Water Association Inc Monterey
- Assets
- $1.9m
- Revenue
- $436.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Florence, MS
- Founding
- 09/1968
- Data as of
- 06/2021
- EIN
- 64-6038011
Organization Overview
Water Association Inc Monterey is located in Florence, MS. The organization was established in 1968. 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 06/2021, Water Association Inc Monterey employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Water Association Inc Monterey 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 06/2021, Water Association Inc Monterey generated $436.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $432.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF RURAL WATER SYSTEM FOR RESIDENTIAL AND COMMERCIAL CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DELIVERY OF WATER SERVICES TO THE RESIDENTS OF THE MONTEREY COMMUNITY IN RURAL RANKIN COUNTY, MISSISSIPPI.
TO HELP FUND THE MONTEREY VOLUNTEER FIRE DEPARTMENT, AN NON-PROFIT TAX EXEMPT ORGANIZATION.
DELIVERY OF WATER SERVICES TO THE RESIDENTS OF THE MONTEREY COMMUNITY IN RURAL RANKIN COUNTY, MISSISSIPPI.
TO HELP FUND THE MONTEREY VOLUNTEER FIRE DEPARTMENT, AN NON-PROFIT TAX EXEMPT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Tillman President / | OfficerTrustee | 5 | $4,940 |
Rachel Dusenbery Secretary / | OfficerTrustee | $1,900 | |
Brian Jolly Trustee / Di | Trustee | $1,800 | |
Raymond Thornton Vice Pres / | OfficerTrustee | $1,720 | |
Lonnie Rorie Trustee / Di | Trustee | $1,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $1,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $436,246 |
| 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. | $11,910 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,651 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,610 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,516 |
| Fees for services: Accounting | $4,975 |
| 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 | $20,171 |
| 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 | $10,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,719 |
| Insurance | $11,604 |
| All other expenses | $0 |
| Total functional expenses | $432,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,581 |
| Savings and temporary cash investments | $349,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,012 |
| 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 | $6,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $544 |
| Total assets | $1,868,506 |
| Accounts payable and accrued expenses | $10,698 |
| 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 | $505,483 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $99,189 |
| Total liabilities | $615,370 |
| 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 |
| Total liabilities and net assets/fund balances | $1,253,136 |
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