Civic Intelligence

Driftwood Utilities Inc

990 • Fiscal year 2019 • EIN 23-7319446

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 25, 2020

Organization ProfileN/A
PO Box 446Columbus, IN 47202

(812) 526-8177

Siviq Scores

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

Liabilities / Assets

50th percentile

0.25x

Higher debt load relative to assets than 50% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

41st percentile

0.63x

Higher debt load relative to revenue than 41% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Net Margin

12th percentile

-18%

Higher net margin than 12% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$12,475

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Asset Growth

7th percentile

-5.7%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

23rd percentile

-4.5%

Faster revenue growth than 23% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$2,042,437

Down $124,323 (-5.7%) from 2018

Net Assets

Down

$1,540,524

Down $139,829 (-8.3%) from 2018

Liabilities

Up

$501,913

Up $15,506 (+3.2%) from 2018

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin12th percentile

Revenue

Down

$792,692

Down $37,400 (-4.5%) from 2018

Expenses

Up

$934,771

Up $182,842 (+24%) from 2018

Net Income

Down

-$142,079

Down $220,242 (-282%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$3.0M$2.0M$1.0M$0Assets 2017: $2,053,061Liabilities 2017: $451,970Net Assets 2017: $1,601,0912017Assets 2018: $2,166,760Liabilities 2018: $486,407Net Assets 2018: $1,680,3532018Assets 2019: $2,042,437Liabilities 2019: $501,913Net Assets 2019: $1,540,5242019Assets 2020: $2,103,065Liabilities 2020: $448,165Net Assets 2020: $1,654,9002020Assets 2021: $2,085,638Liabilities 2021: $406,821Net Assets 2021: $1,678,8172021Assets 2022: $1,968,219Liabilities 2022: $448,509Net Assets 2022: $1,519,7102022Assets 2023: $1,821,048Liabilities 2023: $437,752Net Assets 2023: $1,383,2962023Assets 2024: $1,672,780Liabilities 2024: $452,362Net Assets 2024: $1,220,4182024

Highlighted filing

2019

Assets$2,042,437
Liabilities$501,913
Net Assets$1,540,524
Open 2019 Filing

Operations Trend

Revenue Growth23rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $823,999Expenses 2017: $694,758Net Income 2017: $129,2412017Revenue 2018: $830,092Expenses 2018: $751,929Net Income 2018: $78,1632018Revenue 2019: $792,692Expenses 2019: $934,771Net Income 2019: -$142,0792019Revenue 2020: $885,733Expenses 2020: $772,227Net Income 2020: $113,5062020Revenue 2021: $928,361Expenses 2021: $904,844Net Income 2021: $23,5172021Revenue 2022: $943,808Expenses 2022: $1,102,815Net Income 2022: -$159,0072022Revenue 2023: $937,637Expenses 2023: $1,074,201Net Income 2023: -$136,5642023Revenue 2024: $994,868Expenses 2024: $1,158,699Net Income 2024: -$163,8312024

Highlighted filing

2019

Revenue$792,692
Expenses$934,771
Net Income-$142,079
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 25, 2020
Return Version
2019v5.0
Gross Receipts
$792,692
Mission and Program Overview

Mission

The sole purpose of the organization is to provide sewage treatment and disposal services to its members in the taylorsville, indiana area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,569,924$1,427,845▼ $142,079
Land, Buildings, and Equipment, Net$1,226,538$1,280,485▲ $53,947
Cash and Non-Interest-Bearing Accounts$698,395$535,594▼ $162,801
Savings and Temporary Cash Investments$166,682$212,983▲ $46,301
Pd in Cap Srpls Land Bldg Eqp Fund$110,429$112,679▲ $2,250
Accounts Receivable$71,922$12,318▼ $59,604
Intangible Assets$3,073$907▼ $2,166
Prepaid Expenses and Deferred Charges$150$150→ $0
Total Assets$2,166,760$2,042,437▼ $124,323
Liabilities
Other Liabilities$413,758$417,077▲ $3,319
Accounts Payable and Accrued Expenses$72,649$84,836▲ $12,187
Total Liabilities$486,407$501,913▲ $15,506
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,680,353$1,540,524▼ $139,829
Total Liabilities and Net Assets / Fund Balance$2,166,760$2,042,437▼ $124,323

