Summer Lakes Homeowners Association Inc
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 09/2013
- Data as of
- 12/2021
- EIN
- 20-2772376
Organization Overview
Summer Lakes Homeowners Association Inc is located in Houston, TX. The organization was established in 2013. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summer Lakes Homeowners Association 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 12/2021, Summer Lakes Homeowners Association Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $931.9k during the year ending 12/2021. While expenses have increased by 1.4% per year over the past 4 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION FORMED TO PROMOTE THE COMMON GOOD AND WELFARE OF THE RESIDENTS AND PUBLIC IN THE COMMUNITY BY MAINTAINING AND HAVE MANAGEMENT OF THE ASSOCIATION AND ITS SERVICES; TO BENEFIT THE MEMBERS AND THE GENERAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE GENERAL WELFARE AND BENEFIT OF THE ENTIRE COMMUNITY BY MAINTAINING THE LANDSCAPING, COMMON AREA REPAIRS, LAKE REPAIRS, WATER EXPENSE, OPERATING THE SWIM FACILITIES,UTILITIES, PEST CONTROL, RESERVE ALLOCATIONS, COMMUNICATIONS, WINTER STORM EXPENSES, AND PROVIDING IRRIGATION FOR THE BEAUTIFICATION OF THE PROPERTY.
ORGANIZATION FORMED TO PROMOTE THE COMMON GOOD AND WELFARE OF THE RESIDENTS AND PUBLIC IN THE COMMUNITY BY MAINTAINING AND HAVE MANAGEMENT OF THE ASSOCIATION AND ITS SERVICES INCLUDING INSURANCE, PAYROLL PROCESSING, ARCHITECT REVIEW COMMITTEE, PROPERTY TAXES, WEBSITE, TO BENEFIT THE MEMBERS AND THE GENERAL COMMUNITY.
TO PROVIDE OTHER EXPENSES SUCH AS ADMINISTRATIVE, HOLIDAY DECORATIONS, COMMUNITY EVENTS, FOR THE BENEFIT OF THE PROPERTY AND THE GREATER COMMUNITY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcella Moses Treasurer | OfficerTrustee | 2 | $0 |
Chris Martin Director | Trustee | 2 | $0 |
Marvin Mcneely Director | Trustee | 2 | $0 |
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 | $1,019,873 |
| Investment income | $354 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,130,823 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $52,285 |
| Fees for services: Legal | $3,803 |
| Fees for services: Accounting | $1,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,023 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,682 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,720 |
| All other expenses | $217,236 |
| Total functional expenses | $931,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $850,240 |
| Savings and temporary cash investments | $125,800 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $237,690 |
| 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 | $280 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $525 |
| Total assets | $1,214,535 |
| Accounts payable and accrued expenses | $40,768 |
| 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 | $302,620 |
| Total liabilities | $343,388 |
| 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 | $871,147 |
| Total liabilities and net assets/fund balances | $1,214,535 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bella Vista Village Property Owners Association Bella Vista, AR | $65,598,574 | $31,138,285 |
Sienna Plantation Residential Association Inc Missouri City, TX | $10,383,877 | $12,546,129 |
Riverstone Homeowners Association Sugar Land, TX | $13,624,654 | $10,362,620 |
Woodforest Owners Association Inc Houston, TX | $5,341,273 | $9,874,039 |
Cinco Residential Property Assn Inc Katy, TX | $14,599,829 | $10,954,529 |
Stonebridge Ranch Community Association Inc Dallas, TX | $11,315,034 | $8,717,166 |
Towne Lake Community Association Inc Cypress, TX | $4,256,681 | $7,685,021 |
Walden On Lake Conroe Community Improvement Asso Montgomery, TX | $5,919,000 | $7,405,584 |
Aliana Homeowners Association Inc Pipe Creek, TX | $4,933,191 | $6,737,042 |
Steiner Ranch Master Association Inc Austin, TX | $3,672,449 | $4,302,724 |
Canyon Falls Master Community Inc Dallas, TX | $5,159,893 | $4,744,849 |
Castle Hills Master Association Inc Lewisville, TX | $4,067,423 | $4,896,405 |