Mulberry-Fairplains Water Association Inc
- Assets
- $2.2m
- Revenue
- $828.5k
- Investments
- $0.0
- Employees
- 5
- Location
- North Wilkesboro, NC
- Founding
- 02/1966
- Data as of
- 06/2023
- EIN
- 56-0809193
Organization Overview
Mulberry-Fairplains Water Association Inc is located in North Wilkesboro, NC. The organization was established in 1966. 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 06/2023, Mulberry-Fairplains Water Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mulberry-Fairplains Water Association 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 06/2023, Mulberry-Fairplains Water Association Inc generated $828.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $858.9k during the year ending 06/2023. While expenses have increased by 5.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE POTABLE WATER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE POTABLE WATER TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Brown Director | Trustee | 1 | $0 |
Eddie Caudill Director | Trustee | 1 | $0 |
Edward Porter Director | Trustee | 1 | $0 |
Jonathan Billings Director | Trustee | 1 | $0 |
Dave Whitley Director | Trustee | 1 | $0 |
Billy Felts Director | Trustee | 1 | $0 |
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 | $0 |
| Investment income | $717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $91,848 |
| 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 | $693,747 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $828,517 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $280,234 |
| Pension plan accruals and contributions | $106,300 |
| Other employee benefits | $3,607 |
| Payroll taxes | $27,622 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,847 |
| Office expenses | $28,149 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,079 |
| Travel | $1,720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,688 |
| Insurance | $39,183 |
| All other expenses | $25,444 |
| Total functional expenses | $858,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,923 |
| Savings and temporary cash investments | $568,572 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $53,794 |
| Loans from Officers, Directors, or Controlling Persons | $50,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $75,401 |
| Prepaid expenses and deferred charges | $3,360 |
| Net Land, buildings, and equipment | $1,470,842 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,223,892 |
| Accounts payable and accrued expenses | $238,775 |
| Grants payable | $0 |
| Deferred revenue | $38,320 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,730 |
| Total liabilities | $296,825 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $24,183 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,902,884 |
| Total liabilities and net assets/fund balances | $2,223,892 |