Civic Intelligence

Fayson Lakes Association

990 • Fiscal year 2024 • EIN 22-1468840

Mar 01, 2023 to Feb 28, 2024 • Filed on Sep 24, 2024

Organization ProfileWWW.FAYSONLAKES.ORG
10 Clubhouse TrailKinnelon, NJ 07405

(973) 838-2043

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

70th percentile

0.38x

Higher debt load relative to assets than 70% of similar nonprofits.

2024 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.94x

Higher debt load relative to revenue than 78% of similar nonprofits.

2024 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2024

Net Margin

83rd percentile

23%

Higher net margin than 83% of similar nonprofits.

2024 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

85th percentile

$23,000

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2024 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2024

Asset Growth

82nd percentile

13%

Faster asset growth than 82% of similar nonprofits.

2024 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

4.4%

Faster revenue growth than 44% of similar nonprofits.

2024 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Flat

$1,401,696

Flat from 2024

Net Assets

Flat

$875,857

Flat from 2024

Liabilities

Flat

$525,839

Flat from 2024

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin83rd percentile

Revenue

Flat

$558,430

Flat from 2024

Expenses

Flat

$427,630

Flat from 2024

Net Income

Flat

$130,800

Flat from 2024

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2012: $1,347,832Liabilities 2012: $0Net Assets 2012: $1,347,8322012Assets 2013: $1,383,284Liabilities 2013: $0Net Assets 2013: $1,383,2842013Assets 2014: $1,413,075Liabilities 2014: $0Net Assets 2014: $1,413,0752014Assets 2015: $1,418,901Liabilities 2015: $1,210,666Net Assets 2015: $208,2352015Assets 2016: $1,455,355Liabilities 2016: $1,125,941Net Assets 2016: $329,4142016Assets 2017: $1,457,284Liabilities 2017: $1,036,781Net Assets 2017: $420,5032017Assets 2018: $1,288,715Liabilities 2018: $947,367Net Assets 2018: $341,3482018Assets 2019: $1,157,343Liabilities 2019: $855,532Net Assets 2019: $301,8112019Assets 2020: $1,183,773Liabilities 2020: $763,956Net Assets 2020: $419,8172020Assets 2021: $1,309,950Liabilities 2021: $807,092Net Assets 2021: $502,8582021Assets 2022: $1,203,398Liabilities 2022: $574,576Net Assets 2022: $628,8222022Assets 2023: $1,240,045Liabilities 2023: $471,354Net Assets 2023: $768,6912023Assets 2024: $1,401,696Liabilities 2024: $525,839Net Assets 2024: $875,8572024Assets 2024: $1,401,696Liabilities 2024: $525,839Net Assets 2024: $875,8572024Assets 2025: $1,435,602Liabilities 2025: $431,077Net Assets 2025: $1,004,5252025

Highlighted filing

2024

Assets$1,401,696
Liabilities$525,839
Net Assets$875,857
Open 2024 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2012: $406,900Expenses 2012: $404,966Net Income 2012: $1,9342012Revenue 2013: $295,466Expenses 2013: $260,014Net Income 2013: $35,4522013Revenue 2014: $400,444Expenses 2014: $370,653Net Income 2014: $29,7912014Revenue 2015: $402,973Expenses 2015: $313,117Net Income 2015: $89,8562015Revenue 2016: $445,296Expenses 2016: $324,273Net Income 2016: $121,0232016Revenue 2017: $439,363Expenses 2017: $348,274Net Income 2017: $91,0892017Revenue 2018: $453,851Expenses 2018: $533,006Net Income 2018: -$79,1552018Revenue 2019: $451,067Expenses 2019: $490,604Net Income 2019: -$39,5372019Revenue 2020: $473,811Expenses 2020: $355,805Net Income 2020: $118,0062020Revenue 2021: $477,746Expenses 2021: $394,705Net Income 2021: $83,0412021Revenue 2022: $529,468Expenses 2022: $403,504Net Income 2022: $125,9642022Revenue 2023: $535,105Expenses 2023: $395,236Net Income 2023: $139,8692023Revenue 2024: $558,430Expenses 2024: $427,630Net Income 2024: $130,8002024Revenue 2024: $558,430Expenses 2024: $427,630Net Income 2024: $130,8002024Revenue 2025: $583,486Expenses 2025: $454,760Net Income 2025: $128,7262025

