Lake Parsippany Property Owners in Parsippany, New Jersey (NJ)

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Lake Parsippany Property Owners
Employer Identification Number (EIN)221054157
Name of OrganizationLake Parsippany Property Owners
AddressPO BOX 62, Parsippany, NJ 07054-0062
ActivitiesTraining in sports, Other activity aimed t combating community deterioration, Other recreational activities
SubsectionCivic League
Ruling Date02/1950
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Tax Period12/2010
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,017,174
Amount of Income$206,161
Form 990 Revenue Amount$173,824
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Owners, Renters Organizations


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Amount of income in 2010: $206,161
This organization: 

 $206,161
Other organizations performing similar types of work: 

 $744,751

Assets in 2010: $1,017,174
Lake Parsippany Property Owners: 

 $1,017,174
Other organizations performing similar types of work: 

 $1,484,257

Expenses in 2010: $164,821
Lake Parsippany Property Owners: 

 $164,821
Other organizations performing similar types of work: 

 $715,721

Income to expenses ratio in 2010: 1.3
Lake Parsippany Property Owners: 

 1.3
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 98.6%
Lake Parsippany Property Owners: 

 98.6%
Other organizations performing similar types of work: 

 70.0%

Grants share in income in 2010: 96.3%
This organization: 

 96.3%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2010

Statements Regarding Other IRS Filings and Tax Compliance (for 2010)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2010)
Total revenue$173,824
Contributions, Gifts, Grants and Other Similar Amounts$167,452
Program Service Revenue$3,375
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$2,019
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$978
Gross rents (Real / Personal)$33,315 / $0
Less: rental expenses (Real / Personal)$32,337 / $0
Rental income or (loss) (Real / Personal)$978 / $0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2010)
Total functional expenses$164,821
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$164,821
Balance Sheet (for 2010)
Total assets$1,017,174
Total liabilities$0
Total net assets or fund balances$1,017,174
Retained earnings, endowment, accumulated income, or other funds$638,115
Reason for Public Charity Status (for 2010)
The organization is not a private foundation because it is:Not provided
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002200520062007
Total revenue$141,835$136,662$113,509$134,768$147,493$156,906
Contributions, gifts, grants, and similar amounts received$30$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$30$0$0$0$0$0
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$4,154$1,260$478$7,105$6,250$4,100
Membership dues and assessments$77,712$73,194$87,929$121,107$130,107$148,039
Interest on savings and temporary cash investments$2,436$1,883$1,480$11,432$14,928$13,391
Dividends and interest from securities$57,360$60,325$39,653$719$1,239$3,307
Net rental income or (loss)$0$0$0$-5,595$-5,031$-11,931
Gross rents$0$0$0$31,947$33,794$22,384
Less: rental expenses$0$0$0$37,542$38,825$34,315
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$-16,031$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$16,031$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$143$0$0$0$0$0
Gross sales of inventory, less returns and allowances$143$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Total expenses$118,292$265,360$199,924$143,033$152,590$164,362
Program services$112,267$260,347$198,486$136,602$151,273$162,096
Management and general$6,025$5,013$1,438$6,431$1,317$2,266
Fundraising$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$1,293,923$1,165,225$1,078,810$1,057,240$1,052,143$1,044,687
Excess or (deficit) for the year$23,543$-128,698$-86,415$-8,265$-5,097$-7,456
Net assets or fund balances at beginning of year$1,275,380$1,293,923$1,165,225$1,065,505$1,057,240$1,052,143
Other changes in net assets or fund balances$-5,000$0$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$164,362$162,096$2,266$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$38,307$38,307$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$3,619$3,619$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$2,640$2,640$0$0
