Civic Intelligence

Lakes Master Association Inc

990 • Fiscal year 2014 • EIN 74-2350796

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 11, 2015

Organization ProfileWWW.THELAKESCCTX.COM
7502 VeniceCorpus Christi, TX 78413

(361) 850-7290

Siviq Scores

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

Liabilities / Assets

77th percentile

0.10x

Higher debt load relative to assets than 77% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

78th percentile

0.11x

Higher debt load relative to revenue than 78% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

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

2014 filings • 501(c)4 • <$500k nonprofits • Source year 2014

Asset Growth

84th percentile

28%

Faster asset growth than 84% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

63rd percentile

6.3%

Faster revenue growth than 63% of similar nonprofits.

2014 filings • 501(c)4 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$226,773

Up $49,039 (+28%) from 2013

Net Assets

Up

$203,176

Up $35,965 (+22%) from 2013

Liabilities

Up

$23,597

Up $13,074 (+124%) from 2013

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin75th percentile

Revenue

Up

$223,687

Up $13,295 (+6.3%) from 2013

Expenses

Up

$187,488

Up $13,672 (+7.9%) from 2013

Net Income

Down

$36,199

Down $377 (-1.0%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$300K$200K$100K$0Assets 2010: $126,073Liabilities 2010: $9,3642010Assets 2011: $114,804Liabilities 2011: $2,403Net Assets 2011: $112,4012011Assets 2012: $160,791Liabilities 2012: $30,057Net Assets 2012: $130,7342012Assets 2013: $177,734Liabilities 2013: $10,523Net Assets 2013: $167,2112013Assets 2014: $226,773Liabilities 2014: $23,597Net Assets 2014: $203,1762014Assets 2015: $177,681Liabilities 2015: $0Net Assets 2015: $177,6812015Assets 2016: $170,317Liabilities 2016: $0Net Assets 2016: $170,3172016Assets 2017: $211,297Liabilities 2017: $0Net Assets 2017: $211,2972017Assets 2018: $212,406Liabilities 2018: $932Net Assets 2018: $211,4742018Assets 2019: $223,490Liabilities 2019: $0Net Assets 2019: $223,4902019Assets 2020: $176,564Liabilities 2020: $0Net Assets 2020: $176,5642020Assets 2021: $159,277Liabilities 2021: $71Net Assets 2021: $159,2062021Assets 2022: $154,332Liabilities 2022: $188Net Assets 2022: $154,1442022Assets 2023: $112,207Liabilities 2023: $403Net Assets 2023: $111,8042023Assets 2024: $125,880Liabilities 2024: $0Net Assets 2024: $125,8802024

Highlighted filing

2014

Assets$226,773
Liabilities$23,597
Net Assets$203,176
Open 2014 Filing

Operations Trend

Revenue Growth63rd percentile

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

$300K$200K$100K$0-$100KRevenue 2010: $151,664Expenses 2010: $175,380Net Income 2010: -$23,7162010Revenue 2011: $172,521Expenses 2011: $181,982Net Income 2011: -$9,4612011Revenue 2012: $211,695Expenses 2012: $187,853Net Income 2012: $23,8422012Revenue 2013: $210,392Expenses 2013: $173,816Net Income 2013: $36,5762013Revenue 2014: $223,687Expenses 2014: $187,488Net Income 2014: $36,1992014Revenue 2015: $175,061Expenses 2015: $215,035Net Income 2015: -$39,9742015Revenue 2016: $187,179Expenses 2016: $194,543Net Income 2016: -$7,3642016Revenue 2017: $234,780Expenses 2017: $204,616Net Income 2017: $30,1642017Revenue 2018: $207,841Expenses 2018: $221,060Net Income 2018: -$13,2192018Revenue 2019: $217,956Expenses 2019: $208,499Net Income 2019: $9,4572019Revenue 2020: $180,287Expenses 2020: $202,415Net Income 2020: -$22,1282020Revenue 2021: $212,517Expenses 2021: $229,875Net Income 2021: -$17,3582021Revenue 2022: $211,013Expenses 2022: $216,075Net Income 2022: -$5,0622022Revenue 2023: $190,187Expenses 2023: $232,527Net Income 2023: -$42,3402023Revenue 2024: $205,383Expenses 2024: $191,307Net Income 2024: $14,0762024

Highlighted filing

2014

Revenue$223,687
Expenses$187,488
Net Income$36,199
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 11, 2015
Return Version
2014v5.0
Gross Receipts
$223,687
Mission and Program Overview

Mission

Homeowners association serving 452 homeowners and the local community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$107,938$127,164▲ $19,226
Cash and Non-Interest-Bearing Accounts$43,562$75,962▲ $32,400
Savings and Temporary Cash Investments$25,913$20,025▼ $5,888
Other Notes and Loans Receivable, Net-$3,316-
Accounts Receivable$2$306▲ $304
Total Assets$177,734$226,773▲ $49,039
Other Assets Total$319--
Liabilities
Other Liabilities$10,500$23,750▲ $13,250
Accounts Payable and Accrued Expenses$23$-153▼ $176
Total Liabilities$10,523$23,597▲ $13,074
Net Assets / Fund Balance
Unrestricted Net Assets$103,719$115,881▲ $12,162
Temporarily Rstr Net Assets$63,492$87,295▲ $23,803
Total Net Assets Fund Balance$167,211$203,176▲ $35,965
Total Liabilities and Net Assets / Fund Balance$177,734$226,773▲ $49,039

