Arizona Capital Facilities Finance Corporation in Phoenix, Arizona (AZ)

Arizona Capital Facilities Finance Corporation
Employer Identification Number (EIN)	861002202
Name of Organization	Arizona Capital Facilities Finance Corporation
Address	Phoenix, AZ 85012
Tax Period	2007
Asset Amount	$-29,241,644
Amount of Income	$27,551,213
Form 990 Revenue Amount	$27,551,213
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Fund Raising and/or Fund Distribution

Non-representatives - add comments:

Amount of income in 2007: $27,551,213

Arizona Capital Facilities Finance Corporation:	$27,551,213
Other organizations performing similar types of work:	$1,625,924

Assets in 2007: $-29,241,644

Arizona Capital Facilities Finance Corporation:	$-29,241,644
Other organizations performing similar types of work:	$5,186,309

Expenses in 2007: $40,774,200

This organization:	$40,774,200
Other organizations performing similar types of work:	$720,340

Income to expenses ratio in 2007: 0.7

This organization:	0.7
Other organizations performing similar types of work:	1.5

Expenses allocated to program services in 2007: 87.9%

This organization:	87.9%
Other organizations performing similar types of work:	85.4%

Grants share in income in 2007: 0.0%

This organization:	0.0%
Other organizations performing similar types of work:	13.0%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

	2002	2004	2005	2006	2007
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$-113,090	$4,381,922	$8,984,178	$21,723,028	$27,551,213
Contributions, gifts, grants, and similar amounts received	$0	$0	$0	$0	$0
Contributions to donor advised funds				$0	$0
Direct public support	$0	$0	$0	$0	$0
Indirect public support	$0	$0	$0	$0	$0
Government contributions (grants)	$0	$0	$0	$0	$0
Program service revenue including government fees and contracts	$1,313,488	$6,604,371	$8,369,062	$20,156,421	$26,334,318
Membership dues and assessments	$0	$0	$0	$0	$0
Interest on savings and temporary cash investments	$206,535	$529,387	$615,116	$1,566,607	$1,216,895
Dividends and interest from securities	$0	$0	$0	$0	$0
Net rental income or (loss)	$0	$0	$0	$0	$0
Gross rents	$0	$0	$0	$0	$0
Less: rental expenses	$0	$0	$0	$0	$0
Other investment income	$0	$-2,751,836	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$-1,633,113	$0	$0	$0	$0
Gross amount from sales of assets other than inventory	$1,030,000	$0	$0	$0	$0
Less: cost or other basis and sales expenses	$2,663,113	$0	$0	$0	$0
Net income or (loss) from special events and activities	$0	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0
Total expenses	$2,109,903	$8,696,649	$11,450,876	$26,913,610	$40,774,200
Program services	$2,093,854	$8,325,899	$10,076,414	$22,868,056	$35,854,729
Management and general	$16,049	$370,750	$1,374,462	$4,045,554	$4,919,471
Fundraising	$0	$0	$0	$0	$0
Payments to affiliates	$0	$0	$0	$0	$0
Net assets or fund balances at end of year	$-2,697,043	$-6,381,217	$-8,628,338	$-14,619,756	$-29,241,644
Excess or (deficit) for the year	$-2,222,993	$-4,314,727	$-2,466,698	$-5,190,582	$-13,222,987
Net assets or fund balances at beginning of year	$-474,050	$-2,066,490	$-6,381,217	$-8,628,338	$-14,619,756
Other changes in net assets or fund balances	$0	$0	$219,577	$-800,836	$-1,398,901

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2007)
Total functional expenses	$40,774,200	$35,854,729	$4,919,471	$0
Grants paid from donor advised funds		$0
Other grants and allocations		$0
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$54,000	$0	$54,000	$0
Compensation of former officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)	$0	$0	$0	$0
Salaries and wages of employees not included above	$0	$0	$0	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$0	$0	$0	$0
Payroll taxes	$0	$0	$0	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$0	$0	$0	$0
Legal fees	$0	$0	$0	$0
Supplies	$0	$0	$0	$0
Telephone	$0	$0	$0	$0
Postage and shipping	$0	$0	$0	$0
Occupancy	$1,676,121	$1,676,121	$0	$0
Equipment rental and maintenance	$0	$0	$0	$0
Printing and publications	$0	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$13,607,384	$13,607,384	$0	$0
Depreciation, depletion, etc.	$9,037,242	$9,037,242	$0	$0
Other expenses not covered above	$16,399,453	$11,533,982	$4,865,471	$0

