Civic Intelligence

Floyds Knobs Water Company Inc

990 • Fiscal year 2021 • EIN 35-1103388

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 08, 2022

Organization ProfileWWW.FLOYDSKNOBSWATER.COM
4781 Paoli Pike 1 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

96th percentile

0.72x

Higher debt load relative to assets than 96% of similar nonprofits.

2021 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

3.74x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2021

Net Margin

55th percentile

11%

Higher net margin than 55% of similar nonprofits.

2021 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

48th percentile

$66,065

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2021 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2021

Asset Growth

55th percentile

2.4%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

33rd percentile

-0.1%

Faster revenue growth than 33% of similar nonprofits.

2021 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$10,007,023

Up $239,205 (+2.4%) from 2020

Net Assets

Up

$2,845,289

Up $221,237 (+8.4%) from 2020

Liabilities

Up

$7,161,734

Up $17,968 (+0.3%) from 2020

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin55th percentile

Revenue

Down

$1,916,923

Down $1,012 (-0.1%) from 2020

Expenses

Up

$1,699,186

Up $102,050 (+6.4%) from 2020

Net Income

Down

$217,737

Down $103,062 (-32%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2021

Assets$10,007,023
Liabilities$7,161,734
Net Assets$2,845,289
Open 2021 Filing

Operations Trend

Revenue Growth33rd 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

2021

Revenue$1,916,923
Expenses$1,699,186
Net Income$217,737
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.2
Gross Receipts
$1,916,923
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$8,485,964$8,694,551▲ $208,587
Rtn Earn Endowment Incm Other Fnds$2,422,987$2,640,724▲ $217,737
Savings and Temporary Cash Investments$1,083,858$1,108,964▲ $25,106
Cap Stk Tr Prin Current Funds$201,065$204,565▲ $3,500
Accounts Receivable$148,640$138,647▼ $9,993
Inventories for Sale or Use$37,083$53,113▲ $16,030
Prepaid Expenses and Deferred Charges$12,073$11,548▼ $525
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$9,767,818$10,007,023▲ $239,205
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,940,204$3,729,398▼ $210,806
Other Liabilities$3,114,364$3,242,057▲ $127,693
Accounts Payable and Accrued Expenses$89,198$190,279▲ $101,081
Total Liabilities$7,143,766$7,161,734▲ $17,968
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,624,052$2,845,289▲ $221,237
Total Liabilities and Net Assets / Fund Balance$9,767,818$10,007,023▲ $239,205

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,765,749$2,813,425$10,579,174
Buildings$451,616$156,398$608,014
Equipment$186,845$365,540$552,385
Land$290,341-$290,341
Leasehold Improvements$0$7,532$7,532
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Danny StandifordGeneral ManagerFT$64,141$1,924$66,065
Rick MorganPresident-$2,975-$2,975
Gayle PearlSecretary/treasurer-$2,000-$2,000
David CullDirector-$1,700-$1,700
Kirk ShafferDirector-$1,700-$1,700
Mike ShearerDirector-$1,625-$1,625
Mark AmmonsDirector-$1,200-$1,200
Ryan PfeiferDirector-$1,200-$1,200
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,916,619
Investment Income
$304
Other Revenue
$0
Change in Net Assets
$217,737

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,916,923
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,916,923
Total Revenue per Form 990
$1,916,923
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,487,874
Salaries, Compensation, and Employee Benefits$211,312
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$235,592
Other Salaries and Wages---$102,793
Interest---$86,077
Current Officers, Directors, Trustees, and Key Employees---$78,465
All Other Expenses---$46,411
Fees for Services Accounting---$22,220
Office Expenses---$19,709
Other Expenses---$19,615
Insurance---$17,053
Other Employee Benefits---$16,801
Payroll Taxes---$13,253
Fees for Services Legal---$8,775
Conferences and Meetings---$1,063
Total Functional Expenses$0$0$0$1,699,186

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,699,186
Total Expenses per Audited Statements$1,699,186
Total Expenses per Form 990$1,699,186
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$3,242,057
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 1 1, FLOYDS KNOBS, IN 47119

Signing Officer

Name
Rick Morgan
Title
President
Phone
8129239040
Signed
2022-11-08
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
8
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 3,500.”

Form 990, Part XII, Line 2C

“No change from the prior year”

Financial Statement Notes

PART X, LINE 2:

“The company had no uncertain tax positions at 12/31/21”

Raw XML Appendix375 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/MissionDesc0AT FLOYDS KNOBS WATER COMPANY, INC., WE ARE COMMITTED TO PROVIDING SAFE, HIGH QUALITY WATER SERVICES TO OUR COMMUNITY, WHILE MAINTAINING A STANDARD OF EXCELLENCE IN CUSTOMER SERVICE AND ENVIRONMENTAL CONSERVATION.
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0365540
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0552385
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01699186
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0290341
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0290341
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07532
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07532
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt07765749
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02813425
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt010579174
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03242057
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRIBUTIONS IN AID OF CONSTRUCTION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01916923
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY HAD NO UNCERTAIN TAX POSITIONS AT 12/31/21
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08694551
IRS990ScheduleD/TotalExpensesPerForm990Amt01699186
IRS990ScheduleD/TotalLiabilityAmt03242057
IRS990ScheduleD/TotalRevenuePerForm990Amt01916923
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01916923
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01699186
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 3,500.
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 XII, 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/TotalAssetsBOYAmt09767818
IRS990/TotalAssetsEOYAmt010007023
IRS990/TotalAssetsGrp/BOYAmt09767818
IRS990/TotalAssetsGrp/EOYAmt010007023
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/TotalAmt01699186
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07143766
IRS990/TotalLiabilitiesEOYAmt07161734
IRS990/TotalLiabilitiesGrp/BOYAmt07143766
IRS990/TotalLiabilitiesGrp/EOYAmt07161734
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02624052
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02845289
IRS990/TotalOtherCompensationAmt01924
IRS990/TotalProgramServiceRevenueAmt01916619
IRS990/TotalReportableCompFromOrgAmt076541
IRS990/TotalRevenueGrp/ExclusionAmt0304
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01916619
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01916923
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09767818
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010007023
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04781 PAOLI PIKE 1 1
IRS990/USAddress/CityNm0FLOYDS KNOBS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047119
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.FLOYDSKNOBSWATER.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08129239040
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLOYDS KNOBS WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0FLOY
ReturnHeader/Filer/EIN0351103388
ReturnHeader/Filer/PhoneNum08129239040
ReturnHeader/Filer/USAddress/AddressLine1Txt04781 PAOLI PIKE 1 1
ReturnHeader/Filer/USAddress/CityNm0FLOYDS KNOBS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047119
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/ReturnTs02022-11-15T14:48:59-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MORGAN
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
$10,007,023
Liabilities
$7,161,734
Net assets
$2,845,289
Revenue
$1,916,923
Expenses
$1,699,186
Net income
$217,737
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