Civic Intelligence

Jennings Water Inc

EIN 35-1404776 • 501(c)12 • North Vernon, IN

Profile

Distribute water to members

1595 East BuckeyeNorth Vernon, IN 47265

jenningswater.com

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.35x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

74th percentile

2.24x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2024

Net Margin

69th percentile

19%

Higher net margin than 69% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

47th percentile

2.6%

Faster asset growth than 47% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

68th percentile

12%

Faster revenue growth than 68% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$15,604,826

Up $307,620 (+2.0%) from 2023

Liabilities

Down

$5,527,855

Down $158,284 (-2.8%) from 2023

Net Assets

Up

$10,076,971

Up $465,904 (+4.8%) from 2023

Operations
Liabilities / Revenue74th percentileNet Margin69th percentile

Revenue

Down

$2,462,956

Down $332,040 (-12%) from 2023

Expenses

Down

$1,997,052

Down $163,136 (-7.6%) from 2023

Net Income

Down

$465,904

Down $168,904 (-27%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth47th percentile

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

$20M$15M$10M$5.0M$0Assets 2012: $15,263,516Liabilities 2012: $7,910,324Net Assets 2012: $7,353,1922012Assets 2013: $15,407,702Liabilities 2013: $7,450,230Net Assets 2013: $7,957,4722013Assets 2014: $15,206,720Liabilities 2014: $7,241,388Net Assets 2014: $7,965,3322014Assets 2015: $15,669,668Liabilities 2015: $7,280,769Net Assets 2015: $8,388,8992015Assets 2016: $15,104,962Liabilities 2016: $6,871,511Net Assets 2016: $8,233,4512016Assets 2017: $15,338,790Liabilities 2017: $6,684,438Net Assets 2017: $8,654,3522017Assets 2018: $15,359,247Liabilities 2018: $6,538,586Net Assets 2018: $8,820,6612018Assets 2019: $15,466,304Liabilities 2019: $6,366,432Net Assets 2019: $9,099,8722019Assets 2020: $15,163,329Liabilities 2020: $6,200,982Net Assets 2020: $8,962,3472020Assets 2021: $15,058,728Liabilities 2021: $6,041,804Net Assets 2021: $9,016,9242021Assets 2022: $14,838,111Liabilities 2022: $5,861,852Net Assets 2022: $8,976,2592022Assets 2023: $15,297,206Liabilities 2023: $5,686,139Net Assets 2023: $9,611,0672023Assets 2024: $15,604,826Liabilities 2024: $5,527,855Net Assets 2024: $10,076,9712024

Highlighted filing

2024

Assets$15,604,826
Liabilities$5,527,855
Net Assets$10,076,971
Open 2024 Filing

Operations Trend

Revenue Growth68th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $1,562,2172012Revenue 2013: $2,172,992Expenses 2013: $1,568,712Net Income 2013: $604,2802013Revenue 2014: $1,706,321Expenses 2014: $1,698,461Net Income 2014: $7,8602014Revenue 2015: $2,096,982Expenses 2015: $1,673,415Net Income 2015: $423,5672015Revenue 2016: $1,643,197Expenses 2016: $1,798,645Net Income 2016: -$155,4482016Revenue 2017: $2,067,814Expenses 2017: $1,646,913Net Income 2017: $420,9012017Revenue 2018: $1,898,306Expenses 2018: $1,731,997Net Income 2018: $166,3092018Revenue 2019: $1,931,819Expenses 2019: $1,652,608Net Income 2019: $279,2112019Revenue 2020: $1,986,958Expenses 2020: $2,124,483Net Income 2020: -$137,5252020Revenue 2021: $1,921,322Expenses 2021: $1,866,745Net Income 2021: $54,5772021Revenue 2022: $1,969,098Expenses 2022: $2,009,763Net Income 2022: -$40,6652022Revenue 2023: $2,794,996Expenses 2023: $2,160,188Net Income 2023: $634,8082023Revenue 2024: $2,462,956Expenses 2024: $1,997,052Net Income 2024: $465,9042024

Highlighted filing

2024

Revenue$2,462,956
Expenses$1,997,052
Net Income$465,904
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$15,604,826
Liabilities
$5,527,855
Net assets
$10,076,971
Revenue
$2,462,956
Expenses
$1,997,052
Net income
$465,904
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$15.6$5.53$10.1$2.46$2.00$0.47
2023Detailed filing. Detailed filing data is available for this year.$15.3$5.69$9.61$2.79$2.16$0.63
2022Detailed filing. Detailed filing data is available for this year.$14.8$5.86$8.98$1.97$2.01$0.04
2021Detailed filing. Detailed filing data is available for this year.$15.1$6.04$9.02$1.92$1.87$0.05
2020Detailed filing. Detailed filing data is available for this year.$15.2$6.20$8.96$1.99$2.12$0.14
2019Detailed filing. Detailed filing data is available for this year.$15.5$6.37$9.10$1.93$1.65$0.28
2018Detailed filing. Detailed filing data is available for this year.$15.4$6.54$8.82$1.90$1.73$0.17
2017Detailed filing. Detailed filing data is available for this year.$15.3$6.68$8.65$2.07$1.65$0.42
2016Detailed filing. Detailed filing data is available for this year.$15.1$6.87$8.23$1.64$1.80$0.16
2015Detailed filing. Detailed filing data is available for this year.$15.7$7.28$8.39$2.10$1.67$0.42
2014Detailed filing. Detailed filing data is available for this year.$15.2$7.24$7.97$1.71$1.70$0.01
2013Detailed filing. Detailed filing data is available for this year.$15.4$7.45$7.96$2.17$1.57$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.3$7.91$7.35$1.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 24, 2025
Return Version
2024v5.0
Gross Receipts
$2,482,198
Mission and Program Overview

