WESTLAKE ISLAND PROPERTY OWNERS' ASSOC C/O PROPERTY MGMT PROS (EIN 237002952) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

MICHAEL MEISEL

Phone

6612954900

Tax Period

2024-07-01 to 2025-06-30

WESTLAKE ISLAND PROPERTY OWNERS' ASSOC C/O PROPERTY MGMT PROS, founded in 1967, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2024. Revenue surged 102% from the prior year, signaling strong growth momentum. Expenses of $2.7M exceeded revenue, resulting in a 14% operating deficit.

Mission

PURPOSES IS TO PROMOTE THE COMMON GOOD, HEALTH, SAFETY, AND GENERAL WELFARE OF ALL RESIDENTS WITHIN THE COMMUNITY. THE POPULATION OF THE ASSOCIATION IS APPROXIMATELY 1,500. NO GRANTS ARE PROVIDED TO OTHERS. THE ASSOCIATION OWNS AND MAINTANS A VARIETY OF GREENBELTS AND PARK AREAS. ALL FACILITIES ARE AVAILABLE TO RESIDENTS AND THEIR GUESTS ON AN UNRESTRICTED BASIS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,298,287

Program Service Revenue $0

Investment Income $29,508

Other Revenue $88,033

TOTAL REVENUE $2,415,828

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,545,097

Other Expenses $2,744,016

TOTAL EXPENSES $2,744,016

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,415,828	$1,197,778	+1.0%
Expenses	$2,744,016	$1,266,249	+1.2%
Net Income	$-328,188	$-68,471	+3.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MEISEL	PRESIDENT	2.00	Director	$0	$0	$0
ALISON COLBURN	VICE PRESIDENT	2.00	Director	$0	$0	$0
ANDREW KANE	TREASURER	2.00	Director	$0	$0	$0
AUDREY ISRAEL	SECRETARY	2.00	Director	$0	$0	$0
ALAN JEFFERY	MEMBER AT LARGE	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$2,415,828	$2,744,016	$2,564,914	$-328,188
2024	$1,197,778	$1,266,249	$1,097,800	$-68,471
2023	$1,071,264	$881,226	$1,051,992	$190,038
2022	$915,298	$994,005	$867,071	$-78,707
2021	$860,124	$742,541	$883,011	$117,583

WESTLAKE ISLAND PROPERTY OWNERS' ASSOC C/O PROPERTY MGMT PROS