Enchanted Lake Residents
- Assets
- $944.5k
- Revenue
- $53.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Kailua, HI
- Founding
- 02/1989
- Data as of
- 06/2022
- EIN
- 99-0259945
Organization Overview
Enchanted Lake Residents is located in Kailua, HI. The organization was established in 1989. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Enchanted Lake Residents is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Enchanted Lake Residents generated $53.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $43.7k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MANAGE AND MAINTAIN COMMUNITY LAKE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN A PRIOR FISCAL YEAR THE ORGANIZATION, AS A PLANTIFF, SETTLED A SIGNIFICANT PROPERTY DAMAGE CLAIM FOR THIRD PARTY SILTATION AND POLLUTION OF ITS PRIVATE RECREATION LAKE. THE PROCEEDS WILL BE USED TO MITIGATE THE DAMAGE OVER THE NEXT SEVERAL YEARS. DURING THE CURRENT FISCAL YEAR AN ESCROWED CONTINGENCY HOLD BACK FROM THE ORIGINAL SETTLEMENT WAS RELEASED IN FULL TO THE ORGANIZATION DUE TO A LACK OF CONTINGENCIES.DURING A PRIOR FISCAL YEAR THE ORGANZATION TOOK DELIVERY OF CUSTOM BUILT EQUIPMENT TO REMOVE ALGAE, SEAWEED, AND OTHER POLLUTANTS FROM THE LAKE. THE DELIVERED COST OF THE EQUIPMENT WAS $110,812. IN ADDITION THE ORGANIZATION CONTINUED WITH THE PLANNING AND PERMITTING PHASE OF A PLANNED DREDGINNG OF THE LAKE.
DURING THE CURRENT YEAR THE ORGANZTION TOOK EXTRA STEPS TO MAINTAIN CONTACT WITH THE ELECTED COUNTY AND STATE REPRESENTATIVES FOR THE DISTRICTS IN WHICH THE LAKE IS LOCATED. THE PURPOSE WAS TO ELEVATE THE REPRESENTATIVES AWARENESS OF MATTERS ENDANGERING THE HEALTH AND CLEANLINESS OF THE LAKE AND THE SURROUNDING COMMUNITY AND INSURE THEIR ASSISTANCE POLICING POLUTANTS ENTERING THE LAKE AND DRAINAGE SYSTEM THROUGH STORM DRAINS AND CANALS.
THE ORGANIZATION CONTINUED TO MANAGE, MAINTAIN, SECURE, AND INSURE ITS PRIVATE COMMUNITY LAKE FOR THE RECREATIONAL USE AND ESTHETIC BENEFITS OF ITS MEMBERS. THE TOTAL COST OF CASUALTY AND LIABILITY INSURANCE COVERAGE WAS $19,821.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanette Bean 1st Vice President | OfficerTrustee | 4 | $0 |
Margaret Novack Secretary | OfficerTrustee | 4 | $0 |
Don Young President | OfficerTrustee | 6 | $0 |
Fp Gustavson Treasurer | OfficerTrustee | 4 | $0 |
Greg Colbert Director | Trustee | 4 | $0 |
Mike Compton Director | Trustee | 4 | $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 | $51,921 |
| Investment income | $1,059 |
| 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 | $52,980 |
| 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 | $3,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,343 |
| 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 | $1,767 |
| Information technology | $1,389 |
| 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 | $12,161 |
| Insurance | $19,821 |
| All other expenses | -$1,204 |
| Total functional expenses | $43,737 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,096 |
| Savings and temporary cash investments | $831,187 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$500 |
| 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 | $89,702 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $944,485 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $402,472 |
| 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 | $402,472 |
| 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 | $542,013 |
| Total liabilities and net assets/fund balances | $944,485 |
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