GUAM EDUCATION FINANCING FOUNDATION INC

Address
138 ARCHBISHOP FLORES ST PDB 1008
HAGATNA, GU 96910
Contact
Phone: +1 (404) 504-2772
Nonprofit
NTEE: B11 - Single Organization Support
EIN: 66-0652247

Mission

OPERATE BY HOLDING TITLE TO SCHOOLS TO BE CONSTRUCTED FOR THE BENEFIT OF AND LEASED TO THE GOVERNMENT OF GUAM.
 20162015201420132010
Basic features of the organization
Year of formation2004
Metropolitan statistical area0520
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$87,750.00$121,000.00 $121,750.00 
Sum of reportable (W2/1099) compensation$0.00$0.00 $4,000.00 
Number of employees00 0 
Number of people compensated >$100k00 0 
Number of volunteers00 0 
Number of highly compensated contractors11 1 
Personnel
Alvarez, Michael
TitleSECRETARYSECRETARY SECRETARY 
Name of key/compensated personMICHAEL J ALVAREZMICHAEL J ALVAREZ MICHAEL J ALVAREZ 
Position of compensated person
Current officerTrueTrue True 
Average hours per week working for org3.001.00 1.00 
Reportable compensation from org$0.00$0.00 $0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 $0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 $0.00 
Average hours per week working for related orgs5.005.00   
Doyle, Micahel
Title   DIRECTOR 
Name of key/compensated person   MICAHEL C DOYLE 
Position of compensated person
Average hours per week working for org   1.00 
Reportable compensation from org   $0.00 
Other comp, non-reportable, from org and related orgs   $750.00 
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00 
Doyle, Michael
TitleDIRECTORDIRECTOR   
Name of key/compensated personMICHAEL C DOYLEMICHAEL C DOYLE   
Position of compensated person
Average hours per week working for org3.001.00   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Flores, Phil
TitleDIRECTORDIRECTOR DIRECTOR 
Name of key/compensated personPHIL FLORESPHIL FLORES PHIL FLORES 
Position of compensated person
Average hours per week working for org3.001.00 1.00 
Reportable compensation from org$0.00$0.00 $1,000.00 
Other comp, non-reportable, from org and related orgs$0.00$30,250.00 $0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$1,000.00 $0.00 
Average hours per week working for related orgs1.001.00   
Hand, John
TitlePRESIDENTPRESIDENT PRESIDENT 
Name of key/compensated personJOHN R HANDJOHN R HAND JOHN R HAND 
Position of compensated person
Current officerTrueTrue True 
Average hours per week working for org3.0015.00 15.00 
Reportable compensation from org$0.00$0.00 $1,000.00 
Other comp, non-reportable, from org and related orgs$0.00$30,250.00 $39,800.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$1,000.00 $0.00 
Average hours per week working for related orgs17.005.00   
Inman, Richard
TitleTREASURERTREASURER TREASURER 
Name of key/compensated personRICHARD B INMAN JRRICHARD B INMAN JR RICHARD B INMAN JR 
Position of compensated person
Current officerTrueTrue True 
Average hours per week working for org3.0015.00 15.00 
Reportable compensation from org$0.00$0.00 $1,000.00 
Other comp, non-reportable, from org and related orgs$0.00$30,250.00 $38,200.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$1,000.00 $0.00 
Average hours per week working for related orgs17.005.00   
Wilson, James
TitleVICE PRESIDENTVICE PRESIDENT VICE PRESIDENT 
Name of key/compensated personJAMES R WILSONJAMES R WILSON JAMES R WILSON 
Position of compensated person
Current officerTrueTrue True 
Average hours per week working for org3.0015.00 15.00 
Reportable compensation from org$0.00$0.00 $1,000.00 
Other comp, non-reportable, from org and related orgs$0.00$30,250.00 $39,000.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$1,000.00 $0.00 
Average hours per week working for related orgs17.005.00   
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO HOLD TITLE TO, LEASE AND MAINTAIN SCHOOLS FOR GUAM GOVERNMENT.TO HOLD TITLE TO, LEASE AND MAINTAIN SCHOOLS FOR GUAM GOVERNMENT. TO CONSTRUCT AND HOLD TITLE TO SCHOOLS FOR GUAM GOVERNMENT. 
Program service expenses, total$8,716,236.00$7,926,124.00 $8,868,691.00 
Programs, including revenue & expenses
ADMINISTRATIVE SERVICES PROVIDED FOR THE CREATION OF GUAM EDUCATION FINANCING FOUNDATION II, INC. A 501(C)(4) ORGANIZATION THAT WILL OPERATE FOR THE SOCIAL WELFARE OF THE RESIDENTS OF GUAM BY HOLDING TITLE TO SCHOOLS TO BE CONSTRUCTED FOR THE BENEFIT OF AND LEASED TO THE GOVERNMENT OF GUAM.
