Civic Intelligence

Floyds Knobs Water Company Inc

990 • Fiscal year 2019 • EIN 35-1103388

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 28, 2020

Organization ProfileWWW.FLOYDSKNOBSWATER.COM
4781 Paoli Pike No 1Floyds Knobs, IN 47119

(812) 923-9040

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.76x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

4.16x

Higher debt load relative to revenue than 85% of similar nonprofits.

2019 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2019

Net Margin

74th percentile

17%

Higher net margin than 74% of similar nonprofits.

2019 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

75th percentile

$65,443

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2019 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2019

Asset Growth

40th percentile

-0.4%

Faster asset growth than 40% of similar nonprofits.

2019 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2017 to 2019

Revenue Growth

53rd percentile

2.8%

Faster revenue growth than 53% of similar nonprofits.

2019 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2017 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$9,653,178

Down $76,863 (-0.8%) from 2017

Net Assets

Down

$2,301,553

Down $2,679,475 (-54%) from 2017

Liabilities

Up

$7,351,625

Up $2,602,612 (+55%) from 2017

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin74th percentile

Revenue

Up

$1,766,022

Up $94,653 (+5.7%) from 2017

Expenses

Down

$1,464,995

Down $27,449 (-1.8%) from 2017

Net Income

Up

$301,027

Up $122,102 (+68%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2019

Assets$9,653,178
Liabilities$7,351,625
Net Assets$2,301,553
Open 2019 Filing

Operations Trend

Revenue Growth53rd 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

2019

Revenue$1,766,022
Expenses$1,464,995
Net Income$301,027
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 28, 2020
Return Version
2019v5.1
Gross Receipts
$1,766,022
Mission and Program Overview

Mission

Distribute water to members

Provides metered water service to approximately 2,400 members on a cooperative basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,719,952$8,566,395▼ $153,557
Rtn Earn Endowment Incm Other Fnds$1,801,161$2,102,188▲ $301,027
Savings and Temporary Cash Investments$620,141$908,281▲ $288,140
Cap Stk Tr Prin Current Funds$197,265$199,365▲ $2,100
Accounts Receivable$108,194$133,062▲ $24,868
Inventories for Sale or Use$33,659$34,283▲ $624
Prepaid Expenses and Deferred Charges$12,071$10,957▼ $1,114
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$9,494,217$9,653,178▲ $158,961
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,315,600$4,146,188▼ $169,412
Other Liabilities$3,050,583$3,081,633▲ $31,050
Accounts Payable and Accrued Expenses$129,608$123,804▼ $5,804
Total Liabilities$7,495,791$7,351,625▼ $144,166
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,998,426$2,301,553▲ $303,127
Total Liabilities and Net Assets / Fund Balance$9,494,217$9,653,178▲ $158,961

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,647,324$2,464,285$10,111,609
Buildings$478,268$128,464$606,732
Equipment$150,463$317,284$467,747
Land$290,340-$290,340
Leasehold Improvements$0$7,532$7,532
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Danny StandifordGeneral ManagerFT$65,443$65,443
Rick MorganPresident-$3,150$3,150
Gayle PearlSecretary/treasurer-$2,000$2,000
Mike ShearerDirector-$1,625$1,625
Ryan PfeiferDirector-$1,300$1,300
David CullDirector-$1,200$1,200
Kirk ShafferDirector-$1,200$1,200
Mark AmmonsDirector-$1,200$1,200
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,758,462
Investment Income
$7,560
Other Revenue
$0
Change in Net Assets
$301,027

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,766,022
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,766,022
Total Revenue per Form 990
$1,766,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,283,813
Salaries, Compensation, and Employee Benefits$181,182
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$220,033
Interest---$95,354
Other Salaries and Wages---$85,638
Current Officers, Directors, Trustees, and Key Employees---$77,118
All Other Expenses---$37,517
Fees for Services Accounting---$18,990
Office Expenses---$18,203
Other Expenses---$17,193
Insurance---$16,825
Fees for Services Legal---$16,550
Payroll Taxes---$12,045
Other Employee Benefits---$4,530
Pension Plan Contributions---$1,851
Conferences and Meetings---$1,228
Total Functional Expenses$0$0$0$1,464,995

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,464,995
Total Expenses per Audited Statements$1,464,995
Total Expenses per Form 990$1,464,995
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$3,081,633
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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, Part VI, Section A, Line 6

“Floyds knobs water corporation, inc is a cooperative owned by approximately 2,400 members”

Form 990, Part VI, Section A, Line 7A

“All members are entitled to vote for the board of directors at its annual meeting”

Form 990, Part VI, Section A, Line 7B

“Governance decisions are subject to approval by the governing body”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the board of directors prior to filing with the irs”

Form 990, Part VI, Section B, Line 15

“A compensation committee sets all salaries for approval by the entire board of directors.”

