Sharon Water Supply Corporation
- Assets
- $5.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Winnsboro, TX
- Founding
- 06/1985
- Data as of
- 12/2021
- EIN
- 75-1640781
Organization Overview
Sharon Water Supply Corporation is located in Winnsboro, TX. The organization was established in 1985. 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, Sharon Water Supply Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sharon 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, Sharon Water Supply Corporation generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 4.2% 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
TO PROVIDE POTABLE WATER TO ITS MEMBERS LOCATED IN NORTHEAST TEXAS NEAR WINNSBORO
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY EXISTS TO PROVIDE POTABLE WATER TO MEMBERS IN ITS DISTRIBUTION AREA OF NORTHEAST TEXAS NEAR WINNSBORO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lebarron Vice President | OfficerTrustee | 2 | $0 |
Bennie Cowser President | OfficerTrustee | 4 | $0 |
Hunter Hutto Sectreasurer | OfficerTrustee | 2 | $0 |
Richard Brewer Director | Trustee | 1 | $0 |
Jeff Zimmerman Director | Trustee | 1 | $0 |
Bobby Helpinstill 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 | $1,927,186 |
| Investment income | $305 |
| 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 | $1,927,491 |
| 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 | $599,791 |
| Pension plan accruals and contributions | $32,090 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,412 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,018 |
| Advertising and promotion | $1,777 |
| Office expenses | $66,039 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $149,915 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,296 |
| Interest | $84,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $459,058 |
| Insurance | $266,491 |
| All other expenses | $22,698 |
| Total functional expenses | $2,065,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $767,663 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $222,918 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $185,441 |
| Prepaid expenses and deferred charges | $66,609 |
| Net Land, buildings, and equipment | $4,242,620 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,485,251 |
| Accounts payable and accrued expenses | $87,818 |
| 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 | $1,666,683 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $815,439 |
| Total liabilities | $2,569,940 |
| 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 | $2,915,311 |
| Total liabilities and net assets/fund balances | $5,485,251 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aqua Water Supply Corporation Bastrop, TX | $136,381,619 | $28,670,097 |
Roosevelt County Electric Cooperative Incorporated Portales, NM | $65,511,753 | $18,141,245 |
City Corporation Russellville, AR | $192,508,552 | $18,660,828 |
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 |