Minnehaha Community Water Corporation
- Assets
- $39.0m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 18
- Location
- Dell Rapids, SD
- Founding
- 12/1983
- Data as of
- 12/2021
- EIN
- 46-0318665
Organization Overview
Minnehaha Community Water Corporation is located in Dell Rapids, SD. The organization was established in 1983. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Minnehaha Community Water Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnehaha Community Water Corporation 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 12/2021, Minnehaha Community Water Corporation generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 4.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE WATER SERVICE FOR USE AND BENEFIT OF ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF WATER TO MINNEHAHA COUNTY RESIDENTS
DEPRECIATION EXPENSE, AMORTIZATION EXPENSE AND DIRECTOR'S COMPENSATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Buss Executive Di | Officer | 40 | $148,672 |
Lloyd Rave President | OfficerTrustee | 2 | $3,575 |
David Stearns Director | Trustee | 0.25 | $2,650 |
Rodney Vander Vliet Vice-Preside | OfficerTrustee | 0.5 | $2,500 |
David Howard Director | Trustee | 0.25 | $2,300 |
Paul Hentges Secretary | OfficerTrustee | 0.5 | $2,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $5,356,992 |
| Investment income | $41,114 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,700 |
| 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 | $48,442 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,689,151 |
| 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. | $196,753 |
| Compensation of current officers, directors, key employees. | $196,753 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $590,183 |
| Pension plan accruals and contributions | $129,237 |
| Other employee benefits | $132,837 |
| Payroll taxes | $61,184 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,940 |
| Fees for services: Accounting | $12,718 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $16,581 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,513 |
| Interest | $105,862 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $924,408 |
| Insurance | $55,681 |
| All other expenses | $242,887 |
| Total functional expenses | $4,053,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,729,888 |
| Savings and temporary cash investments | $674,382 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $251,327 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $446,386 |
| Prepaid expenses and deferred charges | $4,591,575 |
| Net Land, buildings, and equipment | $29,857,272 |
| Investments—publicly traded securities | $1,261,387 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $147,416 |
| Total assets | $38,959,633 |
| Accounts payable and accrued expenses | $325,569 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,510,545 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $960,005 |
| Total liabilities | $3,796,119 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,577,325 |
| Paid-in or capital surplus, or land, building, or equipment fund | $8,035,609 |
| Retained earnings, endowment, accumulated income, or other funds | $23,550,580 |
| Total liabilities and net assets/fund balances | $38,959,633 |
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