2024-05-01T16:50:10-04:00 2023-06-30 570846159 CLINE BRANDT KOCHENOWER & CO PA 1225 W FLOYD BAKER BLVD GAFFNEY SC 29341 990 2022-07-01 204822484 SCAGO EDUCATIONAL FACILITIES CORP FOR CHEROKEE SCHOOL DISTRICT SCAG 8037999800 312 WATER MILL ROAD GREER SC 29650 SANDRA ISOM EXEC DIR OF FINANCE 8649023500 2024-04-30 true SANDRA ISOM XXX-XX-XXXX false TIMOTHY S BLAKE CPAPFS P00062473 8644897121 2024-05-01 2022 2023-04-26 12:10:37Z MELISSA CAMPBELL 2759985 false X N/A X 2006 SC THE CORPORATION WAS FORMED FOR EDUCATIONAL AND CHARITABLE PURPOSE, SPECIFICALLY TO UNDERTAKE CERTAIN OBLIGATIONS WITH RESPECT TO THE ACQUISITION OR SALE OF REAL AND/OR PERSONAL PROPERTY IN CONNECTION WITH THE DESIGN, CONSTRUCTION , OPERATION, FINANCING, AND REFINANCING OF EDUCATION FACILITIES TO BE USED BY THE CHEROKEE COUNTY SCHOOL DISTRICT AND SUCH OTHER PROJECTS AND FOR THE BENEFIT OF THE SCHOOL DISTRICT AS MAY BE PERMITTED BY APPLICABLE LAW. 5 5 0 5 0 0 2752575 2747825 148 12160 0 2752723 2759985 0 0 0 0 0 2385399 2419696 2385399 2419696 367324 340289 48619371 46592266 22271177 19903783 26348194 26688483 X THE CORPORATION WAS FORMED FOR EDUCATIONAL AND CHARITABLE PURPOSE, SPECIFICALLY TO UNDERTAKE CERTAIN OBLIGATIONS WITH RESPECT TO THE ACQUISITION OR SALE OF REAL AND/OR PERSONAL PROPERTY IN CONNECTION WITH THE DESIGN, CONSTRUCTION , OPERATION, FINANCING, AND REFINANCING OF EDUCATION FACILITIES TO BE USED BY THE CHEROKEE COUNTY SCHOOL DISTRICT AND SUCH OTHER PROJECTS AND FOR THE BENEFIT OF THE SCHOOL DISTRICT AS MAY BE PERMITTED BY APPLICABLE LAW. false false 2419696 2747825 TO FINANCE, CONSTRUCT AND RENOVATE CHEROKEE COUNTY SCHOOL DISTRICT FACILITIES. 2419696 true false false false false false false false false false false false false true true false false true false false false false false false false false false false false false true false false true false false false false false false false false false false false false true false false false true 0 0 false 0 false false false false false false false false false false false false false false false X 5 5 false false false false true true false true true false false true false false false false false false SC X SANDRA ISOM 8642062224 141 TWIN LAKE ROAD GAFFNEY SC 29341 SHERRI L MORGAN SECRETARY/TR 1.00 40.00 X 0 111628 15706 MELISSA CAMPBELL PRESIDENT 1.00 X X 0 0 0 JOHN K GARDNER DIRECTOR 1.00 X 0 0 0 BROCK HERON VICE-PRESIDE 1.00 X 0 0 0 BRIAN HIGHTOWER DIRECTOR 1.00 X 0 0 0 111628 15706 false false false INSTALLMENT PURCHASE PAYMENTS 531390 2747825 2747825 2747825 12160 12160 2759985 2747825 12160 5500 5500 813886 813886 TRANSFERRED TO CCSD 1509958 1509958 BOND ISSUE COSTS AND FEES 90352 90352 2419696 2419696 0 0 362 955 48619009 46591311 48619371 46592266 18917000 16912000 3354177 2991783 22271177 19903783 X 26348194 26688483 26348194 26688483 48619371 46592266 340289 X false true X true X X X 1 CHEROKEE COUNTY SCHOOL DISTRICT CHEROKEE COUNTY SCHOOL