Program expenses   $171,135.00 
Program revenue   $171,135.00 
Program description   ADMINISTRATIVE SERVICES PROVIDED FOR THE CREATION OF GUAM EDUCATION FINANCING FOUNDATION II, INC. A 501(C)(4) ORGANIZATION THAT WILL OPERATE FOR THE SOCIAL WELFARE OF THE RESIDENTS OF GUAM BY HOLDING TITLE TO SCHOOLS TO BE CONSTRUCTED FOR THE BENEFIT OF AND LEASED TO THE GOVERNMENT OF GUAM. 
DEVELOP AND MAINTAIN LIGUAN ELEMENTARY SCHOOL, ASTUMBO MIDDLE SCHOOL, OKKODO HIGH SCHOOL AND ADACAO ELEMENTARY SCHOOL.
Program expenses$8,716,236.00$7,926,124.00 $8,697,556.00 
Program revenue$7,100,000.00$7,100,000.00 $7,100,000.00 
Program descriptionDEVELOP AND MAINTAIN LIGUAN ELEMENTARY SCHOOL, ASTUMBO MIDDLE SCHOOL, OKKODO HIGH SCHOOL AND ADACAO ELEMENTARY SCHOOL.DEVELOP AND MAINTAIN LIGUAN ELEMENTARY SCHOOL, ASTUMBO MIDDLE SCHOOL, OKKODO HIGH SCHOOL AND ADACAO ELEMENTARY SCHOOL. DEVELOP AND MAINTAIN LIGUAN ELEMENTARY SCHOOL, ASTUMBO MIDDLE SCHOOL, OKKODO HIGH SCHOOL AND ADACAO ELEMENTARY SCHOOL. 
Financial data
Revenue
Total revenue$7,160,663.00$7,100,833.00 $7,272,176.00 
Revenue from contributions (total) $0.00$0.00$0.00$0.00
Investment income, current yr$11,459.00$833.00 $1,041.00 
Total revenue from grants, etc., current yr$0.00$0.00 $0.00 
Total unrelated business revenue$0.00$0.00 $0.00 
Other revenue, current yr$49,204.00$0.00 $0.00 
Net unrelated business taxable revenue$0.00$0.00 $0.00 
Program service revenue (total)$7,100,000.00$7,100,000.00$5,325,000.00$7,271,135.00$7,100,000.00
Gross receipts$7,160,663.00$7,100,833.00 $7,272,176.00 
Other types of revenue
Miscellaneous revenue (total)$49,204.00    
Income from dividends, interest, and similar investments$11,459.00$833.00 $1,041.00 
Net rental income $0.00$0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$8,966,542.00$8,236,106.00 $9,163,758.00 
Total functional expenses: program service $8,716,236.00$7,926,124.00 $8,868,691.00 
Total functional expenses: management and general$250,306.00$309,982.00 $295,067.00 
Total functional expenses: fundraising$0.00$0.00 $0.00 
Fees for services
Legal fees (total)   $8,632.00 
Fundraising service fees (total)$0.00$0.00 $0.00 
General management fees (total)$117,611.00$149,084.00 $138,605.00 
Assets and liabilities
Total assets$49,156,660.00$59,698,346.00$64,206,193.00$69,903,458.00$87,721,119.00
Total assets, beginning of year$59,698,346.00$64,206,193.00 $75,408,753.00 
Total liabilities$43,198,449.00$51,934,257.00$55,306,831.00$59,883,017.00$69,598,415.00
Total liabilities, beginning of year$51,934,257.00$55,306,831.00 $63,496,730.00 
Unrestricted net assets, end of yr-$849,177.00-$1,020,030.00 -$459,416.00 
Temporarily restricted net assets$6,807,388.00$8,784,119.00 $10,479,857.00 
Net assets$5,958,211.00$7,764,089.00 $10,020,441.00 
Net assets, beginning of year$7,764,089.00$8,899,362.00 $11,912,023.00 
Other liabilities$851,384.00$998,242.00   
Bond liabilities$42,015,746.00$49,668,312.00 $53,239,284.00 
Other assets$838,174.00$1,273,234.00 $1,487,543.00 
Cash: non-interest bearing$26,708.00$383.00 $652.00 
Cash: non-interest bearing, beginning of year$383.00$383.00 $10,800.00 
Other financial variables
Revenue less expenses-$1,805,879.00-$1,135,273.00 -$1,891,582.00 
Savings & temp cash investment$3,793,458.00$9,865,393.00 $11,830,981.00 
Prepaid expenses & deferred charges$17,824.00$17,399.00 $162,859.00 
Accounts payable & accrued expenses$331,319.00$1,267,703.00 $1,318,733.00 
Deferred revenue   $5,325,000.00 
Total net assets or fund balances$5,958,211.00$7,764,089.00 $10,020,441.00 
Depreciation, depletion, amortization$4,598,928.00$4,587,069.00 $5,436,523.00 
Governance and accountability
Number of voting members34 5 
Number of independent voting members22 2 
Financial sheets auditedTrueTrue True 
Relationships among key personnelTrueTrue True 
Accrual accountingTrueTrue True 
Tax year start date2015-10-012014-10-01 2013-01-01 
Tax year end date2016-09-012015-09-012014-09-012013-12-012010-12-01
Indicators for schedules (selected)
Business transaction with entity ownerTrueTrue True 
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990 990 
Date e-filing submitted2017-10-252016-10-19 2014-12-29 
IRS schema version2015v3.02014v6.0 2013v3.0 
Filing identifier201742219349300919201602289349301510 201423219349305682 
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