Civic Intelligence

Elrod Water Company Inc

EIN 35-1122059 • 501(c)12 • Milan, IN

Profile

Distribute potable water to members in the service area.

7215 East State Road 350Milan, IN 47031

n/A

Siviq Scores

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

Liabilities / Assets

88th percentile

0.64x

Higher debt load relative to assets than 88% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

6.62x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Net Margin

41st percentile

0.8%

Higher net margin than 41% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

11th percentile

$3,255

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Asset Growth

9th percentile

-1.6%

Faster asset growth than 9% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

54th percentile

5.1%

Faster revenue growth than 54% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$28,294,651

Down $466,009 (-1.6%) from 2023

Liabilities

Down

$18,063,919

Down $488,710 (-2.6%) from 2023

Net Assets

Up

$10,230,732

Up $22,701 (+0.2%) from 2023

Revenue

Up

$2,727,192

Up $132,904 (+5.1%) from 2023

Expenses

Up

$2,704,491

Up $218,126 (+8.8%) from 2023

Net Income

Down

$22,701

Down $85,222 (-79%) from 2023

Trend Graphs

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $16,028,848Liabilities 2010: $7,838,941Net Assets 2010: $8,189,9072010Assets 2011: $16,170,669Liabilities 2011: $7,657,082Net Assets 2011: $8,513,5872011Assets 2012: $19,985,135Liabilities 2012: $10,944,390Net Assets 2012: $9,040,7452012Assets 2016: $30,857,546Liabilities 2016: $22,040,361Net Assets 2016: $8,817,1852016Assets 2017: $30,512,297Liabilities 2017: $21,668,825Net Assets 2017: $8,843,4722017Assets 2018: $30,188,088Liabilities 2018: $21,080,293Net Assets 2018: $9,107,7952018Assets 2019: $29,980,622Liabilities 2019: $20,603,327Net Assets 2019: $9,377,2952019Assets 2020: $29,706,614Liabilities 2020: $20,087,899Net Assets 2020: $9,618,7152020Assets 2021: $29,404,350Liabilities 2021: $19,603,017Net Assets 2021: $9,801,3332021Assets 2022: $29,172,707Liabilities 2022: $19,072,610Net Assets 2022: $10,100,0972022Assets 2023: $28,760,660Liabilities 2023: $18,552,629Net Assets 2023: $10,208,0312023Assets 2024: $28,294,651Liabilities 2024: $18,063,919Net Assets 2024: $10,230,7322024

Highlighted filing

2024

Assets$28,294,651
Liabilities$18,063,919
Net Assets$10,230,732

Operations Trend

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

$3.0M$2.0M$1.0M$0Expenses 2010: $1,495,1552010Expenses 2011: $1,464,9712011Expenses 2012: $1,438,5342012Revenue 2016: $2,468,092Expenses 2016: $2,383,469Net Income 2016: $84,6232016Revenue 2017: $2,447,866Expenses 2017: $2,421,579Net Income 2017: $26,2872017Revenue 2018: $2,591,427Expenses 2018: $2,327,104Net Income 2018: $264,3232018Revenue 2019: $2,569,049Expenses 2019: $2,299,549Net Income 2019: $269,5002019Revenue 2020: $2,583,772Expenses 2020: $2,342,352Net Income 2020: $241,4202020Revenue 2021: $2,632,229Expenses 2021: $2,449,611Net Income 2021: $182,6182021Revenue 2022: $2,738,494Expenses 2022: $2,439,730Net Income 2022: $298,7642022Revenue 2023: $2,594,288Expenses 2023: $2,486,365Net Income 2023: $107,9232023Revenue 2024: $2,727,192Expenses 2024: $2,704,491Net Income 2024: $22,7012024

Highlighted filing

2024

Revenue$2,727,192
Expenses$2,704,491
Net Income$22,701

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 6, 2025
Return Version
2024v5.0
Gross Receipts
$2,738,477
Mission and Program Overview

Mission

Distribute potable water to members in the service area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,364,744$25,457,639▲ $92,895
Pd in Cap Srpls Land Bldg Eqp Fund$7,199,631$7,342,146▲ $142,515
Rtn Earn Endowment Incm Other Fnds$3,008,400$2,888,586▼ $119,814
Savings and Temporary Cash Investments$1,793,779$1,572,792▼ $220,987
Cash and Non-Interest-Bearing Accounts$643,098$404,246▼ $238,852
Accounts Receivable$186,083$202,156▲ $16,073
Inventories for Sale or Use$157,686$160,435▲ $2,749
Total Assets$28,760,660$28,294,651▼ $466,009
Other Assets Total$615,270$497,383▼ $117,887
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,053,418$17,502,788▼ $550,630
Other Liabilities$369,180$372,910▲ $3,730
Accounts Payable and Accrued Expenses$130,031$188,221▲ $58,190
Total Liabilities$18,552,629$18,063,919▼ $488,710
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,208,031$10,230,732▲ $22,701
Total Liabilities and Net Assets / Fund Balance$28,760,660$28,294,651▼ $466,009

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$20,425,727$8,305,424$28,731,151
Equipment$4,795,933$1,608,050$6,403,983
Buildings$54,194$281,680$335,874
Land$181,785-$181,785
Compensation and Service Providers

Employees

NameTitleBaseTotal
Jeff LewisTreasurer$3,255$3,255
Jeff PooleSecretary$3,215$3,215
Gregory DolePresident$2,225$2,225
Chris DayDirector$1,695$1,695
Anthony SchwabDirector$1,625$1,625
Doug NobbeDirector$1,625$1,625
Anthony ClarkVice Preside$1,575$1,575
Larry WeilerDirector$1,375$1,375
Tom LinkelDirector$875$875

