2024-05-31T12:40:31-07:00 2023-12-31 990 2023-01-01 661028792 ASOCIACION DE RESIDENTES DE ESTANCIAS DEL RIO INC ASOC 7873848900 EST DEL RIO 69 CALLE YAGUEZ AGUAS BUENAS PR 00703 ERNESTO RAMOS TREASURER 7873848900 2024-05-30 ERNESTO RAMOS 999009999 1 0 11 0 AAL2 2023 2023-04-26 12:10:37Z ERNESTO RAMOS EST DEL RIO 67 CALLE TANAMA AGUAS BUENAS PR 00703 140046 0 X X 2023 PR THE ASOCIACION DE RESIDENTES DE ESTNANCIAS DEL RIO INC (HOA) MANTAINS COMMON AREA IN GATED COMMUNITY, INCLUDING GREEN AREA AND RECREATIONAL FACILITIES. ENFORCE THE COVENANTS TO PRESERVE THE APPERANCE OF THE COMMUNITY. IN ADDITION, ENSURES THAT THE SECCURITY MEASURES ARE EEFECTIVE TO CARE FOR THE RESIDENTS OF OUR COMUNITY AND THEIR PROPERTIES. 7 7 0 7 0 0 0 0 0 140046 0 0 0 0 0 140046 0 0 0 0 0 0 0 0 0 0 140666 0 140666 0 -620 0 57722 0 7046 0 50676 THE HOA MAINTAINS THE COMMON AREA IN GATED COMMUNITY, INCLUDING GREEN AREA AND RECREATIONAL FACILITIES. ENFORCE THE COVENANTS TO PRESERVE THE APPEREANCE OF THE COMMUNITY. IN ADDITION, ENSURE THAT THE SECURITY MEASURES ARE EFFECTIVE TO CARE FOR THE RESIDENTS OF OUR COMUNITY AND THEIR PROPERTIES. 0 0 140666 0 140046 THE HOA IS CONSIDERED A SOCIAL WELFARE ORGANIZATION. THE HOA CHARGES MOUNTLY MAINTENANCE FEE TO COVER SEGURITY GUARD EXPENSES, REPRESENT 71% OF THE GROSS REVENUES, GARDENDER SERVICES, CLEANING SERVICES, MAINTENANCE EXPENSES TO SECURITY CAMARA SYSTEM, ACCESS CONTROL EQUIPMENTS AND EMERGENCY POWER GENERATOR. IN ADDITION, THE HOA HAS A COLLECTION COMPANY TO ENSURE FINANCIAL SUBTAINABLE. ALL SERVICES ARE PROVIDER BY INDEPENDENT CONTRACTOR. 0 0 0 140666 0 0 0 1 0 0 0 0 0 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 0 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 0 0 1 0 0 0 PR ERNESTO RAMOS 7873848900 EST DEL RIO 67 CALLE TANAMA AGUAS BUENAS PR 00703 FELIX VALENTIN PRESIDENT 5 X 0 0 0 RAYMOND RIVERO VICE-PRESIDENT 2 X 0 0 0 HILDAMAR RODRIGUEZ SECRETARY 2 X 0 0 0 ERNESTO RAMOS TREASURER 4 X 0 0 0 JOHNNY FERNANDEZ DIRECTOR 2 X 0 0 0 ALEXIS CORDERO DIRECTOR 2 X 0 0 0 NELSON CABALLERO DIRECTOR 4 X 0 0 0 0 0 0 0 0 0 0 0 0 HOME OWHER ASSOCIATION - SOCIAL WEALFARE 813990 140046 140046 0 0 0 0 0 0 140046 0 0 0 0 0 140046 140046 0 0 X 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 120490 120490 0 0 0 0 0 0 1553 1553 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 208 208 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5266 5266 0 0 4946 4946 0 0 8203 8203 0 0 140666 140666 0 0 X 0 35609 0 5704 0 0 0 3000 0 0 0 0 0 0 0 0 0 0 19075 5666 0 13409 0 0 0 0 0 0 0 0 0 0 0 57722 0 835 0 0 0 6211 0 0 0 0 0 0 0 0 0 0 0 0 0 7046 X 0 44972 0 5704 0 50676 0 57722 X -620 0 0 0 0 51296 X 0 0 0 0 0 0 140046 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19075 0 5666 13409 0 0 0 0 13409 Schedule D, Part IV, Line 1d THE EQUIPMENTS FOR $19,075, INCLUDING SURVEILLANCE CAMARA SYSTEM, EMERGENCY POWER PLANT (7KW), ELECTRIC GATE MOTORS, INTERCOMS AND AIR CONDITION TO THE SECURITY GUARDS 24/7. Form 990, Part VI, Section A, Line 6 THE GATED COMUNITY CONSISTS IN 68 RESIDENCES. THE OWNER OF THESE RESIDENTS ARE THE MEMBERS OF ASOCIACIÓN DE RESIDENTES DE ESTANCIAS DEL RIO INC (HOA). Form 990, Part VI, Section A, Line 7a DURING THE ANNUAL MEETING HOLD IN SEPTEMBER OF EACH YEAR, THE 68 MEMBERS (RESIDENTS) HAVE THE OPORTUNITY TO VOTE FOR THE NEW DIRECTORS OF BOARD OF DIRECTOR, WHTH IT CONSITS IN 7 DIRECTORS. IF THERE IS A VACANT IN THE BOARD OF DIRECTOR, DUE TO A MEMBER MOVE TO ANOTHER COMMUNITY, THE BOARD OF DIRECTOR MUST HOLD AN EXTRAORDINARY MEETING TO COVER IT. Form 990, Part VI, Section A, Line 7b DURING THE ANNUAL MEETING, THE BOARD OF DIRECTOR SUBMIT THE ANUAL BUDGET FOR THE NEXT CALENDAR YEAR FOR THE APROVAL OF THE MEMBERS, INCLUDING NORMAL OPERATION, ANY EXTRAORDINARY AND CAPITAL PROJECTS. HOWEVER, IF THE BOARD FACED AN EMERGENCY DAMAGES DUE TO A STORM AND THE REPAIR COST EXCEED $5,000, THEN THE BOARD MUST HOLD AN EXTRAORDINARY MEETING TO SUBMIT TO THE MEMBERS (RESIDENTS) FOR APPROVAL OF THE PROPOSED DISBURSMENTS. Form 990, Part VI, Section B, Line 11b THE TREASURER IS RESPONSIBLE TO SEND AN EMAIL WITH THE FORM 990 TO THE DIRECTOR, AFTER SUCH FORM WILL BE FILLED. Form 990, Part VI, Section C, Line 18 ANY PERSON CAN REQUEST THE EFILED FORM 990 TO IRS, THE TREASURER WILL BE RESPONSIBLE FOR DELIVERING THE INFORMATION VIA EMAIL. Form 990, Part VI, Section C, Line 19 THE HOA PREPARES MINUTES OF BOARD'S MEETING TO DOCUMENT DECISION MAKING AT LEAST EACH QUATER. IN ANNUAL MEETING WITH THE MEMBERS THE PRESIDENT PRESENTS AN UPDATE ANNUAL REPORT, INCLUDING THE DECISION MADE, THE STATUS FOR THE PENDING PROJECTS AND A SUMMARY OF THE COMPLETED PROJECTS. THE TRESURER PRESENTS ANNUAL FINANCIAL STATEMENT, INCLUDING A FINANCIAL ANALYSIS TO DETERMINE THE FINANCIAL EFFICIENCY TO COMPARE WITH PRIOR YEAR AND THE APROVED BUDGET. Form 990, Part IX, Line 11g PAYMENTS TO INDEPENDENT CONTRACTORS, QUALITY SECURITY SERIVES FOR $97,275 AND REPAIR AND MAINTENANCE FOR $23,215, INCLUDING THE FOLLOWING SERVICES, GARDENER, CLEANING, EXTERMINATING, PAINTER, PLUMBER, ELECTRICIAN, MAINTENANCE OF CONTROL ACCESS EQUIPMENTS, SURVEILLANCE CAMARA SYSTEM AND EMERGENCY POWER PLANT. IN OTHER EXPENSES INCLUDES UTILITIES AND THE EXPENSES INCURRED TO REQUEST TO THE IRS CONSIDERED OUR HOA AS EXEMPT ORGANIZATION. Form 990, Part IX, Line 24e INDEPENDENT CONTRACTOR: QUALITY SECURITY SERVICE CORP $97,275, REPAIR AND MAINTENCE $23,215 INCLUDING GARDENERS, CLEANING, EXTERMINATING, PLUMBING AND PAINTING VENDORS, UTILITY $5,476, SUPPLIES $1,504, INCLUDING CLEANING SUPPLIES AND OTHER EXPENSES $1,223, RELATED TO REQUEST IN ORDER TO THE IRS DETERMINE OUR EXEMPT STATUS. Form 990, Part X, Line 28 THE HOA HAS A CERTIFIED DEPOSIT OR $5,704, THAT AMOUNT AGREED WITH A RESERVE TO EXTRAORDINARY REPAIRS REQUIRED BY THE ASOCIATION'S BY-LAWS. Form 990, Part XI, Line 9 THE ASOCIATION (HOA) IS SUCCESOR COMPANY, ON JANUARY 2023, THE NEW HOA RECEIVED CASH, ACCOUNTS RECEIBABLE AND FIXED ASSETS AMOUNTED TO $51,296 FROM THE PREDECESSOR HOA, WHICH IT CONSIDERED AS A CONTRIBUTION TO NET ASSETS. THIS IS THE FIRST TIME THE ASOCIATION (HOA) MUST FILE THE FORM 990, BECAUSE THE HOA WAS RECONGIZED AS EXEMPT ORGANIZATION ON MAY 8, 2023, UNDER SEC 501(C)4. WE FILED IN PAPER THROUGH CERTIFIED MAIL ON APRIL 19, 2024. IT IS IMPORTANT MENTION THAT ENGLISH IS OUR SECOND LANGUAGE AND I DID NOT NOTICE THAT THE FORM 990 MUST BE FILLED ELECTRONALLY INSTEAD IN PAPER. LAST WEEK, WE RECEIVED A LETTER FROM IRS TO RETURN THE FORM 990 FILED IN PAPER AND EXPLAIN OUR ERROR. SORRY FOR THE INCONVINEANCE.