Fleming County Water Association Inc
- Assets
- $9.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Flemingsburg, KY
- Founding
- 11/1973
- Data as of
- 12/2021
- EIN
- 61-0716354
Organization Overview
Fleming County Water Association Inc is located in Flemingsburg, KY. The organization was established in 1973. 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 12/2021, Fleming County Water Association Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fleming 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 12/2021, Fleming County Water Association Inc generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING WATER SERVICE FOR FLEMING COUNTY KENTUCKY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED WATER SERVICE TO APROXIMATELY 4000 CUSTOMERS IN FLEMING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K Cornette Superintendent | Officer | 40 | $78,511 |
Stephen Miller President | Officer | 2 | $2,400 |
Connie Crain VP | Officer | 2 | $2,400 |
Kirby Story Treasurer | Officer | 2 | $2,400 |
Wayne Craft Secretary | Officer | 2 | $2,400 |
P Wagoner Director | Trustee | 2 | $2,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,440 |
| 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 | $3,440 |
| Total Program Service Revenue | $2,071,719 |
| Investment income | $565 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,075,724 |
| 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. | $92,911 |
| Compensation of current officers, directors, key employees. | $92,911 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $420,134 |
| Pension plan accruals and contributions | $46,580 |
| Other employee benefits | $101,182 |
| Payroll taxes | $36,974 |
| 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 | $0 |
| Office expenses | $0 |
| 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 | $77,236 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $334,826 |
| Insurance | $25,779 |
| All other expenses | $697,213 |
| Total functional expenses | $2,131,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $669,321 |
| Savings and temporary cash investments | $486,943 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $238,091 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $222,273 |
| Prepaid expenses and deferred charges | $9,965 |
| Net Land, buildings, and equipment | $7,856,559 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $22,386 |
| Other assets | $0 |
| Total assets | $9,505,538 |
| Accounts payable and accrued expenses | $472,796 |
| Grants payable | $0 |
| Deferred revenue | $29,831 |
| 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 | $2,164,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $144,645 |
| Total liabilities | $2,812,172 |
| Net assets without donor restrictions | $6,206,342 |
| Net assets with donor restrictions | $487,024 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,505,538 |
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