Lake Arrowhead Community Inc
- Assets
- $3.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 24
- Location
- North Waterboro, ME
- Founding
- 06/1997
- Data as of
- 04/2022
- EIN
- 01-0341134
Organization Overview
Lake Arrowhead Community Inc is located in North Waterboro, ME. The organization was established in 1997. 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 04/2022, Lake Arrowhead Community Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Arrowhead Community 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 04/2022, Lake Arrowhead Community Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $1.9m during the year ending 04/2022. While expenses have increased by 2.3% per year over the past 7 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
A HOMEOWNERS' ASSOCIATION THAT PROVIDES MAINTENANCE TO THE MEMBERS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY PROVIDES RECREATIONAL AND SOCIAL ACTIVITIES, ADMINISTERS COMMON SERVICES, AND MAINTAINS COMMON FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harris Amy Dir Of Finance & Admin | Officer | 40 | $54,390 |
Davis Scott Trustee From August 2021 | OfficerTrustee | 40 | $7,253 |
Fowler George Trustee / Treasurer | OfficerTrustee | 1 | $0 |
Fitzpatrick Michael Trustee / Vice President | OfficerTrustee | 1 | $0 |
Martel Alan Trustee / Clerk | OfficerTrustee | 1 | $0 |
Sanfason Dave Trustee / President | OfficerTrustee | 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 | $1,803,414 |
| Investment income | $4,008 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,138 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,857,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| 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. | $70,999 |
| Compensation of current officers, directors, key employees. | $62,270 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $534,189 |
| Pension plan accruals and contributions | $17,334 |
| Other employee benefits | $96,461 |
| Payroll taxes | $48,629 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,323 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $595 |
| Office expenses | $81,133 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $158,050 |
| Travel | $2,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,950 |
| Interest | $6,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $361,162 |
| Insurance | $109,874 |
| All other expenses | $2,837 |
| Total functional expenses | $1,872,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,194 |
| Savings and temporary cash investments | $1,135,449 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $76,458 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $71,259 |
| Prepaid expenses and deferred charges | $8,653 |
| Net Land, buildings, and equipment | $2,153,733 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,499,746 |
| Accounts payable and accrued expenses | $22,661 |
| Grants payable | $0 |
| Deferred revenue | $296,632 |
| 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 | $280,113 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $599,406 |
| 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 | $1,186,700 |
| Retained earnings, endowment, accumulated income, or other funds | $1,713,640 |
| Total liabilities and net assets/fund balances | $3,499,746 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Roc Usa Llc Concord, NH | $163,263,242 | $13,007,393 |
Lake Arrowhead Community Inc North Waterboro, ME | $3,499,746 | $1,857,850 |
Maine Campground Owners New Southwick Assoc Auburn, ME | $476,816 | $359,645 |
Greenville Housing Corp Greenville, ME | $661,973 | $282,575 |
Island Falls Housing Corp Patten, ME | $492,631 | $256,666 |
Corinth Housing Corporation Stetson, ME | $555,880 | $229,208 |
Corinna Housing Corporation Corinna, ME | $1,115,071 | $250,805 |
Bradford Housing Corporation Bangor, ME | $1,266,149 | $190,595 |
New Hampshire Campground Owners Association Epsom, NH | $501,988 | $182,145 |
Mattanawcook Terrace Housing Corp Bangor, ME | $1,039,438 | $213,603 |
Norridgewock Housing Corp Norridgewock, ME | $462,590 | $198,951 |
Easton Housing Corporation Easton, ME | $246,896 | $0 |