Form 990, Part VI, Section C, Line 19

“All governing documents and the annual audited financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Floyds Knobs Water Company Inc
EIN
35-1103388
Phone
8129239040
Address
4781 PAOLI PIKE NO 1, FLOYDS KNOBS, IN 47119

Signing Officer

Name
Rick Morgan
Title
President
Phone
8129239040
Signed
2020-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Morgan
Formed
1961
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
5
Volunteers
0

Preparer

Firm
MONROE SHINE & CO INC CPA'S
Address
PO BOX 1407, NEW ALBANY, IN 47151-1407
Preparer
Joe a Boesing CPA
Phone
8129452311
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Increase in memberships 2,100.”

Form 990, Part XI, Line 2C

“No change from the prior year”

Financial Statement Notes

PART X, LINE 2:

“The company had no uncertain tax positions at 12/31/19”

Raw XML Appendix378 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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IRS990/ActivityOrMissionDesc0PROVIDES METERED WATER SERVICE TO APPROXIMATELY 2,400 MEMBERS ON A COOPERATIVE BASIS.
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IRS990/MissionDesc0FLOYDS KNOBS WATER COMPANY TAKES GREAT PRIDE IN PROVIDING THE BEST SERVICE AND WE HOLD OURSELVES TO THE HIGHEST STANADARDS IN DELIVERING SAFE, CLEAN, RELIABLE AND AFFORDABLE DRINKING WATER TO OUR CUSTOMERS.
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0467747
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01464995
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0290340
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0290340
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07532
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07532
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt07647324
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02464285
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt010111609
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03081633
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRIBUTIONS IN AID OF CONSTRUCTION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01766022
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY HAD NO UNCERTAIN TAX POSITIONS AT 12/31/19
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08566395
IRS990ScheduleD/TotalExpensesPerForm990Amt01464995
IRS990ScheduleD/TotalLiabilityAmt03081633
IRS990ScheduleD/TotalRevenuePerForm990Amt01766022
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01766022
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01464995
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FLOYDS KNOBS WATER CORPORATION, INC IS A COOPERATIVE OWNED BY APPROXIMATELY 2,400 MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS ARE ENTITLED TO VOTE FOR THE BOARD OF DIRECTORS AT ITS ANNUAL MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNANCE DECISIONS ARE SUBJECT TO APPROVAL BY THE GOVERNING BODY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COMPENSATION COMMITTEE SETS ALL SALARIES FOR APPROVAL BY THE ENTIRE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL GOVERNING DOCUMENTS AND THE ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INCREASE IN MEMBERSHIPS 2,100.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NO CHANGE FROM THE PRIOR YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09494217
IRS990/TotalAssetsEOYAmt09653178
IRS990/TotalAssetsGrp/BOYAmt09494217
IRS990/TotalAssetsGrp/EOYAmt09653178
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/TotalAmt01464995
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07495791
IRS990/TotalLiabilitiesEOYAmt07351625
IRS990/TotalLiabilitiesGrp/BOYAmt07495791
IRS990/TotalLiabilitiesGrp/EOYAmt07351625
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01998426
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02301553
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt01758462
IRS990/TotalReportableCompFromOrgAmt077118
IRS990/TotalRevenueGrp/ExclusionAmt07560
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01758462
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01766022
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09494217
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09653178
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04781 PAOLI PIKE NO 1
IRS990/USAddress/CityNm0FLOYDS KNOBS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047119
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.FLOYDSKNOBSWATER.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08129239040
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLOYDS KNOBS WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0FLOY
ReturnHeader/Filer/EIN0351103388
ReturnHeader/Filer/PhoneNum08129239040
ReturnHeader/Filer/USAddress/AddressLine1Txt04781 PAOLI PIKE NO 1
ReturnHeader/Filer/USAddress/CityNm0FLOYDS KNOBS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047119
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06C9B1A35775087DBDB8A6D25ECA509C7F6C27838
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.143.169.226
ReturnHeader/FilingSecurityInformation/IPDt02020-09-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm013:26:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351515068
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MONROE SHINE & CO INC CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1407
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW ALBANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0471511407
ReturnHeader/PreparerPersonGrp/PhoneNum08129452311
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOE A BOESING CPA
ReturnHeader/ReturnTs02020-10-08T11:24:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$9,653,178
Liabilities
$7,351,625
Net assets
$2,301,553
Revenue
$1,766,022
Expenses
$1,464,995
Net income
$301,027
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