Civic Intelligence

Wheeler Frankstown Water Association

EIN 23-7021480 • 501(c)12 • Wheeler, MS

Profile

Water supplied to wheeler frankstown community

PO Box 157Wheeler, MS 38880
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

52nd percentile

0.27x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

39th percentile

0.62x

Higher debt load relative to revenue than 39% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Net Margin

96th percentile

78%

Higher net margin than 96% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Asset Growth

98th percentile

92%

Faster asset growth than 98% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

99th percentile

307%

Faster revenue growth than 99% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$6,308,407

Up $3,028,099 (+92%) from 2023

Liabilities

Up

$1,729,750

Up $855,760 (+98%) from 2023

Net Assets

Up

$4,578,657

Up $2,172,339 (+90%) from 2023

Revenue

Up

$2,777,125

Up $2,094,450 (+307%) from 2023

Expenses

Up

$604,786

Up $63,914 (+12%) from 2023

Net Income

Up

$2,172,339

Up $2,030,536 (+1432%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2020: $2,785,475Liabilities 2020: $687,362Net Assets 2020: $2,098,1132020Assets 2021: $2,791,162Liabilities 2021: $607,809Net Assets 2021: $2,183,3532021Assets 2022: $2,775,803Liabilities 2022: $518,292Net Assets 2022: $2,257,5112022Assets 2023: $3,280,308Liabilities 2023: $873,990Net Assets 2023: $2,406,3182023Assets 2024: $6,308,407Liabilities 2024: $1,729,750Net Assets 2024: $4,578,6572024

Highlighted filing

2024

Assets$6,308,407
Liabilities$1,729,750
Net Assets$4,578,657

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0Revenue 2020: $679,615Expenses 2020: $540,682Net Income 2020: $138,9332020Revenue 2021: $628,864Expenses 2021: $571,432Net Income 2021: $57,4322021Revenue 2022: $700,559Expenses 2022: $626,400Net Income 2022: $74,1592022Revenue 2023: $682,675Expenses 2023: $540,872Net Income 2023: $141,8032023Revenue 2024: $2,777,125Expenses 2024: $604,786Net Income 2024: $2,172,3392024

Highlighted filing

2024

Revenue$2,777,125
Expenses$604,786
Net Income$2,172,339

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 31, 2025
Return Version
2024v5.0
Gross Receipts
$2,777,125
Mission and Program Overview

Mission

To provide clean and reliable water to the members of the water system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,535,139$3,174,450▲ $1,639,311
Cash and Non-Interest-Bearing Accounts$824,956$1,313,671▲ $488,715
Pledges and Grants Receivable-$183,764-
Accounts Receivable$103,544$89,700▼ $13,844
Inventories for Sale or Use$58,537$81,028▲ $22,491
Savings and Temporary Cash Investments$502,000$77,000▼ $425,000
Prepaid Expenses and Deferred Charges$6,591$6,591→ $0
Total Assets$3,280,308$6,308,407▲ $3,028,099
Other Assets Total$249,541$1,382,203▲ $1,132,662
Liabilities
Mortgage Notes Payable Secured by Investment Property$797,677$1,109,536▲ $311,859
Accounts Payable and Accrued Expenses$32,405$575,367▲ $542,962
Other Liabilities$43,908$44,847▲ $939
Total Liabilities$873,990$1,729,750▲ $855,760
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,406,318$4,578,657▲ $2,172,339
Total Net Assets Fund Balance$2,406,318$4,578,657▲ $2,172,339
Total Liabilities and Net Assets / Fund Balance$3,280,308$6,308,407▲ $3,028,099

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,927,678$2,276,014$5,203,692
Buildings$217,679-$217,679
Land$29,093-$29,093
Other Assets Org$2,134--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jennine GrahamPresident
Benny HerringDirector
Thomas TaylorDirector
Chris MorelandSec/treasure
Jd OwensVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Eubank ConstructionLine Installati2011 NORTH 2ND ST, Booneville, MS 38829$688,059
Phillips ContractingLine InstallatiPO BOX 2069, Columbus, MS 39704$551,713
Midsouth Utility ContractorsMeter InstallatPO BOX 4316, Bay St Louis, MS 39521$473,656
Engineering SolutionsProject Enginee180 MAGEE DRIVE, Pontotoc, MS 38863$241,754
Revenue and Support

