Jennings Water Inc
- Assets
- $15.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 6
- Location
- North Vernon, IN
- Founding
- 08/1979
- Data as of
- 12/2021
- 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 12/2021, Jennings Water Inc employed 6 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 12/2021, Jennings Water Inc generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. 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
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION DISTRIBUTED APPROXIMATELY 337,376,700 GALLONS OF WATER TO APPROXIMATELY 3,232 CUSTOMERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Beesley President | OfficerTrustee | 1 | $6,075 |
Phillip Daeger Treasurer | OfficerTrustee | 1 | $5,075 |
Clyde Campbell Secretary | OfficerTrustee | 1 | $4,650 |
Susie Hatton Vice Pres. | OfficerTrustee | 1 | $4,575 |
Tom Flora Director | Trustee | 1 | $4,050 |
Melvin Biehle Director | Trustee | 1 | $4,050 |
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 | $1,924,480 |
| Investment income | $2,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,625 |
| Net Gain/Loss on Asset Sales | -$21,426 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,921,322 |
| 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. | $40,210 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,314 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $128,032 |
| Payroll taxes | $26,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,263 |
| Fees for services: Accounting | $14,318 |
| 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 | $19,643 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $263,169 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $314,560 |
| Insurance | $0 |
| All other expenses | $205,111 |
| Total functional expenses | $1,866,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $441,309 |
| Savings and temporary cash investments | $834,068 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $131,896 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $55,539 |
| Prepaid expenses and deferred charges | $24,381 |
| Net Land, buildings, and equipment | $13,571,535 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,058,728 |
| Accounts payable and accrued expenses | $64,541 |
| 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 | $5,892,712 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $84,551 |
| Total liabilities | $6,041,804 |
| 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 | $7,805,462 |
| Retained earnings, endowment, accumulated income, or other funds | $1,211,462 |
| Total liabilities and net assets/fund balances | $15,058,728 |
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