Bellflower-Somerset Mutual Water Company
- Assets
- $40.2m
- Revenue
- $12.7m
- Investments
- $0.0
- Employees
- 23
- Location
- Bellflower, CA
- Founding
- 02/1932
- Data as of
- 06/2023
- EIN
- 95-0539200
Organization Overview
Bellflower-Somerset Mutual Water Company is located in Bellflower, CA. The organization was established in 1932. 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 06/2023, Bellflower-Somerset Mutual Water Company employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bellflower-Somerset Mutual 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 06/2023, Bellflower-Somerset Mutual Water Company generated $12.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $7.4m during the year ending 06/2023. While expenses have increased by 0.9% per year over the past 8 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
PROVIDE WATER SERVICE FOR SHAREHOLDERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE WATER SERVICE TO SHAREHOLDERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Cook President | OfficerTrustee | 3 | $10,161 |
Leo Struiksma Board Member | Trustee | 2 | $20,071 |
Eric Ikeda Board Member | Trustee | 2 | $10,578 |
Cheryl Harris Board Member | Trustee | 2 | $13,204 |
Robert Wilson Board Member | Trustee | 2 | $18,368 |
Steve Lenton General Manager | Officer | 40 | $229,745 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckinney Construction Co Construction Services | 6/29/22 | $778,165 |
Akm Consulting Engineers Engineering Services | 6/29/22 | $276,202 |
Pascal And Ludwig Construction Inc Construction Services | 6/29/22 | $528,089 |
Eide Bailly Llp Accounting Services | 6/29/22 | $110,260 |
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 | $10,324,089 |
| Investment income | $94,279 |
| 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 | $12,666,566 |
| 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. | $458,916 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,207,789 |
| Pension plan accruals and contributions | $106,517 |
| Other employee benefits | $284,066 |
| Payroll taxes | $112,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $94,788 |
| Fees for services: Accounting | $13,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $196,532 |
| Advertising and promotion | $0 |
| Office expenses | $148,604 |
| Information technology | $246,947 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,572 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $487,297 |
| Insurance | $73,855 |
| All other expenses | $224,040 |
| Total functional expenses | $7,418,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,290,601 |
| Savings and temporary cash investments | $11,279,511 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,021,311 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $682,055 |
| Prepaid expenses and deferred charges | $246,323 |
| Net Land, buildings, and equipment | $22,259,644 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,420,242 |
| Other assets | $0 |
| Total assets | $40,199,687 |
| Accounts payable and accrued expenses | $855,657 |
| 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 | $2,133,585 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $660,371 |
| Total liabilities | $3,649,613 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $205,980 |
| Paid-in or capital surplus, or land, building, or equipment fund | $229,465 |
| Retained earnings, endowment, accumulated income, or other funds | $36,114,629 |
| Total liabilities and net assets/fund balances | $40,199,687 |