Civic Intelligence

Thrasher Water Association

990 • Fiscal year 2021 • EIN 23-7021479

Aug 01, 2020 to Jul 31, 2021 • Filed on Dec 17, 2021

Organization Profile
21 County Road 1120Booneville, MS 38829

(662) 728-9830

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.07x

Higher debt load relative to assets than 51% of similar nonprofits.

2021 filings • 501(c)12 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

57th percentile

0.29x

Higher debt load relative to revenue than 57% of similar nonprofits.

2021 filings • 501(c)12 • $500k-$1M nonprofits • Source year 2021

Net Margin

11th percentile

-26%

Higher net margin than 11% of similar nonprofits.

2021 filings • 501(c)12 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

92nd percentile

$20,755

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.9% of source-year revenue.

2021 filings • 501(c)12 • $500k-$1M nonprofits • Source year 2021

Asset Growth

20th percentile

-4.1%

Faster asset growth than 20% of similar nonprofits.

2021 filings • 501(c)12 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

14th percentile

-7.7%

Faster revenue growth than 14% of similar nonprofits.

2021 filings • 501(c)12 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$889,270

Down $38,445 (-4.1%) from 2020

Net Assets

Down

$829,205

Down $55,298 (-6.3%) from 2020

Liabilities

Up

$60,063

Up $16,851 (+39%) from 2020

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin11th percentile

Revenue

Down

$209,576

Down $17,493 (-7.7%) from 2020

Expenses

Up

$264,962

Up $61,895 (+30%) from 2020

Net Income

Down

-$55,386

Down $79,388 (-331%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2020: $927,715Liabilities 2020: $43,212Net Assets 2020: $884,5032020Assets 2021: $889,270Liabilities 2021: $60,063Net Assets 2021: $829,2052021Assets 2022: $789,538Liabilities 2022: $22,942Net Assets 2022: $766,5962022Assets 2023: $788,093Liabilities 2023: $23,003Net Assets 2023: $765,0902023Assets 2024: $762,785Liabilities 2024: $36,171Net Assets 2024: $726,6142024

Highlighted filing

2021

Assets$889,270
Liabilities$60,063
Net Assets$829,205
Open 2021 Filing

Operations Trend

Revenue Growth14th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0-$100KRevenue 2020: $227,069Expenses 2020: $203,067Net Income 2020: $24,0022020Revenue 2021: $209,576Expenses 2021: $264,962Net Income 2021: -$55,3862021Revenue 2022: $247,299Expenses 2022: $309,906Net Income 2022: -$62,6072022Revenue 2023: $224,838Expenses 2023: $226,345Net Income 2023: -$1,5072023Revenue 2024: $223,935Expenses 2024: $262,409Net Income 2024: -$38,4742024

Highlighted filing

2021

Revenue$209,576
Expenses$264,962
Net Income-$55,386
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Dec 17, 2021
Return Version
2020v4.1
Gross Receipts
$209,576
Mission and Program Overview

Mission

Water service to thrasher community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$293,240$304,752▲ $11,512
Savings and Temporary Cash Investments$272,643$274,403▲ $1,760
Cash and Non-Interest-Bearing Accounts$286,676$230,786▼ $55,890
Accounts Receivable$70,781$73,968▲ $3,187
Prepaid Expenses and Deferred Charges$3,020$4,001▲ $981
Total Assets$927,715$889,270▼ $38,445
Other Assets Total$1,355$1,360▲ $5
Liabilities
Accounts Payable and Accrued Expenses$11,514$27,787▲ $16,273
Other Liabilities$15,268$24,908▲ $9,640
Mortgage Notes Payable Secured by Investment Property$16,430$7,368▼ $9,062
Total Liabilities$43,212$60,063▲ $16,851
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$884,503$829,205▼ $55,298
Total Net Assets Fund Balance$884,503$829,205▼ $55,298
Total Liabilities and Net Assets / Fund Balance$927,715$889,268▼ $38,447

