Spanaway Water Company
- Assets
- $47.3m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Spanaway, WA
- Founding
- 06/1955
- Data as of
- 09/2023
- 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 09/2023, Spanaway Water Company employed 26 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 09/2023, Spanaway Water Company generated $6.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $6.6m during the year ending 09/2023. While expenses have increased by 6.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MUTUAL WATER COMPANY FOR 10,738 CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER DISTRIBUTION TO 10,738 CUSTOMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Wells General Mana | Officer | 40 | $194,037 |
Dwayne H Farmer Sales Manage | Officer | 40 | $155,997 |
Ronda Farmer Office Manag | 40 | $149,251 | |
Kyle J Bracken Field Superi | 40 | $118,729 | |
Amy Hardiman Accountant | 40 | $111,589 | |
Charles H Barthel III Field Superi | 40 | $107,189 |
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 | $6,549,038 |
| Investment income | $108,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $74,676 |
| Net Gain/Loss on Asset Sales | -$137,049 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,654,007 |
| 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. | $372,934 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $111,589 |
| Other salaries and wages | $1,501,613 |
| Pension plan accruals and contributions | $199,534 |
| Other employee benefits | $207,345 |
| Payroll taxes | $193,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,409 |
| Fees for services: Accounting | $59,099 |
| 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 | $426,815 |
| 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 | $1,319,767 |
| Insurance | $86,100 |
| All other expenses | $431,427 |
| Total functional expenses | $6,613,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,000,848 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,636,925 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $585,400 |
| Prepaid expenses and deferred charges | $92,500 |
| Net Land, buildings, and equipment | $31,721,132 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,713,253 |
| Other assets | $4,593,792 |
| Total assets | $47,343,850 |
| Accounts payable and accrued expenses | $967,694 |
| Grants payable | $0 |
| Deferred revenue | $178,523 |
| 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 | $4,459,451 |
| Total liabilities | $5,605,668 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,208,720 |
| Paid-in or capital surplus, or land, building, or equipment fund | $6,847,694 |
| Retained earnings, endowment, accumulated income, or other funds | $22,681,768 |
| Total liabilities and net assets/fund balances | $47,343,850 |