Wellington Of Flower Mound Residential Association is located in Flower Mound, TX. The organization was established in 2015. 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. Wellington Of Flower Mound Residential 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, Wellington Of Flower Mound Residential Association generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 1.6% 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 PROVIDE MANAGEMENT, MAINTENANCE, PRESERVATION AND ARCHITECTURAL CONTROL OF THE ASSOCIATION'S COMMON AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE AND IMPROVEMENT OF COMMON PROPERTY
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Steve Lyda President | OfficerTrustee | 3 | $0 |
Sean May Secretary | OfficerTrustee | 3 | $0 |
Sal Soriano Treasurer | OfficerTrustee | 3 | $0 |
Russel Schmidt Vice President | OfficerTrustee | 3 | $0 |
Mo Virani Director | Trustee | 0 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Ratcliff Hardscape Ltd General Construction | 12/30/21 | $153,785 |
Knight Restoration Lp Commercial Property Restoration | 12/30/21 | $141,858 |
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 | $2,067,583 |
Investment income | $4,105 |
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 | $2,071,688 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $338,425 |
Fees for services: Legal | $37,047 |
Fees for services: Accounting | $5,050 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $50 |
Advertising and promotion | $0 |
Office expenses | $65,580 |
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 | $0 |
Insurance | $43,243 |
All other expenses | $31,634 |
Total functional expenses | $2,121,945 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $384,134 |
Savings and temporary cash investments | $500,993 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $54,222 |
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 | $28,667 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,140 |
Total assets | $976,156 |
Accounts payable and accrued expenses | $28,316 |
Grants payable | $0 |
Deferred revenue | $370,598 |
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 | $1,467 |
Total liabilities | $400,381 |
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 | $575,775 |
Total liabilities and net assets/fund balances | $976,156 |
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