LAKE CAROLINE PROPERTY OWNERS ASSOCIATION INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
LAKE CAROLINE PROPERTY OWNERS ASSOCIATION INC (EIN 54-0884209)
Tax period
2023-04-01 to 2024-03-31
Filed
2025-02-17
IRS object ID
202500489349301715
Schema version
2023v6.0
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)
Return2025-02-17T15:45:16-05:00ReturnTs
Tax Period End2024-03-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN200221868PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BARNES BROCK CORNWELL & PAINTER PLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1908 EDEN WAY N STE 201AddressLine1Txt
CityCHESAPEAKECityNm
State AbbreviationVAStateAbbreviationCd
ZIP233202640ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-04-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN540884209EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LAKE CAROLINE POAINCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlLAKEBusinessNameControlTxt
Phone8044483400PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line175 SARATOGA COVEAddressLine1Txt
CityRUTHER GLENCityNm
State AbbreviationVAStateAbbreviationCd
ZIP22546ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDAVID FLIPPOPersonNm
Person TitleTREASURERPersonTitleTxt
Phone8044483400PhoneNum
Signature2025-02-05SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonAMANDA L RICHTER CPAPreparerPersonNm
PTINP01218277PTIN
Phone7579615017PhoneNum
Preparation2025-02-17PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDAVID FLIPPOPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line175 SARATOGA COVEAddressLine1Txt
CityRUTHER GLENCityNm
State AbbreviationVAStateAbbreviationCd
ZIP22546ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$2,499,840GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.LAKECAROLINE.NETWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1996FormationYr
Legal Domicile StateVALegalDomicileStateCd
Activity Or MissionTO PROVIDE MANAGEMENT, MAINTENANCE, PRESERVATION, AND ARCHITECTURAL CONTROL WITHIN THE LAKE CAROLINE SUBDIVISION.ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee41TotalEmployeeCnt
Total Volunteers6TotalVolunteersCnt
Total Gross UBI$93,736TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$92,736NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$2,534,922PYProgramServiceRevenueAmt
CY Program Service Revenue$2,406,104CYProgramServiceRevenueAmt
PY Investment Income$14,656PYInvestmentIncomeAmt
CY Investment Income$93,736CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$2,549,578PYTotalRevenueAmt
CY Total Revenue$2,499,840CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$855,809PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$995,027CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$1,183,397PYOtherExpensesAmt
CY Other Expenses$1,219,295CYOtherExpensesAmt
PY Total Expenses$2,039,206PYTotalExpensesAmt
CY Total Expenses$2,214,322CYTotalExpensesAmt
PY Revenues Less Expenses$510,372PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$285,518CYRevenuesLessExpensesAmt
Total Assets BOY$9,486,044TotalAssetsBOYAmt
Total Assets EOY$9,761,282TotalAssetsEOYAmt
Total Liabilities BOY$1,685,721TotalLiabilitiesBOYAmt
Total Liabilities EOY$1,675,441TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$7,800,323NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$8,085,841NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE MANAGEMENT, MAINTENANCE, PRESERVATION, AND ARCHITECTURAL CONTROL WITHIN THE LAKE CAROLINE SUBDIVISION.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
DescTO PROVIDE MANAGEMENT, MAINTENANCE, PRESERVATION, AND ARCHITECTURAL CONTROL FOR THE AREA WITHIN THE 1,400 ARCES OF THE LAKE CAROLINE SUBDIVISION. THE ASSOCIATION IS COMPRISED OF 1,371 MEMBERS WHO OWN 1,550 LOTS AS OF MARCH 31, 2023.Desc
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document9IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee41EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonTHE ASSOCIATIONPersonNm
Phone8044483400PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line175 SARATOGA COVEAddressLine1Txt
CityRUTHER GLENCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23059ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
LEN BLASIOL
DIRECTOR1.00Yes (X)$0$0$0
VICKI ROSS
DIRECTOR1.00Yes (X)$0$0$0
DAVID FLIPPO
TREASURER5.00Yes (X)$0$0$0Yes (X)
JASON FOREMAN
PRESIDENT5.00Yes (X)$0$0$0Yes (X)
MARY WEINGARD
VICE PRESIDE5.00Yes (X)$0$0$0Yes (X)
CARI CLARK
SECRETARY1.00Yes (X)$0$0$0Yes (X)
ANNE TYREE
DIRECTOR1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
ASSESSMENTS AND DUES$2,089,712$2,089,712
NEW MEMBER FEES$87,256$87,256
NEW HOME FEES$68,100$68,100
OTHER FEES$46,622$46,622
DISCLOSURE PACKAGES$32,475$32,475

