Jennings Water Inc
- Assets
- $14.8m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 7
- Location
- North Vernon, IN
- Founding
- 08/1979
- Data as of
- 12/2022
- EIN
- 35-1404776
Organization Overview
Jennings Water Inc is located in North Vernon, IN. The organization was established in 1979. 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 12/2022, Jennings Water Inc employed 7 individuals. This organization is the central organization for a national or regional group of organizations. Jennings Water 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 12/2022, Jennings Water Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 1.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTE WATER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION DISTRIBUTED APPROXIMATELY 332,260,240 GALLONS OF WATER TO APPROXIMATELY 3,281 CUSTOMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Beesley President | OfficerTrustee | 1 | $5,650 |
Clyde Campbell Secretary | OfficerTrustee | 1 | $4,850 |
Phillip Daeger Treasurer | OfficerTrustee | 1 | $4,850 |
Susie Hatton Vice Pres. | OfficerTrustee | 1 | $4,350 |
Melvin Biehle Director | Trustee | 1 | $3,850 |
Ron Bloemer Director | Trustee | 1 | $3,850 |
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 | $1,952,946 |
| Investment income | $1,792 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,800 |
| 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 | $1,969,098 |
| 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. | $38,750 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $361,557 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $142,831 |
| Payroll taxes | $31,214 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,870 |
| Fees for services: Accounting | $14,305 |
| 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 | $0 |
| Travel | $25,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $255,059 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $319,500 |
| Insurance | $0 |
| All other expenses | $241,642 |
| Total functional expenses | $2,009,763 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $454,419 |
| Savings and temporary cash investments | $846,704 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $128,238 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $75,293 |
| Prepaid expenses and deferred charges | $16,998 |
| Net Land, buildings, and equipment | $13,316,459 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,838,111 |
| Accounts payable and accrued expenses | $69,323 |
| 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 | $5,709,613 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $82,916 |
| Total liabilities | $5,861,852 |
| 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 | $7,854,783 |
| Retained earnings, endowment, accumulated income, or other funds | $1,121,476 |
| Total liabilities and net assets/fund balances | $14,838,111 |