Fort Worth Magnolia Green Association Inc
- Assets
- $25.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 09/2010
- Data as of
- 12/2022
- EIN
- 26-1083914
Organization Overview
Fort Worth Magnolia Green Association Inc is located in Fort Worth, TX. The organization was established in 2010. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth Magnolia Green 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 12/2022, Fort Worth Magnolia Green Association Inc generated $65.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $71.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE ASSOCIATION IS A MEMBERSHIP ORGANIZATION THAT WAS FORMED BY THE DEVELOPER OF MAGNOLIA GREEN, A MIXED USE DEVELOPMENT, AND IS OPERATED TO ADMINISTER AND ENFORCE COVENANTS FOR PRESERVING THE ARCHITECTURE AND APPEARANCE OF THE DEVELOPMENT, AND TO MAINTAIN COMMON GREEN AREAS, STREETS, AND SIDEWALKS ("COMMON AREAS") FOR THE USE OF ALL DEVELOPMENT OCCUPANTS AND MEMBERS OF THE GENERAL PUBLIC WHO USE SUCH COMMON AREAS. THE ASSOCIATION IS SUPPORTED BY ANNUAL MEMBER ASSESSMENTS. ITS ACTIVITIES ARE FOR THE COMMON BENEFIT OF THE WHOLE DEVELOPMENT RATHER THAN FOR INDIVIDUAL PROPERTY OWNERS OR THE DEVELOPER.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack A Clark President/director | 1 | $0 | |
Grant Summers Vice President/director | 1 | $0 | |
Mike Brennan Secretary | 1 | $0 | |
Ronnie Woolbright Treasurer | 1 | $0 | |
Paul Coulter Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $64,637 |
| Investment income | $6 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,000 |
| Total Revenue | $65,643 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $180 |
| Professional fees and other payments to independent contractors | $7,732 |
| Occupancy, rent, utilities, and maintenance | $24,736 |
| Printing, publications, postage, and shipping | $26 |
| Other expenses | $39,078 |
| Total expenses | $71,752 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $25,275 |
| Other assets | $0 |
| Total assets | $25,470 |
| Total liabilities | $874 |
| Net assets or fund balances | $24,596 |
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