North Morgan Water Cooperative
- Assets
- $10.5m
- Revenue
- $860.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Jacksonville, IL
- Founding
- 07/2011
- Data as of
- 12/2022
- EIN
- 37-1409691
Organization Overview
North Morgan Water Cooperative is located in Jacksonville, IL. The organization was established in 2011. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Morgan Water Cooperative 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, North Morgan Water Cooperative generated $860.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $927.6k during the year ending 12/2022. While expenses have increased by 5.0% 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 FURNISH WATER SUPPLY FACILITIES FOR DRINKING AND GENERAL DOMESTIC USE TO RURAL COOPERATIVE MEMBERS. NOT OPERATED FOR PROFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FURNISH WATER SUPPLY FACILITIES FOR DRINKING AND DOMESTIC USE TO MEMBERS. NOT OPERATED FOR PROFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hopkins Board Member | Trustee | 1 | $0 |
Dan Williams Board Member | Trustee | 1 | $0 |
John Allen Board Member | Trustee | 1 | $0 |
Todd Clayton Board Member | Trustee | 1 | $0 |
Rodeny Becker President | OfficerTrustee | 1 | $0 |
Dana Mclain Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Great Plains Contractors Llc Construction | 12/30/19 | $502,976 |
Benton & Associates Inc Engineering | 12/30/19 | $213,139 |
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 | $850,744 |
| Investment income | $6,983 |
| 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 | $860,187 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $37,123 |
| Fees for services: Legal | $3,644 |
| Fees for services: Accounting | $8,987 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,934 |
| Advertising and promotion | $390 |
| Office expenses | $17,294 |
| Information technology | $1,107 |
| Royalties | $0 |
| Occupancy | $7,801 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $50 |
| Conferences, conventions, and meetings | $0 |
| Interest | $185,161 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $315,363 |
| Insurance | $32,152 |
| All other expenses | $0 |
| Total functional expenses | $927,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $482,850 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,801 |
| 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 | $295,094 |
| Net Land, buildings, and equipment | $9,639,523 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,468,268 |
| Accounts payable and accrued expenses | $372,537 |
| Grants payable | $0 |
| Deferred revenue | $2,034 |
| 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 | $6,667,579 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,042,150 |
| Net assets without donor restrictions | $3,104,527 |
| Net assets with donor restrictions | $321,591 |
| 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 | $10,468,268 |