Rural Franklinton Water Cooperative
- Assets
- $1.5m
- Revenue
- $647.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Franklinton, LA
- Founding
- 06/2001
- Data as of
- 12/2022
- EIN
- 72-1029733
Organization Overview
Rural Franklinton Water Cooperative is located in Franklinton, LA. The organization was established in 2001. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2022, Rural Franklinton Water Cooperative employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Franklinton Water Cooperative 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 12/2022, Rural Franklinton Water Cooperative generated $647.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $661.8k during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 8 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
TO OPERATE A PRIVATE WATER SYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE CORPORATION IS TO CONSTRUCT, MAINTAIN, AND OPERATE A PRIVATE WATER SYSTEM FOR THE MUTUAL BENEFIT OF ITS MEMBERS. IN 2022, THERE WERE APPROXIMATELY 1,200 CUSTOMERS/MEMBERS RECEIVING WATER SERVICE IN THE RURAL AREA AROUND FRANKLINTON, LA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lenward Thompson President | OfficerTrustee | 1 | $2,700 |
Lb Rogers Vice President | OfficerTrustee | 1 | $1,700 |
Desmond Smith Secretary/treasurer | OfficerTrustee | 1 | $1,700 |
Clifford Jefferson Member | Trustee | 1 | $1,700 |
Reginald Mcmasters Member | Trustee | 1 | $1,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $523 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $523 |
| Total Program Service Revenue | $643,602 |
| Investment income | $7 |
| 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 | $647,013 |
| 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. | $9,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,769 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,562 |
| Payroll taxes | $21,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| 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 | $17,847 |
| Information technology | $9,868 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $31,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,404 |
| Insurance | $59,601 |
| All other expenses | $48,108 |
| Total functional expenses | $661,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,363 |
| Savings and temporary cash investments | $219,413 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $49,280 |
| 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 | $745 |
| Net Land, buildings, and equipment | $1,061,471 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,521,272 |
| Accounts payable and accrued expenses | $61,446 |
| 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 | $798,475 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $859,921 |
| Net assets without donor restrictions | $474,463 |
| Net assets with donor restrictions | $186,888 |
| 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 | $1,521,272 |