Surf Cottages Homeowners Association Ii

Nonprofit profile at a glance

EIN
900729046
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-T 2024
Location
Seaside Park, NJ, USA
Phone
2019069159
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Parks and Playgrounds

Reported finances

Revenue
$248,035
Expenses
$115,131
Assets
$386,415
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DANIEL MITCHELL (President)
  • RICHARD AMATO (Vice President)

People named in this filing

  • DANIEL MITCHELL (President)
  • RICHARD AMATO (Vice President)
  • JOSEPH KELLY (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

Taxpayer mission and operational objectives include the perpetual supervision, maintenance and care for the easement beachfront in ortley beach, township of toms river, nj whose enjoyment and use is open annually to all members of the communitypurchasing and otherwise displaying the taxpayers annual beach badge(s) as wellas to undertake, by independent third party contract, the erection and/or construction of underground water pipelines and all necessary road maintenanceand/or paving resulting therefrom in ortley beach, township of toms river, njupon satisfactory completion of the identified construction, under a negotiated agreement between the taxpayer and the township of toms river and their related water provider/servicer, said water lines to be legally transferred unrestricted in any fashion and at no cost or remuneration to and /or from the taxpayer to the township of toms river for said townships perpetual maintenance, operation and oversight.

What it reported doing in 2024

Road expense-total roads repaired-9, 7 roads are gravel (unpaved). The gravel on three roads was removed to a depth of 6 inches and replaced with a new product. The remaining 4 gravel roads are scraped and leveled three times per year. Phase i of the taxpayers stated mission relative to their erection and construction of underground water pipelines and all necessary road maintenance and/or paving resulting therefrom in ortley beach, toms river township, nj to be legally transferred to the township via their related water provider/servcer was completed as undetaken during 2011. In light of superstorm sandy, certain of the completed pipelines and/or paving previously completed required repair which the txpayer undertook in 2013-15.remedial efforts continue in this regard by the taxpayer who is working in tandem with dover township as the entire jersey shore area strives to recover from the storms wrath and "restore the shore".in spite of superstorm sandy, the taxpayer remains basically on track to complete the total project planned and originally submitted with their filed and approved form 1023.as stated above , the taxpayers annual supervision, maintenance and care efforts for the easement beachfront in ortley beach, township of toms river, nj as stipulated in their form 1023 as filed and accepted was redirected in 2013 as a result of superstorm sandy. The taxpayer's efforts were redirected towards the basic reconstruction of the easement beachfront including the construction of dunes thereon aimed to provide beachfront protection from future storm damage and/or erosion. Funds to cover such construction and/or replenishment were obtained through public donations, dues, and historical funds raised from the sale of beach badges as originally stipulated in the referenced form 1023.

Operating model

Revenue model
Earned-program. 97% 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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 82
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.1%; rating input score 45
  • Program expense ratio: 100%; rating input score 100
  • 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 53.6%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 3.36; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.1% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 17.4% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 45.1% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 7 board members independent · 0 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $115K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 2 filed schedules
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.