Bear Creek Water Association Inc
- Assets
- $98.2m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 33
- Location
- Madison, MS
- Founding
- 01/1992
- Data as of
- 10/2022
- EIN
- 58-1965138
Organization Overview
Bear Creek Water Association Inc is located in Madison, MS. The organization was established in 1992. 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 10/2022, Bear Creek Water Association Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bear Creek Water Association 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 10/2022, Bear Creek Water Association Inc generated $12.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $9.5m during the year ending 10/2022. While expenses have increased by 4.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE WATER AND SEWER SYSTEM TO RURAL MADISON COUNTY, MS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE PUBLIC UTILITY SERVICES TO MORE THAN 18,000 WATER CUSTOMERS AND MORE THAN 7,000 SEWER CUSTOMERS IN A 97 SQUARE MILE SERVICE AREA IN SOUTHERN MADISON COUNTY, MS.
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nolan P Williamson General Manager/secretary | Officer | 40 | $137,838 |
Hannah Lewis CFO | Officer | 40 | $89,262 |
Buddy Voelkel President | OfficerTrustee | 6 | $6,500 |
Adam Jenkins Jr Vice President | OfficerTrustee | 2 | $2,700 |
Bobby Brown Director | Trustee | 2 | $2,500 |
Connie Barfield Director | Trustee | 2 | $2,300 |
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 | $11,210,443 |
| Investment income | $41,866 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,470 |
| Net Gain/Loss on Asset Sales | -$2,301 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,566,846 |
| 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. | $242,800 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,747,797 |
| Pension plan accruals and contributions | $108,071 |
| Other employee benefits | $0 |
| Payroll taxes | $148,190 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,964 |
| Fees for services: Accounting | $33,318 |
| 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 | $222,823 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,376 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,170 |
| Interest | $96,124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,011,991 |
| Insurance | $442,330 |
| All other expenses | $468,353 |
| Total functional expenses | $9,505,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,162,302 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,420,252 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $528,532 |
| Prepaid expenses and deferred charges | $258,830 |
| Net Land, buildings, and equipment | $78,727,024 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,645 |
| Total assets | $98,155,585 |
| Accounts payable and accrued expenses | $1,978,253 |
| Grants payable | $0 |
| Deferred revenue | $51,737,840 |
| 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 | $2,767,797 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,725,985 |
| Total liabilities | $60,209,875 |
| Net assets without donor restrictions | $0 |
| 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 | $37,945,710 |
| Total liabilities and net assets/fund balances | $98,155,585 |
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|---|---|---|
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Tombigbee Electric Cooperative Inc Hamilton, AL | $70,534,555 | $17,768,087 |
Marshall-Dekalb Electric Cooperative Boaz, AL | $96,065,726 | $18,545,582 |
Alcorn County Electric Power Association Corinth, MS | $107,123,733 | $19,179,595 |
Ashley-Chicot Electric Cooperative Inc Hamburg, AR | $39,523,502 | $11,933,884 |
Farmers Electric Cooperative Corporation Newport, AR | $38,614,201 | $11,561,082 |
Tippah Electric Power Association Ripley, MS | $65,329,925 | $18,280,183 |
Arkansas Utility Protections Service Inc Conway, AR | $5,398,347 | $11,673,030 |
Bear Creek Water Association Inc Madison, MS | $98,155,585 | $12,566,846 |
Chickasaw Electric Cooperative Inc Somerville, TN | $53,475,417 | $11,540,498 |
Franklin Electric Cooperative Russellville, AL | $55,032,541 | $9,493,610 |