Draper Irrigation Co
- Assets
- $75.9m
- Revenue
- $8.7m
- Investments
- $738.1k
- Employees
- 0
- Location
- Draper, UT
- Founding
- 04/1921
- Data as of
- 12/2023
- EIN
- 87-0215969
Organization Overview
Draper Irrigation Co is located in Draper, UT. The organization was established in 1921. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Draper Irrigation Co 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 12/2023, Draper Irrigation Co generated $8.7m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $8.1m during the year ending 12/2023. 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
MUTUAL DITCH OR IRRIGATION COMPANY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE CULINARY AND IRRIGATION WATER TO SHAREHOLDERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Greenwood President | OfficerTrustee | 1 | $0 |
Dale Smith Vice President | OfficerTrustee | 2 | $0 |
Greg Matis Secretary | OfficerTrustee | 1 | $0 |
Kent Ware Director | Trustee | 1 | $0 |
Ryan Daw Director | Trustee | 1 | $0 |
Stephen Tripp Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,230 |
| 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 | $30,230 |
| Total Program Service Revenue | $8,640,168 |
| Investment income | $0 |
| 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 | $8,719,136 |
| 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 | $1,602,842 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $839,378 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $399,660 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,914 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $68,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,362,485 |
| Insurance | $0 |
| All other expenses | $299,520 |
| Total functional expenses | $8,127,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,127 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $435,607 |
| 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 | $69,769,815 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $738,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,001,504 |
| Total assets | $75,947,153 |
| Accounts payable and accrued expenses | $101,835 |
| 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 | $6,000,673 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,714 |
| Total liabilities | $6,125,222 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$1,236,187 |
| Paid-in or capital surplus, or land, building, or equipment fund | $591,651 |
| Retained earnings, endowment, accumulated income, or other funds | $70,466,467 |
| Total liabilities and net assets/fund balances | $75,947,153 |