DISTRICT 576001580 6 true 1509958 0 1 1509958 0 true true false false false false false false false false false false false false false true false true X X true true PART IV, SECTION A, LINE 2 THE SUPPORTED ORGANIZATION, CHEROKEE COUNTY SCHOOL DISTRICT, IS A GOVERNMENTAL UNIT AS DESCRIBED IN U.S. CODE SECTION 103 AND 115. PART IV, SECTION D, LINE 2 THE FACILITIES CORP IS GOVERNED AT A MINIMUM BY FIVE BOARD MEMBERS WHO ARE APPOINTED BY THE SOUTH CAROLINA ASSOCIATION OF GOVERNMENTAL ORGANIZATION (SCAGO). THREE OF THE BOARD MEMBERS ARE BOARD MEMBERS OF SCAGO AND THE REMAINING TWO ARE APPOINTED BY THE SCAGO BOARD, WITH THE STIPULATION THAT THE MEMBER MUST BE A RESIDENT OF GEOGRAPHIC AREA OF THE SCHOOL DISTRICT, UNLESS COMPELLING REASONS JUSTIFY AN ALTERNATE APPOINTMENT. PART IV, SECTION D, LINE 3 SEE EXPLANATION OF WORKING RELATIONSHIP PART IV, SECTION E, LINE 1C SCHEDULE A, SECTION D LINE 3, SECTION E LINES 1 & 2 THE CORPORATION IS AN "ON BEHALF OF ISSUER" OF BONDS FOR GOVERNMENTAL PURPOSES FOR THE SUPPORTED ORGANIZATION,CHEROKEE COUNTY SCHOOL DISTRICT. THE ISSUANCE OF THE BONDS, THE CONTINUING ACTIVITIES RELATED TO THE EXPENDITURE OF THE PROCEEDS OF THE BONDS, AND THE PAYMENT OF DEBT SERVICE ON THE BONDS CONSTITUTE THE SOLE ACTIVITIES OF THE CORPORATION. THE RULE OF THE SCHOOL DISTRICT IS TO MAKE INSTALLMENT PAYMENT TO THE CORPORATION TO FUND THE DEBT SERVICE REQUIREMENTS AND TO MAINTAIN REQUIRED BALANCES IN A DEBT SERVICE RESERVE FUND. ALL FUNDING FLOWS THROUGH TRUST ACCOUNTS WHICH WERE ESTABLISED IN CONJUCTION WITH THE ISSUANCE OF THE BONDS. PART IV, SECTION E, LINE 2A SEE EXPLANATION OF WORKING RELATIONSHIP PART IV, SECTION E, LINE 2B SEE EXPLANATION OF WORKING RELATIONSHIP IMPROVEMENTS CONSTRUCTED FOR CCSD 34681745 DUE FROM CCSD- OTHER 18615068 DUE FROM CCSD- DEBT RELATED 16912000 UNAMORTIZED LOSS ON BOND DEFEASANCE 503618 IMPROVEMENTS TRANSFERRED TO CCSD -24121120 46591311 UNAMORTIZED BOND PREMIUM 1470464 DUE TO SCHOOL DISTRICT 1458838 ACCRUED INTEREST PAYABLE 62481 2991783 SCHEDULE D, PAGE 4, PART XIII THE FACILITIES CORPORATION FINANCIAL INFORMATION IS BLENDED WITH THAT OF THE SCHOOL DISTRICT'S BASIC FINANCIAL STATEMENTS BECAUSE THE SCAGO EDUCATION FACILITIES CORPORATION FOR CHEROKEE COUNTY SCHOOL DISTRICT INC. EXCLUSIVELY BENEFITS THE SCHOOL DISTRICT. SEPARATE FINANCIAL STATEMENTS FOR FACILITIES CORPORATION ARE NOT ISSUED. A INST PURCHASE REFBONDSERIES 2015 204822484 2015-05-06 29775000 TO DEFEASE IPRB SERIES 2006 false true false B SCAGO GO BOND DEBTSERIES 2023A 844822484 2023-05-17 377000 CAPITAL CONSTRUCTION false true false A 13240000 33419628 494235 32925393 true false true true B 377000 8178 377000 false false true true A false false false false false false false B false false false false false false false A false false false false false false false false false B false false false false false false false false false A false B false DIFFERENCES IN ISSUE PRICE EXPLANATION