Shady Grove 2 Water Supply Corporation
- Assets
- $201.2k
- Revenue
- $139.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Sulphur Springs, TX
- Founding
- 01/1972
- Data as of
- 12/2022
- EIN
- 75-1252292
Organization Overview
Shady Grove 2 Water Supply Corporation is located in Sulphur Springs, TX. The organization was established in 1972. 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 12/2022, Shady Grove 2 Water Supply Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shady Grove 2 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 12/2022, Shady Grove 2 Water Supply Corporation generated $139.8k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $132.6k during the year ending 12/2022. While expenses have increased by 10.6% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CLEAN, QUALITY WATER TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION STRIVES TO PROVIDE CLEAN AND QUALITY WATER TO ITS MEMBERS IN RURAL HOPKINS COUNTY TEXAS AT AN AFFORDABLE PRICE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Martin Sec/treas | OfficerTrustee | 5 | $0 |
Morgan Anderson President | OfficerTrustee | 5 | $0 |
Kevin Mohl Vice Pres | OfficerTrustee | 5 | $0 |
Leslee Rawson Director | Trustee | 5 | $0 |
Bryan Mathes Director | Trustee | 5 | $0 |
Don Bailey Director | Trustee | 5 | $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 | $0 |
| Investment income | $1,309 |
| 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 | $138,488 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,797 |
| 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 | $30,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $945 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,908 |
| Office expenses | $2,269 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,328 |
| Travel | $7,880 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $242 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,756 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $132,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,511 |
| Savings and temporary cash investments | $0 |
| 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 | $48,630 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $62,090 |
| Other assets | $0 |
| Total assets | $201,231 |
| Accounts payable and accrued expenses | $1,514 |
| 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 | $0 |
| Total liabilities | $1,514 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,970 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $192,747 |
| Total liabilities and net assets/fund balances | $201,231 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Deep East Texas Electric Co-Operative Inc San Augustine, TX | $258,283,792 | $99,942,050 |
Upshur-Rural Electric Cooperative Corporation Gilmer, TX | $245,628,727 | $98,243,041 |
San Bernard Electric Cooperative Incorporated Bellville, TX | $290,497,219 | $97,543,303 |
Lea County Electric Cooperative Inc Lovington, NM | $232,536,118 | $95,597,033 |
Washington-St Tammany Electric Cooperative Inc 1570 Franklinton, LA | $266,667,290 | $97,380,073 |
Bandera Electric Cooperative Inc Bandera, TX | $290,540,608 | $89,188,257 |
Nueces Electric Cooperative Inc Robstown, TX | $212,095,793 | $88,707,765 |
Wood County Electric Cooperative Quitman, TX | $215,165,812 | $87,928,096 |
Lyntegar Electric Cooperative Inc Tahoka, TX | $280,091,329 | $89,254,823 |
Bowie-Cass Electric Cooperative Inc Douglassville, TX | $207,355,878 | $84,643,047 |
Craighead Electric Cooperative Corporation Jonesboro, AR | $310,856,675 | $82,491,659 |
Northeast Oklahoma Electric Cooperative Inc Vinita, OK | $249,522,381 | $85,761,419 |