Meridian Farms Water Co
- Assets
- $7.3m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Meridian, CA
- Founding
- 10/1936
- Data as of
- 10/2023
- EIN
- 94-0676265
Organization Overview
Meridian Farms Water Co is located in Meridian, CA. The organization was established in 1936. 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 10/2023, Meridian Farms Water Co employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meridian Farms Water 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 10/2023, Meridian Farms Water Co generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $2.1m during the year ending 10/2023. While expenses have increased by 2.6% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COMPANY'S MISSION IS TO PROVIDE WATER FOR LOCAL FARMING OPEERATIONS AND MAKE PEOPLE AWARE OF THE WATER RESORCES AND THEIR VALUE TO THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER FOR THE LOCAL FARMINING OPERATIONS AND CONTINUE TO MAKE PEOPLE AWARE OF WATER RESOURCES AND THEIR VALUE TO THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Chesni Secretary Treas | Trustee | 5 | $275 |
Mark Moroni Director | Trustee | 5 | $275 |
Brian Fedora Director | Trustee | 10 | $225 |
Craig Bryant Director | Trustee | 5 | $225 |
Brian Park President & CEO | Trustee | 5 | $225 |
Dirk Rohleder Director | Trustee | 5 | $100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,313,799 |
| 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 | $2,313,799 |
| Total Program Service Revenue | $1,414,858 |
| Investment income | $1,422 |
| 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 | $3,737,224 |
| 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. | $1,400 |
| Compensation of current officers, directors, key employees. | $45 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $213,769 |
| Pension plan accruals and contributions | $6,631 |
| Other employee benefits | $40,369 |
| Payroll taxes | $13,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,402 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,075 |
| Advertising and promotion | $0 |
| Office expenses | $6,907 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,200 |
| Travel | $0 |
| 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 | $330,591 |
| Insurance | $35,544 |
| All other expenses | $162,214 |
| Total functional expenses | $2,117,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $768,928 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $248,487 |
| 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 | $12,792 |
| Net Land, buildings, and equipment | $6,302,612 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $7,333,819 |
| Accounts payable and accrued expenses | $168,199 |
| 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 | $86,354 |
| Total liabilities | $254,553 |
| Net assets without donor restrictions | $6,902,763 |
| Net assets with donor restrictions | $176,503 |
| 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 | $7,333,819 |