Marineland Community Association Inc
- Assets
- $12.9m
- Revenue
- $677.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Hermosa Beach, CA
- Founding
- 03/2009
- Data as of
- 12/2023
- EIN
- 45-0567263
Organization Overview
Marineland Community Association Inc is located in Hermosa Beach, CA. The organization was established in 2009. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marineland Community Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Marineland Community Association Inc generated $677.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $523.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 8 years. 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
ACT AS A MANAGEMENT BODY FOR THE PRESERVATION, MAINTENANCE, AND ARCHITECTURAL CONTROL OF THE MOBILE HOME LOTS AND COMMON AREA WITHIN THE PROJECT LOCATED AT 531 PIER AVENUE, HERMOSA BEACH , CA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED PROPERTY AT 531 PIER AVENUE, HERMOSA BEACH, CA WHICH CONSISTS OF 60 LOTS. 57 OF THESE LOTS ARE OWNED BY MEMBERS, 1 LOT IS OWNED BY THE ORGANIZATION, AND THE OTHER 2 LOTS ARE RENTED BY NONMEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Howatt Vice President | OfficerTrustee | 2 | $0 |
Jeanne Vetter Secretary | OfficerTrustee | 2 | $0 |
Mike Palmer Treasurer | OfficerTrustee | 2 | $0 |
Morgan Sterling Director | Trustee | 2 | $0 |
Corinne Ybarra President | OfficerTrustee | 2 | $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 | $567,239 |
| Investment income | $17,901 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,150 |
| 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 | $677,820 |
| 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 | $44,243 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,847 |
| Fees for services: Management | $56,912 |
| Fees for services: Legal | $24,138 |
| Fees for services: Accounting | $27,105 |
| 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 | $14,951 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $133 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $138,990 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,956 |
| Insurance | $18,981 |
| All other expenses | $8,703 |
| Total functional expenses | $523,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,339 |
| Savings and temporary cash investments | $864,240 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,899 |
| Loans from Officers, Directors, or Controlling Persons | $335,488 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,203,015 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,718 |
| Net Land, buildings, and equipment | $7,935,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $147,385 |
| Total assets | $12,940,947 |
| Accounts payable and accrued expenses | $6,177 |
| 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 | $3,424,327 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,903 |
| Total liabilities | $3,441,407 |
| Net assets without donor restrictions | $9,499,540 |
| 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 | $12,940,947 |