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TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is atwww.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Inspection
Name of the organization
SEABROOK ISLAND PROPERTY OWNERS ASSOCIATION
Employer identification number
57-0600562
57-0600562
| Return Reference | Explanation |
|---|---|
| FORM 990, PART III, LINE 1 | TO PRESERVE THE PROPERTY VALUES AND QUALITY OF LIFE OF THE COMMUNITY THROUGH DEVELOPMENT AND IMPLEMENTATION OF PROGRAMS TO PROTECT THE ENVIRONMENT, FACILITATE ACQUISITION AND MAINTENANCE OF GREEN SPACE, AND TO PROVIDE FOR THE HEALTH, SAFETY, SECURITY, AND WELFARE OF PROPERTY OWNERS. |
| FORM 990, PART III, LINE 4A | PROVIDING A PUBLIC MEETING AND RECREATIONAL FACILITIES FOR AREA RESIDENTS - THE ASSOCIATION MAINTAINS A CLUBHOUSE FOR ASSOCIATION BUSINESS AND SOCIAL MEETINGS AND WHICH IS ALSO AVAILABLE TO MEMBERS (THE PUBLIC) FOR PRIVATE USE ON A RESERVATION BASIS. THE FACILITY ALSO INCLUDES A SWIMMING POOL THAT SERVES RESIDENTS. OTHER RECREATIONAL AREAS MAINTAINED INCLUDE BOARDWALKS TO THE PUBLIC BEACHES, LEISURE TRAILS, AND A CRAB DOCK AND BOAT LAUNCH FACILITY. IN 2009 THE ASSOCIATION OPENED AN $8,000,000 COMMUNITY CENTER INCLUDING MEETING ROOMS, A FITNESS CENTER, AND INDOOR AND OUTDOOR SWIMMING POOLS. ALL FACILITIES ARE OPEN TO ALL RESIDENTS OF THE TOWN OF SEABROOK ISLAND (THE PUBLIC). THESE RECREATIONAL ACTIVITIES ARE SIMILAR TO ACTIVITIES PROVIDED IN NUMEROUS LOCATIONS BY CITIES, OR GOVERNMENTAL RECREATION AND PARK DISTRICTS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CORPORATION IS A HOMEOWNERS' ASSOCIATION CONSISTING OF 2,600 RESIDENTIAL LOTS. OWNERS ARE AUTOMATICALLY GRANTED MEMBERSHIP IN THE ASSOCIATION UPON PURCHASE OF THEIR LOT. |
| FORM 990, PART VI, SECTION A, LINE 7A | WHEN A PROPERTY OWNER DECISION IS NEEDED, THE BOARD OF DIRECTORS PREPARES AND DISTRIBUTES THE APPROPRIATE REFERENDUM TO ALL MEMBERS FOR A VOTE. PRIOR TO THE ANNUAL MEETING OF PROPERTY OWNERS, A THREE (3) MEMBER ELECTIONS COMMITTE CONSISTING OF PROPERTY OWNERS NOT ON THE BOARD OF DIRECTORS OR NOMINATING COMMITTEE ARE APPOINTED BY THE PRESIDENT TO VERIFY AND CERTIFY THE VALIDITY OF BALLOTS CAST, AND TABULATIONS OF VOTES CAST FOR ELECTIONS, ON ANY OTHER MATTER VOTED ON AT SUCH MEETING, OR BALLOTS IN ANY REFERENDUM. THE ELECTION COMMITTE REPORTS ITS FINDINGS TO THE SECRETARY AS SOON AS PRACTICAL FOLLOWING A REFERENDUM, OR THE ANNUAL MEETING, OR SPECIAL MEETING AT WHICH A VOTE IS TAKEN. PROPERTY OWNERS HAVE THE EXCLUSIVE AUTHORITY TO AMEND AND/OR REPEAL BYLAWS, ELECT THE BOARD OF DIRECTORS AND NOMINATING COMMITTE, TO ACCEPT OR REJECT THE ANNUAL BUDGET, AND TO APPROVE THE BORROWING OF MONEY AND CERTAIN OTHER PROPERTY TRANSACTIONS. A MAJORITY OF MEMBERS IN GOOD STANDING MUST VOTE IN FAVOR OF AN ACTION IN ORDER FOR IT TO BE APPROVED. |
| FORM 990, PART VI, SECTION A, LINE 7B | PROPERTY OWNERS HAVE THE EXCLUSIVE AUTHORITY TO AMEND AND/OR REPEAL BYLAWS, ELECT THE BOARD OF DIRECTORS AND NOMINATING COMMITTEE, TO ACCEPT OR REJECT THE ANNUAL BUDGET, TO APPROVE SPECIAL ASSESSMENTS, AND TO APPROVE THE BORROWING OF MONEY AND CERTAIN OTHER PROPERTY TRANSACTIONS. |
