Moffat Water Supply Corporation
- Assets
- $10.0m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Temple, TX
- Founding
- 04/1978
- Data as of
- 09/2023
- EIN
- 74-1937977
Organization Overview
Moffat Water Supply Corporation is located in Temple, TX. The organization was established in 1978. 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, Moffat Water Supply Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moffat 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, Moffat Water Supply Corporation generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $1.8m during the year ending 09/2023. While expenses have increased by 5.8% 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
PROVIDE POTABLE WATER UTILITY SERVICE TO ABOUT 1,747 RURAL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A DISTRIBUTION SYSTEM TO SUPPLY TREATED FRESH WATER TO ABOUT 1,747 RURAL MEMBERS.
PROVIDE A DISTRIBUTION SYSTEM TO SUPPLY TREATED FRESH WATER TO ABOUT 1,747 RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Bockhold Director | Trustee | 1 | $0 |
Paul Carr Director | Trustee | 1 | $0 |
Russel Coufal Acting Presi | OfficerTrustee | 1 | $0 |
Thomas Dewitt Mayfield Secretary/tr | 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 | $2,095,312 |
| Investment income | $107,792 |
| 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 | $2,203,104 |
| 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 | $320,194 |
| Pension plan accruals and contributions | $12,237 |
| Other employee benefits | $48,743 |
| Payroll taxes | $33,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,710 |
| Fees for services: Accounting | $10,575 |
| 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 | $23,407 |
| Information technology | $9,850 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,677 |
| Interest | $245,710 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $260,253 |
| Insurance | $23,639 |
| All other expenses | $12,905 |
| Total functional expenses | $1,809,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $512,691 |
| Savings and temporary cash investments | $3,976,316 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,786 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $49,972 |
| Prepaid expenses and deferred charges | $18,912 |
| Net Land, buildings, and equipment | $5,296,093 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $10,012,270 |
| Accounts payable and accrued expenses | $188,768 |
| 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 | $6,049,538 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,238,306 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $370,374 |
| Paid-in or capital surplus, or land, building, or equipment fund | $181,558 |
| Retained earnings, endowment, accumulated income, or other funds | $3,222,032 |
| Total liabilities and net assets/fund balances | $10,012,270 |