PARK LAKES PROPERTY OWNERS ASSOCIATION INC co STERLING ASSOC SERVICES (EIN 331110467) - 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

2004

Legal Domicile

Phone

8326784500

Tax Period

2023-01-01 to 2023-12-31

PARK LAKES PROPERTY OWNERS ASSOCIATION INC co STERLING ASSOC SERVICES, founded in 2004, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $1.2M exceeded revenue, resulting in a 11% operating deficit.

Mission

Civic & Social Welfare Organization - Promoting the common good and general welfare of the public and members of the community through the maintenance and management of the Association and the property, and providing services to the community.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,073,182

Investment Income $2,757

Other Revenue $2,896

TOTAL REVENUE $1,078,835

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,139,468

Other Expenses $1,193,965

TOTAL EXPENSES $1,193,965

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,078,835	$977,469	+0.1%
Expenses	$1,193,965	$1,391,869	-0.1%
Net Income	$-115,130	$-414,400	-0.7%

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

N/A

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
CARLA WEST	Vice President	2.00	Officer Director	$0	$0	$0
THOMASINA BURNS	President	2.00	Officer Director	$0	$0	$0
KENNETHA S TOLBERT	Sec/Treas	2.00	Officer 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
2024	No data	No data	No data	No data
2023	$1,078,835	$1,193,965	$901,983	$-115,130
2022	$977,469	$1,391,869	$734,592	$-414,400
2021	$1,482,474	$1,392,474	$1,142,203	$90,000
2021	$1,525,288	$1,360,495	$1,215,494	$164,793
2020	$1,646,693	$1,563,498	$2,123,927	$83,195
2019	$1,817,888	$1,763,175	$1,752,462	$54,713

PARK LAKES PROPERTY OWNERS ASSOCIATION INC co STERLING ASSOC SERVICES