CSAC Finance Corporation

EIN: 943010425

Sacramento, CA

Total Revenue
$9,227,739
Total Expenses
$9,363,414
Total Assets
$22,897,338
Net Assets
$22,398,981
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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
CA
Principal Officer
Robert Pierce
Phone
9166508120
Tax Period
2024-07-01 to 2025-06-30

CSAC Finance Corporation, founded in 1986, is a community nonprofit that reported $9.2M in total revenue in fiscal year 2024. Net assets of $22.4M represent 29 months of operating reserves.

Mission

TO PROVIDE A BROAD ARRAY OF FINANCE, INVESTMENT, INSURANCE AND PUBLIC SERVICES TO BENEFIT CALIFORNIA COUNTIES AND RELATED PUBLIC AGENCIES.

Program Service Accomplishments

Program 1
Expenses: $5,725,000

Grants to CSAC Totaled 5,725,000.

Program 2
Expenses: $2,809,897

The Nationwide Retirement Solutions program is the largest deferred compensation program in the country for county employees. In California, over 65,000 county employees save for their retirement...

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The Nationwide Retirement Solutions program is the largest deferred compensation program in the country for county employees. In California, over 65,000 county employees save for their retirement using this flexible, cost-effective employee benefit program. This program is the only one with a national oversight committee consisting of elected and appointed county officials who are plan participants. Additionally, an advisory committee comprised of California county officials provides additional feedback and oversight for this supplemental retirement program. Currently, 34 counties in California have chosen Nationwide to help their employees save for retirement.The Investment Trust of California (CalTRUST) is a JPA established by public agencies in California for the purpose of pooling and investing local agency funds operating reserves as well as bond proceeds. CalTRUST offers the option of five accounts to provide participating agencies with a convenient method of pooling funds a liquidity fund, a government fund, a short-term, and a medium-term, and a new ESG-compliant money market fund. Each account seeks to attain as high a level of current income as is consistent with the preservation of principal. This program is a great option to diversify investments!Public Square Real Estate, Inc. (PSRE) is a corporation formed by CSAC Finance Corporation (CSAC FC) aimed at providing holistic and comprehensive professional real estate services to Californias counties. The unique nature of this corporation and its partnerships ensures counties have access to the highest level of real estate services with a special focus on counties and their needs. This partnership provides unmatched resources and expertise in real estate services dedicated to the business of improving public services for counties and their constituents. PSRE was formed with these guiding principles and a clear focus to ensure that counties have a service option that puts them first by an organization that understands counties and the public interest.Formed by the CSAC Finance Corporation, Easy Smart Pay is a platform built to modernize and simplify the process of paying government. ESP is a complementary bill pay service focused on providing automatic monthly payments to taxpayers for their property tax at the lowest industry rates. In addition to the partnership with the CSAC Finance Corporation, Easy Smart Pay partners with the NACo Financial Services Corporation and the California School Board Association. This program is currently being used in 28 of the 58 California counties and is now available for all counties to onboard.The California Cannabis Authority is a Joint Powers Authority established by county governments to develop and manage a statewide data platform. The platform will assist local governments that are regulating commercial cannabis activity by consolidating data from different channels into one resource to help local governments ensure maximum regulatory and tax compliance. In addition, the platform can help to facilitate financial services to the cannabis industry by linking willing financial institutions with interested businesses, and by providing critical data to ensure that all transactions and deposits are from legal transactions. As counties look at establishing or revising their cannabis licensing and taxing structure, CCA should be among the resources used to ensure a successful and robust regulatory program.CSAC Finance Corporation and Enterprise Mobility have partnered to provide counties and other municipalities remarkably discounted rates for cars, trucks, vans and cargo vehicle rentals. Through this program, Enterprise Mobility also provides automatic damage waivers and liability coverage at no additional cost and all with a zero-volume guarantee, making it more efficient and cost-effective to rent one or multiple vehicles on short and/or long-term bases. Enterprise Mobility is a leading provider of mobility solutions including car rental, fleet management, flexible vehicle hire, carsharing, vanpooling, car sales, truck rental, vehicle subscription, luxury rental, technology solutions and more, to help make travel easier and more convenient.The Personal Lines Insurance Program (PLIP) provided by PRISM offers employees of PRISM members access to practical group savings on everyday insurance coverages. Available to all eligible PRISM members and their employees, council, commissioners, and retirees, there is a solution and savings for many participants. The coverages provided include Automobile, Pet Insurance, Homeowners, Renters, Excess Liability/Umbrella to all the employees (including retirees), Condominium, Scheduled Personal Property, Recreational Vehicles, Watercraft, RV, Rental Properties, and more. Each public entity participating in a PRISM benefit program receives service support from a dedicated program management team.Procure America provides its clients with analytics and strategies that result in greater performance at lower costs. By leveraging decades of industry experience, Procure America generates an average savings of 34%, all while increasing operational efficiency, vendor accountability, and service levels. Procure Americas experts have deep, industry-specific experience and will analyze all aspects of the supplier relationship contractual, operational, and invoice compliance. Knowledge, information and focus deliver results.CSAC FC has partnered with the California School Board Association (CSBA) to bring the GAMUT platform to California counties and other public agencies that allows for virtual meeting minutes record-keeping that conforms with the Brown Act. Agencies are able to use this simple yet robust software for meetings and policies as well as provide immediate public access and translation in more than 100 languages. The platform incorporates the needs of a virtual meeting environment with online voting and remote board access. Agencies can purchase the entire suite or select the module that best suits their governance team's needs.

