PADRE ISLES PROPERTY OWNERS ASSN: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
PADRE ISLES PROPERTY OWNERS ASSN (EIN 74-1937330)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-12
IRS object ID
202403179349302550
Schema version
2023v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-11-12T09:22:38-06:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN453980748PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ADAMSON & COMPANY LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14101 S ALAMEDA STAddressLine1Txt
CityCORPUS CHRISTICityNm
State AbbreviationTXStateAbbreviationCd
ZIP78411ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN741937330EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PADRE ISLES PROPERTY OWNERSBusinessNameLine1Txt
Business Name Line2ASSOCIATION INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlPADRBusinessNameControlTxt
Phone3619497025PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line114015 FORTUNA BAY DRIVEAddressLine1Txt
CityCORPUS CHRISTICityNm
State AbbreviationTXStateAbbreviationCd
ZIP78418ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRAY SINGLETONPersonNm
Person TitleTREASURERPersonTitleTxt
Phone3619497025PhoneNum
Signature2024-11-05SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJENNIFER M PERALESPreparerPersonNm
PTINP01325331PTIN
Phone3618878916PhoneNum
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerMARVIN JONESPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line114015 FORTUNA BAY DRAddressLine1Txt
CityCORPUS CHRISTICityNm
State AbbreviationTXStateAbbreviationCd
ZIP78418ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$2,527,621GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.PADREISLESPOA.NETWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1976FormationYr
Legal Domicile StateTXLegalDomicileStateCd
Activity Or MissionPROVIDE COMMON AREA MAINTENANCE, BEAUTIFICATION, AND PROMOTE SOCIAL WELFARE FOR RESIDENTS OF PADRE ISLAND , CORPUS CHRISTI, TEXAS SUBDIVIDSIONSActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee10TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$2,052,998PYProgramServiceRevenueAmt
CY Program Service Revenue$2,088,735CYProgramServiceRevenueAmt
PY Investment Income$182,029PYInvestmentIncomeAmt
CY Investment Income$314,720CYInvestmentIncomeAmt
PY Other Revenue$137,458PYOtherRevenueAmt
CY Other Revenue$124,166CYOtherRevenueAmt
PY Total Revenue$2,372,485PYTotalRevenueAmt
CY Total Revenue$2,527,621CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$334,960PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$302,728CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$1,574,938PYOtherExpensesAmt
CY Other Expenses$1,674,030CYOtherExpensesAmt
PY Total Expenses$1,909,898PYTotalExpensesAmt
CY Total Expenses$1,976,758CYTotalExpensesAmt
PY Revenues Less Expenses$462,587PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$550,863CYRevenuesLessExpensesAmt
Total Assets BOY$12,626,423TotalAssetsBOYAmt
Total Assets EOY$13,633,391TotalAssetsEOYAmt
Total Liabilities BOY$95,938TotalLiabilitiesBOYAmt
Total Liabilities EOY$133,550TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$12,530,485NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$13,499,841NetAssetsOrFundBalancesEOYAmt
MissionPROVIDE COMMON AREA MAINTENANCE, BEAUTIFICATION, AND PROMOTE SOCIAL WELFARE FOR RESIDENTS OF PADRE ISLAND , CORPUS CHRISTI, TEXAS SUBDIVIDSIONSMissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,759,820ExpenseAmt
Revenue$2,212,901RevenueAmt
