Civic Intelligence

Foothills Reserve Master Owners'

990 • Fiscal year 2022 • EIN 48-1260769

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 12, 2023

Organization ProfileWWW.FOOTHILLSRESERVE.ORG
16625 S Desert Foothills ParkwayPhoenix, AZ 85048

(480) 759-4945

Siviq Scores

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

Liabilities / Assets

70th percentile

0.21x

Higher debt load relative to assets than 70% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

2.90x

Higher debt load relative to revenue than 94% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

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

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Asset Growth

83rd percentile

24%

Faster asset growth than 83% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

60th percentile

11%

Faster revenue growth than 60% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$4,734,296

Up $920,045 (+24%) from 2021

Net Assets

Down

$3,746,803

Down $42,769 (-1.1%) from 2021

Liabilities

Up

$987,493

Up $962,814 (+3901%) from 2021

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin18th percentile

Revenue

Up

$340,312

Up $32,426 (+11%) from 2021

Expenses

Down

$383,081

Down $132,555 (-26%) from 2021

Net Income

Up

-$42,769

Up $164,981 (+79%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$6.0M$4.0M$2.0M$0Assets 2017: $224,301Liabilities 2017: $0Net Assets 2017: $224,3012017Assets 2018: $5,261,455Liabilities 2018: $34,483Net Assets 2018: $5,226,9722018Assets 2019: $4,619,420Liabilities 2019: $31,798Net Assets 2019: $4,587,6222019Assets 2020: $4,030,393Liabilities 2020: $33,051Net Assets 2020: $3,997,3422020Assets 2021: $3,814,251Liabilities 2021: $24,679Net Assets 2021: $3,789,5722021Assets 2022: $4,734,296Liabilities 2022: $987,493Net Assets 2022: $3,746,8032022Assets 2023: $4,387,350Liabilities 2023: $655,424Net Assets 2023: $3,731,9262023Assets 2024: $3,988,947Liabilities 2024: $679,994Net Assets 2024: $3,308,9532024

Highlighted filing

2022

Assets$4,734,296
Liabilities$987,493
Net Assets$3,746,803
Open 2022 Filing

Operations Trend

Revenue Growth60th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $272,538Expenses 2017: $220,241Net Income 2017: $52,2972017Revenue 2018: $5,370,107Expenses 2018: $367,436Net Income 2018: $5,002,6712018Revenue 2019: $289,684Expenses 2019: $929,034Net Income 2019: -$639,3502019Revenue 2020: $354,894Expenses 2020: $945,174Net Income 2020: -$590,2802020Revenue 2021: $307,886Expenses 2021: $515,636Net Income 2021: -$207,7502021Revenue 2022: $340,312Expenses 2022: $383,081Net Income 2022: -$42,7692022Revenue 2023: $326,713Expenses 2023: $356,657Net Income 2023: -$29,9442023Revenue 2024: $400,511Expenses 2024: $823,484Net Income 2024: -$422,9732024

Highlighted filing

2022

Revenue$340,312
Expenses$383,081
Net Income-$42,769
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 12, 2023
Return Version
2022v5.0
Gross Receipts
$340,312
Mission and Program Overview

Mission

To protect and maintain the overall aesthetics of the community and to provide recreational activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,062,462$2,937,915▲ $875,453
Investments Other Securities$1,334,000$1,334,000→ $0
Savings and Temporary Cash Investments$417,789$462,381▲ $44,592
Total Assets$3,814,251$4,734,296▲ $920,045
Liabilities
Other Liabilities$0$960,349▲ $960,349
Deferred Revenue$24,679$27,144▲ $2,465
Total Liabilities$24,679$987,493▲ $962,814
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,789,572$3,746,803▼ $42,769
Total Net Assets Fund Balance$3,789,572$3,746,803▼ $42,769
Total Liabilities and Net Assets / Fund Balance$3,814,251$4,734,296▲ $920,045

