Madera Valley Water Supply Corporation
- Assets
- $4.4m
- Revenue
- $805.4k
- Investments
- $4.3k
- Employees
- 9
- Location
- Verhalen, TX
- Founding
- 03/1972
- Data as of
- 12/2021
- EIN
- 74-1656362
Organization Overview
Madera Valley Water Supply Corporation is located in Verhalen, TX. The organization was established in 1972. 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 12/2021, Madera Valley Water Supply Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madera Valley Water Supply 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 12/2021, Madera Valley Water Supply Corporation generated $805.4k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $888.9k during the year ending 12/2021. 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
FURNISH A WATER SUPPLY FOR GENERAL FARM USE AND DOMESTIC PURPOSES TO INDIVIDUALS RESIDING IN THE RURAL COMMUNITY OF VERHALEN, TX AND THE SURROUNDING RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RURAL WATER SERVICE TO OVER 638 RESIDENTIAL ACCOUNTS AND 59 COMMERCIAL ACCOUNTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Huelster General Manager | Officer | 40 | $81,150 |
Meg Timmerman President | OfficerTrustee | 1 | $0 |
Steve Koehn Secretary | OfficerTrustee | 1 | $0 |
Jamie Weatherman Vice President | OfficerTrustee | 1 | $0 |
Sharon Oates Director | Trustee | 1 | $0 |
Michael Lee Director | Trustee | 1 | $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 | $805,146 |
| Investment income | $250 |
| 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 | $805,396 |
| 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. | $81,150 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,493 |
| Pension plan accruals and contributions | $14,477 |
| Other employee benefits | $38,301 |
| Payroll taxes | $16,952 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,000 |
| 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 | $17,389 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $64,880 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $816 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,777 |
| Insurance | $25,354 |
| All other expenses | $39,179 |
| Total functional expenses | $888,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,191,878 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,029 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,382 |
| Prepaid expenses and deferred charges | $14,985 |
| Net Land, buildings, and equipment | $3,102,835 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,264 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,396,373 |
| Accounts payable and accrued expenses | $54,516 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $54,516 |
| Net assets without donor restrictions | $4,341,857 |
| 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 | $4,396,373 |
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