Supplies$820$820$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$61,628$61,628$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$13,623$13,623$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$10,197$10,197$0$0
Other expenses not covered above$33,528$31,262$2,266$0
Balance Sheets
200020012002200520062007
Total assets$1,293,923$1,165,225$1,078,810$1,057,240$1,052,144$1,044,687
Cash - non-interest-bearing$0$0$44,378$33,526$30,431$32,544
Savings and temporary cash investments$62,396$50,079$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$147$0$0$0$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$633,074$678,661$370,999$213,347$200,052$111,040
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$372,483$108,127$342,160$189,215$217,599$262,965
Land, buildings, and equipment less accumulated depreciation$225,823$328,358$321,273$621,151$604,062$638,138
Other assets, including program-related investments$0$0$0$1$0$0
Total liabilities$0$0$0$0$0$0
Accounts payable and accrued expenses$0$0$0$0$0$0
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0
Total liabilities and net assets/fund balances$1,293,923$1,165,225$1,078,810$1,057,240$1,052,144$1,044,687
Total net assets or fund balances$1,293,923$1,165,225$1,078,810$1,057,240$1,052,143$1,044,687
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002200520062007
Total revenue$0$0$0$0$147,493$156,906
Total revenue, gains, and other support per audited financial statements$0$0$0$0$147,493$156,906
Other expenses$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002200520062007
Total expenses$0$0$0$0$152,590$164,362
Total expenses and losses per audited financial statements$0$0$0$0$152,590$164,362
Other revenue$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$4,767$152,139
Program service revenue
Program service revenue 1000000$000$0$4,100
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$148,039
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$13,391$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,307$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$-11,931$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
199920002001200420052006
Total$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
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1Reston Association12001 Sunrise Valey Dr, Reston, VA 20191-3450VA1970-11$25,049,718
2Bella Vista Village Property Owners Association98 Clubhouse Dr, Bella Vista, AR 72715-8104AR1969-01$22,584,609
3Woodlands Association IncPO BOX 7859, The Woodlands, TX 77387-7859TX1996-02$22,200,077
4Rancho Santa Fe AssociationPO BOX A, Rcho Santa Fe, CA 92067-0359CA1985-04$17,066,326
5Ocean Pines Association Inc239 Ocean Pkwy, Ocean Pines, MD 21811-1901MD1972-07$14,088,276
6Highland Lakes Country Club & Community AssociationBreakneck Rd, Highland Lakes, NJ 07422NJ1963-10$2,764,192
7White Meadow Lake Property Owners Association Inc100 White Meadow Rd, Rockaway, NJ 07866-1123NJ1976-03$1,535,158
8Rutherford Home Owners AssociationPO BOX 183, Lavallette, NJ 08735-0183NJ1975-09$521,050
9Upper Greenwood Property Owners Association IncPO BOX 457, Hewitt, NJ 07421-0457NJ1969-03$494,269
10Lake Parsippany Property OwnersPO BOX 62, Parsippany, NJ 07054-0062NJ1950-02$206,161
11Thompson Springs Homeowners Association IncPO BOX 1567, Allen, TX 75013-0026TX2008-04$50,813
12Willow Creek Homeowners AssociationPo Box 870, West Chicago, IL 60185IL1999-10$42,645
13Crests Neighborhood Association433 North Camden Drive Suite 888, Beverly Hills, CA 90210CA2008-04$0
14Eastwood Homeowners AssociationPO BOX 38433, Dallas, TX 75238-0433TX1999-06$0
15Elloway Oaks Homeowners Association113 Elloway Oaks Drive, Chehalis, WA 98532WA2008-04$0
16Expanding Futures218 E 7615 S, Midvale, UT 84047-2626UT2007-06$0
17Lakeway Section Clusters 28-Iii Property Owners Association Inc135 Carefree Cir, Austin, TX 78734-4620TX2000-10$0
18Ortega Hills Community Association7401 Greenway Dr, Jacksonville, FL 32244-4751FL1999-10$0
19White Pine Property Owners Association Inc437 True Hickory Dr, Rochester, NY 14615-1321NY2004-05$0
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Number of organizations performing similar types of work
Arkansas2
Arizona3
California18
Colorado2
Florida4
Georgia2
Hawaii1
Iowa1
Illinois3
Indiana2
Kansas3
Kentucky1
Massachusetts3
Maryland3
Maine1
Michigan1
Minnesota1
Missouri1
North Carolina1
New Hampshire1
New Jersey5
New York2
Oklahoma1
Oregon1
Pennsylvania6
Rhode Island1
South Carolina2
Texas12
Utah1
Virginia6
Washington2
Wisconsin1
West Virginia2
Wyoming1
Total97

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