LAKE CAROLINE PROPERTY OWNERS ASSOCIATION INC: Form 990, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
LAKE CAROLINE PROPERTY OWNERS ASSOCIATION INC (EIN 54-0884209)
Tax period
2019-04-01 to 2020-03-31
Filed
2020-08-20
IRS object ID
202042339349300034
Schema version
2019v5.0
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)
Return2020-08-20T14:46:11-05:00ReturnTs
Tax Period End2020-03-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN203094898PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1WC GOLDBERG& CO PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14429 BONNEY ROAD SUITE 420AddressLine1Txt
CityVIRGINIA BEACHCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23462ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2019-04-01TaxPeriodBeginDt

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
ZIP23059ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJEFF HALSAVERPersonNm
Person TitleTREASURERPersonTitleTxt
Phone8044483400PhoneNum
Signature2020-08-05SignatureDt

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonWENDY C GOLDBERG CPAPreparerPersonNm
PTINP00461835PTIN
Phone7572330161PhoneNum
Preparation2020-08-11PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address52.38.98.93IPv4AddressTxt
FieldValueIRS element (for citing)
IP2020-08-20IPDt
IP Tm14:46:11IPTm
IP TimezoneCDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device IdB8D6BC0B0AD80477D910123E154F42ADFD74C222AtSubmissionCreationDeviceId
At Submission Filing Device IdE3C0D6043B7F45B42B83E507A18ED216AFF604C3AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2020-09-23 17:36:50ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJEFF HALSAVERPrincipalOfficerNm
Gross Receipts$2,010,132GrossReceiptsAmt
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 Employee44TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
CY Contributions Grants$0CYContributionsGrantsAmt
CY Program Service Revenue$2,005,193CYProgramServiceRevenueAmt
CY Investment Income$4,939CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
CY Total Revenue$2,010,132CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$877,349CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
CY Other Expenses$1,189,294CYOtherExpensesAmt
CY Total Expenses$2,066,643CYTotalExpensesAmt
CY Revenues Less Expenses-$56,511CYRevenuesLessExpensesAmt
Total Assets EOY$2,161,206TotalAssetsEOYAmt
Total Liabilities EOY$3,272TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances EOY$2,157,934NetAssetsOrFundBalancesEOYAmt
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, 2020.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 EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
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 Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee44EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
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
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

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
DAVID RABABY
EXECUTIVE MA40.00Yes (X)$73,638$0$0
KIM TAYLOR
DIRECTORYes (X)$0$0$0
GEORGE W
DIRECTORYes (X)$0$0$0
JEFF HALSAVER
TREASURER2.00$0$0$0Yes (X)
BRIAN HARLEY
VICE PRESIDE$0$0$0Yes (X)
KATHY MUZBECK
SECRETARY$0$0$0Yes (X)
PATRICIA VANDERLAND
PRESIDENT$0$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$73,638TotalReportableCompFromOrgAmt
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$1,710,277$1,710,277
NEW MEMBER FEES$113,900$113,900
NEW HOME FEE$55,000$55,000
SECURITY DEPOSITS$31,300$31,300
RECREATIONAL FEES$25,169$25,169

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$69,547TotalRevenueColumnAmt
Related Or Exempt Func Income$69,547RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$2,005,193TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,939TotalRevenueColumnAmt
Exclusion$4,939ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,010,132TotalRevenueColumnAmt
Related Or Exempt Func Income$2,005,193RelatedOrExemptFuncIncomeAmt
Exclusion$4,939ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$73,638TotalAmt
Program Services$58,911ProgramServicesAmt
Management And General$14,727ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$683,134TotalAmt
Program Services$683,134ProgramServicesAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$4,536TotalAmt
Program Services$4,536ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$56,187TotalAmt
Program Services$55,063ProgramServicesAmt
Management And General$1,124ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$59,854TotalAmt
Program Services$58,657ProgramServicesAmt
Management And General$1,197ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$93,349TotalAmt
Program Services$93,349ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$50,509TotalAmt
Program Services$25,254ProgramServicesAmt
Management And General$25,255ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$1,078TotalAmt
Program Services$1,078ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$25,484TotalAmt
Program Services$6,369ProgramServicesAmt
Management And General$19,115ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$55,352TotalAmt
Program Services$55,352ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$58,845TotalAmt
Program Services$58,845ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
RESERVE FUND EXPENSES$598,615$598,615
REPAIRS AND MAINTENANCE$117,076$117,076
CAPITAL ITEMS$79,595$79,595
DEPOSIT REFUNDS$30,225$30,225

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$79,166TotalAmt
Program Services$74,140ProgramServicesAmt
Management And General$5,026ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,066,643TotalAmt
Program Services$2,000,199ProgramServicesAmt
Management And General$66,444ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$1,449,908EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
EOY$701,013EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
EOY$10,285EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$2,161,206EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
EOY$3,272EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$3,272EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
EOY$1,456,921EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
EOY$701,013EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$2,157,934EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$2,161,206EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$56,511ReconcilationRevenueExpnssAmt
Method Of Accounting OtherYes (X)MethodOfAccountingOtherInd
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

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
PAYROLL LIABILITIES$3,254
OTHER LIABILITIES$18
FieldValueIRS element (for citing)
Total Liability$3,272TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$2,010,132TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal$2,010,132RevenueSubtotalAmt
Total Revenue Per Form990$2,010,132TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$2,066,643TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$2,066,643ExpensesSubtotalAmt
Total Expenses Per Form990$2,066,643TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE D, PAGE 3, PART XTHE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ASSOCIATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ASSOCIATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBTI). THE ASSOCIATION HAS RECOGNIZED NO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED MARCH 31, 2020. GENERALLY, THE ASSOCIATION'S TAX RETURNS REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE DATE OF FILING.
SCHEDULE D, PAGE 4, PART XII, LINE 2DDEPRECIATION -409,868 BOOK / TAX DEPRECIATION DIFFERENCE 409,868

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 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 REVIWEED BY THE EXECUTIVE MANAGER AND TREASURER.
FORM 990, PAGE 6, PART VI, LINE 12CTHE ASSOCIATION HS A CONFLICT OF INTEREST POLICY THAT IS UPDATED ANNUALLY.
FORM 990, PAGE 6, PART VI, LINE 19UPON REQUEST.
FORM 990, PART XI, LINE 9DEPRECIATION 409,868 BOOK / TAX DEPRECIATION DIFFERENCE -409,868

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