2025-02-19T07:53:49-06:00 2024-06-30 570925346 HALLIDAY SCHWARTZ & CO 824 EAST MAIN STREET SPARTANBURG SC 29302 990 2023-07-01 711005510 SCAGO EDUCATIONAL FACILITIES CORPORATION FOR SPARTANBURG COUNTY SCHOOL DISTRICT 3 SCAG 8642796000 3535 CLIFTON GLENDALE RD SPARTANBURG SC 29307 JAMES G MACK SECRETARY/TRESURER 8642796000 2025-02-11 1 0 ANDREW P DOBSON P01394647 8645830886 2023 2025-03-06 01:10:19Z X JAMES G MACK 3535 CLIFTON GLENDALE ROAD GLENDALE SC 29346 1125952 0 X N/A X 2006 SC SCAGO EDUCATIONAL FACILITIES CORPORATION FOR SPARTANBURG COUNTY SCHOOL DISTRICT NO. 3 WAS INCORPORATED IN 2006 FOR EDUCATIONAL AND CHARITABLE PURPOSES. 3 2 0 0 0 0 0 0 303733 261515 4798 10466 0 0 308531 271981 0 0 0 0 0 0 0 0 0 308531 271981 308531 271981 0 0 7815000 6956600 7815000 6956600 0 0 SCAGO EDUCATIONAL FACILITITES CORPORATION FOR SPARTANBURG COUNTY SCHOOL DISTRICT NO. 3 WAS INCORPORATED 2006 FOR EDUCATIONAL AND CHARITABLE PURPOSES. 0 0 271981 271981 TO ACQUIRE, CONSTRUCT, FINANCE, PLEDGE, IMPROVE, MAINTAIN, OPERATE, MANAGE, LEASE, AND DISPOSE OF SCHOOL BUILDINGS AND OTHER PUBLIC EDUCATION FACILITIES FOR THE USE AND BENEFIT OF THE SCHOOL DISTRICT AND TO ENCOURAGE AND PROMOTE PUBLIC EDUCATION THROUGH COOPERATIVE ARRANGEMENTS WITH GOVERNMENTAL ENTITIES AND ORGANIZATIONS EXEMPT UNDER SECTION 501(C)(3) THAT PROVIDE PUBLIC EDUCATION IN THE SCHOOL DISTRICT. N/A N/A 271981 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 1 1 0 1 1 0 0 1 0 0 0 0 0 0 X JAMES G MACK 8642796000 3535 CLIFTON GLENDALE ROAD SPARTANBURG SC 29307 JAMES G MACK SECRETARY/TREASURER 1.00 60.00 X X 0 153900 0 MELISSA CAMPBELL PRESIDENT 1.00 0.00 X X 0 0 0 J BROCK HERON VICE PRESIDENT 1.00 0.00 X X 0 0 0 DONNIE WILSON DIRECTOR 1.00 0.00 X 0 0 0 DR JULIE FOWLER DIRECTOR 1.00 40.00 X 0 243660 0 0 397560 0 0 0 1 0 0 PROGRAM SERVICE REVENU 531390 261515 261515 261515 10466 10466 853971 853971 0 0 271981 271981 0 0 266981 266981 BOND ISSUANCE FEES 5000 5000 271981 271981 0 0 25584 21041 7789416 6935559 7815000 6956600 11600 7815000 6945000 7815000 6956600 X 0 0 7815000 6956600 0 0 X 0 0 0 X X X 1 SPARTANBURG COUNTY SCHOOL DISTRICT 3 570759273 2 1 853971 0 1 853971 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 X X 1 0 PART IV, SECTION E, LINE 1C: HOW SUPPORTED GOVERNMENT ENTITY - SCAGO EDUCATIONAL FACILITIES CORPORATION FOR SPARTANBURG COUNTY SCHOOL DISTRICT NO. 3 (THE EFC) WAS INCORPORTED IN 2006 FOR EDUCATIONAL AND CHARITABLE PURPOSES, SPECIFICALLY TO (1) ACQUIRE, FINANCE, PLEDGE, IMPROVE, MAINTAIN, OPERATE, MANAGE, LEASE, AND DISPOSE OF SCHOOL BUILDING AND OTHER PUBLIC EDUCATION FACILITIES FOR THE USE AND BENEFIT OF THE SCHOOL DISTRICT AND TO (2) ENCOURAGE AND PROMOTE PUBLIC EDUCATION THROUGH COOPERATIVE ARRANGEMENTS WITH GOVERNMENTAL ENTITIES AND ORGANIZATIONS EXEMPT UNDER SECTION 501(C)(3) THAT PROVIDE PUBLIC EDUCATION IN THE SCHOOL DISTRICT. UPON DISSOLUTION, THE REMAINING ASSETS OF EFC WILL BE DISTRIBUTED TO THE SCHOOL DISTRICT. PART IV, SECTION E, LINE 2A: EXPLANATION FOR SUPPORTED ORGANIZATIONS - IN 2007, THE BOARD OF TRUSTEES APPROVED A LIST OF APPROXIMATELY $18,185,000 IN CAPITAL NEEDS, THE RESULTS OF A PRIORITIZATION PROCESS OF THE SCHOOL DISTRICT'S NEEDS. AFTER CAREFUL STUDY OF FUNDING ALTERNATIVES, THE BOARD AUTHORIZED FORMATION OF THE EFC, A NON-PROFIT CORPORATION WHICH ASSISTED THE SCHOOL DISTRICT