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Lakes Master Association INC FY2020 filing

Not tax-deductible

Corp Christi, TX501(c)(4) EIN 74-2350796Revenue $180K in FY2020Latest return filed Apr 8, 2026

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.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% 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
$180K
Spent
$202K
To programs
72%
Net assets
$177K
By yearFY2020–FY2025
Revenue
$180K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$180K
FY2021$213K
FY2022$211K
FY2023$190K
FY2024$205K
FY2025$205K
Expenses
$202K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$202K
FY2021$230K
FY2022$216K
FY2023$233K
FY2024$191K
FY2025$204K
Net assets
$177K
FY2020
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 FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

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

72 cents of each dollar spent went to programs.

Program services 72% · $146K Management & general 28% · $56K

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
Erik Smith
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Amando Canalas
Vice President
$0Pt VII · Sec A
Virgil Gomez
Treasurer
$0Pt VII · Sec A
Oscar Saenz
Secretary
$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 · $146K · in their own filed words · FY2020
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.

$146Kprogram expense

By the numbers

The FY2020 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$180K
Ln 12
Fees for servicesLn 2g$179K
Investment incomeLn 3$1K
Money outPt IX
$202K
Ln 25
Programscol B$146K
Managementcol C$56K
Owns and owesPt X
$177K
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$177K
LiabilitiesLn 26$0
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$179K
Investment incomeLn 3$1K
Total revenueLn 12$180K
Assets in detailPt X, end of year
CashLn 1$105K
SavingsLn 2$20K
Cash and savings togetherLn 1–2$125K
Land, buildings, equipmentLn 10c$51K
Total assetsLn 16$177K
LiabilitiesLn 26$0
Net assetsLn 32$177K
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 FY20End FY20
Cash and savingsLn 1–2$136K$125K
Land, buildings, equipmentLn 10c$87K$51K
Total assetsLn 16$223K$177K
LiabilitiesLn 26$0$0
Net assetsLn 32$223K$177K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$58K$25K$33K
Payroll taxesLn 10$5K$2K$3K
Legal feesLn 11b−$50−$50
Accounting feesLn 11c$11K$11K
Depreciation, depletion and amortizationLn 22$12K$12K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$102K$95K$7K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$202K$146K$56K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 8, 2026 $205K$204K$1K$127K 990 PDF
FY2024Filed with the IRS Aug 28, 2025 $205K$191K$14K$126K 990 PDF
FY2023Filed with the IRS Nov 6, 2024 $190K$233K−$42K$112K 990 PDF
FY2022Filed with the IRS Nov 13, 2023 $211K$216K−$5K$154K 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $213K$230K−$17K$159K 990 PDF
FY2020 ViewingFiled with the IRS May 7, 2021 $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 FY2020 990 (6 parts)
Part I · Summary $180,287 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $217,051$178,892
I-10 Investment incomePrior year $905$1,395
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $217,956$180,287
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 $74,328$62,541
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $134,171$139,874
I-18 Total expensesPrior year $208,499$202,415
I-19 Revenue less expensesPrior year $9,457−$22,128
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 $180,287 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $178,892$178,892
VIII-3 Investment incomeRelated to mission $1,395$1,395
VIII-12 Total revenueRelated to mission $180,287 · Unrelated business $0 · Excluded from tax $0$180,287
Part IX · Statement of functional expenses $202,415 across 8 lines filed
IX-7 Other salaries and wagesPrograms $24,637 · Management $33,036$57,673
IX-10 Payroll taxesPrograms $2,272 · Management $2,596$4,868
IX-11b Legal feesManagement −$50−$50
IX-11c Accounting feesManagement $10,908$10,908
IX-22 Depreciation, depletion and amortizationPrograms $11,860$11,860
IX-23 InsurancePrograms $12,324$12,324
IX-24 Other expenses (24a–d)Programs $95,056 · Management $7,260$102,316
IX-24e All other expensesManagement $2,516$2,516
IX-25 Total functional expensesPrograms $146,149 · Management $56,266 · Fundraising $0$202,415
Part X · Balance sheet $176,564 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $115,889$105,380
X-2 Savings and temporary cash investmentsStart of year $20,026$20,026
X-4 Accounts receivableStart of year $304$24
X-9 Prepaid expenses and deferred charges$523
X-10c Land, buildings and equipment, netStart of year $87,271$50,611
X-16 Total assetsStart of year $223,490$176,564
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $223,490$176,564
X-32 Total net assets or fund balancesStart of year $223,490$176,564
X-33 Total liabilities and net assetsStart of year $223,490$176,564
Part XI · Reconciliation of net assets $176,564 net assets at year end
XI-1 Total revenue$180,287
XI-2 Total expenses$202,415
XI-3 Revenue less expenses−$22,128
XI-4 Net assets at start of year$223,490
XI-9 Other changes in net assets−$24,798
XI-10 Net assets at end of year$176,564

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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