Multi-County Water Supply
- Assets
- $4.6m
- Revenue
- $1.1m
- Investments
- $819.1k
- Employees
- 4
- Location
- Gatesville, TX
- Founding
- 02/1984
- Data as of
- 12/2021
- EIN
- 74-2146767
Organization Overview
Multi-County Water Supply is located in Gatesville, TX. The organization was established in 1984. 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 12/2021, Multi-County Water Supply employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Multi-County Water Supply 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 12/2021, Multi-County Water Supply generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $871.9k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION PROVIDES WATER TO RURAL WATER USERS. THEY HAD APPROX. 1300 ACTIVE CUSTOMERS AT YEAR END.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES WATER TO RURAL WATER USERS. THEY HAD APPROXIMATELY 1300 ACTIVE CUSTOMERS AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denton S Dick Operator | 40 | $69,086 | |
Katherine M Timmons Manager | 40 | $40,539 | |
Crystal Scott | 23 | $25,500 | |
William Forman Jr | 9 | $7,200 | |
Jimmy Wood Director | Trustee | 1 | $0 |
Ray Cassens 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 | $14,810 |
| 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 | $1,050,098 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,064,908 |
| 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. | $109,625 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,700 |
| Pension plan accruals and contributions | $4,054 |
| Other employee benefits | $0 |
| Payroll taxes | $11,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,312 |
| Fees for services: Accounting | $7,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,624 |
| Advertising and promotion | $985 |
| Office expenses | $8,923 |
| 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 | $53,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,843 |
| Insurance | $32,366 |
| All other expenses | $68,317 |
| Total functional expenses | $871,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $649,470 |
| Savings and temporary cash investments | $123,264 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,934 |
| 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 | $4,832 |
| Net Land, buildings, and equipment | $2,780,024 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $819,088 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $99,347 |
| Total assets | $4,613,959 |
| Accounts payable and accrued expenses | $88,542 |
| 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 | $1,159,002 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $934 |
| Total liabilities | $1,248,478 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $219,776 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,145,705 |
| Total liabilities and net assets/fund balances | $4,613,959 |
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