Civic Intelligence

Kent Water Company Inc

EIN 35-1105235 • 501(c)12 • Hanover, IN

Profile

Distribute water to members in the service area.

PO Box 336Hanover, IN 47243

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

17th percentile

0.03x

Higher debt load relative to assets than 17% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

25th percentile

0.22x

Higher debt load relative to revenue than 25% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Net Margin

59th percentile

16%

Higher net margin than 59% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)12 • $5M-$10M nonprofits • Source year 2024

Asset Growth

61st percentile

5.1%

Faster asset growth than 61% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

42nd percentile

3.9%

Faster revenue growth than 42% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,588,630

Up $417,975 (+5.1%) from 2023

Liabilities

Up

$266,915

Up $225,542 (+545%) from 2023

Net Assets

Up

$8,321,715

Up $192,433 (+2.4%) from 2023

Revenue

Up

$1,211,515

Up $45,026 (+3.9%) from 2023

Expenses

Up

$1,019,082

Up $103,327 (+11%) from 2023

Net Income

Down

$192,433

Down $58,301 (-23%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2016: $6,987,938Liabilities 2016: $290,993Net Assets 2016: $6,696,9452016Assets 2017: $6,908,688Liabilities 2017: $32,371Net Assets 2017: $6,876,3172017Assets 2018: $7,071,781Liabilities 2018: $34,077Net Assets 2018: $7,037,7042018Assets 2019: $7,141,863Liabilities 2019: $37,766Net Assets 2019: $7,104,0972019Assets 2020: $7,284,134Liabilities 2020: $29,363Net Assets 2020: $7,254,7712020Assets 2021: $7,414,330Liabilities 2021: $35,306Net Assets 2021: $7,379,0242021Assets 2022: $7,912,495Liabilities 2022: $33,947Net Assets 2022: $7,878,5482022Assets 2023: $8,170,655Liabilities 2023: $41,373Net Assets 2023: $8,129,2822023Assets 2024: $8,588,630Liabilities 2024: $266,915Net Assets 2024: $8,321,7152024

Highlighted filing

2024

Assets$8,588,630
Liabilities$266,915
Net Assets$8,321,715

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2016: $915,856Expenses 2016: $738,098Net Income 2016: $177,7582016Revenue 2017: $915,821Expenses 2017: $736,449Net Income 2017: $179,3722017Revenue 2018: $932,849Expenses 2018: $771,462Net Income 2018: $161,3872018Revenue 2019: $888,430Expenses 2019: $822,037Net Income 2019: $66,3932019Revenue 2020: $961,262Expenses 2020: $810,588Net Income 2020: $150,6742020Revenue 2021: $984,368Expenses 2021: $860,115Net Income 2021: $124,2532021Revenue 2022: $1,358,659Expenses 2022: $859,135Net Income 2022: $499,5242022Revenue 2023: $1,166,489Expenses 2023: $915,755Net Income 2023: $250,7342023Revenue 2024: $1,211,515Expenses 2024: $1,019,082Net Income 2024: $192,4332024

Highlighted filing

2024

Revenue$1,211,515
Expenses$1,019,082
Net Income$192,433

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 10, 2025
Return Version
2024v5.0
Gross Receipts
$1,215,577
Mission and Program Overview

Mission

Distribute water to members in the service area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,284,986$5,134,394▼ $150,592
Rtn Earn Endowment Incm Other Fnds$4,977,465$5,102,244▲ $124,779
Pd in Cap Srpls Land Bldg Eqp Fund$3,151,817$3,219,471▲ $67,654
Cash and Non-Interest-Bearing Accounts$229,501$1,365,743▲ $1,136,242
Savings and Temporary Cash Investments$2,481,000$244,000▼ $2,237,000
Accounts Receivable$39,306$51,514▲ $12,208
Inventories for Sale or Use$67,699$44,882▼ $22,817
Prepaid Expenses and Deferred Charges$9,362$10,548▲ $1,186
Total Assets$8,170,655$8,588,630▲ $417,975
Other Assets Total$58,801$1,737,549▲ $1,678,748
Liabilities
Accounts Payable and Accrued Expenses$18,360$244,599▲ $226,239
Other Liabilities$23,013$22,316▼ $697
Total Liabilities$41,373$266,915▲ $225,542
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,129,282$8,321,715▲ $192,433
Total Liabilities and Net Assets / Fund Balance$8,170,655$8,588,630▲ $417,975

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,623,255$4,148,845$7,772,100
Equipment$1,131,765$323,018$1,454,783
Land$353,846-$353,846
Buildings$25,528$41,463$66,991
Other Assets Org$1,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard JohnsonChairman
Tom DepriestVice-chairma
David MillerDirector
Gerry BowersDirector
Matt OberliesDirector
Terry BuntonDirector
Vincent MorrisDirector
Jerry TatmanSecretary
Warren AuxierTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mitchell & Stark ConstructionConstruction170 W 1ST ST, Medora, IN 47260$1,167,649
Midwestern Engineers INCEngineeringPO BOX 295, Loogootee, IN 47553$228,498
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,114,675
Investment Income
$79,460
Other Revenue
$17,380
Change in Net Assets
$192,433

