Civic Intelligence

Watson Water Company Inc

990 • Fiscal year 2019 • EIN 35-1125595

Jan 01, 2019 to Dec 31, 2019 • Filed on May 18, 2020

4106 Utica Sellersburg RoadJeffersonville, IN 47130

(812) 246-5416

Siviq Scores

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

Liabilities / Assets

66th percentile

0.46x

Higher debt load relative to assets than 66% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

67th percentile

2.26x

Higher debt load relative to revenue than 67% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Net Margin

97th percentile

46%

Higher net margin than 97% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

32nd percentile

$3,240

Higher top officer pay than 32% of similar nonprofits.

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

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Asset Growth

94th percentile

15%

Faster asset growth than 94% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

11th percentile

-7.0%

Faster revenue growth than 11% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$19,554,096

Up $2,601,759 (+15%) from 2018

Net Assets

Up

$10,498,267

Up $1,842,437 (+21%) from 2018

Liabilities

Up

$9,055,829

Up $759,322 (+9.2%) from 2018

Revenue

Down

$4,014,971

Down $302,491 (-7.0%) from 2018

Expenses

Up

$2,172,534

Up $113,622 (+5.5%) from 2018

Net Income

Down

$1,842,437

Down $416,113 (-18%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2016: $13,860,829Liabilities 2016: $7,070,262Net Assets 2016: $6,790,5672016Assets 2017: $16,153,912Liabilities 2017: $9,756,633Net Assets 2017: $6,397,2792017Assets 2018: $16,952,337Liabilities 2018: $8,296,507Net Assets 2018: $8,655,8302018Assets 2019: $19,554,096Liabilities 2019: $9,055,829Net Assets 2019: $10,498,2672019Assets 2020: $20,947,052Liabilities 2020: $8,528,860Net Assets 2020: $12,418,1922020Assets 2021: $22,160,626Liabilities 2021: $8,378,175Net Assets 2021: $13,782,4512021Assets 2022: $23,644,070Liabilities 2022: $8,038,980Net Assets 2022: $15,605,0902022Assets 2023: $25,342,957Liabilities 2023: $7,716,840Net Assets 2023: $17,626,1172023Assets 2024: $27,882,058Liabilities 2024: $7,454,806Net Assets 2024: $20,427,2522024

Highlighted filing

2019

Assets$19,554,096
Liabilities$9,055,829
Net Assets$10,498,267

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $2,615,631Expenses 2016: $1,755,385Net Income 2016: $860,2462016Revenue 2017: $3,172,311Expenses 2017: $3,565,599Net Income 2017: -$393,2882017Revenue 2018: $4,317,462Expenses 2018: $2,058,912Net Income 2018: $2,258,5502018Revenue 2019: $4,014,971Expenses 2019: $2,172,534Net Income 2019: $1,842,4372019Revenue 2020: $4,253,246Expenses 2020: $2,333,321Net Income 2020: $1,919,9252020Revenue 2021: $4,087,704Expenses 2021: $2,723,445Net Income 2021: $1,364,2592021Revenue 2022: $4,477,415Expenses 2022: $2,654,776Net Income 2022: $1,822,6392022Revenue 2023: $4,838,213Expenses 2023: $2,817,186Net Income 2023: $2,021,0272023Revenue 2024: $5,935,811Expenses 2024: $3,134,676Net Income 2024: $2,801,1352024

Highlighted filing

2019

Revenue$4,014,971
Expenses$2,172,534
Net Income$1,842,437
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 18, 2020
Return Version
2019v5.0
Gross Receipts
$4,018,977
Mission and Program Overview

Mission

To provide clean, potable water to the members of the corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,019,258$15,923,911▲ $1,904,653
Pd in Cap Srpls Land Bldg Eqp Fund$6,414,953$7,268,195▲ $853,242
Savings and Temporary Cash Investments$2,375,773$3,543,294▲ $1,167,521
Rtn Earn Endowment Incm Other Fnds$2,240,877$3,230,072▲ $989,195
Inventories for Sale or Use$60,512$43,538▼ $16,974
Accounts Receivable$46,029$25,469▼ $20,560
Prepaid Expenses and Deferred Charges$9,336$11,077▲ $1,741
Cash and Non-Interest-Bearing Accounts$4,585$6,807▲ $2,222
Total Assets$16,952,337$19,554,096▲ $2,601,759
Other Assets Total$436,844--
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,644,446$8,466,368▲ $821,922
Other Liabilities$457,070$438,233▼ $18,837
Accounts Payable and Accrued Expenses$194,991$151,228▼ $43,763
Total Liabilities$8,296,507$9,055,829▲ $759,322
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,655,830$10,498,267▲ $1,842,437
Total Liabilities and Net Assets / Fund Balance$16,952,337$19,554,096▲ $2,601,759

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$15,321,302$5,660,287$20,981,589
Land$479,633-$479,633
Equipment$110,920$309,134$420,054
Buildings$12,056$143,262$155,318
Compensation and Service Providers

