Lakeridge Community Association
- Assets
- $129.1k
- Revenue
- $204.5k
- Investments
- $0.0
- Employees
- 17
- Location
- Matawan, NJ
- Founding
- 01/1967
- Data as of
- 02/2023
- EIN
- 11-2112782
Organization Overview
Lakeridge Community Association is located in Matawan, NJ. The organization was established in 1967. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 02/2023, Lakeridge Community Association employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeridge Community Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 02/2023, Lakeridge Community Association generated $204.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $252.8k during the year ending 02/2023. While expenses have increased by 12.8% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY HAS 315 HOMES IN THE COMMUNITY. WE SUPPORT THE COMMON AREAS INCLUDING A POOL, PLAYGROUND, TENNIS COURTS, AND BASKETBALL COURTS. WE PROVIDE COMMUNITY EVENTS AND SWIM TEAM ACTIVITIES FOR EVERYONE TO ENJOY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING COMMUNITY EVENTS AND SWIM TEAM ACTIVITIES FOR EVERYONE TO ENJOY. POOL CLUB, TENNIS COURTS, BASKETBALL COURTS AND PLAYGROUND, BI-ANNUAL NEWSLETTER AND WEBSITE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Donnelly Pool Manager | 25 | $10,650 | |
Erik Depalma Trustee | Trustee | 2 | $0 |
Diane Cahill Treasurer | OfficerTrustee | 5 | $0 |
Davida Demonte Trustee | Trustee | 1 | $0 |
Patrick Hopkins Trustee | Trustee | 1 | $0 |
Daniel Mcgarry Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $188,067 |
| 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 | $188,067 |
| Total Program Service Revenue | $0 |
| Investment income | $235 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $2,457 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $204,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,241 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,171 |
| Advertising and promotion | $0 |
| Office expenses | $1,520 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $30 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $23,568 |
| All other expenses | $12,436 |
| Total functional expenses | $252,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $129,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $129,096 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,277 |
| Total liabilities | $1,277 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $127,819 |
| Total liabilities and net assets/fund balances | $129,096 |