Firgrove Mutual Inc
- Assets
- $51.7m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 22
- Location
- Puyallup, WA
- Founding
- 03/1958
- Data as of
- 03/2024
- EIN
- 91-0822808
Organization Overview
Firgrove Mutual Inc is located in Puyallup, WA. The organization was established in 1958. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. As of 03/2024, Firgrove Mutual Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Firgrove Mutual Inc 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 03/2024, Firgrove Mutual Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $7.8m during the year ending 03/2024. While expenses have increased by 4.8% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PURPOSE IS TO INSTALL, MAINTAIN, AND OPERATE A WATER SUPPLY SYSTEM FOR ITS MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRGROVE AGGRESSIVELY SAFEGUARDS ITS WATER SUPPLY IN ORDER TO PROVIDE A SAFE AND RELIABLE SUPPLY OF WATER. FIRGROVE UPHOLDS THE STANDARDS SET BY THE WASHINGTON STATE DEPARTMENT OF HEALTH AND THE UNITED STATES ENVIRONMENTAL PROTECTION AGENCY. THE MUTUAL IS PROUD OF ITS RECORD OF PROVIDING HIGH QUALITY OF WATER AND SERVICE TO ITS CUSTOMERS.THE COMPANY HAS GROWN TO EMBRACE A POPULATION OF ABOUT 28,000 RESIDENTS AND CONTINUES TO EXPAND AS NEW DEVELOPMENTS ARE ADDED WITHIN THE SERVICE AREA. THE ORGANIZATION PROVIDED WATER SERVICE TO APPROXIMATELY 11,227 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Williams Trustee | Trustee | 0.7 | $2,400 |
Austin Fisher President/trustee | OfficerTrustee | 0.8 | $3,000 |
Donald Rose Vp/president | OfficerTrustee | 0.8 | $3,300 |
Mitchell Hinds Trustee/secretary | OfficerTrustee | 0.7 | $2,700 |
Eric Ott Secretary/vp | OfficerTrustee | 0.7 | $3,000 |
Larry Jones General Manager | Officer | 40 | $177,280 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bhc Consultants Llc Engineering | 3/30/24 | $158,929 |
National Industrial Painting Inc Reservoir Painting | 3/30/24 | $116,338 |
Springbrook Holding Company Llc Financial Software Upgrade/subscription | 3/30/24 | $115,058 |
Tapani Inc Construction | 3/30/24 | $462,058 |
Puget Sound Energy Electric And Gas Services | 3/30/24 | $236,463 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,953 |
| 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 | $30,953 |
| Total Program Service Revenue | $6,741,953 |
| Investment income | $144,553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $145,834 |
| Net Gain/Loss on Asset Sales | $56,982 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,474,431 |
| 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. | $424,676 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,141,537 |
| Pension plan accruals and contributions | $135,606 |
| Other employee benefits | $356,879 |
| Payroll taxes | $132,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,657 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $132,267 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,322 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,642 |
| Interest | $29,422 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,058,935 |
| Insurance | $141,059 |
| All other expenses | $71,088 |
| Total functional expenses | $7,820,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,204 |
| Savings and temporary cash investments | $16,418,790 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,117,694 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $299,801 |
| Prepaid expenses and deferred charges | $112,670 |
| Net Land, buildings, and equipment | $22,915,757 |
| Investments—publicly traded securities | $5,334,748 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,234,310 |
| Total assets | $51,711,974 |
| Accounts payable and accrued expenses | $1,041,559 |
| Grants payable | $0 |
| Deferred revenue | $11,645 |
| 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 | $110,921 |
| Unsecured mortgages and notes payable | $972,226 |
| Other liabilities | $233,101 |
| Total liabilities | $2,369,452 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $45,366,828 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,975,694 |
| Total liabilities and net assets/fund balances | $51,711,974 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Firgrove Mutual Inc Puyallup, WA | $51,711,974 | $7,474,431 |
Associated General Contractors Of America Idaho Branch Inc Boise, ID | $5,957,828 | $3,069,525 |
Naches Cowiche Canal Association Yakima, WA | $814,984 | $699,113 |
Oregon And S Idaho Laborers Employers Cooperation And Edu Tr Portland, OR | $956,173 | $490,873 |
United Nonprofits Llc Anchorage, AK | $1,773,853 | $328,651 |
2828 Corbett Inc Portland, OR | $3,520,577 | $159,000 |
Central Coast Clean Water Company Depoe Bay, OR | $119,092 | $237,896 |
Onamac Maintenance Association Stanwood, WA | $976,634 | $196,322 |
Lamontai Improvement Dist Cottage Grove, OR | $388,557 | $0 |
Employee Relations And Negotiations Network Of Washington State Tumwater, WA | $169,687 | $0 |
Tri-Met Employees Inc Portland, OR | $341,592 | $0 |
Seiu Local 49 Building Portland, OR | $1,169,152 | $6,524 |
Long Point Water Company Inc Coupeville, WA | $966,106 | $269,895 |
Corvallis Elks Charity Trust Corvallis, OR | $0 | $29,794 |
Livingston Bay Community Association Stanwood, WA | $115,991 | $0 |
Seattle Black Firefighters Association Burien, WA | $762,654 | $18,795 |