LCTCS FACILITIES CORPORATION (EIN 261871311) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

STEPHEN C SMITH

Phone

5045447700

Tax Period

2023-01-01 to 2023-12-31

LCTCS FACILITIES CORPORATION is a 501(c)(3) with EIN 261871311, based in METAIRIE, LA. Founded in 2007, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $35,906,032 in total revenue and $22,745,462 in total expenses, with net assets of $109,427,800.

Mission

TO DEVELOP, ACQUIRE, PURCHASE, REPAIR, IMPROVE, RENOVATE, AND EXPAND CERTAIN PUBLIC FACILITIES ON FOURTEEN OF THE EXISTING CAMPUSES OF THE LOUISIANA COMMUNITY AND TECHNICAL COLLEGE SYSTEM,INCLUDING ALL FURNISHINGS, FIXTURES AND EQUIPMENT INCIDENTAL OR NECESSARY IN CONNECTION THEREWITH (THE "FACILITIES") FOR VARIOUS COMMUNITY AND TECHNICAL COLLEGE CAMPUSES (THE "COLLEGES"), SUCH FACILITIES LOCATED ON LAND OWNED OR TO BE OWNED BY THE BOARD OF SUPERVISORS OF THE LOUISIANA COMMUNITY AND TECHNICAL COLLEGE SYSTEM (THE "BOARD") ALL IN ACCORDANCE WITH ACT 391 OF THE 2007 REGULAR SESSION OF THE LOUISIANA LEGISLATURE AND ACT 360 OF THE 2013 REGULAR SESSION OF THE LOUISIANA LEGISLATURE; PAYING CAPITALIZED INTEREST ON THE SERIES 2014,2017,2018 & 2019 BONDS; FUNDING A DEBT SERVICE RESERVE FUND; AND PAYING COSTS OF ISSUANCE OF THE SERIES 2014,2017,2018 & 2019 BONDS, INCLUDING THE PREMIUMS FOR THE BOND INSURANCE POLICIES INSURING THE SERIES 2014,2017,2018 & 2019 BONDS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,687,114

Program Service Revenue $30,712,047

Investment Income $2,506,871

Other Revenue $0

TOTAL REVENUE $35,906,032

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,703,122

Other Expenses $22,745,462

TOTAL EXPENSES $22,745,462

Year-over-Year Comparison

	2023	2022	Change
Revenue	$35,906,032	$43,360,911	-0.2%
Expenses	$22,745,462	$26,083,854	-0.1%
Net Income	$13,160,570	$17,277,057	-0.2%

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

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
STEPHEN C SMITH	BOARD CHAIR	8.00	Officer Director	$0	$0	$0
LAMBERT C BOISSIERE JR	BOARD SECRETARY/TREASURER	0.50	Director	$0	$0	$0
JUDGE U GENE THIBODEAUX	BOARD DIRECTOR	0.50	Director	$0	$0	$0
BILLY WAYNE MONTGOMERY	BOARD DIRECTOR	0.50	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
2024	No data	No data	No data	No data
2023	$35,906,032	$22,745,462	$419,337,525	$13,160,570
2022	$43,360,911	$26,083,854	$410,716,456	$17,277,057
2021	$43,562,374	$22,678,445	$415,855,492	$20,883,929
2020	$30,927,293	$25,650,881	$410,537,726	$5,276,412
2019	$27,200,143	$25,669,071	$429,990,360	$1,531,072
2018	$24,876,663	$18,836,134	$423,084,950	$6,040,529

LCTCS FACILITIES CORPORATION