Thomas Bridge Water Corp
- Assets
- $4.0m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Marion, VA
- Founding
- 01/1980
- Data as of
- 12/2022
- EIN
- 54-0887326
Organization Overview
Thomas Bridge Water Corp is located in Marion, VA. The organization was established in 1980. 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 12/2022, Thomas Bridge Water Corp employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thomas Bridge Water Corp 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 12/2022, Thomas Bridge Water Corp generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $792.9k during the year ending 12/2022. While expenses have increased by 0.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ADEQUATE WATER TO THE CITIZENS OF THE THOMAS BRIDGE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THOMAS BRIDGE WATER CORPORATION PROVIDES WATER SERVICE TO APPROXIMATELY 1700 WATER CUSTOMERS WHICH WOULD NOT HAVE A CLEAN AND ADEQUATE WATER SUPPLY IF NOT FOR THE COMPANY.
THOMAS BRIDGE WATER CORPORATION PROVIDES WATER SERVICE TO APPROXIMATELY 1700 WATER CUSTOMERS WHICH WOULD NOT HAVE A CLEAN AND ADEQUATE WATER SUPPLY IF NOT FOR THE COMPANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francis J Copenhaver Jr Administrato | Trustee | 40 | $29,676 |
Jeff Spickard Vice Preside | OfficerTrustee | 1 | $900 |
Bobby Combs Secretary/tr | OfficerTrustee | 1 | $900 |
Ellis Rouse President | Trustee | 1 | $825 |
Harry Dean Director | OfficerTrustee | 1 | $750 |
Michael Powers Director | Trustee | 1 | $750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $133,234 |
| 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 | $133,234 |
| Total Program Service Revenue | $890,183 |
| Investment income | $620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,036,942 |
| 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. | $34,326 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $310,124 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,779 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,300 |
| 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 | $17,418 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,091 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,723 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $34,836 |
| All other expenses | $22,603 |
| Total functional expenses | $792,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,928 |
| Savings and temporary cash investments | $473,996 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $186,388 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $60,986 |
| Prepaid expenses and deferred charges | $4,788 |
| Net Land, buildings, and equipment | $1,816,628 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,386,693 |
| Total assets | $3,977,407 |
| Accounts payable and accrued expenses | $139,523 |
| 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 | $1,575,054 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,779 |
| Total liabilities | $1,747,356 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,436 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,244,766 |
| Retained earnings, endowment, accumulated income, or other funds | -$16,151 |
| Total liabilities and net assets/fund balances | $3,977,407 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Thomas Bridge Water Corp has recieved totaling $16,736.
| Awarding Organization | Amount |
|---|---|
Southeast Rural Community Assistance Project Inc Roanoke, VA PURPOSE: FACILITY DEVELOPMENT & REIMBURSEMENT PROGRAM | $16,736 |
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Fleming-Mason Energy Cooperative Inc Flemingsburg, KY | $142,667,683 | $79,467,396 |
A & N Electric Cooperative Tasley, VA | $203,944,683 | $76,232,163 |
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Jackson Purchase Energy Corporation Paducah, KY | $143,576,646 | $68,055,935 |
Caney Fork Electric Cooperative Inc Mcminnville, TN | $145,317,750 | $73,547,577 |
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