Civic Intelligence

Summit Community Association

990 • Fiscal year 2023 • EIN 33-0400250

Jan 01, 2023 to Dec 31, 2023 • Filed on May 31, 2024

Organization ProfileN/A
15241 Laguna Canyon RoadIrvine, CA 92618

(949) 448-6000

Siviq Scores

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

Liabilities / Assets

35th percentile

0.03x

Higher debt load relative to assets than 35% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.09x

Higher debt load relative to revenue than 38% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Net Margin

64th percentile

19%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

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

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Asset Growth

56th percentile

6.8%

Faster asset growth than 56% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

9.9%

Faster revenue growth than 57% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets35th percentile

Assets

Up

$7,326,584

Up $466,159 (+6.8%) from 2022

Net Assets

Up

$7,135,329

Up $412,460 (+6.1%) from 2022

Liabilities

Up

$191,255

Up $53,699 (+39%) from 2022

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin64th percentile

Revenue

Up

$2,220,314

Up $199,658 (+9.9%) from 2022

Expenses

Down

$1,807,854

Down $39,026 (-2.1%) from 2022

Net Income

Up

$412,460

Up $238,684 (+137%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2020: $6,395,290Liabilities 2020: $113,804Net Assets 2020: $6,281,4862020Assets 2021: $6,782,195Liabilities 2021: $233,102Net Assets 2021: $6,549,0932021Assets 2022: $6,860,425Liabilities 2022: $137,556Net Assets 2022: $6,722,8692022Assets 2023: $7,326,584Liabilities 2023: $191,255Net Assets 2023: $7,135,3292023Assets 2024: $7,773,212Liabilities 2024: $170,504Net Assets 2024: $7,602,7082024

Highlighted filing

2023

Assets$7,326,584
Liabilities$191,255
Net Assets$7,135,329
Open 2023 Filing

Operations Trend

Revenue Growth57th percentile

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

$3.0M$2.0M$1.0M$0Revenue 2020: $1,918,943Expenses 2020: $1,691,366Net Income 2020: $227,5772020Revenue 2021: $1,877,188Expenses 2021: $1,609,581Net Income 2021: $267,6072021Revenue 2022: $2,020,656Expenses 2022: $1,846,880Net Income 2022: $173,7762022Revenue 2023: $2,220,314Expenses 2023: $1,807,854Net Income 2023: $412,4602023Revenue 2024: $2,252,403Expenses 2024: $1,785,024Net Income 2024: $467,3792024

Highlighted filing

2023

Revenue$2,220,314
Expenses$1,807,854
Net Income$412,460
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 31, 2024
Return Version
2023v5.0
Gross Receipts
$2,220,314
Mission and Program Overview

Mission

Social improvements by providing for the preservation of the architecture and appearance of the community, and by owning, operating, and maintaining the properties for use of all residents in the entire community on certain real property located in anaheim hills, california. Among the general purposes is to promote the common good, health, safety, and general welfare of all residents within the community. The population of the association is approximately 3,700. No grants are provided to others. The association owns and maintains common areas surrounding a community park and horse trails. All facilities are available to residents and their guests on an unrestricted basis.

The association is obligated to maintain landscaping and common areas and parks accessible to the community and the general public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$6,644,740$7,051,304▲ $406,564
Cash and Non-Interest-Bearing Accounts$163,631$180,351▲ $16,720
Accounts Receivable$37,657$80,831▲ $43,174
Prepaid Expenses and Deferred Charges$14,397$14,098▼ $299
Total Assets$6,860,425$7,326,584▲ $466,159
Liabilities
Accounts Payable and Accrued Expenses$80,868$124,410▲ $43,542
Deferred Revenue$54,455$44,110▼ $10,345
Other Liabilities$2,233$22,735▲ $20,502
Total Liabilities$137,556$191,255▲ $53,699
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,102,320$5,470,935▲ $368,615
Net Assets Without Donor Restrictions$1,620,549$1,664,394▲ $43,845
Total Net Assets Fund Balance$6,722,869$7,135,329▲ $412,460
Total Liabilities and Net Assets / Fund Balance$6,860,425$7,326,584▲ $466,159
Compensation and Service Providers
Top Officer Pay42nd percentile

Board Members and Trustees

NameTitle
Majid MalekiPresident
Terry HesterMember at Large
William Van WinkleSecretary
Lawrence DickTreasurer
Steve FeitlinV.p.

Highest Paid Contractors

ContractorServicesLocationCompensation
O'connell LandscapeMonthly Landscape Service23091 ARROYO VISTA, Rsm, CA 92688$1,089,581
Firstservice ResidentialMonthly Management & Admin. Support15241 LAGUNA CANYON ROAD, Irvine, CA 92618$159,884
Revenue and Support

Revenue Composition

Contributions and Grants
$1,970,760
Program Service Revenue
$0
Investment Income
$235,376
Other Revenue
$14,178
Change in Net Assets
$412,460

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,835,830
Revenue Not Reported on Financial Statements
$384,484
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$384,484
Total Revenue per Audited Statements
$1,835,830
Total Revenue per Form 990
$2,220,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,807,854
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
All Other Expenses$113,484$51,371-$164,855
Fees for Services Management-$117,763-$117,763
Insurance$65,821--$65,821
Other Expenses$35,047$62,019-$35,047
Fees for Services Legal-$23,637-$23,637
Fees for Services Accounting-$2,348-$2,348
Total Functional Expenses$1,550,716$257,138$0$1,807,854

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,807,854
Expenses per Audited Statements$1,791,985
Total Expenses per Audited Statements$1,791,985
Expenses Not Reported on Financial Statements$15,869
Other Expense Adjustments$15,869
Expenses Not Reported on Form 990$0
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
In-house lobbying only
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Income Taxes Payable$22,735
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 used the services of merit property management (from sept. 2010 to present) to handle day to day operations of the development including collections, bill payments, homeowner 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 home with 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 which requires a quorum of 50% of the 1,493 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 the 20% allowed by the davis-sterling act are subject to approval of the membership. Special assessments in excess of 5% of the budget are also subject to membership approval.”