Program 3
Expenses: $404,404

The California Statewide Communities Development Authority (CSCDA) was created in 1988, under Californias Joint Exercise of Powers Act, to provide Californias local governments with an effective tool...

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The California Statewide Communities Development Authority (CSCDA) was created in 1988, under Californias Joint Exercise of Powers Act, to provide Californias local governments with an effective tool for the timely financing of community-based public benefit projects. Currently, more than 530 cities, counties and special districts have become Program Participants to CSCDA which serves as their conduit issuer and provides access to an efficient mechanism to finance locally-approved projects. To date, CSCDA has issued more than $70 billion in tax exempt bonds helping local governments build community infrastructure, provide affordable housing, create jobs, make access available to quality healthcare and education, and more.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $8,361,834
Investment Income $805,142
Other Revenue $60,763
TOTAL REVENUE $9,227,739

Expense Breakdown

Grants Paid $5,725,000
Salaries & Benefits $2,459,649
Fundraising Expenses $0
Program Expenses $8,939,301
Other Expenses $1,178,765
TOTAL EXPENSES $9,363,414

Year-over-Year Comparison

2024 2023 Change
Revenue $9,227,739 $9,529,610 0.0%
Expenses $9,363,414 $9,145,714 +0.0%
Net Income $-135,675 $383,896 -1.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
8
Volunteers
11

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
2
$975,075
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Alan Fernandes CEO 40.00
Officer
$361,045 $174,914 $535,959
Robert Pierce COO 40.00
Officer
$282,844 $156,272 $439,116
James Manker Dir of Business Dev 40.00
$196,914 $96,775 $293,689
Christy Higgins Dir of Operations 40.00
$148,595 $59,205 $207,800
Stacie Frerichs Dir of Bus Program 40.00
$127,644 $51,830 $179,474
Oscar Villegas President 0.50
Director
$0 $0 $0
Graham Knaus Vice President 0.50
Director
$0 $0 $0
Ryan Alsop Treasurer 0.50
Director
$0 $0 $0
Kathryn Barger BOARD MEMBER 0.50
Director
$0 $0 $0
Vernon Billy BOARD MEMBER 0.50
Director
$0 $0 $0
Edward Hill BOARD MEMBER 0.50
Director
$0 $0 $0
Matt Jennings BOARD MEMBER 0.50
Director
$0 $0 $0
Miguel Marquez BOARD MEMBER 0.50
Director
$0 $0 $0
Susan Muranishi BOARD MEMBER 0.50
Director
$0 $0 $0
William Billy Rutland BOARD MEMBER 0.50
Director
$0 $0 $0
Ed Valenzuela BOARD MEMBER 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
2025 $9,227,739 $9,363,414 $22,897,338 $-135,675
2024 No data No data No data No data
2023 $8,866,567 $8,610,932 $22,730,521 $255,635
2022 $12,934,423 $7,374,063 $22,360,310 $5,560,360
2021 $9,959,379 $6,982,962 $16,799,451 $2,976,417
2020 $6,039,216 $7,056,471 $13,710,747 $-1,017,255
2019 $17,463,395 $7,223,516 $15,276,428 $10,239,879
2018 $7,557,660 $5,832,476 $4,301,956 $1,725,184
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