Civic Intelligence

White Shed Water Supply Corporation

990 • Fiscal year 2013 • EIN 23-7029872

Jan 01, 2013 to Dec 31, 2013 • Filed on Mar 11, 2014

Organization ProfileN/A
PO Box 8075447

(903) 583-4928

Siviq Scores

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

Liabilities / Assets

34th percentile

0.14x

Higher debt load relative to assets than 34% of similar nonprofits.

2013 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

38th percentile

0.61x

Higher debt load relative to revenue than 38% of similar nonprofits.

2013 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2013

Net Margin

64th percentile

9.0%

Higher net margin than 64% of similar nonprofits.

2013 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2013 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2013

Asset Growth

60th percentile

0.8%

Faster asset growth than 60% of similar nonprofits.

2013 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$1,761,752

Up $13,737 (+0.8%) from 2012

Net Assets

Up

$1,522,927

Up $34,664 (+2.3%) from 2012

Liabilities

Down

$238,825

Down $20,927 (-8.1%) from 2012

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin64th percentile

Revenue

$389,557

No earlier filing loaded for comparison.

Expenses

Down

$354,543

Down $16,013 (-4.3%) from 2012

Net Income

$35,014

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,711,884Liabilities 2010: $299,312Net Assets 2010: $1,412,5722010Assets 2011: $1,753,803Liabilities 2011: $279,597Net Assets 2011: $1,474,2062011Assets 2012: $1,748,015Liabilities 2012: $259,752Net Assets 2012: $1,488,2632012Assets 2013: $1,761,752Liabilities 2013: $238,825Net Assets 2013: $1,522,9272013Assets 2014: $1,736,232Liabilities 2014: $216,697Net Assets 2014: $1,519,5352014Assets 2015: $1,717,353Liabilities 2015: $197,258Net Assets 2015: $1,520,0952015Assets 2016: $1,804,395Liabilities 2016: $181,803Net Assets 2016: $1,622,5922016Assets 2017: $1,882,126Liabilities 2017: $165,276Net Assets 2017: $1,716,8502017Assets 2018: $2,223,341Liabilities 2018: $147,179Net Assets 2018: $2,076,1622018Assets 2019: $2,309,234Liabilities 2019: $174,888Net Assets 2019: $2,134,3462019Assets 2020: $2,496,284Liabilities 2020: $148,430Net Assets 2020: $2,347,8542020Assets 2021: $2,623,248Liabilities 2021: $120,001Net Assets 2021: $2,503,2472021Assets 2022: $2,741,961Liabilities 2022: $90,022Net Assets 2022: $2,651,9392022Assets 2023: $2,870,347Liabilities 2023: $59,852Net Assets 2023: $2,810,4952023Assets 2024: $2,887,420Liabilities 2024: $30,125Net Assets 2024: $2,857,2952024

Highlighted filing

2013

Assets$1,761,752
Liabilities$238,825
Net Assets$1,522,927
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2010: $333,4892010Expenses 2011: $353,4172011Expenses 2012: $370,5562012Revenue 2013: $389,557Expenses 2013: $354,543Net Income 2013: $35,0142013Revenue 2014: $365,831Expenses 2014: $369,773Net Income 2014: -$3,9422014Revenue 2015: $366,565Expenses 2015: $366,555Net Income 2015: $102015Revenue 2016: $474,708Expenses 2016: $372,761Net Income 2016: $101,9472016Revenue 2017: $466,488Expenses 2017: $373,230Net Income 2017: $93,2582017Revenue 2018: $755,787Expenses 2018: $397,475Net Income 2018: $358,3122018Revenue 2019: $483,237Expenses 2019: $425,703Net Income 2019: $57,5342019Revenue 2020: $690,682Expenses 2020: $478,524Net Income 2020: $212,1582020Revenue 2021: $655,473Expenses 2021: $501,080Net Income 2021: $154,3932021Revenue 2022: $721,709Expenses 2022: $573,967Net Income 2022: $147,7422022Revenue 2023: $832,220Expenses 2023: $673,714Net Income 2023: $158,5062023Revenue 2024: $986,259Expenses 2024: $939,909Net Income 2024: $46,3502024

Highlighted filing

2013

Revenue$389,557
Expenses$354,543
Net Income$35,014
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Mar 11, 2014
Return Version
2013v3.1
Gross Receipts
$389,557
Mission and Program Overview

Mission

Provide water for farm and rural domestic use in rural areas of northern fannin county

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,493,830$1,449,911▼ $43,919
Cash and Non-Interest-Bearing Accounts$183,638$239,959▲ $56,321
Savings and Temporary Cash Investments$70,547$71,882▲ $1,335
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,748,015$1,761,752▲ $13,737
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$251,788$230,418▼ $21,370
Accounts Payable and Accrued Expenses$7,964$8,407▲ $443
Total Liabilities$259,752$238,825▼ $20,927
Net Assets / Fund Balance
Unrestricted Net Assets$1,488,263$1,522,927▲ $34,664
Total Net Assets Fund Balance$1,488,263$1,522,927▲ $34,664
Total Liabilities and Net Assets / Fund Balance$1,748,015$1,761,752▲ $13,737

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,449,911$1,006,218$2,456,129
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Jodie GibbsPresident
James C McraeVice President
Bill LindsayDirector
Bryan HutchingsDirector
Ivan BurtonDirector
Travis HassDirector
Johnny BinghamSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$388,132
Investment Income
$1,425
Other Revenue
$0
Change in Net Assets
$35,014

