Bethesda Water Supply Corporation
- Assets
- $40.0m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Burleson, TX
- Founding
- 06/1966
- Data as of
- 12/2023
- EIN
- 75-1214680
Organization Overview
Bethesda Water Supply Corporation is located in Burleson, TX. The organization was established in 1966. 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 12/2023, Bethesda Water Supply Corporation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethesda 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 12/2023, Bethesda Water Supply Corporation generated $11.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $9.8m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 9 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
TO PROVIDE A POTABLE WATER SUPPLY TO OVER 10,100 MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED POTABLE WATER TO MEMBERS OF THE CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melvin Ables Director | Trustee | 0.3 | $0 |
Harold Moore Director-President | OfficerTrustee | 2 | $0 |
Frank Young Director | Trustee | 0.3 | $0 |
Bob Wolfe Director-Vice President | OfficerTrustee | 2 | $0 |
Grady Lewis Director - Sec/treas | OfficerTrustee | 0.3 | $0 |
Marianna Wilson Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Circle C Construction Construction/repairs | 12/30/23 | $257,435 |
Texas Water Products Inc Construction/repairs | 12/30/23 | $222,190 |
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 | $11,182,446 |
| Investment income | $359,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,894 |
| Net Rental Income | $70,658 |
| Net Gain/Loss on Asset Sales | $15,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,667,774 |
| 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 | $1,313,900 |
| Pension plan accruals and contributions | $161,695 |
| Other employee benefits | $362,460 |
| Payroll taxes | $95,013 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,925 |
| Fees for services: Accounting | $36,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,376 |
| Advertising and promotion | $8,144 |
| Office expenses | $17,203 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $203,088 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,518,057 |
| Insurance | $70,069 |
| All other expenses | $464,288 |
| Total functional expenses | $9,814,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$233,684 |
| Savings and temporary cash investments | $11,766,116 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $622,595 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,068 |
| Inventories for sale or use | $259,214 |
| Prepaid expenses and deferred charges | $11,498 |
| Net Land, buildings, and equipment | $27,204,770 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $330,505 |
| Total assets | $39,965,082 |
| Accounts payable and accrued expenses | $712,230 |
| 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 | $3,868,948 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,581,178 |
| Net assets without donor restrictions | $35,383,904 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $39,965,082 |