Sherwood Mutual Telephone Association Inc
- Assets
- $15.1m
- Revenue
- $3.0m
- Investments
- $4.0m
- Employees
- 13
- Location
- Sherwood, OH
- Founding
- 07/1941
- Data as of
- 12/2021
- EIN
- 34-4354362
Organization Overview
Sherwood Mutual Telephone Association Inc is located in Sherwood, OH. The organization was established in 1941. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Sherwood Mutual Telephone Association Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sherwood Mutual Telephone 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 12/2021, Sherwood Mutual Telephone Association Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 6.5% per year over the past 6 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 TELEPHONE AND OTHER COMMUNICATIONS SERVICE ASSOCIATION MEMBERS IN SHERWOOD, OHIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE TELEPHONE AND OTHER COMMUNICATIONS SERVICE ASSOCIATION MEMBERS IN SHERWOOD, OHIO.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Rostorfer General Mana | Officer | 40 | $92,867 |
John Wirth President | OfficerTrustee | 2 | $30,386 |
William Wendling Vice Preside | OfficerTrustee | 2 | $29,786 |
James Hohenberger Secretary/tr | OfficerTrustee | 2 | $28,386 |
James Timbrook Director | Trustee | 2 | $27,386 |
Thomas Turnbull Director | Trustee | 2 | $27,386 |
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 | $2,066,946 |
| Investment income | $95,372 |
| 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 | $2,980,166 |
| 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 | $445,024 |
| Pension plan accruals and contributions | $27,302 |
| Other employee benefits | $0 |
| Payroll taxes | $35,059 |
| Fees for services: Management | $188,432 |
| Fees for services: Legal | $3,142 |
| Fees for services: Accounting | $46,369 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,054 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $13,640 |
| Royalties | $0 |
| Occupancy | $27,634 |
| Travel | $279 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $504,647 |
| Insurance | $19,161 |
| All other expenses | -$89,178 |
| Total functional expenses | $1,779,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,363 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,506,952 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $329,964 |
| Prepaid expenses and deferred charges | $17,403 |
| Net Land, buildings, and equipment | $4,041,028 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,975,737 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $15,105,947 |
| Accounts payable and accrued expenses | $257,624 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $3,907,979 |
| Other liabilities | $113,820 |
| Total liabilities | $4,279,423 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $10,225 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $10,816,299 |
| Total liabilities and net assets/fund balances | $15,105,947 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Keystone Initiative For Network Based Education & Research Lititz, PA | $86,518,752 | $6,204,433 |
Daviess-Martin County Rural Telephone Corporation Montgomery, IN | $38,835,355 | $7,744,077 |
Wabash Mutual Telephone Co Celina, OH | $16,675,060 | $7,819,409 |
Bascom Mutual Telephone Co Bascom, OH | $15,916,030 | $4,629,697 |
Spruce Knob Seneca Rocks Telephone Inc Riverton, WV | $9,084,789 | $3,420,037 |
Cable Co-Op Oberlin, OH | $1,941,667 | $2,843,130 |
Indiana Telephone Relay Access Corp For The Hearing & Speech Impaired Indianapolis, IN | $10,657,084 | $3,011,868 |
Sherwood Mutual Telephone Association Inc Sherwood, OH | $15,105,947 | $2,980,166 |
Arthur Mutual Telephone Company Defiance, OH | $7,781,591 | $1,998,946 |
Ottoville Mutual Telephone Co Ottoville, OH | $9,758,919 | $1,798,119 |
Farmers Mutual Telephone Company Okolona, OH | $3,438,838 | $963,125 |
I-Man Inc Angola, IN | $0 | $297 |