INST. PURCHASE REF.BOND,SERIES 2015 NET BID PREMIUM OF 3,644,628 PURPOSE OF ISSUE DESCRIPTION INST. PURCHASE REF.BOND,SERIES 2015 TO DEFEASE IPRB SERIES 2006 PURPOSE OF ISSUE DESCRIPTION SCAGO G.O. BOND DEBT,SERIES 2023A CAPITAL CONSTRUCTION ADDITIONAL INFORMATION INST. PURCHASE REF.BOND,SERIES 2015 SCAGO EDUCATIONAL FACILITIES CORPORATION FOR CHEROKEE COUNTY SCHOOL DISTRICT ADDITIONAL INFORMATION SCAGO G.O. BOND DEBT,SERIES 2023A SCAGO EDUCATIONAL FACILITIES CORPORATION FOR CHEROKEE COUNTY SCHOOL DISTRICT FORM 990 - ORGANIZATION'S MISSION THE CORPORATION WAS FORMED FOR EDUCATIONAL AND CHARITABLE PURPOSE, SPECIFICALLY TO UNDERTAKE CERTAIN OBLIGATIONS WITH RESPECT TO THE ACQUISITION OR SALE OF REAL AND/OR PERSONAL PROPERTY IN CONNECTION WITH THE DESIGN, CONSTRUCTION , OPERATION, FINANCING, AND REFINANCING OF EDUCATION FACILITIES TO BE USED BY THE CHEROKEE COUNTY SCHOOL DISTRICT AND SUCH OTHER PROJECTS AND FOR THE BENEFIT OF THE SCHOOL DISTRICT AS MAY BE PERMITTED BY APPLICABLE LAW. FORM 990, PART VI SECTION A LINE 2 MS. CAMPBELL, MR. GARDNER, AND MR. HERON ARE MEMBERS OF SC ASSOCIATION OF GOVERNMENTAL ORGANIZATIONS (SCAGO) BOARD OF DIRECTORS. THEY ARE MEMBERS OF OTHER SCHOOL DISTRICTS SCAGO BOARD OF DIRECTORS AND MEMBERS OF CERTAIN OTHER SCHOOL FINANCING RELATED ORGANIZATION. FORM 990, PART VI SECTION B LINE 12A THE SOUTH CAROLINA NONPROFIT CORPORATION ACT CONTAINS SECTION 33-31-831 RELATING TO DIRECTOR CONFLICTS OF INTEREST. THE CORPORATION EXPECTS THE MEMBERS OF THE BOARD OF DIRECTORS TO COMPLY WITH THE PROVISIONS OF S.C. CODE SECTION 33-31-831. CONSEQUENTLY, THE CORPORATION IS RELYING ON THE PROVISION OF S.C. CODE SECTION 33-31-831 RATHER THAN ADOPTING A SPECIFIC CONFLICT OF INTEREST POLICY FOR THE CORPORATION. FORM 990, PAGE 6, PART VI, 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, PAGE 6, PART VI, LINE 7A THE MEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY THE BOARD OF DIRECTORS OF SCAGO. FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD OF DIRECTORS ARE PROVIDED WITH A COPY OF THE 990 PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 19 THE FORM 1023 AND FORM 990 ARE AVAILABLE FOR REVIEW UPON REQUEST DURING REGULAR BUSINESS HOURS AT THE CHEROKEE COUNTY SCHOOL DISTRICT OFFICE. CHEROKEE COUNTY SCHOOL DISTRICT 141 TWIN LAKES ROAD GAFFNEY SC 29342 576001580 PUBLIC EDU SC 115 1 6 N/A false SC ASSO OF GOV'T ORGANIZATIONS PO BOX 128 MONCKS CORNER SC 29461 043679331 GOVT FINAN SC 501C3 10 N/A false false false false false false false true false false false false false false false false false false true false CHEROKEE COUNTY SCHOOL DISTRICT G 2747825 COST CHEROKEE COUNTY SCHOOL DISTRICT R 1509958 COST SCHEDULE R PART II 2(B) SCAGO WAS FORMED TO LESSEN THE BURDENS OF ALL SOUTH CAROLINA SCHOOL DISTRICTS IN OBTAINING NECESSARY FINANCING. PART II 1(D) CHEROKEE COUNTY SCHOOL DISTRICT IS A GOVERNMENTAL UNIT AS DESCRIBED IN U.S. CODE SECTION 103 AND 115.