	2002	2004	2005	2006	2007
Balance Sheets
Total assets	$73,730,499	$182,503,674	$312,888,359	$307,769,137	$308,081,867
Cash - non-interest-bearing	$0	$0	$0	$0	$0
Savings and temporary cash investments	$266,115	$263,655	$224,237	$279,311	$214,799
Accounts receivable less allowance for doubtful accounts	$220,813	$178,543	$311,236	$6,009,439	$5,443,635
Pledges receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0
Grants receivable	$0	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)				$0	$0
Other notes and loans receivable less allowance for doubtful accounts	$1,030,000	$35,922,239	$35,868,188	$47,800,052	$47,486,437
Inventories for sale or use	$0	$0	$0	$0	$0
Prepaid expenses and deferred charges	$90,851	$60,813	$63,234	$63,389	$23,171
Investments - publicly-traded securities				$33,701,561	$29,758,818
Investments - other securities	$30,363,921	$36,532,540	$76,869,798	$1,830,849	$1,830,849
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0	$0
Investments - other	$0	$0	$0	$0	$0
Land, buildings, and equipment less accumulated depreciation	$39,358,623	$106,540,407	$191,966,845	$211,497,516	$218,335,548
Other assets, including program-related investments	$2,400,176	$3,005,477	$7,584,821	$6,587,020	$4,988,610
Total liabilities	$76,427,542	$188,884,891	$321,516,697	$322,388,893	$337,323,511
Accounts payable and accrued expenses	$2,761,102	$28,283,422	$17,995,673	$15,823,083	$33,045,942
Grants payable	$0	$0	$0	$0	$0
Deferred revenue	$666,521	$47,726	$394,382	$5,587,347	$5,655,521
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0	$0
Tax-exempt bond liabilities	$72,880,554	$159,345,860	$302,746,036	$300,699,760	$298,533,672
Mortgages and other notes payable	$0	$0	$0	$0	$0
Other liabilities	$119,365	$1,207,883	$380,606	$278,703	$88,376
Total liabilities and net assets/fund balances	$73,730,499	$182,503,674	$312,888,359	$307,769,137	$308,081,867
Total net assets or fund balances	$-2,697,043	$-6,381,217	$-8,628,338	$-14,619,756	$-29,241,644

	2002	2004	2005	2006	2007
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$-113,090	$4,381,922	$8,984,178	$21,723,028	$27,551,213
Total revenue, gains, and other support per audited financial statements	$1,520,023	$4,381,922	$8,984,178	$21,723,028	$27,551,213
Other expenses	$1,633,113	$0	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0	$0
Other	$1,633,113	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0

	2002	2004	2005	2006	2007
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$2,109,903	$8,696,649	$11,450,876	$26,913,610	$40,774,200
Total expenses and losses per audited financial statements	$3,743,016	$8,696,649	$11,231,359	$27,714,446	$42,173,101
Other revenue	$1,633,113	$0	$-219,517	$800,836	$1,398,901
Donated services and use of facilities	$0	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0	$0
Losses	$0	$0	$0	$800,836	$1,398,901
Other	$1,633,113	$0	$-219,517	$0	$0
Other expenses	$0	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0

Average hours per week devoted to position	Compensation	Contributions to employee benefit plans & deferred compensation plans	Expense account and other allowances
Current Officers, Directors, Trustees, and Key Employees
0	$15,750	$0	$0
0	$22,500	$0	$0
0	$15,750	$0	$0

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	3
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	No
Does the organization have a written conflict of interest policy?	No

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	No
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?	No
Did the organization make only in-house lobbying expenditures of $2,000 or less?	No
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?	No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?	No
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?	No
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?	No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?	No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?	No
Number of employees employed in the pay period that includes March 12, 2006	0

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2007)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$1,216,895	$26,334,318
Program service revenue
Program service revenue 1	000000	$0	00	$0	$266,102
Program service revenue 2	000000	$0	00	$0	$180,825
Program service revenue 3	000000	$0	00	$0	$6,335,482
Program service revenue 4	000000	$0	00	$0	$3,154,410
Program service revenue 5	000000	$0	00	$0	$16,397,499
	000000	$0	00	$0	$266,102
	000000	$0	00	$0	$180,825
	000000	$0	00	$0	$6,335,482
	000000	$0	00	$0	$3,154,410
	000000	$0	00	$0	$1,799,731
	000000	$0	00	$0	$160,834
	000000	$0	00	$0	$120,000
	000000	$0	00	$0	$14,316,934
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$1,216,895	$0
Dividends and interest from securities	000000	$0	00	$0	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	00	$0	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
861002202	100%	$11,182,693	$152,697,243
861002202	100%	$6,379,390	$44,505,882
861002202	100%	$1,817,525	$36,049,369
861002202	100%	$3,331,304	$26,106,500

