Molino Utilities Inc
- Assets
- $5.4m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 6
- Location
- Molino, FL
- Founding
- 03/1969
- Data as of
- 08/2023
- EIN
- 59-6214326
Organization Overview
Molino Utilities Inc is located in Molino, 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 08/2023, Molino Utilities Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Molino 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 08/2023, Molino Utilities Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $949.1k during the year ending 08/2023. While expenses have increased by 2.6% per year over the past 5 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
RURAL WATER SYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER FOR UNINCORPORATED AREA SERVING APPROXIMATELY 2,500 CUSTOMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vernon Prather President | OfficerTrustee | 15 | $0 |
Charlie Driver Vice Preside | OfficerTrustee | 5 | $0 |
Sandy Enfinger Secretary & | OfficerTrustee | 5 | $0 |
Archie Weaver Director | Trustee | 5 | $0 |
Matthew Enfinger Director | Trustee | 5 | $0 |
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 | $1,107,290 |
| Investment income | $11,363 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,122,519 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,471 |
| Pension plan accruals and contributions | $13,649 |
| Other employee benefits | $21,934 |
| Payroll taxes | $23,441 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,820 |
| Office expenses | $6,068 |
| 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 | $62,197 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $99,338 |
| Insurance | $44,014 |
| All other expenses | $72,044 |
| Total functional expenses | $949,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468,705 |
| Savings and temporary cash investments | $1,019,256 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,842 |
| 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 | $5,950 |
| Net Land, buildings, and equipment | $3,711,731 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $227,615 |
| Total assets | $5,448,099 |
| Accounts payable and accrued expenses | $193,760 |
| 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 | $1,411,986 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $99,243 |
| Total liabilities | $1,704,989 |
| 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 | $768,714 |
| Retained earnings, endowment, accumulated income, or other funds | $2,974,396 |
| Total liabilities and net assets/fund balances | $5,448,099 |