Sudden Valley Comm Assoc
- Assets
- $22.7m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 93
- Location
- Bellingham, WA
- Founding
- 04/2010
- Data as of
- 12/2022
- EIN
- 91-0909865
Organization Overview
Sudden Valley Comm Assoc is located in Bellingham, WA. The organization was established in 2010. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Sudden Valley Comm Assoc employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sudden Valley Comm Assoc 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, Sudden Valley Comm Assoc generated $6.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $5.6m during the year ending 12/2022. While expenses have increased by 5.1% 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
1) TO ACQUIRE, HOLD TITLE TO, AND MANAGE THE COMMON AREAS FOR THE BENEFIT OF ALL LOT OWNERS AND HOME OWNERS; 2) ESTABLISH AND COLLECT ASSESSMENTS AGAINST EACH LOT OWNER TO PROVIDE FOR MAINTENANCE AND OPERATION OF COMMON AREAS AND FACILITIES; 3) ENGAGE IN SOCIAL AND COMMUNITY ACTIVITIES, INCLUDING THE DEVELOPMENT, CONSTRUCTION, MAINTENANCE, AND OPERATION OF ANY OTHER COMMUNITY FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUDDEN VALLEY IS HOME TO OVER 7,000 RESIDENTS AND AN ABUNDANCE OF WILDLIFE. THE ASSOCIATION MANAGES THE COMMUNITY THROUGH MAINTENANCE OF COMMON AREAS, AND PROVISION OF RECREATIONAL ACTIVITIES AND SECURITY. THE ASSOCIATION CONTINUED "CLEAN GREEN" IN 2022, A SERVICE FOR THE COMMUNITY TO DISPOSE OF THEIR YARD DEBRIS. THIS SERVICE WAS PROVIDED BY LOCAL GOVERNMENT IN PRIOR YEARS AND WAS DISCONTINUED AT THE BEGINNING OF 2016. THE ASSOCIATION ALSO CONTINUED TO OFFER ITS DEVELOPED STORMWATER RUNOFF MANAGEMENT AND PHOSPHOROUS MITIGATION PLAN, AVAILABLE TO COMMUNITY MEMBERS FOR $500 PER PROPERTY; ESTIMATED TO SAVE THEM BETWEEN $10,000 AND $15,000 EACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Tischleder President | OfficerTrustee | 3 | $0 |
Asia Andrade Member-At-Large | Trustee | 1 | $0 |
Brian Cope Secretary, Member-At-Large | OfficerTrustee | 3 | $0 |
Gail Chlarello N&e Chair | Trustee | 1 | $0 |
Joshua Bowens Vice-President | OfficerTrustee | 2 | $0 |
Keith Mclean Acc Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
P & P Excavating Llc Project Construction | 12/30/22 | $761,081 |
Tiger Construction Ltd Project Construction | 12/30/22 | $630,570 |
Pnw Services Inc Project Engineering/management | 12/30/22 | $423,605 |
Pacific Security Security | 12/30/22 | $225,369 |
Rawls Tree Service Hazardous Tree Removal | 12/30/22 | $215,065 |
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 | $3,405 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,405 |
| Total Program Service Revenue | $6,288,690 |
| Investment income | $12,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $366,958 |
| Net Gain/Loss on Asset Sales | $13,441 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,769,923 |
| 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. | $173,750 |
| Compensation of current officers, directors, key employees. | $55,176 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,523,293 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $159,016 |
| Payroll taxes | $161,025 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $140,538 |
| Fees for services: Accounting | $125,082 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $708,215 |
| Advertising and promotion | $85,969 |
| Office expenses | $132,108 |
| Information technology | $45,477 |
| Royalties | $0 |
| Occupancy | $650,299 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,343 |
| Interest | $69,607 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,183,775 |
| Insurance | $157,540 |
| All other expenses | $22,819 |
| Total functional expenses | $5,619,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $982,968 |
| Savings and temporary cash investments | $6,952,592 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $74,325 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,200 |
| Prepaid expenses and deferred charges | $81,740 |
| Net Land, buildings, and equipment | $14,492,355 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $60,187 |
| Other assets | $11,441 |
| Total assets | $22,661,808 |
| Accounts payable and accrued expenses | $425,462 |
| Grants payable | $0 |
| Deferred revenue | $333,594 |
| 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 | $8,937,561 |
| Total liabilities | $9,696,617 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $482,330 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,505,891 |
| Retained earnings, endowment, accumulated income, or other funds | $9,976,970 |
| Total liabilities and net assets/fund balances | $22,661,808 |