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Lakes Master Association INC

Not tax-deductible

Corp Christi, TX501(c)(4) EIN 74-2350796Revenue $205K in FY2025

On file with the IRSwww,thelakescctx.com7502 Venice Dr, 78413-5235 · Corp Christi, TXTax-exempt since Oct 1991

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Homeowners Association serving 452 homeowners and the local community

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $12K a year · 6% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
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
$205K
-0.3% vs prior year
Spent
$204K
To programs
65%
Net assets
$127K
By yearFY2020–FY2025
Revenue
$205K
FY2025-0.3%
Tap a bar for its year
Revenue by fiscal year
FY2020$180K
FY2021$213K
FY2022$211K
FY2023$190K
FY2024$205K
FY2025$205K
Expenses
$204K
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$202K
FY2021$230K
FY2022$216K
FY2023$233K
FY2024$191K
FY2025$204K
Net assets
$127K
FY2025▲ +0.9%
Tap a bar for its year
Net assets by fiscal year
FY2020$177K
FY2021$159K
FY2022$154K
FY2023$112K
FY2024$126K
FY2025$127K

From the FY2025 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1991.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $132K Management & general 35% · $72K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Oscar Saenz
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Robby Nash
President
$0Pt VII · Sec A
Jonathan Cloutet
Vice President
$0Pt VII · Sec A
Virgil Gomez
Treas/Secr
$0Pt VII · Sec A
See Lakes Master Association INC 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

Supports 452 homeowners and the local community through association services.

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Provided by the organization

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1 program · $132K · in their own filed words · FY2025
01

The lakes master association, inc. Is responsible for the maintenance and management of the common and recreational areas of the lakes subdivision. The subdivision serves 452 homeowners of the subdivision and the local community.

$132Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$205K
Ln 12
Fees for servicesLn 2g$203K
Investment incomeLn 3$2K
Money outPt IX
$204K
Ln 25
Programscol B$132K
Managementcol C$72K
Owns and owesPt X
$127K
net assets · Ln 32
Cash and savingsLn 1–2$113K
Total assetsLn 16$132K
LiabilitiesLn 26$5K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$203K
Investment incomeLn 3$2K
Total revenueLn 12$205K
Assets in detailPt X, end of year
CashLn 1$92K
SavingsLn 2$21K
Cash and savings togetherLn 1–2$113K
Land, buildings, equipmentLn 10c$18K
Other assetsLn 15$142
Total assetsLn 16$132K
LiabilitiesLn 26$5K
Net assetsLn 32$127K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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$107K$113K
Land, buildings, equipmentLn 10c$19K$18K
Total assetsLn 16$126K$132K
LiabilitiesLn 26$0$5K
Net assetsLn 32$126K$127K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$71K$25K$46K
Payroll taxesLn 10$6K$2K$4K
Legal feesLn 11b$938$938
Accounting feesLn 11c$8K$8K
InterestLn 20$225$225
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$29K$29K
Other expenses (24a–d)Ln 24$75K$67K$8K
All other expensesLn 24e$5K$5K
Total functional expensesLn 25$204K$132K$72K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $205K$204K$1K$127K 990 PDF
FY2024 $205K$191K$14K$126K 990 PDF
FY2023 $190K$233K−$42K$112K 990 PDF
FY2022 $211K$216K−$5K$154K 990 PDF
FY2021 $213K$230K−$17K$159K 990 PDF
FY2020 $180K$202K−$22K$177K 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 $204,684 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $202,421$202,918
I-10 Investment incomePrior year $2,962$1,766
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $205,383$204,684
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 $76,654$77,214
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $114,653$126,351
I-18 Total expensesPrior year $191,307$203,565
I-19 Revenue less expensesPrior year $14,076$1,119
Part VI · Governance 5 of 5 board members independent, 4 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-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $204,684 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $202,918$202,918
VIII-3 Investment incomeRelated to mission $1,766$1,766
VIII-12 Total revenueRelated to mission $204,684 · Unrelated business $0 · Excluded from tax $0$204,684
Part IX · Statement of functional expenses $203,565 across 9 lines filed
IX-7 Other salaries and wagesPrograms $25,090 · Management $46,303$71,393
IX-10 Payroll taxesPrograms $1,990 · Management $3,831$5,821
IX-11b Legal feesManagement $938$938
IX-11c Accounting feesManagement $7,525$7,525
IX-20 InterestPrograms $225$225
IX-22 Depreciation, depletion and amortizationPrograms $8,233$8,233
IX-23 InsurancePrograms $29,221$29,221
IX-24 Other expenses (24a–d)Programs $66,962 · Management $8,244$75,206
IX-24e All other expensesManagement $5,003$5,003
IX-25 Total functional expensesPrograms $131,721 · Management $71,844 · Fundraising $0$203,565
Part X · Balance sheet $131,639 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $86,591$92,362
X-2 Savings and temporary cash investmentsStart of year $20,687$20,687
X-10c Land, buildings and equipment, netStart of year $18,602$18,448
X-15 Other assetsStart of year $0$142
X-16 Total assetsStart of year $125,880$131,639
X-26 Total liabilitiesStart of year $0$4,640
X-27 Net assets without donor restrictionsStart of year $125,880$126,999
X-32 Total net assets or fund balancesStart of year $125,880$126,999
X-33 Total liabilities and net assetsStart of year $125,880$131,639
Part XI · Reconciliation of net assets $126,999 net assets at year end
XI-1 Total revenue$204,684
XI-2 Total expenses$203,565
XI-3 Revenue less expenses$1,119
XI-4 Net assets at start of year$125,880
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$126,999

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

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