Ramey Water Supply Corporation
- Assets
- $5.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Mineola, TX
- Founding
- 11/1977
- Data as of
- 12/2021
- EIN
- 75-1394306
Organization Overview
Ramey Water Supply Corporation is located in Mineola, TX. The organization was established in 1977. 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, Ramey Water Supply Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ramey 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, Ramey Water Supply Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 10.9% 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
PROVIDING WATER SERVICES TO THE RURAL AREAS NORTH AND WEST OF THE CITY OF MINEOLA, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED WATER SERVICES TO THE RURAL AREAS NORTH AND WEST OF MINEOLA, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Donnelly Secretary | OfficerTrustee | 1 | $0 |
Robert Spann President | OfficerTrustee | 2 | $0 |
Waymon Ragsdale Vice President | OfficerTrustee | 1 | $0 |
Earl Routh Director | Trustee | 1 | $0 |
Silvia Reyes Director | Trustee | 1 | $0 |
Joe Daniels Director | 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 | $1,471,945 |
| Investment income | $197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$655 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,471,487 |
| 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 | $408,539 |
| Pension plan accruals and contributions | $10,160 |
| Other employee benefits | $87,716 |
| Payroll taxes | $31,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,416 |
| Fees for services: Accounting | $17,600 |
| 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 | $16,347 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,708 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,950 |
| Interest | $138,295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $287,095 |
| Insurance | $37,979 |
| All other expenses | $78,603 |
| Total functional expenses | $1,431,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $238,267 |
| Savings and temporary cash investments | $180,819 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,285 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $93,301 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,404,050 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $878 |
| Total assets | $5,009,600 |
| Accounts payable and accrued expenses | $14,846 |
| 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 | $3,068,876 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,083,722 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $166,191 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,759,687 |
| Total liabilities and net assets/fund balances | $5,009,600 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Aqua Water Supply Corporation Bastrop, TX | $136,381,619 | $28,670,097 |
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Columbus Electric Cooperative Inc Deming, NM | $51,291,020 | $15,018,624 |
Texas Reliability Entity Inc Austin, TX | $5,509,609 | $14,208,096 |
Coleman County Electric Cooperative Inc Coleman, TX | $33,830,324 | $14,379,363 |
Fort Belknap Electric Cooperative Inc Olney, TX | $40,346,904 | $13,174,182 |
Mora-San Miguel Electric Cooperative Inc Mora, NM | $28,478,652 | $12,852,709 |
Ashley-Chicot Electric Cooperative Inc Hamburg, AR | $39,523,502 | $11,933,884 |
J-A-C Electric Cooperative Inc Henrietta, TX | $27,594,358 | $11,304,543 |
Sharyland Water Supply Corporation Alton, TX | $110,187,216 | $13,299,506 |
Farmers Electric Cooperative Corporation Newport, AR | $38,614,201 | $11,561,082 |