Sterrett-Vandiver Water System Inc
- Assets
- $2.3m
- Revenue
- $716.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Sterrett, AL
- Founding
- 06/2004
- Data as of
- 12/2022
- EIN
- 62-1370148
Organization Overview
Sterrett-Vandiver Water System Inc is located in Sterrett, AL. The organization was established in 2004. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Sterrett-Vandiver Water System Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sterrett-Vandiver Water System 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 12/2022, Sterrett-Vandiver Water System Inc generated $716.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $666.1k during the year ending 12/2022. While expenses have increased by 2.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO CONSTRUCT AND OPERATE A WATER SYSTEM FOR THE STERRETT-VANDIVER COMMUNITY AND A PORTION OF THE SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED TO CONSTRUCT AND OPERATE A WATER SYSTEM FOR THE STERRETT-VANDIVER COMMUNITY AND APORTION OF THE SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Devin Weldon Director | Trustee | 0 | $0 |
Barry Brasher Director | Trustee | 0 | $0 |
Arthur Powell Director | Trustee | 0 | $0 |
Mike Clinkscales Vice President | OfficerTrustee | 0 | $0 |
Mary F Roensch President | OfficerTrustee | 0 | $0 |
Melanie Goodwin Secretarytreasurer | Officer | 30 | $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 | $669,246 |
| Investment income | $4,653 |
| 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 | $716,706 |
| 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 | $170,566 |
| Pension plan accruals and contributions | $3,046 |
| Other employee benefits | $0 |
| Payroll taxes | $12,563 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,388 |
| 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 | $17,076 |
| Travel | $18,517 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,428 |
| Interest | $3,943 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,544 |
| Insurance | $12,149 |
| All other expenses | $38,183 |
| Total functional expenses | $666,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,508 |
| Savings and temporary cash investments | $533,546 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $72,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $40,749 |
| Prepaid expenses and deferred charges | $10,735 |
| Net Land, buildings, and equipment | $1,319,884 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,343,775 |
| Accounts payable and accrued expenses | $25,033 |
| 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 | $256,283 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $68,401 |
| Total liabilities | $349,717 |
| Net assets without donor restrictions | $1,994,058 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,343,775 |