Civic Intelligence

Mapleturn Utilities Inc

990 • Fiscal year 2023 • EIN 35-1732031

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 24, 2024

Organization ProfileN/A
2901 Mapleturn RdMartinsville, IN 46151

(765) 342-7953

Siviq Scores

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

Liabilities / Assets

66th percentile

0.37x

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

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

69th percentile

1.74x

Higher debt load relative to revenue than 69% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

94th percentile

$71,771

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Asset Growth

26th percentile

-2.4%

Faster asset growth than 26% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

3.3%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$3,921,971

Down $95,986 (-2.4%) from 2022

Net Assets

Down

$2,485,643

Down $57,173 (-2.2%) from 2022

Liabilities

Down

$1,436,328

Down $38,813 (-2.6%) from 2022

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin20th percentile

Revenue

Up

$824,431

Up $26,333 (+3.3%) from 2022

Expenses

Up

$907,137

Up $75,235 (+9.0%) from 2022

Net Income

Down

-$82,706

Down $48,902 (-145%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$6.0M$4.0M$2.0M$0Assets 2014: $4,105,722Liabilities 2014: $1,703,816Net Assets 2014: $2,401,9062014Assets 2015: $4,034,751Liabilities 2015: $1,672,450Net Assets 2015: $2,362,3012015Assets 2016: $3,954,253Liabilities 2016: $1,640,540Net Assets 2016: $2,313,7132016Assets 2017: $3,902,608Liabilities 2017: $1,612,586Net Assets 2017: $2,290,0222017Assets 2020: $4,028,605Liabilities 2020: $1,533,655Net Assets 2020: $2,494,9502020Assets 2021: $4,043,049Liabilities 2021: $1,501,350Net Assets 2021: $2,541,6992021Assets 2022: $4,017,957Liabilities 2022: $1,475,141Net Assets 2022: $2,542,8162022Assets 2023: $3,921,971Liabilities 2023: $1,436,328Net Assets 2023: $2,485,6432023Assets 2024: $3,708,837Liabilities 2024: $1,404,290Net Assets 2024: $2,304,5472024

Highlighted filing

2023

Assets$3,921,971
Liabilities$1,436,328
Net Assets$2,485,643
Open 2023 Filing

Operations Trend

Revenue Growth43rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $620,409Expenses 2014: $736,486Net Income 2014: -$116,0772014Revenue 2015: $631,342Expenses 2015: $692,855Net Income 2015: -$61,5132015Revenue 2016: $645,165Expenses 2016: $698,500Net Income 2016: -$53,3352016Revenue 2017: $693,530Expenses 2017: $707,030Net Income 2017: -$13,5002017Revenue 2020: $762,782Expenses 2020: $724,068Net Income 2020: $38,7142020Revenue 2021: $770,191Expenses 2021: $733,468Net Income 2021: $36,7232021Revenue 2022: $798,098Expenses 2022: $831,902Net Income 2022: -$33,8042022Revenue 2023: $824,431Expenses 2023: $907,137Net Income 2023: -$82,7062023Revenue 2024: $815,576Expenses 2024: $1,000,441Net Income 2024: -$184,8652024

Highlighted filing

2023

Revenue$824,431
Expenses$907,137
Net Income-$82,706
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 24, 2024
Return Version
2023v5.0
Gross Receipts
$824,431
Mission and Program Overview

Mission

Provide potable water and sewage for those in the serving area

Water and wastewater utility. Provide services to our members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,910,759$2,974,400▲ $63,641
Rtn Earn Endowment Incm Other Fnds$2,542,816$2,485,643▼ $57,173
Savings and Temporary Cash Investments$824,352$853,623▲ $29,271
Accounts Receivable$65,903$64,326▼ $1,577
Cash and Non-Interest-Bearing Accounts$213,329$24,709▼ $188,620
Prepaid Expenses and Deferred Charges$3,614$4,913▲ $1,299
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,017,957$3,921,971▼ $95,986
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,461,276$1,429,168▼ $32,108
Accounts Payable and Accrued Expenses$12,093$10,480▼ $1,613
Other Liabilities$1,772$-3,320▼ $5,092
Total Liabilities$1,475,141$1,436,328▼ $38,813
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,542,816$2,485,643▼ $57,173
Total Liabilities and Net Assets / Fund Balance$4,017,957$3,921,971▼ $95,986

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,742,316$2,758,296$5,500,612
Land$222,222-$222,222
Buildings$9,862$19,983$29,845
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kent GarrisonManagerFT$71,771$71,771

Board Members and Trustees

NameTitle
Mike HinshawBoard President
Phil ProbstVice President
Jim WardMember
Mike BodineMember
Steve EdsonSecretary
Brian StremmingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$790,321
Investment Income
$29,271
Other Revenue
$4,839
Change in Net Assets
$-82,706

Audited Revenue Reconciliation

Revenue per Audited Statements
$824,431
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$824,431
Total Revenue per Form 990
$824,431
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$461,704
Other Expenses$445,433
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$331,954--$331,954
Depreciation Depletion$141,267--$141,267
Other Employee Benefits$99,143--$99,143
Interest$47,012--$47,012
Insurance$27,404--$27,404
Office Expenses$27,043--$27,043
Payroll Taxes$26,278--$26,278
Other Expenses$25,395--$25,395
Fees for Services Accounting$10,572--$10,572
All Other Expenses$8,659--$8,659
Fees for Services Other$7,103--$7,103
Pension Plan Contributions$4,329--$4,329
Total Functional Expenses$907,137$0$0$907,137

