Belforest Water System
- Assets
- $16.7m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 13
- Location
- Daphne, AL
- Founding
- 02/1976
- Data as of
- 12/2021
- EIN
- 63-0649171
Organization Overview
Belforest Water System is located in Daphne, AL. The organization was established in 1976. 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, Belforest Water System employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Belforest Water System 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, Belforest Water System generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 7.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WATER SERVICE TO THE COMMUNITY OF BELFOREST IN BALDWIN COUNTY, ALABAMA
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNS AND OPERATES A WATER DISTRIBUTION SYSTEM IN THE COMMUNITY OF BELFOREST IN BALDWIN COUNTY, ALABAMA
OWNS AND OPERATES A WATER DISTRIBUTION SYSTEM IN THE COMMUNITY OF BELFOREST
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Dube President | OfficerTrustee | 2 | $3,600 |
Daryl Cleworth Secretary/tr | OfficerTrustee | 1 | $3,000 |
James Mcfall Vice Preside | OfficerTrustee | 1 | $3,000 |
Patrick Heiter Member | Trustee | 1 | $2,400 |
Don Joffe Member | Trustee | 1 | $2,200 |
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 | $3,568,888 |
| Investment income | $9,845 |
| 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 | $3,578,733 |
| 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. | $14,200 |
| Compensation of current officers, directors, key employees. | $14,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $595,418 |
| Pension plan accruals and contributions | $29,990 |
| Other employee benefits | $134,623 |
| Payroll taxes | $45,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,101 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $902,991 |
| Advertising and promotion | $0 |
| Office expenses | $27,732 |
| 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 | $13,595 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $392,402 |
| Insurance | $73,982 |
| All other expenses | $0 |
| Total functional expenses | $2,249,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,688 |
| Savings and temporary cash investments | $4,265,169 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $173,500 |
| 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 | $116,578 |
| Net Land, buildings, and equipment | $9,936,104 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,978,526 |
| Total assets | $16,714,565 |
| Accounts payable and accrued expenses | $107,593 |
| 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 | $1,014,548 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $303,383 |
| Total liabilities | $1,425,524 |
| Net assets without donor restrictions | $15,289,041 |
| 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 | $16,714,565 |
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Alcorn County Electric Power Association Corinth, MS | $107,123,733 | $19,179,595 |
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Bear Creek Water Association Inc Madison, MS | $98,155,585 | $12,566,846 |