Lake Arrowhead Community Inc
- Assets
- $3.7m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 23
- Location
- North Waterboro, ME
- Founding
- 06/1997
- Data as of
- 04/2024
- EIN
- 01-0341134
Organization Overview
Lake Arrowhead Community Inc is located in North Waterboro, ME. The organization was established in 1997. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 04/2024, Lake Arrowhead Community Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Arrowhead Community Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 04/2024, Lake Arrowhead Community Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.9m during the year ending 04/2024. While expenses have increased by 2.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
A HOMEOWNERS' ASSOCIATION THAT PROVIDES MAINTENANCE TO THE MEMBERS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY PROVIDES RECREATIONAL AND SOCIAL ACTIVITIES, ADMINISTERS COMMON SERVICES, AND MAINTAINS COMMON FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Berger Rob Trustee | Trustee | 1 | $0 |
Berry Mark Trustee | Trustee | 1 | $0 |
Exley Megann Trustee | Trustee | 1 | $0 |
Fitzpatrick Michael Trustee / President | OfficerTrustee | 1 | $0 |
Fowler George Trustee / Treasurer | OfficerTrustee | 1 | $0 |
Martel Alan Trustee / Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dead River Company Fuel Distribution & Services | 4/29/23 | $140,210 |
Maher Services Inc Well Drilling Services | 4/29/23 | $123,987 |
Harvard Pilgrim Healthcare Health Insurance Provider | 4/29/23 | $108,816 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,227,579 |
| Investment income | $15,532 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,268,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,828 |
| Compensation of current officers, directors, key employees. | $82,828 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $510,045 |
| Pension plan accruals and contributions | $17,375 |
| Other employee benefits | $80,587 |
| Payroll taxes | $52,716 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,661 |
| Fees for services: Accounting | $20,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $573 |
| Office expenses | $82,629 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $184,752 |
| Travel | $1,826 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,707 |
| Interest | $9,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $386,214 |
| Insurance | $126,134 |
| All other expenses | $0 |
| Total functional expenses | $1,932,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $102,154 |
| Savings and temporary cash investments | $931,286 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $108,336 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,523 |
| Prepaid expenses and deferred charges | $10,478 |
| Net Land, buildings, and equipment | $2,447,126 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,671,903 |
| Accounts payable and accrued expenses | $26,738 |
| Grants payable | $0 |
| Deferred revenue | $212,713 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $200,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $440,433 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,186,700 |
| Retained earnings, endowment, accumulated income, or other funds | $2,044,770 |
| Total liabilities and net assets/fund balances | $3,671,903 |