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$165,994$523,659$689,653
Equipment$48,630$15,983$64,613
Land$53,811-$53,811
Buildings$36,317$9,202$45,519
Other Assets Org$405--
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Roy TaylorSecretary - TreasurerPT$20,755$20,755
Horace HuddlestonPresidentPT$2,712$2,712
Glenn WilliamsDirectorPT$1,665$1,665
Cecil WeatherbeeDirectorPT$1,606$1,606
Tony ChristianVice PresidentPT$500$500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$206,732
Investment Income
$2,329
Other Revenue
$515
Change in Net Assets
$-55,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$213,282
Salaries, Compensation, and Employee Benefits$51,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$27,328--$27,328
Other Salaries and Wages$21,207--$21,207
Other Expenses$19,252--$19,252
Depreciation Depletion$16,841--$16,841
Fees for Services Accounting$9,462--$9,462
All Other Expenses$6,385--$6,385
Insurance$3,875--$3,875
Payroll Taxes$3,145--$3,145
Interest$2,507--$2,507
Office Expenses$1,470--$1,470
Total Functional Expenses$264,962$0$0$264,962
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Deposits$16,170
Ppp Loan$6,750
Accrued Taxes$1,962
Accrued Interest Payable$26
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 6 and 7

“The association requires all water users to pay a one time membership fee and eachmember is entitled to one vote for directors.”

PART VI LINE 8A

“There are no committees with authority to act on behalf of the bord of directors”

PART VI LINE 11A

“Form 990 is retianed in the association office and is available to members to review upon request. Form 990 is reviewed by the board at their monthly meetingprior to mailing.”

Part VI Line 19

“The year end financial statements, bylaws, and policies are available to the membersfor review upon request”

Filing and Contact Details

Filer

Filer Name
Thrasher Water Association
EIN
23-7021479
Phone
6627289830
Address
21 COUNTY ROAD 1120, BOONEVILLE, MS 38829

Signing Officer

Name
Roy Taylor
Title
President
Phone
6627289830
Signed
2021-12-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roy Taylor
Formed
1960
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
5
Employees
4

Preparer

Firm
Jones and Jones CPA of Boon Pa
Address
201 W MARKET ST P O BOX 250, BOONEVILLE, MS 38829
Preparer
Jeremy D Jones CPA
Phone
6627286235
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION REQUIRES ALL WATER USERS TO PAY A ONE TIME MEMBERSHIP FEE AND EACHMEMBER IS ENTITLED TO ONE VOTE FOR DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BORD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS RETIANED IN THE ASSOCIATION OFFICE AND IS AVAILABLE TO MEMBERS TO REVIEW UPON REQUEST. FORM 990 IS REVIEWED BY THE BOARD AT THEIR MONTHLY MEETINGPRIOR TO MAILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE YEAR END FINANCIAL STATEMENTS, BYLAWS, AND POLICIES ARE AVAILABLE TO THE MEMBERSFOR REVIEW UPON REQUEST
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ROY TAYLOR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06627289830
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-17
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-01-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMY D JONES CPA
ReturnHeader/ReturnTs02022-01-15T14:51:47Z
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ROY
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ReturnHeader/TaxPeriodBeginDt02020-08-01
ReturnHeader/TaxPeriodEndDt02021-07-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$889,270
Liabilities
$60,063
Net assets
$829,205
Revenue
$209,576
Expenses
$264,962
Net income
-$55,386
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.63$0.36$7.27$2.24$2.62$0.38
2023Detailed filing. Detailed filing data is available for this year.$7.88$0.23$7.65$2.25$2.26$0.02
2022Detailed filing. Detailed filing data is available for this year.$7.90$0.23$7.67$2.47$3.10$0.63
2021Detailed filing. Detailed filing data is available for this year.$8.89$0.60$8.29$2.10$2.65$0.55
2020Detailed filing. Detailed filing data is available for this year.$9.28$0.43$8.85$2.27$2.03$0.24