Bucksport Water System Inc
- Assets
- $21.8m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 16
- Location
- Conway, SC
- Founding
- 02/2002
- Data as of
- 12/2023
- 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 12/2023, Bucksport Water System Inc employed 16 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 12/2023, Bucksport Water System Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 6.5% per year over the past 9 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
2023
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 |
|---|---|---|---|
Steven Edge President | Officer | 1 | $0 |
Mark Singleton Vice President | Officer | 1 | $0 |
Edward Anderson Treasurer | Officer | 3 | $0 |
Ricky Tinsdall Secretary | Officer | 1 | $0 |
Ashley C Proctor Manager | Officer | 40 | $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 | $3,243,385 |
| Investment income | $84,460 |
| 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 | $5,094,357 |
| 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 | $656,806 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $229,864 |
| Payroll taxes | $100,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,000 |
| Fees for services: Accounting | $32,000 |
| 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 | $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 | $180,364 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $697,457 |
| Insurance | $119,173 |
| All other expenses | $0 |
| Total functional expenses | $2,820,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,713,575 |
| Savings and temporary cash investments | $1,600,000 |
| Pledges and grants receivable | $384,800 |
| Accounts receivable, net | $196,204 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $194,176 |
| Prepaid expenses and deferred charges | $76,695 |
| Net Land, buildings, and equipment | $15,087,898 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $578,155 |
| Total assets | $21,831,503 |
| Accounts payable and accrued expenses | $997,785 |
| 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 | $7,425,970 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,350,165 |
| Total liabilities | $9,773,920 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $12,057,583 |
| 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 | $21,831,503 |