Civic Intelligence

B&B Water Project Inc

990 • Fiscal year 2022 • EIN 35-1144643

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 05, 2023

Organization Profilebandbwaterproject.com
PO Box 7287Bloomington, IN 47407

(812) 332-0577

Siviq Scores

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

Liabilities / Assets

38th percentile

0.13x

Higher debt load relative to assets than 38% of similar nonprofits.

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

Liabilities / Revenue

31st percentile

0.21x

Higher debt load relative to revenue than 31% of similar nonprofits.

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

Net Margin

16th percentile

-15%

Higher net margin than 16% of similar nonprofits.

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

Top Officer Pay

80th percentile

$8,820

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

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

Asset Growth

5th percentile

-7.8%

Faster asset growth than 5% of similar nonprofits.

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

Revenue Growth

55th percentile

6.7%

Faster revenue growth than 55% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$1,308,690

Down $110,049 (-7.8%) from 2021

Net Assets

Down

$1,142,098

Down $110,273 (-8.8%) from 2021

Liabilities

Up

$166,592

Up $224 (+0.1%) from 2021

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin16th percentile

Revenue

Up

$790,879

Up $49,999 (+6.7%) from 2021

Expenses

Up

$905,678

Up $86,276 (+11%) from 2021

Net Income

Down

-$114,799

Down $36,277 (-46%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$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

2022

Assets$1,308,690
Liabilities$166,592
Net Assets$1,142,098
Open 2022 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$790,879
Expenses$905,678
Net Income-$114,799
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 5, 2023
Return Version
2022v5.0
Gross Receipts
$790,879
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$1,090,161$1,028,573▼ $61,588
Pd in Cap Srpls Land Bldg Eqp Fund$1,008,917$1,009,643▲ $726
Cash and Non-Interest-Bearing Accounts$255,356$204,636▼ $50,720
Cap Stk Tr Prin Current Funds$160,017$163,817▲ $3,800
Accounts Receivable$73,222$75,481▲ $2,259
Rtn Earn Endowment Incm Other Fnds$235,946$-35,888▼ $271,834
Total Assets$1,418,739$1,308,690▼ $110,049
Liabilities
Unsecured Notes Loans Payable$116,462$92,758▼ $23,704
Accounts Payable and Accrued Expenses$46,039$56,129▲ $10,090
Other Liabilities$3,867$17,705▲ $13,838
Total Liabilities$166,368$166,592▲ $224
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,252,371$1,142,098▼ $110,273
Total Net Assets Fund Balance$1,252,371$1,142,098▼ $110,273
Total Liabilities and Net Assets / Fund Balance$1,418,739$1,308,690▼ $110,049

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$974,299$2,388,323-
Land$24,456--
Equipment$29,818$23,615-
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey H UnderwoodTreasurerPT$8,820$8,820
Dale LisbyPresidentPT$5,220$5,220
David SharpSecretaryPT$3,720$3,720
Jay FloydVice PresidentPT$3,720$3,720
Brian CrouchDirector-$1,320$1,320
Jodie RichardsonDirector-$1,320$1,320
Jon RichardsonDirector-$1,320$1,320
Scott MooreDirector-$1,320$1,320
Tyler BunchDirector-$1,320$1,320

Highest Paid Contractors

ContractorServicesLocationCompensation
Bynum Fanyo UtilitiesSystem Operator320 W 8th Street, Bloomington, IN 47404$216,448
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$789,514
Investment Income
$0
Other Revenue
$1,365
Change in Net Assets
$-114,799
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$878,798
Salaries, Compensation, and Employee Benefits$26,880
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$61,588--$61,588
All Other Expenses$38,854--$38,854
Current Officers, Directors, Trustees, and Key Employees-$26,880-$26,880
Office Expenses$9,382$9,408-$18,790
Occupancy$18,000--$18,000
Insurance$7,449--$7,449
Interest$6,384--$6,384
Other Expenses$4,690--$4,690
Fees for Services Legal-$870-$870
Fees for Services Accounting-$300-$300
Total Functional Expenses$868,220$37,458$0$905,678
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
Customer Construction Deposit$12,950
Sales Taxes$4,755
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
No
Management duties delegated
No

Governance Explanations

Part VI Line 2

“Jodie & Jon Richardson are directors and siblings”

Part VI Line 11B

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

Part VI Line 19

“They were avaiable at the Annual Meeting & Monthly Board meetings”

Part VI, Line 6

“Customers are members of the corporation”

Part VI, Line 7A

“Members vote for the directors at its Annual Meeting”

Part VI, Line 11B

“The 990 is reviewed at a monthly meeting of the Board of Directors”

Part VI, Line 19

“Bylasws are available for inspection at the Company office”

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
8123320577
Signed
2023-04-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey H Underwood
Formed
1967
Legal Domicile
In
Voting Board Members
1,864
Independent Board Members
1,864
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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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Jodie & Jon Richardson are directors and siblings
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The 990 is reviewed at a monthly meeting of the Board of Directors
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ReturnHeader/Filer/InCareOfNm0% Jeffrey Underwood
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Jeffrey H Underwood CPA
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ReturnHeader/ReturnTs02023-04-05T16:21:55-05:00
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,308,690
Liabilities
$166,592
Net assets
$1,142,098
Revenue
$790,879
Expenses
$905,678
Net income
-$114,799
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