Civic Intelligence

Somerset Place Association Inc

EIN 23-7321056 • 501(c)4 • Houston, TX

Profile

Provide maintenance, preservation and architectual control of the residence lots

12625 Memorial Drive 14Houston, TX 77024

www.somersetplace.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

2.58x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

2.25x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Net Margin

80th percentile

31%

Higher net margin than 80% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

501(c)4 • $500k-$1M nonprofits • Source year 2024

Asset Growth

61st percentile

7.2%

Faster asset growth than 61% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

39th percentile

0.9%

Faster revenue growth than 39% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$799,573

Up $53,968 (+7.2%) from 2023

Liabilities

Up

$2,066,191

Up $1,904,677 (+1179%) from 2023

Net Assets

Down

-$1,266,618

Down $1,850,709 (-317%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin80th percentile

Revenue

Up

$919,157

Up $8,386 (+0.9%) from 2023

Expenses

Up

$633,388

Up $84,154 (+15%) from 2023

Net Income

Down

$285,769

Down $75,768 (-21%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth61st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2015: $464,031Liabilities 2015: $204,660Net Assets 2015: $259,3712015Assets 2016: $432,738Liabilities 2016: $290,571Net Assets 2016: $142,1672016Assets 2017: $384,533Liabilities 2017: $617,970Net Assets 2017: -$233,4372017Assets 2018: $220,469Liabilities 2018: $1,081,620Net Assets 2018: -$861,1512018Assets 2019: $92,163Liabilities 2019: $1,703,505Net Assets 2019: -$1,611,3422019Assets 2020: $354,618Liabilities 2020: $2,628,349Net Assets 2020: -$2,273,7312020Assets 2021: $356,367Liabilities 2021: $236,739Net Assets 2021: $119,6282021Assets 2022: $389,541Liabilities 2022: $161,801Net Assets 2022: $227,7402022Assets 2023: $745,605Liabilities 2023: $161,514Net Assets 2023: $584,0912023Assets 2024: $799,573Liabilities 2024: $2,066,191Net Assets 2024: -$1,266,6182024

Highlighted filing

2024

Assets$799,573
Liabilities$2,066,191
Net Assets-$1,266,618
Open 2024 Filing

Operations Trend

Revenue Growth39th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2015: $517,872Expenses 2015: $437,487Net Income 2015: $80,3852015Revenue 2016: $528,061Expenses 2016: $645,265Net Income 2016: -$117,2042016Revenue 2017: $563,616Expenses 2017: $939,220Net Income 2017: -$375,6042017Revenue 2018: $611,541Expenses 2018: $1,239,255Net Income 2018: -$627,7142018Revenue 2019: $654,443Expenses 2019: $1,404,634Net Income 2019: -$750,1912019Revenue 2020: $711,951Expenses 2020: $1,374,340Net Income 2020: -$662,3892020Revenue 2021: $610,603Expenses 2021: $601,233Net Income 2021: $9,3702021Revenue 2022: $619,493Expenses 2022: $592,063Net Income 2022: $27,4302022Revenue 2023: $910,771Expenses 2023: $549,234Net Income 2023: $361,5372023Revenue 2024: $919,157Expenses 2024: $633,388Net Income 2024: $285,7692024

Highlighted filing

2024

Revenue$919,157
Expenses$633,388
Net Income$285,769
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$799,573
Liabilities
$2,066,191
Net assets
-$1,266,618
Revenue
$919,157
Expenses
$633,388
Net income
$285,769
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$2.07$1.27$0.92$0.63$0.29
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.16$0.58$0.91$0.55$0.36
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.16$0.23$0.62$0.59$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.36$0.24$0.12$0.61$0.60$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$2.63$2.27$0.71$1.37$0.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$1.70$1.61$0.65$1.40$0.75
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$1.08$0.86$0.61$1.24$0.63
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.62$0.23$0.56$0.94$0.38
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.43$0.29$0.14$0.53$0.65$0.12
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.20$0.26$0.52$0.44$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 28, 2025
Return Version
2024v5.2
Gross Receipts
$919,157
Mission and Program Overview

Mission

To provide for maintenance, preservation and architectural control of the residence lots and common area, and to promote health, safety and welfare of the residents within the property.

