Summit Community Association
- Assets
- $7.3m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Irvine, CA
- Founding
- 02/2007
- Data as of
- 12/2023
- EIN
- 33-0400250
Organization Overview
Summit Community Association is located in Irvine, CA. The organization was established in 2007. 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. Summit Community Association 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, Summit Community Association generated $2.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION IS OBLIGATED TO MAINTAIN LANDSCAPING AND COMMON AREAS AND PARKS ACCESSIBLE TO THE COMMUNITY AND THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Majid Maleki President | Officer | 2 | $0 |
Steve Feitlin V.P. | Officer | 2 | $0 |
William Van Winkle Secretary | Officer | 2 | $0 |
Lawrence Dick Treasurer | Officer | 2 | $0 |
Terry Hester Member At Large | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
O'connell Landscape Monthly Landscape Service | 12/30/23 | $1,089,581 |
Firstservice Residential Monthly Management & Admin. Support | 12/30/23 | $159,884 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,970,760 |
| 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 | $1,970,760 |
| Total Program Service Revenue | $0 |
| Investment income | $235,376 |
| 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 | $2,220,314 |
| 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 | $117,763 |
| Fees for services: Legal | $23,637 |
| Fees for services: Accounting | $2,348 |
| 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 | $0 |
| 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 | $65,821 |
| All other expenses | $164,855 |
| Total functional expenses | $1,807,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,351 |
| Savings and temporary cash investments | $7,051,304 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,831 |
| 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 | $14,098 |
| 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 | $7,326,584 |
| Accounts payable and accrued expenses | $124,410 |
| Grants payable | $0 |
| Deferred revenue | $44,110 |
| 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 | $22,735 |
| Total liabilities | $191,255 |
| Net assets without donor restrictions | $1,664,394 |
| Net assets with donor restrictions | $5,470,935 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,326,584 |