Soso Community Water System Inc
- Assets
- $2.1m
- Revenue
- $342.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Soso, MS
- Founding
- 03/1967
- Data as of
- 12/2023
- EIN
- 64-0438709
Organization Overview
Soso Community Water System Inc is located in Soso, MS. The organization was established in 1967. 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, Soso Community Water System Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soso Community 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 12/2023, Soso Community Water System Inc generated $342.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $308.1k during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 9 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
THE MISSION OF THE ORGANIZATION IS TO PROVIDE QUALITY WATER SERVICES TO INDIVIDUALS/RESIDENTS THAT ARE ON THE SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE ORGANIZATION IS TO INSTALL, MAINTAIN, AND OPERATE A WATER SUPPLY SYSTEM.
TOTAL EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Adams Director | OfficerTrustee | $0 | |
Doug Coats Director | Trustee | $0 | |
Mike Moore Director | OfficerTrustee | $0 | |
Tim Powell Director | Trustee | $0 | |
Robert Shows President | OfficerTrustee | $0 | |
Eugene Smith Secretary/tr | Trustee | $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 | $324,170 |
| Investment income | $8,028 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,012 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $342,169 |
| 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 | $90,192 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $98 |
| Payroll taxes | $7,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,686 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,970 |
| Insurance | $0 |
| All other expenses | $20,414 |
| Total functional expenses | $308,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $414,471 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,014 |
| 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 | $13,365 |
| Net Land, buildings, and equipment | $1,649,497 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $246 |
| Total assets | $2,107,593 |
| Accounts payable and accrued expenses | $2,583 |
| 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 | $50,707 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,379 |
| Total liabilities | $64,669 |
| Net assets without donor restrictions | $0 |
| 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 | $2,042,924 |
| Total liabilities and net assets/fund balances | $2,107,593 |