Twin Lakes Canal Co
- Assets
- $9.8m
- Revenue
- $667.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Weston, ID
- Founding
- 05/2002
- Data as of
- 12/2022
- EIN
- 82-0172360
Organization Overview
Twin Lakes Canal Co is located in Weston, ID. The organization was established in 2002. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Twin Lakes Canal Co employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Lakes Canal Co 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, Twin Lakes Canal Co generated $667.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $541.0k during the year ending 12/2022. While expenses have increased by 1.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMPANY PROVIDES IRRIGATION WATER TO AGRICULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE SUCCESSFULLY PROVIDE CLEAN IRRIGATION WATER TO AGRICULTURE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheralyn Bayles Secretary | Officer | 5 | $9,999 |
Judy Phillips Secretary | Officer | 20 | $2,161 |
Henry Hank Povey President | Trustee | 8 | $700 |
Andrew Beutler Director | Trustee | 4 | $600 |
Allan Swainston Director | Trustee | 2 | $450 |
Justin Roberts Director | Trustee | 4 | $425 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000 |
| 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 | $5,000 |
| Total Program Service Revenue | $662,745 |
| Investment income | $33 |
| 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 | $667,778 |
| 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. | $2,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $145,568 |
| Pension plan accruals and contributions | $7,273 |
| Other employee benefits | $0 |
| Payroll taxes | $19,301 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,335 |
| Fees for services: Accounting | $1,047 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,489 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,075 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,179 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,334 |
| Insurance | $16,809 |
| All other expenses | $44,618 |
| Total functional expenses | $541,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,884 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $174,338 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,500,000 |
| Total assets | $9,845,222 |
| Accounts payable and accrued expenses | $0 |
| 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 | $349,904 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $349,904 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $9,495,318 |
| Total liabilities and net assets/fund balances | $9,845,222 |
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| Organization Name | Assets | Revenue |
|---|---|---|
West Oregon Electric Cooperative Inc Vernonia, OR | $37,052,539 | $12,428,544 |
Norval Electric Cooperative Inc Glasgow, MT | $29,266,137 | $7,862,591 |
Pine Meadow Mutual Water Company South Jordan, UT | $4,406,789 | $974,166 |
Utah Lake Water Users Association Inc Salt Lake City, UT | $13,896,223 | $719,672 |
Oquirrh Mountain Water Company North Salt Lake, UT | $10,266,390 | $445,867 |
Rochester Water Association Rochester, WA | $1,363,067 | $644,458 |
Twin Lakes Canal Co Weston, ID | $9,845,222 | $667,778 |
Richmond Irrigation & Power Company Richmond, UT | $5,381,853 | $298,527 |
Mountain View Irrigation Inc Ogden, UT | $3,700,524 | $1,322,470 |
Barlow Water District Tygh Valley, OR | $2,492,884 | $420,965 |
Mapleton Irrigation Company Springville, UT | $2,602,435 | $813,808 |
Scappoose Drainage Improvement Co Scappoose, OR | $1,353,460 | $391,524 |