Sheridan Water Supply Corporation
- Assets
- $2.3m
- Revenue
- $476.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Sheridan, TX
- Founding
- 07/1977
- Data as of
- 12/2022
- EIN
- 74-1892173
Organization Overview
Sheridan Water Supply Corporation is located in Sheridan, TX. The organization was established in 1977. 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 12/2022, Sheridan Water Supply Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheridan 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 12/2022, Sheridan Water Supply Corporation generated $476.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $482.6k during the year ending 12/2022. While expenses have increased by 9.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING PUBLIC WATER & SEWER SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING PUBLIC WATER SERVICE IN A RURAL COMMUNITY: SERVED 376 RESIDENTIAL USERS AND 43 COMMERCIAL USERS.
PROVIDING PUBLIC SEWER SERVICE IN A RURAL COMMUNITY: SERVED 179 RESIDENTIAL USERS AND 34 COMMERCIAL USERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Regena Williamson President | OfficerTrustee | 2 | $0 |
Allen Tengler Vice-President | OfficerTrustee | 1 | $0 |
Vernita Dopslauf Secretary-Treasurer | OfficerTrustee | 1 | $0 |
David Fuller Director | Trustee | 0.5 | $0 |
Franklin Walker Director | Trustee | 0.5 | $0 |
Misty Sanders Key Employee | Officer | 40 | $47,205 |
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 | $466,173 |
| Investment income | $260 |
| 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 | $9,919 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $476,352 |
| 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. | $125,668 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,510 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,326 |
| 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 | $9,310 |
| Information technology | $3,529 |
| Royalties | $0 |
| Occupancy | $35,373 |
| Travel | $1,047 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,598 |
| Interest | $38,291 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,975 |
| Insurance | $15,917 |
| All other expenses | $53,188 |
| Total functional expenses | $482,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,632 |
| Savings and temporary cash investments | $119,841 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $37,222 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,943,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,265,712 |
| Accounts payable and accrued expenses | $6 |
| 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 | $1,654,057 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,654,063 |
| 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 | $1,146,295 |
| Retained earnings, endowment, accumulated income, or other funds | -$534,646 |
| Total liabilities and net assets/fund balances | $2,265,712 |