Civic Intelligence

Inverness Forest Association Inc C/O Comsource Property Management

990 • Fiscal year 2014 • EIN 23-7162983

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 25, 2015

Organization ProfileWWW.INVERNESSVILLAGE.ORG
3414 Morningwood DrOlney, MD 20832

(301) 924-7355

Siviq Scores

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

Liabilities / Assets

39th percentile

0.04x

Higher debt load relative to assets than 39% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

60th percentile

0.28x

Higher debt load relative to revenue than 60% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Net Margin

9th percentile

-27%

Higher net margin than 9% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Asset Growth

37th percentile

-0.5%

Faster asset growth than 37% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

52nd percentile

3.0%

Faster revenue growth than 52% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets39th percentile

Assets

Down

$1,693,114

Down $8,408 (-0.5%) from 2013

Net Assets

Down

$1,632,773

Down $58,359 (-3.5%) from 2013

Liabilities

Up

$60,341

Up $49,951 (+481%) from 2013

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin9th percentile

Revenue

Up

$217,728

Up $6,322 (+3.0%) from 2013

Expenses

Up

$276,087

Up $17,355 (+6.7%) from 2013

Net Income

Down

-$58,359

Down $11,033 (-23%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $1,789,410Liabilities 2012: $50,952Net Assets 2012: $1,738,4582012Assets 2013: $1,701,522Liabilities 2013: $10,390Net Assets 2013: $1,691,1322013Assets 2014: $1,693,114Liabilities 2014: $60,341Net Assets 2014: $1,632,7732014Assets 2015: $1,677,139Liabilities 2015: $62,388Net Assets 2015: $1,614,7512015Assets 2016: $1,680,441Liabilities 2016: $75,831Net Assets 2016: $1,604,6102016Assets 2017: $1,721,592Liabilities 2017: $68,528Net Assets 2017: $1,653,0642017Assets 2018: $1,736,477Liabilities 2018: $54,520Net Assets 2018: $1,681,9572018Assets 2019: $546,362Liabilities 2019: $67,577Net Assets 2019: $478,7852019Assets 2020: $568,638Liabilities 2020: $64,849Net Assets 2020: $503,7892020Assets 2021: $631,650Liabilities 2021: $59,707Net Assets 2021: $571,9432021Assets 2022: $643,578Liabilities 2022: $68,801Net Assets 2022: $574,7772022Assets 2023: $681,914Liabilities 2023: $90,429Net Assets 2023: $591,4852023Assets 2024: $734,412Liabilities 2024: $82,924Net Assets 2024: $651,4882024

Highlighted filing

2014

Assets$1,693,114
Liabilities$60,341
Net Assets$1,632,773
Open 2014 Filing

Operations Trend

Revenue Growth52nd percentile

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

$400K$200K$0-$200KExpenses 2012: $391,4462012Revenue 2013: $211,406Expenses 2013: $258,732Net Income 2013: -$47,3262013Revenue 2014: $217,728Expenses 2014: $276,087Net Income 2014: -$58,3592014Revenue 2015: $223,907Expenses 2015: $241,929Net Income 2015: -$18,0222015Revenue 2016: $229,450Expenses 2016: $239,591Net Income 2016: -$10,1412016Revenue 2017: $236,432Expenses 2017: $174,273Net Income 2017: $62,1592017Revenue 2018: $248,550Expenses 2018: $220,607Net Income 2018: $27,9432018Revenue 2019: $258,684Expenses 2019: $182,738Net Income 2019: $75,9462019Revenue 2020: $261,922Expenses 2020: $236,918Net Income 2020: $25,0042020Revenue 2021: $269,059Expenses 2021: $200,905Net Income 2021: $68,1542021Revenue 2022: $275,951Expenses 2022: $273,117Net Income 2022: $2,8342022Revenue 2023: $291,307Expenses 2023: $268,609Net Income 2023: $22,6982023Revenue 2024: $306,659Expenses 2024: $264,205Net Income 2024: $42,4542024

Highlighted filing

2014

Revenue$217,728
Expenses$276,087
Net Income-$58,359
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 25, 2015
Return Version
2014v5.0
Gross Receipts
$217,728
Mission and Program Overview

Mission

To maintain homeowners common property

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,280,806$1,280,468▼ $338
Savings and Temporary Cash Investments$310,697$380,133▲ $69,436
Cash and Non-Interest-Bearing Accounts$105,146$22,725▼ $82,421
Accounts Receivable$2,098$6,968▲ $4,870
Prepaid Expenses and Deferred Charges$2,760$2,805▲ $45
Total Assets$1,701,522$1,693,114▼ $8,408
Other Assets Total$15$15→ $0
Liabilities
Accounts Payable and Accrued Expenses$6,372$57,010▲ $50,638
Other Liabilities$4,018$3,331▼ $687
Total Liabilities$10,390$60,341▲ $49,951
Net Assets / Fund Balance
Unrestricted Net Assets$1,387,028$1,395,169▲ $8,141
Temporarily Rstr Net Assets$304,104$237,604▼ $66,500
Total Net Assets Fund Balance$1,691,132$1,632,773▼ $58,359
Total Liabilities and Net Assets / Fund Balance$1,701,522$1,693,114▼ $8,408

