Bell Arthur Water Corporation
- Assets
- $8.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Bell Arthur, NC
- Founding
- 07/1974
- Data as of
- 12/2022
- EIN
- 56-0993551
Organization Overview
Bell Arthur Water Corporation is located in Bell Arthur, NC. The organization was established in 1974. 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 12/2022, Bell Arthur Water Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bell Arthur 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 12/2022, Bell Arthur Water Corporation generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 6 years. 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
BELL ARTHUR WATER CORPORATION OPERATES AS A MEMBER-OWNED CORPORATE BODY TO CONSTRUCT, MAINTAIN, AND OPERATE A RURAL WATER SYSTEM SERVING THE MEMBER-OWNERS IN WESTERN PITT COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION'S EXEMPT PURPOSE IS TO PROVIDE WATER TO ITS MEMBERSHIP. IT CARRIED OUT ITS EXEMPT PURPOSE BY PROVIDING THE WATER TO ITS MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Ray Baldree Exec Directo | $110,031 | ||
Virgil O'neal Vice-Preside | OfficerTrustee | 1 | $9,451 |
Mike Dunn President | OfficerTrustee | 1 | $5,624 |
Darrell Rudisill Vice-Preside | OfficerTrustee | $4,503 | |
Carnie Hedgepeth Treasurer | Trustee | $3,334 | |
Edward Mills Director | Trustee | $3,334 |
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 | $2,410,342 |
| Investment income | $14,123 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,441,965 |
| 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. | $26,246 |
| Compensation of current officers, directors, key employees. | $26,246 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $353,554 |
| Pension plan accruals and contributions | $33,719 |
| Other employee benefits | $3,282 |
| Payroll taxes | $29,507 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,765 |
| Fees for services: Accounting | $17,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,710 |
| Advertising and promotion | $405 |
| Office expenses | $23,591 |
| Information technology | $5,084 |
| Royalties | $0 |
| Occupancy | $43,501 |
| Travel | $6,963 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $316,301 |
| Insurance | $96,502 |
| All other expenses | $109,885 |
| Total functional expenses | $2,041,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,443,118 |
| Savings and temporary cash investments | $549,384 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $475,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,449 |
| Prepaid expenses and deferred charges | $2,266 |
| Net Land, buildings, and equipment | $5,470,884 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,073 |
| Total assets | $8,004,201 |
| Accounts payable and accrued expenses | $13,554 |
| 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 | $274,947 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $471,773 |
| Total liabilities | $760,274 |
| Net assets without donor restrictions | $7,243,927 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,004,201 |