Civic Intelligence

Paxton Water Supply Corporation

EIN 23-7111592 • 501(c)12 • Center, TX

Profile

To provide water to members located in shelby county.

PO Box 1138Center, TX 75935

n/A

Siviq Scores

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

Liabilities / Assets

67th percentile

0.20x

Higher debt load relative to assets than 67% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.34x

Higher debt load relative to revenue than 62% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Net Margin

9th percentile

-37%

Higher net margin than 9% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

96th percentile

$33,823

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Asset Growth

5th percentile

-16%

Faster asset growth than 5% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-9.7%

Faster revenue growth than 18% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$1,102,631

Up $5,254 (+0.5%) from 2020

Liabilities

Down

$214,009

Down $72,625 (-25%) from 2020

Net Assets

Up

$888,622

Up $77,879 (+9.6%) from 2020

Operations
Liabilities / Revenue62nd percentileNet Margin9th percentile

Revenue

Up

$585,962

Up $119,871 (+26%) from 2020

Expenses

Up

$501,970

Up $104,662 (+26%) from 2020

Net Income

Up

$83,992

Up $15,209 (+22%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth5th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $451,820Liabilities 2010: $90,543Net Assets 2010: $361,2772010Assets 2011: $227,012Net Assets 2011: $02011Assets 2012: $585,010Liabilities 2012: $58,439Net Assets 2012: $526,5712012Assets 2013: $593,335Liabilities 2013: $41,184Net Assets 2013: $552,1512013Assets 2014: $628,690Liabilities 2014: $36,879Net Assets 2014: $591,8112014Assets 2015: $657,892Liabilities 2015: $33,621Net Assets 2015: $624,2712015Assets 2016: $827,859Liabilities 2016: $236,355Net Assets 2016: $591,5042016Assets 2017: $865,375Liabilities 2017: $220,831Net Assets 2017: $644,5442017Assets 2018: $923,251Liabilities 2018: $205,015Net Assets 2018: $718,2362018Assets 2019: $930,180Liabilities 2019: $188,220Net Assets 2019: $741,9602019Assets 2020: $1,097,377Liabilities 2020: $286,634Net Assets 2020: $810,7432020Assets 2022: $1,102,631Liabilities 2022: $214,009Net Assets 2022: $888,6222022

Highlighted filing

2022

Assets$1,102,631
Liabilities$214,009
Net Assets$888,622
Open 2022 Filing

Operations Trend

Revenue Growth18th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $264,5752010Revenue 2011: $0Expenses 2011: $20,058Net Income 2011: -$20,0582011Expenses 2012: $322,8472012Revenue 2013: $344,136Expenses 2013: $318,556Net Income 2013: $25,5802013Revenue 2014: $351,964Expenses 2014: $312,304Net Income 2014: $39,6602014Revenue 2015: $356,396Expenses 2015: $323,936Net Income 2015: $32,4602015Revenue 2016: $377,926Expenses 2016: $343,036Net Income 2016: $34,8902016Revenue 2017: $409,154Expenses 2017: $356,114Net Income 2017: $53,0402017Revenue 2018: $460,795Expenses 2018: $387,103Net Income 2018: $73,6922018Revenue 2019: $437,233Expenses 2019: $413,509Net Income 2019: $23,7242019Revenue 2020: $466,091Expenses 2020: $397,308Net Income 2020: $68,7832020Revenue 2022: $585,962Expenses 2022: $501,970Net Income 2022: $83,9922022

Highlighted filing

2022

Revenue$585,962
Expenses$501,970
Net Income$83,992
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,102,631
Liabilities
$214,009
Net assets
$888,622
Revenue
$585,962
Expenses
$501,970
Net income
$83,992
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.21$0.89$0.59$0.50$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.29$0.81$0.47$0.40$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.19$0.74$0.44$0.41$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.21$0.72$0.46$0.39$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.22$0.64$0.41$0.36$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.83$0.24$0.59$0.38$0.34$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.03$0.62$0.36$0.32$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.63$0.04$0.59$0.35$0.31$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.59$0.04$0.55$0.34$0.32$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.06$0.53$0.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.00$0.00$0.02$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.09$0.36$0.26
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 9, 2023
Return Version
2022v5.0
Gross Receipts
$623,780
Mission and Program Overview

Mission

To provide water to members located in shelby county.

