Civic Intelligence

Oak Meadows Community Association

990 • Fiscal year 2020 • EIN 85-2075311

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 29, 2023

Organization ProfileN/A
2075 Cedar RoadAsheboro, NC 27203

(862) 270-6540

Siviq Scores

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

Liabilities / Assets

66th percentile

1.00x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

54.14x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Net Margin

27th percentile

-24%

Higher net margin than 27% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets66th percentile

Assets

$2,395,415

No earlier filing loaded for comparison.

Net Assets

-$10,769

No earlier filing loaded for comparison.

Liabilities

$2,406,184

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin27th percentile

Revenue

$44,445

No earlier filing loaded for comparison.

Expenses

$55,214

No earlier filing loaded for comparison.

Net Income

-$10,769

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2020: $2,395,415Liabilities 2020: $2,406,184Net Assets 2020: -$10,7692020Assets 2021: $2,412,561Liabilities 2021: $2,383,163Net Assets 2021: $29,3982021Assets 2022: $2,445,527Liabilities 2022: $2,346,941Net Assets 2022: $98,5862022Assets 2023: $2,466,756Liabilities 2023: $2,308,970Net Assets 2023: $157,7862023

Highlighted filing

2020

Assets$2,395,415
Liabilities$2,406,184
Net Assets-$10,769
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100KRevenue 2020: $44,445Expenses 2020: $55,214Net Income 2020: -$10,7692020Revenue 2021: $281,638Expenses 2021: $241,471Net Income 2021: $40,1672021Revenue 2022: $285,724Expenses 2022: $216,536Net Income 2022: $69,1882022Revenue 2023: $288,553Expenses 2023: $229,353Net Income 2023: $59,2002023

Highlighted filing

2020

Revenue$44,445
Expenses$55,214
Net Income-$10,769
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 29, 2023
Return Version
2020v4.1
Gross Receipts
$44,445
Mission and Program Overview

Mission

The Association was established to own and maintain land as a manufactured home community with the goal of a permanently affordable, safe, and stable environment in which its current and future members shall live as residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$2,189,753-
Savings and Temporary Cash Investments$0$177,958▲ $177,958
Cash and Non-Interest-Bearing Accounts$0$20,168▲ $20,168
Accounts Receivable$0$7,536▲ $7,536
Total Assets$0$2,395,415▲ $2,395,415
Liabilities
Mortgage Notes Payable Secured by Investment Property$0$2,401,369▲ $2,401,369
Accounts Payable and Accrued Expenses$0$3,211▲ $3,211
Deferred Revenue$0$1,604▲ $1,604
Total Liabilities$0$2,406,184▲ $2,406,184
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-10,769-
Total Net Assets Fund Balance$0$-10,769▼ $10,769
Total Liabilities and Net Assets / Fund Balance$0$2,395,415▲ $2,395,415

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,189,753-$2,189,753
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Brenda KiddPresident
Katrina BlakeOperations Manager
Luz MarceloSecretary
Tomasa Perez-martinezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$44,020
Investment Income
$5
Other Revenue
$420
Change in Net Assets
$-10,769
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$55,214
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
Other Expenses$39,718$0$0$39,718
Interest$11,018$0$0$11,018
Fees for Services Management$1,056$0$0$1,056
Office Expenses$0$59$0$59
Total Functional Expenses$55,155$59$0$55,214
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
Lobbying 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
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Oak Meadows Community Association
EIN
85-2075311
Phone
8622706540
Address
2075 CEDAR ROAD, ASHEBORO, NC 27203

Signing Officer

Name
Lacey Brown
Title
Board Treasurer
Phone
8622706540
Signed
2023-08-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lacey Brown
Formed
2020
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Huneycutt Parsley & Taylor CPAs PLLC
Address
221 S Fayetteville St, Asheboro, NC 27203
Preparer
William R Huneycutt CPA
Phone
3366269970
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“Benjamin james properties provides property managment services to the organization.”

Pt VI, Line 6

“The organization has members that are homeowners of the housing organization.”

Pt VI, Line 7A

“The organization has members who had the power to elect or appoint one or more members of the governing body.”

Pt VI, Line 7B

“Governance decisions of the organization are reserved to members and the member-elected board of directors.”

Pt VI, Line 11B

“The form 990 will be reviewed by treasurer before filing.”

Pt VI, Line 12C

“The organization regularly and consistently monitored and enforced compliance with the written conflict of interest policy by providing transparent public communication and oversight within the board, membership, and additional contracted parties.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BENJAMIN JAMES PROPERTIES PROVIDES PROPERTY MANAGMENT SERVICES TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS THAT ARE HOMEOWNERS OF THE HOUSING ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS MEMBERS WHO HAD THE POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNANCE DECISIONS OF THE ORGANIZATION ARE RESERVED TO MEMBERS AND THE MEMBER-ELECTED BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 WILL BE REVIEWED BY TREASURER BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORED AND ENFORCED COMPLIANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY BY PROVIDING TRANSPARENT PUBLIC COMMUNICATION AND OVERSIGHT WITHIN THE BOARD, MEMBERSHIP, AND ADDITIONAL CONTRACTED PARTIES.
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ReturnHeader/Filer/PhoneNum08622706540
ReturnHeader/Filer/USAddress/AddressLine1Txt02075 CEDAR ROAD
ReturnHeader/Filer/USAddress/CityNm0ASHEBORO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027203
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Huneycutt Parsley & Taylor CPAs PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0221 S Fayetteville St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Asheboro
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027203
ReturnHeader/PreparerPersonGrp/PhoneNum03366269970
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0William R Huneycutt CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-08-30T06:01:21-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LACEY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BROWN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,395,415
Liabilities
$2,406,184
Net assets
-$10,769
Revenue
$44,445
Expenses
$55,214
Net income
-$10,769
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$2.31$0.16$0.29$0.23$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.45$2.35$0.10$0.29$0.22$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.41$2.38$0.03$0.28$0.24$0.04
2020Detailed filing. Detailed filing data is available for this year.$2.40$2.41$0.01$0.04$0.06$0.01