Lake Holiday Property Owners Association Inc
- Assets
- $7.0m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 33
- Location
- Somonauk, IL
- Founding
- 02/1973
- Data as of
- 12/2022
- EIN
- 36-2645915
Organization Overview
Lake Holiday Property Owners Association Inc is located in Somonauk, IL. The organization was established in 1973. 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 12/2022, Lake Holiday Property Owners Association Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Holiday Property Owners 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, Lake Holiday Property Owners Association Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 1.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO GOVERN THE AFFAIRS OF THE ASSOCIATION IN ACCORDANCE WITH ITS RESTRICTIVE COVENANTS, BY-LAWS, AND RULES AND REGULATIONS, SO AS TO PROTECT AND ENHANCE THE COMMUNITY QUALITY OF LIFE AND PROPERTY VALUES OF COMMON ASSOCIATION ASSETS. THE ASSOCIATION MUST DEAL FAIRLY WITH THEIR STAFF AT ALL TIMES AS THEY ARE INVALUABLE IN MAINTAINING EFFECTIVE DAY TO DAY OPERATIONS. THEY WILL RECOGNIZE, ENCOURAGE, AND VALUE THEIR CLUBS, COMMITTEES, AND VOLUNTEERS FOR THEIR NUMEROUS BENEFITS AND CONTRIBUTIONS TO THE ASSOCIATION. THE ASSOCIATION WILL STRIVE TO BE OPEN AND INFORMATIVE WITH THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE AND MAINTAIN COMMON AREAS. ALSO, TO PROVIDE SECURITY, REFUSE DISPOSAL AND OTHER SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Jon Bouxsein General Manager | Officer | 40 | $115,843 |
Raymond Conley Treasurer | OfficerTrustee | 0.5 | $770 |
Debra Gerdes Vice President | OfficerTrustee | 0.5 | $805 |
Ahren Lehner Secretary | OfficerTrustee | 0.5 | $490 |
Jeff Marco President | OfficerTrustee | 0.5 | $805 |
Byran Needham Director | Trustee | 0.5 | $35 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Superior Seawalls Maintenance | 12/30/20 | $451,781 |
Groot Industries Inc Waste Management | 12/30/20 | $377,778 |
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 | $2,119,025 |
| Investment income | $9,185 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,400 |
| Net Gain/Loss on Asset Sales | -$39 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,209,514 |
| 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. | $120,164 |
| Compensation of current officers, directors, key employees. | $120,164 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $608,862 |
| Pension plan accruals and contributions | $6,712 |
| Other employee benefits | $972 |
| Payroll taxes | $65,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,853 |
| Fees for services: Accounting | $18,724 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,562 |
| Advertising and promotion | $0 |
| Office expenses | $60,465 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $426,876 |
| Travel | $5,955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,730 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,054 |
| Insurance | $169,121 |
| All other expenses | $55,677 |
| Total functional expenses | $2,104,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,951,632 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,500 |
| 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 | $26,142 |
| Net Land, buildings, and equipment | $3,332,988 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $659,987 |
| Total assets | $7,038,249 |
| Accounts payable and accrued expenses | $62,827 |
| Grants payable | $0 |
| Deferred revenue | $159,589 |
| 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 | $86,214 |
| Total liabilities | $308,630 |
| Net assets without donor restrictions | $3,933,470 |
| Net assets with donor restrictions | $2,796,149 |
| 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 | $7,038,249 |