Southern Rankin Water Association Inc
- Assets
- $2.4m
- Revenue
- $505.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Florence, MS
- Founding
- 07/1981
- Data as of
- 12/2022
- EIN
- 64-0595931
Organization Overview
Southern Rankin Water Association Inc is located in Florence, MS. The organization was established in 1981. 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, Southern Rankin Water Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Rankin 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 12/2022, Southern Rankin Water Association Inc generated $505.2k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $505.8k during the year ending 12/2022. While expenses have increased by 12.3% per year over the past 4 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
WATER DISTRIBUTION AND MAINTENANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER AND MAINTENANCE OF RURAL WATER DISTRIBUTION SYSTEM FOR AN AVERAGE OF 1,300 USERS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Williams President/dir | OfficerTrustee | 10 | $3,025 |
Billy Terrell Vpres./dir | OfficerTrustee | 5 | $2,305 |
Gayland Sales Director | Trustee | 5 | $2,345 |
Charlie Mayes Director | Trustee | 5 | $2,425 |
Miles Mcwilliams Director | Trustee | 5 | $2,345 |
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 | $501,302 |
| Investment income | $3,868 |
| 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 | $505,170 |
| 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. | $12,445 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $108,673 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,457 |
| Payroll taxes | $8,422 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,056 |
| Fees for services: Accounting | $18,000 |
| 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 | $11,923 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,337 |
| Insurance | $8,999 |
| All other expenses | $232,449 |
| Total functional expenses | $505,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,778 |
| Savings and temporary cash investments | $796,542 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,709 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,176,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,904 |
| Total assets | $2,362,499 |
| Accounts payable and accrued expenses | $1,721 |
| 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 | $204,059 |
| Total liabilities | $205,780 |
| Net assets without donor restrictions | $2,156,719 |
| 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 | $2,362,499 |