Double Ponds Water Association
- Assets
- $5.0m
- Revenue
- $533.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Prentiss, MS
- Founding
- 05/1970
- Data as of
- 05/2022
- EIN
- 64-0478760
Organization Overview
Double Ponds Water Association is located in Prentiss, MS. 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 05/2022, Double Ponds Water Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Double Ponds 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 05/2022, Double Ponds Water Association generated $533.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $576.7k during the year ending 05/2022. While expenses have increased by 2.8% 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
PROVIDE WATER SERVICES TO MEMBERS OF THE ASSOCIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER SERVICES TO MEMBERS OF ASSOCIATION
PROVIDE WATER SERVICES TO MEMBERS OF ASSOCIATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Gholar Vice-Preside | OfficerTrustee | $0 | |
Tommy Walker President | OfficerTrustee | $0 | |
Calvin Graves Director | OfficerTrustee | $0 | |
Joycelyn Ragsdale Director | Trustee | $0 | |
Katy Walker Secretary | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,461 |
| 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 | $29,461 |
| Total Program Service Revenue | $499,210 |
| Investment income | $4,405 |
| 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 | $533,076 |
| 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 | $169,463 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,150 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,905 |
| 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 | $16,865 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,506 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $64,319 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $136,379 |
| Insurance | $23,904 |
| All other expenses | $9,075 |
| Total functional expenses | $576,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,275 |
| Savings and temporary cash investments | $67,459 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,160 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,224 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,506,855 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,425 |
| Total assets | $5,020,398 |
| Accounts payable and accrued expenses | $13,461 |
| 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 | $1,904,037 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $64,384 |
| Total liabilities | $1,981,882 |
| 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 | $15,310 |
| Retained earnings, endowment, accumulated income, or other funds | $3,023,206 |
| Total liabilities and net assets/fund balances | $5,020,398 |
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