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,334,000--
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Dennis SchlueterPresident
John StremVice President
Andrew AbrahamDirector
Anna WhittonDirector
Rabin HaddenDirector
Randy GallagherDirector
Sheryl Rangel-gethnerDirector
Aaron HinmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$272,261
Investment Income
$56,350
Other Revenue
$11,701
Change in Net Assets
$-42,769

Audited Revenue Reconciliation

Revenue per Audited Statements
$340,312
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$340,312
Total Revenue per Form 990
$340,312
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,081
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
Occupancy$33,476--$33,476
Fees for Services Legal$24,355--$24,355
Fees for Services Management$24,000--$24,000
Other Expenses$20,283$38,792-$20,283
All Other Expenses$18,180--$18,180
Insurance$6,739--$6,739
Fees for Services Accounting-$5,025-$5,025
Office Expenses-$4,724-$4,724
Information Technology-$420-$420
Total Functional Expenses$334,120$48,961$0$383,081

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$383,081
Total Expenses per Audited Statements$383,081
Total Expenses per Form 990$383,081
Expenses Not Reported on Financial Statements$0
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Adot Homeowner Settlement Pass-through Liability$960,349
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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

“The association has obtained the services of a residential property management company to manage the affairs of the association.”

Form 990, Part VI, Section A, Line 6

“Each unit owner within the homeowners association is a member of the organization.”

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

“Homeowners elect officers and board members for the association.”

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

“Any substantial changes to the organizational documents are approved by the general membership of the community.”

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

“The governing body is provided a copy of the form 990 for review and signature before it is filed.”

Form 990, Part VI, Section C, Line 19

“The association makes its governing documents, conflict of interest policy and financial statements available through its onsite administrative office. No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
FOOTHILLS RESERVE MASTER OWNERS'
EIN
48-1260769
Phone
4807594945
Address
16625 S DESERT FOOTHILLS PARKWAY, PHOENIX, AZ 85048

Signing Officer

Name
Dennis S
Title
President
Phone
4807594945
Signed
2023-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Schlueter
Formed
2000
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
8

Preparer

Firm
Butler Hansen Plc
Address
1734 EAST BOSTON STREET STE 101, GILBERT, AZ 85295
Preparer
Paul E Hansen CPA
Phone
4804971250
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The corporation accounts for uncertain tax positions, if any, in accordance with fasb accounting standards codification section 740. In accordance with these professional standards, the corporation recognizes tax positions only to the extent that management believes it is "more likely than not" that its tax positions will be sustained upon examination by taxing authorities. Management believes that it has no uncertain tax position for the year ending december 31, 2022. The corporation believes that its income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the corporation's financial condition, net income or cash flows. Accordingly, the corporation has not recorded any reserves, or related accruals for interest and penalties for uncertain tax provisions at december 31, 2022. The corporation is subject to routine audits by taxing jurisdictions; however, there are no audits currently in progress for any tax periods. The corporation believes it is no longer subject to income tax examinations by u.s. Federal tax authorities for years before 2020, or by arizona state tax authorities for years before 2019.”