Revenue Composition

Contributions and Grants
$2,086,795
Program Service Revenue
$686,094
Investment Income
$3,466
Other Revenue
$770
Change in Net Assets
$2,172,339

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,777,125
Total Revenue per Audited Statements
$2,777,125
Total Revenue per Form 990
$2,777,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$408,209
Salaries, Compensation, and Employee Benefits$196,577
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$174,091--$174,091
Depreciation Depletion$92,923--$92,923
Occupancy$60,802--$60,802
Fees for Services Accounting-$31,024-$31,024
Interest$30,345--$30,345
Insurance$23,481--$23,481
Office Expenses$21,061--$21,061
Payroll Taxes$13,706--$13,706
Other Expenses$12,634--$12,634
Other Employee Benefits$8,780--$8,780
All Other Expenses$4,497--$4,497
Travel$2,984--$2,984
Advertising-$1,427-$1,427
Total Functional Expenses$572,335$32,451$0$604,786

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$604,786
Total Expenses per Audited Statements$604,786
Total Expenses per Form 990$604,786
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$44,847
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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

Form 990, Page 6, Part VI, Line 6

Each customer of the association is also a member of the association and is required to pay a one time membership fee.

Form 990, Page 6, Part VI, Line 7A

All members are entitled to one vote for the directors of the association.

Form 990, Page 6, Part VI, Line 11B

A copy of form 990 is provided to the board for review prior to filing.

Form 990, Page 6, Part VI, Line 19

The organization makes its documents, including form 990, available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Wheeler Frankstown Water
EIN
23-7021480
Phone
6623658750
Address
PO BOX 157, WHEELER, MS 38880

Signing Officer

Name
Jennine Graham
Title
President
Phone
6623658750
Signed
2025-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennine Graham
Formed
1966
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
5
Employees
13

Preparer

Firm
Franks Franks Wilemon & Hagood Pa
Address
PO BOX 731, TUPELO, MS 38802-0731
Preparer
Samuel Knight
Phone
6628445226
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt044847
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt02777125
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03174450
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01382203
IRS990ScheduleD/TotalExpensesPerForm990Amt0604786
IRS990ScheduleD/TotalLiabilityAmt044847
IRS990ScheduleD/TotalRevenuePerForm990Amt02777125
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02777125
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0604786
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH CUSTOMER OF THE ASSOCIATION IS ALSO A MEMBER OF THE ASSOCIATION AND IS REQUIRED TO PAY A ONE TIME MEMBERSHIP FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS ARE ENTITLED TO ONE VOTE FOR THE DIRECTORS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS DOCUMENTS, INCLUDING FORM 990, AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03280308
IRS990/TotalAssetsEOYAmt06308407
IRS990/TotalAssetsGrp/BOYAmt03280308
IRS990/TotalAssetsGrp/EOYAmt06308407
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02086795
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt032451
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0572335
IRS990/TotalFunctionalExpensesGrp/TotalAmt0604786
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0873990
IRS990/TotalLiabilitiesEOYAmt01729750
IRS990/TotalLiabilitiesGrp/BOYAmt0873990
IRS990/TotalLiabilitiesGrp/EOYAmt01729750
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02406318
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04578657
IRS990/TotalProgramServiceExpensesAmt0572335
IRS990/TotalProgramServiceRevenueAmt0686094
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0690330
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02777125
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03280308
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06308407
IRS990/TravelGrp/ProgramServicesAmt02984
IRS990/TravelGrp/TotalAmt02984
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 157
IRS990/USAddress/CityNm0WHEELER
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd038880
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNINE GRAHAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06623658750
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WHEELER FRANKSTOWN WATER
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0WHEE
ReturnHeader/Filer/EIN0237021480
ReturnHeader/Filer/PhoneNum06623658750
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 157
ReturnHeader/Filer/USAddress/CityNm0WHEELER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd038880
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0640736635
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FRANKS FRANKS WILEMON & HAGOOD PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 731
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TUPELO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0388020731
ReturnHeader/PreparerPersonGrp/PhoneNum06628445226
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL KNIGHT
ReturnHeader/ReturnTs02025-11-03T17:26:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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