Civic Intelligence

Inverness Forest Association Inc C/O Comsource Property Management

990 • Fiscal year 2018 • EIN 23-7162983

Jan 01, 2018 to Dec 31, 2018 • Filed on May 04, 2019

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

43rd percentile

0.03x

Higher debt load relative to assets than 43% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

63rd percentile

0.22x

Higher debt load relative to revenue than 63% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Net Margin

59th percentile

11%

Higher net margin than 59% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2018 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2018

Asset Growth

49th percentile

0.9%

Faster asset growth than 49% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

57th percentile

5.1%

Faster revenue growth than 57% of similar nonprofits.

2018 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$1,736,477

Up $14,885 (+0.9%) from 2017

Net Assets

Up

$1,681,957

Up $28,893 (+1.7%) from 2017

Liabilities

Down

$54,520

Down $14,008 (-20%) from 2017

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin59th percentile

Revenue

Up

$248,550

Up $12,118 (+5.1%) from 2017

Expenses

Up

$220,607

Up $46,334 (+27%) from 2017

Net Income

Down

$27,943

Down $34,216 (-55%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2018

Assets$1,736,477
Liabilities$54,520
Net Assets$1,681,957
Open 2018 Filing

Operations Trend

Revenue Growth57th 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

2018

Revenue$248,550
Expenses$220,607
Net Income$27,943
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 4, 2019
Return Version
2018v3.1
Gross Receipts
$248,550
Mission and Program Overview

Mission

To maintain homeowners common property

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,279,794$1,279,118▼ $676
Cash and Non-Interest-Bearing Accounts$438,221$452,910▲ $14,689
Accounts Receivable$428$2,538▲ $2,110
Prepaid Expenses and Deferred Charges$2,966$1,438▼ $1,528
Total Assets$1,721,592$1,736,477▲ $14,885
Other Assets Total$183$473▲ $290
Liabilities
Deferred Revenue$67,890$54,116▼ $13,774
Accounts Payable and Accrued Expenses$638$404▼ $234
Total Liabilities$68,528$54,520▼ $14,008
Net Assets / Fund Balance
Unrestricted Net Assets$1,335,795$1,345,708▲ $9,913
Temporarily Rstr Net Assets$317,269$336,249▲ $18,980
Total Net Assets Fund Balance$1,653,064$1,681,957▲ $28,893
Total Liabilities and Net Assets / Fund Balance$1,721,592$1,736,477▲ $14,885

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,273,859-$1,273,859
Leasehold Improvements$5,259$641,257$646,516
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
Bernal JimenezPresident
Chris DromerickDirector
Danny UhrDirector
Gino ParisiDirector
Glenna BernardDirector
Vanessa MoglinTreasurer
Sam DesouzaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$241,376
Investment Income
$4,850
Other Revenue
$2,324
Change in Net Assets
$27,943

Audited Revenue Reconciliation

Revenue per Audited Statements
$248,550
Total Revenue per Audited Statements
$248,550
Total Revenue per Form 990
$248,550
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$220,607
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-$38,251-$38,251
Insurance-$9,618-$9,618
Fees for Services Legal-$8,759-$8,759
All Other Expenses$4,763$2,429-$7,192
Other Expenses$5,075--$5,075
Office Expenses-$1,590-$1,590
Depreciation Depletion-$337-$337
Total Functional Expenses$159,623$60,984$0$220,607

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$220,608
Expenses per Audited Statements$220,607
Total Expenses per Form 990$220,607
Expenses Not Reported on Form 990$1
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
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
Bernal Jimenez
Title
President
Signed
2019-05-04

Organization Details

Principal Officer
Bernal Jimenez
Voting Board Members
7
Independent Board Members
7
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 38,251 0”

Form 990, Part XI, Line 9

“Prior period adjustment 950”

Financial Statement Notes

Schedule D, Page 3, Part X

“The association adopted the standard for accounting for uncertainty in income taxes, and the association recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit is recorded. Currently, the association accounts for contingencies associated with certain tax positions in accordance with fasb accounting standards codification 450, contingencies, which provides the recording of a contingency based on the probability of certain events to transpire that range from probable to remote as opposed to applying a more likely than not recognition threshold. The association has examined this issue and has determined there are no material contingent tax liabilities. The association's federal tax return is subject to audit by the internal revenue service. The tax returns for 2015 through 2017 remain open for examination by the irs. In evaluating the association's tax positions and accruals, the association believes that its estimates are appropriate based on the current facts and circumstances.”

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 1”

Raw XML Appendix332 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION ADOPTED THE STANDARD FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND THE ASSOCIATION RECOGNIZES A TAX BENEFIT ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX BENEFIT IS RECORDED. CURRENTLY, THE ASSOCIATION ACCOUNTS FOR CONTINGENCIES ASSOCIATED WITH CERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ACCOUNTING STANDARDS CODIFICATION 450, CONTINGENCIES, WHICH PROVIDES THE RECORDING OF A CONTINGENCY BASED ON THE PROBABILITY OF CERTAIN EVENTS TO TRANSPIRE THAT RANGE FROM PROBABLE TO REMOTE AS OPPOSED TO APPLYING A MORE LIKELY THAN NOT RECOGNITION THRESHOLD. THE ASSOCIATION HAS EXAMINED THIS ISSUE AND HAS DETERMINED THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES. THE ASSOCIATION'S FEDERAL TAX RETURN IS SUBJECT TO AUDIT BY THE INTERNAL REVENUE SERVICE. THE TAX RETURNS FOR 2015 THROUGH 2017 REMAIN OPEN FOR EXAMINATION BY THE IRS. IN EVALUATING THE ASSOCIATION'S TAX POSITIONS AND ACCRUALS, THE ASSOCIATION BELIEVES THAT ITS ESTIMATES ARE APPROPRIATE BASED ON THE CURRENT FACTS AND CIRCUMSTANCES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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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 38,251 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR PERIOD ADJUSTMENT 950
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0336249
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IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt060984
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0159623
IRS990/TotalFunctionalExpensesGrp/TotalAmt0220607
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt068528
IRS990/TotalLiabilitiesEOYAmt054520
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IRS990/TotalLiabilitiesGrp/EOYAmt054520
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IRS990/TotalProgramServiceRevenueAmt0241376
IRS990/TotalRevenueGrp/ExclusionAmt04850
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0243700
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0248550
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IRS990/VotingMembersIndependentCnt07
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BERNAL JIMENEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-04
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
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02019-09-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:42:07
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/PreparationDt02019-09-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALLEN P DELEON CPA
ReturnHeader/ReturnTs02019-09-16T11:42:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,736,477
Liabilities
$54,520
Net assets
$1,681,957
Revenue
$248,550
Expenses
$220,607
Net income
$27,943
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
2018Detailed filing. Detailed filing data is available for this year.$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