Freeny Water Association
- Assets
- $2.9m
- Revenue
- $660.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Carthage, MS
- Founding
- 01/1998
- Data as of
- 06/2021
- EIN
- 62-1373723
Organization Overview
Freeny Water Association is located in Carthage, MS. The organization was established in 1998. 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 06/2021, Freeny Water Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freeny Water Association 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 06/2021, Freeny Water Association generated $660.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $570.6k during the year ending 06/2021. While expenses have increased by 0.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES WATER FOR APPROXIMATELY TWO THOUSAND MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUE FROM WATER SERVICE FURNISHED TO MEMBERS ENABLES THE ASSOCIATION TO MAINTAIN THE SYSTEM AND RETIRE DEBT.
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 |
|---|---|---|---|
Philip Crosby Vice Preside | OfficerTrustee | 1 | $960 |
H V Neal President | OfficerTrustee | 1 | $960 |
Linda Terrell Secretary | OfficerTrustee | 1 | $960 |
Kenneth Clayton Director | Trustee | 1 | $960 |
Leran Ealy Director | Trustee | 1 | $960 |
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 | $656,711 |
| Investment income | $3,354 |
| 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 | $660,065 |
| 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 | $142,085 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,200 |
| Fees for services: Accounting | $6,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $393 |
| Office expenses | $8,001 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,801 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $129,941 |
| Insurance | $22,078 |
| All other expenses | $15,537 |
| Total functional expenses | $570,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,785 |
| Savings and temporary cash investments | $569,567 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,715 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $30,434 |
| Prepaid expenses and deferred charges | $12,521 |
| Net Land, buildings, and equipment | $1,934,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,910,710 |
| Accounts payable and accrued expenses | $29,072 |
| 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 | $820,127 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,876 |
| Total liabilities | $919,075 |
| Net assets without donor restrictions | $357,342 |
| Net assets with donor restrictions | $1,634,293 |
| 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 | $2,910,710 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dixie Electric Power Assn Laurel, MS | $277,061,319 | $96,509,999 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Central Electric Power Association Carthage, MS | $142,416,370 | $101,127,410 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |
Sequachee Valley Electric Cooperative South Pittsburg, TN | $165,775,520 | $105,669,415 |
Central Alabama Electric Cooperative Prattville, AL | $339,092,082 | $97,489,806 |
Washington-St Tammany Electric Cooperative Inc 1570 Franklinton, LA | $266,667,290 | $97,380,073 |
Craighead Electric Cooperative Corporation Jonesboro, AR | $310,856,675 | $82,491,659 |
East Mississippi Electric Power Meridian, MS | $245,986,766 | $82,434,057 |
Tallahatchie Valley Electric Power Association Batesville, MS | $194,805,351 | $79,246,266 |
Magnolia Electric Power Association Mccomb, MS | $199,848,773 | $77,004,678 |
North East Mississippi Electric Power Association Oxford, MS | $187,264,914 | $81,626,434 |