The mission of the water supply is to provide water service to a rural area of shelby county. The mission is to be able to provide a clean, safe water supply to the growing customer base.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$804,630$888,622▲ $83,992
Land, Buildings, and Equipment, Net$932,638$868,288▼ $64,350
Cash and Non-Interest-Bearing Accounts$16,929$112,133▲ $95,204
Accounts Receivable$92,377$111,756▲ $19,379
Prepaid Expenses and Deferred Charges$2,354$5,765▲ $3,411
Savings and Temporary Cash Investments$9,548$4,689▼ $4,859
Total Assets$1,053,846$1,102,631▲ $48,785
Liabilities
Mortgage Notes Payable Secured by Investment Property$172,549$134,911▼ $37,638
Other Liabilities$76,527$79,000▲ $2,473
Accounts Payable and Accrued Expenses$140$98▼ $42
Total Liabilities$249,216$214,009▼ $35,207
Net Assets / Fund Balance
Total Net Assets Fund Balance$804,630$888,622▲ $83,992
Total Liabilities and Net Assets / Fund Balance$1,053,846$1,102,631▲ $48,785

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$866,138$208,158$1,074,296
Equipment$1,450$627,400$628,850
Land$700-$700
Compensation and Service Providers
Top Officer Pay96th percentile

Board Members and Trustees

NameTitle
Eric GarrettPresident
Harold IrishDirector
Jim BowlinDirector
Jim SheffieldDirector
Becky BarkerTreasurer
Jimmy HamiltonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$583,768
Investment Income
$2,194
Other Revenue
$0
Change in Net Assets
$83,992
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$501,970
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$59,573
Other Expenses---$45,383
Depreciation Depletion---$26,532
Insurance---$5,543
Interest---$4,357
Fees for Services Accounting---$4,055
Office Expenses---$3,238
Total Functional Expenses$0$0$0$501,970
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
Memberships$79,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The corporation is a member owned nonprofit water corporation. There is only one class of memberships. There are approximately 500 members. Annually officers are elected from the membership to serve for a three year period.”

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

“The corporation is a member owned nonprofit water corporation. There is only one class of memberships. There are approximately 500 members. Annually officers are elected from the membership to serve for a three year period.”

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

“Changes to the bylaws would require membership approval. Day to day operations do not require membership approval.”

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

“Board president signs the tax return for the water corporation. Form 990 is available for the board members to review at a monthly board meeting.”

Form 990, Page 6, Part VI, Line 12C

“There is no written agreement with the board member and the water supply corporation. Conflict of interest is discussed in board meetings. For new members on the board, continuing education has to be obtained within 90 days of election.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, policies and financial statements can be requested in writing at the water office. Board of directors will evaluate the request and approve or disapprove the request.”

Filing and Contact Details

Filer

Filer Name
Paxton Water Supply Corporation
EIN
23-7111592
Phone
9365909177
Address
PO BOX 1138, CENTER, TX 75935

Signing Officer

Name
Eric Garrett
Title
President
Phone
0936590917
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Garrett
Formed
1967
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Redfield Miller & White Llp
Address
1116 N UNIVERSITY DR, NACOGDOCHES, TX 75961
Preparer
Clinton R White CPA
Phone
9365648186
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Utilities 17,549 0 0 bookkeeping 16,800 0 0 lab fees 6,418 0 0 voluntary fire contrib. 4,820 0 0 postage 4,086 0 0 dues 3,940 0 0 returns & refunds 3,332 0 0 propane 1,120 0 0 bank charges 795 0 0 telephone 563 0 0 turn on charges 150 0 0 total 59,573 0 0”

