Inland Empire Tobacco Securitizati… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

Jeff Van Wagenen

Phone

9519551000

Tax Period

2023-07-01 to 2024-06-30

Inland Empire Tobacco Securitization Corporation, founded in 2007, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $10.2M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $9.3M left a modest 9% surplus.

Mission

TO FACILITATE THE TOBACCO SETTLEMENT PROCEEDS FOR THE COUNTY OF RIVERSIDE.

Program Service Accomplishments

Program 1

Expenses: $9,155,292 Revenue: $9,501,168

THE ORGANIZATION RECEIVES TOBACCO SETTLEMENT PROCEEDS AND DISTRIBUTES THE PROCEEDS FOR THE BENEFIT OF THE COUNTY OF RIVERSIDE AND ITS RESIDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,501,168

Investment Income $676,592

Other Revenue $0

TOTAL REVENUE $10,177,760

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $9,155,292

Other Expenses $9,272,792

TOTAL EXPENSES $9,272,792

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,177,760	$12,053,385	-0.2%
Expenses	$9,272,792	$9,625,832	0.0%
Net Income	$904,968	$2,427,553	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeff Van Wagenen	Director	1.00	Director	$0	$0	$0
Matt Jennings	Director	1.00	Director	$0	$0	$0
Dan Wiles	Director	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$10,177,760	$9,272,792	$238,628,233	$904,968
2023	$12,053,385	$9,625,832	$245,218,390	$2,427,553
2022	$14,504,079	$10,024,497	$252,558,043	$4,479,582
2021	$12,773,889	$10,431,872	$259,604,903	$2,342,017
2020	$11,686,732	$11,066,095	$266,694,932	$620,637
2019	$12,865,674	$30,009,474	$274,072,656	$-17,143,800
2018	$13,384,357	$13,057,303	$287,244,317	$327,054

Inland Empire Tobacco Securitization Corporation