South Gulf Cove Homeowners Association Inc
- Assets
- $728.9k
- Revenue
- $237.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Port Charlotte, FL
- Founding
- Data as of
- 12/2021
- EIN
- 59-2572103
Organization Overview
South Gulf Cove Homeowners Association Inc is located in Port Charlotte, FL. South Gulf Cove Homeowners 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, South Gulf Cove Homeowners Association Inc generated $237.7k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 30.5% each year . All expenses for the organization totaled $43.7k during the year ending 12/2021. While expenses have increased by 8.4% per year over the past 3 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
MAINTAIN THE COMMON AREAS OF THE SUBDIVISION AND TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE PEOPLE OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN THE COMMON AREAS OF THE SUBDIVISION AND WORKED TO PROMOTE THE SAFETY AND WELL BEING OF THE RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Cormier President | OfficerTrustee | 8 | $0 |
Tim Bullard First Vice President | OfficerTrustee | 2 | $0 |
Sheryl Blocklin Secretary | OfficerTrustee | 6 | $0 |
Nancy Missall Treasurer | OfficerTrustee | 6 | $0 |
Jerry Berg Second Vice President | OfficerTrustee | 3 | $0 |
Eric Bell Director | Trustee | 2 | $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 | $1,877 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,877 |
| Total Program Service Revenue | $206,206 |
| Investment income | $243 |
| 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 | $29 |
| Net Income from Sales of Inventory | $429 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $237,684 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| 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 | $200 |
| Office expenses | $2,246 |
| Information technology | $1,585 |
| Royalties | $0 |
| Occupancy | $10,786 |
| 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 | $8,141 |
| Insurance | $5,380 |
| All other expenses | $15,320 |
| Total functional expenses | $43,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,045 |
| Savings and temporary cash investments | $389,854 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $802 |
| 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 | $2,469 |
| Net Land, buildings, and equipment | $317,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $728,939 |
| Accounts payable and accrued expenses | $2,306 |
| Grants payable | $0 |
| Deferred revenue | $27,480 |
| 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 | $500 |
| Total liabilities | $30,286 |
| Net assets without donor restrictions | $698,653 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $728,939 |
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