Civic Intelligence

Inverness Forest Association Inc C/O Comsource Property Management

990 • Fiscal year 2020 • EIN 23-7162983

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 29, 2021

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

(301) 924-7355

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$568,638

Flat from 2020

Net Assets

Flat

$503,789

Flat from 2020

Liabilities

Flat

$64,849

Flat from 2020

Revenue And Expenses

Revenue

Flat

$261,922

Flat from 2020

Expenses

Up

$246,935

Up $10,017 (+4.2%) from 2020

Net Income

Down

$14,987

Down $10,017 (-40%) from 2020

Historical Trend

Balance Sheet Trend

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 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

2020

Assets$568,638
Liabilities$64,849
Net Assets$503,789
Open 2020 Filing

Operations Trend

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: $246,935Net Income 2020: $14,9872020Revenue 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

2020

Revenue$261,922
Expenses$246,935
Net Income$14,987
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 29, 2021
Return Version
2020v4.0
Gross Receipts
$261,922
Mission and Program Overview

Mission

To maintain homeowners common property

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$535,735$562,198▲ $26,463
Accounts Receivable$7,621$4,759▼ $2,862
Prepaid Expenses and Deferred Charges$3,006$1,681▼ $1,325
Total Assets$546,362$568,638▲ $22,276
Liabilities
Deferred Revenue$67,170$64,276▼ $2,894
Accounts Payable and Accrued Expenses$407$559▲ $152
Other Liabilities-$14-
Total Liabilities$67,577$64,849▼ $2,728
Net Assets / Fund Balance
Net Assets With Donor Restrictions$405,516$415,534▲ $10,018
Net Assets Without Donor Restrictions$73,269$88,255▲ $14,986
Total Net Assets Fund Balance$478,785$503,789▲ $25,004
Total Liabilities and Net Assets / Fund Balance$546,362$568,638▲ $22,276
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bernal JimenezPresident
Chris DromerickMember at La
Gino ParisiMember at La
Penny KahnMember at La
Danny UhrSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$256,178
Investment Income
$3,441
Other Revenue
$2,303
Change in Net Assets
$14,987

Audited Revenue Reconciliation

Revenue per Audited Statements
$261,922
Total Revenue per Audited Statements
$261,922
Total Revenue per Form 990
$261,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$246,935
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-$39,897-$39,897
All Other Expenses$26,250$5,539-$31,789
Other Expenses$13,019--$13,019
Insurance-$5,869-$5,869
Fees for Services Accounting-$4,600-$4,600
Fees for Services Legal-$2,137-$2,137
Office Expenses-$1,986-$1,986
Information Technology-$80-$80
Total Functional Expenses$186,827$60,108$0$246,935

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$246,935
Total Expenses per Audited Statements$246,935
Total Expenses per Form 990$246,935
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 Exepenses$14
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

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
2021-10-29

Organization Details

Principal Officer
Bernal Jimenez
Formed
1969
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
10

Preparer

Firm
Deleon & Stang Cpas and Advisors
Address
100 LAKEFOREST BLVD STE 650, GAITHERSBURG, MD 20877-2609
Preparer
Ryan Crabbs 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 39,897 0”

Form 990, Part IX, Line 24E

“Property tax 11,740 0 0 snow removal reserves 8,280 0 0 electricity 4,710 0 0 miscellaneous 0 3,431 0 community expenses 1,520 0 0 bad debt recoveries 0 1,324 0 bank service charges 0 784 0 total 26,250 5,539 0”

Form 990, Part XI, Line 9

“Prior period adjustment 10,017”

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ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RYAN CRABBS CPA
ReturnHeader/ReturnTs02021-11-09T11:55:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BERNAL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JIMENEZ
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$568,638
Liabilities
$64,849
Net assets
$503,789
Revenue
$261,922
Expenses
$246,935
Net income
$14,987
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
2020Detailed filing. Detailed filing data is available for this year.$0.57$0.06$0.50$0.26$0.25$0.01
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