Highest Paid Contractors

ContractorServicesLocationCompensation
Grw Engineers INCEngineering9001 N WESLEYAN ROAD SUITE 200, Indianapolis, IN 46268$104,606
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,703,984
Investment Income
$8,809
Other Revenue
$14,399
Change in Net Assets
$22,701

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,584,676
Revenue Not Reported on Financial Statements
$142,516
Other Revenue Adjustments
$142,516
Total Revenue per Audited Statements
$2,584,676
Total Revenue per Form 990
$2,727,192
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,211,911
Salaries, Compensation, and Employee Benefits$492,580
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$648,994
Interest---$617,610
Other Salaries and Wages---$350,196
Fees for Services Other---$210,923
Occupancy---$80,580
Other Employee Benefits---$63,739
Fees for Services Legal---$57,845
Insurance---$55,034
Travel---$54,819
Payroll Taxes---$45,190
Fees for Services Accounting---$37,094
Current Officers, Directors, Trustees, and Key Employees---$33,455
Office Expenses---$7,120
Other Expenses---$1,428
All Other Expenses---$838
Total Functional Expenses$0$0$0$2,704,491

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,704,497
Expenses per Audited Statements$2,704,491
Total Expenses per Form 990$2,704,491
Expenses Not Reported on Form 990$6
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
Membership Deposits$372,190
Meter Deposits$720
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 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 PERFORMED

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

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

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

The board of directors review employee and director 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
Elrod Water Company Inc
EIN
35-1122059
Phone
8126543200
Address
7215 EAST STATE ROAD 350, MILAN, IN 47031
Doing Business As
Hoosier Hills Regional Water Distri

Signing Officer

Name
Gregory Dole
Title
President
Phone
8662683200
Signed
2025-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Dole
Formed
1965
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
10

Preparer

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

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Distribute potable water to members in the service area.

Financial Statement Notes

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

Tap fees & line contributions 142,515 rounding 1

Schedule D, Page 4, Part XII, Line 2D

ROUNDING 6

Raw XML Appendix382 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/ProgramServiceRevenueGrp/TotalRevenueColumnAmt45702
IRS990/ProgSrvcAccomActyOtherGrp/Desc0DISTRIBUTE POTABLE WATER TO MEMBERS IN THE SERVICE AREA.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0-21286
IRS990/PYOtherExpensesAmt02037232
IRS990/PYOtherRevenueAmt010500
IRS990/PYProgramServiceRevenueAmt02605074
IRS990/PYRevenuesLessExpensesAmt0107923
IRS990/PYSalariesCompEmpBnftPaidAmt0449133
IRS990/PYTotalExpensesAmt02486365
IRS990/PYTotalRevenueAmt02594288
IRS990/ReconcilationRevenueExpnssAmt022701
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt03008400
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02888586
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01793779
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01572792
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IRS990ScheduleD/BuildingsGrp/BookValueAmt054194
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0281680
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0335874
IRS990ScheduleD/EquipmentGrp/BookValueAmt04795933
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01608050
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06403983
IRS990ScheduleD/ExpensesNotReportedAmt06
IRS990ScheduleD/ExpensesSubtotalAmt02704491
IRS990ScheduleD/LandGrp/BookValueAmt0181785
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0181785
IRS990ScheduleD/OtherExpensesIncludedAmt06
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt020425727
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt08305424
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028731151
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0372190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1720
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERSHIP DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1METER DEPOSITS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0142516
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0142516
IRS990ScheduleD/RevenueSubtotalAmt02584676
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TAP FEES & LINE CONTRIBUTIONS 142,515 ROUNDING 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING 6
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt025457639
IRS990ScheduleD/TotalExpensesPerForm990Amt02704491
IRS990ScheduleD/TotalLiabilityAmt0372910
IRS990ScheduleD/TotalRevenuePerForm990Amt02727192
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02584676
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02704497
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DISTRIBUTE POTABLE WATER TO MEMBERS IN THE SERVICE AREA.
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 AND REGULATIONS AND BYLAWS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW PERFORMED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEW EMPLOYEE AND DIRECTOR COMPENSATION AND APPROVE CHANGES TO COMPENSATION ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEW EMPLOYEE AND DIRECTOR 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 2, PART III, LINE 4D
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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt028760660
IRS990/TotalAssetsEOYAmt028294651
IRS990/TotalAssetsGrp/BOYAmt028760660
IRS990/TotalAssetsGrp/EOYAmt028294651
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02704491
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018552629
IRS990/TotalLiabilitiesEOYAmt018063919
IRS990/TotalLiabilitiesGrp/BOYAmt018552629
IRS990/TotalLiabilitiesGrp/EOYAmt018063919
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010208031
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010230732
IRS990/TotalProgramServiceRevenueAmt02703984
IRS990/TotalReportableCompFromOrgAmt017465
IRS990/TotalRevenueGrp/ExclusionAmt020094
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02707098
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02727192
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt028760660
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt028294651
IRS990/TravelGrp/TotalAmt054819
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04678 S FARMERS RETREAT RD
IRS990/USAddress/CityNm0DILLSBORO
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047018
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREGORY DOLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08662683200
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ELROD WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0ELRO
ReturnHeader/Filer/EIN0351122059
ReturnHeader/Filer/PhoneNum08126543200
ReturnHeader/Filer/USAddress/AddressLine1Txt07215 EAST STATE ROAD 350
ReturnHeader/Filer/USAddress/CityNm0MILAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047031
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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