Spanaway Water Company
- Assets
- $42.4m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 22
- Location
- Spanaway, WA
- Founding
- 06/1955
- Data as of
- 09/2022
- EIN
- 91-6055017
Organization Overview
Spanaway Water Company is located in Spanaway, WA. The organization was established in 1955. 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 09/2022, Spanaway Water Company employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spanaway Water 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 09/2022, Spanaway Water Company generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.0m during the year ending 09/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MUTUAL WATER COMPANY FOR 10,652 CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER DISTRIBUTION TO 10,652 CUSTOMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Wells General Mana | 40 | $157,617 | |
Buck Gay Field And Op | 40 | $125,068 | |
Dwayne H Farmer Sales Manage | 40 | $124,053 | |
Ronda Farmer Office Manag | 40 | $119,773 | |
Amy Hardiman Accountant | 40 | $119,387 | |
Detlef Thibodeaux President | Officer | 1 | $4,200 |
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 | $5,733,871 |
| Investment income | $25,054 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $94,579 |
| Net Gain/Loss on Asset Sales | $1,059 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,947,458 |
| 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. | $20,700 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,824,707 |
| Pension plan accruals and contributions | $183,563 |
| Other employee benefits | $196,444 |
| Payroll taxes | $166,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,062 |
| Fees for services: Accounting | $85,156 |
| 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 | $308,585 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,194,606 |
| Insurance | $74,915 |
| All other expenses | $110,541 |
| Total functional expenses | $4,999,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,529,756 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,280,016 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,397,458 |
| Prepaid expenses and deferred charges | $77,672 |
| Net Land, buildings, and equipment | $31,125,591 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,926 |
| Total assets | $42,424,419 |
| Accounts payable and accrued expenses | $1,272,710 |
| Grants payable | $0 |
| Deferred revenue | $152,934 |
| 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 | $0 |
| Other liabilities | $10,350 |
| Total liabilities | $1,435,994 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $11,633,587 |
| Paid-in or capital surplus, or land, building, or equipment fund | $6,929,686 |
| Retained earnings, endowment, accumulated income, or other funds | $22,425,152 |
| Total liabilities and net assets/fund balances | $42,424,419 |
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