Gibson Water Inc
- Assets
- $20.7m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 5
- Location
- Haubstadt, IN
- Founding
- 05/1980
- Data as of
- 12/2022
- EIN
- 35-1412705
Organization Overview
Gibson Water Inc is located in Haubstadt, IN. The organization was established in 1980. 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, Gibson Water Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gibson 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, Gibson Water Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. While expenses have increased by 7.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WATER TO ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER TO ITS MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Michel President | Officer | 1 | $5,200 |
James Pohl Treasurer | Officer | 1 | $4,000 |
Stephen Meny Vice-President | Officer | 1 | $4,000 |
Kreig Christy Assistant Sec/treas | Officer | 1 | $4,800 |
Patricia Campbell Secretary | Officer | 1 | $5,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bose Mckinney & Evans Llp Legal Services | 12/30/21 | $354,369 |
Baker Tilly Municipal Advisors Llc Project Plannin | 12/30/21 | $112,000 |
Midwestern Engineers Inc Engineering | 12/30/21 | $145,010 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,851 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,851 |
| Total Program Service Revenue | $2,843,662 |
| Investment income | $2,542 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,893,356 |
| 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. | $23,600 |
| Compensation of current officers, directors, key employees. | $23,600 |
| Compensation to disqualified persons | $1,200 |
| Other salaries and wages | $316,046 |
| Pension plan accruals and contributions | $16,441 |
| Other employee benefits | $168,545 |
| Payroll taxes | $25,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,406 |
| Fees for services: Accounting | $23,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,647 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,340 |
| Travel | $17,603 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $85,044 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $398,617 |
| Insurance | $36,350 |
| All other expenses | $9,821 |
| Total functional expenses | $2,959,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,981 |
| Savings and temporary cash investments | $1,095,707 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $273,841 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $59,162 |
| Prepaid expenses and deferred charges | $9,625 |
| Net Land, buildings, and equipment | $15,862,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,320,160 |
| Total assets | $20,695,710 |
| Accounts payable and accrued expenses | $434,198 |
| 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 | $4,753,546 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,187,744 |
| Net assets without donor restrictions | $15,507,966 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $20,695,710 |