Center Water Association Inc
- Assets
- $5.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Carriere, MS
- Founding
- 12/1996
- Data as of
- 06/2024
- EIN
- 64-0568321
Organization Overview
Center Water Association Inc is located in Carriere, MS. The organization was established in 1996. 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 06/2024, Center Water Association Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center 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 06/2024, Center Water Association Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $851.6k during the year ending 06/2024. While expenses have increased by 2.0% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SOURCE OF SAFE WATER AT COST TO MEMBERS AND MAINTAIN THE WELLS AND DISTRIBUTION LINES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CENTER WATER ASSOCIATION INC. PROVIDES A RELIABLE SOURCE OF WATER TO MEMBERS AT COST. THE ASSOCIATION MAINTAINS THE WELLS AND DISTRIBUTION SYSTEM LINES OF A SYSTEM SERVING APROXIMATLY 2439 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles M Tyson President | OfficerTrustee | 4 | $700 |
Jerry Selzer Vice President | OfficerTrustee | 4 | $600 |
Lane Pittman Trustee | Trustee | 2 | $550 |
James R Dossett Trustee | Trustee | 2 | $500 |
Terry Shaw Trustee | Trustee | 2 | $350 |
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 | $1,126,561 |
| Investment income | $52,636 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$56,696 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,122,501 |
| 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. | $2,700 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $273,737 |
| Pension plan accruals and contributions | $19,243 |
| Other employee benefits | $12,862 |
| Payroll taxes | $21,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,180 |
| Advertising and promotion | $0 |
| Office expenses | $4,513 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,448 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,682 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $262,495 |
| Insurance | $44,047 |
| All other expenses | $45,166 |
| Total functional expenses | $851,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $594,275 |
| Savings and temporary cash investments | $1,255,968 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $148,749 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $72,321 |
| Prepaid expenses and deferred charges | $43,152 |
| Net Land, buildings, and equipment | $2,961,260 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,983 |
| Total assets | $5,147,708 |
| Accounts payable and accrued expenses | $7,234 |
| 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 | $1,215,618 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $158,856 |
| Total liabilities | $1,381,708 |
| 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 | $3,766,000 |
| Total liabilities and net assets/fund balances | $5,147,708 |