Pace Water Systems Inc
- Assets
- $100.7m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 54
- Location
- Pace, FL
- Founding
- 07/1969
- Data as of
- 12/2021
- EIN
- 59-1098296
Organization Overview
Pace Water Systems Inc is located in Pace, FL. The organization was established in 1969. 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 12/2021, Pace Water Systems Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pace Water Systems 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, Pace Water Systems Inc generated $12.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $10.2m during the year ending 12/2021. While expenses have increased by 15.5% 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
TO OPERATE AND MAINTAIN A SYSTEM FOR THE SUPPLY AND DISTRIBUTION OF WATER, SEWER, AND REUSE WITHIN ITS FRANCHISE AREA GRANTED BY SANTA ROSA COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE AND MAINTAIN A SYSTEM FOR THE SUPPLY AND DISTRIBUTION OF WATER, SEWER, AND REUSE WITHIN ITS FRANCHISE AREA GRANTED BY SANTA ROSA COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Damon Boutwell General Mana | Officer | 40 | $139,295 |
Doug Dangelo Controller | Officer | 40 | $83,841 |
Paul Hinson President | OfficerTrustee | $0 | |
Steve Lukow Secretary | OfficerTrustee | $0 | |
Crawford Odom Vice Preside | OfficerTrustee | $0 | |
Danny Warrick Treasurer | OfficerTrustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J&p Construction Construction | 12/30/21 | $4,223,117 |
American Tank Maintenance Maintenance | 12/30/21 | $291,217 |
Mott Mcdonald Engineer | 12/30/21 | $266,716 |
Talcon Group Construction | 12/30/21 | $4,047,602 |
Utility Service Co Maintenance | 12/30/21 | $1,443,046 |
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 | $12,480,311 |
| Investment income | $17,777 |
| 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 | $12,498,088 |
| 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. | $223,136 |
| Compensation of current officers, directors, key employees. | $61,362 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,589,434 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $206,209 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,595 |
| Fees for services: Accounting | $23,089 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,724 |
| Office expenses | $44,946 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $28,452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $963 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,745,585 |
| Insurance | $886,600 |
| All other expenses | $1,212,319 |
| Total functional expenses | $10,206,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $691,828 |
| Savings and temporary cash investments | $11,185,557 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,375,506 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $149,624 |
| Inventories for sale or use | $1,010,992 |
| Prepaid expenses and deferred charges | $100,370 |
| Net Land, buildings, and equipment | $53,302,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,924,719 |
| Total assets | $100,740,740 |
| Accounts payable and accrued expenses | $998,463 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,874,331 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,872,794 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $42,795 |
| Paid-in or capital surplus, or land, building, or equipment fund | $46,659,600 |
| Retained earnings, endowment, accumulated income, or other funds | $51,165,551 |
| Total liabilities and net assets/fund balances | $100,740,740 |
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