Fouke Water Supply Corp
- Assets
- $7.9m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 7
- Location
- Mineola, TX
- Founding
- 02/1981
- Data as of
- 12/2022
- EIN
- 75-1456077
Organization Overview
Fouke Water Supply Corp is located in Mineola, TX. 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, Fouke Water Supply Corp employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fouke Water Supply Corp 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, Fouke Water Supply Corp generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 4.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE POTABLE WATER SERVICE TO RURAL MEMBERS WHICH CURRENTLY INCLUDES APPROXIMATELY 2500 ACTIVE ACCOUNTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVES APPROXIMATELY 2,500 RESIDENCES AND BUSINESSES IN THE RURAL AREA. THEY PROVIDE WATER TO THE MEMBERS IN THE AREA THAT WOULD OTHERWISE NOT BE AVAILABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morgan Whiteley Director | Trustee | 2 | $0 |
Richard Robinson Director | Trustee | 2 | $0 |
Mark Nowak Director | Trustee | 2 | $0 |
Shelley Chance Director | Trustee | 2 | $0 |
Katherine Cameron Director | Trustee | 2 | $0 |
Delene Allen Director | Trustee | 2 | $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 | $1,814,157 |
| Investment income | $7,114 |
| 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 | $1,821,271 |
| 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. | $8,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $420,880 |
| Pension plan accruals and contributions | $10,300 |
| Other employee benefits | $78,995 |
| Payroll taxes | $32,693 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,471 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,465 |
| Advertising and promotion | $0 |
| Office expenses | $20,311 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $157,599 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,874 |
| Interest | $91,440 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $257,904 |
| Insurance | $34,323 |
| All other expenses | $119,994 |
| Total functional expenses | $1,389,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,957 |
| Savings and temporary cash investments | $1,682,016 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,913 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $108,386 |
| Prepaid expenses and deferred charges | $31,946 |
| Net Land, buildings, and equipment | $4,700,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,189,875 |
| Total assets | $7,923,885 |
| Accounts payable and accrued expenses | $20,383 |
| 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 | $2,188,848 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,209,231 |
| Net assets without donor restrictions | $0 |
| 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 | $682,735 |
| Retained earnings, endowment, accumulated income, or other funds | $5,031,919 |
| Total liabilities and net assets/fund balances | $7,923,885 |