Fl Business Condominiums

Nonprofit profile at a glance

EIN
272853597
IRS 990-EZ coverage
2012–2024
Forms available
Form 990-EZ 2024, Form 990-N 2011
Location
Forest Lake, MN, USA
Phone
6514643231
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$20,000
Expenses
$16,400
Assets
$9,487
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • DAVID ENGELKING (MEMBER)
  • GARY KERKOW (MEMBER)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Condominium owners association

What it reported doing in 2024

Condominium owners association.

Operating model

Revenue model
Membership-supported. 100% 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. Assets have declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Sustainability: 58
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82%; rating input score 82
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 18%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 14.4% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -4.9% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 82% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $16K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.