Woodforest Owners Association Inc
- Assets
- $5.3m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 09/2010
- Data as of
- 12/2021
- EIN
- 26-3727426
Organization Overview
Woodforest Owners Association Inc is located in Houston, TX. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodforest 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 12/2021, Woodforest Owners Association Inc generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $10.0m during the year ending 12/2021. While expenses have increased by 22.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAINTENANCE AND PRESERVATION OF THE COMMMON AREAS WHICH BENEFIT THE COMMUNITY AND PUBLIC AT LARGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE AND PRESERVATION OF THE COMMMON AREAS WHICH BENEFIT THE COMMUNITY AND PUBLIC AT LARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Reese Secretary | OfficerTrustee | 2 | $0 |
Virgil Yoakum President | OfficerTrustee | 2 | $0 |
Faith Pitman Treasurer | OfficerTrustee | 2 | $0 |
Stephen Barrera Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Water Resiential Pool | 12/30/21 | $442,882 |
Gulf Coast Landscape Landscaping | 12/30/21 | $362,199 |
Treespaces Inc Landscaping | 12/30/21 | $2,217,493 |
Storm Maintenance Monitor Mowing | 12/30/21 | $642,112 |
Mid-south Energy Utilities | 12/30/21 | $2,939,358 |
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 | $3,807,821 |
| Investment income | $1,635 |
| 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 | $9,874,039 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $172,423 |
| Fees for services: Legal | $47,169 |
| Fees for services: Accounting | $0 |
| 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 | $116,202 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $37,333 |
| All other expenses | $1,499,202 |
| Total functional expenses | $9,962,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,118,685 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $222,588 |
| 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 | $0 |
| Total assets | $5,341,273 |
| Accounts payable and accrued expenses | $113,353 |
| Grants payable | $0 |
| Deferred revenue | $1,659,225 |
| 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 | $2,563,451 |
| Total liabilities | $4,336,029 |
| 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 | $1,005,244 |
| Total liabilities and net assets/fund balances | $5,341,273 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sienna Plantation Residential Association Inc Missouri City, TX | $10,383,877 | $12,546,129 |
Riverstone Homeowners Association Sugar Land, TX | $13,624,654 | $10,362,620 |
Woodforest Owners Association Inc Houston, TX | $5,341,273 | $9,874,039 |
Cinco Residential Property Assn Inc Katy, TX | $14,599,829 | $10,954,529 |
Stonebridge Ranch Community Association Inc Dallas, TX | $11,315,034 | $8,717,166 |
Towne Lake Community Association Inc Cypress, TX | $4,256,681 | $7,685,021 |
Walden On Lake Conroe Community Improvement Asso Montgomery, TX | $5,919,000 | $7,405,584 |
Aliana Homeowners Association Inc Pipe Creek, TX | $4,933,191 | $6,737,042 |
Steiner Ranch Master Association Inc Austin, TX | $3,672,449 | $4,302,724 |
Canyon Falls Master Community Inc Dallas, TX | $5,159,893 | $4,744,849 |
Castle Hills Master Association Inc Lewisville, TX | $4,067,423 | $4,896,405 |
New Property Owners Association Of Newport Inc Crosby, TX | $4,877,552 | $4,531,996 |