North Shelby Water Co
- Assets
- $23.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 16
- Location
- Bagdad, KY
- Founding
- 07/1973
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, North Shelby Water Co generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
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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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 | $3,700 |
Howard Young Commissioner | Trustee | 1 | $3,600 |
Herbert Mccoun Commissioner | Trustee | 1 | $3,600 |
Jim Smith Commissioner | Trustee | 1 | $3,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monarch Engineering Inc Engineering Services | 12/30/23 | $102,517 |
Caldwell Tanks Inc Construction Services | 12/30/23 | $1,258,304 |
United Pipeline Inc Construction Services | 12/30/23 | $144,580 |
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 | $434,089 |
| Investment income | $117,575 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,373 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,233,353 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,808,390 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $39,300 |
| Other salaries and wages | $490,866 |
| Pension plan accruals and contributions | $129,867 |
| Other employee benefits | $136,164 |
| Payroll taxes | $49,017 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,820 |
| Fees for services: Accounting | $32,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,946 |
| Advertising and promotion | $1,264 |
| Office expenses | $91,764 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,583 |
| Travel | $70,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $239,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $754,312 |
| Insurance | $87,845 |
| All other expenses | $6,954 |
| Total functional expenses | $2,457,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $3,092,279 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $371,617 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $601,852 |
| Prepaid expenses and deferred charges | $53,172 |
| Net Land, buildings, and equipment | $18,592,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $571,096 |
| Total assets | $23,283,406 |
| Accounts payable and accrued expenses | $321,746 |
| 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 | $7,731,978 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,498,556 |
| Total liabilities | $10,552,280 |
| 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 | $12,313,713 |
| Retained earnings, endowment, accumulated income, or other funds | $417,413 |
| Total liabilities and net assets/fund balances | $23,283,406 |