IN THE FORMULATION OF AN INSTALLMENT PURCHASE PLAN, WHEREBY THE SCHOOL DISTRICT HAS LEASED THE APPLICABLE BUILDINGS TO THE EFC FOR THE PURPOSE OF CAPITAL IMPROVEMENTS, AND IS IN THE PROCESS OF PURCHASING THEM BACK UTILIZING GENERAL OBLIGATION DEBT OVER A 24 YEAR PERIOD, ALLOWING THE SCHOOL DISTRICT TO LEVERAGE ITS CONSTITUTIONAL DEBT LIMIT TO COMPLETE THE CAPITAL NEEDS WITHIN A SHORT-TERM CONSTRUCTION CYCLE VERSUS THE MORE PIECEMEAL APPROACH OF PAY AS YOU GO. THE EFC CONSISTS OF TWO FUNDS: THE DEBT SERVICE - EFC FUND - AN UNBUDGETED FUND, IS USED TO ACCOUNT FOR ACCUMULATION OF RESOURCES FOR, AND PAYMENT OF, ALL LONG-TERM DEBT PRINCIPAL, INTEREST, AND RELATED COSTS FOR EFC. THE CAPITAL PROJECT - EFC FUND - AN UNBUDGETED FUND, IS USED TO ACCOUNT FOR FINANCIAL RESOURCES TO BE USED FOR SITE ACQUISTIONS, CONSTRUCTION, EQUIPMENT, AND RENOVATION OF ALL MAJOR CAPITAL FACILITIES FOR EFC. LONG TERM OBLIGATION ISSUED: ORIGINAL ISSUE OF $13,595,000, PRINCIPAL DUE IN ANNUAL INSTALLMENT OF $565,000 TO $1,105,000 AT DECEMBER 1; INTEREST OF 2.0% TO 5% PAID SEMIANNUALLY, WITH A FINAL MATURITY DATE IN DECEMBER 2030. THESE BONDS WERE ISSUED TO DEFEASE THE 2006 IPRB BONDS OUTSTANDING. THE SCHOOL DISTRICT PLACED THE NEW PROCEEDS OF APPROXIMATELY $15,057,000 INTO AN IRREVOCABLE TRUST WHICH WAS USED TO REDEEM $14,445,000 OF THE OUTSTANDING BALANCE ON THE SERIES 2006 IPRB ON OCTOBER 1, 2016. THIS REFUNDING WAS UNDERTAKEN TO REDUCE TOTAL DEBT SERVICE PAYMENTS BY AN ESTIMATED $747,000 AND RESULTED IN AN ECONOMIC GAIN OF APPROXIMATELY $806,000. 0 BUILDINGS 16783428 ASSETS SOLD TO DISTRICT -9847869 6935559 0 0 0 0 0 0 0 0 0 DR JULIE FOWLER DIRECTOR 0 243660 0 0 0 0 0 0 0 0 0 243660 0 0 JAMES G MACK SECRETARY/TREASURER 0 153900 0 0 0 0 0 0 0 0 0 153900 0 0 A SCAGO EDUCATIONAL FACILITIES CORPORATION 760845410 2006-08-15 18185000 SCAGO INSTALLMENT PURCHASE REVENUE REFUNDING BOND 1 1 0 B SCAGO EDUCATIONAL FACILITIES CORPORATION 760845410 2015-06-11 13595000 SCAGO INSTALLMENT PURCHASE REVENUE REFUNDING BOND 0 1 0 A 14445000 0 0 0 0 B 13595000 13595000 422488 0 1 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 FORM 990, PART VI, SECTION A, LINE 6 THE SC ASSOCIATION OF GOVERNMENTAL ORGANIZATIONS (AN ORGANIZATION EXEMPT UNDER SECTION 501C3 OF THE INTERNAL REVENUE SERVICE CODE OF 1986, AS AMENDED, (SCAGO) IS THE SOLE MEMBER OF THE CORPORATION. SCAGO'S EXEMPT PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENTAL UNITS IN SOUTH CAROLINA BY ASSISTING SUCH GOVERNMENTAL UNITS IN OBTAINING NECESSARY FINANCING. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS AND THEIR RIGHTS - THE EFC HAS FIVE BOARD MEMBERS THREE OF WHICH ARE APPOINTED BY THE BOARD OF DIRECTORS OF SCAGO, THE DISTRICT SUPERINTENDENT AND THE DISTRICT CFO. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 - THE FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION - NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. SPARTANBURG COUNTY SCHOOL DISTRICT NO 3 3535 CLIFTON GLENDALE ROAD SPARTANBURG SC 29307 570759273 GOVERNMENT SC GOVERNMENT 0 SOUTH CAROLINA ASSOCIATION OF GOVERNMENTAL ORGANIZATIONS PO BOX 128 MONKS CORNER SC 29461 043679311 TO LESSEN BURDENS OF GOVERNMENTAL ENTITIES IN SOUTH CAROLINA SC 501(C)3 LINE 9 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 SPARTANBURG COUNTY SCHOOL DISTRICT NO 3 G 853971 FMV