Swift Water Supply Corporation
- Assets
- $1.9m
- Revenue
- $560.9k
- Investments
- $0.0
- Employees
- 8
- Location
- Nacogdoches, TX
- Founding
- 01/1967
- Data as of
- 12/2021
- EIN
- 75-1234920
Organization Overview
Swift Water Supply Corporation is located in Nacogdoches, TX. The organization was established in 1967. 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, Swift Water Supply Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swift 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, Swift Water Supply Corporation generated $560.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $543.8k during the year ending 12/2021. While expenses have increased by 5.3% 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
THE MISSION OF THE WATER SUPPLY IS TO PROVIDE A CLEAN AND SAFE SUPPLY OF WATER TO A GROWING RURAL AREA OF NACOGDOCHES COUNTY, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER SALES TO APPROXIMATELY 825 MEMBERS IN A RURAL AREA OF NACOGDOCHES COUNTY, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Hughes President | OfficerTrustee | 3 | $0 |
Craig Vose Secretary-Tr | OfficerTrustee | 2 | $0 |
Mike Rawson Director | OfficerTrustee | 2 | $0 |
Teresa Weaver Director | OfficerTrustee | 2 | $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 | $559,826 |
| Investment income | $1,087 |
| 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 | $560,913 |
| 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 | $147,443 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,662 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,300 |
| 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 | $15,483 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,955 |
| Insurance | $12,221 |
| All other expenses | $11,492 |
| Total functional expenses | $543,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,637 |
| Savings and temporary cash investments | $190,697 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,337 |
| 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 | $1,647 |
| Net Land, buildings, and equipment | $1,485,904 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $261 |
| Total assets | $1,930,483 |
| Accounts payable and accrued expenses | $11,886 |
| 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 | $0 |
| Other liabilities | $86,650 |
| Total liabilities | $98,536 |
| 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 | $1,831,947 |
| Total liabilities and net assets/fund balances | $1,930,483 |
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