Towne Lakes Townhomes Homeowners Assocation

Nonprofit profile at a glance

EIN
432063827
IRS 990-EZ coverage
2019–2019
Forms available
Form 990-EZ 2019
Location
Elk River, MN, USA
Phone
6124838533
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$123,724
Expenses
$108,375
Assets
$228,206

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Wes Holland (President)

People named in this filing

  • Wes Holland (President)
  • Scott Wallace (Treasurer)
  • Kathy Engstrom (Secretary)

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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Manage townhouse property

What it reported doing in 2019

Replaced several driveways

Operating model

Revenue model
Membership-supported. 99% 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

SUPPORTED - 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 total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 82
  • Sustainability: 62
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.2%; rating input score 47
  • Program expense ratio: 53.4%; rating input score 53

Transparency & Controls

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

Sustainability

  • Operating margin: 12.4%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 2.11; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 47.2% of revenue deployed · 53.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $58K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 5 of 6 current checks pass · 1 finding to review
  • Schedules: 1 filed schedules
  • Contacts: How to reach this organization
  • 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 47/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • Moderate — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.