SAN DIEGO COUNTY CAPITAL ASSET LEA… - 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

1984

Legal Domicile

Principal Officer

Samantha Weisman

Phone

6195315177

Tax Period

2024-07-01 to 2025-06-30

SAN DIEGO COUNTY CAPITAL ASSET LEASING CORPORATION, founded in 1984, is a mid-sized nonprofit that reported $55.4M in total revenue in fiscal year 2024. Revenue fell 72% from the prior year — a significant decline worth monitoring. Expenses of $155.2M exceeded revenue, resulting in a 180% operating deficit.

Mission

San Diego County Capital Asset Leasing Corporation SANCAL is a non-profit benefit corporation supporting the acquisition installation and construction of improvements real property and equipment by the County of San Diego County for public purpose via lease financing arrangements with the County.

Program Service Accomplishments

Program 1

Expenses: $16,934,647 Revenue: $15,402,176

Debt Service: Principal and Interest Payments paid to Bondholders; Principal: $4,575,000; Interest: $12,359,647. Include only revenue from base rental payments annual base rental advance and any...

Debt Service: Principal and Interest Payments paid to Bondholders; Principal: $4,575,000; Interest: $12,359,647. Include only revenue from base rental payments annual base rental advance and any additional advances as it directly funds the P&I expense. Exclude interest revenue as it does not directly fund the P&I payments.

Program 2

Expenses: $425,887 Revenue: $0

Bond Issuance Costs: To cover the expenses related to issuing the 2024 Edgemoor financing. Bond Issuance Cost: $425,887

Program 3

Expenses: $92,860,547 Revenue: $0

CONSTRUCTION EXPENDITURES FROM THE CAPITAL OUTLAY AND SPECIAL REVENUE FUNDS: $92,860,547

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $15,402,176

Investment Income $6,728,200

Other Revenue $33,281,317

TOTAL REVENUE $55,411,693

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $155,188,650

Other Expenses $155,188,650

TOTAL EXPENSES $155,188,650

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,411,693	$198,140,920	-0.7%
Expenses	$155,188,650	$65,067,805	+1.4%
Net Income	$-99,776,957	$133,073,115	-1.7%

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

N/A

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

$1,300

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Michel Anderson	Chair	Director	$0	$0	$300
Jeff C Kane	Vice-Chair	Director	$0	$0	$300
John Todd	Secretary	Director	$0	$0	$300
Shirley Nakawatase	Treasurer	Director	$0	$0	$400

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	$55,411,693	$155,188,650	$300,279,768	$-99,776,957
2024	$198,140,920	$65,067,805	$417,490,445	$133,073,115
2023	$16,519,902	$66,353,960	$137,175,266	$-49,834,058
2022	$77,197,680	$26,552,608	$185,751,662	$50,645,072
2021	$41,735,289	$46,042,016	$104,250,616	$-4,306,727
2020	$41,105,054	$45,814,422	$148,465,426	$-4,709,368

SAN DIEGO COUNTY CAPITAL ASSET LEASING CORPORATION