Savoy Swords Water System Inc
- Assets
- $2.6m
- Revenue
- $993.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Eunice, LA
- Founding
- 04/1983
- Data as of
- 06/2022
- EIN
- 72-0860739
Organization Overview
Savoy Swords Water System Inc is located in Eunice, LA. 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 06/2022, Savoy Swords Water System Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Savoy Swords Water System 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 06/2022, Savoy Swords Water System Inc generated $993.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $978.5k during the year ending 06/2022. While expenses have increased by 1.6% 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 WATER UTILITY SERVICE TO MEMBERS IN THE SAVOY-SWORDS RURAL AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER TO THE RURAL AREAS OF SAVOY, SWORDS, RICHARD, CHURCH POINT, AND MOWATA. THE SYSTEM SERVES APPROXIMATELY 2400 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Darbonne Secretary | OfficerTrustee | 1 | $0 |
Patrick Prather President | OfficerTrustee | 4 | $0 |
Merrick Aguillard Treasurer | OfficerTrustee | 1 | $0 |
Blaise Prather Board Member | Trustee | 1 | $0 |
Chester Wimberly Director | Trustee | 1 | $0 |
Frank Darbonne Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,650 |
| 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 | $4,650 |
| Total Program Service Revenue | $987,719 |
| Investment income | $1,542 |
| 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 | $993,911 |
| 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 | $328,997 |
| Pension plan accruals and contributions | $8,852 |
| Other employee benefits | $51,253 |
| Payroll taxes | $25,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,100 |
| Fees for services: Accounting | $12,785 |
| 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 | $20,346 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,920 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,213 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $149,872 |
| Insurance | $41,709 |
| All other expenses | $52,428 |
| Total functional expenses | $978,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,767 |
| Savings and temporary cash investments | $292,804 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $133,201 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $58,975 |
| Prepaid expenses and deferred charges | $16,463 |
| Net Land, buildings, and equipment | $2,058,831 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,605,041 |
| Accounts payable and accrued expenses | $64,795 |
| 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 | $1,028,638 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,093,433 |
| Net assets without donor restrictions | $1,311,783 |
| Net assets with donor restrictions | $199,825 |
| 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 | $2,605,041 |
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