Shongum Lake Property Owners Assoc
Shongum Lake Property Owners Assoc: Declining Assets, Stable Revenue, and High Liabilities
EIN: 221683315 · Totowa, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $516K |
| Total Expenses | $747K |
| Program Spending | 70% |
| Net Assets | $295K |
| Transparency Score | 65/100 |
Is Shongum Lake Property Owners Assoc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Shongum Lake Property Owners Assoc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Shongum Lake Property Owners Assoc
Shongum Lake Property Owners Assoc (EIN: 221683315) is a nonprofit organization based in Totowa, NJ. The organization reported total revenue of $516K and total assets of $590K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Shongum Lake Property Owners Assoc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Shongum Lake Property Owners Assoc is a small nonprofit that has been operating for 51 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $512K |
| Total Expenses | $747K |
| Surplus / Deficit | $-234,767 |
| Total Assets | $590K |
| Total Liabilities | $295K |
| Net Assets | $295K |
| Operating Margin | -45.8% |
| Debt-to-Asset Ratio | 50.0% |
| Months of Reserves | 9.5 months |
Financial Health Grade: C
In 2023, Shongum Lake Property Owners Assoc reported a deficit of $235K with expenses exceeding revenue, holds 9.5 months of operating reserves (strong position), has a debt-to-asset ratio of 50.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Shongum Lake Property Owners Assoc's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.5% | +48.7% | -14.3% |
| 2022 | +15.1% | +27.9% | -19.6% |
| 2021 | -19.4% | -14.5% | -11.5% |
| 2020 | +3.6% | +5.5% | -9.2% |
| 2019 | -10.2% | +8.1% | +2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1975 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Shongum Lake Property Owners Assoc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Shongum Lake Property Owners Assoc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $235K, with expenses exceeding revenue.
- Debt-to-asset ratio: 50.0%.
Executive Compensation Analysis
Executive compensation is not disclosed in the provided filings, suggesting it is below the IRS reporting threshold for individual officers.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Shongum Lake Property Owners Assoc's IRS 990 filings:
- Total assets have decreased from $1,066,337 in 2019 to $590,226 in 2023, a significant decline.
- Liabilities consistently represent a large portion of assets, reaching $295,113 in 2023 against $590,226 in assets.
- The organization's net assets have been in a consistent downward trend over the past 7 years.
Strengths
The following positive indicators were identified for Shongum Lake Property Owners Assoc:
- Revenue has remained relatively stable over the past several years, hovering around $500,000 annually.
- The organization has maintained a consistent operational presence for at least 8 years based on available filings.
Frequently Asked Questions about Shongum Lake Property Owners Assoc
Is Shongum Lake Property Owners Assoc a legitimate charity?
Based on AI analysis of IRS 990 filings, Shongum Lake Property Owners Assoc (EIN: 221683315) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Shongum Lake Property Owners Assoc spend its money?
Shongum Lake Property Owners Assoc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Shongum Lake Property Owners Assoc tax-deductible?
Shongum Lake Property Owners Assoc is registered as a tax-exempt nonprofit (EIN: 221683315). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Shongum Lake Property Owners Assoc's spending goes to programs?
Shongum Lake Property Owners Assoc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Shongum Lake Property Owners Assoc located?
Shongum Lake Property Owners Assoc is headquartered in Totowa, New Jersey and files with the IRS under EIN 221683315.
How many years of IRS 990 filings does Shongum Lake Property Owners Assoc have?
Shongum Lake Property Owners Assoc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $516K in total revenue.
What does Shongum Lake Property Owners Assoc do?
Shongum Lake Property Owners Assoc is a nonprofit organization in the Unknown sector, located in Totowa, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Shongum Lake Property Owners Assoc have?
Shongum Lake Property Owners Assoc reported total revenue of $515,548. Based on 13 IRS 990 filings on record.
What are Shongum Lake Property Owners Assoc's total assets?
Shongum Lake Property Owners Assoc holds total assets of $590,226 as reported in IRS 990 filings.
Where is Shongum Lake Property Owners Assoc located?
Shongum Lake Property Owners Assoc is based in Totowa, New Jersey.
What is Shongum Lake Property Owners Assoc's EIN?
Shongum Lake Property Owners Assoc's Employer Identification Number (EIN) is 221683315. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Shongum Lake Property Owners Assoc?
Shongum Lake Property Owners Assoc is classified under NTEE code Unknown (Unknown).
Is Shongum Lake Property Owners Assoc a registered 501(c)(3)?
Shongum Lake Property Owners Assoc appears in IRS records (EIN: 221683315). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Shongum Lake Property Owners Assoc file IRS Form 990?
Yes, Shongum Lake Property Owners Assoc has 13 IRS Form 990 filings on record. The most recent covers tax period 202303.
What was Shongum Lake Property Owners Assoc's revenue in 2023?
In the 202303 filing period, Shongum Lake Property Owners Assoc reported total revenue of $512,398, total expenses of $747,165, and net assets of $590,226.
Is Shongum Lake Property Owners Assoc's revenue growing or declining?
Shongum Lake Property Owners Assoc's revenue is relatively stable. Revenue went from $490,225 (202203) to $512,398 (202303), a +4.5% change. Based on 13 filings on record.
