Ramsey Water Co Inc
- Assets
- $22.6m
- Revenue
- $5.5m
- Investments
- $224.9k
- Employees
- 14
- Location
- Ramsey, IN
- Founding
- 06/1965
- Data as of
- 12/2021
- EIN
- 35-1062251
Organization Overview
Ramsey Water Co Inc is located in Ramsey, IN. The organization was established in 1965. 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, Ramsey Water Co Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ramsey Water Co 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, Ramsey Water Co Inc generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 3.9% 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
WATER SUPPLIED TO MEMBERS OF WATER COMPANY
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER SUPPLIED TO MEMBERS OF WATER COMPANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Seacat General Manager | 40 | $146,915 | |
Tom Ramsey President | OfficerTrustee | 1 | $4,656 |
Karl Benz Secretary | OfficerTrustee | 1 | $4,344 |
Brian Wehneman Director | Trustee | 1 | $4,250 |
James Schilmiller Vice President | OfficerTrustee | 1 | $3,500 |
Suzanne Kaiser Director | Trustee | 1 | $3,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thieneman Construction Construction | 12/30/18 | $306,106 |
Midwestern Enginers Engineers | 12/30/18 | $263,920 |
Utility Service Co Tank Service | 12/30/18 | $201,089 |
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 | $5,317,987 |
| Investment income | $24,674 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,932 |
| Net Gain/Loss on Asset Sales | -$68,041 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,451,989 |
| 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. | $169,915 |
| Compensation of current officers, directors, key employees. | $169,915 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $658,177 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $148,431 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,646 |
| Fees for services: Accounting | $15,004 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,644 |
| Travel | $64,954 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $270,023 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $942,227 |
| Insurance | $107,024 |
| All other expenses | $95,911 |
| Total functional expenses | $4,595,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,045,665 |
| Savings and temporary cash investments | $65,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,833 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $378,828 |
| Prepaid expenses and deferred charges | $80,993 |
| Net Land, buildings, and equipment | $17,922,101 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $224,911 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $291,982 |
| Total assets | $22,600,313 |
| Accounts payable and accrued expenses | $83,744 |
| 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 | $4,461,014 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $201,800 |
| Total liabilities | $4,746,558 |
| 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 | $5,562,880 |
| Retained earnings, endowment, accumulated income, or other funds | $12,290,875 |
| Total liabilities and net assets/fund balances | $22,600,313 |
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