Lincoln Culinary Water Corporation is located in Tooele, UT. The organization was established in 1985. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln Culinary Water 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, Lincoln Culinary Water Corporation generated $180.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $63.5k during the year ending 12/2021. While expenses have increased by 7.0% 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
NOT FOR PROFIT ENTERPRISE ORGANIZED FOR THE PURPOSE OF PROVIDING CULINARY WATER TO THE COMMUNITY OF LINCOLN UTAH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1- THE CORPORATION ENGAGED IN SIGNIFICANT CAPITAL IMPROVEMENTS IN 2021 CONTRACTING, ENGINEERING AND BUILDING A NEW WELL. 2- THE CORPORATION TOOK ON ADDITIONAL DEBT SECURING A LOAN THROUGH US BANK (WIRE IN $1,417,282.36)) ASSETS AND LIABILITIES ADDED TO BALANCE SHEET 3- THE CORPORATION ALSO PAID DOWN PRINCIPLE ON OUTSTANDING LOANS 3F083 ($10,000 PRINCIPLE)
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Staci Peterson Secretary | Officer | 10 | $0 |
Andrew Boekweg Vice President | Officer | 10 | $0 |
Shayne Robinson President | Officer | 4 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $180,335 |
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 | $180,335 |
Total Program Service Revenue | $0 |
Investment income | $135 |
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 | $180,470 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $8,000 |
Fees for services: Legal | $1,270 |
Fees for services: Accounting | $1,860 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $27,692 |
Advertising and promotion | $0 |
Office expenses | $1,950 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $2,165 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $18,759 |
Payments to affiliates | $794 |
Depreciation, depletion, and amortization | $0 |
Insurance | $1,006 |
All other expenses | $0 |
Total functional expenses | $63,496 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $77,058 |
Savings and temporary cash investments | $134,461 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $3,759,791 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $3,971,310 |
Accounts payable and accrued expenses | $0 |
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 | $2,697,552 |
Other liabilities | $0 |
Total liabilities | $2,697,552 |
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 | $1,273,758 |
Total liabilities and net assets/fund balances | $3,971,310 |
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