Kingsland Water Supply Corporation
- Assets
- $11.6m
- Revenue
- $4.9m
- Investments
- $1.4m
- Employees
- 17
- Location
- Kingsland, TX
- Founding
- 06/1972
- Data as of
- 09/2023
- EIN
- 74-1668746
Organization Overview
Kingsland Water Supply Corporation is located in Kingsland, 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 09/2023, Kingsland Water Supply Corporation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kingsland 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 09/2023, Kingsland Water Supply Corporation generated $4.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $3.7m during the year ending 09/2023. While expenses have increased by 5.5% per year over the past 8 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
POTABLE WATER DISTRIBUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAXPAYER COLLECTS AND TREATS RAW WATER AND THEN DISTRIBUTES AND SELLS POTABLE WATER TO APPROXIMATELY 3,700 CUSTOMERS IN THE KINGSLAND TEXAS AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danny Stone President | OfficerTrustee | 5 | $0 |
Thomas Jackson Director | Trustee | 1 | $0 |
Tim Pike Director | Trustee | 1 | $0 |
Will Gilliam Secretary | OfficerTrustee | 5 | $0 |
Tammy Manning Vice-President | OfficerTrustee | 5 | $0 |
Leonard Leinfelder General Mgr | Trustee | 40 | $106,391 |
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 | $1,417,999 |
| Noncash contributions included in lines 1a–1f | $1,417,999 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,417,999 |
| Total Program Service Revenue | $0 |
| Investment income | $29,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,409,014 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,891,072 |
| 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 | $934,543 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,036 |
| Payroll taxes | $66,244 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $555 |
| Fees for services: Accounting | $23,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,397 |
| Advertising and promotion | $0 |
| Office expenses | $131,130 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $93,515 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $79,823 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $544,944 |
| Insurance | $334,106 |
| All other expenses | $303,576 |
| Total functional expenses | $3,680,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $582,102 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $433,219 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $123,225 |
| Prepaid expenses and deferred charges | $46,716 |
| Net Land, buildings, and equipment | $9,019,478 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,392,939 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,826 |
| Total assets | $11,610,505 |
| Accounts payable and accrued expenses | $92,088 |
| 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 | $1,996,712 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $57,104 |
| Total liabilities | $2,145,904 |
| Net assets without donor restrictions | $0 |
| 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 | $6,396,375 |
| Retained earnings, endowment, accumulated income, or other funds | $3,068,226 |
| Total liabilities and net assets/fund balances | $11,610,505 |