SPRING LAKES HOMEOWNERS ASSOCIATION

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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

1997

Legal Domicile

Phone

7133297100

Tax Period

2024-01-01 to 2024-12-31

SPRING LAKES HOMEOWNERS ASSOCIATION, founded in 1997, is a small nonprofit in the Housing & Shelter sector that reported $882K in total revenue in fiscal year 2024. Expenses of $815K left a modest 8% surplus.

Mission

THE ASSOCIATION FORMED TO ACT AS A MANAGEMENT BODY TO PROVIDE FOR MAINTENANCE, PRESERVATION, AND ARCHITECTURAL CONTROL OF THE REAL PROPERTY OF OWNERS IN COMMON AND PROPERTY OWNED INDIVIDUALLY, IN SPRING LAKES HOMEOWNERS SUBDIVISION, IN HARRIS COUNTY TEXAS.

Program Service Accomplishments

Program 1

Expenses: $742,507

THE ASSOCIATION MAINTAINS AND INSTALLS IMPROVEMENTS TO ALL THE COMMON AREAS INCLUDING THE POOL, TENNIS COURTS, PLAYGROUND, LAKE AND ENTRANCES; PROVIDES UTILITIES INCLUDING STREET LIGHTS FOR THE...

THE ASSOCIATION MAINTAINS AND INSTALLS IMPROVEMENTS TO ALL THE COMMON AREAS INCLUDING THE POOL, TENNIS COURTS, PLAYGROUND, LAKE AND ENTRANCES; PROVIDES UTILITIES INCLUDING STREET LIGHTS FOR THE SAFETY OF THE RESIDENTS AND VISITORS TO THE AREA;PROMOTES A SAFE ENVIRONMENT BY MAINTAINING A PATROL AND ACCESS SYSTEM; ALL FOR THE HEALTH, SAFETY AND WELFARE OF 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $704,649

Investment Income $89,868

Other Revenue $87,212

TOTAL REVENUE $881,729

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $742,507

Other Expenses $814,669

TOTAL EXPENSES $814,669

Year-over-Year Comparison

	2024	2023	Change
Revenue	$881,729	$848,815	+0.0%
Expenses	$814,669	$803,545	+0.0%
Net Income	$67,060	$45,270	+0.5%

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

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
Lisa Friels	Director	2.00	Director	$0	$0	$0
Mark Riddle	Vice President	2.00	Officer Director	$0	$0	$0
Matt Maggio	Treasurer	2.00	Officer Director	$0	$0	$0
Nicholas Garcia	President	2.00	Officer Director	$0	$0	$0
Eric Fontaine	Secretary	2.00	Officer	$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	$881,729	$814,669	$2,605,161	$67,060
2023	$848,815	$803,545	$2,572,834	$45,270
2022	$784,238	$960,709	$2,570,813	$-176,471
2021	$715,690	$472,317	$2,767,432	$243,373
2020	$725,004	$539,329	$2,442,669	$185,675