Civic Intelligence

Centrelake Owners Association

990 • Fiscal year 2022 • EIN 33-0247894

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 20, 2023

Organization ProfileN/A
PO Box 52798Irvine, CA 92619

(949) 448-6300

Siviq Scores

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

Liabilities / Assets

67th percentile

0.02x

Higher debt load relative to assets than 67% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

71st percentile

0.05x

Higher debt load relative to revenue than 71% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Net Margin

36th percentile

-2.5%

Higher net margin than 36% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

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

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Asset Growth

65th percentile

8.7%

Faster asset growth than 65% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

32nd percentile

-3.4%

Faster revenue growth than 32% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$448,503

Up $35,765 (+8.7%) from 2021

Net Assets

Up

$438,492

Up $30,636 (+7.5%) from 2021

Liabilities

Up

$10,011

Up $5,129 (+105%) from 2021

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin36th percentile

Revenue

Down

$207,229

Down $7,248 (-3.4%) from 2021

Expenses

Down

$212,358

Down $7,263 (-3.3%) from 2021

Net Income

Up

-$5,129

Up $15 (+0.3%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$600K$400K$200K$0Assets 2014: $97,880Liabilities 2014: $0Net Assets 2014: $97,8802014Assets 2015: $131,995Liabilities 2015: $0Net Assets 2015: $131,9952015Assets 2016: $178,618Liabilities 2016: $0Net Assets 2016: $178,6182016Assets 2017: $214,461Liabilities 2017: $0Net Assets 2017: $214,4612017Assets 2018: $257,780Liabilities 2018: $0Net Assets 2018: $257,7802018Assets 2019: $253,320Liabilities 2019: $0Net Assets 2019: $253,3202019Assets 2020: $459,542Liabilities 2020: $0Net Assets 2020: $459,5422020Assets 2021: $412,738Liabilities 2021: $4,882Net Assets 2021: $407,8562021Assets 2022: $448,503Liabilities 2022: $10,011Net Assets 2022: $438,4922022Assets 2023: $440,742Liabilities 2023: $10,408Net Assets 2023: $430,3342023Assets 2024: $494,852Liabilities 2024: $12,127Net Assets 2024: $482,7252024

Highlighted filing

2022

Assets$448,503
Liabilities$10,011
Net Assets$438,492
Open 2022 Filing

Operations Trend

Revenue Growth32nd percentile

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

$300K$200K$100K$0-$100KRevenue 2014: $187,590Expenses 2014: $202,840Net Income 2014: -$15,2502014Revenue 2015: $194,604Expenses 2015: $190,218Net Income 2015: $4,3862015Revenue 2016: $177,139Expenses 2016: $177,140Net Income 2016: -$12016Revenue 2017: $175,673Expenses 2017: $182,732Net Income 2017: -$7,0592017Revenue 2018: $178,387Expenses 2018: $177,509Net Income 2018: $8782018Revenue 2019: $208,282Expenses 2019: $210,058Net Income 2019: -$1,7762019Revenue 2020: $196,093Expenses 2020: $201,228Net Income 2020: -$5,1352020Revenue 2021: $214,477Expenses 2021: $219,621Net Income 2021: -$5,1442021Revenue 2022: $207,229Expenses 2022: $212,358Net Income 2022: -$5,1292022Revenue 2023: $240,879Expenses 2023: $241,277Net Income 2023: -$3982023Revenue 2024: $232,906Expenses 2024: $234,625Net Income 2024: -$1,7192024

Highlighted filing

2022

Revenue$207,229
Expenses$212,358
Net Income-$5,129
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 20, 2023
Return Version
2022v5.0
Gross Receipts
$207,229
Mission and Program Overview

Mission

NONE

The specific and primary purposes of the association are to bring about civic betterments and social improvements by providing for the preservation and appearance of the development. The association owns and maintains lake and park areas covering 73 acres located in ontario, california. The park and lake areas are accessible to residents in the surrounding residential areas on an unrestricted basis. Among the general purposes of the association is to promote the common good, health, safety, and general welfare of the community. No grants are provided to others.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$412,738$448,503▲ $35,765
Total Assets$412,738$448,503▲ $35,765
Liabilities
Accounts Payable and Accrued Expenses$4,882$10,011▲ $5,129
Total Liabilities$4,882$10,011▲ $5,129
Net Assets / Fund Balance
Net Assets With Donor Restrictions$412,738$448,503▲ $35,765
Net Assets Without Donor Restrictions$-4,882$-10,011▼ $5,129
Total Net Assets Fund Balance$407,856$438,492▲ $30,636
Total Liabilities and Net Assets / Fund Balance$412,738$448,503▲ $35,765
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Michael RademakerCEO
Rakesh SethCFO
Tom HixsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$205,183
Program Service Revenue
$0
Investment Income
$2,046
Other Revenue
$0
Change in Net Assets
$-5,129
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$212,358
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 Management$11,742$11,742-$23,484
Insurance$3,877$6,601-$10,478
Office Expenses-$2,325-$2,325
Fees for Services Legal$703$1,197-$1,900
Other Expenses$800--$800
Fees for Services Accounting-$750-$750
Total Functional Expenses$189,743$22,615$0$212,358
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
Annual disclosure for covered persons
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
Yes
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

“The association uses the services of a management company to handle day to day operations of the development including collections, bill payments, owners assistance, etc. The board has the ultimate responsibility for authorizing payments, selecting vendors, and approving the budget.”

Form 990, Part VI, Section A, Line 6

“Upon purchase of a unit within the development, each owner becomes a member of the association.”

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

“The board of directors are voted upon by the membership at an annual meeting wich requires a quorum of 50% of the 18 voting members. Board members serve a 2 year term and come up for election in alternating cycles.”

