Civic Intelligence

B&B Water Project Inc

EIN 35-1144643 • 501(c)12 • Bloomington, IN

Profile

Provide treated drinking water to customers/members

PO Box 7287Bloomington, IN 47407

bandbwaterproject.com

Siviq Scores

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

Liabilities / Assets

40th percentile

0.13x

Higher debt load relative to assets than 40% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

32nd percentile

0.21x

Higher debt load relative to revenue than 32% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Source year 2022

Net Margin

16th percentile

-15%

Higher net margin than 16% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

6th percentile

-7.8%

Faster asset growth than 6% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

53rd percentile

6.7%

Faster revenue growth than 53% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,590,429

Up $443,136 (+39%) from 2023

Liabilities

Up

$614,513

Up $475,452 (+342%) from 2023

Net Assets

Down

$975,916

Down $32,316 (-3.2%) from 2023

Operations
Liabilities / Revenue32nd percentileNet Margin16th percentile

Revenue

Up

$1,128,209

Up $258,481 (+30%) from 2023

Expenses

Up

$1,162,662

Up $147,058 (+14%) from 2023

Net Income

Up

-$34,453

Up $111,423 (+76%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth6th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $1,514,388Liabilities 2020: $185,180Net Assets 2020: $1,329,2082020Assets 2021: $1,418,739Liabilities 2021: $166,368Net Assets 2021: $1,252,3712021Assets 2022: $1,308,690Liabilities 2022: $166,592Net Assets 2022: $1,142,0982022Assets 2023: $1,147,293Liabilities 2023: $139,061Net Assets 2023: $1,008,2322023Assets 2024: $1,590,429Liabilities 2024: $614,513Net Assets 2024: $975,9162024

Highlighted filing

2024

Assets$1,590,429
Liabilities$614,513
Net Assets$975,916
Open 2024 Filing

Operations Trend

Revenue Growth53rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $763,664Expenses 2020: $837,651Net Income 2020: -$73,9872020Revenue 2021: $740,880Expenses 2021: $819,402Net Income 2021: -$78,5222021Revenue 2022: $790,879Expenses 2022: $905,678Net Income 2022: -$114,7992022Revenue 2023: $869,728Expenses 2023: $1,015,604Net Income 2023: -$145,8762023Revenue 2024: $1,128,209Expenses 2024: $1,162,662Net Income 2024: -$34,4532024

Highlighted filing

2024

Revenue$1,128,209
Expenses$1,162,662
Net Income-$34,453
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,590,429
Liabilities
$614,513
Net assets
$975,916
Revenue
$1,128,209
Expenses
$1,162,662
Net income
-$34,453
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.59$0.61$0.98$1.13$1.16$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.15$0.14$1.01$0.87$1.02$0.15
2022Detailed filing. Detailed filing data is available for this year.$1.31$0.17$1.14$0.79$0.91$0.11
2021Detailed filing. Detailed filing data is available for this year.$1.42$0.17$1.25$0.74$0.82$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.51$0.19$1.33$0.76$0.84$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 14, 2025
Return Version
2024v5.0
Gross Receipts
$1,128,209
Mission and Program Overview

Mission

Provide treated drinking water to customers/members

Provide drinking water to customersmembers

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$967,544$1,157,630▲ $190,086
Pd in Cap Srpls Land Bldg Eqp Fund$1,019,865$1,020,303▲ $438
Cash and Non-Interest-Bearing Accounts$86,031$225,924▲ $139,893
Cap Stk Tr Prin Current Funds$165,613$167,303▲ $1,690
Savings and Temporary Cash Investments-$111,452-
Accounts Receivable$93,718$95,423▲ $1,705
Rtn Earn Endowment Incm Other Fnds$-177,237$-211,690▼ $34,453
Total Assets$1,147,293$1,590,429▲ $443,136
Liabilities
Unsecured Notes Loans Payable$77,802$533,647▲ $455,845
Accounts Payable and Accrued Expenses$55,159$74,746▲ $19,587
Other Liabilities$6,100$6,120▲ $20
Total Liabilities$139,061$614,513▲ $475,452
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,008,232$975,916▼ $32,316
Total Net Assets Fund Balance$1,008,232$975,916▼ $32,316
Total Liabilities and Net Assets / Fund Balance$1,147,293$1,590,429▲ $443,136

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,105,218$2,514,444-
Land$24,456--
Equipment$27,956$25,477-
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey H UnderwoodTreasurerPT$10,445$10,445
Dale LisbyPresidentPT$6,370$6,370
Jay FloydVice PresidentPT$3,770$3,770
Alain BouvierSecretaryPT$2,845$2,845
Brian CrouchSecretaryPT$2,745$2,745
Donald G HousmanDirector-$1,420$1,420
Jodie RichardsonDirector-$1,420$1,420
Jon RichardsonDirector-$1,420$1,420
Scott MooreDirector-$1,420$1,420
Brad BarrowDirector-$600$600

Highest Paid Contractors

ContractorServicesLocationCompensation
Bynum Fanyo UtilitiesSystem Operator3499 W Maple Grove Road, Bloomington, IN 47404$345,135
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,124,711
Investment Income
$2,358
Other Revenue
$1,140
Change in Net Assets
$-34,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,130,207
Salaries, Compensation, and Employee Benefits$32,455
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$66,955--$66,955
All Other Expenses$47,196--$47,196
Current Officers, Directors, Trustees, and Key Employees-$32,455-$32,455
Occupancy$18,000--$18,000
Office Expenses$11,787$3,661-$15,448
Fees for Services Accounting-$11,773-$11,773
Interest$8,514--$8,514
Insurance$7,969--$7,969
Fees for Services Legal-$6,772-$6,772
Other Expenses$3,173--$3,173
Advertising$180--$180
Total Functional Expenses$1,108,001$54,661$0$1,162,662
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax$6,120
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“It is reviewed at a regular monthly board meeting”

Part VI Line 19

“Upon request”

Part VI, Line 2

“Jodie & Jon Richardson are directors & siblings”

Part VI, Line 11B

“It is reviewed at a regualar meeting of the Board of Directors”

Part VI, Line 19

“They were avaialable at the Annual Meeting & Monthly Board Meetings”

Filing and Contact Details

Filer

Filer Name
B&B Water Project Inc
EIN
35-1144643
In Care Of
% Jeffrey Underwood
Phone
8123320577
Address
PO Box 7287, Bloomington, IN 47407

Signing Officer

Name
Jeffrey Underwood
Title
Treasurer
Phone
8123203540
Signed
2025-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey H Underwood
Formed
1967
Legal Domicile
In
Voting Board Members
1,887
Independent Board Members
1,887
Employees
0

Preparer

Firm
Jeffrey H Underwood CPA
Address
6372 E Cox Drive, Bloomington, IN 47408
Preparer
Jeffrey H Underwood
Phone
8123320577
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0It is reviewed at a regular monthly board meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Jodie & Jon Richardson are directors & siblings
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3It is reviewed at a regualar meeting of the Board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4They were avaialable at the Annual Meeting & Monthly Board Meetings
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bloomington
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ReturnHeader/ReturnTs02025-03-14T19:46:56-05:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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