Lakes Of Magnolia Homeowners Inc
- Assets
- $211.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 05/2015
- Data as of
- 12/2023
- EIN
- 20-4568359
Organization Overview
Lakes Of Magnolia Homeowners Inc is located in San Antonio, 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. Lakes Of Magnolia Homeowners 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 12/2023, Lakes Of Magnolia Homeowners Inc generated $108.1k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $115.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
MAINTAIN COMMON ELEMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Ivey Treasurer | 2 | $0 | |
Craig Townsend President | 2 | $0 | |
Taylor Allen Director | 2 | $0 | |
Kevin Walker Director | 2 | $0 | |
Rachel Holcombe Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,295 |
| Membership dues | $102,550 |
| Investment income | $254 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $108,099 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $35,730 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $79,627 |
| Total expenses | $115,357 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $162,339 |
| Other assets | $0 |
| Total assets | $211,266 |
| Total liabilities | $47,945 |
| Net assets or fund balances | $163,321 |