Kingbrook Rural Water System Inc
- Assets
- $65.2m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 21
- Location
- Arlington, SD
- Founding
- 06/1977
- Data as of
- 12/2023
- EIN
- 46-0322961
Organization Overview
Kingbrook Rural Water System Inc is located in Arlington, SD. The organization was established in 1977. 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 12/2023, Kingbrook Rural Water System Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kingbrook Rural Water System Inc 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, Kingbrook Rural Water System Inc generated $12.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $6.9m during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 9 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
SALE OF WATER TO MEMBERS IN HAMLIN, CLARK, KINGSBURY, BROOKINGS, LAKE, MOODY, MINER, MINNEHAHA, BEADLE, SANBORN AND MCCOOK COUNTIES IN SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KINGBROOK RURAL WATER SYSTEM, INC. WAS ESTABLISHED TO ACQUIRE, CONSTRUCT, MAINTAIN AND OPERATE A SYSTEM FOR THE DIVERSION, SUPPLY, STORAGE, AND DISTRIBUTION OF HIGH QUALITY WATER TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heath Thompson General Manager | 40 | $111,409 | |
Marvin Antonen Chairman | Officer | 1 | $6,200 |
Doyle Renaas Director | Trustee | 1 | $4,600 |
Corey Dorhout Director | Trustee | 1 | $4,600 |
Brian Christensen Director | Trustee | 1 | $4,400 |
Rodney Stormo Sec/treasurer | Officer | 1 | $4,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,041,096 |
| 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 | $3,041,096 |
| Total Program Service Revenue | $8,797,856 |
| Investment income | $251,074 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $138,682 |
| 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 | $12,480,485 |
| 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. | $143,609 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,053,945 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $552,665 |
| Payroll taxes | $89,027 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,059 |
| Fees for services: Accounting | $17,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,538 |
| Advertising and promotion | $0 |
| Office expenses | $35,998 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,868 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $609,605 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,380,688 |
| Insurance | $78,199 |
| All other expenses | $313,922 |
| Total functional expenses | $6,944,763 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,800,042 |
| Savings and temporary cash investments | $2,024,943 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $566,101 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $112,291 |
| Inventories for sale or use | $647,060 |
| Prepaid expenses and deferred charges | $145,359 |
| Net Land, buildings, and equipment | $52,345,823 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,604,874 |
| Total assets | $65,246,493 |
| Accounts payable and accrued expenses | $725,525 |
| Grants payable | $0 |
| Deferred revenue | $26,498 |
| 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 | $20,405,990 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,641,628 |
| Total liabilities | $26,799,641 |
| Net assets without donor restrictions | $36,255,123 |
| Net assets with donor restrictions | $2,191,729 |
| 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 | $65,246,493 |