Bond Madison Water Company
- Assets
- $13.0m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Pocahontas, IL
- Founding
- 03/1999
- Data as of
- 12/2023
- EIN
- 37-1329067
Organization Overview
Bond Madison Water Company is located in Pocahontas, IL. The organization was established in 1999. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. As of 12/2023, Bond Madison Water Company employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bond Madison Water Company is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Bond Madison Water Company generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $3.5m during the year ending 12/2023. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WATER TO RURAL MEMBER CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER TO RURAL MEMBER CUSTOMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darren Apken Trustee | Trustee | 1 | $1,025 |
Brent Whittaker Trustee | Trustee | 1 | $1,300 |
Richard Accornero Trustee | Trustee | 1 | $1,125 |
Laura Knackstedt Trustee | Trustee | 1 | $900 |
David Frueh Trustee | Trustee | 1 | $700 |
Mike Vonderhaar Secretary | Officer | 1 | $1,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,000 |
| Total Program Service Revenue | $3,473,644 |
| Investment income | $56,253 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,579,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $9,950 |
| Compensation of current officers, directors, key employees. | $9,950 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $276,448 |
| Pension plan accruals and contributions | $15,596 |
| Other employee benefits | $69,796 |
| Payroll taxes | $20,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $685 |
| Fees for services: Accounting | $12,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,251 |
| Fees for services: Other | $49,398 |
| Advertising and promotion | $0 |
| Office expenses | $25,073 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $94,491 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $340,335 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $461,766 |
| Insurance | $17,452 |
| All other expenses | $48,749 |
| Total functional expenses | $3,537,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,512 |
| Savings and temporary cash investments | $1,107,344 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,179,098 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $561,836 |
| Other assets | $36,977 |
| Total assets | $13,039,767 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $10,900 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,717,686 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,676 |
| Total liabilities | $8,746,262 |
| Net assets without donor restrictions | $4,293,505 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,039,767 |