Incorporate or not?

We are a small association, the checking account balance averages $5000 when everyone pays their dues. We do have a hot head that is continually threatening to sue and we have a pond in one of the commons areas. We have three commons areas that are actually owned by residents with a association easements on them. There are no buildings, just a association sign, flowerbeds, private road and pond maintenance. The reason we would incorporate is liability, for example if someone drowns in the pond or if the threats to sue ever materialize. We have residents questioning the necessity of incorporation.

Opinions?

Yes, you should incorporate.
That is the reason to do it.
Incorporation protects the membership.

see:

Differences Between Incorporated & Unincorporated HOAs

INCORPORATION of HOA, IS IT GOOD, BAD, OR SHOULD YOU BE INDIFFERENT?

What You Need to Know About Unincorporated Nonprofit Associations


Is that monthly or annual?


not relevant


I expect you mean a storm water retention pond.

These will need to be dredged at some point in time in the future.
It won't be an option, it will be mandated by the EPA or the State equivalent of the EPA.


Private roads are expensive.
Milling and Paving in our area is around $15 a square yard.
Our Reserve Study is based on $16 per square yard.

There's no good reason to NOT incorporate.

Exactly my point pitA, we have a few trouble makers, naysayers, pains in the you know what, whatever you would like to call them in our association.

That you like flat hollow unleavened bread that can be split open to hold a filling.

Although, to be honest, you can really become a pain in the petute when you get going on the subject.