Rambin-Wallace Water System Inc
- Assets
- $890.5k
- Revenue
- $226.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Pelican, LA
- Founding
- Data as of
- 06/2023
- EIN
- 72-0745259
Organization Overview
Rambin-Wallace Water System Inc is located in Pelican, LA. Rambin-Wallace 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 06/2023, Rambin-Wallace Water System Inc generated $226.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $268.8k during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 6 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 WATER TO RURAL COMMUNITY IN DESOTO PARISH IN NORTHWEST LOUISIANA
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE RURAL WATER SYSTEM TO PROVIDE WATER TO APPROXIMATELY 273 RESIDENCES AND FARMS WHICH WOULD OTHERWISE NOT HAVE A RELAIBLE SOURCE OF POTABLE WATER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Haire President | Trustee | $0 | |
Mark Haire Board Member | Trustee | $0 | |
J Hugh Joyner Secretary-Tr | Trustee | $0 | |
Francis P Lafitte Vice-Preside | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $300 |
| 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 | $300 |
| Total Program Service Revenue | $225,815 |
| Investment income | $74 |
| 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 | $226,189 |
| 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 | $29,148 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,617 |
| Fees for services: Management | $19,819 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,160 |
| 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 | $8,049 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,249 |
| Travel | $18,531 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,505 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,842 |
| Insurance | $6,977 |
| All other expenses | $15,517 |
| Total functional expenses | $268,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,445 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,433 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $35,787 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $639,388 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $62,496 |
| Total assets | $890,549 |
| Accounts payable and accrued expenses | $859 |
| 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 | $745,545 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,294 |
| Total liabilities | $748,698 |
| Net assets without donor restrictions | $141,851 |
| 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 | $890,549 |