Civic Intelligence

Floyds Knobs Water Company Inc

990 • Fiscal year 2022 • EIN 35-1103388

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 19, 2023

744 Highlander Point DriveFloyds 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

0.70x

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

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

3.46x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Net Margin

50th percentile

6.4%

Higher net margin than 50% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

75th percentile

$68,294

Higher top officer pay than 75% of similar nonprofits.

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

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Asset Growth

32nd percentile

-1.0%

Faster asset growth than 32% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

48th percentile

4.3%

Faster revenue growth than 48% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$9,905,061

Down $101,962 (-1.0%) from 2021

Net Assets

Up

$2,976,214

Up $130,925 (+4.6%) from 2021

Liabilities

Down

$6,928,847

Down $232,887 (-3.3%) from 2021

Revenue

Up

$1,999,888

Up $82,965 (+4.3%) from 2021

Expenses

Up

$1,871,063

Up $171,877 (+10%) from 2021

Net Income

Down

$128,825

Down $88,912 (-41%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$9,905,061
Liabilities$6,928,847
Net Assets$2,976,214

Operations Trend

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

2022

Revenue$1,999,888
Expenses$1,871,063
Net Income$128,825
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 19, 2023
Return Version
2022v5.0
Gross Receipts
$1,999,888
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$8,694,551$8,742,597▲ $48,046
Rtn Earn Endowment Incm Other Fnds$2,640,724$2,769,549▲ $128,825
Savings and Temporary Cash Investments$1,108,964$954,962▼ $154,002
Cap Stk Tr Prin Current Funds$204,565$206,665▲ $2,100
Accounts Receivable$138,647$146,099▲ $7,452
Inventories for Sale or Use$53,113$49,060▼ $4,053
Prepaid Expenses and Deferred Charges$11,548$12,143▲ $595
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$10,007,023$9,905,061▼ $101,962
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,729,398$3,513,740▼ $215,658
Other Liabilities$3,242,057$3,293,732▲ $51,675
Accounts Payable and Accrued Expenses$190,279$121,375▼ $68,904
Total Liabilities$7,161,734$6,928,847▼ $232,887
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,845,289$2,976,214▲ $130,925
Total Liabilities and Net Assets / Fund Balance$10,007,023$9,905,061▼ $101,962

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,791,205$2,989,777$10,780,982
Buildings$479,565$166,426$645,991
Equipment$181,486$403,567$585,053
Land$290,341-$290,341
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Danny StandifordGeneral ManagerFT$66,305$1,989$68,294
Rick MorganPresident-$3,500-$3,500
Mike ShearerVice President-$2,000-$2,000
Gayle PearlSecretary/treasurer-$1,625-$1,625
David CullDirector-$1,200-$1,200
Mark AmmonsDirector-$1,200-$1,200
Ryan PfeiferDirector-$1,200-$1,200
Kirk ShafferDirector-$1,100-$1,100
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,993,029
Investment Income
$6,859
Other Revenue
$0
Change in Net Assets
$128,825

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,999,888
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,999,888
Total Revenue per Form 990
$1,999,888
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,624,176
Salaries, Compensation, and Employee Benefits$246,887
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$252,411
Other Salaries and Wages---$132,113
Interest---$81,122
Current Officers, Directors, Trustees, and Key Employees---$80,120
All Other Expenses---$60,708
Fees for Services Accounting---$22,916
Other Expenses---$20,770
Office Expenses---$19,672
Other Employee Benefits---$18,797
Insurance---$17,132
Payroll Taxes---$15,857
Fees for Services Legal---$9,460
Conferences and Meetings---$1,579
Fees for Services Other---$925
Total Functional Expenses$0$0$0$1,871,063

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,871,063
Total Expenses per Audited Statements$1,871,063
Total Expenses per Form 990$1,871,063
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$3,293,732
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 0 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
744 HIGHLANDER POINT DRIVE, FLOYDS KNOBS, IN 47119

Signing Officer

Name
Rick Morgan
Title
President
Phone
8129239040
Signed
2023-10-19
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
7
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 XII, Line 2C

No change from the prior year

Financial Statement Notes

PART X, LINE 2:

The company had no uncertain tax positions at 12/31/22

Raw XML Appendix380 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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0181486
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0403567
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0585053
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01871063
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0290341
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0290341
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt07791205
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02989777
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt010780982
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03293732
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRIBUTIONS IN AID OF CONSTRUCTION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01999888
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY HAD NO UNCERTAIN TAX POSITIONS AT 12/31/22
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08742597
IRS990ScheduleD/TotalExpensesPerForm990Amt01871063
IRS990ScheduleD/TotalLiabilityAmt03293732
IRS990ScheduleD/TotalRevenuePerForm990Amt01999888
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01999888
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01871063
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FLOYDS KNOBS WATER CORPORATION, INC IS A COOPERATIVE OWNED BY APPROXIMATELY 2,400 0 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 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/TotalAssetsBOYAmt010007023
IRS990/TotalAssetsEOYAmt09905061
IRS990/TotalAssetsGrp/BOYAmt010007023
IRS990/TotalAssetsGrp/EOYAmt09905061
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/TotalAmt01871063
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07161734
IRS990/TotalLiabilitiesEOYAmt06928847
IRS990/TotalLiabilitiesGrp/BOYAmt07161734
IRS990/TotalLiabilitiesGrp/EOYAmt06928847
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02845289
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02976214
IRS990/TotalOtherCompensationAmt01989
IRS990/TotalProgramServiceRevenueAmt01993029
IRS990/TotalReportableCompFromOrgAmt078130
IRS990/TotalRevenueGrp/ExclusionAmt04859
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01995029
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01999888
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010007023
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09905061
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0744 HIGHLANDER POINT DRIVE
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/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08129239040
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLOYDS KNOBS WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0FLOY
ReturnHeader/Filer/EIN0351103388
ReturnHeader/Filer/PhoneNum08129239040
ReturnHeader/Filer/USAddress/AddressLine1Txt0744 HIGHLANDER POINT DRIVE
ReturnHeader/Filer/USAddress/CityNm0FLOYDS KNOBS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047119
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
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/ReturnTs02023-11-10T15:25:11-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MORGAN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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