West Leonard Water Supply Corp
- Assets
- $4.5m
- Revenue
- $735.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Leonard, TX
- Founding
- 01/1993
- Data as of
- 12/2021
- EIN
- 75-1924080
Organization Overview
West Leonard Water Supply Corp is located in Leonard, TX. The organization was established in 1993. 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, West Leonard Water Supply Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Leonard Water Supply Corp 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, West Leonard Water Supply Corp generated $735.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $590.9k during the year ending 12/2021. While expenses have increased by 8.9% 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
PROVIDE WATER FOR FARM AND RURAL DOMESTIC USE IN RURAL AREAS WEST OF LEONARD, TEXAS IN SOUTHERN FANNIN COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES WATER TO ITS MEMBERS/OWNERS FOR FARM AND DOMESTIC USE IN RURAL AREAS WEST OF LEONARD, TEXAS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mickey Mccarley President | OfficerTrustee | 0 | $0 |
Justin Minchey Vice President | OfficerTrustee | 0 | $0 |
Tammie Summers Secretary/treas | OfficerTrustee | 0 | $0 |
Mark Buchanan Director | Trustee | 0 | $0 |
Jerry Rushing Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,400 |
| 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 | $21,400 |
| Total Program Service Revenue | $679,764 |
| Investment income | $4,392 |
| 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 | $735,205 |
| 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 | $93,299 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,828 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,131 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $150 |
| Office expenses | $11,750 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,756 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $46,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,527 |
| Insurance | $0 |
| All other expenses | $31,632 |
| Total functional expenses | $590,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103 |
| Savings and temporary cash investments | $1,435,521 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $74,974 |
| 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 | $6,734 |
| Net Land, buildings, and equipment | $3,002,390 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,073 |
| Total assets | $4,528,795 |
| Accounts payable and accrued expenses | $105,948 |
| 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 | $2,407,276 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,513,224 |
| Net assets without donor restrictions | $2,015,571 |
| 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 | $4,528,795 |
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