Civic Intelligence

Exeter-Merritt Water Cooperative

EIN 37-1242290 • 501(c)12 • Exeter, IL

Profile

Provide water to customers

35 Main Street Box 121Exeter, IL 62621

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

38th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)12 • <$500k nonprofits • Source year 2024

Net Margin

15th percentile

-32%

Higher net margin than 15% of similar nonprofits.

501(c)12 • <$500k 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

6th percentile

-100%

Faster asset growth than 6% of similar nonprofits.

501(c)12 • <$500k nonprofits • Annualized from 2022 to 2024

Revenue Growth

20th percentile

-13%

Faster revenue growth than 20% of similar nonprofits.

501(c)12 • <$500k nonprofits • Annualized from 2022 to 2024

Assets

Down

$0

Down $1,841,734 (-100%) from 2023

Liabilities

Down

$0

Down $1,221,207 (-100%) from 2023

Net Assets

Down

$0

Down $620,527 (-100%) from 2023

Revenue

Down

$191,956

Down $63,166 (-25%) from 2023

Expenses

Down

$254,039

Down $21,610 (-7.8%) from 2023

Net Income

Down

-$62,083

Down $41,556 (-202%) from 2023

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,660,130Liabilities 2011: $1,861,484Net Assets 2011: $798,6462011Assets 2012: $2,469,479Liabilities 2012: $1,653,788Net Assets 2012: $815,6912012Assets 2013: $2,430,357Liabilities 2013: $1,628,955Net Assets 2013: $801,4022013Assets 2014: $2,329,441Liabilities 2014: $1,597,394Net Assets 2014: $732,0472014Assets 2015: $2,264,940Liabilities 2015: $1,565,361Net Assets 2015: $699,5792015Assets 2016: $2,244,474Liabilities 2016: $1,484,810Net Assets 2016: $759,6642016Assets 2017: $2,176,164Liabilities 2017: $1,454,976Net Assets 2017: $721,1882017Assets 2018: $2,120,126Liabilities 2018: $1,432,009Net Assets 2018: $688,1172018Assets 2019: $2,060,352Liabilities 2019: $1,396,604Net Assets 2019: $663,7482019Assets 2020: $2,016,857Liabilities 2020: $1,361,873Net Assets 2020: $654,9842020Assets 2021: $1,989,530Liabilities 2021: $1,325,247Net Assets 2021: $664,2832021Assets 2022: $1,896,030Liabilities 2022: $1,254,976Net Assets 2022: $641,0542022Assets 2023: $1,841,734Liabilities 2023: $1,221,207Net Assets 2023: $620,5272023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $222,9612011Expenses 2012: $291,7392012Revenue 2013: $290,054Expenses 2013: $304,343Net Income 2013: -$14,2892013Revenue 2014: $231,087Expenses 2014: $300,442Net Income 2014: -$69,3552014Revenue 2015: $245,964Expenses 2015: $278,432Net Income 2015: -$32,4682015Revenue 2016: $489,585Expenses 2016: $429,500Net Income 2016: $60,0852016Revenue 2017: $243,649Expenses 2017: $282,125Net Income 2017: -$38,4762017Revenue 2018: $259,739Expenses 2018: $292,810Net Income 2018: -$33,0712018Revenue 2019: $243,795Expenses 2019: $268,164Net Income 2019: -$24,3692019Revenue 2020: $248,531Expenses 2020: $257,295Net Income 2020: -$8,7642020Revenue 2021: $278,740Expenses 2021: $269,441Net Income 2021: $9,2992021Revenue 2022: $255,805Expenses 2022: $279,034Net Income 2022: -$23,2292022Revenue 2023: $255,122Expenses 2023: $275,649Net Income 2023: -$20,5272023Revenue 2024: $191,956Expenses 2024: $254,039Net Income 2024: -$62,0832024

Highlighted filing

2024

Revenue$191,956
Expenses$254,039
Net Income-$62,083

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.19$0.25$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.84$1.22$0.62$0.26$0.28$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.90$1.25$0.64$0.26$0.28$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.99$1.33$0.66$0.28$0.27$0.01
2020Detailed filing. Detailed filing data is available for this year.$2.02$1.36$0.65$0.25$0.26$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.06$1.40$0.66$0.24$0.27$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.12$1.43$0.69$0.26$0.29$0.03
2017Detailed filing. Detailed filing data is available for this year.$2.18$1.45$0.72$0.24$0.28$0.04
2016Detailed filing. Detailed filing data is available for this year.$2.24$1.48$0.76$0.49$0.43$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.26$1.57$0.70$0.25$0.28$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.33$1.60$0.73$0.23$0.30$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.43$1.63$0.80$0.29$0.30$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.47$1.65$0.82$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.66$1.86$0.80$0.22
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Sep 30, 2024
Signed
Jul 15, 2025
Return Version
2024v5.2
Gross Receipts
$191,956
Mission and Program Overview

Mission

Provide water to customers

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,612,820$0▼ $1,612,820
Cash and Non-Interest-Bearing Accounts$193,682$0▼ $193,682
Accounts Receivable$30,985$0▼ $30,985
Prepaid Expenses and Deferred Charges$4,247$0▼ $4,247
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,841,734$0▼ $1,841,734
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,213,371$0▼ $1,213,371
Accounts Payable and Accrued Expenses$7,836$0▼ $7,836
Total Liabilities$1,221,207$0▼ $1,221,207
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$472,717$0▼ $472,717
Net Assets With Donor Restrictions$147,810$0▼ $147,810
Total Net Assets Fund Balance$620,527$0▼ $620,527
Total Liabilities and Net Assets / Fund Balance$1,841,734$0▼ $1,841,734

