Friendship Water Works
- Assets
- $2.0m
- Revenue
- $925.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Tallassee, AL
- Founding
- 01/1992
- Data as of
- 12/2023
- EIN
- 63-0686111
Organization Overview
Friendship Water Works is located in Tallassee, AL. The organization was established in 1992. 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, Friendship Water Works employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Water Works 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, Friendship Water Works generated $925.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $869.1k during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 8 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
SUPPLY WATER TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDSHIP WATER WORKS SUPPLIES WATER TO ITS MEMBERS. THE MEMBERS PAY FOR THE WATER SERVICE THEY RECEIVE.
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 |
|---|---|---|---|
Steve Dennis Chairman | Officer | 20 | $26,001 |
Terry Poague Vice Chairma | Officer | $600 | |
Ann Webster Secretary/tr | Officer | $200 | |
Toby Ward Board Member | Trustee | $700 | |
Jessie Skipper Jr Board Member | Trustee | $700 | |
Stanley Coleman Board Member | Trustee | $700 |
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 | $915,516 |
| Investment income | $2,000 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,875 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $925,913 |
| 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 | $164,482 |
| Pension plan accruals and contributions | $1,731 |
| Other employee benefits | $19,434 |
| Payroll taxes | $12,546 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,445 |
| 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 | $13,872 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,462 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,918 |
| Insurance | $18,930 |
| All other expenses | $58,070 |
| Total functional expenses | $869,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $476,326 |
| Savings and temporary cash investments | $117,455 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $77,044 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,850 |
| Prepaid expenses and deferred charges | $3,546 |
| Net Land, buildings, and equipment | $1,269,686 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,016,907 |
| Accounts payable and accrued expenses | $23,303 |
| 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 | $560,220 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $33,487 |
| Total liabilities | $617,010 |
| Net assets without donor restrictions | $1,358,257 |
| Net assets with donor restrictions | $41,640 |
| 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 | $2,016,907 |