Summit Water Distribution Company
- Assets
- $15.4m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Park City, UT
- Founding
- 03/1981
- Data as of
- 12/2021
- EIN
- 94-2682660
Organization Overview
Summit Water Distribution Company is located in Park City, UT. The organization was established in 1981. 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 12/2021, Summit Water Distribution Company employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Water Distribution 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 12/2021, Summit Water Distribution Company generated $6.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $7.7m during the year ending 12/2021. While expenses have increased by 9.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE IRRIGATION AND CULINARY WATER TO THE MEMBERS OF THE WATER DISTRIBUTION SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF WATER TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Cheney Manager | 40 | $131,184 | |
Marian Blaser Treasurer | 40 | $123,632 | |
Michael Folkman Foremn | 40 | $112,859 | |
Brody Saunders President | OfficerTrustee | 40 | $100,000 |
Laramie Simmons Supervisor | 40 | $88,737 | |
Clayton Riding System Manage | 40 | $75,941 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flitton And Associates Legal Services | 12/30/21 | $0 |
J Phillip Cook And Associates Legal | 12/30/21 | $0 |
Mitchell Barlow & Mansfield Legal | 12/30/21 | $0 |
Skm Engineering Llc Consulting | 12/30/21 | $0 |
Hatch Law Group Legal Service | 12/30/21 | $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 | $6,664,269 |
| Investment income | $32,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,613 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,703,957 |
| 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. | $220,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $556,734 |
| Pension plan accruals and contributions | $116,673 |
| Other employee benefits | $231,832 |
| Payroll taxes | $70,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $912,962 |
| Fees for services: Accounting | $9,454 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $281,811 |
| Advertising and promotion | $0 |
| Office expenses | $125,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $16,781 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $586,061 |
| Insurance | $74,037 |
| All other expenses | $228,760 |
| Total functional expenses | $7,691,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,347,984 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,694,425 |
| 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 | $145,558 |
| Net Land, buildings, and equipment | $5,920,260 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,240,000 |
| Other assets | $26,000 |
| Total assets | $15,374,227 |
| Accounts payable and accrued expenses | $75,093 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $55,160 |
| 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 | $265,321 |
| Total liabilities | $395,574 |
| Net assets without donor restrictions | $14,978,653 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $15,374,227 |
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