Civic Intelligence

Exeter-Merritt Water Cooperative

990 • Fiscal year 2014 • EIN 37-1242290

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 16, 2015

Organization ProfileN/A
35 Main Street Box 121Exeter, IL 62621

(217) 754-3090

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.69x

Higher debt load relative to assets than 92% of similar nonprofits.

2014 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

97th percentile

6.91x

Higher debt load relative to revenue than 97% of similar nonprofits.

2014 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2014

Net Margin

7th percentile

-30%

Higher net margin than 7% of similar nonprofits.

2014 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

59th percentile

$0

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2014

Asset Growth

13th percentile

-4.2%

Faster asset growth than 13% of similar nonprofits.

2014 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

6th percentile

-20%

Faster revenue growth than 6% of similar nonprofits.

2014 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$2,329,441

Down $100,916 (-4.2%) from 2013

Net Assets

Down

$732,047

Down $69,355 (-8.7%) from 2013

Liabilities

Down

$1,597,394

Down $31,561 (-1.9%) from 2013

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin7th percentile

Revenue

Down

$231,087

Down $58,967 (-20%) from 2013

Expenses

Down

$300,442

Down $3,901 (-1.3%) from 2013

Net Income

Down

-$69,355

Down $55,066 (-385%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$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

2014

Assets$2,329,441
Liabilities$1,597,394
Net Assets$732,047
Open 2014 Filing

Operations Trend

Revenue Growth6th percentile

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

2014

Revenue$231,087
Expenses$300,442
Net Income-$69,355
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 16, 2015
Return Version
2014v5.0
Gross Receipts
$231,087
Mission and Program Overview

Mission

Provide water to customers

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,335,456$2,246,727▼ $88,729
Cash and Non-Interest-Bearing Accounts$59,785$56,198▼ $3,587
Accounts Receivable$30,518$22,051▼ $8,467
Prepaid Expenses and Deferred Charges$4,598$4,465▼ $133
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$2,430,357$2,329,441▼ $100,916
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,609,926$1,582,257▼ $27,669
Accounts Payable and Accrued Expenses$19,029$15,137▼ $3,892
Total Liabilities$1,628,955$1,597,394▼ $31,561
Net Assets / Fund Balance
Temporarily Rstr Net Assets$801,402$732,047▼ $69,355
Total Net Assets Fund Balance$801,402$732,047▼ $69,355
Total Liabilities and Net Assets / Fund Balance$2,430,357$2,329,441▼ $100,916

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,170,542$918,498$3,089,040
Buildings$44,864$46,236$91,100
Equipment$10,589$20,140$30,729
Land$20,732-$20,732
Compensation and Service Providers
Top Officer Pay59th percentile

Board Members and Trustees

NameTitle
Tim RahePresident
Brad LakampVice President
Dustin CrewsDirector
Jack CurtisDirector
Mike HartmanDirector
Jim FreemanSecretary
Chris NobisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$230,992
Investment Income
$95
Other Revenue
$0
Change in Net Assets
$-69,355

Audited Revenue Reconciliation

Revenue per Audited Statements
$231,087
Total Revenue per Audited Statements
$231,087
Total Revenue per Form 990
$231,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$260,947
Salaries, Compensation, and Employee Benefits$39,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$93,288
Interest---$55,805
Other Salaries and Wages---$36,343
Travel---$10,805
Office Expenses---$8,711
Occupancy---$6,976
Insurance---$5,887
Other Expenses---$5,849
Fees for Services Accounting---$4,345
Payroll Taxes---$3,152
Fees for Services Other---$1,936
Fees for Services Legal---$738
Total Functional Expenses$0$0$0$300,442

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$300,442
Total Expenses per Audited Statements$300,442
Total Expenses per Form 990$300,442
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
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
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
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, Line 11B: Form 990 Review Process

“The governing board reviews the form 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 accountant.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization's governing documents and financial statements are 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
Signed
2015-06-16
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
Zumbahlen Eyth Surratt Foote & Flynn Ltd
Address
1395 Lincoln Avenue, Jacksonville, IL 62650
Preparer
Cynthia S Foote
Phone
2172455121
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The organization is exempt from federal income tax under Section 501(c)(12) of the Internal Revenue Code, except on 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 2012, 2013, and 2014 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/BuildingsGrp/OtherCostOrOtherBasisAmt091100
IRS990ScheduleD/EquipmentGrp/BookValueAmt010589
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020140
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt030729
IRS990ScheduleD/ExpensesSubtotalAmt0300442
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt020732
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020732
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02170542
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0918498
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03089040
IRS990ScheduleD/RevenueSubtotalAmt0231087
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization is exempt from federal income tax under Section 501(c)(12) of the Internal Revenue Code, except on 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 2012, 2013, and 2014 are subject to examination by the IRS, generally for 3 years after they were filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02246727
IRS990ScheduleD/TotalExpensesPerForm990Amt0300442
IRS990ScheduleD/TotalRevenuePerForm990Amt0231087
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0231087
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0300442
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BOARD REVIEWS THE FORM 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 ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0801402
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0732047
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02430357
IRS990/TotalAssetsEOYAmt02329441
IRS990/TotalAssetsGrp/BOYAmt02430357
IRS990/TotalAssetsGrp/EOYAmt02329441
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0300442
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01628955
IRS990/TotalLiabilitiesEOYAmt01597394
IRS990/TotalLiabilitiesGrp/BOYAmt01628955
IRS990/TotalLiabilitiesGrp/EOYAmt01597394
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0801402
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0732047
IRS990/TotalProgramServiceRevenueAmt0230992
IRS990/TotalRevenueGrp/ExclusionAmt095
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0230992
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0231087
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02430357
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02329441
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt010805
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM RAHE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-06-16
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/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Zumbahlen Eyth Surratt Foote & Flynn Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01395 Lincoln Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Jacksonville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd062650
ReturnHeader/PreparerPersonGrp/PhoneNum02172455121
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Cynthia S Foote
ReturnHeader/ReturnTs02015-06-16T12:32:41-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,329,441
Liabilities
$1,597,394
Net assets
$732,047
Revenue
$231,087
Expenses
$300,442
Net income
-$69,355
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