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,143,861
Revenue Not Reported on Financial Statements
$67,654
Other Revenue Adjustments
$67,654
Total Revenue per Audited Statements
$1,143,861
Total Revenue per Form 990
$1,211,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$705,217
Salaries, Compensation, and Employee Benefits$313,865
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$226,350
Depreciation Depletion---$206,598
All Other Expenses---$82,595
Other Employee Benefits---$62,843
Other Expenses---$40,675
Office Expenses---$38,559
Travel---$37,528
Fees for Services Accounting---$29,488
Insurance---$23,157
Payroll Taxes---$17,208
Occupancy---$10,984
Pension Plan Contributions---$6,334
Current Officers, Directors, Trustees, and Key Employees---$1,130
Total Functional Expenses$0$0$0$1,019,082

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,019,082
Expenses per Audited Statements$1,019,081
Total Expenses per Audited Statements$1,019,081
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Rental Deposits$23,102
Customer Refund Ac$-786
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, 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 & regulations & bylaws

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

The treasurer of the board of directors reviews form 990.

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

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

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

The board of directors review officer and employee 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
Kent Water Company Inc
EIN
35-1105235
Phone
8128664646
Address
PO BOX 336, HANOVER, IN 47243

Signing Officer

Name
Warren Auxier
Title
Treasurer
Phone
8128664646
Signed
2025-05-10

Organization Details

Principal Officer
Richard Johnson
Formed
1961
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
7

Preparer

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

Financial Statement Notes

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

Rounding 0 tap fees, memberships & line contributions 67,654

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

ROUNDING 1

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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04977465
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05102244
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02481000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0244000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt025528
IRS990ScheduleD/BuildingsGrp/DepreciationAmt041463
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt066991
IRS990ScheduleD/EquipmentGrp/BookValueAmt01131765
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0323018
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01454783
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01
IRS990ScheduleD/ExpensesSubtotalAmt01019081
IRS990ScheduleD/LandGrp/BookValueAmt0353846
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0353846
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01501561
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1230932
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt24056
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NEW PLANT CONSTRUCTION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NEW PLANT ENGINEER
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3BOND - JEFFERSON CO.
IRS990ScheduleD/OtherExpensesNotIncludedAmt01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03623255
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04148845
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07772100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023102
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-786
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER RENTAL DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CUSTOMER REFUND AC
IRS990ScheduleD/OtherRevenuesNotIncludedAmt067654
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt067654
IRS990ScheduleD/RevenueSubtotalAmt01143861
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ROUNDING 0 TAP FEES, MEMBERSHIPS & LINE CONTRIBUTIONS 67,654
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING 1
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05134394
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01737549
IRS990ScheduleD/TotalExpensesPerForm990Amt01019082
IRS990ScheduleD/TotalLiabilityAmt022316
IRS990ScheduleD/TotalRevenuePerForm990Amt01211515
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01143861
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01019081
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERSHIP CONSISTS OF CUSTOMERS SERVICED BY THE UTILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE WATER UTILITY ELECT THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DUTIES OF MEMBERS AND THE BOARD OF DIRECTORS ARE DEFINED IN THE COMPANY'S RULES & REGULATIONS & BYLAWS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TREASURER OF THE BOARD OF DIRECTORS REVIEWS FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEW OFFICER AND EMPLOYEE COMPENSATION AND APPROVE CHANGES TO COMPENSATION ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEW OFFICER AND EMPLOYEE COMPENSATION AND APPROVE CHANGES TO COMPENSATION ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MEMBERSHIP MAY REQUEST COPIES OF GOVERNING DOCUMENTS AT THE COMPANY'S MAIN OFFICE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08170655
IRS990/TotalAssetsEOYAmt08588630
IRS990/TotalAssetsGrp/BOYAmt08170655
IRS990/TotalAssetsGrp/EOYAmt08588630
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01019082
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt041373
IRS990/TotalLiabilitiesEOYAmt0266915
IRS990/TotalLiabilitiesGrp/BOYAmt041373
IRS990/TotalLiabilitiesGrp/EOYAmt0266915
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08129282
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08321715
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt06015
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt06015
IRS990/TotalProgramServiceRevenueAmt01114675
IRS990/TotalRevenueGrp/ExclusionAmt083522
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01127993
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01211515
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08170655
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08588630
IRS990/TravelGrp/TotalAmt037528
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0199 S ASH DRIVE
IRS990/USAddress/CityNm0HANOVER
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047243
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WARREN AUXIER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08128664646
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KENT WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0KENT
ReturnHeader/Filer/EIN0351105235
ReturnHeader/Filer/PhoneNum08128664646
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 336
ReturnHeader/Filer/USAddress/CityNm0HANOVER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047243
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
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/PreparationDt02025-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTINE D DATTILO CPA
ReturnHeader/ReturnTs02025-05-13T16:32:47-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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