Homestead Water Company
- Assets
- $1.5m
- Revenue
- $677.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Evergreen, CO
- Founding
- 05/2015
- Data as of
- 12/2021
- EIN
- 47-2650718
Organization Overview
Homestead Water Company is located in Evergreen, CO. The organization was established in 2015. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Homestead Water Company employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead Water Company 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, Homestead Water Company generated $677.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $470.3k during the year ending 12/2021. While expenses have increased by 10.4% 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
THE COMPANY IS A MUTUAL WATER COMPANY ESTABLISHED FOR THE PURPOSE OF PROVIDING WATER SERVICE TO AND FOR THE BENEFIT OF ITS MEMBERS IN ACCORDANCE WITH 26 USC CS 501(C)(12).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTITY PROVIDED WATER TO THE HOMEOWNERS OF THE COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman S Lewis President & Gm | OfficerTrustee | 40 | $121,190 |
Lance Hanchey Board Member | Trustee | 23 | $31,518 |
Joseph Musca Board Member | Trustee | 6 | $6,144 |
Mark Hasseman Secretary | OfficerTrustee | 1 | $0 |
Keith Sargent Treasurer | OfficerTrustee | 1 | $0 |
Robert Blackwell Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,400 |
| 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 | $33,400 |
| Total Program Service Revenue | $638,419 |
| Investment income | $922 |
| 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 | $677,881 |
| 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. | $158,852 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,255 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,682 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,406 |
| 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 | $1,010 |
| Advertising and promotion | $0 |
| Office expenses | $4,477 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,431 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,778 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,689 |
| Insurance | $17,970 |
| All other expenses | $42,540 |
| Total functional expenses | $470,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597,054 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,566 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,348 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $898,417 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $21,271 |
| Other assets | $0 |
| Total assets | $1,526,656 |
| Accounts payable and accrued expenses | $998 |
| 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 | $31,172 |
| Total liabilities | $32,170 |
| Net assets without donor restrictions | $271,860 |
| Net assets with donor restrictions | $1,222,626 |
| 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 | $1,526,656 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
York County Farmers Mutual Insurance Company York, NE | $1,040,452 | $4,898,000 |
Physicians Mutual Insurance Company Foundation Omaha, NE | $5,431,520 | $2,485,558 |
Polk & Butler Mutual Insurance Company Osceola, NE | $1,028,868 | $493,578 |
Mutual Insurance Company Of Saline And Seward Counties Crete, NE | $1,972,418 | $463,258 |
Homestead Water Company Evergreen, CO | $1,526,656 | $677,881 |
Sunrise Christian Hoops Foundation Wichita, KS | $119,159 | $370,527 |
Washington County Mutual Insurance Company Blair, NE | $412,758 | $231,221 |
Advanced Providers Insurance Risk Retention Group Inc Phoenix, AZ | $1,682,938 | $106,563 |
Western Kansas Gas Consortium Inc Lakin, KS | $169,862 | $0 |
Security Plus Financial Corp Denver, CO | $760,362 | $61,419 |
Royal Stewart Water Company Roosevelt, UT | $0 | $0 |