Eastern Heights Utilities Inc
- Assets
- $17.7m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 13
- Location
- Bloomfield, IN
- Founding
- 06/1973
- Data as of
- 12/2021
- EIN
- 35-1288482
Organization Overview
Eastern Heights Utilities Inc is located in Bloomfield, 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, Eastern Heights Utilities Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastern Heights 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, Eastern Heights Utilities Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 2.6% 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
DISTRIBUTE WATER TO MEMBERS IN THE SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SOLD APPROXIMATELY 409,954,700 GALLONS OF WATER TO OVER 7,290 CUSTOMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Pullen Sec/treasure | Officer | 1 | $3,070 |
Gary Reed Director | Trustee | 1 | $2,020 |
Dwayne Hostetter Director | Trustee | 1 | $1,910 |
Tom Mcartor President | Officer | 1 | $1,870 |
William Thacker Vice Pres | Officer | 1 | $1,870 |
Bob Bandy Director | Trustee | 1 | $1,870 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $185,754 |
| 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 | $185,754 |
| Total Program Service Revenue | $2,548,126 |
| Investment income | $7,341 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $35,298 |
| Net Gain/Loss on Asset Sales | $5,492 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,782,011 |
| 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. | $25,530 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $546,215 |
| Pension plan accruals and contributions | $46,003 |
| Other employee benefits | $386,829 |
| Payroll taxes | $49,460 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,360 |
| Fees for services: Accounting | $54,282 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,431 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $54,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $166,809 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $503,325 |
| Insurance | $60,271 |
| All other expenses | $702 |
| Total functional expenses | $2,630,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400 |
| Savings and temporary cash investments | $1,293,580 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $132,400 |
| Prepaid expenses and deferred charges | $74,350 |
| Net Land, buildings, and equipment | $16,031,019 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,084 |
| Total assets | $17,662,662 |
| Accounts payable and accrued expenses | $86,281 |
| 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 | $3,300,116 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $710,156 |
| Total liabilities | $4,096,553 |
| 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 | $13,844,548 |
| Retained earnings, endowment, accumulated income, or other funds | -$278,439 |
| Total liabilities and net assets/fund balances | $17,662,662 |
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