Raw XML Appendix313 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990ProvidedToGvrnBodyInd0true
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IRS990/GamingActivitiesInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS A MEMBER OWNED NONPROFIT WATER CORPORATION. THERE IS ONLY ONE CLASS OF MEMBERSHIPS. THERE ARE APPROXIMATELY 500 MEMBERS. ANNUALLY OFFICERS ARE ELECTED FROM THE MEMBERSHIP TO SERVE FOR A THREE YEAR PERIOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION IS A MEMBER OWNED NONPROFIT WATER CORPORATION. THERE IS ONLY ONE CLASS OF MEMBERSHIPS. THERE ARE APPROXIMATELY 500 MEMBERS. ANNUALLY OFFICERS ARE ELECTED FROM THE MEMBERSHIP TO SERVE FOR A THREE YEAR PERIOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHANGES TO THE BYLAWS WOULD REQUIRE MEMBERSHIP APPROVAL. DAY TO DAY OPERATIONS DO NOT REQUIRE MEMBERSHIP APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD PRESIDENT SIGNS THE TAX RETURN FOR THE WATER CORPORATION. FORM 990 IS AVAILABLE FOR THE BOARD MEMBERS TO REVIEW AT A MONTHLY BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE IS NO WRITTEN AGREEMENT WITH THE BOARD MEMBER AND THE WATER SUPPLY CORPORATION. CONFLICT OF INTEREST IS DISCUSSED IN BOARD MEETINGS. FOR NEW MEMBERS ON THE BOARD, CONTINUING EDUCATION HAS TO BE OBTAINED WITHIN 90 DAYS OF ELECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS CAN BE REQUESTED IN WRITING AT THE WATER OFFICE. BOARD OF DIRECTORS WILL EVALUATE THE REQUEST AND APPROVE OR DISAPPROVE THE REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UTILITIES 17,549 0 0 BOOKKEEPING 16,800 0 0 LAB FEES 6,418 0 0 VOLUNTARY FIRE CONTRIB. 4,820 0 0 POSTAGE 4,086 0 0 DUES 3,940 0 0 RETURNS & REFUNDS 3,332 0 0 PROPANE 1,120 0 0 BANK CHARGES 795 0 0 TELEPHONE 563 0 0 TURN ON CHARGES 150 0 0 TOTAL 59,573 0 0
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 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 24E
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01053846
IRS990/TotalAssetsEOYAmt01102631
IRS990/TotalAssetsGrp/BOYAmt01053846
IRS990/TotalAssetsGrp/EOYAmt01102631
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0501970
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0249216
IRS990/TotalLiabilitiesEOYAmt0214009
IRS990/TotalLiabilitiesGrp/BOYAmt0249216
IRS990/TotalLiabilitiesGrp/EOYAmt0214009
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0804630
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0888622
IRS990/TotalProgramServiceExpensesAmt0501970
IRS990/TotalProgramServiceRevenueAmt0583768
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0585962
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0585962
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01053846
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01102631
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt01779 CR 3340
IRS990/USAddress/CityNm0JOAQUIN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075954
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ERIC GARRETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum00936590917
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PAXTON WATER SUPPLY CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PAXT
ReturnHeader/Filer/EIN0237111592
ReturnHeader/Filer/PhoneNum09365909177
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1138
ReturnHeader/Filer/USAddress/CityNm0CENTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075935
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0752966974
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0REDFIELD MILLER & WHITE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01116 N UNIVERSITY DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NACOGDOCHES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075961
ReturnHeader/PreparerPersonGrp/PhoneNum09365648186
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CLINTON R WHITE CPA
ReturnHeader/ReturnTs02023-05-15T11:04:48-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ERIC
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GARRETT
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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