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$954,631$699,956$1,654,587
Land$80,700-$80,700
Equipment$34,681$37,279$71,960
Buildings$27,062$11,456$38,518
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jason NewtonPresidentPT$12,475$12,475
Pat BryantBoard Member-$475$475
Chris WestTreasurer &-$450$450
Roger BrandtSecretary &-$450$450
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$792,335
Investment Income
$357
Other Revenue
$0
Change in Net Assets
$-142,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$835,456
Salaries, Compensation, and Employee Benefits$99,315
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$79,591--$79,591
All Other Expenses$37,480--$37,480
Insurance$31,185--$31,185
Depreciation Depletion$29,795--$29,795
Current Officers, Directors, Trustees, and Key Employees$13,850--$13,850
Other Expenses$9,808--$9,808
Travel$8,554--$8,554
Office Expenses$7,071--$7,071
Payroll Taxes$5,874--$5,874
Fees for Services Accounting$4,650--$4,650
Advertising$406--$406
Fees for Services Legal$106--$106
Total Functional Expenses$934,771$0$0$934,771
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
Contributions in Aid of Construction$417,077
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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

“Driftwood utilities, inc. Is a member owned tax exempt organization.”

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

“Members elect board positions.”

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

“Certain decisions require membership approval.”

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

“Form 990 reviewed by board prior to signing and filing of return.”

Form 990, Page 6, Part VI, Line 15A

“Board approves all compensation to employees and directors.”

Form 990, Page 6, Part VI, Line 15B

“Board approves all compensation to employees and directors.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Driftwood Utilities Inc
EIN
23-7319446
Phone
8125268177
Address
PO BOX 446, COLUMBUS, IN 47202

Signing Officer

Name
Jason Newton
Title
President
Phone
8125268177
Signed
2020-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Newton
Formed
1970
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
2

Preparer

Firm
Horizon CPA Services Inc
Address
9745 RANDALL DR SUITE 140, INDIANAPOLIS, IN 46280-2944
Preparer
A Bradley Mares CPA
Phone
3176441468
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“MEMBERSHIP FEES 2,250”

Raw XML Appendix323 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRIFTWOOD UTILITIES, INC. IS A MEMBER OWNED TAX EXEMPT ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT BOARD POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CERTAIN DECISIONS REQUIRE MEMBERSHIP APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 REVIEWED BY BOARD PRIOR TO SIGNING AND FILING OF RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD APPROVES ALL COMPENSATION TO EMPLOYEES AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD APPROVES ALL COMPENSATION TO EMPLOYEES AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MEMBERSHIP FEES 2,250
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IRS990/TravelGrp/TotalAmt08554
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 446
IRS990/USAddress/CityNm0COLUMBUS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047202
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON NEWTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08125268177
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DRIFTWOOD UTILITIES INC
ReturnHeader/Filer/BusinessNameControlTxt0DRIF
ReturnHeader/Filer/EIN0237319446
ReturnHeader/Filer/PhoneNum08125268177
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 446
ReturnHeader/Filer/USAddress/CityNm0COLUMBUS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047202
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId03572BEBB2CE418BF6DE9908884FB162166186B54
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId042DA7E3E67F84DFB9B95F96E584EDCDC63013FB4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-09-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:28:29
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204287594
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HORIZON CPA SERVICES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09745 RANDALL DR SUITE 140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0462802944
ReturnHeader/PreparerPersonGrp/PhoneNum03176441468
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0A BRADLEY MARES CPA
ReturnHeader/ReturnTs02020-09-04T10:28:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,042,437
Liabilities
$501,913
Net assets
$1,540,524
Revenue
$792,692
Expenses
$934,771
Net income
-$142,079
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.67$0.45$1.22$0.99$1.16$0.16
2023Detailed filing. Detailed filing data is available for this year.$1.82$0.44$1.38$0.94$1.07$0.14
2022Detailed filing. Detailed filing data is available for this year.$1.97$0.45$1.52$0.94$1.10$0.16
2021Detailed filing. Detailed filing data is available for this year.$2.09$0.41$1.68$0.93$0.90$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.10$0.45$1.65$0.89$0.77$0.11
2019Detailed filing. Detailed filing data is available for this year.$2.04$0.50$1.54$0.79$0.93$0.14
2018Detailed filing. Detailed filing data is available for this year.$2.17$0.49$1.68$0.83$0.75$0.08
2017Detailed filing. Detailed filing data is available for this year.$2.05$0.45$1.60$0.82$0.69$0.13