River Acres Water Supply Corp
- Assets
- $6.2m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Robstown, TX
- Founding
- 11/1966
- Data as of
- 12/2023
- EIN
- 74-1550087
Organization Overview
River Acres Water Supply Corp is located in Robstown, TX. The organization was established in 1966. 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 12/2023, River Acres Water Supply Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. River Acres Water Supply Corp 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 12/2023, River Acres Water Supply Corp generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 9.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SALE AND DISTRIBUTION OF TREATED WATER TO THE RIVER ACRES COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPLIES POTABLE WATER TO MEMBERS AND MAINTAINS THE SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Wishard President | OfficerTrustee | $0 | |
John Fernan Vice Preside | OfficerTrustee | $0 | |
Janine Pruski Sec / Treas | OfficerTrustee | $0 | |
Ronald Hellberg Director | Trustee | $0 | |
Jeff Holley Director | Trustee | $0 | |
Michael Olszewski Director | Trustee | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,239,187 |
| Investment income | $4,820 |
| 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 | $1,296,499 |
| 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 | $84,301 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,150 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,256 |
| Fees for services: Accounting | $17,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,708 |
| Advertising and promotion | $54 |
| Office expenses | $20,381 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,998 |
| Travel | $5,717 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $146,049 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $237,141 |
| Insurance | $30,503 |
| All other expenses | $8,834 |
| Total functional expenses | $1,264,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,901 |
| Savings and temporary cash investments | $250,540 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,803 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $22,548 |
| Prepaid expenses and deferred charges | $20,040 |
| Net Land, buildings, and equipment | $4,671,281 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $953,288 |
| Total assets | $6,212,401 |
| Accounts payable and accrued expenses | $14,140 |
| 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 | $3,232,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,886 |
| Total liabilities | $3,300,826 |
| Net assets without donor restrictions | $2,665,855 |
| Net assets with donor restrictions | $245,720 |
| 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 | $6,212,401 |