Hills of Lakeway Property Owners Association Inc
Nonprofit profile at a glance
- EIN
- 742248353
- IRS 990 coverage
- 2019–2023
- Forms available
- Form 990 2023
- Location
- The Hills, TX, USA
- Phone
- 5122616845
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Homeowners & Tenants Associations
Reported finances
- Revenue
- $1,562,707
- Expenses
- $1,492,790
- Assets
- $2,621,602
- Liabilities
- $2,363,683
Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- THOMAS HARRELSON (PRESIDENT)
People named in this filing
- THOMAS HARRELSON (PRESIDENT)
- MAUREEN FRANZ (DIRECTOR)
- MARK WOLSTROMER (TREASURER)
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 2023. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The hills of lakeway property owner's association, inc. Is a mutual benefit non-profit corporation formed and operated under the laws of the state of Texas. The hills of lakeway property owner's association, inc. Is a self- supporting community located in Texas. The community of the hills of lakeway property owner's association, inc. Consists of 1,086 residential lots comprising approximately 678 acres, and some 2,500 residents, and common areas consisting of 16 miles of roads, related street lights, and security gates. The municipality of "the village of the hills" encompasses virtually the same geographic area as the association, including 100% of the 678 acres of the association, plus an additional four acres outside the association. Located within the association boundaries is a private golf club, the hills country club, that is owned and managed by clubcorp. This golf club is not part of the association itself. The golf club memberships are available to the general public, so the
What it reported doing in 2023
The association is primarily engaged in promoting the common good and general welfare of the residents of the hills of lakeway property owner's association, inc. And surrounding areas. The association lessens the burdens of government by conducting activities such as road maintenance, private patrol service and entrance gates and common areas.
Operating model
- Revenue model
- Membership-supported. 80% 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: 87
- Transparency & Controls: 90
- Accountability: 88
- Sustainability: 52
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.8%; rating input score 97
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 4.5%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 1.76; rating input score 61; 61st percentile among comparable filings
- Liabilities to assets ratio: 0.9; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 4.9% per year; rating input score 100; 44th percentile among comparable filings
- Revenue growth: 4.3% per year; rating input score 100; 41st percentile among comparable filings
- Asset growth: 0.1% per year; rating input score 100; 19th percentile among comparable filings
Details
- Where the money goes: 96.8% of revenue deployed · 100% of spending went to programs
- Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $1.5M in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 19 of 19 current checks pass
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2019 to 2023
- 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: 2 of 7 not reported.
- Review — Sustainability: Operating margin scored 50/100.
- High — Sustainability: Liabilities to assets ratio scored 7/100.