Princeton-Tulip Water Assoc

The information for Princeton-Tulip Water Assoc is as of the organization's most recent filing in December '20. This organization is located in Leola, AR. It has been in existence for 21 years, following its founding in 1999.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Princeton-Tulip Water Assoc's NTEE code is S99. The "S" tells us that the organization is classified along with Community Improvement & Capacity Building. The "99" tells us that the major purpose of the organization is unclear enough that a more specific code cannot be accurately assigned. The NTEE describes organizations with this code as providing community improvement and capacity building services. The organization is also classified as a 501(c)(3) organization, engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work. The mission of the Princeton-Tulip Water Assoc is to provide water to residents and businesses in the local, rural area of Leola, Arkansas.

Program Areas

The organization's general fund is responsible for providing water to the rural areas of Tulip and Princeton, Arkansas. This program area ensures that these communities have access to clean and reliable water sources.

Board Governance

The Princeton-Tulip Water Assoc appears to be well-governed based on the information provided. The organization has a total of 7 voting members, all of whom are independent. This indicates a diverse and unbiased decision-making process within the board. Additionally, the fact that potential conflicts of interest do not exist further strengthens the organization's governance. It is also positive to note that both board meetings and committee meetings are documented. This suggests transparency and accountability in the organization's decision-making processes. Furthermore, the organization provides copies of the 990 to the board prior to filing, indicating a commitment to financial transparency. However, there are some areas where the Princeton-Tulip Water Assoc could improve its governance. The organization does not have a conflict of interest policy or a written whistleblower policy, which are important mechanisms for addressing and preventing potential ethical issues. Additionally, the absence of a document retention policy raises concerns about the organization's ability to maintain and protect important records. Overall, while the Princeton-Tulip Water Assoc demonstrates several positive governance practices, there are areas where it could enhance its policies and procedures to further strengthen its governance framework.

Organization Growth

The nonprofit organization, Princeton-Tulip Water Assoc, has experienced growth over the given time period. Program service revenue increased from $195.3K in 2015 to $231.2K in 2020. Additionally, investment income increased from $894 in 2015 to $1.8K in 2020. The total revenue also saw an increase from $196.2K in 2015 to $232.9K in 2020. However, it is worth noting that total expenses also increased from $234.2K in 2015 to $255.0K in 2020. Despite the increase in expenses, the overall growth in revenue suggests that the nonprofit organization has grown over the given time period.