Gibson Water Inc
- Assets
- $18.4m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Haubstadt, IN
- Founding
- 05/1980
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Gibson Water Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $2.9m during the year ending 12/2021. While expenses have increased by 8.3% 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 WATER TO ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER TO ITS MEMBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Meny Asst Secreta | OfficerTrustee | 1 | $5,200 |
James Pohl Treasurer | OfficerTrustee | 1 | $4,400 |
Duane Michel President | OfficerTrustee | 1 | $4,400 |
Kreig Christy V. President | OfficerTrustee | 1 | $4,400 |
Patricia Campbell Secretary | OfficerTrustee | 1 | $4,400 |
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 | $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 | $5,104,707 |
| Investment income | $189 |
| 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 | $5,105,692 |
| 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. | $22,800 |
| Compensation of current officers, directors, key employees. | $22,800 |
| Compensation to disqualified persons | $800 |
| Other salaries and wages | $328,209 |
| Pension plan accruals and contributions | $16,205 |
| Other employee benefits | $136,069 |
| Payroll taxes | $25,332 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,282 |
| Fees for services: Accounting | $23,949 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,158 |
| Advertising and promotion | $0 |
| Office expenses | $21,421 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,420 |
| Travel | $13,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $36,605 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $396,656 |
| Insurance | $34,321 |
| All other expenses | $2,086 |
| Total functional expenses | $2,888,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,820 |
| Savings and temporary cash investments | $734,494 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $183,409 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $50,363 |
| Prepaid expenses and deferred charges | $24,539 |
| Net Land, buildings, and equipment | $16,145,536 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,179,090 |
| Total assets | $18,357,251 |
| Accounts payable and accrued expenses | $318,537 |
| 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 | $2,464,299 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,782,836 |
| Net assets without donor restrictions | $15,574,415 |
| 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 | $18,357,251 |
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