Bonita Springs Utilities Inc
- Assets
- $389.8m
- Revenue
- $53.9m
- Investments
- $60.6m
- Employees
- 157
- Location
- Bonita Springs, FL
- Founding
- 06/1988
- Data as of
- 12/2023
- EIN
- 59-1350003
Organization Overview
Bonita Springs Utilities Inc is located in Bonita Springs, FL. The organization was established in 1988. 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 12/2023, Bonita Springs Utilities Inc employed 157 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bonita Springs Utilities 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, Bonita Springs Utilities Inc generated $53.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $44.5m during the year ending 12/2023. While expenses have increased by 3.0% 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
SALE OF WATER AND WASTEWATER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT YEAR-END, BSU PROVIDED WATER SERVICE TO APPROXIMATELY 31,570 CONNECTIONS AND WASTEWATER SERVICE TO APPROXIMATELY 28,770 CONNECTIONS WITHIN THE SERVICE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Bachman Director | Trustee | 12 | $25,085 |
Mike Malloy Director | OfficerTrustee | 12 | $25,085 |
Paul Attwood Director | OfficerTrustee | 12 | $25,085 |
Brian Farrar President | OfficerTrustee | 12 | $25,085 |
Vicent Marchesani Secretary | OfficerTrustee | 12 | $25,085 |
Richard Garner Treasurer | Trustee | 12 | $25,085 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ch2m Hill Engineers Inc Construction | 12/30/23 | $4,626,318 |
Wells & Water Systems Inc Construction | 12/30/23 | $3,949,702 |
Mitchell & Stark Construction Inc Construction | 12/30/23 | $3,761,063 |
Ferguson Enterprises Inc Construction | 12/30/23 | $2,460,481 |
F J Nugent & Associates Inc Construction | 12/30/23 | $956,213 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,615,961 |
| 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 | $5,615,961 |
| Total Program Service Revenue | $46,854,089 |
| Investment income | $1,553,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$291,106 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,932,317 |
| 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. | $1,208,020 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,304,726 |
| Pension plan accruals and contributions | $772,361 |
| Other employee benefits | $2,617,719 |
| Payroll taxes | $703,121 |
| Fees for services: Management | $244,813 |
| Fees for services: Legal | $175,620 |
| Fees for services: Accounting | $56,565 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,369 |
| Fees for services: Other | $578,355 |
| Advertising and promotion | $4,432 |
| Office expenses | $321,711 |
| Information technology | $1,132,075 |
| Royalties | $0 |
| Occupancy | $3,119,889 |
| Travel | $45,787 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $713,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,675,258 |
| Insurance | $1,133,667 |
| All other expenses | $1,936,594 |
| Total functional expenses | $44,501,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,069,842 |
| Savings and temporary cash investments | $8,176,461 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,653,057 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,725,914 |
| Inventories for sale or use | $973,036 |
| Prepaid expenses and deferred charges | $592,519 |
| Net Land, buildings, and equipment | $298,503,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $60,562,297 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,543,282 |
| Total assets | $389,799,625 |
| Accounts payable and accrued expenses | $3,521,832 |
| Grants payable | $0 |
| Deferred revenue | $5,821,408 |
| Tax-exempt bond liabilities | $43,345,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,961,680 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,959,774 |
| Total liabilities | $69,609,694 |
| 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 | $174,355,777 |
| Retained earnings, endowment, accumulated income, or other funds | $145,834,154 |
| Total liabilities and net assets/fund balances | $389,799,625 |