2012-05-30T08:34:21-05:00 2011-12-31 521268363 DRAPER & MCGINLEY PA 365 W PATRICK ST FREDERICK MD 21701 990 2011-01-01 520857236 MONTGOMERY VILLAGE FOUNDATION INC MONT 3019480110 10120 APPLERIDGE ROAD MONTGOMERY VILLAGE MD 208861030 DAVID B HUMPTON 3019480110 2012-05-30 1 MICHELE MILLS P01444499 3016947411 2011 2016-02-24 21:20:13Z DAVID B HUMPTON 10120 APPLERIDGE RD MONTGOMERY VILLAGE MD 20886 8642585 0 X WWW.MVF.ORG X 1966 MD MONTGOMERY VILLAGE FOUNDATION, INC. (THE FOUNDATION), A NON-PROFIT MEMBERSHIP CORPORATION, WAS FORMED FOR THE PRESERVATION, PROTECTION, AND ENHANCEMENT OF THE VALUES AND AMENITIES IN MONTGOMERY VILLAGE, A PLANNED COMMUNITY. THE FOUNDATION HAS BEEN DELEGATED AND ASSIGNED THE POWERS OF OWNING, MAINTAINING, AND ADMINISTERING THE COMMON PROPERTIES AND FACILITIES, ADMINISTERING AND ENFORCING THE COVENANTS AND RESTRICTIONS, AND COLLECTING AND DISBURSING THE ASSESSMENTS AND CHARGES CREATED BY COVENANTS. MEMBERSHIP IN THE FOUNDATION IS AUTOMATIC WITH THE PURCHASE OF A DWELLING UNIT IN MONTGOMERY VILLAGE. 9 9 267 80 164351 -41670 5460513 5569083 551059 585722 169350 378283 2123099 2033622 8304021 8566710 0 0 0 0 4702950 5029382 0 0 0 2736212 2706414 7439162 7735796 864859 830914 11210378 12388437 1107262 897240 10103116 11491197 X MONTGOMERY VILLAGE FOUNDATION, INC. (THE FOUNDATION), A NON-PROFIT MEMBERSHIP CORPORATION, WAS FORMED FOR THE PRESERVATION, PROTECTION, AND ENHANCEMENT OF THE VALUES AND AMENITIES IN MONTGOMERY VILLAGE, A PLANNED COMMUNITY. THE FOUNDATION HAS BEEN DELEGATED AND ASSIGNED THE POWERS OF OWNING, MAINTAINING, AND ADMINISTERING THE COMMON PROPERTIES AND FACILITIES, ADMINISTERING AND ENFORCING THE COVENANTS AND RESTRICTIONS, AND COLLECTING AND DISBURSING THE ASSESSMENTS AND CHARGES CREATED BY COVENANTS. MEMBERSHIP IN THE FOUNDATION IS AUTOMATIC WITH THE PURCHASE OF A DWELLING UNIT IN MONTGOMERY VILLAGE. 0 1 1368713 265920 MONTGOMERY VILLAGE FOUNDATION FUND - PROVIDES FOR THE GENERAL GOVERNANCE, OPERATION, AND MAINTENANCE OF COMMON PROPERTIES (PARKS AND LAKES), ARCHITECTURAL STANDARDS, AND COMMUNICATIONS. ASSESSMENTS ARE LEVIED ON ALL MEMBERS OF THE FOUNDATION TO SUPPORT THIS FUNCTION. 2270683 421371 DESIGNATED USER FACILITIES FUND - PROVIDES FOR THE OPERATION AND MAINTENANCE OF THE COMMUNITY CENTERS, POOLS, AND TENNIS COURTS OWNED BY THE FOUNDATION. ASSESSMENTS ARE LEVIED ONLY ON MEMBERS WHO ARE DESIGNATED TO USE THE FACILITIES. 664680 824138 COMMUNITY MANAGEMENT FUND - PROVIDES MANAGEMENT SERVICES, AT COST, TO THE HOMES CORPORATIONS AND CONDOMINIUM ASSOCIATIONS WITHIN MONTGOMERY VILLAGE THAT CONTRACT FOR THE SERVICE. REVENUE IS GENERATED FROM THE USERS OF THIS FUNCTION. 828989 1191689 INCLUDES USER FEE PROGRAMS, POPLAR SPRING AND THE MAINTENANCE ACTIVITY FUND. 828989 1191689 5133065 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 63 0 267 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X W GREGORY SNELLINGS CPA 3019480110 10120 APPLERIDGE ROAD MONTGOMERY VILLAGE MD 208861030 ROBERT HYDORN 1.00 X X 0 0 0 JOHN DRISCOLL 1.00 X X 0 0 0 DENNIS CLARK 1.00 X 0 0 0 SCOTT DYER 1.00 X 0 0 0 MARK FIRLEY 1.00 X 0 0 0 SCOTT JOHNSON 1.00 X 0 0 0 LINC PERLEY 1.00 X 0 0 0 RICHARD WRIGHT 1.00 X 0 0 0 PETE YOUNG 1.00 X 0 0 0 BETH-ELLEN BERRY CPA 1.00 X 0 0 0 DAVID HUMPTON 40.00 X 163420 0 20850 MICHAEL CONROY 40.00 X 59908 0 3894 W GREGORY SNELLINGS CPA 40.00 X 144268 0 10828 367596 0 35572 2 0 1 0 AETNA PO BOX 804735 CHICAGO IL 60680 INSURANCE 174226 PHILADELPHIA INSURANCE PO BOX 70251 PHILADELPHIA PA 19176 INSURANCE 139851 AMERICAN PROTECTIVE SERVICES PO BOX 1430 GERMANTOWN MD 20875 SECURITY 119192 POOLSERVICE COMPANY 4320 LEE HIGHWAY ARLINGTON VA 22207 POOL REPAIRS/MAINTENANCE 112773 4 5568583 500 5569083 CLASSES/OTHER PROGRAMS 900099 421371 421371 VILLAGE NEWS ADS 