Farm Mutual Water Company
- Assets
- $5.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Wildomar, CA
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 95-3474522
Organization Overview
Farm Mutual Water Company is located in Wildomar, CA. The organization was established in 2001. 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 12/2021, Farm Mutual Water Company employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farm 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 12/2021, Farm Mutual Water Company generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COMPANY'S MISSION AS A MUTUAL WATER COMPANY IS TO PROVIDE WATER AND SEWER SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATER AND SEWER SERVICES ARE PROVIDED TO THE MEMBERS OF THE MUTUAL WATER COMPANY IN THE COMMUNITY KNOWN AS THE FARM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Kerrigan President | OfficerTrustee | 2 | $7,800 |
Bob Kornmann III Director | OfficerTrustee | 2 | $7,800 |
Janine Tominaga Secretary | OfficerTrustee | 2 | $7,800 |
Kevin Anctil Vice President | OfficerTrustee | 2 | $7,800 |
David Freiberg Treasurer | Trustee | 2 | $7,800 |
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 | $1,501,604 |
| Investment income | $333 |
| 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 | $1,501,937 |
| 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. | $39,000 |
| Compensation of current officers, directors, key employees. | $39,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $452,059 |
| Pension plan accruals and contributions | $9,417 |
| Other employee benefits | $95,827 |
| Payroll taxes | $37,984 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $15,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,372 |
| Office expenses | $26,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $741 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,649 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $218,335 |
| Insurance | $38,117 |
| All other expenses | $100,953 |
| Total functional expenses | $1,840,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,024,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,957 |
| 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 | $28,162 |
| Net Land, buildings, and equipment | $4,358,689 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,537,159 |
| Accounts payable and accrued expenses | $65,431 |
| 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 | $667,324 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $223,815 |
| Total liabilities | $956,570 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,220 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,579,369 |
| Total liabilities and net assets/fund balances | $5,537,159 |
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