| FORM 990, PART VI, SECTION B, LINE 10B | THERE ARE SEVERAL "SUBASSOCIATIONS" WITHIN THE SEABROOL ISLAND PROPERTY OWNERS ASSOCIATION "MASTER" ASSOCIATION. MEMBERS OF THERE SUBASSOCIATIONS ARE ALSO MEMBERS OF THE "MASTER" AND PAY ANNUAL ASSESSMENTS TO BOTH. EACH SUBASSOCIATION HAS ITS OWN BOARD OF DIRECTORS AND FUNCTIONS 100% INDEPENDENTLY FROM THE "MASTER" ASSOCIATION. |
| FORM 990, PART VI, SECTION B, LINE 11 | MANAGEMENT PERFORMED AN EXTENSIVE REVIEW. BOARD MEMBERS SIGNED A FORM INDICATING THAT THEY WERE PROVIDED A COPY OF THE FORM 990, REVIEWED THIS FORM TO THE BEST OF THEIR ABILITIES, AND PROVIDED COMMENTS TO MANAGEMENT FOR RESOLUTION. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH YEAR ALL BOARD MEMBERS ARE REQUIRED TO SIGN A FORM INDICATING THEIR UNDERSTANDING OF THE CONFLICT OF INTEREST POLICY ABD THEIR COMPLIANCE WITH IT. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD'S EXECUTIVE COMMITTEE REVIEWS COMPENSATION OF THE TOP MANAGEMENT OFFICIALS ANNUALLY. INCLUDED IN THE EXAMINATION IS THE REVIEW OF PERSONNEL EVALUATIONS AND COMPARISON OF THE EMPLOYEE'S SALARY RANGE TO THAT OF SIMILAR POSITIONS IN LIKE ORGANIZATIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE ASSOCIATION'S WEBSITE: WWW.SIPOA.ORG. |
| FORM 990, PART IX, LINE 24E | MAJOR REPAIRS & REPLACEMENTS: PROGRAM SERVICE EXPENSES 275,521. MANAGEMENT AND GENERAL EXPENSES 68,880. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 344,401. CONTRACT LABOR: PROGRAM SERVICE EXPENSES 107,428. MANAGEMENT AND GENERAL EXPENSES 26,857. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 134,285. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 97,724. MANAGEMENT AND GENERAL EXPENSES 24,431. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 122,155. BAD DEBT EXPENSE: PROGRAM SERVICE EXPENSES 60,000. MANAGEMENT AND GENERAL EXPENSES 15,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 75,000. HOUSEKEEPING: PROGRAM SERVICE EXPENSES 34,299. MANAGEMENT AND GENERAL EXPENSES 8,575. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 42,874. VEHICLE MAINTENANCE & EXPENSES: PROGRAM SERVICE EXPENSES 26,632. MANAGEMENT AND GENERAL EXPENSES 6,658. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 33,290. TRAINING: PROGRAM SERVICE EXPENSES 13,239. MANAGEMENT AND GENERAL EXPENSES 3,310. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,549. DUES & SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 8,754. MANAGEMENT AND GENERAL EXPENSES 2,188. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,942. PRINTING & PUBLICATIONS: PROGRAM SERVICE EXPENSES 6,703. MANAGEMENT AND GENERAL EXPENSES 1,676. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,379. POSTAGE & SHIPPING: PROGRAM SERVICE EXPENSES 5,289. MANAGEMENT AND GENERAL EXPENSES 1,322. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,611. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ASSOCIATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013
Additional Data
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