Lake Reservoir Company is located in Payette, ID. The organization was established in 1945. 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, Lake Reservoir Company employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Reservoir Company 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, Lake Reservoir Company generated $52.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $81.6k during the year ending 12/2022. 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
TO PROVIDE MUTUAL IRRIGATION COMPANY SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A MUTUAL IRRIGATION COMPANY VIRTUALLY ALL EXPENSES ARE INCURRED FOR THE DISTRIBUTION OF WATER TO MEMBERS AND ARE RELATED TO ITS EXEMPT PURPOSE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dennis Ujiiye President | OfficerTrustee | $0 | |
Korth Elliott Vice Preside | OfficerTrustee | $0 | |
John Van Beek Director | Trustee | $0 | |
Chad Henggeler Director | Trustee | $0 | |
Ed Parsons Director | Trustee | $0 | |
Casey Odette Director | Trustee | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $52,516 |
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 | $52,516 |
Total Program Service Revenue | $0 |
Investment income | $14 |
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 | $52,642 |
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 | $15,585 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $1,871 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,520 |
Fees for services: Accounting | $750 |
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 | $5,470 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,570 |
Travel | $4,989 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $5,391 |
All other expenses | $0 |
Total functional expenses | $81,584 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $5,706 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | -$7,008 |
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 | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $2,194,413 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,193,111 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Net assets without donor restrictions | $2,193,111 |
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 | $2,193,111 |
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Summit Water Distribution Company Park City, UT | $15,374,227 | $6,703,957 |
Idaho County Light & Power Cooperative Association Inc Highwa Grangeville, ID | $19,684,328 | $7,493,307 |
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Marias River Electric Cooperative Inc Shelby, MT | $18,173,914 | $7,549,069 |
Salmon River Electric Cooperative Inc Challis, ID | $19,095,369 | $7,043,358 |
Southeast Electric Cooperative Inc Ekalaka, MT | $22,253,929 | $7,030,153 |