Lake Ridge Parks & Recreation Association Inc
- Assets
- $12.8m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 73
- Location
- Lake Ridge, VA
- Founding
- 05/1973
- Data as of
- 08/2023
- EIN
- 54-0910640
Organization Overview
Lake Ridge Parks & Recreation Association Inc is located in Lake Ridge, VA. The organization was established in 1973. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 08/2023, Lake Ridge Parks & Recreation Association Inc employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Ridge Parks & Recreation 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 08/2023, Lake Ridge Parks & Recreation Association Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $7.3m during the year ending 08/2023. While expenses have increased by 2.9% per year over the past 4 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
MAINTENANCE OF COMMONLY OWNED PROPERTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION WAS ORGANIZED TO COLLECTIVELY MAINTAIN AND PRESERVE THE COMMONLY OWNED PROPERTY AND AMENITIES FOR THE PLEASURE AND BENEFIT OF THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Foote Secretary | Officer | 0 | $0 |
William Milne Treasurer | Officer | 0 | $0 |
Michael Butler Vice President | Officer | 0 | $0 |
Ronald Yoho President | Officer | 0 | $0 |
Jack Bisase Member | Trustee | 0 | $0 |
John Maher Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sundek Of Washington Pool Sun Deck | 8/30/23 | $112,650 |
Disposal Services Llc Trash Removal | 8/30/23 | $882,961 |
Dominion Paving Paving | 8/30/23 | $379,575 |
Espina Paving Paving | 8/30/23 | $110,442 |
Premier Aquatics Pool Management | 8/30/23 | $569,786 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,012,608 |
| 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 | $7,012,608 |
| Total Program Service Revenue | $495,281 |
| Investment income | $232,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $48,238 |
| 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 | $8,150,120 |
| 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. | $358,017 |
| Compensation of current officers, directors, key employees. | $358,017 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,128,945 |
| Pension plan accruals and contributions | $90,650 |
| Other employee benefits | $372,555 |
| Payroll taxes | $185,029 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $139,647 |
| Fees for services: Accounting | $19,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,831 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $18,814 |
| Insurance | $238,999 |
| All other expenses | $2,735,816 |
| Total functional expenses | $7,303,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $912,821 |
| Savings and temporary cash investments | $11,505,535 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $118,302 |
| 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 | $245,632 |
| Net Land, buildings, and equipment | $34,198 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,816,488 |
| Accounts payable and accrued expenses | $746,665 |
| Grants payable | $0 |
| Deferred revenue | $874,178 |
| 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 | $1,620,843 |
| Net assets without donor restrictions | $1,411,394 |
| Net assets with donor restrictions | $9,784,251 |
| 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 | $12,816,488 |