Fayson Lakes Association FY2025 filing

Not tax-deductible

Kinnelon, NJ501(c)(7)Since 1930EIN 22-1468840Revenue $583K in FY2025

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

50¢ of each $1 spent went to programs.
$22K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · 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
50%
of spending
Concern: 50% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$22K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 15.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$431K
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$583K
+4% vs prior year
Spent
$455K
To programs
50%
Net assets
$1.0M
By yearFY2021–FY2026
Revenue
$583K
FY2025▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2021$478K
FY2022$529K
FY2023$535K
FY2024$558K
FY2025$583K
FY2026$608K
Expenses
$455K
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$395K
FY2022$404K
FY2023$395K
FY2024$428K
FY2025$455K
FY2026$485K
Net assets
$1.0M
FY2025▲ +15%
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 FY2025 Form 990 (year ending February 2025) · see the original

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You’re viewing the FY2025 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

50 cents of each dollar spent went to programs.

Program services 50% · $226K Management & general 50% · $226K Fundraising 1% · $3K

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; $22K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Business Manager
$19,806Pt VII · Sec A
Maintenance
$2,640Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$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 15aNo

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 · $226K · in their own filed words · FY2024
01

Provide water and beach recreation to lake community

$226Kprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$583K
Ln 12
Gifts and grantsLn 1h$570K
Investment incomeLn 3$13K
Money outPt IX
$455K
Ln 25
Programscol B$226K
Managementcol C$226K
Fundraisingcol D$3K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$591K
Total assetsLn 16$1.4M
LiabilitiesLn 26$431K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$570K
Fundraising eventsLn 1c$545
Investment incomeLn 3$13K
Total revenueLn 12$583K
Assets in detailPt X, end of year
CashLn 1$172K
SavingsLn 2$419K
Cash and savings togetherLn 1–2$591K
Land, buildings, equipmentLn 10c$845K
Total assetsLn 16$1.4M
LiabilitiesLn 26$431K
Net assetsLn 32$1.0M
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 FY25End FY25
Cash and savingsLn 1–2$525K$591K
Land, buildings, equipmentLn 10c$877K$845K
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$526K$431K
Net assetsLn 32$876K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$28K$28K
Other salaries and wagesLn 7$116K$116K
Payroll taxesLn 10$13K$13K
Accounting feesLn 11c$1K$1K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$65K$65K
InsuranceLn 23$74K$74K
Other expenses (24a–d)Ln 24$91K$58K$32K
All other expensesLn 24e$59K$38K$18K$3K
Total functional expensesLn 25$455K$226K$226K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $608K$485K$122K$1.1M 990 PDF
FY2025 Viewing $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 $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 FY2025 990 (6 parts)
Part I · Summary $583,486 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $557,749$570,420
I-9 Program service revenue$0
I-10 Investment incomePrior year $681$13,066
I-11 Other revenue$0
I-12 Total revenuePrior year $558,430$583,486
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $149,061$157,309
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $278,569$297,451
I-18 Total expensesPrior year $427,630$454,760
I-19 Revenue less expensesPrior year $130,800$128,726
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $583,486 across 7 lines filed
VIII-1b Membership dues$473,281
VIII-1c Fundraising events$545
VIII-1f All other contributions, gifts and grants$96,594
VIII-1h Total contributions, gifts and grants$570,420
VIII-3 Investment incomeRelated to mission $13,066$13,066
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $13,066 · Unrelated business $0 · Excluded from tax $0$583,486
Part IX · Statement of functional expenses $454,760 across 9 lines filed
IX-5 Pay of current officers, directors and key staffManagement $28,314$28,314
IX-7 Other salaries and wagesPrograms $116,214$116,214
IX-10 Payroll taxesPrograms $12,781$12,781
IX-11c Accounting feesManagement $1,275$1,275
IX-20 InterestManagement $6,881$6,881
IX-22 Depreciation, depletion and amortizationManagement $64,775$64,775
IX-23 InsuranceManagement $74,427$74,427
IX-24 Other expenses (24a–d)Programs $58,343 · Management $32,372$90,715
IX-24e All other expensesPrograms $38,383 · Management $17,956 · Fundraising $3,039$59,378
IX-25 Total functional expensesPrograms $225,721 · Management $226,000 · Fundraising $3,039$454,760
Part X · Balance sheet $1,435,602 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $249,924$172,392
X-2 Savings and temporary cash investmentsStart of year $275,165$418,683
X-10c Land, buildings and equipment, netStart of year $876,607$844,527
X-16 Total assetsStart of year $1,401,696$1,435,602
X-19 Deferred revenueStart of year $156,155$164,403
X-24 Unsecured notes and loans payableStart of year $369,684$266,674
X-26 Total liabilitiesStart of year $525,839$431,077
X-32 Total net assets or fund balancesStart of year $875,857$1,004,525
X-33 Total liabilities and net assetsStart of year $1,401,696$1,435,602
Part XI · Reconciliation of net assets $1,004,525 net assets at year end
XI-1 Total revenue$583,486
XI-2 Total expenses$454,760
XI-3 Revenue less expenses$128,726
XI-4 Net assets at start of year$875,857
XI-9 Other changes in net assets−$58
XI-10 Net assets at end of year$1,004,525

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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