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.
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 |
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 |