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

“Upon preparation, a copy of form 990 is provided to the association's board of directors for review. Upon approval, the board's treasurer signs the return as board representative and mails the form to the ogden, ut processing center.”

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 purchase of a home within the development, each owner receives a copy of the association's governing documents through escrow. Copies of the conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Summit Community Association
EIN
33-0400250
Phone
9494486000
Address
15241 LAGUNA CANYON ROAD, IRVINE, CA 92618

Signing Officer

Name
Majid Maleki
Title
President
Phone
9494486000
Signed
2024-05-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Majid Maleki
Formed
1989
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Owens Moskowitz and Associates Inc
Address
27792 EL LAZO, LAGUNA NIGUEL, CA 92677
Preparer
Robert a Owens CPA
Phone
9498515020
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Change in deferred assessments per fasb 606 bad debt shown as contra income on audit”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Bad debt shown as contra income on audit”

Raw XML Appendix349 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 ASSOCIATION USED THE SERVICES OF MERIT PROPERTY MANAGEMENT (FROM SEPT. 2010 TO PRESENT) TO HANDLE DAY TO DAY OPERATIONS OF THE DEVELOPMENT INCLUDING COLLECTIONS, BILL PAYMENTS, HOMEOWNER ASSISTANCE, ETC. THE BOARD HAS THE ULTIMATE RESPONSIBILITY FOR AUTHORIZING PAYMENTS, SELECTING VENDORS, AND APPROVING THE BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON PURCHASE OF A HOME WITH 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 WHICH REQUIRES A QUORUM OF 50% OF THE 1,493 VOTING MEMBERS. BOARD MEMBERS SERVE A 2 YEAR TERM AND COME UP FOR ELECTION IN ALTERNATING CYCLES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DUES INCREASES IN EXCESS OF THE 20% ALLOWED BY THE DAVIS-STERLING ACT ARE SUBJECT TO APPROVAL OF THE MEMBERSHIP. SPECIAL ASSESSMENTS IN EXCESS OF 5% OF THE BUDGET ARE ALSO SUBJECT TO MEMBERSHIP APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON PREPARATION, A COPY OF FORM 990 IS PROVIDED TO THE ASSOCIATION'S BOARD OF DIRECTORS FOR REVIEW. UPON APPROVAL, THE BOARD'S TREASURER SIGNS THE RETURN AS BOARD REPRESENTATIVE AND MAILS THE FORM TO THE OGDEN, UT PROCESSING CENTER.
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 PURCHASE OF A HOME WITHIN THE DEVELOPMENT, EACH OWNER RECEIVES A COPY OF THE ASSOCIATION'S GOVERNING DOCUMENTS THROUGH ESCROW. COPIES OF THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06860425
IRS990/TotalAssetsEOYAmt07326584
IRS990/TotalAssetsGrp/BOYAmt06860425
IRS990/TotalAssetsGrp/EOYAmt07326584
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01970760
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0257138
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01550716
IRS990/TotalFunctionalExpensesGrp/TotalAmt01807854
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0137556
IRS990/TotalLiabilitiesEOYAmt0191255
IRS990/TotalLiabilitiesGrp/BOYAmt0137556
IRS990/TotalLiabilitiesGrp/EOYAmt0191255
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06722869
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07135329
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01550716
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0249554
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02220314
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06860425
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07326584
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015241 LAGUNA CANYON ROAD
IRS990/USAddress/CityNm0IRVINE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092618
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MAJID MALEKI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09494486000
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUMMIT COMMUNITY ASSOCIATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O FIRSTSERVICE RESIDENTIAL
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0330400250
ReturnHeader/Filer/PhoneNum09494486000
ReturnHeader/Filer/USAddress/AddressLine1Txt015241 LAGUNA CANYON ROAD
ReturnHeader/Filer/USAddress/CityNm0IRVINE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092618
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0330244756
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OWENS MOSKOWITZ AND ASSOCIATES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt027792 EL LAZO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAGUNA NIGUEL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092677
ReturnHeader/PreparerPersonGrp/PhoneNum09498515020
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT A OWENS CPA
ReturnHeader/ReturnTs02024-06-05T13:25:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MAJID
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MALEKI
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,326,584
Liabilities
$191,255
Net assets
$7,135,329
Revenue
$2,220,314
Expenses
$1,807,854
Net income
$412,460
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.77$0.17$7.60$2.25$1.79$0.47
2023Detailed filing. Detailed filing data is available for this year.$7.33$0.19$7.14$2.22$1.81$0.41
2022Detailed filing. Detailed filing data is available for this year.$6.86$0.14$6.72$2.02$1.85$0.17
2021Detailed filing. Detailed filing data is available for this year.$6.78$0.23$6.55$1.88$1.61$0.27
2020Detailed filing. Detailed filing data is available for this year.$6.40$0.11$6.28$1.92$1.69$0.23