Ireland Utilities Inc
- Assets
- $5.2m
- Revenue
- $648.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Ireland, IN
- Founding
- 03/1973
- Data as of
- 12/2021
- EIN
- 35-1136371
Organization Overview
Ireland Utilities Inc is located in Ireland, IN. 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 12/2021, Ireland Utilities Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ireland Utilities 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, Ireland Utilities Inc generated $648.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $471.5k during the year ending 12/2021. While expenses have increased by 13.3% 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
TO PROVIDE DRINKABLE WATER TO THE ORGANIZATION MEMBERSHIP TO PROVIDE FIRE PROTECTION FOR THE SURROUNDING AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Sander Highest Compensated Employee | 25 | $37,706 | |
Cynthia Wehr Key Employee | Officer | 40 | $29,113 |
Andy Hulsman Director | Trustee | 1 | $2,800 |
Ken Schnaus Director | Trustee | 1 | $1,500 |
Stan Schnaus Director | Trustee | 1 | $1,500 |
Gene Hopf Director | Trustee | 1 | $1,350 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $734 |
| 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 | $734 |
| Total Program Service Revenue | $0 |
| Investment income | $543 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,500 |
| 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 | $635,723 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $648,348 |
| 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. | $80,069 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,684 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $650 |
| Advertising and promotion | $0 |
| Office expenses | $2,026 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,980 |
| Travel | $9,271 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $290 |
| Interest | $31,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,417 |
| Insurance | $8,695 |
| All other expenses | $112,104 |
| Total functional expenses | $471,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $449,647 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $72,477 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,669,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,191,860 |
| Accounts payable and accrued expenses | $6,762 |
| 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 | $1,148,105 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,154,867 |
| 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 | $1,998,293 |
| Retained earnings, endowment, accumulated income, or other funds | $2,038,700 |
| Total liabilities and net assets/fund balances | $5,191,860 |
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