Nesbit Water Association Inc
- Assets
- $9.7m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Nesbit, MS
- Founding
- 11/1967
- Data as of
- 09/2024
- EIN
- 64-0439565
Organization Overview
Nesbit Water Association Inc is located in Nesbit, 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 09/2024, Nesbit Water Association Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nesbit Water Association 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 09/2024, Nesbit Water Association Inc generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $947.2k during the year ending 09/2024. While expenses have increased by 5.5% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE WATER TO ASSOCIATION MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER TO ASSOCIATION MEMBERS.
PROVIDE WATER TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rochelle Cox Office Manag | Trustee | $0 | |
Tommy Collins Director | Trustee | 1 | $0 |
Perry Davis Director | Trustee | 1 | $0 |
Wilson Richmond Jr Director | Trustee | $0 | |
Randall Barnes Secy/treas | Officer | 1 | $0 |
David Mark Harris President | Officer | 1 | $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 | $3,338,486 |
| Investment income | $31,751 |
| 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 | $3,370,237 |
| 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 | $355,550 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,980 |
| Advertising and promotion | $0 |
| Office expenses | $29,641 |
| 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 | $3,090 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $177,941 |
| Insurance | $17,503 |
| All other expenses | $0 |
| Total functional expenses | $947,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,914,626 |
| Savings and temporary cash investments | $565,142 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,540 |
| 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 | $8,702 |
| Net Land, buildings, and equipment | $7,073,265 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,659,275 |
| Accounts payable and accrued expenses | $4,668 |
| 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 | $1,104,745 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $247,117 |
| Total liabilities | $1,356,530 |
| Net assets without donor restrictions | $8,302,745 |
| 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 | $9,659,275 |