Raw XML Appendix366 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/Form990PartVIISectionAGrp/TitleTxt7VICE PRESIDENT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION ACCOUNTS FOR UNCERTAIN TAX POSITIONS, IF ANY, IN ACCORDANCE WITH FASB ACCOUNTING STANDARDS CODIFICATION SECTION 740. IN ACCORDANCE WITH THESE PROFESSIONAL STANDARDS, THE CORPORATION RECOGNIZES TAX POSITIONS ONLY TO THE EXTENT THAT MANAGEMENT BELIEVES IT IS "MORE LIKELY THAN NOT" THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT BELIEVES THAT IT HAS NO UNCERTAIN TAX POSITION FOR THE YEAR ENDING DECEMBER 31, 2022. THE CORPORATION BELIEVES THAT ITS INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE CORPORATION'S FINANCIAL CONDITION, NET INCOME OR CASH FLOWS. ACCORDINGLY, THE CORPORATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN TAX PROVISIONS AT DECEMBER 31, 2022. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE NO AUDITS CURRENTLY IN PROGRESS FOR ANY TAX PERIODS. THE CORPORATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL TAX AUTHORITIES FOR YEARS BEFORE 2020, OR BY ARIZONA STATE TAX AUTHORITIES FOR YEARS BEFORE 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt01334000
IRS990ScheduleD/TotalExpensesPerForm990Amt0383081
IRS990ScheduleD/TotalLiabilityAmt0960349
IRS990ScheduleD/TotalRevenuePerForm990Amt0340312
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0340312
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0383081
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION HAS OBTAINED THE SERVICES OF A RESIDENTIAL PROPERTY MANAGEMENT COMPANY TO MANAGE THE AFFAIRS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH UNIT OWNER WITHIN THE HOMEOWNERS ASSOCIATION IS A MEMBER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HOMEOWNERS ELECT OFFICERS AND BOARD MEMBERS FOR THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY SUBSTANTIAL CHANGES TO THE ORGANIZATIONAL DOCUMENTS ARE APPROVED BY THE GENERAL MEMBERSHIP OF THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING BODY IS PROVIDED A COPY OF THE FORM 990 FOR REVIEW AND SIGNATURE BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ASSOCIATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE THROUGH ITS ONSITE ADMINISTRATIVE OFFICE. NO DOCUMENTS AVAILABLE TO THE PUBLIC.
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03814251
IRS990/TotalAssetsEOYAmt04734296
IRS990/TotalAssetsGrp/BOYAmt03814251
IRS990/TotalAssetsGrp/EOYAmt04734296
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt048961
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0334120
IRS990/TotalFunctionalExpensesGrp/TotalAmt0383081
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024679
IRS990/TotalLiabilitiesEOYAmt0987493
IRS990/TotalLiabilitiesGrp/BOYAmt024679
IRS990/TotalLiabilitiesGrp/EOYAmt0987493
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03789572
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03746803
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0334120
IRS990/TotalProgramServiceRevenueAmt0272261
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt056350
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0283962
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0340312
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03814251
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04734296
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt016625 S DESERT FOOTHILLS PARKWAY
IRS990/USAddress/CityNm0PHOENIX
IRS990/USAddress/StateAbbreviationCd0AZ
IRS990/USAddress/ZIPCd085048
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FOOTHILLSRESERVE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DENNIS S
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04807594945
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOOTHILLS RESERVE MASTER OWNERS'
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FOOT
ReturnHeader/Filer/EIN0481260769
ReturnHeader/Filer/PhoneNum04807594945
ReturnHeader/Filer/USAddress/AddressLine1Txt016625 S DESERT FOOTHILLS PARKWAY
ReturnHeader/Filer/USAddress/CityNm0PHOENIX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AZ
ReturnHeader/Filer/USAddress/ZIPCd085048
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0860907754
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUTLER HANSEN PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01734 EAST BOSTON STREET STE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GILBERT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AZ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd085295
ReturnHeader/PreparerPersonGrp/PhoneNum04804971250
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL E HANSEN CPA
ReturnHeader/ReturnTs02023-11-15T18:01:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DENNIS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0S
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,734,296
Liabilities
$987,493
Net assets
$3,746,803
Revenue
$340,312
Expenses
$383,081
Net income
-$42,769
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.99$0.68$3.31$0.40$0.82$0.42
2023Detailed filing. Detailed filing data is available for this year.$4.39$0.66$3.73$0.33$0.36$0.03
2022Detailed filing. Detailed filing data is available for this year.$4.73$0.99$3.75$0.34$0.38$0.04
2021Detailed filing. Detailed filing data is available for this year.$3.81$0.02$3.79$0.31$0.52$0.21
2020Detailed filing. Detailed filing data is available for this year.$4.03$0.03$4.00$0.35$0.95$0.59
2019Detailed filing. Detailed filing data is available for this year.$4.62$0.03$4.59$0.29$0.93$0.64
2018Detailed filing. Detailed filing data is available for this year.$5.26$0.03$5.23$5.37$0.37$5.00
2017Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.27$0.22$0.05