Twin Falls Canal Company
- Assets
- $15.5m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 74
- Location
- Twin Falls, ID
- Founding
- 07/1926
- Data as of
- 10/2020
- EIN
- 82-0172200
Organization Overview
Twin Falls Canal Company is located in Twin Falls, ID. The organization was established in 1926. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 10/2020, Twin Falls Canal Company employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Falls Canal Company 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 10/2020, Twin Falls Canal Company generated $6.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $6.7m during the year ending 10/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
DELIVERY OF IRRIGATION WATER TO ITS MEMBERS - EXEMPT ORGANIZATION PER IRC 501(C)12
Describe the Organization's Program Activity:
Part 3 - Line 4a
DELIVERY OF IRRIGATION WATER TO ITS MEMBERS - EXEMPT ORGANIZATION PER IRC 501(C)12
DELIVERY OF IRRIGATION WATER TO ITS MEMBERS - EXEMPT ORGANIZATION PER IRC 501(C)12
DELIVERY OF IRRIGATION WATER TO ITS MEMBERS - EXEMPT ORGANIZATION PER IRC 501(C)12
DELIVERY OF IRRIGATION WATER TO ITS MEMBERS - EXEMPT ORGANIZATION PER IRC 501(C)12
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Olmstead CEO | Officer | $0 | |
Roger Blass President | Trustee | $0 | |
Phil Blick Vice Preside | Trustee | $0 | |
Dan Shewmaker Director | Trustee | $0 | |
Rick Pearson Secretary | Trustee | $0 | |
David Patrick Treasurer | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $438,280 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,571 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,312,715 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $3,171,680 |
| Pension plan accruals and contributions | $382,060 |
| Other employee benefits | $661,237 |
| Payroll taxes | $270,627 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $203,146 |
| Fees for services: Accounting | $40,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,521 |
| Office expenses | $21,794 |
| Information technology | $3,493 |
| 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 | $67,360 |
| Interest | $48,408 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $663,749 |
| Insurance | $172,450 |
| All other expenses | $0 |
| Total functional expenses | $6,657,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $973,615 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $53,080 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $563,852 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $29,470 |
| Other assets | $8,223,093 |
| Total assets | $15,506,404 |
| Accounts payable and accrued expenses | $506,719 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $131,580 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $607,266 |
| Unsecured mortgages and notes payable | $850,441 |
| Other liabilities | $0 |
| Total liabilities | $1,964,426 |
| 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 | $202,690 |
| Total liabilities and net assets/fund balances | $13,541,978 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Twin Falls Canal Company Twin Falls, ID | $15,506,404 | $6,312,715 |
Davis & Weber Counties Canal Co Sunset, UT | $75,121,489 | $8,211,591 |
Oaks Park Association Portland, OR | $15,243,848 | $2,154,099 |
Aberdeen-Springfield Canal Co Aberdeen, ID | $4,973,666 | $3,199,383 |
Big Wood Canal Company Shoshone, ID | $14,862,261 | $3,464,114 |
Washingtons National Park Fund Seattle, WA | $3,011,773 | $2,578,646 |
Discover Your Northwest Seattle, WA | $2,832,800 | $3,399,427 |
Bear River Canal Co Tremonton, UT | $6,239,998 | $2,499,568 |
Strawberry High Line Canal Company Payson, UT | $4,583,401 | $1,788,945 |
Hat Butte Mutual Canal Company Nampa, ID | $519,153 | $1,258,792 |
Boys & Girls Club Of The Umpqua Valley Roseburg, OR | $4,819,111 | $1,858,339 |
Happy Canyon Company Inc Pendleton, OR | $1,239,056 | $1,841,169 |