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$907,137
Total Expenses per Audited Statements$907,137
Total Expenses per Form 990$907,137
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Accrued Interest$1,561
Customers Deposits$-4,881
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“All members have the right to vote at the annual meeting for members of the board whose term has expired. One must be member in order to get water and/or sewage service”

Form 990, Part VI, Section A, Line 8B

“No subcommittee can bind the board to their decision without the consent of the entire board”

Form 990, Part VI, Section B, Line 11B

“The board reviews the 990 the meeting after the return is filed”

Form 990, Part VI, Section B, Line 12C

“Board members annually sign a conflict of interest statement. Board members are monitored by others as to the extent of the potential conflict”

Form 990, Part VI, Section C, Line 19

“Any member can request a copy of the 990, financial statements or conflict of interest policy by coming to the office during normal business hours”

Filing and Contact Details

Filer

Filer Name
Mapleturn Utilities Inc
EIN
35-1732031
Phone
7653427953
Address
2901 MAPLETURN RD, MARTINSVILLE, IN 46151

Signing Officer

Name
Kent Garrison
Title
Manager
Phone
7653427953
Signed
2024-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hinshaw
Formed
1988
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
7
Volunteers
0

Preparer

Firm
Pershing & Company Inc
Address
20 CENTRAL SQUARE, GREENCASTLE, IN 46135
Preparer
Curtis C Krominaker CPA
Phone
7656534120
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Contribution in aid of construction 25,533.”

Raw XML Appendix379 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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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt05500612
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01561
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-4881
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CUSTOMERS DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0824431
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02974400
IRS990ScheduleD/TotalExpensesPerForm990Amt0907137
IRS990ScheduleD/TotalLiabilityAmt0-3320
IRS990ScheduleD/TotalRevenuePerForm990Amt0824431
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0824431
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0907137
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL MEMBERS HAVE THE RIGHT TO VOTE AT THE ANNUAL MEETING FOR MEMBERS OF THE BOARD WHOSE TERM HAS EXPIRED. ONE MUST BE MEMBER IN ORDER TO GET WATER AND/OR SEWAGE SERVICE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO SUBCOMMITTEE CAN BIND THE BOARD TO THEIR DECISION WITHOUT THE CONSENT OF THE ENTIRE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS THE 990 THE MEETING AFTER THE RETURN IS FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT. BOARD MEMBERS ARE MONITORED BY OTHERS AS TO THE EXTENT OF THE POTENTIAL CONFLICT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANY MEMBER CAN REQUEST A COPY OF THE 990, FINANCIAL STATEMENTS OR CONFLICT OF INTEREST POLICY BY COMING TO THE OFFICE DURING NORMAL BUSINESS HOURS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRIBUTION IN AID OF CONSTRUCTION 25,533.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04017957
IRS990/TotalAssetsEOYAmt03921971
IRS990/TotalAssetsGrp/BOYAmt04017957
IRS990/TotalAssetsGrp/EOYAmt03921971
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0907137
IRS990/TotalFunctionalExpensesGrp/TotalAmt0907137
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01475141
IRS990/TotalLiabilitiesEOYAmt01436328
IRS990/TotalLiabilitiesGrp/BOYAmt01475141
IRS990/TotalLiabilitiesGrp/EOYAmt01436328
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02542816
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02485643
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt010523
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt010523
IRS990/TotalProgramServiceExpensesAmt0907137
IRS990/TotalProgramServiceRevenueAmt0790321
IRS990/TotalReportableCompFromOrgAmt071771
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0824431
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0824431
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04017957
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03921971
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02901 E MAPLETURN ROAD
IRS990/USAddress/CityNm0MARTINSVILLE
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046151
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KENT GARRISON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum07653427953
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAPLETURN UTILITIES INC
ReturnHeader/Filer/BusinessNameControlTxt0MAPL
ReturnHeader/Filer/EIN0351732031
ReturnHeader/Filer/PhoneNum07653427953
ReturnHeader/Filer/USAddress/AddressLine1Txt02901 MAPLETURN RD
ReturnHeader/Filer/USAddress/CityNm0MARTINSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046151
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351402437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PERSHING & COMPANY INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt020 CENTRAL SQUARE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENCASTLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046135
ReturnHeader/PreparerPersonGrp/PhoneNum07656534120
ReturnHeader/PreparerPersonGrp/PreparationDt02024-04-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CURTIS C KROMINAKER CPA
ReturnHeader/ReturnTs02024-05-15T12:46:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KENT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GARRISON
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,921,971
Liabilities
$1,436,328
Net assets
$2,485,643
Revenue
$824,431
Expenses
$907,137
Net income
-$82,706
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.71$1.40$2.30$0.82$1.00$0.18
2023Detailed filing. Detailed filing data is available for this year.$3.92$1.44$2.49$0.82$0.91$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.02$1.48$2.54$0.80$0.83$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.04$1.50$2.54$0.77$0.73$0.04
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$1.53$2.49$0.76$0.72$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.90$1.61$2.29$0.69$0.71$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.95$1.64$2.31$0.65$0.70$0.05
2015Detailed filing. Detailed filing data is available for this year.$4.03$1.67$2.36$0.63$0.69$0.06
2014Detailed filing. Detailed filing data is available for this year.$4.11$1.70$2.40$0.62$0.74$0.12