541800 164351 164351 585722 130158 130158 324000 75875 248125 248125 248125 MAINTENANCE FEE INCOME 811000 943564 943564 MANAGEMENT FEE INCOME 561000 824138 824138 OTHER INCOME 900099 265920 265920 2033622 8566710 2703118 164351 130158 367596 147038 220558 3560310 1974715 1585595 140759 75165 65594 542087 289704 252383 418630 253769 164861 98979 1248 97731 32739 32739 52539 33007 19532 237799 109971 127828 345299 278254 67045 506340 506340 146110 84762 61348 SUPPLIES 328317 255571 72746 LANDSCAPE/MAINTENANCE 285355 152816 132539 BUSINESS EXPENSES 212404 163855 48549 OTHER 133270 53626 79644 327263 1259564 -932301 7735796 5133065 2602731 0 305466 260918 544278 841731 747349 663164 74322 49769 9745736 6241841 3655167 3503895 5883796 7068960 11210378 12388437 735600 544062 371662 353178 1107262 897240 X 10097116 11487760 6000 3437 10103116 11491197 11210378 12388437 X 830914 557167 X X 0 1 1 X 0 1 1 0 1575180 1062220 512960 1084080 921470 162610 7086476 4258151 2828325 3503895 8566710 7735796 830914 557167 557167 1388081 9123877 557167 557167 8566710 0 8566710 7735796 0 7735796 0 7735796 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: DURING 2009, THE FOUNDATION ADOPTED FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10 AND ACCOUNTING STANDARDS UPDATE (ASU) 2009-06. AS PART OF THAT ADOPTION, THE FOUNDATION CONSIDERED THE POSSIBILITY OF UNCERTAIN TAX POSITIONS AND THEIR IMPACT ON THE FINANCIAL POSITION OF THE FOUNDATION. THE MOST SIGNIFICANT TAX POSITIONS OF THE FOUNDATION ARE ITS TAX-EXEMPT STATUS AND THE DETERMINATION OF UNRELATED BUSINESS TAXABLE INCOME. AS OF DECEMBER 31, 2011 AND 2010, MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS. THE FOUNDATION ACCRUES INTEREST AND PENALTIES (IF APPLICABLE) IN INCOME TAXES PAYABLE ON THE STATEMENT OF FINANCIAL POSITION AND RECORDS ANY EXPENSE IN THE PROVISION FOR INCOME TAXES IN THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. THE FOUNDATION HAD NO PENALTIES OR INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010. PURSUANT TO INTERNAL REVENUE SERVICE RULES FOR THE STATUTE OF LIMITATION, THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, AND LOCAL INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR YEARS BEFORE 2008. X X X X 0 0 0 0 0 0 0 0 0 DAVID HUMPTON 152420 0 5000 0 6000 0 20850 0 0 0 184270 0 0 0 W GREGORY SNELLINGS CPA 139268 0 5000 0 0 0 10828 0 0 0 155096 0 0 0 CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 THE BOARD OF DIRECTORS APPROVED THE OUTSOURCING OF MVF'S LANDSCAPING AND MAINTENANCE FUNCTION ACTIVITIES DURING 2011. WITH THIS DECISION, THE MAINTENANCE ACTIVITY FUND WILL BE ELIMINATED AS ONE OF MVF'S SIX OPERATING FUNDS AFTER DECEMBER 31, 2011. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE FOUNDATION IS AUTOMATIC WITH THE PURCHASE OF A DWELLING UNIT IN MONTGOMERY VILLAGE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE ANY CHANGES TO THE BYLAWS. ALSO, THROUGH THE REPRESENTATIVES, THEY VOTE TO INCREASE THE ASSESSMENT CEILING. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT COPY OF THE FORM 990 WAS PROVIDED TO MANAGEMENT AND THE MVF BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE COMPLETED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE EXECUTIVE VICE PRESIDENT IS DETERMINED BY THE BOARD OF DIRECTORS. THAT POSITION IS ALSO INCLUDED IN ANY COMPENSATION SURVEYS PERFORMED. SALARY INCREASES FOR EMPLOYEES ARE SET ANNUALLY BY THE BOARD OF DIRECTORS DURING THE BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 CERTAIN DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE; OTHERS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 557,167. PART XI LINE 2C THE AUDIT COMMITTEE REVIEWS AND RECOMMENDS ACCEPTANCE OF THE AUDITED FINANCIAL STATEMENTS TO THE MVF BOARD.