Terrace P U D Owners Association Inc
- Assets
- $98.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Midland, TX
- Founding
- 01/1998
- Data as of
- 12/2023
- EIN
- 74-2798527
Organization Overview
Terrace P U D Owners Association Inc is located in Midland, TX. The organization was established in 1998. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terrace P U D Owners 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 12/2023, Terrace P U D Owners Association Inc generated $35.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $55.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THIS ORGANIZATION IS OPERATED TO ADMINISTER AND ENFORCE COVENANTS FOR PRESERVING THE ARCHITECTURE AND APPEARANCE OF THE AREA AND TO MAINTAIN COMMON GREENBELT AREAS INCLUDING IRRIGATION AND RETAINING WALLS FOR THE USE OF THE DEVELOPMENT AND THE GENERAL PUBLIC. THE ORGANIZATION WILL DEDICATE 100% OF ITS TIME TO THIS PURPOSE 365 DAYS A YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brock Thompson Treasurer | 0.25 | $0 | |
Rod Arend Vice President/director | 1 | $0 | |
Robert Rendall Assistant Secretary | 0.15 | $0 | |
Jennifer Choi Secretary/director | 0.5 | $0 | |
Mel Riggs President/director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,859 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $35,859 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $4,845 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $22 |
| Other expenses | $50,309 |
| Total expenses | $55,176 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $16,669 |
| Other assets | $0 |
| Total assets | $98,671 |
| Total liabilities | $82,024 |
| Net assets or fund balances | $16,647 |