Inverness Homeowners Association Inc
- Assets
- $196.0k
- Revenue
- $543.3k
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 05/2010
- Data as of
- 12/2023
- EIN
- 74-2898630
Organization Overview
Inverness Homeowners Association Inc, operating under the name Homeowner Association, is located in San Antonio, 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. Homeowner 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, Homeowner Association generated $543.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $575.6k during the year ending 12/2023. While expenses have increased by 10.1% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FOR THE MAINTENANCE, PRESERVATION AND ARCHITECTURAL CONTROLS OF THE SUBDIVISION. (SCH O) THIS UNIFORM PLAN FOR DEVELOPMENT AND IMPROVEMENT ENSURES THE PRESERVATION OF SUCH UNIFORM PLAN FOR THE BENEFIT OF BOTH PRESENT AND FUTURE HOMEOWNERS, SURROUNDING NEIGHBORHOODS AND THE PUBLIC TO PROTECT AND ENHANCE THE QUALITY OF LIFE IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LANDSCAPING AND IRRIGATION SYSTEM MAINTENANCE OF THE ENTRIES, PARK, WALKING TRAILS AND OTHER LANDSCAPE COMMON AREAS AND WILDLIFE AREAS. THESE AREAS ARE USED FOR COMMUNITY GATHERINGS, RELAXATION AND EXERCISE THROUGHOUT THE YEAR FOR THE GENERAL WELFARE OF THE PEOPLE OF THE ENTIRE COMMUNITY.
PAID PROPERTY TAXES ASSESSED ON THE COMMON AREAS OWNED BY THE ASSOCIATION, MAINTENANCE OF STREETS, LIGHTING, AND GENERAL REPAIRS AND OFFICE SUPPLIES FOR CORRESPONDENCE AND NEWSLETTERS TO THE COMMUNITY.
SECURITY SERVICES ARE PROVIDED TO THE COMMUNITY TO ENSURE A PEACEFUL AND COMFORTABLE ENVIRONMENT WITH THE NEEDS OF THE ENTIRE COMMUNITY CONSIDERED. MAINTENANCE OF THE GATES, ENTRANCE FACILITIES AND OTHER COMMON AREAS.
UTILITY EXPENSES INCLUDE WATER AND ELECTRICITY FOR THE IRRIGATION SYSTEM TO MAINTAIN THE GRASS AND PLANTS IN THE ENTRIES TO THE SUBDIVISION, PARK AND OTHER COMMON LANDSCAPE AREAS. ELECTRICITY FOR THE STREET LIGHTS AND OTHER LIGHTING AND ENTRY FACILITIES FOR THE SAFETY AND SECURITY OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth M Gindy President / Director | OfficerTrustee | 6 | $0 |
Israel Fogiel Vice President | OfficerTrustee | 6 | $0 |
Harvey H Howell Secretary | OfficerTrustee | 6 | $0 |
Drew Roy Vice President | OfficerTrustee | 6 | $0 |
Barry Bankler Vice President | OfficerTrustee | 6 | $0 |
Brad Richie Treasurer | Officer | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $543,292 |
| 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 | $543,292 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $543,292 |
| 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 | $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 | $0 |
| All other expenses | $25,828 |
| Total functional expenses | $575,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,446 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,574 |
| 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 | $196,020 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $48,641 |
| Total liabilities | $48,641 |
| 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 | $147,379 |
| Total liabilities and net assets/fund balances | $196,020 |