Centrelake Owners Association: Nonprofit Profile, Financials & Form 990 (EIN 33-0247894)

Revenue by fiscal year
FY2020	$196K
FY2021	$214K
FY2022	$207K
FY2023	$241K
FY2024	$233K
FY2025	$301K

Expenses by fiscal year
FY2020	$201K
FY2021	$220K
FY2022	$212K
FY2023	$241K
FY2024	$235K
FY2025	$274K

Net assets by fiscal year
FY2020	$460K
FY2021	$408K
FY2022	$438K
FY2023	$430K
FY2024	$483K
FY2025	$564K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1990.

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

Where the money goes

91 cents of each dollar spent went to programs.

91%

Program services 91% · $250K Management & general 9% · $24K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation

Michael Rademaker

CEO

$0Pt VII · Sec A

Rakesh Seth

CFO, Secretary

$0Pt VII · Sec A

See Centrelake Owners Association executive salaries →

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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

Preserves and maintains 73 acres of lake and parkland for community well-being.

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Provided by the organization

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1 program · $250K · in their own filed words · FY2025

01

The association's program services are described in the primary mission statement on schedule o.

$250Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$301K

Ln 12

Gifts and grantsLn 1h$288K

Investment incomeLn 3$12K

Money outPt IX

$274K

Ln 25

Programscol B$250K

Managementcol C$24K

Owns and owesPt X

$564K

net assets · Ln 32

Cash and savingsLn 1–2$564K

Total assetsLn 16$564K

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$288K

Investment incomeLn 3$12K

Total revenueLn 12$301K

Assets in detailPt X, end of year

CashLn 1$15K

SavingsLn 2$549K

Cash and savings togetherLn 1–2$564K

Total assetsLn 16$564K

LiabilitiesLn 26$0

Net assetsLn 32$564K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$495K	$564K
Total assetsLn 16	$495K	$564K
LiabilitiesLn 26	$12K	$0
Net assetsLn 32	$483K	$564K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$27K	$14K	$14K
Legal feesLn 11b	$8K	$3K	$5K
Accounting feesLn 11c	$830		$830
Office expensesLn 13	$2K		$2K
InsuranceLn 23	$3K	$981	$2K
Other expenses (24a–d)Ln 24	$232K	$232K
Total functional expensesLn 25	$274K	$250K	$24K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$301K	$274K	$27K	$564K	990 PDF
FY2024	$233K	$235K	−$2K	$483K	990 PDF
FY2023	$241K	$241K	−$398	$430K	990 PDF
FY2022	$207K	$212K	−$5K	$438K	990 PDF
FY2021	$214K	$220K	−$5K	$408K	990 PDF
FY2020	$196K	$201K	−$5K	$460K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $300,959 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $218,732$288,479

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $14,174$12,480

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $232,906$300,959

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $234,625$273,767

I-18 Total expensesPrior year $234,625$273,767

I-19 Revenue less expensesPrior year −$1,719$27,192

Part VI · Governance 2 of 2 board members independent, 1 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $300,959 across 4 lines filed

VIII-1b Membership dues$288,479

VIII-1h Total contributions, gifts and grants$288,479

VIII-3 Investment incomeRelated to mission $12,480$12,480

VIII-12 Total revenueRelated to mission $12,480 · Unrelated business $0 · Excluded from tax $0$300,959

Part IX · Statement of functional expenses $273,767 across 6 lines filed

IX-11a Management feesPrograms $13,565 · Management $13,566$27,131

IX-11b Legal feesPrograms $3,085 · Management $5,252$8,337

IX-11c Accounting feesManagement $830$830

IX-13 Office expensesManagement $2,400$2,400

IX-23 InsurancePrograms $981 · Management $1,669$2,650

IX-24 Other expenses (24a–d)Programs $232,419$232,419

IX-25 Total functional expensesPrograms $250,050 · Management $23,717 · Fundraising $0$273,767

Part X · Balance sheet $564,328 assets, 9 lines filed

X-1 Cash, non-interest-bearing$15,065

X-2 Savings and temporary cash investmentsStart of year $494,852$549,263

X-16 Total assetsStart of year $494,852$564,328

X-17 Accounts payable and accrued expensesStart of year $12,127$0

X-26 Total liabilitiesStart of year $12,127$0

X-27 Net assets without donor restrictionsStart of year −$12,127$15,065

X-28 Net assets with donor restrictionsStart of year $494,852$549,263

X-32 Total net assets or fund balancesStart of year $482,725$564,328

X-33 Total liabilities and net assetsStart of year $494,852$564,328

Part XI · Reconciliation of net assets $564,328 net assets at year end

XI-1 Total revenue$300,959

XI-2 Total expenses$273,767

XI-3 Revenue less expenses$27,192

XI-4 Net assets at start of year$482,725

XI-9 Other changes in net assets$54,411

XI-10 Net assets at end of year$564,328

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

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