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,273,859-$1,273,859
Leasehold Improvements$6,609$639,907$646,516
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Evan FosterPresident
Chris DromerickDirector
Gino ParisiDirector
Glenna BernardDirector
James UlrichDirector
Penny KahnDirector
Bernal JimenezSecretary
David KellyTreasurer
Sharlene ShugarmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$214,016
Investment Income
$93
Other Revenue
$3,619
Change in Net Assets
$-58,359

Audited Revenue Reconciliation

Revenue per Audited Statements
$217,728
Total Revenue per Audited Statements
$217,728
Total Revenue per Form 990
$217,728
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$276,087
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$35,986-$35,986
Insurance-$7,738-$7,738
All Other Expenses$4,047$2,930-$6,977
Fees for Services Legal-$6,088-$6,088
Other Expenses$4,626--$4,626
Fees for Services Accounting-$3,590-$3,590
Office Expenses-$1,675-$1,675
Depreciation Depletion-$338-$338
Total Functional Expenses$217,742$58,345$0$276,087

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$276,087
Total Expenses per Audited Statements$276,087
Total Expenses per Form 990$276,087
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Assessments$3,331
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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

Form 990, Page 6, Part VI, Line 11B

“The treasurer will review the form 990 for accuracy and then forward it to the rest of the board for approval.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Inverness Forest Association Inc
EIN
23-7162983
Address
3414 MORNINGWOOD DR, OLNEY, MD 20832

Signing Officer

Name
Evan Foster
Title
President
Signed
2015-08-25

Organization Details

Principal Officer
Evan Foster
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Deleon & Stang Cpas and Advisors
Address
100 LAKEFOREST BLVD STE 650, GAITHERSBURG, MD 20877-2609
Preparer
Allen P Deleon CPA
Phone
3019489825
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“The volunteers help in overlooking the daily operations of the organization. The volunteers do not receive any benefits or compensation.”

Form 990, Part IX, Line 11G

“Management fees 0 33,986 0 professional fees 0 2,000 0”

Raw XML Appendix330 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE VOLUNTEERS HELP IN OVERLOOKING THE DAILY OPERATIONS OF THE ORGANIZATION. THE VOLUNTEERS DO NOT RECEIVE ANY BENEFITS OR COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER WILL REVIEW THE FORM 990 FOR ACCURACY AND THEN FORWARD IT TO THE REST OF THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT FEES 0 33,986 0 PROFESSIONAL FEES 0 2,000 0
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IRS990/TotalAssetsGrp/EOYAmt01693114
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt058345
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0217742
IRS990/TotalFunctionalExpensesGrp/TotalAmt0276087
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010390
IRS990/TotalLiabilitiesEOYAmt060341
IRS990/TotalLiabilitiesGrp/BOYAmt010390
IRS990/TotalLiabilitiesGrp/EOYAmt060341
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01691132
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01632773
IRS990/TotalProgramServiceExpensesAmt0217742
IRS990/TotalProgramServiceRevenueAmt0214016
IRS990/TotalRevenueGrp/ExclusionAmt093
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0217635
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0217728
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01701522
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01693114
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01387028
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01395169
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03414 MORNINGWOOD DR
IRS990/USAddress/CityNm0OLNEY
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd020832
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.INVERNESSVILLAGE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/PersonNm0EVAN FOSTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INVERNESS FOREST ASSOCIATION INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O COMSOURCE PROPERTY MANAGEMENT
ReturnHeader/Filer/BusinessNameControlTxt0INVE
ReturnHeader/Filer/EIN0237162983
ReturnHeader/Filer/USAddress/AddressLine1Txt03414 MORNINGWOOD DR
ReturnHeader/Filer/USAddress/CityNm0OLNEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020832
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521373858
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DELEON & STANG CPAS AND ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 LAKEFOREST BLVD STE 650
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GAITHERSBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0208772609
ReturnHeader/PreparerPersonGrp/PhoneNum03019489825
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALLEN P DELEON CPA
ReturnHeader/ReturnTs02015-09-21T11:53:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,693,114
Liabilities
$60,341
Net assets
$1,632,773
Revenue
$217,728
Expenses
$276,087
Net income
-$58,359
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.08$0.65$0.31$0.26$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$0.09$0.59$0.29$0.27$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.07$0.57$0.28$0.27$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.63$0.06$0.57$0.27$0.20$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.06$0.50$0.26$0.24$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.07$0.48$0.26$0.18$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.74$0.05$1.68$0.25$0.22$0.03
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$0.07$1.65$0.24$0.17$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.68$0.08$1.60$0.23$0.24$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.68$0.06$1.61$0.22$0.24$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.69$0.06$1.63$0.22$0.28$0.06
2013Detailed filing. Detailed filing data is available for this year.$1.70$0.01$1.69$0.21$0.26$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.05$1.74$0.39
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)4 • $1M-$5M nonprofits