Audited Revenue Reconciliation

Revenue per Audited Statements
$389,557
Total Revenue per Audited Statements
$389,557
Total Revenue per Form 990
$389,557
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$204,346
Salaries, Compensation, and Employee Benefits$150,197
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$119,926--$119,926
Depreciation Depletion$66,120--$66,120
Occupancy$44,050--$44,050
Insurance$21,325--$21,325
Other Employee Benefits$17,304--$17,304
Interest$9,818--$9,818
Payroll Taxes$9,429--$9,429
Office Expenses$8,316--$8,316
Other Expenses$6,701--$6,701
Fees for Services Accounting$5,275--$5,275
All Other Expenses$3,693--$3,693
Pension Plan Contributions$3,538--$3,538
Fees for Services Other$1,454--$1,454
Conferences and Meetings$1,145--$1,145
Total Functional Expenses$354,543$0$0$354,543

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$354,543
Total Expenses per Audited Statements$354,543
Total Expenses per Form 990$354,543
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Membership in the corporation entitles the member to one connection to the corporation's water main and to one vote in the conduct of affairs of the corporation. A member may own more than one membership, but each member will be entitled to only one vote.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“President of the board of directors will review tax return prior to submitting to the irs.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Directors disclose any conflicts of interest.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation of top management is determined by the board of directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The governing documents, conflict of interest policy, and financial statements can be obtained upon request of cindy gann, po box 80, ivanhoe, tx 75447.”

Filing and Contact Details

Filer

EIN
23-7029872

Signing Officer

Name
Jodie Gibbs
Title
President
Signed
2014-03-11
Discuss with paid preparer
Yes

Organization Details

Formed
1964
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
4

Preparer

Preparer
Debra Wilder
Phone
9035835574
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Decrease in memberships = -$350”

Raw XML Appendix379 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0388132
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01447
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0223191
IRS990/PYProgramServiceRevenueAmt0382966
IRS990/PYRevenuesLessExpensesAmt013857
IRS990/PYSalariesCompEmpBnftPaidAmt0147365
IRS990/PYTotalExpensesAmt0370556
IRS990/PYTotalRevenueAmt0384413
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt035014
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt070547
IRS990/SavingsAndTempCashInvstGrp/EOYAmt071882
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0354543
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01449911
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01006218
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02456129
IRS990ScheduleD/RevenueSubtotalAmt0389557
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01449911
IRS990ScheduleD/TotalExpensesPerForm990Amt0354543
IRS990ScheduleD/TotalRevenuePerForm990Amt0389557
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0389557
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0354543
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERSHIP IN THE CORPORATION ENTITLES THE MEMBER TO ONE CONNECTION TO THE CORPORATION'S WATER MAIN AND TO ONE VOTE IN THE CONDUCT OF AFFAIRS OF THE CORPORATION. A MEMBER MAY OWN MORE THAN ONE MEMBERSHIP, BUT EACH MEMBER WILL BE ENTITLED TO ONLY ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRESIDENT OF THE BOARD OF DIRECTORS WILL REVIEW TAX RETURN PRIOR TO SUBMITTING TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS DISCLOSE ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION OF TOP MANAGEMENT IS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS CAN BE OBTAINED UPON REQUEST OF CINDY GANN, PO BOX 80, IVANHOE, TX 75447.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DECREASE IN MEMBERSHIPS = -$350
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01748015
IRS990/TotalAssetsEOYAmt01761752
IRS990/TotalAssetsGrp/BOYAmt01748015
IRS990/TotalAssetsGrp/EOYAmt01761752
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0354543
IRS990/TotalFunctionalExpensesGrp/TotalAmt0354543
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0259752
IRS990/TotalLiabilitiesEOYAmt0238825
IRS990/TotalLiabilitiesGrp/BOYAmt0259752
IRS990/TotalLiabilitiesGrp/EOYAmt0238825
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01488263
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01522927
IRS990/TotalProgramServiceExpensesAmt0354543
IRS990/TotalProgramServiceRevenueAmt0388132
IRS990/TotalRevenueGrp/ExclusionAmt01425
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0388132
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0389557
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01748015
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01761752
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01488263
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01522927
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JODIE GIBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-03-11
ReturnHeader/Filer/BusinessName/BusinessNameLine10WHITE SHED WATER SUPPLY CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0WHIT
ReturnHeader/Filer/EIN0237029872
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 80
ReturnHeader/Filer/USAddress/City0IVANHOE
ReturnHeader/Filer/USAddress/State0TX
ReturnHeader/Filer/USAddress/ZIPCode075447
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10McClanahan and Holmes LLP CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101400 West Russell
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Bonham
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode075418
ReturnHeader/PreparerPersonGrp/PhoneNum09035835574
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Debra Wilder
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-03-12T08:46:31-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,761,752
Liabilities
$238,825
Net assets
$1,522,927
Revenue
$389,557
Expenses
$354,543
Net income
$35,014
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.89$0.03$2.86$0.99$0.94$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.87$0.06$2.81$0.83$0.67$0.16
2022Detailed filing. Detailed filing data is available for this year.$2.74$0.09$2.65$0.72$0.57$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.62$0.12$2.50$0.66$0.50$0.15
2020Detailed filing. Detailed filing data is available for this year.$2.50$0.15$2.35$0.69$0.48$0.21
2019Detailed filing. Detailed filing data is available for this year.$2.31$0.17$2.13$0.48$0.43$0.06
2018Detailed filing. Detailed filing data is available for this year.$2.22$0.15$2.08$0.76$0.40$0.36
2017Detailed filing. Detailed filing data is available for this year.$1.88$0.17$1.72$0.47$0.37$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.80$0.18$1.62$0.47$0.37$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.72$0.20$1.52$0.37$0.37$0.00
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.74$0.22$1.52$0.37$0.37$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.76$0.24$1.52$0.39$0.35$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.26$1.49$0.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.28$1.47$0.35
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.71$0.30$1.41$0.33