2024-07-19T16:23:00-05:00 2023-05-31 760131587 O'NEAL & HOLMES LLP 600 ROCKMEAD DR SUITE 110 KINGWOOD TX 77339 990 2022-06-01 760423865 KINGS RIVER TRAIL ASSOCIATION INC KING 7133324602 2002 TIMBERLOCH PL STE 650 THE WOODLANDS TX 77380 CHERYL OLLER PRESIDENT 7133324602 2024-06-25 1 CHERYL OLLER 999009999 0 TOM HILABRAND CPA P00664228 2818527473 2024-06-25 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X CHERYL OLLER 2002 TIMBERLOCH PL STE 650 THE WOODLANDS TX 77380 265521 0 X HTTPS://KINGSRIVERTRAIL.CONNECTRESIDENT.COM X HOMEOWNERS ASSOCIATION 1993 TX THE PURPOSE OF THE ASSOCIATION IS TO MAINTAIN ESPLANADES, RECREATIONAL TRAILS, STREET LIGHTS AND LIGHTING FOR ESPLANADES, PEST CONTROL AND IRRIGATION SERVICES - ALL BENEFITING THE ENTIRE COMMUNITY. 5 5 0 5 0 0 0 0 190908 190908 1718 7779 42329 66834 234955 265521 0 0 0 0 0 0 0 0 0 306021 254300 306021 254300 -71066 11221 721591 764057 180736 208627 540855 555430 THE PURPOSE OF THE ASSOCIATION IS TO MAINTAIN ESPLANADES, RECREATIONAL TRAILS, STREET LIGHTS AND LIGHTING FOR ESPLANADES, PEST CONTROL AND IRRIGATION SERVICES - ALL BENEFITING THE ENTIRE COMMUNITY. 0 0 190968 MAINTAINED ESPLANADES, RECREATIONAL TRAILS, STREET LIGHTS AND LIGHTING FOR ESPLANADES, PEST CONTROL AND IRRIGATION SERVICES - ALL BENEFITING THE ENTIRE COMMUNITY. 190968 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X FIRSTSERVICE RESIDENTIAL 7133324602 2002 TIMBERLOCH PL STE 650 THE WOODLANDS TX 77380 X CHERYL OLLER PRESIDENT 2.00 X X 0 0 0 MARLOW DAVIS DIRECTOR 2.00 X 0 0 0 GRAHAME BROWN TREASURER 2.00 X X 0 0 0 JAY LAPEZE VICE PRESIDENT 2.00 X X 0 0 0 ERIC LASKOWSKI DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 0 ASSESSMENT REVENUE 900099 190908 190908 190908 7779 7779 LEGAL-COLLECTION REIMB 900099 57173 57173 LATE FEES 900099 9661 9661 66834 265521 265521 0 0 13200 13200 40917 40917 9215 9215 8223 8223 RESERVE EXPENSES 89850 89850 LANDCAPE EXPENSE 64844 64844 UTILITIES 25511 25511 HOLIDAY DECORATIONS 1860 1860 680 680 254300 190968 63332 0 293137 271148 282965 289080 96453 117101 7513 7815 41523 78913 721591 764057 22213 35006 117000 94708 41523 78913 180736 208627 X 316806 302767 0 0 224049 252663 540855 555430 721591 764057 11221 3354 0 X 0 0 0 1 1 0 0 DUE FROM RESERVE FUND 78913 78913 DUE TO OPRATING FUND 78913 78913 FORM 990, PART VI, SECTION A, LINE 3 THE ASSOCIATION IS GOVERNED BY AN UNCOMPENSATED VOLUNTEER BOARD OF DIRECTORS THAT ARE VOTED INTO OFFICE BY THE MEMBERSHIP. THE MANAGEMENT OF THE DAY TO DAY AFFAIRS ARE PERFORMED BY THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION IS A NON PROFIT ORGANIZATION THAT IS GOVERNED