Fort Lyon Canal Company
- Assets
- $20.3m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Las Animas, CO
- Founding
- 05/1924
- Data as of
- 10/2023
- EIN
- 84-0579583
Organization Overview
Fort Lyon Canal Company is located in Las Animas, CO. The organization was established in 1924. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 10/2023, Fort Lyon Canal Company employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Lyon Canal 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 10/2023, Fort Lyon Canal Company generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $3.1m during the year ending 10/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FOR THE STORAGE AND DISTRIBUTION OF IRRIGATION WATER FOR THE MUTUAL BENEFIT OF THE STOCKHOLDERS OF THE COMPANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING IRRIGATION WATER FOR LAND OWNED BY STOCKHOLDERS OF THE MUTUAL IRRIGATION COMPANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rex Davis President | OfficerTrustee | 3 | $10,572 |
Wesley Eck Vice President | OfficerTrustee | 2 | $21,261 |
Kim Siefkas Treasurer | OfficerTrustee | 2 | $6,306 |
Burt Heckman Secretary | OfficerTrustee | 2 | $4,974 |
Eddie Hall Director | Trustee | 2 | $4,438 |
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 | $3,101,624 |
| Investment income | $100,970 |
| 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 | $3,506,172 |
| 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. | $29,366 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $729,343 |
| Pension plan accruals and contributions | $17,480 |
| Other employee benefits | $142,556 |
| Payroll taxes | $60,905 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $139,066 |
| Fees for services: Accounting | $9,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $112,319 |
| Advertising and promotion | $0 |
| Office expenses | $12,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,432 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,633 |
| Interest | $140,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $520,163 |
| Insurance | $129,082 |
| All other expenses | $16,951 |
| Total functional expenses | $3,105,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,315 |
| Savings and temporary cash investments | $5,704,488 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $336,392 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $82,085 |
| Prepaid expenses and deferred charges | $85,772 |
| Net Land, buildings, and equipment | $14,036,722 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,252,774 |
| Accounts payable and accrued expenses | $252,362 |
| Grants payable | $0 |
| Deferred revenue | $36,573 |
| 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 | $8,743,395 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $65,954 |
| Total liabilities | $9,098,284 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $469,947 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $10,684,543 |
| Total liabilities and net assets/fund balances | $20,252,774 |