Mountain Water Supply Corp
- Assets
- $3.7m
- Revenue
- $954.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Gatesville, TX
- Founding
- 10/1968
- Data as of
- 12/2023
- EIN
- 74-1593152
Organization Overview
Mountain Water Supply Corp is located in Gatesville, TX. The organization was established in 1968. 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, Mountain Water Supply Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mountain 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, Mountain Water Supply Corp generated $954.1k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $812.8k during the year ending 12/2023. While expenses have increased by 14.7% per year over the past 9 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
DISTRIBUTION OF WATER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTED WATER TO MEMBERS, INSTALLED WATER METERS AND MAINTAINED AND UPGRADED WATER LINES AS NEEDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric D Rockow Operator | 40 | $81,374 | |
Jacquelyn Knoblock Manager | 40 | $29,338 | |
Brittany Watson Office Manager | 40 | $24,118 | |
John M Featherston | 0 | $18,058 | |
Shelly Washburn | 0 | $15,723 | |
Adrian Burney | 0 | $612 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $62,574 |
| 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 | $62,574 |
| Total Program Service Revenue | $0 |
| Investment income | $35,671 |
| 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 | $855,903 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $954,148 |
| 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. | $134,830 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,005 |
| Pension plan accruals and contributions | $3,172 |
| Other employee benefits | $0 |
| Payroll taxes | $14,870 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,030 |
| Fees for services: Accounting | $2,030 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,060 |
| Advertising and promotion | $0 |
| Office expenses | $9,316 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $89,820 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $218,546 |
| Insurance | $17,147 |
| All other expenses | $27,160 |
| Total functional expenses | $812,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $571,188 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,140 |
| 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 | $6,146 |
| Net Land, buildings, and equipment | $3,067,875 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,643 |
| Total assets | $3,726,992 |
| Accounts payable and accrued expenses | $36,958 |
| 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 | $1,887,466 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,260 |
| Total liabilities | $1,935,684 |
| Net assets without donor restrictions | $1,791,308 |
| 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 | $3,726,992 |