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year	$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year	$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts	$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year	$0

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is

	2001	2003	2004	2005	2006
Support Schedule
Total	$0	$0	$0	$0	$0
Gifts, grants, and contributions received	$0	$0	$0	$0	$0
Membership fees received	$0	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$0	$0	$0	$0	$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$0	$0	$0	$0	$0
Net income from unrelated business activities not included above	$0	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0	$0
Other income	$0	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Arizona Capital Facilities Finance Corporation	Phoenix, AZ 85012	AZ		$27,551,213
2	Institute For Supply Management Inc	2055 E Centennial Cir, Tempe, AZ 85284-1802	AZ	1983-01	$16,442,027
3	Rural School And Community Trust	4301 Connecticut Ave Nw Ste 100, Washington, DC 20008-2304	DC	1996-01	$5,120,247
4	West Side Day Nursery And Kindergarten	20 W 86th St, New York, NY 10024-3604	NY	1947-04	$549,484
5	American Friends Of Bucerius Law School	440 Park Avenue South 2nd Floor, New York, NY 10016	NY	2007-02	$421,513
6	St Mary Central-Seton Education Endowment Fund Agency 08051997	PO BOX 649, Neenah, WI 54957-0649	WI	1999-10	$417,310
7	Schools For Salone	PO BOX 25314, Seattle, WA 98165-2214	WA	2008-06	$343,503
8	Verlyn E Grahl Foundation Inc	130 S Main St, Fond Du Lac, WI 54935-4210	WI	1999-02	$275,937
9	St Patrick School Foundation Inc, John J Brannen Community Education Foundation Inc	4 W 3rd Street, Maysville, KY 41056	KY	1981-10	$78,106
10	Drew League Foundation	2851 W 120th Street Suite E 517, Hawthorne, CA 90250	CA	2009-01	$68,411
11	Stowe Schools Foundation For Educational Advancement Inc	PO BOX 820, Stowe, VT 05672-0820	VT	1998-01	$46,249
12	Ruckus House Scholarship Foundation Inc	9450 Moss Plantation Rd Nw, Concord, NC 28027	NC	2007-04	$34,016
13	U S Freedom Foundation	1717k St Nw Ste 600, Washington, DC 20036	DC	2003-05	$16,750
14	Battle Creek-Ida Grove School Foundation Inc	500 2nd St, Ida Grove, IA 51445-1305	IA	2001-01	$3,763
15	Achieve 121	224 N Pine St, Lansing, MI 48933-1022	MI	2004-12	$0
16	Aransas Pass Panther Booster Club	PO BOX 1994, Aransas Pass, TX 78335-1994	TX	2000-11	$0
17	Bison Charities	37300 10th Ave, Buffalo Center, IA 50424	IA	1999-09	$0
18	Brainstorm	558 Coventry Ln, West Chester, PA 19382-7588	PA	2001-11	$0
19	Cascade Academy Foundation	1331 Nw Eastman Pkwy, Gresham, OR 97030	OR	2008-09	$0
20	Franklin Regional Varsity Swimming And Diving Booster Club	5611 Summit Court, Export, PA 15632	PA	2009-06	$0

Number of organizations performing similar types of work

Arkansas	1
Arizona	2
California	14
Colorado	3
Connecticut	1
District of Columbia	4
Delaware	1
Florida	3
Georgia	3
Iowa	6
Illinois	4
Indiana	1
Kansas	1
Kentucky	2
Louisiana	2
Massachusetts	3
Maryland	3
Maine	1
Michigan	4
Minnesota	1

Missouri	1
Mississippi	2
North Carolina	4
New Hampshire	1
New Jersey	4
New Mexico	2
Nevada	1
New York	7
Ohio	3
Oregon	2
Pennsylvania	2
Rhode Island	2
South Dakota	1
Tennessee	4
Texas	7
Virginia	2
Vermont	1
Washington	4
Wisconsin	4

Total

114

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