Marco Rural Water Co Inc
- Assets
- $22.3m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 25
- Location
- Marion, SC
- Founding
- 10/1986
- Data as of
- 12/2021
- EIN
- 57-0633707
Organization Overview
Marco Rural Water Co Inc is located in Marion, SC. The organization was established in 1986. 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, Marco Rural Water Co Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marco Rural Water Co 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, Marco Rural Water Co Inc generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. 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
TO PROVIDE WATER SERVICE TO THE RURAL RESIDENTS OF MARION COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER TO THE RURAL RESIDENTS OF MARION COUNTY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert T Winkler Manager | Officer | 40 | $155,296 |
Thomas E Larrimore Director | Trustee | 0.5 | $3,086 |
Joe L Gibbs Director | Trustee | 0.5 | $2,761 |
John Nichols Director | Trustee | 0.5 | $2,729 |
George Fore Director | Trustee | 0.5 | $2,696 |
Charles Collins Director | Trustee | 0.5 | $2,631 |
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 | $2,885,239 |
| Investment income | $7,228 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,000,789 |
| 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. | $179,495 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $642,271 |
| Pension plan accruals and contributions | $113,952 |
| Other employee benefits | $133,242 |
| Payroll taxes | $60,292 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $84,868 |
| Advertising and promotion | $0 |
| Office expenses | $56,128 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $215,840 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $748,147 |
| Insurance | $89,111 |
| All other expenses | $84,665 |
| Total functional expenses | $2,999,335 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,132 |
| Savings and temporary cash investments | $3,941,106 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $174,332 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $313,638 |
| Prepaid expenses and deferred charges | $58,499 |
| Net Land, buildings, and equipment | $17,801,683 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35 |
| Total assets | $22,322,425 |
| Accounts payable and accrued expenses | $135,741 |
| 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 | $7,028,477 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $128,845 |
| Total liabilities | $7,293,063 |
| Net assets without donor restrictions | $4,614,085 |
| Net assets with donor restrictions | $10,415,277 |
| 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 | $22,322,425 |
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 |
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 |
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 |
Chesterfield County Rural Water Co Inc Chesterfield, SC | $24,541,515 | $7,004,107 |
West Carteret Water Corporation Inc Newport, NC | $30,167,915 | $5,934,508 |
Breezy Hill Water And Sewer Company Inc Graniteville, SC | $43,702,618 | $8,004,878 |
Palmetto Utility Protection Service Inc Columbia, SC | $3,277,312 | $4,943,974 |
Community Water Company Of Green Valley Sanford, NC | $28,882,006 | $4,770,586 |