Mission

Distribute water to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,155,150$13,587,535▲ $432,385
Pd in Cap Srpls Land Bldg Eqp Fund$7,959,894$8,637,399▲ $677,505
Rtn Earn Endowment Incm Other Fnds$1,651,173$1,439,572▼ $211,601
Savings and Temporary Cash Investments$1,001,932$1,068,287▲ $66,355
Cash and Non-Interest-Bearing Accounts$314,885$524,450▲ $209,565
Accounts Receivable$150,122$148,202▼ $1,920
Inventories for Sale or Use$70,505$99,482▲ $28,977
Prepaid Expenses and Deferred Charges$18,058$19,133▲ $1,075
Total Assets$15,297,206$15,604,826▲ $307,620
Other Assets Total$586,554$157,737▼ $428,817
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,518,088$5,317,744▼ $200,344
Accounts Payable and Accrued Expenses$83,905$123,365▲ $39,460
Other Liabilities$84,146$86,746▲ $2,600
Total Liabilities$5,686,139$5,527,855▼ $158,284
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,611,067$10,076,971▲ $465,904
Total Liabilities and Net Assets / Fund Balance$15,297,206$15,604,826▲ $307,620

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,992,227$6,844,393$19,836,620
Equipment$366,915$471,717$838,632
Land$228,393-$228,393
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleBaseTotal
David BeesleyPresident$5,650$5,650
Phillip DaegerTreasurer$4,850$4,850
Clyde CampbellSecretary$4,650$4,650
Susie HattonVice Pres.$4,150$4,150
Jeff GeeDirector$3,850$3,850
Kameron GarlitchDirector$3,850$3,850
Ron BloemerDirector$3,650$3,650
Tom FloraDirector$3,650$3,650
Harold DayDirector$3,450$3,450
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,423,623
Investment Income
$24,420
Other Revenue
$14,913
Change in Net Assets
$465,904

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,322,541
Revenue Not Reported on Financial Statements
$140,415
Other Revenue Adjustments
$140,415
Total Revenue per Audited Statements
$2,322,541
Total Revenue per Form 990
$2,462,956
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,345,488
Salaries, Compensation, and Employee Benefits$651,564
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$407,351
Depreciation Depletion---$335,279
All Other Expenses---$247,208
Interest---$236,736
Other Employee Benefits---$171,715
Other Expenses---$71,410
Current Officers, Directors, Trustees, and Key Employees---$38,050
Payroll Taxes---$34,448
Fees for Services Legal---$19,466
Travel---$18,140
Fees for Services Accounting---$14,176
Fees for Services Lobbying---$125
Total Functional Expenses$0$0$0$1,997,052

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,997,052
Total Expenses per Audited Statements$1,997,052
Total Expenses per Form 990$1,997,052
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
Rental Deposits$47,155
Ref. Memberships$38,541
Rental Deposit$1,050
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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 elected at annual meeting”

Form 990, Page 6, Part VI, Line 7B

“Rate changes are subject to approval by members”

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

“The board of directors is sent the return and it is reviewed prior to submitting the return.”

Form 990, Page 6, Part VI, Line 12C

“Monitored by the board of directors monthly”

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

“Determined by the board of directors”

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

“Determined by the board of directors”

Form 990, Page 6, Part VI, Line 19

“Form 990 is available upon request.”

Filing and Contact Details

Filer

Filer Name
Jennings Water Inc
EIN
35-1404776
Phone
8123465874
Address
1595 EAST BUCKEYE, NORTH VERNON, IN 47265

Signing Officer

Name
Phillip Daeger
Title
Treasurer
Phone
8123465874
Signed
2025-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Beesley
Formed
1975
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
7

