Inwood North Home Owners Association Inc
- Assets
- $2.4m
- Revenue
- $684.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 01/2015
- Data as of
- 12/2021
- EIN
- 74-1823725
Organization Overview
Inwood North Home Owners Association Inc is located in Houston, TX. The organization was established in 2015. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inwood North Home 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, Inwood North Home Owners Association Inc generated $684.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $562.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 6 years. 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 ASSOCIATION IS RESPONSIBLE FOR MAINTAINING THE SAFETY AND WELFARE OF THE PUBLIC AND MEMBERS OF THE COMMUNITY THROUGH THE MAINTENANCE, MANAGEMENT AND IMPROVEMENTS TO THE COMMON AND RECREATIONAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION MAINTAINS THE POOL, INSURANCE, LANDSCAPING, UTILITIES, COMMUNICATIONS, REPAIRS, ETC TO PROMOTE A SAFE ENVIRONMENT FOR RESIDENTS AND VISITORS FOR THE COMMON GOOD AND GENERAL WELFARE OF THE PUBLIC AND MEMBERS.
THE ASSOCIATION IS RESPONSIBLE FOR MAINTAINING THE SAFETY AND WELFARE OF THE PUBLIC AND MEMBERS OF THE COMMUNITY THROUGH THE INSURANCE, PROPERTY TAXES, AND WEBSITE EXPENSES TO THE COMMON AND RECREATIONAL AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Schultz Vice President | OfficerTrustee | 2 | $0 |
Jenny Flippen President | OfficerTrustee | 2 | $0 |
Debra Potts Vice President | OfficerTrustee | 2 | $0 |
Kumar Bhattacharjee Secretary | OfficerTrustee | 2 | $0 |
Jk Worah Treasurer | OfficerTrustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $568,910 |
| Investment income | $14,615 |
| 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 | $684,469 |
| 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 | $97,065 |
| Fees for services: Accounting | $14,275 |
| 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 | $21,076 |
| 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 | $33,516 |
| All other expenses | $43,818 |
| Total functional expenses | $562,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $382,696 |
| Savings and temporary cash investments | $1,806,377 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $172,299 |
| 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 | $1,500 |
| Total assets | $2,362,872 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $9,093 |
| 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 | $9,093 |
| 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 | $2,353,779 |
| Total liabilities and net assets/fund balances | $2,362,872 |
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|---|---|---|
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New Territory Residential Community Association Inc Sugar Land, TX | $13,783,433 | $7,053,761 |
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Royal Oaks Residential Community Association Inc Houston, TX | $4,376,015 | $2,990,120 |
Lakes Of Parkway Homeowners Assoc Inc Dallas, TX | $3,777,483 | $2,435,933 |
Lakemont Community Association Inc Houston, TX | $2,950,553 | $1,882,252 |
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Carlton Woods Creekside Association Inc Houston, TX | $2,256,675 | $2,146,438 |
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Remington Ranch Community Association Inc Houston, TX | $2,192,588 | $1,678,707 |
Clear Lake City Community Association Inc Houston, TX | $3,912,139 | $1,649,644 |
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