Lake Monticello Owners Association
- Assets
- $27.3m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 94
- Location
- Lake Monticello, VA
- Founding
- 03/1977
- Data as of
- 12/2021
- EIN
- 54-0897858
Organization Overview
Lake Monticello Owners Association is located in Lake Monticello, VA. The organization was established in 1977. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Lake Monticello Owners Association employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Monticello Owners Association 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 12/2021, Lake Monticello Owners Association generated $9.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $9.7m during the year ending 12/2021. While expenses have increased by 9.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MANAGE AND SERVE THE LAKE MONTICELLO COMMUNITY; INCLUDING PROVIDING SECURITY,RECREATIONAL FACILITIES, ROADS, AND COMMON AREA MAINTENANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVATION OF COMMON AREAS, PROVIDING MUNICIPAL TYPE SERVICES, AND MANAGEMENT OF THE LAKE MONTICELLO COMMUNITY FOR MORE THAN 4,600 INDIVIDUAL UNITS
PROVIDING FOOD AND BEVERAGE OPERATIONS FOR THE COMMUNITY.
MAINTENANCE OF GOLF COURSE FOR THE COMMUNITY.
PROVIDING RECREATIONAL AMENITIES FOR THE COMMUNITY; INCLUDING A POOL, MARINA, AND TENNIS FACILITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Hurwitz General Mana | Officer | 40 | $106,050 |
Judy Fish Vice Preside | OfficerTrustee | 4 | $0 |
Jay Hinkle Treasurer | OfficerTrustee | 4 | $0 |
Larry Henson President | OfficerTrustee | 4 | $0 |
Gary Sellick Secretary | OfficerTrustee | 4 | $0 |
John Williamson Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
County Waste Trash Removal | 12/30/18 | $749,338 |
Lake Monticello Golf Maint Llc General Maint. | 12/30/18 | $502,835 |
S L Williamson Co Inc Paving | 12/30/18 | $478,867 |
J A Heisler Contracting Co General Contrac | 12/30/18 | $412,051 |
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 | $8,811,724 |
| Investment income | $85,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $9,680,580 |
| 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. | $106,050 |
| Compensation of current officers, directors, key employees. | $106,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,119,579 |
| Pension plan accruals and contributions | $7,934 |
| Other employee benefits | $243,229 |
| Payroll taxes | $175,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,000 |
| Fees for services: Accounting | $25,000 |
| 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 | $50,000 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $254,387 |
| 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 | $1,048,753 |
| Insurance | $177,865 |
| All other expenses | $0 |
| Total functional expenses | $9,660,998 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214 |
| Savings and temporary cash investments | $2,254,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,655,967 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $302,162 |
| Inventories for sale or use | $25,160 |
| Prepaid expenses and deferred charges | $92,441 |
| Net Land, buildings, and equipment | $14,197,506 |
| Investments—publicly traded securities | $4,797,011 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,325,227 |
| Accounts payable and accrued expenses | $799,085 |
| Grants payable | $0 |
| Deferred revenue | $5,596,437 |
| 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 | $0 |
| Total liabilities | $6,395,522 |
| Net assets without donor restrictions | $0 |
| 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 | $20,929,705 |
| Total liabilities and net assets/fund balances | $27,325,227 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
People Incorporated Of Virginia Abingdon, VA | $22,478,644 | $16,537,740 |
Community Ventures Corporation Inc Lexington, KY | $84,057,573 | $14,249,179 |
Heart Of America Foundation Washington, DC | $21,952,714 | $13,311,439 |
Waterfront Partnership Of Baltimore Inc Baltimore, MD | $10,304,693 | $15,904,703 |
N Street Village Inc Washington, DC | $31,040,838 | $11,867,277 |
Lake Monticello Owners Association Lake Monticello, VA | $27,325,227 | $9,680,580 |
Competitive Enterprise Institute Washington, DC | $5,463,449 | $7,758,776 |
Building Bridges Across The River Washington, DC | $56,784,233 | $13,914,024 |
Echelon Community Services Washington, DC | $2,480,354 | $6,411,075 |
Reinvestment Partners Durham, NC | $12,338,640 | $8,350,193 |
American Property Owners Alliance Washington, DC | $1,922,706 | $4,612,000 |
Sandhills Community Action Program Inc Southern Pines, NC | $2,226,446 | $4,141,015 |