Lincoln Water Supply Corp
- Assets
- $523.2k
- Revenue
- $377.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Lincoln, TX
- Founding
- 03/1983
- Data as of
- 09/2022
- EIN
- 74-1823206
Organization Overview
Lincoln Water Supply Corp is located in Lincoln, TX. The organization was established in 1983. 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 09/2022, Lincoln Water Supply Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln 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 09/2022, Lincoln Water Supply Corp generated $377.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $187.5k during the year ending 09/2022. While expenses have increased by 7.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ITS MEMBERS AN ADEQUATE SOURCE OF CLEAN AND SAFE WATER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TO ITS MEMBERS AN ADEQUATE SOURCE OF CLEAN AND SAFE WATER TO LOCAL RESIDENTS IN THE COMMUNITY OF LINCOLN, LEE COUNTY TEXAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Schimank Director | Trustee | 10 | $17,469 |
Robert Zoch President | OfficerTrustee | 1 | $0 |
Johnny Kieschnick Treasurer | OfficerTrustee | 2 | $0 |
Edward Markert Vice President | OfficerTrustee | 1 | $0 |
Fred Bud Hannes Secretary | OfficerTrustee | 2 | $0 |
Jarvis Boriack Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $209,000 |
| 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 | $209,000 |
| Total Program Service Revenue | $167,568 |
| Investment income | $461 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $99 |
| 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 | $377,128 |
| 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. | $17,469 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,650 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,512 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,090 |
| Travel | $8,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,196 |
| Insurance | $5,969 |
| All other expenses | $11,824 |
| Total functional expenses | $187,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $352,038 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,115 |
| 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 | $0 |
| Net Land, buildings, and equipment | $158,001 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $523,154 |
| Accounts payable and accrued expenses | $7,345 |
| 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 | $1,118 |
| Total liabilities | $8,463 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $514,691 |
| Total liabilities and net assets/fund balances | $523,154 |
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