Fayson Lakes Association FY2021 filing

Not tax-deductible

Kinnelon, NJ501(c)(7)Since 1930EIN 22-1468840Revenue $478K in FY2021

On file with the IRSfaysonlakes.org10 Clubhouse Trl, 07405-2802 · Kinnelon, NJTax-exempt since May 1975

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Provide water and beach recreation to lake community

58¢ of each $1 spent went to programs.
$25K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $122K a year · 22% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
58%
of spending
Worth a look: 58% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$25K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$807K
62% of total assets
Fine: liabilities are 62% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$478K
Spent
$395K
To programs
58%
Net assets
$503K
By yearFY2021–FY2026
Revenue
$478K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$478K
FY2022$529K
FY2023$535K
FY2024$558K
FY2025$583K
FY2026$608K
Expenses
$395K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$395K
FY2022$404K
FY2023$395K
FY2024$428K
FY2025$455K
FY2026$485K
Net assets
$503K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$503K
FY2022$629K
FY2023$769K
FY2024$876K
FY2025$1.0M
FY2026$1.1M

From the FY2021 Form 990 (year ending February 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in May 1975.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

58 cents of each dollar spent went to programs.

Program services 58% · $228K Management & general 42% · $166K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $25K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Business Manager
$22,833Pt VII · Sec A
Maintenance
$2,640Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2026FY2025FY2024FY2023FY2022FY2021
Dorota Rogulska$25,000$19,806————
Cathy Luisi———$1,360$24,000$22,833
Ashlee Devers——$23,000———
Ashley Devers———$21,500——
John Woodruff$2,640$2,640$2,640$2,640$2,640$2,640

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers water and beach recreation to a lakeside community.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Provide water and beach recreation to the lakeside community

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$478K
Ln 12
Gifts and grantsLn 1h$477K
Investment incomeLn 3$424
Money outPt IX
$395K
Ln 25
Programscol B$228K
Managementcol C$166K
Owns and owesPt X
$503K
net assets · Ln 32
Cash and savingsLn 1–2$322K
Total assetsLn 16$1.3M
LiabilitiesLn 26$807K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$477K
Investment incomeLn 3$424
Gains on assetsLn 7$0
Total revenueLn 12$478K
Assets in detailPt X, end of year
CashLn 1$55K
SavingsLn 2$267K
Cash and savings togetherLn 1–2$322K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$988K
Other assetsLn 15$0
Total assetsLn 16$1.3M
LiabilitiesLn 26$807K
Net assetsLn 32$503K
OperationsPt I, VI
EmployeesI 545
Fiscal year endsHeaderFebruary
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$233K$322K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$951K$988K
Total assetsLn 16$1.2M$1.3M
LiabilitiesLn 26$764K$807K
Net assetsLn 32$420K$503K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$25K$25K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$89K$89K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$10K$8K$2K
Management feesLn 11a$0
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$3K$3K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$5K$5K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$15K$15K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$58K$58K
InsuranceLn 23$55K$55K
Other expenses (24a–d)Ln 24$88K$58K$30K
All other expensesLn 24e$42K$15K$27K
Total functional expensesLn 25$395K$228K$166K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $608K$485K$122K$1.1M 990 PDF
FY2025 $583K$455K$129K$1.0M 990 PDF
FY2024 $558K$428K$131K$876K 990 PDF
FY2023 $535K$395K$140K$769K 990 PDF
FY2022 $529K$404K$126K$629K 990 PDF
FY2021 Viewing $478K$395K$83K$503K 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
See the full FY2021 990 (6 parts)
Part I · Summary $477,746 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $473,577$477,322
I-9 Program service revenue$0
I-10 Investment incomePrior year $234$424
I-11 Other revenue$0
I-12 Total revenuePrior year $473,811$477,746
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $120,626$124,619
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $235,179$270,086
I-18 Total expensesPrior year $355,805$394,705
I-19 Revenue less expensesPrior year $118,006$83,041
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $477,746 across 9 lines filed
VIII-1b Membership dues$406,869
VIII-1f All other contributions, gifts and grants$70,453
VIII-1h Total contributions, gifts and grants$477,322
VIII-3 Investment incomeRelated to mission $424$424
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $424$477,746
Part IX · Statement of functional expenses $394,705 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $25,473$25,473
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $89,161$89,161
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $7,982 · Management $2,003$9,985
IX-11a Management fees$0
IX-11b Legal feesManagement $4,662$4,662
IX-11c Accounting feesManagement $3,000$3,000
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $4,852$4,852
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $14,763$14,763
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $57,835$57,835
IX-23 InsuranceManagement $54,822$54,822
IX-24 Other expenses (24a–d)Programs $58,080 · Management $29,596$87,676
IX-24e All other expensesPrograms $15,337 · Management $27,139$42,476
IX-25 Total functional expensesPrograms $228,395 · Management $166,310 · Fundraising $0$394,705
Part X · Balance sheet $1,309,950 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $91,717$54,807
X-2 Savings and temporary cash investmentsStart of year $141,209$267,211
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $950,847$987,932
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $1,183,773$1,309,950
X-17 Accounts payable and accrued expensesStart of year $491$931
X-19 Deferred revenueStart of year $1,644$2,162
X-24 Unsecured notes and loans payableStart of year $761,821$666,694
X-25 Other liabilities$137,305
X-26 Total liabilitiesStart of year $763,956$807,092
X-32 Total net assets or fund balancesStart of year $419,817$502,858
X-33 Total liabilities and net assetsStart of year $1,183,773$1,309,950
Part XI · Reconciliation of net assets $502,858 net assets at year end
XI-1 Total revenue$477,746
XI-2 Total expenses$394,705
XI-3 Revenue less expenses$83,041
XI-4 Net assets at start of year$419,817
XI-10 Net assets at end of year$502,858

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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