Centrelake Owners Association

Nonprofit profile at a glance

EIN
330247894
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Irvine, CA, USA
Phone
9494486300
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$300,959
Expenses
$273,767
Assets
$564,328
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • MICHAEL RADEMAKER (CEO)

People named in this filing

  • MICHAEL RADEMAKER (CEO)
  • RAKESH SETH (CFO, SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The specific and primary purposes of the association are to bring about civic betterments and social improvements by providing for the preservation and appearance of the development. The association owns and maintains lake and park areas covering 73 acres located in ontario, California. The park and lake areas are accessible to residents in the surrounding residential areas on an unrestricted basis. Among the general purposes of the association is to promote the common good, health, safety, and general welfare of the community. No grants are provided to others.

What it reported doing in 2025

The association's program services are described in the primary mission statement on schedule o.

Operating model

Revenue model
Membership-supported. 96% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.8%; rating input score 84
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.06; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 12.8% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 83.8% of revenue deployed · 91.3% of spending went to programs
  • Governance: 2 of 2 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $250K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 55/100.