Ramsey Water Co Inc
- Assets
- $26.0m
- Revenue
- $6.0m
- Investments
- $145.6k
- Employees
- 18
- Location
- Ramsey, IN
- Founding
- 06/1965
- Data as of
- 12/2023
- 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 12/2023, Ramsey Water Co Inc employed 18 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 12/2023, Ramsey Water Co Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $4.9m during the year ending 12/2023. While expenses have increased by 3.8% per year over the past 8 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
2023
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 |
|---|---|---|---|
Tom Ramsey Director | Trustee | 1 | $7,287 |
James Schilmiller Director | Trustee | 1 | $6,600 |
Richert Harbeson Director | Trustee | 1 | $4,400 |
Karl Benz President | OfficerTrustee | 1 | $7,322 |
Brian Wehneman Secretary | OfficerTrustee | 1 | $5,294 |
Suzanne Kaiser Vice President | OfficerTrustee | 1 | $4,813 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Copper Ridge Contracing Inc Lanesville Phase Iii Projet | 12/30/23 | $445,989 |
Utility Service Co Tank Service | 12/30/23 | $155,042 |
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 | $5,841,249 |
| Investment income | $85,336 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,785 |
| Net Gain/Loss on Asset Sales | $5,100 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,953,470 |
| 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. | $180,844 |
| Compensation of current officers, directors, key employees. | $150,015 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $710,043 |
| Pension plan accruals and contributions | $26,404 |
| Other employee benefits | $176,506 |
| Payroll taxes | $67,984 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,467 |
| Fees for services: Accounting | $43,183 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $354,563 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,099 |
| Travel | $92,424 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $214,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $996,971 |
| Insurance | $82,705 |
| All other expenses | $63,829 |
| Total functional expenses | $4,871,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,114,241 |
| Savings and temporary cash investments | $2,793,088 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $653,605 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $487,714 |
| Prepaid expenses and deferred charges | $92,739 |
| Net Land, buildings, and equipment | $17,697,412 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $145,593 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $984,587 |
| Total assets | $25,968,979 |
| Accounts payable and accrued expenses | $104,591 |
| 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 | $4,136,872 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $230,100 |
| Total liabilities | $4,471,563 |
| 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 | $6,979,696 |
| Retained earnings, endowment, accumulated income, or other funds | $14,517,720 |
| Total liabilities and net assets/fund balances | $25,968,979 |