Marshall County Water Corporation
- Assets
- $23.2m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 15
- Location
- Madill, OK
- Founding
- 07/1975
- Data as of
- 06/2023
- 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 06/2023, Marshall County Water Corporation employed 15 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 06/2023, Marshall County Water Corporation generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $4.8m during the year ending 06/2023. While expenses have increased by 13.3% per year over the past 5 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
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 |
|---|---|---|---|
Jerry Eldridge Member | Trustee | $0 | |
Thomas Herndon Vice Chairma | OfficerTrustee | $0 | |
Donnie Huffman Member | Trustee | $0 | |
William Macon Member | Trustee | $0 | |
Wendyl Parrish Member | Trustee | $0 | |
Jay Porter Chairman | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $423,260 |
| 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 | $423,260 |
| Total Program Service Revenue | $5,258,009 |
| Investment income | $51,362 |
| 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 | $5,732,631 |
| 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 | $749,128 |
| Pension plan accruals and contributions | $33,275 |
| Other employee benefits | $135,586 |
| Payroll taxes | $61,227 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,931 |
| Fees for services: Accounting | $14,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $101,956 |
| Advertising and promotion | $606 |
| Office expenses | $77,055 |
| Information technology | $143,330 |
| Royalties | $0 |
| Occupancy | $252,845 |
| Travel | $539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $266,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $91,710 |
| All other expenses | $336,631 |
| Total functional expenses | $4,799,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,973,628 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $460,063 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $282,900 |
| Prepaid expenses and deferred charges | $86,972 |
| Net Land, buildings, and equipment | $19,386,153 |
| Investments—publicly traded securities | $5,220 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,194,936 |
| Accounts payable and accrued expenses | $228,488 |
| Grants payable | $0 |
| Deferred revenue | $25,586 |
| 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 | $8,427,456 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,681,530 |
| Net assets without donor restrictions | $14,513,406 |
| Net assets with donor restrictions | $0 |
| 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 | $23,194,936 |