Seabrook Island Property Owners Association
- Assets
- $21.4m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 41
- Location
- Johns Island, SC
- Founding
- 06/2010
- Data as of
- 12/2023
- EIN
- 57-0600562
Organization Overview
Seabrook Island Property Owners Association is located in Johns Island, SC. The organization was established in 2010. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Seabrook Island Property Owners Association employed 41 individuals. This organization is the central organization for a national or regional group of organizations. Seabrook Island Property 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 12/2023, Seabrook Island Property Owners Association generated $11.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $8.3m during the year ending 12/2023. While expenses have increased by 3.2% per year over the past 9 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
TO PRESERVE THE PROPERTY VALUES AND QUALITY OF LIFE OF THE COMMUNITY ON SEABROOK ISLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE PATROL SERVICE - THE ASSOCIATION PROVIDES A PRIVATE PATROL SERVICE TO THE COMMUNITY, WHICH IS ANOTHER IMPORTANT ASSOCIATION ACTIVITY THAT PROMOTES THE GENERAL WELFARE OF THE COMMUNITY. THE PATROL SERVICE DUTIES INCLUDE PATROLLING THE COMMUNITY WHILE WATCHING OUT FOR UNUSUAL OR SUSPICIOUS ACTIVITY TO REDUCE CRIME. MINOR TRAFFIC MATTERS ARE HANDLED BY THE UNARMED ASSOCIATION SECURITY STAFF. MORE SERIOUS MATTERS ARE HANDLED BY THE COUNTY SHERIFF'S DEPARTMENT. THE ASSOCIATION SECURITY STAFF ACTS AS A LIAISON TO THE CHARLESTON COUNTY SHERRIFF'S DEPARTMENT FOR INCIDENTS THAT OCCUR ON SEABROOK ISLAND, WITH POLICE RADIOS FOR DIRECT CONTACT. THE SECURITY STAFF IS ALSO ALERTED TO 911 CALLS WITHIN THE COMMUNITY AND IN MOST INSTANCES IS THE FIRST RESPONDER TO EMERGENCY CALLS. THE MAJORITY OF THE SECURITY STAFF MEMBERS ARE TRAINED TO RESPOND TO EMERGENCIES IN CPR AND DEFIBRILLATOR USE. DEPUTY SHERIFFS ARE OFTEN HIRED FOR SPECIAL EVENT SECURITY WITHIN THE ASSOCIATION.
OTHER EXPENSES INCLUDE PAYROLL AND RELATED COSTS, DEPRECIATION AND OTHER COSTS.
ROAD & STORM DRAIN MAINTENANCE - THE ASSOCIATION OWNS SOME 28 MILES OF ROADS, AND IS FULLY RESPONSIBLE FOR THE MAINTENANCE, REPAIR, AND RECONSTRUCTION OF THESE ROADS. THE ASSOCIATION'S ROAD MAINTENANCE ACTIVITIES PROMOTE THE GENERAL WELFARE OF THE COMMUNITY AND, BECAUSE ROAD MAINTENANCE IS AN ESSENTIAL GOVERNMENTAL FUNCTION, THE ACTIVITIES LESSEN THE BURDEN OF THE TOWN OF SEABROOK ISLAND AND/OR THE COUNTY OF CHARLESTON. THE ASSOCIATION ALSO MAINTAINS ALL STORM DRAINS THAT SERVICE THE COMMUNITY. THIS IS A PARTICULARLY IMPORTANT SERVICE ON A LOW LYING ISLAND SUBJECT TO HURRICANE FLOODING.
MAINTENANCE OF GREENBELTS, LAKES, AND PONDS - THE ASSOCIATION MAINTAINS LANDSCAPED TRAFFIC ISLANDS, GREENBELTS ADJACENT TO STREETS, AND SEVERAL COMMON AREA LOTS, AS WELL AS NUMEROUS LAKES AND PONDS FOR ALGAE CONTROL, AND BUILDING BIRD AND FISH HABITATS. THIS IS PART OF A BEAUTIFICATION PROJECT THAT PROMOTES THE GENERAL WELFARE OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Sesody Director | Trustee | 4 | $0 |
Mike Sankovich Director | Trustee | 4 | $0 |
Sue Ferland Director | Trustee | 4 | $0 |
Joyce Phillips Director | Trustee | 4 | $0 |
Bradley Phillips Director | Trustee | 4 | $0 |
Lisa Ryan Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Service Security | 12/30/23 | $682,461 |
The Greenery Landscaping | 12/30/23 | $474,662 |
Sanders Brothers Construction Co Inc Construction | 12/30/23 | $425,360 |
Capital Waste Garbage Collection | 12/30/23 | $418,616 |
Pete Duty & Associates Pumps | 12/30/23 | $342,151 |
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 | $9,867,718 |
| Investment income | $271,022 |
| 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 | $11,144,122 |
| 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. | $628,586 |
| Compensation of current officers, directors, key employees. | $125,717 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,181,088 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $44,118 |
| Payroll taxes | $129,551 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $196,091 |
| 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 | $605,245 |
| Insurance | $523,697 |
| All other expenses | $1,208,425 |
| Total functional expenses | $8,312,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,599,566 |
| Savings and temporary cash investments | $7,997,284 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,833 |
| 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 | $313,076 |
| Net Land, buildings, and equipment | $8,469,998 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,407,757 |
| Accounts payable and accrued expenses | $181,746 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $683,027 |
| Total liabilities | $864,773 |
| Net assets without donor restrictions | $12,545,700 |
| Net assets with donor restrictions | $7,997,284 |
| 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 | $21,407,757 |