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$29,944$461,604$491,548
Other Land Buildings$81,841$33,478$115,319
Land$15,379-$15,379
Compensation and Service Providers
Top Officer Pay85th percentile

Board Members and Trustees

NameTitle
Arnold GonzalezPresident
Amanco CanalesDirector
Rick MendezDirector
Virgil GomezDirector
Scott LiskVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$221,242
Investment Income
$2,445
Other Revenue
$0
Change in Net Assets
$36,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$131,005
Salaries, Compensation, and Employee Benefits$56,483
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$93,320--$93,320
Other Salaries and Wages$15,475$38,979-$54,454
Depreciation Depletion$19,127--$19,127
Insurance-$8,676-$8,676
Fees for Services Accounting-$6,850-$6,850
Fees for Services Legal-$3,009-$3,009
Payroll Taxes$1,826$203-$2,029
Interest-$23-$23
Total Functional Expenses$129,748$57,740$0$187,488
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
Frost Bank$23,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed at a called board meeting prior to filing the return.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Lakes Master Association Inc
EIN
74-2350796
Phone
3618507290
Address
7502 VENICE, CORPUS CHRISTI, TX 78413

Signing Officer

Name
Arnold Gonzales
Title
President
Phone
3618507290
Signed
2015-11-11
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
5
Independent Board Members
5
Employees
19

Preparer

Firm
James J Wesson Jr CPA
Address
210 S CARANCAHUA ST STE 604, CORPUS CHRISTI, TX 78401-3034
Preparer
James J Wesson Jr
Phone
3612252757
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The lakes master association, inc. Is responsible for the maintenance and managment of the common and recreational areas of the lakes subdivision. The subdivision serves 452 homeowners of the subdivision and the local community”

Form 990, Part IX, Line 11G

“Grounds maintenance 48,711 0 0 club house expense 16,938 0 0 pool operating expense 11,388 0 0 playground maintenance 347 0 0 office expense 8,098 0 0 board of director expense 131 0 0 general & administrative expe 7,707 0 0”

Form 990, Part XI, Line 9

“Prior period depreciation adjustment 0 prior period depreciation adjustment 234”

Raw XML Appendix284 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 LAKES MASTER ASSOCIATION, INC. IS RESPONSIBLE FOR THE MAINTENANCE AND MANAGMENT OF THE COMMON AND RECREATIONAL AREAS OF THE LAKES SUBDIVISION. THE SUBDIVISION SERVES 452 HOMEOWNERS OF THE SUBDIVISION AND THE LOCAL COMMUNITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED AT A CALLED BOARD MEETING PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GROUNDS MAINTENANCE 48,711 0 0 CLUB HOUSE EXPENSE 16,938 0 0 POOL OPERATING EXPENSE 11,388 0 0 PLAYGROUND MAINTENANCE 347 0 0 OFFICE EXPENSE 8,098 0 0 BOARD OF DIRECTOR EXPENSE 131 0 0 GENERAL & ADMINISTRATIVE EXPE 7,707 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR PERIOD DEPRECIATION ADJUSTMENT 0 PRIOR PERIOD DEPRECIATION ADJUSTMENT 234
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ReturnHeader/Filer/USAddress/AddressLine1Txt07502 VENICE
ReturnHeader/Filer/USAddress/CityNm0CORPUS CHRISTI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078413
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JAMES J WESSON JR CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0210 S CARANCAHUA ST STE 604
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORPUS CHRISTI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0784013034
ReturnHeader/PreparerPersonGrp/PhoneNum03612252757
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES J WESSON JR
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-11-12T10:10:16-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$226,773
Liabilities
$23,597
Net assets
$203,176
Revenue
$223,687
Expenses
$187,488
Net income
$36,199
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$0.00$1.26$2.05$1.91$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.12$0.00$1.12$1.90$2.33$0.42
2022Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$2.11$2.16$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.59$0.00$1.59$2.13$2.30$0.17
2020Detailed filing. Detailed filing data is available for this year.$1.77$0.00$1.77$1.80$2.02$0.22
2019Detailed filing. Detailed filing data is available for this year.$2.23$0.00$2.23$2.18$2.08$0.09
2018Detailed filing. Detailed filing data is available for this year.$2.12$0.01$2.11$2.08$2.21$0.13
2017Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$2.35$2.05$0.30
2016Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$1.87$1.95$0.07
2015Detailed filing. Detailed filing data is available for this year.$1.78$0.00$1.78$1.75$2.15$0.40
2014Detailed filing. Detailed filing data is available for this year.$2.27$0.24$2.03$2.24$1.87$0.36
2013Detailed filing. Detailed filing data is available for this year.$1.78$0.11$1.67$2.10$1.74$0.37
2012Summary only. Only limited summary data is available for this year.$1.61$0.30$1.31$2.12$1.88$0.24
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.02$1.12$1.73$1.82$0.09
2010Summary only. Only limited summary data is available for this year.$1.26$0.09$1.52$1.75$0.24