Civic Intelligence

Floyds Knobs Water Company Inc

990 • Fiscal year 2016 • EIN 35-1103388

Jan 01, 2016 to Dec 31, 2016 • Filed on May 04, 2017

Organization ProfileWWW.FLOYDSKNOBSWATER.COM
P O Box 115Floyds Knobs, IN 47119

(812) 923-9040

Siviq Scores

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

Liabilities / Assets

68th percentile

0.47x

Higher debt load relative to assets than 68% of similar nonprofits.

2016 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

72nd percentile

2.87x

Higher debt load relative to revenue than 72% of similar nonprofits.

2016 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2016

Net Margin

78th percentile

17%

Higher net margin than 78% of similar nonprofits.

2016 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

63rd percentile

$7,525

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2016 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

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

Source year 2016

Revenue Growth

Score unavailable

No value available

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

Source year 2016

Balance Sheet
Liabilities / Assets68th percentile

Assets

$8,982,728

No earlier filing loaded for comparison.

Net Assets

$4,802,103

No earlier filing loaded for comparison.

Liabilities

$4,180,625

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin78th percentile

Revenue

$1,459,174

No earlier filing loaded for comparison.

Expenses

$1,206,661

No earlier filing loaded for comparison.

Net Income

$252,513

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0Assets 2016: $8,982,728Liabilities 2016: $4,180,625Net Assets 2016: $4,802,1032016Assets 2017: $9,730,041Liabilities 2017: $4,749,013Net Assets 2017: $4,981,0282017Assets 2019: $9,653,178Liabilities 2019: $7,351,625Net Assets 2019: $2,301,5532019Assets 2020: $9,767,818Liabilities 2020: $7,143,766Net Assets 2020: $2,624,0522020Assets 2021: $10,007,023Liabilities 2021: $7,161,734Net Assets 2021: $2,845,2892021Assets 2022: $9,905,061Liabilities 2022: $6,928,847Net Assets 2022: $2,976,2142022Assets 2023: $10,670,009Liabilities 2023: $7,465,974Net Assets 2023: $3,204,0352023Assets 2024: $10,907,342Liabilities 2024: $7,578,952Net Assets 2024: $3,328,3902024

Highlighted filing

2016

Assets$8,982,728
Liabilities$4,180,625
Net Assets$4,802,103
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0Revenue 2016: $1,459,174Expenses 2016: $1,206,661Net Income 2016: $252,5132016Revenue 2017: $1,671,369Expenses 2017: $1,492,444Net Income 2017: $178,9252017Revenue 2019: $1,766,022Expenses 2019: $1,464,995Net Income 2019: $301,0272019Revenue 2020: $1,917,935Expenses 2020: $1,597,136Net Income 2020: $320,7992020Revenue 2021: $1,916,923Expenses 2021: $1,699,186Net Income 2021: $217,7372021Revenue 2022: $1,999,888Expenses 2022: $1,871,063Net Income 2022: $128,8252022Revenue 2023: $1,934,687Expenses 2023: $1,709,666Net Income 2023: $225,0212023Revenue 2024: $1,951,730Expenses 2024: $1,833,875Net Income 2024: $117,8552024

Highlighted filing

2016

Revenue$1,459,174
Expenses$1,206,661
Net Income$252,513
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 4, 2017
Return Version
2016v3.0
Gross Receipts
$1,459,174
Mission and Program Overview

Mission

Distribute water to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,010,215$7,956,435▲ $3,946,220
Pd in Cap Srpls Land Bldg Eqp Fund$2,917,037$2,899,842▼ $17,195
Rtn Earn Endowment Incm Other Fnds$1,632,553$1,902,261▲ $269,708
Savings and Temporary Cash Investments$431,211$661,134▲ $229,923
Accounts Receivable$105,130$112,095▲ $6,965
Inventories for Sale or Use$44,034$62,978▲ $18,944
Prepaid Expenses and Deferred Charges$7,130$8,770▲ $1,640
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Total Assets$7,904,910$8,982,728▲ $1,077,818
Other Assets Total$3,306,990$181,116▼ $3,125,874
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,486,246$3,768,398▲ $1,282,152
Accounts Payable and Accrued Expenses$869,074$412,227▼ $456,847
Total Liabilities$3,355,320$4,180,625▲ $825,305
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,549,590$4,802,103▲ $252,513
Total Liabilities and Net Assets / Fund Balance$7,904,910$8,982,728▲ $1,077,818

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,945,847$1,951,856$8,897,703
Buildings$520,619$83,836$604,455
Equipment$199,629$227,313$426,942
Land$290,340-$290,340
Leasehold Improvements-$7,532$7,532
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleBaseTotal
C Rick MorganPresident$7,525$7,525
Mike BanetVice Preside$3,250$3,250
David CullDirector$1,800$1,800
Gayle S PearlDirector$1,400$1,400
Mike ShearerDirector$1,400$1,400
Kirk ShafferDirector$1,200$1,200
Berneta L StillmanSecretary/tr$875$875
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,458,645
Investment Income
$529
Other Revenue
$0
Change in Net Assets
$252,513

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,396,443
Revenue Not Reported on Financial Statements
$62,731
Other Revenue Adjustments
$62,731
Total Revenue per Audited Statements
$1,396,443
Total Revenue per Form 990
$1,459,174
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,065,611
Salaries, Compensation, and Employee Benefits$141,050
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$168,704
Other Salaries and Wages---$112,864
Fees for Services Other---$38,353
Fees for Services Accounting---$28,654
Office Expenses---$18,129
Current Officers, Directors, Trustees, and Key Employees---$15,650
Fees for Services Legal---$13,846
Occupancy---$12,876
Insurance---$11,732
Travel---$9,157
Payroll Taxes---$8,993
Other Employee Benefits---$3,543
Other Expenses---$1,440
Conferences and Meetings---$217
Interest---$79
All Other Expenses---$-145
Total Functional Expenses$0$0$0$1,206,661

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,206,661
Expenses per Audited Statements$1,206,660
Total Expenses per Audited Statements$1,206,660
Expenses Not Reported on Financial Statements$1
Other Expense Adjustments$1
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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

“The membership consists of customers serviced by the utility.”

