Wallace Water Company Inc

Organization Overview

Wallace Water Company Inc is located in Wallace, SC. The organization was established in 1976. 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, Wallace Water Company Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wallace Water Company 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, Wallace Water Company Inc generated $712.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $704.1k during the year ending 12/2021. While expenses have increased by 3.1% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

RURAL WATER SERVICE

Describe the Organization's Program Activity:

Part 3 - Line 4a

WALLACE WATER COMPANY INC IS A MEMBER-OWNED ORGANIZATION ENGAGED IN THE EXTRACTION AND DISTRIBUTION OF WATER AND RELATED SERVICES TO WALLACE SOUTH CAROLINA AND SURROUNDING COMMUNITIES. THROUGH THE OPERATION AND MAINTENANCE OF WELL STATIONS, TOWERS AND DISTRIBUTION LINES, WWC SERVES APPROXIMATELY 950 CUSTOMERS.


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Board, Officers & Key Employees

Name (title)Compensation
Maxine Knight
Treasurer
$31,424
Jeremy Steen
President
$22,917
Charles Deaver
Director
$1,400
John Frank Bennett
Director
$1,400
B H Guinn
Director
$1,400
Frank Williams
Director
$1,400

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $30,300
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$30,300
Total Program Service Revenue$679,190
Investment income $425
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,500
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $712,415

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