Fayson Lakes Association
- Assets
- $1.2m
- Revenue
- $529.5k
- Investments
- $0.0
- Employees
- 38
- Location
- Kinnelon, NJ
- Founding
- 05/1975
- Data as of
- 02/2022
- EIN
- 22-1468840
Organization Overview
Fayson Lakes Association is located in Kinnelon, NJ. The organization was established in 1975. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. As of 02/2022, Fayson Lakes Association employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fayson Lakes Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 02/2022, Fayson Lakes Association generated $529.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $403.5k during the year ending 02/2022. While expenses have increased by 3.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE WATER AND BEACH RECREATION TO LAKESIDE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER AND BEACH RECREATION TO THE LAKESIDE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Luisi Business Manager | 20 | $24,000 | |
John Woodruff Maintenance | 1 | $2,640 | |
Stephen Marchiano President | OfficerTrustee | 0 | $0 |
Laurence Gander Vice President | OfficerTrustee | 0 | $0 |
Melissa Kent Secretary | OfficerTrustee | 0 | $0 |
Robert Galluscio Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $390,382 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,946 |
| All other contributions, gifts, grants, and similar amounts not included above | $62,999 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $529,327 |
| Total Program Service Revenue | $0 |
| Investment income | $141 |
| 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 | $529,468 |
| 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. | $26,640 |
| Compensation of current officers, directors, key employees. | $26,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,887 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,242 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $778 |
| Advertising and promotion | $0 |
| Office expenses | $4,600 |
| 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 | $15,114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,920 |
| Insurance | $60,753 |
| All other expenses | $37,195 |
| Total functional expenses | $403,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,984 |
| Savings and temporary cash investments | $219,657 |
| 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 | $961,757 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,203,398 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $4,918 |
| 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 | $569,654 |
| Other liabilities | $4 |
| Total liabilities | $574,576 |
| 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 | $628,822 |
| Total liabilities and net assets/fund balances | $1,203,398 |
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