Erda Acres Water Company
- Assets
- $2.3m
- Revenue
- $300.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Tooele, UT
- Founding
- Data as of
- 09/2023
- EIN
- 87-0550861
Organization Overview
Erda Acres Water Company is located in Tooele, UT. Erda Acres Water 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 09/2023, Erda Acres Water Company generated $300.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $267.8k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 years. 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 CULINARY WATER TO ITS SHAREHOLDERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUE WAS RECEIVED FROM WATER CHARGES, CONTRIBUTED SERVICES AND GRANTS. EXPENSES ARE INCURRED IN THE OPERATION OF THE WATER SYSTEM TO PROVIDE CULINARY WATER TO ITS SHAREHOLDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Isom President | OfficerTrustee | 100 | $18,000 |
Blanche Smith Treasurer | OfficerTrustee | 25 | $15,600 |
Michael Webb Secretary | OfficerTrustee | 15 | $2,000 |
Rob Adams Vice Preside | OfficerTrustee | 15 | $660 |
Larry Brown Board Member | Trustee | 3 | $660 |
David Gunderson Board Member | Trustee | 3 | $660 |
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 | $299,630 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $299,630 |
| Total Program Service Revenue | $0 |
| Investment income | $543 |
| 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 | $300,173 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $40,110 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,054 |
| Advertising and promotion | $0 |
| Office expenses | $4,713 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,076 |
| Travel | $2,021 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,140 |
| Interest | $3,767 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,822 |
| Insurance | $7,617 |
| All other expenses | $2,246 |
| Total functional expenses | $267,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,364 |
| Savings and temporary cash investments | $134,721 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$4,992 |
| 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 | $1,818,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,304,509 |
| 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 | $545,030 |
| Other liabilities | $0 |
| Total liabilities | $545,030 |
| Net assets without donor restrictions | $1,654,380 |
| Net assets with donor restrictions | $105,099 |
| 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 | $2,304,509 |