Seven Lakes Reservoir Co
- Assets
- $2.1m
- Revenue
- $175.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Greeley, CO
- Founding
- 04/1941
- Data as of
- 10/2022
- EIN
- 84-0317150
Organization Overview
Seven Lakes Reservoir Co is located in Greeley, CO. The organization was established in 1941. 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 10/2022, Seven Lakes Reservoir Co employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seven Lakes Reservoir 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 10/2022, Seven Lakes Reservoir Co generated $175.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $162.3k during the year ending 10/2022. 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
PROVIDING IRRIGATION WATER FOR AGRICULTURAL USES TO SHAREHOLDERS IN THE LOVELAND AND GREELEY AREA OF NORTHERN COLORADO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF MUTAL IRRAGATION COMPANY FOR THE BENEFIT OF ITS MEMEBERS
OPERATION OF MUTAL IRRAGATION COMPANY FOR THE BENEFIT OF ITS MEMEBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Bernhardt President | OfficerTrustee | 1 | $0 |
Randy Schwalm Vice Preside | OfficerTrustee | 1 | $0 |
Leah Hubbard Director | Trustee | 1 | $0 |
Megan Kramer Director | Trustee | 1 | $0 |
Mike Wiedeman Director | Trustee | 1 | $0 |
Alex Tennant 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 | $174,688 |
| Investment income | $618 |
| 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 | $175,406 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,197 |
| Fees for services: Accounting | $4,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,603 |
| Advertising and promotion | $0 |
| Office expenses | $253 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $32,437 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,342 |
| Insurance | $9,667 |
| All other expenses | $1,387 |
| Total functional expenses | $162,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,668 |
| 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 | $1,721,804 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,990 |
| Total assets | $2,096,462 |
| Accounts payable and accrued expenses | $44,217 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,194,749 |
| Other liabilities | $0 |
| Total liabilities | $1,238,966 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $40,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $817,496 |
| Total liabilities and net assets/fund balances | $2,096,462 |
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