Craft-Turney Water Supply Corporation
- Assets
- $5.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Jacksonville, TX
- Founding
- 03/1988
- Data as of
- 12/2021
- EIN
- 23-7424818
Organization Overview
Craft-Turney Water Supply Corporation is located in Jacksonville, TX. The organization was established in 1988. 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, Craft-Turney Water Supply Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Craft-Turney Water Supply Corporation 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, Craft-Turney Water Supply Corporation 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 4.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 5.6% 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
PROVIDING WATER UTILITIES TO RURAL AREAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER UTILITIES TO RURAL AREAS IN CHEROKEE COUNTY, TEXAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Morton Sec/treasurer | OfficerTrustee | 1 | $0 |
Olen Morton President | OfficerTrustee | 1 | $0 |
John Hawkins Vice President | OfficerTrustee | 1 | $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 | $1,339,828 |
| Investment income | $11,406 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,351,234 |
| 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 | $0 |
| Other salaries and wages | $302,586 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,714 |
| Payroll taxes | $23,759 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,910 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $34,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $160,112 |
| Insurance | $30,114 |
| All other expenses | $141,644 |
| Total functional expenses | $1,311,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,268 |
| Savings and temporary cash investments | $727,067 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $143,267 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $84,727 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,707,223 |
| Investments—publicly traded securities | $156,813 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,543,131 |
| Total assets | $5,363,496 |
| Accounts payable and accrued expenses | $233,315 |
| 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 | $2,098,553 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $219,250 |
| Total liabilities | $2,551,118 |
| Net assets without donor restrictions | $2,812,378 |
| 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 | $5,363,496 |
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Mora-San Miguel Electric Cooperative Inc Mora, NM | $28,478,652 | $12,852,709 |
Ashley-Chicot Electric Cooperative Inc Hamburg, AR | $39,523,502 | $11,933,884 |
J-A-C Electric Cooperative Inc Henrietta, TX | $27,594,358 | $11,304,543 |
Sharyland Water Supply Corporation Alton, TX | $110,187,216 | $13,299,506 |
Farmers Electric Cooperative Corporation Newport, AR | $38,614,201 | $11,561,082 |