Okatoma Water Association
- Assets
- $7.9m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 15
- Location
- Mize, MS
- Founding
- 05/2002
- Data as of
- 06/2022
- EIN
- 64-0470084
Organization Overview
Okatoma Water Association is located in Mize, MS. The organization was established in 2002. 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 06/2022, Okatoma Water Association employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Okatoma Water Association 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 06/2022, Okatoma Water Association generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 2.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A RURAL WATER SYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A RURAL WATER SYSTEM
OPERATION OF A RURAL WATER SYSTEM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Barnes Director | Trustee | $0 | |
Paul Cockrell Director | Trustee | $0 | |
Ethel Coleman Secretary | OfficerTrustee | $0 | |
Doyle Etheridge Director | Trustee | $0 | |
Glenn Harvey Director | Trustee | $0 | |
Henry Jones Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $6,900 |
| 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 | $1,724,270 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $460,059 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $92,160 |
| Payroll taxes | $35,728 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $487,052 |
| Advertising and promotion | $0 |
| Office expenses | $35,300 |
| 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 | $275,157 |
| Insurance | $52,964 |
| All other expenses | $0 |
| Total functional expenses | $1,451,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $737,738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $161,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $137,679 |
| Prepaid expenses and deferred charges | $13,584 |
| Investments—publicly traded securities | $3,030,502 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $219,869 |
| Total assets | $7,929,628 |
| Accounts payable and accrued expenses | $101,590 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $14,768 |
| Other liabilities | $219,321 |
| Total liabilities | $335,679 |
| Net assets without donor restrictions | $7,593,949 |
| 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 |
| Total liabilities and net assets/fund balances | $7,593,949 |