Civic Intelligence

Driftwood Utilities Inc

990 • Fiscal year 2020 • EIN 23-7319446

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 06, 2021

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

45th percentile

0.21x

Higher debt load relative to assets than 45% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

39th percentile

0.51x

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

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Net Margin

63rd percentile

13%

Higher net margin than 63% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

81st percentile

$12,400

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Asset Growth

66th percentile

3.0%

Faster asset growth than 66% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

77th percentile

12%

Faster revenue growth than 77% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$2,103,065

Up $60,628 (+3.0%) from 2019

Net Assets

Up

$1,654,900

Up $114,376 (+7.4%) from 2019

Liabilities

Down

$448,165

Down $53,748 (-11%) from 2019

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin63rd percentile

Revenue

Up

$885,733

Up $93,041 (+12%) from 2019

Expenses

Down

$772,227

Down $162,544 (-17%) from 2019

Net Income

Up

$113,506

Up $255,585 (+180%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth66th 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

2020

Assets$2,103,065
Liabilities$448,165
Net Assets$1,654,900
Open 2020 Filing

Operations Trend

Revenue Growth77th 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

2020

Revenue$885,733
Expenses$772,227
Net Income$113,506
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 6, 2021
Return Version
2020v4.0
Gross Receipts
$885,733
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$1,427,845$1,541,350▲ $113,505
Land, Buildings, and Equipment, Net$1,280,485$1,284,549▲ $4,064
Cash and Non-Interest-Bearing Accounts$535,594$493,618▼ $41,976
Savings and Temporary Cash Investments$212,983$316,178▲ $103,195
Pd in Cap Srpls Land Bldg Eqp Fund$112,679$113,550▲ $871
Accounts Receivable$12,318$8,570▼ $3,748
Intangible Assets$907--
Prepaid Expenses and Deferred Charges$150$150→ $0
Total Assets$2,042,437$2,103,065▲ $60,628
Liabilities
Other Liabilities$417,077$412,108▼ $4,969
Accounts Payable and Accrued Expenses$84,836$36,057▼ $48,779
Total Liabilities$501,913$448,165▼ $53,748
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,540,524$1,654,900▲ $114,376
Total Liabilities and Net Assets / Fund Balance$2,042,437$2,103,065▲ $60,628

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$965,043$736,284$1,701,327
Buildings$208,186$14,743$222,929
Land$80,700-$80,700
Equipment$30,620$41,340$71,960
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jason NewtonPresidentPT$12,400$12,400
Chris WestTreasurer &-$400$400
James StevensBoard Member-$400$400
Pat BryantBoard Member-$400$400
Roger BrandtSecretary &-$400$400
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$884,910
Investment Income
$823
Other Revenue
$0
Change in Net Assets
$113,506
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$671,713
Salaries, Compensation, and Employee Benefits$100,514
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$80,398--$80,398
Insurance$39,389--$39,389
Depreciation Depletion$33,854--$33,854
All Other Expenses$26,075--$26,075
Current Officers, Directors, Trustees, and Key Employees$14,000--$14,000
Fees for Services Legal$10,464--$10,464
Other Expenses$8,523--$8,523
Office Expenses$7,878--$7,878
Travel$6,578--$6,578
Payroll Taxes$6,116--$6,116
Fees for Services Accounting$3,300--$3,300
Total Functional Expenses$772,227$0$0$772,227
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$412,108
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
2021-07-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Newton
Formed
1970
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Horizon CPA Services Inc
Address
9745 RANDALL DR STE 140, CARMEL, IN 46280
Preparer
A Bradley Mares CPA
Phone
3176441468
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“MEMBERSHIP FEES 870”

Raw XML Appendix322 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 870
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0885733
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02042437
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02103065
IRS990/TravelGrp/ProgramServicesAmt06578
IRS990/TravelGrp/TotalAmt06578
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 446
IRS990/USAddress/CityNm0COLUMBUS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047202
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON NEWTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08125268177
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-07-06
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/PreparerFirmGrp/PreparerFirmEIN0204287594
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HORIZON CPA SERVICES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09745 RANDALL DR STE 140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CARMEL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046280
ReturnHeader/PreparerPersonGrp/PhoneNum03176441468
ReturnHeader/PreparerPersonGrp/PreparationDt02021-07-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0A BRADLEY MARES CPA
ReturnHeader/ReturnTs02021-07-14T10:36:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JASON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NEWTON
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,103,065
Liabilities
$448,165
Net assets
$1,654,900
Revenue
$885,733
Expenses
$772,227
Net income
$113,506
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