Candlewood Lake Association Inc
- Assets
- $8.4m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 74
- Location
- Mount Gilead, OH
- Founding
- 04/2007
- Data as of
- 01/2024
- EIN
- 31-0879984
Organization Overview
Candlewood Lake Association Inc is located in Mount Gilead, OH. The organization was established in 2007. 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 01/2024, Candlewood Lake Association Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Candlewood Lake 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 01/2024, Candlewood Lake Association Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $4.5m during the year ending 01/2024. While expenses have increased by 11.9% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
HOMEOWNERS ASSOCIATION COMPRISED OF CANDLEWOOD LAKE MEMBERS CREATED TO OPERATE THE 1,500 ACRE COMMUNITY IN RURAL MORROW COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE RESIDENTS OF CANDLEWOOD LAKE ASSOCIATION, A 1,500 ACRE SELF-SUPPORTING COMMUNITY WITH APPROXIMATELY 1,800 PROPERTY OWNERS.
TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE RESIDENTS OF CANDLEWOOD LAKE ASSOCIATION, A 1,500 ACRE SELF-SUPPORTING COMMUNITY WITH APPROXIMATELY 1,800 PROPERTY OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Brown Vice-Preside | Officer | $0 | |
Ron Carr Board Member | Officer | $0 | |
Janet Heenan Board Member | Officer | $0 | |
Kyle Kanagy Board Member | Officer | $0 | |
Kevin Mccray President | Officer | $0 | |
John Mcfarland Secretary | Officer | $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 | $4,817,480 |
| Investment income | $5,753 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,600 |
| 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 | $13,296 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,858,129 |
| 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 | $1,181,409 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $185,526 |
| Payroll taxes | $100,797 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,177 |
| Fees for services: Accounting | $8,927 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,465,406 |
| Advertising and promotion | $794 |
| Office expenses | $35,434 |
| Information technology | $73,882 |
| Royalties | $0 |
| Occupancy | $182,433 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,032 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $451,924 |
| Insurance | $85,901 |
| All other expenses | $63,862 |
| Total functional expenses | $4,457,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $813,450 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $211,754 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $325,689 |
| Prepaid expenses and deferred charges | $83,708 |
| Net Land, buildings, and equipment | $7,001,158 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,435,759 |
| Accounts payable and accrued expenses | $71,747 |
| Grants payable | $0 |
| Deferred revenue | $99,058 |
| 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 | $492,285 |
| Total liabilities | $663,090 |
| Net assets without donor restrictions | $7,772,669 |
| 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 | $8,435,759 |