North Shelby Water Co
- Assets
- $23.4m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 16
- Location
- Bagdad, KY
- Founding
- 07/1973
- Data as of
- 12/2021
- EIN
- 23-7115869
Organization Overview
North Shelby Water Co is located in Bagdad, KY. The organization was established in 1973. 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, North Shelby Water Co employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Shelby Water Co 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, North Shelby Water Co generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 5.5% 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 MEMBERS WITH DEPENDABLE, CONVENIENT, AND SAFE WATER AT A REASONABLE RATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES WATER TO APPROXIMATELY 5,000 CUSTOMERS/MEMBERS IN THE KENTUCKY COUNTIES OF FRANKLIN, HENRY, OLDHAM AND SHELBY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Franklin President | OfficerTrustee | 1 | $12,100 |
John Mcginnis III Secretary/treas | OfficerTrustee | 1 | $6,000 |
Kevin Armstrong Commissioner | Trustee | 1 | $3,800 |
James Anglin Commissioner | Trustee | 1 | $3,800 |
Jim Smith Commissioner | Trustee | 1 | $3,800 |
Herbert Mccoun Commissioner | Trustee | 1 | $3,600 |
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 | $512,755 |
| Investment income | $13,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,445 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,149,720 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,711,885 |
| 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. | $36,400 |
| Compensation of current officers, directors, key employees. | $36,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $492,876 |
| Pension plan accruals and contributions | $223,593 |
| Other employee benefits | $224,580 |
| Payroll taxes | $47,210 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,657 |
| Fees for services: Accounting | $32,285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,955 |
| Advertising and promotion | $1,131 |
| Office expenses | $67,774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,232 |
| Travel | $52,186 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $238,034 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $747,182 |
| Insurance | $63,462 |
| All other expenses | $7,114 |
| Total functional expenses | $2,591,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $4,243,299 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $354,355 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $446,240 |
| Prepaid expenses and deferred charges | $40,483 |
| Net Land, buildings, and equipment | $17,646,391 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $630,007 |
| Total assets | $23,361,275 |
| Accounts payable and accrued expenses | $312,721 |
| 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 | $8,070,675 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,631,255 |
| Total liabilities | $11,014,651 |
| Net assets without donor restrictions | $0 |
| 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 | $12,195,974 |
| Retained earnings, endowment, accumulated income, or other funds | $150,650 |
| Total liabilities and net assets/fund balances | $23,361,275 |
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