DescPROVIDE COMMON AREA MAINTENANCE, BEAUTIFICATION, AND PROMOTE SOCIAL WELFARE FOR RESIDENTS OF PADRE ISLAND , CORPUS CHRISTI, TEXAS SUBDIVIDSIONSDesc
Total Program Service Expenses$1,759,820TotalProgramServiceExpensesAmt
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy TaxYes (1)SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (1)ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document16IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee10EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1JEFF SMITHBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3619931000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1555 NORTH CARANCAHUA SUITE 1040AddressLine1Txt
CityCORPUS CHRISTICityNm
State AbbreviationTXStateAbbreviationCd
ZIP78401ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
DREW DIGGINS
PRESIDENT2.00Yes (X)Yes (X)$0$0$0
DAVID ROSSI
VICE PRESIDENT2.00Yes (X)Yes (X)$0$0$0
HERB BRADLEY
SECRETARY2.00Yes (X)Yes (X)$0$0$0
RAY SINGELTON
TREASURER2.00Yes (X)Yes (X)$0$0$0
JEFFERY RACKLEY
BOARD MEMBER2.00Yes (X)$0$0$0
BILL DAVENPORT
BOARD MEMBER2.00Yes (X)$0$0$0
JOHN PLOTNIK
BOARD MEMBER2.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
PEZZI CONSTRUCTION INC
PO BOX 1003CIBOLOTX78108BULKHEAD AND TIEBACK INSPECTIONS$530,750
THE ALCHEMIST GROUP
240 STATE STBATON ROUGELA70802PANEL REPAIRS$276,700
BRIGHTVIEW LANDSCAPE SERVICES INC
PO BOX 31001-2463PASADENACA911102463LAWN SERVICES$136,378
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
COMMON AREA MAINTENANC531390$2,074,035$2,074,035
CITY OF COPRPUS CHRIST531390$14,700$14,700
FieldValueIRS element (for citing)
Total Program Service Revenue$2,088,735TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$314,720TotalRevenueColumnAmt
Exclusion$314,720ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
ARCHITECTURAL CONTROL531390$70,395$70,395
MISCELLANEOUS INCOME531390$40,721$40,721
RESALE CERTIFICATE FEE531390$13,050$13,050
FieldValueIRS element (for citing)
Other Revenue Total$124,166OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,527,621TotalRevenueColumnAmt
Related Or Exempt Func Income$2,212,901RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$314,720ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$269,771TotalAmt
Program Services$269,771ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$11,411TotalAmt
Program Services$11,411ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$21,546TotalAmt
Program Services$21,546ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$76,214TotalAmt
Management And General$76,214ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$74,683TotalAmt
Management And General$74,683ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$10,289TotalAmt
Program Services$10,289ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$24,611TotalAmt
Program Services$24,611ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$67,647TotalAmt
Program Services$67,647ProgramServicesAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$12,596TotalAmt
Program Services$12,596ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$59,865TotalAmt
Program Services$59,865ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$23,553TotalAmt
Management And General$23,553ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$999TotalAmt
Program Services$999ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$102,986TotalAmt
Program Services$60,498ProgramServicesAmt
Management And General$42,488ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
BULKHEAD MAINTENANCE$857,047$857,047
COMMON AREA MAINTENANCE$173,970$173,970
BILLISH PARK MAINTENANC$56,834$56,834
WATER INSPECTIONS$30,439$30,439

