Civic Intelligence

Foothills Reserve Master Owners'

990 • Fiscal year 2023 • EIN 48-1260769

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileWWW.FOOTHILLSRESERVE.ORG
PO Box 803555Dallas, TX 75380

(480) 759-4945

Siviq Scores

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

Liabilities / Assets

65th percentile

0.15x

Higher debt load relative to assets than 65% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

2.01x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

20th percentile

-9.2%

Higher net margin than 20% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

16th percentile

-7.3%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

28th percentile

-4.0%

Faster revenue growth than 28% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$4,387,350

Down $346,946 (-7.3%) from 2022

Net Assets

Down

$3,731,926

Down $14,877 (-0.4%) from 2022

Liabilities

Down

$655,424

Down $332,069 (-34%) from 2022

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin20th percentile

Revenue

Down

$326,713

Down $13,599 (-4.0%) from 2022

Expenses

Down

$356,657

Down $26,424 (-6.9%) from 2022

Net Income

Up

-$29,944

Up $12,825 (+30%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2023

Assets$4,387,350
Liabilities$655,424
Net Assets$3,731,926
Open 2023 Filing

Operations Trend

Revenue Growth28th 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

2023

Revenue$326,713
Expenses$356,657
Net Income-$29,944
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$326,713
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
Savings and Temporary Cash Investments$462,381$2,950,463▲ $2,488,082
Investments Other Securities$1,334,000$1,334,000→ $0
Cash and Non-Interest-Bearing Accounts$2,937,915$102,662▼ $2,835,253
Total Assets$4,734,296$4,387,350▼ $346,946
Other Assets Total$0$225▲ $225
Liabilities
Other Liabilities$960,349$629,636▼ $330,713
Deferred Revenue$27,144$25,788▼ $1,356
Total Liabilities$987,493$655,424▼ $332,069
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,746,803$3,731,926▼ $14,877
Total Net Assets Fund Balance$3,746,803$3,731,926▼ $14,877
Total Liabilities and Net Assets / Fund Balance$4,734,296$4,387,350▼ $346,946

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
Anna WhittonDirector
Lisa AikenDirector
Randy GallagherDirector
Robin HaddenDirector
Sheryl Rangel-gethnerDirector
Aaron HinmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$275,496
Investment Income
$51,217
Other Revenue
$0
Change in Net Assets
$-29,944

Audited Revenue Reconciliation

Revenue per Audited Statements
$326,713
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$326,713
Total Revenue per Form 990
$326,713
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$356,657
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$43,003--$43,003
Other Expenses$26,946$38,210-$26,946
Fees for Services Management-$26,400-$26,400
All Other Expenses$26,261--$26,261
Fees for Services Legal$25,489--$25,489
Fees for Services Accounting-$13,188-$13,188
Office Expenses-$6,854-$6,854
Insurance$6,733--$6,733
Information Technology-$900-$900
Total Functional Expenses$271,105$85,552$0$356,657

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$356,657
Total Expenses per Audited Statements$356,657
Total Expenses per Form 990$356,657
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$629,636
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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
PO BOX 803555, DALLAS, TX 75380

Signing Officer

Name
Dennis S
Title
Treasurer
Phone
4807594945
Signed
2024-11-13
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
9

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, 2023. 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, 2023. 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 2021, or by arizona state tax authorities for years before 2020.”

Raw XML Appendix358 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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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, 2023. 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, 2023. 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 2021, OR BY ARIZONA STATE TAX AUTHORITIES FOR YEARS BEFORE 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt01334000
IRS990ScheduleD/TotalExpensesPerForm990Amt0356657
IRS990ScheduleD/TotalLiabilityAmt0629636
IRS990ScheduleD/TotalRevenuePerForm990Amt0326713
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0326713
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0356657
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/TotalAssetsBOYAmt04734296
IRS990/TotalAssetsEOYAmt04387350
IRS990/TotalAssetsGrp/BOYAmt04734296
IRS990/TotalAssetsGrp/EOYAmt04387350
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt085552
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0271105
IRS990/TotalFunctionalExpensesGrp/TotalAmt0356657
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0987493
IRS990/TotalLiabilitiesEOYAmt0655424
IRS990/TotalLiabilitiesGrp/BOYAmt0987493
IRS990/TotalLiabilitiesGrp/EOYAmt0655424
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03746803
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03731926
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0271105
IRS990/TotalProgramServiceRevenueAmt0275496
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt051217
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0275496
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0326713
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04734296
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04387350
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 803555
IRS990/USAddress/CityNm0DALLAS
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075380
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FOOTHILLSRESERVE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DENNIS S
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04807594945
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOOTHILLS RESERVE MASTER OWNERS'
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FOOT
ReturnHeader/Filer/EIN0481260769
ReturnHeader/Filer/PhoneNum04807594945
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 803555
ReturnHeader/Filer/USAddress/CityNm0DALLAS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075380
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/ReturnTs02024-11-13T23:29:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,387,350
Liabilities
$655,424
Net assets
$3,731,926
Revenue
$326,713
Expenses
$356,657
Net income
-$29,944
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