Sioux Rural Water System Inc
- Assets
- $16.7m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Watertown, SD
- Founding
- 09/1988
- Data as of
- 12/2021
- EIN
- 46-0319686
Organization Overview
Sioux Rural Water System Inc is located in Watertown, SD. 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 12/2021, Sioux Rural Water System Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sioux Rural Water System 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, Sioux Rural Water System Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 1.8% 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
PROVIDE A SUFFICIENT AMOUNT OF QUALITY WATER TO MEMBERS AND TOWNS IN HAMLIN, CODINGTON, DEUEL AND CLARK COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER FOR FARMS AND SMALL TOWNS IN FOUR COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heath Thompson Manager | 40 | $92,085 | |
Darwin Mack President | Officer | 0.5 | $7,398 |
Jim Thyen Director | Trustee | 0.5 | $5,822 |
Keith Smith Director | Trustee | 0.5 | $3,490 |
Betsy Olseon Director | Trustee | 0.5 | $3,233 |
Kent Roe Vice President | Officer | 0.5 | $3,226 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $301,706 |
| 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 | $301,706 |
| Total Program Service Revenue | $2,514,904 |
| Investment income | $2,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,259 |
| Net Gain/Loss on Asset Sales | -$849 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,897,271 |
| 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. | $125,209 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $98,933 |
| Payroll taxes | $26,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,646 |
| Advertising and promotion | $0 |
| Office expenses | $29,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,810 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $153,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $627,563 |
| Insurance | $33,384 |
| All other expenses | $46,402 |
| Total functional expenses | $1,882,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,040,586 |
| Savings and temporary cash investments | $547,550 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $89,513 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $192,051 |
| Prepaid expenses and deferred charges | $5,912 |
| Net Land, buildings, and equipment | $14,565,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $251,057 |
| Total assets | $16,692,563 |
| Accounts payable and accrued expenses | $503,838 |
| 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 | $6,470,345 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,974,183 |
| Net assets without donor restrictions | $9,667,303 |
| Net assets with donor restrictions | $51,077 |
| 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 | $16,692,563 |
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