Rowan Water Inc

Organization Overview

Rowan Water Inc is located in Morehead, KY. The organization was established in 1971. 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, Rowan Water Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rowan Water 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, Rowan Water Inc generated $4.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $4.0m during the year ending 12/2023. While expenses have increased by 2.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE WATER SERVICE TO RESIDENTS IN THE ROWAN COUNTY AREA

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE WATER SERVICE TO RESIDENTS IN THE ROWAN COUNTY AREA


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Board, Officers & Key Employees

Name (title)Compensation
Jerry Patrick
General Manager
$72,084
Larry Johnson
President
$6,535
Mike Collins
Secretary Treasurer
$6,535
Randy Cox
Member
$5,365
Enoch Blair
Vice President
$5,365
Duane Dehart
Member
$5,007

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$3,798,419
Investment income $54,040
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $156,596
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,181,121

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