Bogue Banks Water Corp
- Assets
- $18.4m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 19
- Location
- Emerald Isle, NC
- Founding
- 10/1990
- Data as of
- 12/2021
- EIN
- 57-0525526
Organization Overview
Bogue Banks Water Corp is located in Emerald Isle, NC. The organization was established in 1990. 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, Bogue Banks Water Corp employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bogue Banks Water Corp 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, Bogue Banks Water Corp generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 3.3% 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
PROVIDING WATER SERVICE AND STORAGE FOR 6,484 CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING WATER SERVICE AND STORAGE FOR 6,484 CUSTOMERS
PROVIDING WATER SERVICE AND STORAGE FOR 6,484 CUSTOMERS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Carroll Chairman Of | Officer | 2 | $1,350 |
Paxon Holz Secretary/tr | Officer | 1 | $1,350 |
Chuck Jordan Board Member | Trustee | 1 | $1,350 |
Pamela Moss Board Member | Trustee | 1 | $1,350 |
Natalie Crumpler Board Member | Trustee | 1 | $1,350 |
Daisy Spell Board Member | Trustee | 1 | $1,350 |
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 | $3,804,046 |
| Investment income | $2,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,290 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,872,694 |
| 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 | $739,344 |
| Pension plan accruals and contributions | $48,741 |
| Other employee benefits | $0 |
| Payroll taxes | $54,244 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,333 |
| Fees for services: Accounting | $9,970 |
| 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 | $50,245 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,426 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $498,581 |
| Insurance | $241,461 |
| All other expenses | $176,779 |
| Total functional expenses | $2,531,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,268 |
| Savings and temporary cash investments | $2,825,981 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $801,300 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $197,794 |
| Prepaid expenses and deferred charges | $27,111 |
| Net Land, buildings, and equipment | $13,970,481 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,356,935 |
| Accounts payable and accrued expenses | $166,316 |
| 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 | $276,042 |
| Total liabilities | $442,358 |
| 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 | $1,402,632 |
| Retained earnings, endowment, accumulated income, or other funds | $16,511,945 |
| Total liabilities and net assets/fund balances | $18,356,935 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middle Georgia Electric Membership Corporation Vienna, GA | $60,693,839 | $19,174,900 |
Davidson Water Inc Welcome, NC | $156,115,966 | $18,462,382 |
Upson Electric Membership Corporation Thomaston, GA | $38,150,316 | $15,452,555 |
Craig-Botetourt Electric Co-Operative New Castle, VA | $37,707,997 | $13,868,268 |
St Johns Water Company Inc Johns Island, SC | $62,033,929 | $16,064,888 |
Electric Cooperatives Of South Carolina Cayce, SC | $5,304,727 | $13,048,925 |
Chickasaw Electric Cooperative Inc Somerville, TN | $53,475,417 | $11,540,498 |
Blue Ridge Rural Water Company Inc Greer, SC | $33,266,224 | $12,364,390 |
Little River Water & Sewerage Co Inc Little River, SC | $83,724,429 | $7,728,699 |
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 |