Summer Lakes Homeowners Association Inc
Summer Lakes Homeowners Association Inc consistently maintains financial surpluses and growing assets with no reported officer compensation.
EIN: 202772376 · Dallas, TX · NTEE: L50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $932K |
| Total Expenses | $936K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.1M |
| Transparency Score | 90/100 |
Is Summer Lakes Homeowners Association Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Summer Lakes Homeowners Association Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Summer Lakes Homeowners Association Inc
Summer Lakes Homeowners Association Inc (EIN: 202772376) is a nonprofit organization based in Dallas, TX, classified under NTEE code L50. The organization reported total revenue of $932K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Summer Lakes Homeowners Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Summer Lakes Homeowners Association Inc is a small nonprofit that has been operating for 13 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $936K |
| Surplus / Deficit | +$82K |
| Total Assets | $1.3M |
| Total Liabilities | $249K |
| Net Assets | $1.1M |
| Operating Margin | 8.1% |
| Debt-to-Asset Ratio | 18.7% |
| Months of Reserves | 17.1 months |
Financial Health Grade: A
In 2023, Summer Lakes Homeowners Association Inc reported a surplus of $82K with revenue exceeding expenses, holds 17.1 months of operating reserves (strong position), has a debt-to-asset ratio of 18.7% (very low leverage).
Financial Trends
Over 6 years of filings (2018–2023), Summer Lakes Homeowners Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.8% | -7.5% | +7.9% |
| 2022 | -10.7% | +8.6% | +2.0% |
| 2021 | +1.7% | +2.1% | +17.1% |
| 2020 | +26.5% | +11.4% | +42.9% |
| 2019 | -8.0% | -7.0% | -6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2013 |
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 Summer Lakes Homeowners Association Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Summer Lakes Homeowners Association Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $82K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is likely volunteer-based or compensated through other means not classified as officer compensation, which is highly efficient for an organization of its size with over $1 million in annual revenue.
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.
Strengths
The following positive indicators were identified for Summer Lakes Homeowners Association Inc:
- Consistent financial surpluses, with revenue exceeding expenses in most periods (e.g., $1,018,146 revenue vs. $935,922 expenses in 2023).
- Steady growth in assets from $777,868 in 2018 to $1,336,611 in 2023, indicating strong financial management.
- 0% reported officer compensation across all filings, suggesting high operational efficiency and potential volunteer leadership.
- Manageable liabilities relative to assets, demonstrating a healthy balance sheet.
- Consistent filing history over six periods, indicating good governance and transparency.
Frequently Asked Questions about Summer Lakes Homeowners Association Inc
Is Summer Lakes Homeowners Association Inc a legitimate charity?
Summer Lakes Homeowners Association Inc (EIN: 202772376) is a registered tax-exempt nonprofit based in Texas. Our AI analysis gives it a Mission Score of 90/100. It has 6 years of IRS 990 filings on record. Total revenue: $932K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Summer Lakes Homeowners Association Inc spend its money?
Summer Lakes Homeowners Association Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Summer Lakes Homeowners Association Inc tax-deductible?
Summer Lakes Homeowners Association Inc is registered as a tax-exempt nonprofit (EIN: 202772376). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Summer Lakes Homeowners Association Inc CEO make?
Summer Lakes Homeowners Association Inc's highest-compensated officer earns $1 annually. The organization reported $932K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Summer Lakes Homeowners Association Inc's spending goes to programs?
Summer Lakes Homeowners Association Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Summer Lakes Homeowners Association Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Summer Lakes Homeowners Association Inc is above average for NTEE category L50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Summer Lakes Homeowners Association Inc located?
Summer Lakes Homeowners Association Inc is headquartered in Dallas, Texas and files with the IRS under EIN 202772376. It is classified under NTEE code L50.
How many years of IRS 990 filings does Summer Lakes Homeowners Association Inc have?
Summer Lakes Homeowners Association Inc has 6 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 $932K in total revenue.
How does Summer Lakes Homeowners Association Inc manage to operate without officer compensation?
The consistent 0% officer compensation reported suggests that the organization relies heavily on volunteer leadership or that compensation for key personnel is categorized differently within their financial statements, potentially as general administrative expenses rather than specific officer salaries.
What are the primary sources of revenue for the association?
As a homeowners association, the primary sources of revenue are typically member dues and assessments, which are used to cover operational costs and maintain common areas.
How does the organization's asset growth compare to its liabilities?
The organization's assets have grown significantly from $777,868 in 2018 to $1,336,611 in 2023, while liabilities have remained relatively stable and significantly lower than assets (e.g., $249,401 in 2023), indicating a strong financial position.
Filing History
IRS 990 filing history for Summer Lakes Homeowners Association Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Summer Lakes Homeowners Association Inc's revenue has grown by 6.5%, moving from $956K to $1.0M. Total assets increased by 71.8% over the same period, from $778K to $1.3M. Total functional expenses rose by 6.3%, from $881K to $936K. In its most recent filing year (2023), Summer Lakes Homeowners Association Inc reported a surplus of $82K, with revenue exceeding expenses. The organization holds $249K in liabilities against $1.3M in assets (debt-to-asset ratio: 18.7%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $936K | $1.3M | $249K | — | View 990 |
| 2022 | $1.0M | $1.0M | $1.2M | $363K | — | — |
| 2021 | $1.1M | $932K | $1.2M | $343K | — | View 990 |
| 2020 | $1.1M | $913K | $1.0M | $314K | — | — |
| 2019 | $880K | $819K | $726K | $243K | — | View 990 |
| 2018 | $956K | $881K | $778K | $230K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $936K, and assets of $1.3M (revenue +0.8% year-over-year).
- 2022: Revenue of $1.0M, expenses of $1.0M, and assets of $1.2M (revenue -10.7% year-over-year).
- 2021: Revenue of $1.1M, expenses of $932K, and assets of $1.2M (revenue +1.7% year-over-year).
- 2020: Revenue of $1.1M, expenses of $913K, and assets of $1.0M (revenue +26.5% year-over-year).
- 2019: Revenue of $880K, expenses of $819K, and assets of $726K (revenue -8.0% year-over-year).
- 2018: Revenue of $956K, expenses of $881K, and assets of $778K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Summer Lakes Homeowners Association Inc:
Data Sources and Methodology
This transparency report for Summer Lakes Homeowners Association Inc 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.