Sturdivant-Progress Water Supply Corp
- Assets
- $1.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Mineral Wells, TX
- Founding
- 05/2000
- Data as of
- 12/2021
- EIN
- 75-1220118
Organization Overview
Sturdivant-Progress Water Supply Corp is located in Mineral Wells, TX. The organization was established in 2000. 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, Sturdivant-Progress Water Supply Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sturdivant-Progress Water Supply Corp 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, Sturdivant-Progress Water Supply Corp generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 3.3% 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
PROVIDE SAFE, POTABLE WATER AND SEWAGE SERVICES TO RESIDENTS SERVED BY STURDIVANT-PROGRESS WATER SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAFE, POTABLE WATER AND SEWAGE SERVICES TO RESIDENTS SERVED BY THE STURDIVANT-PROGRESS WATER SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Byrom Director | Trustee | 1 | $0 |
Jeff Smith Vice Preside | Trustee | 1 | $0 |
Mike Johnson Director | Trustee | 1 | $0 |
Scott Royal President | Trustee | 2 | $0 |
James Slattery Director | Trustee | 1 | $0 |
Penny Snow Secretary-Tr | Trustee | 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 | $1,142,367 |
| Investment income | $66 |
| 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 | $1,142,433 |
| 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 | $316,795 |
| Pension plan accruals and contributions | $13,962 |
| Other employee benefits | $40,812 |
| Payroll taxes | $22,743 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,741 |
| Advertising and promotion | $0 |
| Office expenses | $22,688 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,239 |
| Travel | $5,015 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,055 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,267 |
| Insurance | $16,789 |
| All other expenses | $60,244 |
| Total functional expenses | $1,071,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,832 |
| Savings and temporary cash investments | $93,391 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $101,703 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $109,022 |
| Prepaid expenses and deferred charges | $14,379 |
| Net Land, buildings, and equipment | $1,019,588 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,546,915 |
| Accounts payable and accrued expenses | $57,964 |
| 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 | $24,424 |
| Other liabilities | $0 |
| Total liabilities | $82,388 |
| 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 | $368,220 |
| Retained earnings, endowment, accumulated income, or other funds | $1,096,307 |
| Total liabilities and net assets/fund balances | $1,546,915 |
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