Civic & social welfare organization - promoting the common good and general welfare of the public and community through the maintenance and management of the association and the property, and providing services to the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$245,000$773,448▲ $528,448
Accounts Receivable$7,447$12,999▲ $5,552
Prepaid Expenses and Deferred Charges$6,862$9,246▲ $2,384
Cash and Non-Interest-Bearing Accounts$437,621$3,880▼ $433,741
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Rtn Earn Endowment Incm Other Fnds$584,091$-1,266,618▼ $1,850,709
Total Assets$745,605$799,573▲ $53,968
Other Assets Total$48,675$0▼ $48,675
Liabilities
Other Liabilities$-79,337$1,758,663▲ $1,838,000
Deferred Revenue$239,235$278,298▲ $39,063
Accounts Payable and Accrued Expenses$1,616$29,230▲ $27,614
Total Liabilities$161,514$2,066,191▲ $1,904,677
Net Assets / Fund Balance
Total Net Assets Fund Balance$584,091$-1,266,618▼ $1,850,709
Total Liabilities and Net Assets / Fund Balance$745,605$799,573▲ $53,968
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Jim MucklePresident
Alex CornelioVice President
Jose KongVice President
John ParkerSecretary
Yichieh ChangTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$877,580
Investment Income
$41,577
Other Revenue
$0
Change in Net Assets
$285,769
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$633,388
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
Interest$76,514--$76,514
All Other Expenses$44,233--$44,233
Occupancy$42,094--$42,094
Other Expenses$23,280--$23,280
Insurance$18,177--$18,177
Office Expenses-$8,729-$8,729
Fees for Services Legal$3,488--$3,488
Total Functional Expenses$624,659$8,729$0$633,388
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note payable- bank loan$1,758,663
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Association management and accounting”

Form 990, Part VI, Section A, Line 6

“HOMEOWNER MEMBERS”

Form 990, Part VI, Section A, Line 7A

“Election by homeowner members to volunteer board.”

Form 990, Part VI, Section A, Line 7B

“Approval of certain specified major actions.”

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“Various documents filed publicly and available by website.”

Filing and Contact Details

Filer

Filer Name
Somerset Place Association Inc
EIN
23-7321056
Phone
8325410774
Address
12625 MEMORIAL DRIVE 14, HOUSTON, TX 77024

Signing Officer

Name
Jim Muckle
Title
President
Signed
2025-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Muckle
Formed
1973
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
0
Employees
0

Preparer

Firm
Albarado & Friery LLC
Address
6060 Richmond Ste 301, Houston, TX 77057
Preparer
Scott B Friery
Phone
7139745515
Raw XML Appendix346 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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IRS990/PYRevenuesLessExpensesAmt0361537
IRS990/PYTotalExpensesAmt0549234
IRS990/PYTotalRevenueAmt0910771
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0285769
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0584091
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-1266618
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0245000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0773448
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01758663
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Note payable- bank loan
IRS990ScheduleD/TotalLiabilityAmt01758663
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASSOCIATION MANAGEMENT AND ACCOUNTING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1HOMEOWNER MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELECTION BY HOMEOWNER MEMBERS TO VOLUNTEER BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3APPROVAL OF CERTAIN SPECIFIED MAJOR ACTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Various documents filed publicly and available by website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0745605
IRS990/TotalAssetsEOYAmt0799573
IRS990/TotalAssetsGrp/BOYAmt0745605
IRS990/TotalAssetsGrp/EOYAmt0799573
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08729
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0624659
IRS990/TotalFunctionalExpensesGrp/TotalAmt0633388
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0161514
IRS990/TotalLiabilitiesEOYAmt02066191
IRS990/TotalLiabilitiesGrp/BOYAmt0161514
IRS990/TotalLiabilitiesGrp/EOYAmt02066191
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0584091
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1266618
IRS990/TotalProgramServiceExpensesAmt0624659
IRS990/TotalProgramServiceRevenueAmt0877580
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0919157
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0919157
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0745605
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0799573
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012625 MEMORIAL DRIVE 14
IRS990/USAddress/CityNm0HOUSTON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077024
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.somersetplace.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM MUCKLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOMERSET PLACE ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SOME
ReturnHeader/Filer/EIN0237321056
ReturnHeader/Filer/PhoneNum08325410774
ReturnHeader/Filer/USAddress/AddressLine1Txt012625 MEMORIAL DRIVE 14
ReturnHeader/Filer/USAddress/CityNm0HOUSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077024
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0993910578
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Albarado & Friery LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06060 Richmond Ste 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Houston
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077057
ReturnHeader/PreparerPersonGrp/PhoneNum07139745515
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Scott B Friery
ReturnHeader/ReturnTs02025-10-28T10:51:14-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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