Mount Olive Water Association
- Assets
- $6.8m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Elkins, AR
- Founding
- 11/1983
- Data as of
- 02/2021
- EIN
- 71-0567766
Organization Overview
Mount Olive Water Association is located in Elkins, AR. The organization was established in 1983. 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 02/2021, Mount Olive Water Association employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Olive 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 02/2021, Mount Olive Water Association generated $1.8m 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 $1.8m during the year ending 02/2021. While expenses have increased by 1.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CLEAN WATER TO RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FRESH WATER TO OVER 2,200 MEMBERS IN RURAL AREAS OF WASHINGTON AND MADISON COUNTIES IN ARKANSAS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Wheeler President | OfficerTrustee | 1 | $0 |
Tom Unger Treasurer | OfficerTrustee | 1 | $0 |
Mike Stewart Secretary | OfficerTrustee | 1 | $0 |
Sonny Varnell Vice Preside | OfficerTrustee | 1 | $0 |
Todd Socia Director | Trustee | 1 | $0 |
Marla Walker Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $13,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,761,667 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,132 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $84,942 |
| Payroll taxes | $20,842 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $24,874 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,783 |
| Travel | $29,821 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,562 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $333,995 |
| Insurance | $44,644 |
| All other expenses | $0 |
| Total functional expenses | $1,772,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $579,302 |
| Savings and temporary cash investments | $936,065 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $170,945 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $138,915 |
| Prepaid expenses and deferred charges | $8,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,265 |
| Total assets | $6,783,390 |
| Accounts payable and accrued expenses | $103,612 |
| 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 | $1,793,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $239,226 |
| Total liabilities | $2,136,671 |
| 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 | $4,646,719 |
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