Marlboro Water Co Inc
- Assets
- $11.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 10
- Location
- Bennettsville, SC
- Founding
- 09/1997
- Data as of
- 12/2022
- EIN
- 57-0771623
Organization Overview
Marlboro Water Co Inc is located in Bennettsville, SC. The organization was established in 1997. 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, Marlboro Water Co Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marlboro 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 12/2022, Marlboro Water Co Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WATER TO RURAL AREAS OF MARLBORO COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MET THE WATER NEEDS OF THE MEMBERS OF THE MARLBORO WATER COMPANY. CONTINUING TO EXPAND IN ORDER TO PROVIDE ADDITIONAL RURAL AREAS WATER SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George H Mcelveen President | Officer | 4 | $3,250 |
John Young Vice President | Officer | 1 | $3,600 |
John David Treasurer | Officer | 1 | $2,160 |
Kaye Woodberry Secretary | Officer | 1 | $3,600 |
Willie Williams Director | Trustee | 1 | $3,450 |
James Sanders Jr Director | Trustee | 1 | $2,990 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $245,301 |
| 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 | $245,301 |
| Total Program Service Revenue | $1,490,033 |
| Investment income | $15,233 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,762,567 |
| 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. | $28,940 |
| Compensation of current officers, directors, key employees. | $28,940 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $292,319 |
| Pension plan accruals and contributions | $46,941 |
| Other employee benefits | $48,666 |
| Payroll taxes | $29,765 |
| Fees for services: Management | $62,000 |
| Fees for services: Legal | $23,075 |
| Fees for services: Accounting | $11,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,100 |
| Advertising and promotion | $4,152 |
| Office expenses | $7,086 |
| Information technology | $5,500 |
| 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 | $5,646 |
| Interest | $215,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $399,834 |
| Insurance | $19,058 |
| All other expenses | $102,401 |
| Total functional expenses | $1,741,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,666 |
| Savings and temporary cash investments | $609,094 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $271,675 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,743 |
| Net Land, buildings, and equipment | $9,935,147 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,240,325 |
| Accounts payable and accrued expenses | $61,060 |
| Grants payable | $0 |
| Deferred revenue | $8,606 |
| 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 | $6,546,221 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $59,880 |
| Total liabilities | $6,675,767 |
| Net assets without donor restrictions | $4,564,558 |
| 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 | $11,240,325 |