Highlighted filing

2024

Revenue$558,430
Expenses$427,630
Net Income$130,800
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Mar 1, 2023 to Feb 28, 2024
Signed
Sep 24, 2024
Return Version
2023v5.1
Gross Receipts
$558,430
Mission and Program Overview

Mission

Provide water and beach recreation to lakeside community

Provide water and beach recreation to lake community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$905,266$876,607▼ $28,659
Rtn Earn Endowment Incm Other Fnds$768,691$875,857▲ $107,166
Savings and Temporary Cash Investments$236,673$275,165▲ $38,492
Cash and Non-Interest-Bearing Accounts$98,106$249,924▲ $151,818
Total Assets$1,240,045$1,401,696▲ $161,651
Liabilities
Unsecured Notes Loans Payable$470,664$369,684▼ $100,980
Deferred Revenue$687$156,155▲ $155,468
Other Liabilities$3--
Total Liabilities$471,354$525,839▲ $54,485
Net Assets / Fund Balance
Total Net Assets Fund Balance$768,691$875,857▲ $107,166
Total Liabilities and Net Assets / Fund Balance$1,240,045$1,401,696▲ $161,651

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$656,834$344,935$1,001,769
Other Land Buildings$219,773$494,106$713,879
Equipment-$6,687$6,687
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ashlee DeversBusiness ManagerPT$23,000$23,000
John WoodruffMaintenance-$2,640$2,640

Board Members and Trustees

NameTitle
Deborah ZyskowskiPresident
Michael MahfouzVice President
Aaron PastoreTrustee
Kristine KesselTrustee
Richard LevinTrustee
Tara JacobusTrustee
Thomas UrbanTrustee
Dorota RogulskaBusiness Manager
Eva GardowSecretary
Barbara KogenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$557,749
Program Service Revenue
$0
Investment Income
$681
Other Revenue
$0
All Other Contributions
$41,356
Change in Net Assets
$130,800
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$278,569
Salaries, Compensation, and Employee Benefits$149,061
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$109,860--$109,860
Insurance-$70,413-$70,413
Depreciation Depletion-$62,915-$62,915
All Other Expenses$39,744$9,670-$49,414
Current Officers, Directors, Trustees, and Key Employees-$26,476-$26,476
Payroll Taxes$12,725--$12,725
Other Expenses$9,836$31,789-$9,836
Interest-$8,911-$8,911
Fees for Services Accounting-$1,980-$1,980
Total Functional Expenses$215,476$212,154$0$427,630
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“Fayson lakes association consists of over 550 families. The homeowners are the members of the association. The association is comprised of a number of groups that volunteer to carry out activities throughout the year to benefit the association and the greater kinnelon community.”

Member election for additional members Part VI line 7A

“There are 9 board members. Board members hold a term of three years. Once a year in september, every homeowner in good standing, with dues paid up-to-date, vote on who will be the three newly elected board members. The three new board members take the place of the three board members completing three year term.”

Form 990 governing body review Part VI line 11

“Discussed at monthly meeting”

Form 990 availability to public Part VI line 18

“The organization makes form 990 available for review by association members upon request”

Governing documents etc available to public Part VI line 19

“No other documents available the public.”

Filing and Contact Details

Filer

Filer Name
Fayson Lakes Association
EIN
22-1468840
Address
10 CLUBHOUSE TRAIL, KINNELON, NJ 07405

Signing Officer

Name
Dorota Rogulska
Title
Business Manage
Phone
9738382043
Signed
2024-09-24
Discuss with paid preparer
Yes

Organization Details

Formed
1930
Legal Domicile
Nj
Voting Board Members
9
Independent Board Members
9
Employees
39

Preparer

Firm
Cronin Hanley Van Zile & Lorenzo
Address
17 Kiel Avenue Ste 1, Kinnelon, NJ 07405
Preparer
Maryann Hanley
Phone
9734923069
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

