Civic Intelligence

Floyds Knobs Water Company Inc

990 • Fiscal year 2017 • EIN 35-1103388

Jan 01, 2017 to Dec 31, 2017 • Filed on May 14, 2018

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

74th percentile

0.49x

Higher debt load relative to assets than 74% of similar nonprofits.

2017 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

2.84x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2017

Net Margin

63rd percentile

11%

Higher net margin than 63% of similar nonprofits.

2017 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

60th percentile

$5,950

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2017 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2017

Asset Growth

86th percentile

8.3%

Faster asset growth than 86% of similar nonprofits.

2017 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

79th percentile

15%

Faster revenue growth than 79% of similar nonprofits.

2017 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$9,730,041

Up $747,313 (+8.3%) from 2016

Net Assets

Up

$4,981,028

Up $178,925 (+3.7%) from 2016

Liabilities

Up

$4,749,013

Up $568,388 (+14%) from 2016

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin63rd percentile

Revenue

Up

$1,671,369

Up $212,195 (+15%) from 2016

Expenses

Up

$1,492,444

Up $285,783 (+24%) from 2016

Net Income

Down

$178,925

Down $73,588 (-29%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

2017

Assets$9,730,041
Liabilities$4,749,013
Net Assets$4,981,028
Open 2017 Filing

Operations Trend

Revenue Growth79th percentile

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

2017

Revenue$1,671,369
Expenses$1,492,444
Net Income$178,925
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 14, 2018
Return Version
2017v2.3
Gross Receipts
$1,672,583
Mission and Program Overview

Mission

Distribute water to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,956,435$8,896,301▲ $939,866
Pd in Cap Srpls Land Bldg Eqp Fund$2,899,842$3,085,772▲ $185,930
Rtn Earn Endowment Incm Other Fnds$1,902,261$1,895,256▼ $7,005
Savings and Temporary Cash Investments$661,134$661,719▲ $585
Accounts Receivable$112,095$113,397▲ $1,302
Inventories for Sale or Use$62,978$49,557▼ $13,421
Prepaid Expenses and Deferred Charges$8,770$8,867▲ $97
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Total Assets$8,982,728$9,730,041▲ $747,313
Other Assets Total$181,116--
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,768,398$4,439,109▲ $670,711
Accounts Payable and Accrued Expenses$412,227$309,904▼ $102,323
Total Liabilities$4,180,625$4,749,013▲ $568,388
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,802,103$4,981,028▲ $178,925
Total Liabilities and Net Assets / Fund Balance$8,982,728$9,730,041▲ $747,313

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,925,723$2,119,359$10,045,082
Buildings$507,495$98,046$605,541
Equipment$172,743$254,199$426,942
Land$290,340-$290,340
Leasehold Improvements-$7,532$7,532
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleBaseTotal
C Rick MorganPresident$5,950$5,950
Mike ShearerVice Preside$1,500$1,500
Gayle S PearlDirector$1,300$1,300
Kirk ShafferDirector$1,300$1,300
Berneta L StillmanSecretary/tr$1,250$1,250
David CullDirector$1,200$1,200
Ryan PfeiferDirector$1,100$1,100
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,669,115
Investment Income
$2,254
Other Revenue
$0
Change in Net Assets
$178,925

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,450,638
Revenue Not Reported on Financial Statements
$220,731
Other Revenue Adjustments
$220,731
Total Revenue per Audited Statements
$1,450,638
Total Revenue per Form 990
$1,671,369
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,337,427
Salaries, Compensation, and Employee Benefits$155,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$208,720
Other Salaries and Wages---$128,050
Interest---$71,799
Fees for Services Other---$55,632
Fees for Services Accounting---$27,670
Office Expenses---$20,349
Insurance---$16,962
Current Officers, Directors, Trustees, and Key Employees---$13,600
Occupancy---$12,509
Travel---$11,246
Payroll Taxes---$10,243
Fees for Services Legal---$9,775
Other Employee Benefits---$3,124
All Other Expenses---$2,892
Other Expenses---$2,325
Conferences and Meetings---$638
Total Functional Expenses$0$0$0$1,492,444

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,492,444
Expenses per Audited Statements$1,492,441
Total Expenses per Audited Statements$1,492,441
Expenses Not Reported on Financial Statements$3
Other Expense Adjustments$3
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
2018-05-14

Organization Details

Principal Officer
C Rick Morgan
Formed
1961
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
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 180,815,000 gallons of water to aproximately 2,329 customers.”

Financial Statement Notes

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

“Memberships 2,300 tap fees 218,430 rounding 1”

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

“ROUNDING 3”

Raw XML Appendix354 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MEMBERSHIPS 2,300 TAP FEES 218,430 ROUNDING 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING 3
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08896301
IRS990ScheduleD/TotalExpensesPerForm990Amt01492444
IRS990ScheduleD/TotalRevenuePerForm990Amt01671369
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01450638
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01492441
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION SOLD APPROXIMATELY 180,815,000 GALLONS OF WATER TO APROXIMATELY 2,329 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/TotalAssetsBOYAmt08982728
IRS990/TotalAssetsEOYAmt09730041
IRS990/TotalAssetsGrp/BOYAmt08982728
IRS990/TotalAssetsGrp/EOYAmt09730041
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01492444
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04180625
IRS990/TotalLiabilitiesEOYAmt04749013
IRS990/TotalLiabilitiesGrp/BOYAmt04180625
IRS990/TotalLiabilitiesGrp/EOYAmt04749013
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04802103
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04981028
IRS990/TotalProgramServiceRevenueAmt01669115
IRS990/TotalReportableCompFromOrgAmt013600
IRS990/TotalRevenueGrp/ExclusionAmt01754
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01669615
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01671369
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08982728
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09730041
IRS990/TravelGrp/TotalAmt011246
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 115
IRS990/USAddress/CityNm0FLOYDS KNOBS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047119
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0C RICK MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08129239040
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-14
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/AtSubmissionCreationDeviceId0BD0A6391B3274C46CEB943BF68C65F094BAD7A4F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AC4DBA24EA2BE5743A49E2BF41F80369EDE5E034
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.174.133.146
ReturnHeader/FilingSecurityInformation/IPDt02018-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:16:44
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/PreparationDt02018-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACY L WYNE CPA
ReturnHeader/ReturnTs02018-05-14T16:16:44-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,730,041
Liabilities
$4,749,013
Net assets
$4,981,028
Revenue
$1,671,369
Expenses
$1,492,444
Net income
$178,925
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