Ames Lake Water Association Inc
- Assets
- $6.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Redmond, WA
- Founding
- 04/1971
- Data as of
- 04/2022
- EIN
- 23-7065656
Organization Overview
Ames Lake Water Association Inc is located in Redmond, WA. The organization was established in 1971. 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 04/2022, Ames Lake Water Association Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ames Lake Water Association Inc 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 04/2022, Ames Lake Water Association Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.0m during the year ending 04/2022. While expenses have increased by 1.8% 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
AMES LAKE WATER ASSOCIATION IS A CONSUMER OWNED COOPERATIVE WHICH PROVIDES WATER SERVICES TO OVER 1,100 MEMBERS IN A RURAL SERVICE AREA SURROUNDING AMES LAKE, WA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION OWNS AND OPERATES SIX GROUND WATER WELLS, SIX STORAGE TANKS AND OVER 38 MILES OF WATER SUPPLY PIPE; THE ASSOCIATION PROVIDED APPROXIMATELY 90 MILLION GALLONS OF POTABLE WATER TO OVER 1,100 MEMBERS DURING THE PAST FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Reier Water System | 40 | $117,001 | |
Sherri Zucker Treasurer | OfficerTrustee | 2 | $1,352 |
David Hoffmann President | OfficerTrustee | 4 | $1,352 |
Mark Freeman Vice Preside | OfficerTrustee | 2 | $1,352 |
Jeff Villnow Secretary | OfficerTrustee | 2 | $1,352 |
Merlyn Blue Director | Trustee | 2 | $1,352 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gray & Osborne Inc Engineering | 4/29/22 | $146,327 |
Systems Interface Inc Programming | 4/29/22 | $205,433 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,000 |
| 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 | $8,000 |
| Total Program Service Revenue | $1,217,053 |
| Investment income | $1,373 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $131,571 |
| 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 | $1,357,997 |
| 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. | $9,360 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $309,314 |
| Pension plan accruals and contributions | $12,497 |
| Other employee benefits | $42,917 |
| Payroll taxes | $28,953 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,116 |
| Fees for services: Accounting | $20,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,225 |
| Advertising and promotion | $0 |
| Office expenses | $20,795 |
| Information technology | $45,071 |
| Royalties | $0 |
| Occupancy | $103,426 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,764 |
| Interest | $5,501 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $236,772 |
| Insurance | $16,731 |
| All other expenses | $3,203 |
| Total functional expenses | $1,022,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $422,595 |
| Savings and temporary cash investments | $670,758 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $106,882 |
| 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 | $13,789 |
| Net Land, buildings, and equipment | $3,507,458 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,664,983 |
| Total assets | $6,386,465 |
| Accounts payable and accrued expenses | $44,659 |
| Grants payable | $0 |
| Deferred revenue | $207,109 |
| 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 | $1,765,823 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,017,591 |
| Net assets without donor restrictions | $4,368,874 |
| 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 | $6,386,465 |
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