North Franklin Water Works Inc
- Assets
- $7.1m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 7
- Location
- Crowville, LA
- Founding
- Data as of
- 12/2023
- EIN
- 72-0743481
Organization Overview
North Franklin Water Works Inc is located in Crowville, LA. As of 12/2023, North Franklin Water Works Inc employed 7 individuals. North Franklin Water Works 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 12/2023, North Franklin Water Works Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 3.8% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RURAL WATER SYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER TO CUSTOMERS IN RURAL AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Banks Board Member | Trustee | $0 | |
Devon Goodman President | OfficerTrustee | $0 | |
Scotty Martin Board Member | Trustee | $0 | |
Derrick Parker Vice Preside | Trustee | $0 | |
Henry Till Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,199,698 |
| 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 | $1,199,698 |
| Total Program Service Revenue | $1,442,583 |
| Investment income | $5,695 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,676,441 |
| 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 | $342,180 |
| Pension plan accruals and contributions | $8,259 |
| Other employee benefits | $84,182 |
| Payroll taxes | $21,677 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,100 |
| Fees for services: Accounting | $6,000 |
| 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 | $0 |
| 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 | $156,961 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $313,889 |
| Insurance | $33,574 |
| All other expenses | $60,054 |
| Total functional expenses | $1,352,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,114,582 |
| Savings and temporary cash investments | $703,311 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,704 |
| 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 | $0 |
| Net Land, buildings, and equipment | $5,170,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,092,694 |
| Accounts payable and accrued expenses | $344,020 |
| 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 | $4,323,245 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $65,911 |
| Total liabilities | $4,733,176 |
| Net assets without donor restrictions | $2,044,227 |
| Net assets with donor restrictions | $315,291 |
| 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 | $7,092,694 |