Lakeridge Community Association Inc

Nonprofit profile at a glance

EIN
112112782
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Matawan, NJ, USA
Phone
7324079781
Rating
51
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$214,577
Expenses
$214,901
Assets
$191,914
Liabilities
$1,307

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

Leadership & pay

10 people listed

Executive titles in this filing

  • VINCENT FORRESTER (PRESIDENT)
  • PHILLIP MOORE (VICE PRESIDENT)

People named in this filing

  • BRIDGET HLAVA (TRUSTEE)
  • ERIK DEPALMA (TRUSTEE)
  • PATRICK HOPKINS (TRUSTEE)

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

Community has 315 homes. We support the common areas including a pool, playground, tennis courts, and basketball courts. We provide communtiy events for everyone to enjoy. We sponsor our own swim team for children 5-18.

What it reported doing in 2024

Providing community events and swim team activities for everyone to enjoy.ppol, club, tennis courst, basketball courst and playground, bi-annual newletter, fall activites, kids arts & crafts

Operating model

Revenue model
Membership-supported. 93% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 7
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.6%; rating input score 8
  • Program expense ratio: 7.1%; rating input score 7
  • 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -0.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 16.1% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 15.7% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 7.6% of revenue deployed · 7.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $15K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 4 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.