Southwest Lauderdale Water Association Inc
- Assets
- $7.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Meridian, MS
- Founding
- 03/2003
- Data as of
- 03/2022
- EIN
- 64-0664961
Organization Overview
Southwest Lauderdale Water Association Inc is located in Meridian, MS. The organization was established in 2003. 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 03/2022, Southwest Lauderdale Water Association Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Lauderdale 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 03/2022, Southwest Lauderdale Water Association Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $820.9k during the year ending 03/2022. While expenses have increased by 4.8% 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 QUALITY WATER TO RURAL AREAS OF LAUDERDALE CO., MISSISSIPPI
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE QUALITY WATER TO RURAL AREAS IN LAUDERDALE CO, MISSISSIPPI
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Collins Secretary/treasurer | OfficerTrustee | 1 | $3,900 |
Sonny Turnage President | OfficerTrustee | 1 | $3,900 |
Dot Vance Vice President | OfficerTrustee | 1 | $3,900 |
Glen Bates Director | Trustee | 1 | $2,100 |
Billy H Harris Director | Trustee | 1 | $2,100 |
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 | $1,168,964 |
| Investment income | $9,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,003 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,197,114 |
| 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 | $173,825 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,465 |
| Payroll taxes | $13,748 |
| Fees for services: Management | $15,900 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,197 |
| 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 | $11,524 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,919 |
| Travel | $4,900 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $79,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $201,648 |
| Insurance | $20,135 |
| All other expenses | $25,110 |
| Total functional expenses | $820,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $615,460 |
| Savings and temporary cash investments | $754,437 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,417 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $43,631 |
| Prepaid expenses and deferred charges | $6,062 |
| Net Land, buildings, and equipment | $5,819,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,262 |
| Total assets | $7,343,425 |
| Accounts payable and accrued expenses | $22,956 |
| 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 | $3,479,712 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $38,372 |
| Total liabilities | $3,541,040 |
| Net assets without donor restrictions | $3,350,896 |
| Net assets with donor restrictions | $451,489 |
| 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 | $7,343,425 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pioneer Electric Cooperative Inc Greenville, AL | $91,310,213 | $29,119,242 |
Dixie Community Utility Association Hattiesburg, MS | $4,284,308 | $1,153,354 |
Hamilton Water District Inc Hamilton, MS | $4,106,843 | $887,369 |
Southwest Lauderdale Water Association Inc Meridian, MS | $7,343,425 | $1,197,114 |
Better Waterworks Inc Swartz, LA | $3,539,567 | $485,708 |
Yokena Jeff Davis Water District Inc Vicksburg, MS | $1,956,064 | $783,016 |
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Sterrett-Vandiver Water System Inc Sterrett, AL | $2,343,775 | $716,706 |
Big V Water Association Booneville, MS | $4,893,512 | $629,362 |
Kipling Water Assn Dekalb, MS | $3,891,971 | $498,208 |
Northeast Perry County Utility Association Richton, MS | $2,850,612 | $553,065 |
N-E-W Carroll Water Association Kilbourne, LA | $981,756 | $568,672 |