Lake Forest Ii Master Hoa

Nonprofit profile at a glance

EIN
952921294
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Lake Forest, CA, USA
Phone
9495860860
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,742,242
Expenses
$5,347,162
Assets
$11,732,982
Liabilities
$397,302

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JAMES RICHERT (PRESIDENT)

People named in this filing

  • JAMES RICHERT (PRESIDENT)
  • PAUL COULTER (DIRECTOR)
  • THOMAS LUDDEN (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide the maintenance, preservation and architectural control of the lots and common areas of the association, and to promote the health, safety and welfare of its residents.

What it reported doing in 2024

Lake forest ii master homeowners association (established in 1970) is a private planned community of 3,436 homes located in the city of lake forest, California. The association provides common good and general welfare for the residents. The association provides maintenance for a lake, greenbelt areas, parks and recreational facilities. The association also provides for the architectural integrity of the community.

Operating model

Revenue model
Earned-program. 68% of the money available for current operations came from fees and other program revenue.
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: 74
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 65
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 86.5%; rating input score 86
  • 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass

Sustainability

  • Operating margin: 6.9%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 2.19; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 86.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $4.6M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $556K reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Growth: Asset growth scored 0/100.