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$102,297TotalAmt
Program Services$102,297ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,976,758TotalAmt
Program Services$1,759,820ProgramServicesAmt
Management And General$216,938ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$953,536BOYAmt
EOY$254,194EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$8,696,474BOYAmt
EOY$10,342,575EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$277,928BOYAmt
EOY$350,938EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
EOY$72,633EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$19,465BOYAmt
EOY$28,755EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$148,710LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$147,000LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$2,709BOYAmt
EOY$1,710EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$2,676,311BOYAmt
EOY$2,582,586EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$12,626,423BOYAmt
EOY$13,633,391EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$55,961BOYAmt
EOY$106,021EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$15,001BOYAmt
EOY$15,172EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$24,976BOYAmt
EOY$12,357EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$95,938BOYAmt
EOY$133,550EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$12,530,485BOYAmt
EOY$13,499,841EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$12,530,485BOYAmt
EOY$13,499,841EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$12,626,423BOYAmt
EOY$13,633,391EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$550,863ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$418,492NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$1OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewYes (1)AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Substantially All Dues NondedYes (1)SubstantiallyAllDuesNondedInd
Only In House Lobbying0OnlyInHouseLobbyingInd
Agree Carryover Prior Year0AgreeCarryoverPriorYearInd

Schedule D IRS990ScheduleD

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$102,167OtherCostOrOtherBasisAmt
Depreciation$102,167DepreciationAmt
Book Value$0BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$46,543OtherCostOrOtherBasisAmt
Depreciation$44,833DepreciationAmt
Book Value$1,710BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$1,710TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp

FieldValueIRS element (for citing)
DescHERNDON PLANT OAKLEY MUTUAL FUNDSDesc
Book Value$2,582,586BookValueAmt
Method ValuationFMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Securities$2,582,586TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
PAYROLL TAXES PAYABLE$8,657
BUILDER DEPOSITS$3,700
FieldValueIRS element (for citing)
Total Liability$12,357TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$2,946,114TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$418,492NetUnrealizedGainsInvstAmt
Other Revenue$1OtherRevenueAmt
Revenue Not Reported$418,493RevenueNotReportedAmt
Revenue Subtotal$2,527,621RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$2,527,621TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$1,976,758TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$1,976,758ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$1,976,758TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE ASSOCIATION QUALIFIES AS A TAX-EXEMPT PROPERTY OWNERS' ASSOCIATION UNDER INTERNAL REVENUE CODE SECTION 528 FOR THE YEAR ENDED DECEMBER 31, 2023. UNDER THAT SECTION, THE ASSOCIATION IS NOT TAXED ON INCOME AND EXPENSES RELATED TO ITS EXEMPT PURPOSE, WHICH IS THE ACQUISITION, CONSTRUCTION, MANAGEMENT, MAINTENANCE, AND CARE OF ASSOCIATION PROPERTY. NET NONEXEMPT FUNCTION INCOME, WHICH INCLUDES EARNED INTEREST AND REVENUES RECEIVED FROM SOURCES UNRELATED TO ITS EXEMPT PURPOSE, IS TAXED AT THE APPROPRIATE RATE BY THE FEDERAL GOVERNMENT. FOR THE YEAR ENDED DECEMBER 31, 2023, THE ASSOCIATION DID NOT HAVE FEDERAL INCOME TAX EXPENSE. THE ASSOCIATION'S TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE ASSOCIATION'S FEDERAL INCOME TAX RETURNS FOR 2021, 2022, AND 2023 REMAIN OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. IN EVALUATING THE ASSOCIATION'S TAX PROVISIONS AND ACCRUALS, THE ASSOCIATION BELIEVES THAT ITS ESTIMATES ARE APPROPRIATE BASED ON CURRENT FACTS AND CIRCUMSTANCES. THE ASSOCIATION CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS.
PART XI, LINE 2D - OTHER ADJUSTMENTS:ROUNDING 1.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THE ASSOCIATION IS COMPRISED OF RESIDENTIAL LOT OWNERS IN THE SUBDIVISIONS OF PADRE ISLES
FORM 990, PART VI, SECTION A, LINE 7ATHE OWNERS IN THE ASSOCIATION'S SUBDIVISIONS CAN VOTE FOR DIRECTORS AND MEMBERS OF THE BOARD OF DIRECTORS
FORM 990, PART VI, SECTION B, LINE 11BA COPY OF FORM 990 IS PROVIDED AT THE MONTHLY BOARD MEETINGS OR EMAILED TO THE BOARD MEMBERS FOR REVIEW BEFORE FILING.
FORM 990, PART VI, SECTION B, LINE 12CMANAGEMENT MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND TAKES ENFORCEMENT ACTION WHEN NECESSARY
FORM 990, PART VI, SECTION C, LINE 18THE 990 IS MADE AVAILABLE UPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19THE ORGANIZATION MAKES ITS DOCUMENTATION AVAILABLE TO THE PUBLIC UPON REQUEST AND POSTED ON THE ORGANIZATION'S WEBSITE.
FORM 990, PART XI, LINE 9:ROUNDING 1.
FORM 990, PART XII, LINE 2C:NO CHANGES WERE MADE FROM THE PRIOR YEAR

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.