What is Shongum Lake Property Owners Assoc's most recent 990 filing?
The most recent IRS Form 990 filing for Shongum Lake Property Owners Assoc covers tax period 202303. It shows revenue of $512,398, expenses of $747,165, total assets of $590,226, and liabilities of $295,113.
How much does Shongum Lake Property Owners Assoc spend on programs vs administration?
Based on IRS 990 analysis, Shongum Lake Property Owners Assoc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Shongum Lake Property Owners Assoc a trustworthy charity?
Based on AI analysis of IRS 990 data, Shongum Lake Property Owners Assoc shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Shongum Lake Property Owners Assoc?
The following concerns were identified: Total assets have decreased from $1,066,337 in 2019 to $590,226 in 2023, a significant decline.. Liabilities consistently represent a large portion of assets, reaching $295,113 in 2023 against $590,226 in assets.. The organization's net assets have been in a consistent downward trend over the past 7 years.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Shongum Lake Property Owners Assoc's strengths?
Positive indicators for Shongum Lake Property Owners Assoc include: Revenue has remained relatively stable over the past several years, hovering around $500,000 annually.. The organization has maintained a consistent operational presence for at least 8 years based on available filings.. These findings are derived from AI analysis of the organization's financial filings.
How does Shongum Lake Property Owners Assoc compensate executives?
Executive compensation is not disclosed in the provided filings, suggesting it is below the IRS reporting threshold for individual officers. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is driving the consistent decline in total assets, and how is the organization planning to address this trend?
The data shows a steady decrease in total assets from $1,066,337 in 2019 to $590,226 in 2023. Without more detailed financial statements, it's unclear if this is due to asset depreciation, divestment, or operating losses, but it warrants further investigation into asset management strategies.
Given the high proportion of liabilities to assets, what is the organization's strategy for managing its debt and improving its financial solvency?
Liabilities have consistently been a significant portion of total assets, for example, $295,113 in liabilities against $590,226 in assets in 2023. This suggests a need for a clear strategy to reduce debt or increase asset base to improve long-term financial health and reduce risk.
Filing History
IRS 990 filing history for Shongum Lake Property Owners Assoc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Shongum Lake Property Owners Assoc's revenue has grown by 43.1%, moving from $358K to $512K. Total assets decreased by 13.2% over the same period, from $680K to $590K. Total functional expenses rose by 147.5%, from $302K to $747K. In its most recent filing year (2023), Shongum Lake Property Owners Assoc reported a deficit of $235K, with expenses exceeding revenue. The organization holds $295K in liabilities against $590K in assets (debt-to-asset ratio: 50.0%), resulting in net assets of $295K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $512K | $747K | $590K | $295K | — | View 990 |
| 2022 | $490K | $502K | $689K | $344K | — | View 990 |
| 2021 | $426K | $393K | $856K | $428K | — | View 990 |
| 2020 | $528K | $460K | $968K | $484K | — | View 990 |
| 2019 | $510K | $436K | $1.1M | $580K | — | View 990 |
| 2018 | $568K | $403K | $1.0M | $632K | — | View 990 |
| 2017 | $467K | $336K | $868K | $687K | — | View 990 |
| 2016 | $414K | $374K | $777K | $749K | — | View 990 |
| 2015 | $425K | $369K | $811K | $892K | — | View 990 |
| 2014 | $375K | $328K | $824K | $1.0M | — | View 990 |
| 2013 | $406K | $336K | $768K | $1.1M | — | View 990 |
| 2012 | $372K | $288K | $747K | $1.2M | — | View 990 |
| 2011 | $358K | $302K | $680K | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $512K, expenses of $747K, and assets of $590K (revenue +4.5% year-over-year).
- 2022: Revenue of $490K, expenses of $502K, and assets of $689K (revenue +15.1% year-over-year).
- 2021: Revenue of $426K, expenses of $393K, and assets of $856K (revenue -19.4% year-over-year).
- 2020: Revenue of $528K, expenses of $460K, and assets of $968K (revenue +3.6% year-over-year).
- 2019: Revenue of $510K, expenses of $436K, and assets of $1.1M (revenue -10.2% year-over-year).
- 2018: Revenue of $568K, expenses of $403K, and assets of $1.0M (revenue +21.6% year-over-year).
- 2017: Revenue of $467K, expenses of $336K, and assets of $868K (revenue +12.8% year-over-year).
- 2016: Revenue of $414K, expenses of $374K, and assets of $777K (revenue -2.6% year-over-year).
- 2015: Revenue of $425K, expenses of $369K, and assets of $811K (revenue +13.4% year-over-year).
- 2014: Revenue of $375K, expenses of $328K, and assets of $824K (revenue -7.6% year-over-year).
- 2013: Revenue of $406K, expenses of $336K, and assets of $768K (revenue +9.1% year-over-year).
- 2012: Revenue of $372K, expenses of $288K, and assets of $747K (revenue +3.9% year-over-year).
- 2011: Revenue of $358K, expenses of $302K, and assets of $680K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Shongum Lake Property Owners Assoc:
Data Sources and Methodology
This transparency report for Shongum Lake Property Owners Assoc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.