Lake Thunderbird Owners Assoc

Nonprofit profile at a glance

EIN
751328277
IRS 990-EZ coverage
2021–2023
Forms available
Form 990-EZ 2023, Form 990-N 2020
Location
Smithville, TX, USA
Phone
8156853238
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeowners & Tenants Associations

Reported finances

Revenue
$51,920
Expenses
$54,613
Assets
$238,869

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • JOSEPH LANDER (PRESIDENT)
  • LEA CUNDY (VICE PRESIDENT)

People named in this filing

  • JOSEPH LANDER (PRESIDENT)
  • WILLIAM AVERY (SECRETARY)
  • MICHAEL DANTONIO (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-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lake thunderbird owners association provides maintenance of common areas (community center, lakes, dams, park) and provides lighting for streets of neighborhood.

What it reported doing in 2023

Funds were used to maintain and repair community center, to pay for street lights for the neighborhood, and to maintain common areas. Common areas include two lakes, two dams, properties held by the association, and entry to neighborhood. Expenses also included operating expenses to announce and promote semi-annual meetings, to erect new signage at neighborhood entry, and to address legal concerns regarding the rules, responsibilities and authority of the association. Surplus funds are being set aside for the renovation of the park/pool area. These funds are expected to be used to renovate this area during fiscal year 2023.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -5.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 4.37; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 8.2% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: -51.2% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 74.6% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $55K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2021 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.