Gasparilla Island Water Assoc Inc is located in Boca Grande, 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 09/2022, Gasparilla Island Water Assoc Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gasparilla Island Water Assoc 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 09/2022, Gasparilla Island Water Assoc Inc generated $6.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $5.3m during the year ending 09/2022. 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 CONSTRUCT, MAINTAIN, AND OPERATE A WATER SYSTEM FOR THE SUPPLYING OF WATER FOR DOMESTIC, COMMERCIAL, AGRICULTURAL, INDUSTRIAL, AND OTHER PURPOSES TO ITS MEMBERS AND TO CONSTRUCT, MAINTAIN, AND OPERATE A SEWAGE DISPOSAL SYSTEM FOR THE USE AND BENEFIT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDES WATER AND SEWER SERVICES TO APPROXIMATELY 1,768 USERS ON GASPARILLA ISLAND.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bonnie Pringle Utility Director - Previous | Officer | 40 | $160,541 |
William Caldwell President | OfficerTrustee | 2 | $0 |
Gasper Kovach Treasurer | OfficerTrustee | 2 | $0 |
Tom Courtney Vice-President | OfficerTrustee | 2 | $0 |
Sue Spurgeon Secretary | OfficerTrustee | 2 | $0 |
Ronald L Bolton Utility Director | Officer | 40 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cardinal Contractors Inc Construction | 9/29/22 | $1,258,267 |
Tampa Armature Works Inc Construction | 9/29/22 | $748,284 |
Florida Utility Solutions Repair Services | 9/29/22 | $113,825 |
Dejonge Excavating Contractors Excavator | 9/29/22 | $253,835 |
Hole-montes Inc Engineering | 9/29/22 | $507,878 |
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 | $6,749,478 |
Investment income | $112,403 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$31,870 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $6,839,429 |
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. | $124,957 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,089,113 |
Pension plan accruals and contributions | $104,557 |
Other employee benefits | $246,823 |
Payroll taxes | $97,144 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,264 |
Fees for services: Accounting | $18,823 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $41,967 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $428,528 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $347,321 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,252,933 |
Insurance | $407,672 |
All other expenses | $180,566 |
Total functional expenses | $5,272,860 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $796 |
Savings and temporary cash investments | $9,681,056 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $595,021 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $114,155 |
Prepaid expenses and deferred charges | $459,433 |
Net Land, buildings, and equipment | $29,968,802 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,438 |
Total assets | $40,821,701 |
Accounts payable and accrued expenses | $888,663 |
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 | $20,253,815 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $21,142,478 |
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 | $7,358,174 |
Retained earnings, endowment, accumulated income, or other funds | $12,321,049 |
Total liabilities and net assets/fund balances | $40,821,701 |
Organization Name | Assets | Revenue |
---|---|---|
Middle Georgia Electric Membership Corporation Vienna, GA | $60,693,839 | $19,174,900 |
Tombigbee Electric Cooperative Inc Hamilton, AL | $70,534,555 | $17,768,087 |
Upson Electric Membership Corporation Thomaston, GA | $38,150,316 | $15,452,555 |
Marshall-Dekalb Electric Cooperative Boaz, AL | $96,065,726 | $18,545,582 |
Destin Water Users Inc Destin, FL | $116,857,681 | $20,467,236 |
Holley Navarre Water System Navarre, FL | $73,632,093 | $12,282,279 |
Pace Water Systems Inc Pace, FL | $100,740,740 | $12,498,088 |
South Walton Utility Company Inc Miramar Beach, FL | $77,529,965 | $12,379,659 |
Franklin Electric Cooperative Russellville, AL | $55,032,541 | $9,493,610 |
Island Water Association Inc Sanibel, FL | $37,970,400 | $8,170,096 |
Gasparilla Island Water Assoc Inc Boca Grande, FL | $40,821,701 | $6,839,429 |
Auburn Water System Inc Crestview, FL | $22,363,702 | $6,295,559 |