Villa Portofino Homeowners Association
- Assets
- $1.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- San Diego, CA
- Founding
- 10/1979
- Data as of
- 06/2022
- EIN
- 95-2836271
Organization Overview
Villa Portofino Homeowners Association is located in San Diego, CA. The organization was established in 1979. 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 06/2022, Villa Portofino Homeowners Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Villa Portofino Homeowners Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Villa Portofino Homeowners Association generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. 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
MANAGEMENT AND MAINTENANCE OF PLANNED UNIT DEVELOPMENT CONSISTING OF 721 RESIDENTIAL UNITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGED THE PLANNED UNIT DEVELOPMENT ON BEHALF OF THE MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Costello Treasurer | OfficerTrustee | 2 | $0 |
Laura Keach Vice-President | OfficerTrustee | 2 | $0 |
Barbara Jaffe-Rose Secretary | OfficerTrustee | 2 | $0 |
Michael Poffenberger President | OfficerTrustee | 2 | $0 |
Brad Lawhorn Director | Trustee | 1 | $0 |
Muriel Vasconcellos Director | Trustee | 1 | $0 |
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 | $1,409,638 |
| Investment income | $1,394 |
| 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 | $1,411,032 |
| 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 | $110,771 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,650 |
| Payroll taxes | $10,979 |
| Fees for services: Management | $30,268 |
| Fees for services: Legal | $12,024 |
| Fees for services: Accounting | $2,100 |
| 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 | $38,500 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $377,814 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,350 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,625 |
| All other expenses | $0 |
| Total functional expenses | $1,294,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,763 |
| Savings and temporary cash investments | $1,054,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,878 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $400 |
| Total assets | $1,188,392 |
| Accounts payable and accrued expenses | $15,117 |
| Grants payable | $0 |
| Deferred revenue | $48,572 |
| 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 | $63,689 |
| 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 | $1,124,703 |
| Total liabilities and net assets/fund balances | $1,188,392 |
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