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$81,939TotalRevenueColumnAmt
Related Or Exempt Func Income$81,939RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$2,406,104TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$93,736TotalRevenueColumnAmt
Unrelated Business Revenue$93,736UnrelatedBusinessRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,499,840TotalRevenueColumnAmt
Related Or Exempt Func Income$2,406,104RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$93,736UnrelatedBusinessRevenueAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$849,896TotalAmt
Program Services$849,896ProgramServicesAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$1,525TotalAmt
Program Services$1,525ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$65,858TotalAmt
Program Services$64,541ProgramServicesAmt
Management And General$1,317ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$77,748TotalAmt
Program Services$76,193ProgramServicesAmt
Management And General$1,555ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$6,949TotalAmt
Program Services$6,949ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$39,665TotalAmt
Program Services$19,832ProgramServicesAmt
Management And General$19,833ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$35,709TotalAmt
Program Services$35,709ProgramServicesAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$1,540TotalAmt
Program Services$1,540ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$41,289TotalAmt
Program Services$4,561ProgramServicesAmt
Management And General$36,728ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$21,672TotalAmt
Program Services$21,672ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$38,036TotalAmt
Program Services$38,036ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$3,760TotalAmt
Program Services$3,760ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$526,367TotalAmt
Program Services$526,367ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$152,594TotalAmt
Program Services$152,594ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
RESERVE FUND EXPENSES$122,470$122,470
REPAIRS AND MAINTENANCE$93,222$93,222
DREDGING$41,634$41,634
TAXES$20,486$20,486

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$73,902TotalAmt
Program Services$65,984ProgramServicesAmt
Management And General$7,918ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,214,322TotalAmt
Program Services$2,146,971ProgramServicesAmt
Management And General$67,351ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$2,339,940BOYAmt
EOY$2,770,111EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$1,433,720BOYAmt
EOY$1,321,054EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$270,640BOYAmt
EOY$308,892EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$20,599BOYAmt
EOY$18,366EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$11,425,656LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$6,082,797LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$5,421,145BOYAmt
EOY$5,342,859EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$9,486,044BOYAmt
EOY$9,761,282EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$31,469BOYAmt
EOY$35,016EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,654,252BOYAmt
EOY$1,640,425EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,685,721BOYAmt
EOY$1,675,441EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$6,608,596BOYAmt
EOY$6,764,787EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,191,727BOYAmt
EOY$1,321,054EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$7,800,323BOYAmt
EOY$8,085,841EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,486,044BOYAmt
EOY$9,761,282EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$285,518ReconcilationRevenueExpnssAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$270,459OtherCostOrOtherBasisAmt
Book Value$270,459BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$270,459TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDescAmtAmt
PREPAID ASSESSMENTS$1,530,387
OTHER LIABILITIES$62,640
DEPOSITS$43,255
PAYROLL LIABILITIES$4,143
FieldValueIRS element (for citing)
Total Liability$1,640,425TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$2,499,840TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal$2,499,840RevenueSubtotalAmt
Total Revenue Per Form990$2,499,840TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$2,214,322TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$2,214,322ExpensesSubtotalAmt
Total Expenses Per Form990$2,214,322TotalExpensesPerForm990Amt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 7AELECTION OF THE BOARD OF DIRECTORS IS BY THE MEMBERS OF THE ASSOCIATION.
FORM 990, PAGE 6, PART VI, LINE 11BFORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING THE RETURN AND DETAIL REVIEWED BY THE EXECUTIVE MANAGER AND TREASURER.
FORM 990, PAGE 6, PART VI, LINE 12CTHE ASSOCIATION HAS A CONFLICT OF INTEREST POLICY THAT IS UPDATED ANNUALLY.
FORM 990, PAGE 6, PART VI, LINE 19UPON REQUEST.

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