Andover Lake Property Owners Association Inc
- Assets
- $791.7k
- Revenue
- $175.8k
- Investments
- $0.0
- Employees
- 9
- Location
- Andover, CT
- Founding
- 08/1953
- Data as of
- 09/2021
- EIN
- 06-6069082
Organization Overview
Andover Lake Property Owners Association Inc is located in Andover, CT. The organization was established in 1953. 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 09/2021, Andover Lake Property Owners Association Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Andover Lake Property 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 09/2021, Andover Lake Property Owners Association Inc generated $175.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $97.4k during the year ending 09/2021. While expenses have increased by 3.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ANDOVER LAKE PROPERTY OWNERS' ASSOCIATION'S PRIMARY MISSION IS THE CONSERVATION AND PRESERVATION OF THE PRISTINE CONDITION OF ANDOVER LAKE, ITS BEACH AND SURROUNDING AREAS AND THE DISSEMINATION OF SCIENTIFIC INFORMATION TO THE COMMUNITY REGARDING THE LAKE'S HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE MAINTENANCE, INSURANCE AND TAXES PAID TO AFFILIATE - ANDOVER LAKE MANAGEMENT ASSOCIATION, INC.
BEACH AND LAKE SUPERVISION, LIFEGUARDS, SWIM LESSONS, EVENTS AND PROGRAMS.DUE TO THE PANDEMIC THE ASSOCIATION FOLLOWED STATE AND FEDERAL PROTOCOLS. ASSOCIATION MEMBERSHIP INCREASED IN BOTH 2020 AND 2021, BECAUSE THE BEACH AND LAKE WERE ACCESSIBLE TO MEMBERS.
COMMUNICATION WITH MEMBERS AND MEMBERSHIP EXPENSES. APPROXIMATELY 430 MEMBERS; AN INCREASE OF ABOUT 26% OVER THE PRIOR YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Burke President | OfficerTrustee | 4 | $0 |
Ken Marcia Vice President | OfficerTrustee | 3 | $0 |
Linda Chambers Treasurer | OfficerTrustee | 2 | $0 |
Stacey Kaufman Secretary | OfficerTrustee | 1 | $0 |
Nancy Farrell Director | Trustee | 0.5 | $0 |
Paul Carbonneau Director | Trustee | 0.5 | $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 | $122,645 |
| Investment income | $13,582 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,746 |
| Net Income from Fundraising Events | $3,837 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $175,810 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,177 |
| 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 | $23,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,380 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,608 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $613 |
| 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 | $44,000 |
| Depreciation, depletion, and amortization | $260 |
| Insurance | $3,014 |
| All other expenses | $5,104 |
| Total functional expenses | $97,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,984 |
| Savings and temporary cash investments | $87,916 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $4,941 |
| Investments—publicly traded securities | $672,840 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $791,681 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $791,681 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $791,681 |
Endowment Analysis
| Beg. Balance | $517,038 |
| Earnings | $111,410 |
| Admin Expense | $5,608 |
| Net Contributions | $50,000 |
| Ending Balance | $672,840 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Womens Prison Association And Home New York, NY | $6,652,586 | $9,309,545 |
Homes For The Homeless Institute Inc New York, NY | $69,885,275 | $9,054,313 |
Initiative For A Competitive Inner City Inc Roxbury, MA | $11,137,097 | $6,700,624 |
Spring Meadows Association Of Responsible Tenants Inc Springfield, MA | $14,323,481 | $4,117,328 |
St Vincents Development Inc Trumbull, CT | $27,854,287 | $3,404,975 |
Mutual Housing Association Of Greater Hartford Inc Hartford, CT | $35,173,874 | $3,634,828 |
Homeownership Affordability Trust Fund Providence, RI | $111,238,696 | $1,978,717 |
Urban Homeownership Corp New York, NY | $1,496,101 | $1,881,775 |
Building Owners And Managers Association Of Greater New York B New York, NY | $3,005,269 | $2,303,444 |
Newvue Affordable Housing Corporation Fitchburg, MA | $9,905,411 | $1,607,987 |
Joseph M Dassern Housing Corporation Dobbs Ferry, NY | $2,857,520 | $1,210,558 |
Woodridge Lake Property Owners Assoc Inc Goshen, CT | $4,741,298 | $1,466,454 |