BY AN UNCOMPENSATED VOLUNTEER BOARD OF DIRECTORS THAT ARE VOTED INTO OFFICE BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE VOTED INTO OFFICE BY THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 FOR THIS ENTITY WAS PROVIDED TO THIS ORGANIZATION'S GOVERNING BODY BEFORE THE RETURN WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS CONSISTENTLY MONITORS ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE ON REQUEST FOR INSPECTION. THE ASSOCIATION IS UNDER THE DIRECTION OF AN ELECTED, NON-COMPENSATED, VOLUNTEER BOARD OF DIRECTORS. THE BOARD OF DIRECTORS OF THE ASSOCIATION HAS ALWAYS HIRED A CPA FIRM FOR ANNUAL TAX RETURN PREPARATION SERVICES. ADDITIONALLY, THE ASSOCIATION HAS HIRED A PROFESSIONAL MANAGEMENT COMPANY TO HELP ADMINISTRATE THE DAY TO DAY AFFAIRS OF THE ASSOCIATION, INCLUDING THE PROCUREMENT OF PROFESSIONAL LEGAL, TAX, AND ACCOUNTING SERVICES AND FOR THE FILING OF ALL REQUIRED STATE AND FEDERAL TAX RETURNS. DURING THE YEAR, THE ASSOCIATION CHANGED TO A NEW MANAGEMENT COMPANY. THE ASSOCIATION'S NEW MANAGEMENT COMPANY THOUGHT THAT A NEW CPA FIRM WAS GOING TO PREPARE THE TAX RETURN FORM 990. THE ASSOCIATION'S PREVIOUS CPA FIRM (O'NEAL & HOLMES, LLP) WAS TOLD THAT A NEW CPA WAS GOING TO PREPARE THE RETURN. THIS MISUNDERSTANDING BETWEEN THE MANAGEMENT COMPANY AND THE PREVIOUS CPA FIRM INADVERTENTLY CAUSED THE TAX RETURN TO NOT BE FILED TIMELY. UPON DISCOVERING THIS FACT, THE ASSOCIATION AT THE DIRECTION OF THE MANAGEMENT COMPANY QUICKLY HIRED O'NEAL & HOLMES, LLP TO PREPARE THE FORM 990.THE BOARD OF DIRECTORS, ACTING IN GOOD FAITH, RELIED ON THEIR PROFESSIONALS TO TIMELY PREPARE AND FILE FORM 990. THEY WERE ALWAYS ASSURED THAT ALL TAX RETURNS HAD BEEN FILED AND THAT THE CPA FIRM AND MANAGEMENT COMPANY HAD TAKEN CARE OF EVERYTHING. THEY RELIED UPON THESE ASSURANCES AND REPRESENTATIONS AND THEREFOR ASSUMED ALL TAX MATTERS WERE IN PROPER ORDER, AND HAD NO REASON TO ASSUME OTHERWISE. THE ASSOCIATION HAS A GOOD HISTORY OF TIMELY TAX FILINGS. ADDITIONALLY, THE ASSOCIATION HAS IN THE PAST AND CONTINUES TODAY TO EXERCISE CAREFUL BUSINESS PRUDENCE WITH RESPECT TO ITS TAX FILING OBLIGATIONS. PLEASE ACCEPT THIS AS THE ASSOCIATION'S FORMAL REQUEST FOR WAIVING THE PENALTY AND ABATEMENT THEREOF. THE ASSOCIATION, ACTING THROUGH ITS BOARD OF DIRECTORS, HAD REASONABLE CAUSE AS NOTED IN INTERNAL REVENUE CODE SECTION 6652(C)(3), REGULATIONS SEC. 301.6652-2(F), AND RELEVANT COURT CASES TO WAIVE THE PENALTY IN THIS SITUATION. THANK YOU FOR YOUR CONSIDERATION IN THIS MATTER. IF YOU HAVE ANY QUESTIONS OR IF WE CAN BE OF ASSISTANCE, PLEASE FEEL FREE TO CONTACT THE PREPARER.