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

“Members of the water utility elect the board of directors”

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

“Duties of members and the board of directors are defined in the company's rules and regulations and bylaws”

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

“NO REVIEW PROCESS”

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

“The board of directors review employee and officer compensation and approve changes to compensation annually”

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

“The board of directors review employee and officer compensation and approve changes to compensation annually”

Form 990, Page 6, Part VI, Line 19

“Membership may request copies of governing documents at the company's main office”

Filing and Contact Details

Filer

Filer Name
Floyds Knobs Water Company Inc
EIN
35-1103388
Phone
8129239040
Address
P O BOX 115, FLOYDS KNOBS, IN 47119

Signing Officer

Name
C Rick Morgan
Title
President
Phone
8129239040
Signed
2017-05-04

Organization Details

Principal Officer
C Rick Morgan
Formed
1961
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
5

Preparer

Firm
Sherman Barber & Mullikin Pc
Address
210 W 3RD ST, MADISON, IN 47250-3339
Preparer
Tracy L Wyne CPA
Phone
8122655312
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The corporation sold approximately 175,733,800 gallons of water to aproximately 2,302 customers.”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

“Memberships 4,200 tap fees 58,531”

Schedule D, Page 4, Part XII, Line 4B

“ROUNDING 1”

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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/ExplanationTxt0THE CORPORATION SOLD APPROXIMATELY 175,733,800 GALLONS OF WATER TO APROXIMATELY 2,302 CUSTOMERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERSHIP CONSISTS OF CUSTOMERS SERVICED BY THE UTILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS OF THE WATER UTILITY ELECT THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DUTIES OF MEMBERS AND THE BOARD OF DIRECTORS ARE DEFINED IN THE COMPANY'S RULES AND REGULATIONS AND BYLAWS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW PROCESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEW EMPLOYEE AND OFFICER COMPENSATION AND APPROVE CHANGES TO COMPENSATION ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS REVIEW EMPLOYEE AND OFFICER COMPENSATION AND APPROVE CHANGES TO COMPENSATION ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MEMBERSHIP MAY REQUEST COPIES OF GOVERNING DOCUMENTS AT THE COMPANY'S MAIN OFFICE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07904910
IRS990/TotalAssetsEOYAmt08982728
IRS990/TotalAssetsGrp/BOYAmt07904910
IRS990/TotalAssetsGrp/EOYAmt08982728
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01206661
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03355320
IRS990/TotalLiabilitiesEOYAmt04180625
IRS990/TotalLiabilitiesGrp/BOYAmt03355320
IRS990/TotalLiabilitiesGrp/EOYAmt04180625
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04549590
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04802103
IRS990/TotalProgramServiceRevenueAmt01458645
IRS990/TotalReportableCompFromOrgAmt017450
IRS990/TotalRevenueGrp/ExclusionAmt0529
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01458645
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01459174
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07904910
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08982728
IRS990/TravelGrp/TotalAmt09157
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 115
IRS990/USAddress/CityNm0FLOYDS KNOBS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047119
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0C RICK MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08129239040
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLOYDS KNOBS WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0FLOY
ReturnHeader/Filer/EIN0351103388
ReturnHeader/Filer/PhoneNum08129239040
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 115
ReturnHeader/Filer/USAddress/CityNm0FLOYDS KNOBS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047119
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId09133A05BD12DE695BAF1ECC2D31FEE48F9B822CB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AC4DBA24EA2BE5743A49E2BF41F80369EDE5E034
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351900977
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHERMAN BARBER & MULLIKIN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0210 W 3RD ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MADISON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0472503339
ReturnHeader/PreparerPersonGrp/PhoneNum08122655312
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACY L WYNE CPA
ReturnHeader/ReturnTs02017-05-08T15:14:57-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,982,728
Liabilities
$4,180,625
Net assets
$4,802,103
Revenue
$1,459,174
Expenses
$1,206,661
Net income
$252,513
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.9$7.58$3.33$1.95$1.83$0.12
2023Detailed filing. Detailed filing data is available for this year.$10.7$7.47$3.20$1.93$1.71$0.23
2022Detailed filing. Detailed filing data is available for this year.$9.91$6.93$2.98$2.00$1.87$0.13
2021Detailed filing. Detailed filing data is available for this year.$10.0$7.16$2.85$1.92$1.70$0.22
2020Detailed filing. Detailed filing data is available for this year.$9.77$7.14$2.62$1.92$1.60$0.32
2019Detailed filing. Detailed filing data is available for this year.$9.65$7.35$2.30$1.77$1.46$0.30
2017Detailed filing. Detailed filing data is available for this year.$9.73$4.75$4.98$1.67$1.49$0.18
2016Detailed filing. Detailed filing data is available for this year.$8.98$4.18$4.80$1.46$1.21$0.25