Washington Township Water Corporation
- Assets
- $4.6m
- Revenue
- $952.9k
- Investments
- $0.0
- Employees
- 4
- Location
- New Washington, IN
- Founding
- 03/1968
- Data as of
- 12/2023
- EIN
- 35-6037692
Organization Overview
Washington Township Water Corporation is located in New Washington, IN. The organization was established in 1968. 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 12/2023, Washington Township Water Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Township Water Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Washington Township Water Corporation generated $952.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $597.3k during the year ending 12/2023. While expenses have increased by 7.1% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTE WATER TO RESIDENTS IN SURROUNDING AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SOLD WATER TO APPROXIMATELY 1,750 CUSTOMERS
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 |
|---|---|---|---|
Larry Harbin Sce/treas. | Officer | 1 | $600 |
Steve Fouts Director | Trustee | $0 | |
Rick Wheeler Director | Trustee | $0 | |
Tim Cochran President | Officer | $0 | |
Jeff Hall Vice Preside | Officer | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Caldwell Tanks Inc New Tank | 12/30/22 | $1,063,435 |
Van Hoy & Sons Contracting New Tank | 12/30/22 | $128,588 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $250,000 |
| 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 | $250,000 |
| Total Program Service Revenue | $653,736 |
| Investment income | $1,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $47,531 |
| Net Gain/Loss on Asset Sales | -$126 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $952,874 |
| 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. | $2,520 |
| Compensation of current officers, directors, key employees. | $2,520 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,893 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,000 |
| Payroll taxes | $13,278 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,418 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,853 |
| Advertising and promotion | $0 |
| Office expenses | $15,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,646 |
| Travel | $22,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,721 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $112,790 |
| Insurance | $12,416 |
| All other expenses | $29,274 |
| Total functional expenses | $597,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,432 |
| Savings and temporary cash investments | $319,091 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,048 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,804 |
| Prepaid expenses and deferred charges | $4,974 |
| Net Land, buildings, and equipment | $3,662,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $456,037 |
| Total assets | $4,586,103 |
| Accounts payable and accrued expenses | $117,945 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $470,315 |
| Total liabilities | $588,260 |
| 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 | $2,671,287 |
| Retained earnings, endowment, accumulated income, or other funds | $1,326,556 |
| Total liabilities and net assets/fund balances | $4,586,103 |