2026-07-24T13:23:03-05:00 2025-12-31 990EZ 2025-01-01 742798527 Terrace PUD Owners Association Inc % SHEA ALFORD TERR 4326883458 6 Desta Drive Suite 3000 Midland TX 79705 Mel Riggs PRESIDENT 4326883458 2026-07-24 2025 2025-03-06 01:10:19Z X N/A X X 32734 X 32734 0 0 0 0 0 0 32734 0 1688 21 44766 46475 -13741 41601 27860 X 41630 36153 82002 82002 0 0 123632 118155 82031 90295 41601 27860 THIS ASSOCIATION WAS FORMED FOR THE PROMOTION OF SOCIAL WELFARE. THE ORGANIZATION OPERATES BY ADMINISTERING AND ENFORCING COVENANTS AND OWNING AND MAINTAINING NON-COMMERCIAL, NON-RESIDENTIAL PROPERTIES TO SERVE THE COMMON GOOD AND GENERAL WELFARE OF THE GENERAL PUBLIC. THIS ORGANIZATION IS OPERATED TO ADMINISTER AND ENFORCE COVENANTS FOR PRESERVING THE ARCHITECTURE AND APPEARANCE OF THE AREA AND TO MAINTAIN COMMON GREENBELT AREAS INCLUDING IRRIGATION AND RETAINING WALLS FOR THE USE OF THE DEVELOPMENT AND THE GENERAL PUBLIC. THE ORGANIZATION WILL DEDICATE 100% OF ITS TIME TO THIS PURPOSE 365 DAYS A YEAR. Brock Thompson Treasurer 0.25 0 0 0 Rod Arend Vice President/Director 1.0 0 0 0 Robert Rendall Assistant Secretary 0.15 0 0 0 Mel Riggs President/Director 1.0 0 0 0 Alley Coffey Secretary/Director 0.5 0 0 0 false false false false false false false false false SHEA ALFORD 6 DESTA DRIVE SUITE 5725 MIDLAND TX 79705 4326883014 false false false false false false false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED GOVERNANCE AND MANAGEMENT ALL OF THE OFFICERS AND DIRECTORS HAVE A BUSINESS RELATIONSHIP WITH EACH OTHER. MEMBERS OF THE ORGANIZATION THE ORGANIZATION HAS MEMBERS WHO ARE PROPERTY OWNERS OF THE PLANNED URBAN DEVELOPMENT. MEMBERS HAVE VOTING RIGHTS FOR THE ELECTION OF INDIVIDUALS TO THE GOVERNING BODY AND TO ADOPT AND PUBLISH ASSOCIATION RULES. UPON DISSOLUTION, THE MEMBERS WOULD BE ENTITLED TO A PRO RATA SHARE OF ANY UNUSED MEMBERSHIP FEES. VOTING RIGHTS OF MEMBERS MEMBERS HAVE THE RIGHT TO CAST VOTES FOR THE ELECTION OF MEMBERS TO THE BOARD OF DIRECTORS OR GOVERNING BODY OF THE ORGANIZATION IN PERSON AT THE ANNUAL MEETING OR BY WRITTEN PROXY. DECISIONS OF GOVERNING BODY APPROVED BY MEMBERS THE GOVERNING BODY (BOARD OF DIRECTORS) SHALL HAVE THE POWER TO UNDERTAKE A NUMBER OF ACTIONS, INCLUDING, BUT NOT LIMITED TO, ADOPTING AND PUBLISHING THE ASSOCIATION RULES, INCLUDING REGULATIONS GOVERNING THE USE OF THE ASSOCIATION PROPERTY AND FACILITIES, AND THE PERSONAL CONDUCT OF THE MEMBERS AND THEIR GUESTS THEREON, AND TO ESTABLISH PENALTIES FOR THE INFRACTION THEREOF. THIS ACTION BY THE BOARD WILL ONLY BECOME EFFECTIVE UPON THE RATIFICATION BY A VOTE OF THE MEMBERS ENTITLED TO CAST 51% OF THE TOTAL NUMBER OF OWNER VOTES. DOCUMENTATION OF ACTIONS OF THE GOVERNING BODY MEETINGS AND ANY ACTIONS TAKEN BY THE BOARD OF DIRECTORS ARE DOCUMENTED IN MINUTES OF THE MEETING AND ARE MAINTAINED BY THE ORGANIZATION IN A CORPORATE BOOK. DOCUMENTATION OF ACTIONS TAKEN BY A COMMITTEE OF THE GOVERNING BODY THERE ARE CURRENTLY NO COMMITTEES APPOINTED BY THE BOARD TO TAKE ANY ACTIONS ON SPECIFIC ISSUES ON BEHALF OF THE ENTIRE BOARD, BUT IF SUCH A COMMITTEE WERE FORMED, ANY AND ALL ACTIONS TAKEN WOULD BE DOCUMENTED BY WRITTEN RECORD AND KEPT WITH THE MINUTES OF THE ORGANIZATION. FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED AND REVIEWED BY AT LEAST ONE OF THE OFFICERS OF THE GOVERNING BODY BEFORE IT IS FILED. AVAILABILITY OF GOVERNING DOCUMENTS THIS ASSOCIATION DOES NOT HAVE A WRITTEN CONFLICT OF INTEREST POLICY. THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE DURING REASONABLE BUSINESS HOURS FOR INSPECTION. FORM 990EZ PART I LINE 16 Description:LANDSCAPING Amount:43874 FORM 990EZ PART I LINE 16 Description:UTILITIES Amount:601 FORM 990EZ PART I LINE 16 Description:PROPERTY TAXES Amount:291