Nice Mutual Water Company
- Assets
- $5.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Nice, CA
- Founding
- 10/1962
- Data as of
- 12/2022
- EIN
- 94-1425016
Organization Overview
Nice Mutual Water Company is located in Nice, CA. The organization was established in 1962. 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 12/2022, Nice Mutual Water Company employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nice Mutual 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 12/2022, Nice Mutual Water Company generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 6.0% per year over the past 6 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
AS A MUTUAL BENEFIT CORPORATION, THE ENTITY PROVIDES WATER SERVICE TO THE RESIDENTS OF NICE, CA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CLEAN DRINKING WATER THROUGHOUT THE YEAR TO NICE, CA, A COMMUNITY OF APPROXIMATELY 2,700 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Fultz General Manager | Officer | 40 | $91,462 |
Mary E Jaimes Director | Trustee | 1 | $2,016 |
Irenia Quitiquit Director | Trustee | 1 | $2,016 |
Sheri L Enus Secretary | OfficerTrustee | 1 | $2,016 |
Donald P Gatton President | OfficerTrustee | 1 | $2,016 |
Herman Knevelbaard Vice-President | OfficerTrustee | 1 | $2,016 |
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 | $1,053,222 |
| Investment income | $892 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,429 |
| 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 | $1,130,500 |
| 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. | $128,162 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $37,990 |
| Other salaries and wages | $307,091 |
| Pension plan accruals and contributions | $9,160 |
| Other employee benefits | $55,032 |
| Payroll taxes | $34,113 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,119 |
| Advertising and promotion | $0 |
| Office expenses | $27,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,895 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,727 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $200,349 |
| Insurance | $29,357 |
| All other expenses | $52,318 |
| Total functional expenses | $1,237,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,057 |
| Savings and temporary cash investments | $744,145 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,394 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,651 |
| Inventories for sale or use | $30,989 |
| Prepaid expenses and deferred charges | $71,276 |
| Net Land, buildings, and equipment | $4,052,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,289,054 |
| Accounts payable and accrued expenses | $85,025 |
| 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 | $677,212 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,544 |
| Total liabilities | $793,781 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $30,950 |
| Paid-in or capital surplus, or land, building, or equipment fund | $506,045 |
| Retained earnings, endowment, accumulated income, or other funds | $3,958,278 |
| Total liabilities and net assets/fund balances | $5,289,054 |