Gateway Regional Water Company Inc
- Assets
- $16.0m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Sandoval, IL
- Founding
- 09/2000
- Data as of
- 09/2021
- EIN
- 37-1353642
Organization Overview
Gateway Regional Water Company Inc is located in Sandoval, IL. The organization was established in 2000. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 09/2021, Gateway Regional Water Company Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gateway Regional Water Company 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 09/2021, Gateway Regional Water Company Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $2.2m during the year ending 09/2021. While expenses have increased by 0.6% per year over the past 6 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 DELIVERY FOR LOCAL MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BUILD AND OPERATE A WATER TREATMENT PLANT AND DISTRIBUTION SYSTEM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelby Cox Secretary | Officer | 32 | $44,516 |
William A Cash Treasurer | Officer | 6 | $12,150 |
Keith Ritter President | OfficerTrustee | 4 | $0 |
Aimee Keller Secretary | Officer | 30 | $0 |
Adam Mcknight Director | Trustee | 1 | $0 |
Steve Lindsey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $86,239 |
| 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 | $86,239 |
| Total Program Service Revenue | $1,855,298 |
| Investment income | $4,634 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,058 |
| Net Gain/Loss on Asset Sales | $2,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,950,229 |
| 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. | $61,662 |
| Compensation of current officers, directors, key employees. | $61,662 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $380,608 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $33,688 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,300 |
| Fees for services: Accounting | $6,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10 |
| Advertising and promotion | $0 |
| Office expenses | $7,560 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $276 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $405,018 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $565,966 |
| Insurance | $59,752 |
| All other expenses | $482,169 |
| Total functional expenses | $2,174,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $293,112 |
| Savings and temporary cash investments | $805,420 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,898,098 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,996,630 |
| Accounts payable and accrued expenses | $42 |
| 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 | $32,552 |
| Unsecured mortgages and notes payable | $9,996,564 |
| Other liabilities | $0 |
| Total liabilities | $10,029,158 |
| Net assets without donor restrictions | -$385,717 |
| Net assets with donor restrictions | $6,353,189 |
| 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 | $15,996,630 |
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West Laurel Water Association London, KY | $7,194,602 | $2,712,671 |
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East Washington Rural Water Corporation Salem, IN | $8,682,165 | $2,067,684 |
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Kirksville Water Association Richmond, KY | $4,878,304 | $2,383,613 |
Illinois Life & Health Insurance Council Springfield, IL | $1,068,596 | $787,527 |