Sheridan Water Supply Corporation
- Assets
- $2.2m
- Revenue
- $329.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Sheridan, TX
- Founding
- 07/1977
- Data as of
- 12/2021
- 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 12/2021, Sheridan Water Supply Corporation employed 6 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 12/2021, Sheridan Water Supply Corporation generated $329.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $412.7k during the year ending 12/2021. While expenses have increased by 8.7% 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
2021
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 366 RESIDENTIAL USERS AND 28 COMMERCIAL USERS AS OF THE END OF THE CURRENT YEAR.
PROVIDING PUBLIC SEWER SERVICE IN A RURAL COMMUNITY: SERVED 180 RESIDENTIAL USERS AND 20 COMMERCIAL USERS AS OF THE END OF THE CURRENT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Beyette Key Employee | Officer | 40 | $66,908 |
Pamela Hinze Key Employee | Officer | 35 | $23,258 |
Misty Sanders Key Employee | Officer | 35 | $5,059 |
Allen Tengler Vice-President | OfficerTrustee | 1 | $0 |
Regena Williamson President | OfficerTrustee | 2 | $0 |
Vernita Dopslauf Secretary-Treasurer | OfficerTrustee | 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 | $329,576 |
| Investment income | $190 |
| 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 | $329,766 |
| 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. | $95,225 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,443 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,067 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,691 |
| 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 | $11,496 |
| Information technology | $2,548 |
| Royalties | $0 |
| Occupancy | $31,554 |
| Travel | $262 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,053 |
| Interest | $39,050 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,703 |
| Insurance | $15,606 |
| All other expenses | $38,577 |
| Total functional expenses | $412,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,370 |
| Savings and temporary cash investments | $134,827 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $168 |
| 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 | $755,256 |
| Net Land, buildings, and equipment | $1,252,206 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,235,827 |
| Accounts payable and accrued expenses | $114 |
| 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 | $1,646,202 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,646,316 |
| 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 | $1,143,195 |
| Retained earnings, endowment, accumulated income, or other funds | -$553,684 |
| Total liabilities and net assets/fund balances | $2,235,827 |
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