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,521,593$1,572,874$3,094,467
Buildings$23,132$76,753$99,885
Equipment$1,561$39,416$40,977
Land$20,732-$20,732
Compensation and Service Providers

Board Members and Trustees

NameTitle
Tim RahePresident
Brad LakampVice President
Brent RoseDirector
Gary MccullockDirector
Jack CurtisDirector
Jim FreemanSecretary
Dustin CrewsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$191,499
Investment Income
$457
Other Revenue
$0
Change in Net Assets
$-62,083

Audited Revenue Reconciliation

Revenue per Audited Statements
$191,956
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$191,956
Total Revenue per Form 990
$191,956
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$229,247
Salaries, Compensation, and Employee Benefits$24,792
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$45,802
Interest---$29,764
Comp Disqual Persons---$22,869
Fees for Services Accounting---$14,595
Other Expenses---$13,392
Fees for Services Legal---$8,682
Occupancy---$8,294
Insurance---$6,025
Payroll Taxes---$1,923
Travel---$1,876
All Other Expenses---$653
Total Functional Expenses$0$0$0$254,039

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$254,039
Total Expenses per Audited Statements$254,039
Total Expenses per Form 990$254,039
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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

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

The governing board reviews the 990 for accuracy and completeness at the first board meeting subsequent to the completion of the return. Questions or concerns are directed to the cooperative's account.

Form 990, Part VI, Section C, Line 19

Documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Exeter-merritt Water Cooperative
EIN
37-1242290
Phone
2177543090
Address
35 MAIN STREET BOX 121, EXETER, IL 62621

Signing Officer

Name
Tim Rahe
Title
President
Phone
2174723901
Signed
2025-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Rahe
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
5

Preparer

Firm
Loy Miller Talley Pc
Address
2 CROSSROADS CT, ALTON, IL 62002
Preparer
Karl Holmes
Phone
6184651196
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Net assets transferred to ein 91-1907013 due to merger -558,444.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income tax under section 501(c)(12) of the internal revenue code, except net income which is subject to tax on unrelated business activities. The organization has no income which is subject to tax on unrelated business activities. The organization believes that it has appropriate support for any tax positions taken, and such, does not have any uncertain tax positions that are material to the financial statements. The organization's forms 990, return of organization exempt from income tax, for the years ending 2020, 2021, and 2022 are subject to examination by the irs, generally for 3 years after they were filed.

Raw XML Appendix356 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/LandGrp/OtherCostOrOtherBasisAmt020732
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01521593
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01572874
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03094467
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0191956
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, EXCEPT NET INCOME WHICH IS SUBJECT TO TAX ON UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION HAS NO INCOME WHICH IS SUBJECT TO TAX ON UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FOR THE YEARS ENDING 2020, 2021, AND 2022 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR 3 YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01567018
IRS990ScheduleD/TotalExpensesPerForm990Amt0254039
IRS990ScheduleD/TotalRevenuePerForm990Amt0191956
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0191956
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0254039
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd00
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0ALL ASSETS WERE TRANSFERRED TO SCOTT-MORGAN-GREEN WATER COOPERATIVE IN ACCORDANCE WITH THE MERGER OF THE TWO WATER COOPERATIVES.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0SCOTT-MORGAN-GREENE WATER COOPERATIVE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02024-09-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0911907013
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt01685829
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)12
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE OF ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt01576 WALLIS ROAD
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0WINCHESTER
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0IL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd062694
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BOARD REVIEWS THE 990 FOR ACCURACY AND COMPLETENESS AT THE FIRST BOARD MEETING SUBSEQUENT TO THE COMPLETION OF THE RETURN. QUESTIONS OR CONCERNS ARE DIRECTED TO THE COOPERATIVE'S ACCOUNT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NET ASSETS TRANSFERRED TO EIN 91-1907013 DUE TO MERGER -558,444.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt01841734
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt01841734
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/TotalAmt0254039
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01221207
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt01221207
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0620527
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0191499
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0457
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0191499
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0191956
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01841734
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt01876
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01703 HARTS GRAVEL RD
IRS990/USAddress/CityNm0BLUFFS
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd062621
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM RAHE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02174723901
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EXETER-MERRITT WATER COOPERATIVE
ReturnHeader/Filer/BusinessNameControlTxt0EXET
ReturnHeader/Filer/EIN0371242290
ReturnHeader/Filer/PhoneNum02177543090
ReturnHeader/Filer/USAddress/AddressLine1Txt035 MAIN STREET BOX 121
ReturnHeader/Filer/USAddress/CityNm0EXETER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd062621
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0371109618
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LOY MILLER TALLEY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02 CROSSROADS CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd062002
ReturnHeader/PreparerPersonGrp/PhoneNum06184651196
ReturnHeader/PreparerPersonGrp/PreparationDt02025-07-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KARL HOLMES
ReturnHeader/ReturnTs02025-07-15T08:04:19-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02024

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