Icard Township Water Corporation
- Assets
- $8.2m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 8
- Location
- Hildebran, NC
- Founding
- 12/1968
- Data as of
- 09/2020
- EIN
- 56-0904671
Organization Overview
Icard Township Water Corporation is located in Hildebran, NC. 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 09/2020, Icard Township Water Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icard Township Water Corporation 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 09/2020, Icard Township Water Corporation 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 3.1% each year. All expenses for the organization totaled $1.7m during the year ending 09/2020. While expenses have increased by 5.6% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WATER SERVICES FOR APPROXIMATELY 3,330 ICARD TOWNSHIP RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER SERVICE PROVIDED TO ICARD TOWNSHIP RESIDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan R Pons Manager | OfficerTrustee | 40 | $84,101 |
James Gorsuch President | OfficerTrustee | 10 | $37,100 |
Kermit Holshouser Secretary/treasurer | OfficerTrustee | 1 | $0 |
Larry Martin Vice-President | OfficerTrustee | 1 | $0 |
Leon Ledford Director | Trustee | 1 | $0 |
Leonard Watts Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $47,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| 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 | $2,004,778 |
| Statement of Expenses | |
|---|---|
| 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. | $121,201 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $214,909 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $48,047 |
| Payroll taxes | $48,480 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $41,606 |
| Information technology | $37,473 |
| Royalties | $0 |
| Occupancy | $15,900 |
| Travel | $1,848 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $199,952 |
| Insurance | $31,535 |
| All other expenses | $0 |
| Total functional expenses | $1,660,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,643 |
| Savings and temporary cash investments | $5,173,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $133,530 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,033 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,223,214 |
| Accounts payable and accrued expenses | $1,310 |
| 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 | $0 |
| Total liabilities | $1,310 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $8,221,904 |
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|---|---|---|
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Virginia Maryland Delaware Association Of Electric Cooperativ Glen Allen, VA | $4,896,321 | $7,911,064 |
Tennessee One-Call System Inc Nashville, TN | $15,040,368 | $8,322,679 |
Chesterfield County Rural Water Co Inc Chesterfield, SC | $24,541,515 | $7,004,107 |