Green Pond Water System Inc
- Assets
- $11.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Greenpond, AL
- Founding
- 09/1970
- Data as of
- 10/2022
- EIN
- 63-6073648
Organization Overview
Green Pond Water System Inc is located in Greenpond, AL. The organization was established in 1970. 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 10/2022, Green Pond Water System Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Green Pond 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 10/2022, Green Pond Water System Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $1.6m during the year ending 10/2022. While expenses have increased by 0.8% 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
WATER UTILITY SYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES WATER SUPPLY ANDDISTRIBUTION SERVICES TO 2982 CUSTOMERS ASOF 10-31-2021
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morris Parker Vice President | OfficerTrustee | 1 | $0 |
Travis Wildman President | OfficerTrustee | 1 | $0 |
Erich Miller Secretary | OfficerTrustee | 1 | $0 |
Kenny Boyd Superintendent | Officer | 40 | $0 |
James Mullinax Board | Trustee | 1 | $0 |
Wayne Vining Board | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $547,676 |
| 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 | $547,676 |
| Total Program Service Revenue | $1,863,381 |
| Investment income | $8,738 |
| 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 | $2,441,284 |
| 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 | $407,717 |
| Pension plan accruals and contributions | $9,577 |
| Other employee benefits | $103,345 |
| Payroll taxes | $31,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,673 |
| Fees for services: Accounting | $9,000 |
| 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 | $25,625 |
| Information technology | $11,247 |
| Royalties | $0 |
| Occupancy | $117,184 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $70,260 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $258,507 |
| Insurance | $52,002 |
| All other expenses | $48,235 |
| Total functional expenses | $1,622,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $725,830 |
| Savings and temporary cash investments | $4,670,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,779 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $79,687 |
| Prepaid expenses and deferred charges | $29,998 |
| Net Land, buildings, and equipment | $6,133,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $84,690 |
| Other assets | $0 |
| Total assets | $11,894,432 |
| Accounts payable and accrued expenses | $53,842 |
| 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 | $4,652,904 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $291,989 |
| Total liabilities | $4,998,735 |
| Net assets without donor restrictions | $6,895,697 |
| 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 | $11,894,432 |
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