Employees

NameTitleBaseTotal
Sam HuffTreasurer$3,240$3,240
Len AshackSecretary$2,095$2,095
Dennis HillDirector$2,075$2,075
Andrew SettlePresident$2,015$2,015
Charles MilburnDirector$1,850$1,850
Joshua HillmanDirector$1,840$1,840
Tom KingDirector$1,800$1,800
Mark FosterVice Preside$1,750$1,750
Eric GoodmanDirector$1,650$1,650

Highest Paid Contractors

ContractorServicesLocationCompensation
Lykins Contracting INCConstruction12783 N STATE RD 101, Sunman, IN 47041$155,630
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,001,134
Investment Income
$13,837
Other Revenue
$0
Change in Net Assets
$1,842,437

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,161,729
Revenue Not Reported on Financial Statements
$853,242
Other Revenue Adjustments
$853,242
Total Revenue per Audited Statements
$3,161,729
Total Revenue per Form 990
$4,014,971
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,529,712
Salaries, Compensation, and Employee Benefits$642,822
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$553,524
Other Salaries and Wages---$414,997
Other Employee Benefits---$161,507
Interest---$159,657
Office Expenses---$42,314
All Other Expenses---$37,842
Fees for Services Accounting---$36,137
Payroll Taxes---$35,535
Insurance---$28,980
Travel---$25,471
Occupancy---$23,461
Current Officers, Directors, Trustees, and Key Employees---$18,015
Pension Plan Contributions---$12,768
Other Expenses---$11,836
Fees for Services Legal---$7,770
Fees for Services Other---$6,845
Conferences and Meetings---$2,048
Total Functional Expenses$0$0$0$2,172,534

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,172,549
Total Expenses per Audited Statements$2,172,549
Total Expenses per Form 990$2,172,534
Expenses Not Reported on Financial Statements$-15
Other Expense Adjustments$-15
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
Com Stock/membership$438,233
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 and regulations and bylaws

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

Office manager reviews and president signs the return.

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

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

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

The board of directors review employee and officer 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
Watson Water Company Inc
EIN
35-1125595
Phone
8122465416
Address
4106 UTICA SELLERSBURG ROAD, JEFFERSONVILLE, IN 47130

Signing Officer

Name
Andrew Settle
Title
President
Phone
8122465416
Signed
2020-05-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Settle
Formed
1964
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
8

Preparer

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

Financial Statement Notes

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

Tap fees 85,975 line extensions 485,696 system development 281,570 rounding 1

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

ROUNDING -15

Raw XML Appendix381 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/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02240877
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt03230072
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02375773
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03543294
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt012056
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0143262
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0155318
IRS990ScheduleD/EquipmentGrp/BookValueAmt0110920
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0309134
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0420054
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-15
IRS990ScheduleD/ExpensesSubtotalAmt02172549
IRS990ScheduleD/LandGrp/BookValueAmt0479633
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0479633
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-15
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015321302
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05660287
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt020981589
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0438233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0COM STOCK/MEMBERSHIP
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0853242
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0853242
IRS990ScheduleD/RevenueSubtotalAmt03161729
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TAP FEES 85,975 LINE EXTENSIONS 485,696 SYSTEM DEVELOPMENT 281,570 ROUNDING 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING -15
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015923911
IRS990ScheduleD/TotalExpensesPerForm990Amt02172534
IRS990ScheduleD/TotalLiabilityAmt0438233
IRS990ScheduleD/TotalRevenuePerForm990Amt04014971
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03161729
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02172549
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 AND REGULATIONS AND BYLAWS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICE MANAGER REVIEWS AND PRESIDENT SIGNS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEW EMPLOYEE AND OFFICER COMPENSATION AND APPROVE CHANGES TO COMPENSATION ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS REVIEW EMPLOYEE AND OFFICER 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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt016952337
IRS990/TotalAssetsEOYAmt019554096
IRS990/TotalAssetsGrp/BOYAmt016952337
IRS990/TotalAssetsGrp/EOYAmt019554096
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02172534
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08296507
IRS990/TotalLiabilitiesEOYAmt09055829
IRS990/TotalLiabilitiesGrp/BOYAmt08296507
IRS990/TotalLiabilitiesGrp/EOYAmt09055829
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08655830
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010498267
IRS990/TotalProgramServiceRevenueAmt04001134
IRS990/TotalReportableCompFromOrgAmt018315
IRS990/TotalRevenueGrp/ExclusionAmt017843
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03997128
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04014971
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016952337
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019554096
IRS990/TravelGrp/TotalAmt025471
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07714 STACY ROAD
IRS990/USAddress/CityNm0CHARLESTOWN
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047111
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.WATSON-WATER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW SETTLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08122465416
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATSON WATER COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0WATS
ReturnHeader/Filer/EIN0351125595
ReturnHeader/Filer/PhoneNum08122465416
ReturnHeader/Filer/USAddress/AddressLine1Txt04106 UTICA SELLERSBURG ROAD
ReturnHeader/Filer/USAddress/CityNm0JEFFERSONVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047130
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C4A7A40226FF16DEF43DC80B546024A3F54AC515
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BD0A6391B3274C46CEB943BF68C65F094BAD7A4F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.174.133.146
ReturnHeader/FilingSecurityInformation/IPDt02020-05-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:29:48
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/PreparationDt02020-05-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHAUN KING CPA
ReturnHeader/ReturnTs02020-05-26T13:29:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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