Lorman Waterworks Assn Inc
- Assets
- $2.5m
- Revenue
- $330.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Lorman, MS
- Founding
- 09/1966
- Data as of
- 06/2022
- EIN
- 64-0438489
Organization Overview
Lorman Waterworks Assn Inc is located in Lorman, MS. 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 06/2022, Lorman Waterworks Assn Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lorman Waterworks Assn 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 06/2022, Lorman Waterworks Assn Inc generated $330.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $552.6k during the year ending 06/2022. 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
THE ORGANIZATION IS A RURAL WATER ASSOCIATION PROVIDING WATER TO AREAS OF JEFFERSON AND CLAIBORNE COUNTIES IN SOUTHWEST MISSISSIPPI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER TO AREAS OF JEFFERSON AND CLAIBORNE COUNTIES IN SOUTHWEST MISSISSIPPI.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tommy Bass Director | Officer | $0 | |
Tracy Collins President | Officer | $0 | |
Arthur Davis Vice Preside | Officer | $0 | |
Warren Ellis Director | Officer | $0 | |
Dietra Marshall Secretary | Officer | $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 | $329,560 |
| Investment income | $583 |
| 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 | $330,168 |
| 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 | $114,408 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,943 |
| 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 | $6,888 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,023 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,855 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $146,400 |
| Insurance | $17,800 |
| All other expenses | $15,098 |
| Total functional expenses | $552,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $245,160 |
| Savings and temporary cash investments | $317,027 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,967 |
| Prepaid expenses and deferred charges | $6,088 |
| Net Land, buildings, and equipment | $1,867,725 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $181 |
| Total assets | $2,532,443 |
| Accounts payable and accrued expenses | $18,108 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,114,836 |
| Total liabilities | $1,132,944 |
| Net assets without donor restrictions | $1,399,499 |
| 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 | $2,532,443 |
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