Bbp Water Corporation
- Assets
- $16.7m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 18
- Location
- Spencer, IN
- Founding
- 04/1988
- Data as of
- 12/2022
- EIN
- 35-1590713
Organization Overview
Bbp Water Corporation is located in Spencer, IN. The organization was established in 1988. 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, Bbp Water Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bbp Water Corporation 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, Bbp Water Corporation 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 4.3% each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 4.7% 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 DISTRIBUTE WATER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SOLD APPROXIMATELY 241,637,000 GALLONS OF WATER TO AN AVERAGE OF 4,000 CUSTOMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Hamlin Director | Trustee | 2 | $0 |
Reggie Payton Director | Trustee | 2 | $0 |
Reed Hodges Vice President | OfficerTrustee | 3 | $0 |
Ronda Stogsdill Director | Trustee | 2 | $0 |
Judy Tucker President | OfficerTrustee | 2 | $0 |
Debbie Keith Sec/tres | OfficerTrustee | 3 | $0 |
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 | $2,885,091 |
| Investment income | $17,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,603 |
| 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 | $2,912,365 |
| 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. | $24,520 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $738,504 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,185 |
| Payroll taxes | $11,456 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,740 |
| Fees for services: Accounting | $10,207 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,293 |
| Office expenses | $57,495 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $37,211 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,760 |
| Interest | $196,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $528,678 |
| Insurance | $60,682 |
| All other expenses | $0 |
| Total functional expenses | $2,608,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $549 |
| Savings and temporary cash investments | $3,265,185 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $301,387 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $264,080 |
| Prepaid expenses and deferred charges | $67,690 |
| Net Land, buildings, and equipment | $12,764,530 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,439 |
| Total assets | $16,742,860 |
| Accounts payable and accrued expenses | $163,642 |
| 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 | $5,751,191 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,914,833 |
| 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 | $3,582,124 |
| Retained earnings, endowment, accumulated income, or other funds | $7,245,903 |
| Total liabilities and net assets/fund balances | $16,742,860 |