Bucksport Water System Inc
- Assets
- $17.9m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Conway, SC
- Founding
- 02/2002
- Data as of
- 12/2021
- EIN
- 57-0809787
Organization Overview
Bucksport Water System Inc is located in Conway, SC. The organization was established in 2002. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Bucksport Water System Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bucksport Water System 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, Bucksport Water System Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 5.6% 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
PROVIDE PUBLIC WATER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PUBLIC WATER TO MEMBERS BOTH RESIDENTIAL AND COMMERCIAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley C Proctor Manager | Officer | 0 | $64,318 |
Steven Edge Vice President | Officer | 1 | $0 |
Zack Dusenbury President | Officer | 1 | $0 |
Mark Singleton Treasurer | Officer | 3 | $0 |
Ricky Tinsdall Secretary | Officer | 1 | $0 |
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 | $2,592,479 |
| Investment income | $9,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,096,455 |
| 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 | $567,954 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $199,975 |
| Payroll taxes | $43,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,000 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,692 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $209,589 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $433,590 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,347,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,941,948 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $173,740 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $109,103 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,656,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,015,828 |
| Total assets | $17,896,855 |
| Accounts payable and accrued expenses | $845,290 |
| 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 | $7,808,668 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,265,077 |
| Total liabilities | $9,919,035 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $7,977,820 |
| 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 | $17,896,855 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Carolina Farm Bureau Federation Inc Raleigh, NC | $43,526,522 | $15,980,144 |
Georgia Farm Bureau Federation Macon, GA | $39,904,441 | $13,619,773 |
South Carolina Farm Bureau Federation Columbia, SC | $51,878,681 | $8,239,194 |
Southeast Produce Council Millen, GA | $7,110,033 | $5,998,694 |
American Dairy Goat Association Spindale, NC | $1,569,647 | $2,322,313 |
Bucksport Water System Inc Conway, SC | $17,896,855 | $3,096,455 |
Boll Weevil Eradication Foundation Of Georgia Inc Tifton, GA | $5,087,795 | $1,811,217 |
North Carolina Pork Council Raleigh, NC | $4,219,052 | $2,248,246 |
Nc Sweet Potato Commission Inc Benson, NC | $4,117,060 | $3,634,489 |
Wnc Communities Asheville, NC | $3,319,263 | $1,564,474 |
Koinonia Farm Americus, GA | $1,152,074 | $993,655 |
Minorities In Agriculture Natural Resources & Related Sci Atlanta, GA | $2,906,308 | $1,954,738 |