Acquilus Condominium Assn INC

Jacksonville Beach, FLUnknown exempt organizationEIN 20-1428308

Administer the operation and management of 48 condominiums known as acquilus condominiums

1¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Is it filing on time?
FY2025
latest Form 990
IRS e-file · Filing history
Is it financially stable?
4 of 6
years in the black
Pt I · Ln 19 · 6 filings
How much reaches the programs?
0.5%
of spending
Pt IX · Ln 25 · col B
Do they have reserves?
11 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Do they carry debt?
$0
liabilities
Pt X · Ln 26
Who oversees it?
48
independent of 48 voting board members
Pt VI · Ln 1a–1b
Revenue
$860K
-1% vs prior year
Spent
$645K
To programs
0.5%
Net assets
$608K
By yearFY2020–FY2025
Revenue
$860K
FY2025▼ -1%
Revenue by fiscal year
FY2020$466K
FY2021$461K
FY2022$476K
FY2023$502K
FY2024$871K
FY2025$860K
Expenses
$645K
FY2025▲ +13%
Expenses by fiscal year
FY2020$451K
FY2021$550K
FY2022$474K
FY2023$593K
FY2024$570K
FY2025$645K
Net assets
$608K
FY2025▲ +55%
Net assets by fiscal year
FY2020$272K
FY2021$182K
FY2022$185K
FY2023$93K
FY2024$393K
FY2025$608K

From the FY2025 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CAcquilus Condominium Assn INC
EINHdr · item D20-1428308
Exempt statusHdr · item I501(c)(3) · active
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CJacksonville Beach, FL
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.01 Management & general $0.99
Program services1%$3K
Management & general99%$642K
Total functional expensesLn 25$645K

Financial health

Is it on solid ground?

Surplus margin
+25%
revenue over expenses, this year▼ -27% vs prior filing year
Program spending
0.5%
of expenses reach programs▲ +7% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$608K
FY2025▲ +55%
Total assets by fiscal year
FY2020$272K
FY2021$182K
FY2022$185K
FY2023$93K
FY2024$393K
FY2025$608K
Total liabilities
$0
FY2025
Total liabilities by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2025$0
Revenue less expensesPt I · Ln 19$215K
Total assetsPt X · Ln 16$608K
Program-expense ratioPt IX · col B0.5%
Voting members of governing bodyPt I · Ln 348
Independent voting membersPt I · Ln 448

Balance Sheet

Part X · end of year
CashLn 1$606K
Total assetsLn 16$608K
Total liabilitiesLn 26$0
Total net assetsLn 32$608K
Months of cash on handcomputed11.3

Statement of Revenue

Part VIII
Contributions & grants$824K · 96%
Investment income$17K · 2%
Other revenue$19K · 2%
Contributions & grants96%$824K
Investment income2%$17K
Other revenue2%$19K
Total revenueLn 12$860K

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $606K · Operating expenses/yr $645K
11.3 months
Where the money goes
Program services
Program services $3K · Total expenses $645K
0.5%
Management & General
Management & general $642K · Total expenses $645K
99%
Fundraising
Fundraising $0 · Total expenses $645K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $714K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $824K · Total revenue $860K
96%
Government reliance
Government grants — · Total revenue $860K
—
Earned-income share
Program service revenue $0 · Total revenue $860K
0%
Investment reliance
Investment income $17K · Total revenue $860K
+2%
Program self-sufficiency
Program service revenue $0 · Total expenses $645K
0%
Growth & trend
Revenue growth (YoY)
This year $860K · Prior year $871K
-1%
Revenue CAGR
FY2020 $466K · FY2025 $860K
+13%
Net-asset trend (YoY)
End of year $608K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $860K · Expenses $645K
+25%
Liabilities-to-Assets
Total liabilities — · Total assets $608K
—
Net-asset ratio
Net assets $608K · Total assets $608K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $608K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Wayne Foret' · Reported title PRESIDENT/D · Highest reported compensation $0 · Total expenses $645K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $645K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 0.5%——
Overhead ratio 99%——
Fundraising cost ratio 0%——
Revenue growth -1%——
Legal fee ratio 0.4%——
Accounting fee ratio 0.6%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President/D
$0Pt VII · Sec A
Secretarry/O
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer/O
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
See Acquilus Condominium Assn INC executive salaries →

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Governance & Policies

Part VI
  • 48Voting board membersPt VI · Ln 1a
  • 48Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Manages and operates 48 condominiums.

Provided by the organization

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest Viewing $860K$645K-1% 990 PDF
FY2024 $871K$570K+74% 990 PDF
FY2023 $502K$593K+5% 990 PDF
FY2022 $476K$474K+3% 990 PDF
FY2021 $461K$550K-1% 990 PDF
FY2020 $466K$451K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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