Garrard County Water Association Inc
- Assets
- $19.9m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 15
- Location
- Lancaster, KY
- Founding
- 04/1972
- Data as of
- 12/2023
- EIN
- 61-0712154
Organization Overview
Garrard County Water Association Inc is located in Lancaster, KY. The organization was established in 1972. 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, Garrard County Water Association Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Garrard County Water Association 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, Garrard County Water Association Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 2.6% 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
PROVISION OF WATER TO ASSOCIATION MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF WATER SERVICE TO 6,201 RURAL RESIDENTIAL AND COMMERCIAL WATER CUSTOMERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Ballard Board Member | Trustee | 1 | $3,900 |
Jenny Lynn Whittaker Sec-Treasurer / Board Mbr | OfficerTrustee | 1 | $4,400 |
Felix Reynolds Vice Pres / Board Member | OfficerTrustee | 1 | $3,600 |
Billy Doolin President / Board Member | OfficerTrustee | 1 | $4,400 |
Gary Clark Board Member | Trustee | 1 | $3,600 |
William Oliver Board Member | Trustee | 1 | $6,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $996,045 |
| 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 | $996,045 |
| Total Program Service Revenue | $2,640,407 |
| Investment income | $147,493 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,696 |
| Net Gain/Loss on Asset Sales | -$1,900 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,784,741 |
| 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. | $141,229 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $304,091 |
| Pension plan accruals and contributions | $10,216 |
| Other employee benefits | $47,475 |
| Payroll taxes | $32,857 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,923 |
| Fees for services: Accounting | $25,399 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,632 |
| Fees for services: Other | $37,366 |
| Advertising and promotion | $240 |
| Office expenses | $79,062 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,043 |
| Travel | $23,062 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $20,631 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $461,513 |
| Insurance | $37,266 |
| All other expenses | $11,200 |
| Total functional expenses | $2,411,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,231 |
| Savings and temporary cash investments | $4,043,728 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,467 |
| 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 | $21,608 |
| Net Land, buildings, and equipment | $14,763,865 |
| Investments—publicly traded securities | $769,585 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,047 |
| Total assets | $19,866,531 |
| Accounts payable and accrued expenses | $185,043 |
| 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 | $2,500,000 |
| Unsecured mortgages and notes payable | $1,187,256 |
| Other liabilities | $16,945 |
| Total liabilities | $3,889,244 |
| 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 | $10,989,384 |
| Retained earnings, endowment, accumulated income, or other funds | $4,987,903 |
| Total liabilities and net assets/fund balances | $19,866,531 |