Joint Well Field Inc
- Assets
- $8.8m
- Revenue
- $856.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Toronto, SD
- Founding
- 06/2004
- Data as of
- 12/2023
- EIN
- 58-2667474
Organization Overview
Joint Well Field Inc is located in Toronto, SD. The organization was established in 2004. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joint Well Field 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, Joint Well Field Inc generated $856.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $738.7k during the year ending 12/2023. While expenses have increased by 11.3% 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
TO PROVIDE A REALIABLE SOURCE OF WATER FOR THE TAX EXEMPT RURAL WATER SYSTEMS OF BROOKINGS-DEUEL RURAL WATER SYSTEM AND KINGBROOK RURAL WATER SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RELIABLE SOURCE OF WATER TO RURAL WATER SYSTEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Brandenburger Director | Trustee | 1 | $700 |
Troy Lenning Director | Trustee | 1 | $700 |
Neal Kjenstad President | Officer | 1 | $700 |
Scott Tolzin Vice President | Officer | 1 | $700 |
Doyle Renaas Sec/treasurer | Officer | 1 | $700 |
Reed Andries Manager - Bks D | Trustee | 1 | $525 |
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 | $747,713 |
| Investment income | $35,044 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $49,979 |
| 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 | $856,862 |
| 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. | $4,025 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,114 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,739 |
| Fees for services: Accounting | $7,029 |
| 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 | $116,773 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $179,236 |
| Insurance | $12,920 |
| All other expenses | $43,421 |
| Total functional expenses | $738,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $610,874 |
| Savings and temporary cash investments | $55,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $3,640 |
| Net Land, buildings, and equipment | $7,939,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $227,709 |
| Total assets | $8,836,721 |
| Accounts payable and accrued expenses | $109,430 |
| 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 | $4,958,907 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $150,495 |
| Total liabilities | $5,218,832 |
| Net assets without donor restrictions | $3,567,889 |
| Net assets with donor restrictions | $50,000 |
| 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 | $8,836,721 |
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