work
California2
Connecticut1
Florida2
Georgia1
Illinois4
Kentucky1
Massachusetts3
Michigan2
Minnesota3
Missouri2
North Carolina3
New Jersey1
New York3
Ohio1
Oklahoma1
Pennsylvania1
South Carolina2
Tennessee2
Texas2
Washington2
Total39

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