Springs Hill Water Supply Corporation
- Assets
- $46.4m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 32
- Location
- Seguin, TX
- Founding
- 01/1969
- Data as of
- 12/2023
- EIN
- 74-1610511
Organization Overview
Springs Hill Water Supply Corporation is located in Seguin, TX. The organization was established in 1969. 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 12/2023, Springs Hill Water Supply Corporation employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springs Hill Water Supply Corporation 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 12/2023, Springs Hill Water Supply Corporation generated $12.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $7.4m during the year ending 12/2023. While expenses have increased by 8.6% 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
RURAL WATER SUPPLY CORPORATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORPORATION PROVIDES POTABLE WATER TO HOUSEHOLDS AND BUSINESSES IN RURAL GUADALUPE COUNTY, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Martin President | OfficerTrustee | 1 | $0 |
Deborah Magin Treasurer | OfficerTrustee | 1 | $0 |
Bernie Mueller Secretary | OfficerTrustee | 1 | $600 |
Keith Steffen Director | Trustee | 1 | $0 |
Steve Ramsey Director | Trustee | 1 | $0 |
Irene Moreno-Ybarra Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
America's Construction Construction | 12/30/23 | $450,493 |
Rln Maintenance | 12/30/23 | $179,211 |
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 | $231,486 |
| Investment income | $453,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,467,644 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,273,886 |
| 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. | $100,566 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,384,941 |
| Pension plan accruals and contributions | $34,129 |
| Other employee benefits | $254,699 |
| Payroll taxes | $117,348 |
| Fees for services: Management | $3,250 |
| Fees for services: Legal | $296,861 |
| Fees for services: Accounting | $23,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,527,446 |
| Advertising and promotion | $2,227 |
| Office expenses | $115,580 |
| Information technology | $74,508 |
| Royalties | $0 |
| Occupancy | $2,795 |
| Travel | $11,756 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,053 |
| Interest | $197,952 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,477,313 |
| Insurance | $144,928 |
| All other expenses | $270,152 |
| Total functional expenses | $7,350,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,805,558 |
| Savings and temporary cash investments | $19,019,911 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $945,480 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $359,800 |
| Prepaid expenses and deferred charges | $72,516 |
| Net Land, buildings, and equipment | $22,209,378 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,964,608 |
| Total assets | $46,377,251 |
| Accounts payable and accrued expenses | $1,145,491 |
| Grants payable | $0 |
| Deferred revenue | $3,071,000 |
| 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 | $4,250,498 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $126,065 |
| Total liabilities | $8,593,054 |
| Net assets without donor restrictions | $37,784,197 |
| 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 | $46,377,251 |