“Column b:badges 1,962clubhouse maintenance 10,057dam maintenance 6,970general maintenance 7,709grills 17fish stocking 5,732playground 7,297column c:utilities 9,377payroll service 1,974reconciliation (1,681)”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0768691
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0875857
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0236673
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0275165
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06687
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06687
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0656834
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0344935
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01001769
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0219773
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0494106
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0713879
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0876607
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FAYSON LAKES ASSOCIATION CONSISTS OF OVER 550 FAMILIES. THE HOMEOWNERS ARE THE MEMBERS OF THE ASSOCIATION. THE ASSOCIATION IS COMPRISED OF A NUMBER OF GROUPS THAT VOLUNTEER TO CARRY OUT ACTIVITIES THROUGHOUT THE YEAR TO BENEFIT THE ASSOCIATION AND THE GREATER KINNELON COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE 9 BOARD MEMBERS. BOARD MEMBERS HOLD A TERM OF THREE YEARS. ONCE A YEAR IN SEPTEMBER, EVERY HOMEOWNER IN GOOD STANDING, WITH DUES PAID UP-TO-DATE, VOTE ON WHO WILL BE THE THREE NEWLY ELECTED BOARD MEMBERS. THE THREE NEW BOARD MEMBERS TAKE THE PLACE OF THE THREE BOARD MEMBERS COMPLETING THREE YEAR TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DISCUSSED AT MONTHLY MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES FORM 990 AVAILABLE FOR REVIEW BY ASSOCIATION MEMBERS UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO OTHER DOCUMENTS AVAILABLE THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COLUMN B:BADGES 1,962CLUBHOUSE MAINTENANCE 10,057DAM MAINTENANCE 6,970GENERAL MAINTENANCE 7,709GRILLS 17FISH STOCKING 5,732PLAYGROUND 7,297COLUMN C:UTILITIES 9,377PAYROLL SERVICE 1,974RECONCILIATION (1,681)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01240045
IRS990/TotalAssetsEOYAmt01401696
IRS990/TotalAssetsGrp/BOYAmt01240045
IRS990/TotalAssetsGrp/EOYAmt01401696
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0557749
IRS990/TotalEmployeeCnt039
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0212154
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0215476
IRS990/TotalFunctionalExpensesGrp/TotalAmt0427630
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0471354
IRS990/TotalLiabilitiesEOYAmt0525839
IRS990/TotalLiabilitiesGrp/BOYAmt0471354
IRS990/TotalLiabilitiesGrp/EOYAmt0525839
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0768691
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0875857
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0215476
IRS990/TotalReportableCompFromOrgAmt025640
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0681
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0558430
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01240045
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01401696
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0470664
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0369684
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.FAYSONLAKES.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOROTA ROGULSKA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BUSINESS MANAGE
ReturnHeader/BusinessOfficerGrp/PhoneNum09738382043
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAYSON LAKES ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0FAYS
ReturnHeader/Filer/EIN0221468840
ReturnHeader/Filer/USAddress/AddressLine1Txt010 CLUBHOUSE TRAIL
ReturnHeader/Filer/USAddress/CityNm0KINNELON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007405
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472130068
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Cronin Hanley Van Zile & Lorenzo
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt017 Kiel Avenue Ste 1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Kinnelon
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007405
ReturnHeader/PreparerPersonGrp/PhoneNum09734923069
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Maryann Hanley
ReturnHeader/ReturnTs02024-09-24T12:58:12-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-03-01
ReturnHeader/TaxPeriodEndDt02024-02-28
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,401,696
Liabilities
$525,839
Net assets
$875,857
Revenue
$558,430
Expenses
$427,630
Net income
$130,800
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.44$0.43$1.00$0.58$0.45$0.13
2024Detailed filing. Detailed filing data is available for this year.$1.40$0.53$0.88$0.56$0.43$0.13
2024Summary only. Only limited summary data is available for this year.$1.40$0.53$0.88$0.56$0.43$0.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$0.47$0.77$0.54$0.40$0.14
2022Summary only. Only limited summary data is available for this year.$1.20$0.57$0.63$0.53$0.40$0.13
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.81$0.50$0.48$0.39$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.76$0.42$0.47$0.36$0.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$0.86$0.30$0.45$0.49$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.29$0.95$0.34$0.45$0.53$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$1.04$0.42$0.44$0.35$0.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$1.13$0.33$0.45$0.32$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.42$1.21$0.21$0.40$0.31$0.09
2014Summary only. Only limited summary data is available for this year.$1.41$0.00$1.41$0.40$0.37$0.03
2013Summary only. Only limited summary data is available for this year.$1.38$0.00$1.38$0.30$0.26$0.04
2012Summary only. Only limited summary data is available for this year.$1.35$0.00$1.35$0.41$0.40$0.00