Marshall County Water Corporation
- Assets
- $23.2m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 13
- Location
- Madill, OK
- Founding
- 07/1975
- Data as of
- 06/2021
- EIN
- 73-0939020
Organization Overview
Marshall County Water Corporation is located in Madill, OK. The organization was established in 1975. 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 06/2021, Marshall County Water Corporation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshall County Water Corporation 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 06/2021, Marshall County Water Corporation generated $4.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $4.0m during the year ending 06/2021. While expenses have increased by 7.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION PROVIDES A WATERWORKS DISTRIBUTION SYSTEM FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WATER SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Bain Secretary/tr | OfficerTrustee | 1 | $0 |
Donnie Huffman Vice Chairma | OfficerTrustee | 1 | $0 |
Chris Webb Chairman | OfficerTrustee | 1 | $0 |
Jerry Eldridge Member | Trustee | 1 | $0 |
Thomas Herndon Member | Trustee | 1 | $0 |
Wendyl Parrish Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $290,931 |
| 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 | $290,931 |
| Total Program Service Revenue | $4,124,502 |
| Investment income | $13,825 |
| 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 | $4,429,258 |
| 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 | $653,807 |
| Pension plan accruals and contributions | $34,750 |
| Other employee benefits | $147,288 |
| Payroll taxes | $51,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,046 |
| Fees for services: Accounting | $30,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $174,811 |
| Advertising and promotion | $1,302 |
| Office expenses | $19,963 |
| Information technology | $87,498 |
| Royalties | $0 |
| Occupancy | $198,757 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $423,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $89,937 |
| All other expenses | $333,469 |
| Total functional expenses | $3,964,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,634,226 |
| Savings and temporary cash investments | $295,113 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $341,552 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $125,108 |
| Prepaid expenses and deferred charges | $80,872 |
| Net Land, buildings, and equipment | $19,730,616 |
| Investments—publicly traded securities | $5,220 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,212,707 |
| Accounts payable and accrued expenses | $176,355 |
| 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 | $10,529,179 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,705,534 |
| Net assets without donor restrictions | $12,212,060 |
| Net assets with donor restrictions | $295,113 |
| 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 | $23,212,707 |
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|---|---|---|
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Roosevelt County Electric Cooperative Incorporated Portales, NM | $65,511,753 | $18,141,245 |
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Lewis County Rural Electric Cooperative Association Lewistown, MO | $54,864,852 | $16,122,435 |
Consolidated Mutual Water Company Lakewood, CO | $221,800,692 | $15,225,271 |
Lyon-Coffey Electric Cooperative Inc Burlington, KS | $47,592,400 | $15,534,958 |
Ark Valley Electric Cooperative Assn Inc South Hutchinson, KS | $45,661,646 | $15,134,706 |
Columbus Electric Cooperative Inc Deming, NM | $51,291,020 | $15,018,624 |