Lake Monticello Owners Association
- Assets
- $27.3m
- Revenue
- $9.4m
- Investments
- $0.0
- Employees
- 77
- Location
- Lake Monticello, VA
- Founding
- 03/1977
- Data as of
- 12/2022
- 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 12/2022, Lake Monticello Owners Association employed 77 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 12/2022, Lake Monticello Owners Association generated $9.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $9.5m during the year ending 12/2022. While expenses have increased by 8.3% 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 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 RECREATIONAL AMENITIES FOR THE COMMUNITY; INCLUDING A POOL, MARINA, AND TENNIS FACILITIES.
PROVIDING FOOD AND BEVERAGE OPERATIONS FOR THE COMMUNITY.
MAINTENANCE OF GOLF COURSE FOR THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Henson President | OfficerTrustee | 4 | $0 |
Gary Sellick Vice Preside | OfficerTrustee | 4 | $0 |
Jay Hinkle Treasurer | OfficerTrustee | 4 | $0 |
Johnny Williamson Secretary | OfficerTrustee | 4 | $0 |
Don Polonis Director | Trustee | 4 | $0 |
Jeff Spinello 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 | $8,988,762 |
| Investment income | $82,924 |
| 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 | $9,392,459 |
| 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. | $119,096 |
| Compensation of current officers, directors, key employees. | $119,096 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,920,084 |
| Pension plan accruals and contributions | $30,353 |
| Other employee benefits | $262,006 |
| Payroll taxes | $160,064 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,985 |
| Fees for services: Accounting | $60,753 |
| 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 | $74,423 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $271,255 |
| 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 | $1,192,600 |
| Insurance | $279,744 |
| All other expenses | $0 |
| Total functional expenses | $9,540,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214 |
| Savings and temporary cash investments | $3,760,759 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,113,249 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,254 |
| Prepaid expenses and deferred charges | $194,612 |
| Net Land, buildings, and equipment | $13,940,973 |
| Investments—publicly traded securities | $3,220,545 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,282,606 |
| Accounts payable and accrued expenses | $216,501 |
| Grants payable | $0 |
| Deferred revenue | $5,921,145 |
| 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 | $6,137,646 |
| 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 | $21,144,960 |
| Total liabilities and net assets/fund balances | $27,282,606 |