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

“Dues increases in excess of 20% and special assessments in excess of 5% of the budget are subject to membership approval.”

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

“The tax return is delivered to the management company for presentation at the next board of director meeting. Upon review, a board member signs the returns as the association representative.”

Form 990, Part VI, Section B, Line 12C

“The association retains the services of a management company to monitor board activity and document the minutes of the board meetings. The management company provides the membership with candidate information in conjunction with election meetings.”

Form 990, Part VI, Section C, Line 19

“Upon close of escrow, new unit owners are provided with a copy of the association's governing documents. The conflict of interest policy and monthly financials are available upon request.”

Filing and Contact Details

Filer

Filer Name
Centrelake Owners Association
EIN
33-0247894
Phone
9494486300
Address
PO BOX 52798, IRVINE, CA 92619

Signing Officer

Name
Luis Juarez
Title
Director
Phone
7148383200
Signed
2023-03-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Rademaker
Formed
1987
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Cline Carroll & Bartell Llp
Address
9190 IRVINE CENTER DRIVE, IRVINE, CA 92618
Preparer
Joshua L Freitas
Phone
9494500555
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Members capital contr. To replacement funds (sec. 118) 38,946. Capital expenditures from replacement funds -3,181.”

Raw XML Appendix286 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/ActivityOrMissionDesc0THE SPECIFIC AND PRIMARY PURPOSES OF THE ASSOCIATION ARE TO BRING ABOUT CIVIC BETTERMENTS AND SOCIAL IMPROVEMENTS BY PROVIDING FOR THE PRESERVATION AND APPEARANCE OF THE DEVELOPMENT. THE ASSOCIATION OWNS AND MAINTAINS LAKE AND PARK AREAS COVERING 73 ACRES LOCATED IN ONTARIO, CALIFORNIA. THE PARK AND LAKE AREAS ARE ACCESSIBLE TO RESIDENTS IN THE SURROUNDING RESIDENTIAL AREAS ON AN UNRESTRICTED BASIS. AMONG THE GENERAL PURPOSES OF THE ASSOCIATION IS TO PROMOTE THE COMMON GOOD, HEALTH, SAFETY, AND GENERAL WELFARE OF THE COMMUNITY. NO GRANTS ARE PROVIDED TO OTHERS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION USES THE SERVICES OF A MANAGEMENT COMPANY TO HANDLE DAY TO DAY OPERATIONS OF THE DEVELOPMENT INCLUDING COLLECTIONS, BILL PAYMENTS, OWNERS ASSISTANCE, ETC. THE BOARD HAS THE ULTIMATE RESPONSIBILITY FOR AUTHORIZING PAYMENTS, SELECTING VENDORS, AND APPROVING THE BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON PURCHASE OF A UNIT WITHIN THE DEVELOPMENT, EACH OWNER BECOMES A MEMBER OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE VOTED UPON BY THE MEMBERSHIP AT AN ANNUAL MEETING WICH REQUIRES A QUORUM OF 50% OF THE 18 VOTING MEMBERS. BOARD MEMBERS SERVE A 2 YEAR TERM AND COME UP FOR ELECTION IN ALTERNATING CYCLES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DUES INCREASES IN EXCESS OF 20% AND SPECIAL ASSESSMENTS IN EXCESS OF 5% OF THE BUDGET ARE SUBJECT TO MEMBERSHIP APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE TAX RETURN IS DELIVERED TO THE MANAGEMENT COMPANY FOR PRESENTATION AT THE NEXT BOARD OF DIRECTOR MEETING. UPON REVIEW, A BOARD MEMBER SIGNS THE RETURNS AS THE ASSOCIATION REPRESENTATIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ASSOCIATION RETAINS THE SERVICES OF A MANAGEMENT COMPANY TO MONITOR BOARD ACTIVITY AND DOCUMENT THE MINUTES OF THE BOARD MEETINGS. THE MANAGEMENT COMPANY PROVIDES THE MEMBERSHIP WITH CANDIDATE INFORMATION IN CONJUNCTION WITH ELECTION MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON CLOSE OF ESCROW, NEW UNIT OWNERS ARE PROVIDED WITH A COPY OF THE ASSOCIATION'S GOVERNING DOCUMENTS. THE CONFLICT OF INTEREST POLICY AND MONTHLY FINANCIALS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MEMBERS CAPITAL CONTR. TO REPLACEMENT FUNDS (SEC. 118) 38,946. CAPITAL EXPENDITURES FROM REPLACEMENT FUNDS -3,181.
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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9:
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLINE CARROLL & BARTELL LLP
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ReturnHeader/ReturnTs02023-04-05T14:01:55-05:00
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$448,503
Liabilities
$10,011
Net assets
$438,492
Revenue
$207,229
Expenses
$212,358
Net income
-$5,129
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.95$0.12$4.83$2.33$2.35$0.02
2023Detailed filing. Detailed filing data is available for this year.$4.41$0.10$4.30$2.41$2.41$0.00
2022Detailed filing. Detailed filing data is available for this year.$4.49$0.10$4.38$2.07$2.12$0.05
2021Detailed filing. Detailed filing data is available for this year.$4.13$0.05$4.08$2.14$2.20$0.05
2020Detailed filing. Detailed filing data is available for this year.$4.60$0.00$4.60$1.96$2.01$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.53$0.00$2.53$2.08$2.10$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.58$0.00$2.58$1.78$1.78$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.14$0.00$2.14$1.76$1.83$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.79$0.00$1.79$1.77$1.77$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.32$0.00$1.32$1.95$1.90$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.98$0.00$0.98$1.88$2.03$0.15