Civic Intelligence

Driftwood Utilities Inc

990 • Fiscal year 2021 • EIN 23-7319446

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 22, 2022

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

46th percentile

0.20x

Higher debt load relative to assets than 46% of similar nonprofits.

2021 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

38th percentile

0.44x

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

2021 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2021

Net Margin

39th percentile

2.5%

Higher net margin than 39% of similar nonprofits.

2021 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

82nd percentile

$12,450

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2021 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2021

Asset Growth

36th percentile

-0.8%

Faster asset growth than 36% of similar nonprofits.

2021 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

56th percentile

4.8%

Faster revenue growth than 56% of similar nonprofits.

2021 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$2,085,638

Down $17,427 (-0.8%) from 2020

Net Assets

Up

$1,678,817

Up $23,917 (+1.4%) from 2020

Liabilities

Down

$406,821

Down $41,344 (-9.2%) from 2020

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin39th percentile

Revenue

Up

$928,361

Up $42,628 (+4.8%) from 2020

Expenses

Up

$904,844

Up $132,617 (+17%) from 2020

Net Income

Down

$23,517

Down $89,989 (-79%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth36th 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

2021

Assets$2,085,638
Liabilities$406,821
Net Assets$1,678,817
Open 2021 Filing

Operations Trend

Revenue Growth56th 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

2021

Revenue$928,361
Expenses$904,844
Net Income$23,517
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 22, 2022
Return Version
2021v4.0
Gross Receipts
$928,361
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$1,541,350$1,564,867▲ $23,517
Land, Buildings, and Equipment, Net$1,284,549$1,221,952▼ $62,597
Cash and Non-Interest-Bearing Accounts$493,618$527,566▲ $33,948
Savings and Temporary Cash Investments$316,178$320,628▲ $4,450
Pd in Cap Srpls Land Bldg Eqp Fund$113,550$113,950▲ $400
Accounts Receivable$8,570$15,342▲ $6,772
Prepaid Expenses and Deferred Charges$150$150→ $0
Total Assets$2,103,065$2,085,638▼ $17,427
Liabilities
Other Liabilities$412,108$403,726▼ $8,382
Accounts Payable and Accrued Expenses$36,057$3,095▼ $32,962
Total Liabilities$448,165$406,821▼ $41,344
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,654,900$1,678,817▲ $23,917
Total Liabilities and Net Assets / Fund Balance$2,103,065$2,085,638▼ $17,427

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$911,667$771,358$1,683,025
Buildings$202,785$20,144$222,929
Land$80,700-$80,700
Equipment$26,560$45,400$71,960
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jason NewtonPresidentPT$12,450$12,450
James StevensVice Preside-$450$450
Pat BryantBoard Member-$425$425
Chris WestTreasurer &-$375$375
Roger BrandtSecretary &-$375$375
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$927,289
Investment Income
$1,072
Other Revenue
$0
Change in Net Assets
$23,517
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$794,942
Salaries, Compensation, and Employee Benefits$109,902
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$87,044--$87,044
All Other Expenses$38,227--$38,227
Insurance$35,245--$35,245
Depreciation Depletion$33,753--$33,753
Current Officers, Directors, Trustees, and Key Employees$14,075--$14,075
Travel$12,083--$12,083
Other Expenses$10,054--$10,054
Office Expenses$8,843--$8,843
Payroll Taxes$8,783--$8,783
Fees for Services Accounting$5,700--$5,700
Fees for Services Legal$4,648--$4,648
Total Functional Expenses$904,844$0$0$904,844
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$403,726
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
2022-07-22
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
3

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 400”

Raw XML Appendix325 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 400
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IRS990/TotalProgramServiceRevenueAmt0927289
IRS990/TotalReportableCompFromOrgAmt014075
IRS990/TotalRevenueGrp/ExclusionAmt01072
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0927289
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0928361
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02103065
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02085638
IRS990/TravelGrp/ProgramServicesAmt012083
IRS990/TravelGrp/TotalAmt012083
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/SignatureDt02022-07-22
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/PreparationDt02022-08-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0A BRADLEY MARES CPA
ReturnHeader/ReturnTs02022-08-01T10:32:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JASON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NEWTON
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,085,638
Liabilities
$406,821
Net assets
$1,678,817
Revenue
$928,361
Expenses
$904,844
Net income
$23,517
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