Loop 360 Water Supply Corporation
- Assets
- $8.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 02/2002
- Data as of
- 03/2023
- EIN
- 74-2337259
Organization Overview
Loop 360 Water Supply Corporation is located in Austin, TX. The organization was established in 2002. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loop 360 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 03/2023, Loop 360 Water Supply Corporation generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $1.8m during the year ending 03/2023. While expenses have increased by 3.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION FURNISHES WATER SUPPLY TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING WATER SUPPLY TO THE CORPORATION'S MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Bendele President | OfficerTrustee | 0 | $2,850 |
Nick Tsourmas Secretary | OfficerTrustee | 0 | $2,700 |
Glenn West Vice President | OfficerTrustee | 0 | $2,250 |
Richard Sieling Treasurer | OfficerTrustee | 0 | $3,150 |
Ross Cummings Director | Trustee | 0 | $2,850 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Awr Services Inc Management & Acctg | 3/30/19 | $518,449 |
Wastewater Transport Services Disposal | 3/30/19 | $124,150 |
Gray Engineering Engineering | 3/30/19 | $144,990 |
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 | $2,406,672 |
| Investment income | $34,001 |
| 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 | $2,484,076 |
| 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. | $10,950 |
| Compensation of current officers, directors, key employees. | $10,950 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,850 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $131,493 |
| Fees for services: Legal | $59,284 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,712 |
| Advertising and promotion | $0 |
| Office expenses | $9,198 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,520 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $288,488 |
| Insurance | $30,760 |
| All other expenses | $343,537 |
| Total functional expenses | $1,843,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $444,044 |
| Savings and temporary cash investments | $1,366,091 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $218,279 |
| 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 | $11,636 |
| Net Land, buildings, and equipment | $5,964,523 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,711 |
| Total assets | $8,039,284 |
| Accounts payable and accrued expenses | $555,046 |
| 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 | $1,237,245 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,792,291 |
| Net assets without donor restrictions | $6,246,993 |
| 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 | $8,039,284 |