Kipling Water Assn
- Assets
- $4.2m
- Revenue
- $853.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Dekalb, MS
- Founding
- 02/2001
- Data as of
- 06/2022
- EIN
- 64-0536284
Organization Overview
Kipling Water Assn is located in Dekalb, MS. The organization was established in 2001. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2022, Kipling Water Assn employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kipling Water Assn 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, Kipling Water Assn generated $853.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $595.4k during the year ending 06/2022. While expenses have increased by 0.3% per year over the past 6 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 CONSISTENT AND RELIABLE WATER SERVICE TO APPROXIMATELY 1,100 RURAL COMMUNITY WATER CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSISTENT AND RELIABLE WATER SERVICE TO APPROXIMATELY 1,100 RURAL COMMUNITY WATER CUSTOMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Westerfield President | Officer | 1 | $550 |
Willie Cole Director | Officer | $450 | |
Debra Mcrae Director | Officer | $450 | |
Steve Rawsom Director | Officer | $450 | |
Dewayne Hull Director | Officer | $400 | |
Lynn Legette Director | Officer | $100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $300,000 |
| 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 | $300,000 |
| Total Program Service Revenue | $545,245 |
| Investment income | $7,798 |
| 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 | $853,043 |
| 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. | $2,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,813 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,749 |
| Payroll taxes | $10,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $921 |
| Office expenses | $3,268 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,471 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,926 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,905 |
| Insurance | $28,446 |
| All other expenses | $33,968 |
| Total functional expenses | $595,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,563 |
| Savings and temporary cash investments | $1,219,066 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,063 |
| 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 | $3,750 |
| Net Land, buildings, and equipment | $2,826,768 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,049 |
| Total assets | $4,176,259 |
| Accounts payable and accrued expenses | $22,872 |
| 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 | $1,457,292 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,480,164 |
| 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 | $2,574,514 |
| Retained earnings, endowment, accumulated income, or other funds | $121,581 |
| Total liabilities and net assets/fund balances | $4,176,259 |