Preparer

Firm
Rbsk Partners Pc
Address
PO BOX 200, GREENSBURG, IN 47240-0200
Preparer
Nicholas P Wallpe CPA
Phone
8126637567
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Cont. Serv-plant/dist. 64,954 0 0 insurance-general 34,486 0 0 office maintenance 32,882 0 0 ar billing expenses 29,253 0 0 misc. Plant and dist. 22,356 0 0 purchased telephone 18,114 0 0 office misc. 13,112 0 0 cont. Serv. Engineer 8,388 0 0 insurance-vehicle 6,529 0 0 office supplies 5,792 0 0 insurance-other 3,944 0 0 ins.-workmans comp. 3,581 0 0 employee training 1,946 0 0 purchased water 1,457 0 0 bad debt expense 344 0 0 rental property expense 70 0 0 total 247,208 0 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“Income taxes are not provided for in the financial statements since the utility is exempt from federal and state income taxes under section 501(c) (12) of the internal revenue code and similar state provisions. The utility is not classified as a private foundation. The utility has adopted accounting rules that prescribe when to recognize and how to measure the financial statements effect, if any, of income tax positions taken or expected to be taken on its income tax returns, including the position that the utility continues to qualify to be treated as a not-for-profit corporation for both federal and state income tax purposes. These rules require management to evaluate the likelihood that, upon examination by relevant taxing jurisdictions, those income tax positions would be sustained. Based on that evaluation, if it were more than 50% probable that a material amount of income tax would be imposed at the entity level upon examination by the relevant taxing authorities, a liability would be recognized in the accompanying balance sheet along with any interest and penalties that would result from that assessment. Should any such penalties and interest be incurred, the utility's policy would be to recognize them as operating expenses. No interest or penalties have been accrued or charged to expense as of december 31, 2024 and 2023. The utilitys federal and state income tax returns for 2021 through 2024 are subject to possible examination by the taxing authorities until the expiration of the related statutes of limitations on those tax returns. In general, the federal and state income tax returns have a three-year statute of limitations.”

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

“Membership dues & assessments 16,157 tap fees and line extensions 124,258”

Raw XML AppendixShowing 400 of 406 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/PrincipalOfficerNm0DAVID BEESLEY
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES ARE NOT PROVIDED FOR IN THE FINANCIAL STATEMENTS SINCE THE UTILITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C) (12) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE PROVISIONS. THE UTILITY IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. THE UTILITY HAS ADOPTED ACCOUNTING RULES THAT PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENTS EFFECT, IF ANY, OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON ITS INCOME TAX RETURNS, INCLUDING THE POSITION THAT THE UTILITY CONTINUES TO QUALIFY TO BE TREATED AS A NOT-FOR-PROFIT CORPORATION FOR BOTH FEDERAL AND STATE INCOME TAX PURPOSES. THESE RULES REQUIRE MANAGEMENT TO EVALUATE THE LIKELIHOOD THAT, UPON EXAMINATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED AT THE ENTITY LEVEL UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITIES, A LIABILITY WOULD BE RECOGNIZED IN THE ACCOMPANYING BALANCE SHEET ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. SHOULD ANY SUCH PENALTIES AND INTEREST BE INCURRED, THE UTILITY'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. NO INTEREST OR PENALTIES HAVE BEEN ACCRUED OR CHARGED TO EXPENSE AS OF DECEMBER 31, 2024 AND 2023. THE UTILITYS FEDERAL AND STATE INCOME TAX RETURNS FOR 2021 THROUGH 2024 ARE SUBJECT TO POSSIBLE EXAMINATION BY THE TAXING AUTHORITIES UNTIL THE EXPIRATION OF THE RELATED STATUTES OF LIMITATIONS ON THOSE TAX RETURNS. IN GENERAL, THE FEDERAL AND STATE INCOME TAX RETURNS HAVE A THREE-YEAR STATUTE OF LIMITATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MEMBERSHIP DUES & ASSESSMENTS 16,157 TAP FEES AND LINE EXTENSIONS 124,258
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS ELECTED AT ANNUAL MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RATE CHANGES ARE SUBJECT TO APPROVAL BY MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS SENT THE RETURN AND IT IS REVIEWED PRIOR TO SUBMITTING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MONITORED BY THE BOARD OF DIRECTORS MONTHLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DETERMINED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DETERMINED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FORM 990 IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONT. SERV-PLANT/DIST. 64,954 0 0 INSURANCE-GENERAL 34,486 0 0 OFFICE MAINTENANCE 32,882 0 0 AR BILLING EXPENSES 29,253 0 0 MISC. PLANT AND DIST. 22,356 0 0 PURCHASED TELEPHONE 18,114 0 0 OFFICE MISC. 13,112 0 0 CONT. SERV. ENGINEER 8,388 0 0 INSURANCE-VEHICLE 6,529 0 0 OFFICE SUPPLIES 5,792 0 0 INSURANCE-OTHER 3,944 0 0 INS.-WORKMANS COMP. 3,581 0 0 EMPLOYEE TRAINING 1,946 0 0 PURCHASED WATER 1,457 0 0 BAD DEBT EXPENSE 344 0 0 RENTAL PROPERTY EXPENSE 70 0 0 TOTAL 247,208 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 24E
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IRS990/USAddress/AddressLine1Txt04175 N COUNTY ROAD 590 W
IRS990/USAddress/CityNm0NORTH VERNON
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047265
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IRS990/WebsiteAddressTxt0JENNINGSWATER.COM
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PHILLIP DAEGER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08123465874
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0JENNINGS WATER INC
ReturnHeader/Filer/BusinessNameControlTxt0JENN
ReturnHeader/Filer/EIN0351404776
ReturnHeader/Filer/PhoneNum08123465874
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202213517
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0472400200
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-07-24

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