Eula Water Supply Corporation
- Assets
- $3.4m
- Revenue
- $852.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Clyde, TX
- Founding
- 06/1984
- Data as of
- 12/2022
- EIN
- 75-1462384
Organization Overview
Eula Water Supply Corporation is located in Clyde, TX. The organization was established in 1984. 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, Eula Water Supply Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eula 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, Eula Water Supply Corporation generated $852.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $550.7k during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 8 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
DEVOTED TO FURNISHING THE WATER SUPPLY TO RURAL RESIDENTS IN CLYDE, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLY WATER TO RURAL AREAS AROUND CLYDE, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Cowley Manager | 40 | $81,539 | |
Bryan Farmer President | OfficerTrustee | 1 | $0 |
Eddie Riley Secretary | OfficerTrustee | 1 | $0 |
George Jackson Vice President | OfficerTrustee | 1 | $0 |
Thomas Rock Director | Trustee | 1 | $0 |
Mike Holt 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 | $0 |
| Investment income | $3,801 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,808 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $674,518 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $852,153 |
| 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. | $81,539 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,799 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,239 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,165 |
| Fees for services: Accounting | $17,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8 |
| Office expenses | $0 |
| Information technology | $2,206 |
| 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 | $1,346 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $195,156 |
| Insurance | $14,963 |
| All other expenses | $34,412 |
| Total functional expenses | $550,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,159,455 |
| Savings and temporary cash investments | $501,015 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $162,099 |
| 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 | $10,490 |
| Net Land, buildings, and equipment | $1,519,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,352,501 |
| Accounts payable and accrued expenses | $70,013 |
| 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 | $4,144 |
| Total liabilities | $74,157 |
| Net assets without donor restrictions | $3,278,344 |
| 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 | $3,352,501 |
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