Montgomery Village Foundation Inc
- Assets
- $27.2m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 257
- Location
- montgomery village, MD
- Founding
- 11/1968
- Data as of
- 12/2023
- EIN
- 52-0857236
Organization Overview
Montgomery Village Foundation Inc is located in montgomery village, MD. The organization was established in 1968. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Montgomery Village Foundation Inc employed 257 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery Village Foundation 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 12/2023, Montgomery Village Foundation Inc generated $11.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $8.5m during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MONTGOMERY VILLAGE FOUNDATION, INC. (THE FOUNDATION), A NON-PROFIT MEMBERSHIP CORPORATION, WAS FORMED FOR THE PRESERVATION, PROTECTION, AND ENHANCEMENT OF THE VALUES AND AMENITIES IN MONTGOMERY VILLAGE, A PLANNED COMMUNITY. THE FOUNDATION HAS BEEN DELEGATED AND ASSIGNED THE POWERS OF OWNING, MAINTAINING, AND ADMINISTERING THE COMMON PROPERTIES AND FACILITIES, ADMINISTERING AND ENFORCING THE COVENANTS AND RESTRICTIONS, AND COLLECTING AND DISBURSING THE ASSESSMENTS AND CHARGES CREATED BY COVENANTS. MEMBERSHIP IN THE FOUNDATION IS AUTOMATIC WITH THE PURCHASE OF A DWELLINGUNIT IN MONTGOMERY VILLAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DESIGNATED USER FACILITIES FUND - PROVIDES FOR THE OPERATION AND MAINTENANCE OF THE COMMUNITY CENTERS, POOLS, AND TENNIS COURTS OWNED BY THE FOUNDATION. ASSESSMENTS ARE LEVIED ONLY ON MEMBERS WHO ARE DESIGNATED TO USE THE FACILITIES.
MONTGOMERY VILLAGE FOUNDATION FUND - PROVIDES FOR THE GENERAL GOVERNANCE, OPERATION, AND MAINTENANCE OF COMMON PROPERTIES (PARKS AND LAKES), ARCHITECTURAL STANDARDS, AND COMMUNICATIONS. ASSESSMENTS ARE LEVIED ON ALL MEMBERS OF THE FOUNDATION TO SUPPORT THIS FUNCTION.
COMMUNITY MANAGEMENT FUND - PROVIDES MANAGEMENT SERVICES, AT COST, TO THE HOMES CORPORATIONS AND CONDOMINIUM ASSOCIATIONS WITHIN MONTGOMERY VILLAGE THAT CONTRACT FOR THE SERVICE. REVENUE IS GENERATED FROM THE USERS OF THIS FUNCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Conroy Executive VP | Officer | 40 | $161,447 |
Christopher Hitchens Corp. Secretary | Officer | 40 | $160,645 |
Karen Kodjanian Dir Comm Mgmt | 40 | $148,527 | |
Daniel Salazar CFO | Officer | 40 | $148,123 |
Duncan Mullis Dir Rec & Parks | 40 | $125,135 | |
Petra Padilla Program Manager | 40 | $107,243 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
High Sierra Pools Inc Pool Resurfacing | 12/30/23 | $200,195 |
Brightview Landscapes Landscaping | 12/30/23 | $543,837 |
Mled Tech Llc Led Lighting Upgrades | 12/30/23 | $168,975 |
Keller Construction Management Construction | 12/30/23 | $699,451 |
Dresner Group Llc It Provider | 12/30/23 | $136,482 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,224,036 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $284,821 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,130,627 |
| Noncash contributions included in lines 1a–1f | $1,130,327 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,639,484 |
| Total Program Service Revenue | $1,513,987 |
| Investment income | $211,118 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,071 |
| Net Gain/Loss on Asset Sales | -$3,740 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,256,588 |
| 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. | $519,668 |
| Compensation of current officers, directors, key employees. | $140,227 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,514,643 |
| Pension plan accruals and contributions | $139,888 |
| Other employee benefits | $607,691 |
| Payroll taxes | $367,619 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,246 |
| Fees for services: Accounting | $45,604 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,159 |
| Fees for services: Other | $80,719 |
| Advertising and promotion | $0 |
| Office expenses | $364,774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $341,796 |
| 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 | $859,072 |
| Insurance | $190,785 |
| All other expenses | $182,776 |
| Total functional expenses | $8,514,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,117,551 |
| Savings and temporary cash investments | $3,208,382 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $466,463 |
| 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 | $42,534 |
| Net Land, buildings, and equipment | $14,425,469 |
| Investments—publicly traded securities | $6,968,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,229,375 |
| Accounts payable and accrued expenses | $665,973 |
| Grants payable | $0 |
| Deferred revenue | $801,961 |
| 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 | $85,721 |
| Total liabilities | $1,553,655 |
| Net assets without donor restrictions | $25,673,734 |
| Net assets with donor restrictions | $1,986 |
| 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 | $27,229,375 |