Shongum Lake Property Owners Assoc is located in Totowa, NJ. The organization was established in 1975. 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 03/2023, Shongum Lake Property Owners Assoc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shongum Lake Property Owners Assoc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2023, Shongum Lake Property Owners Assoc generated $512.4k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $747.2k during the year ending 03/2023. 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
ORGANIZATION MAINTAINS A CLUBHOUSE BEACH AND LAKE FOR USE BY ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
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Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tom Tatem Council Member-President | Trustee | 0 | $0 |
Joe Colucci Council Member-Treasurer | Trustee | 0 | $0 |
Dick Pavely Council Member-Facilities | Trustee | 0 | $0 |
Adam Alexander Council Member-Membership | Trustee | 0 | $0 |
Lori Branigan Council Member- Events | Trustee | 0 | $0 |
Dawn Melody Council Member-Recreation | Trustee | 0 | $0 |
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 | $512,192 |
Investment income | $206 |
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 | $512,398 |
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 | $128,131 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $22,200 |
Fees for services: Legal | $46,803 |
Fees for services: Accounting | $0 |
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 | $4,050 |
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 | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $33,672 |
All other expenses | $121,767 |
Total functional expenses | $747,165 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $380,734 |
Savings and temporary cash investments | $132,712 |
Pledges and grants receivable | $0 |
Accounts receivable, net | -$259,089 |
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 | $332,412 |
Investments—publicly traded securities | $3,457 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $590,226 |
Accounts payable and accrued expenses | $27,991 |
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 | $267,122 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $295,113 |
Net assets without donor restrictions | $295,113 |
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 | $0 |
Total liabilities and net assets/fund balances | $590,226 |