Civic Intelligence

Exeter-Merritt Water Cooperative

990 • Fiscal year 2017 • EIN 37-1242290

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 20, 2018

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

91st percentile

0.67x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

5.97x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Net Margin

13th percentile

-16%

Higher net margin than 13% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

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

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Asset Growth

20th percentile

-3.0%

Faster asset growth than 20% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

2nd percentile

-50%

Faster revenue growth than 2% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$2,176,164

Down $68,310 (-3.0%) from 2016

Net Assets

Down

$721,188

Down $38,476 (-5.1%) from 2016

Liabilities

Down

$1,454,976

Down $29,834 (-2.0%) from 2016

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin13th percentile

Revenue

Down

$243,649

Down $245,936 (-50%) from 2016

Expenses

Down

$282,125

Down $147,375 (-34%) from 2016

Net Income

Down

-$38,476

Down $98,561 (-164%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2017

Assets$2,176,164
Liabilities$1,454,976
Net Assets$721,188
Open 2017 Filing

Operations Trend

Revenue Growth2nd 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

2017

Revenue$243,649
Expenses$282,125
Net Income-$38,476
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 20, 2018
Return Version
2017v2.2
Gross Receipts
$243,649
Mission and Program Overview

Mission

Provide water to customers

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,078,232$1,996,418▼ $81,814
Cash and Non-Interest-Bearing Accounts$138,056$150,777▲ $12,721
Accounts Receivable$23,901$25,182▲ $1,281
Prepaid Expenses and Deferred Charges$4,285$3,787▼ $498
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$2,244,474$2,176,164▼ $68,310
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,471,290$1,442,937▼ $28,353
Accounts Payable and Accrued Expenses$13,520$12,039▼ $1,481
Total Liabilities$1,484,810$1,454,976▼ $29,834
Net Assets / Fund Balance
Temporarily Rstr Net Assets$759,664$721,188▼ $38,476
Total Net Assets Fund Balance$759,664$721,188▼ $38,476
Total Liabilities and Net Assets / Fund Balance$2,244,474$2,176,164▼ $68,310

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,932,363$1,156,677$3,089,040
Buildings$38,009$55,016$93,025
Equipment$5,314$25,415$30,729
Land$20,732-$20,732
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Tim RahePresident
Brad LakampVice President
Chris RichardsonDirector
Gary MccullochDirector
Jack CurtisDirector
Jim FreemanSecretary
Dustin CrewsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$243,448
Investment Income
$201
Other Revenue
$0
Change in Net Assets
$-38,476

Audited Revenue Reconciliation

Revenue per Audited Statements
$243,649
Total Revenue per Audited Statements
$243,649
Total Revenue per Form 990
$243,649
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$244,927
Salaries, Compensation, and Employee Benefits$37,198
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$83,739
Interest---$50,075
Other Salaries and Wages---$34,463
Travel---$9,553
Occupancy---$8,415
Insurance---$6,152
Fees for Services Accounting---$5,085
Office Expenses---$4,972
Payroll Taxes---$2,735
Other Expenses---$2,567
Fees for Services Legal---$1,928
Fees for Services Other---$690
Total Functional Expenses$0$0$0$282,125

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$282,125
Total Expenses per Audited Statements$282,125
Total Expenses per Form 990$282,125
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
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
2018-06-20
Discuss with paid preparer
Yes

Organization Details

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

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 2015, 2016, and 2017 are subject to examination by the IRS, generally for 3 years after they were filed.”

Raw XML Appendix355 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/OtherCostOrOtherBasisAmt093025
IRS990ScheduleD/EquipmentGrp/BookValueAmt05314
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025415
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt030729
IRS990ScheduleD/ExpensesSubtotalAmt0282125
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt020732
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020732
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01932363
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01156677
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03089040
IRS990ScheduleD/RevenueSubtotalAmt0243649
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 2015, 2016, and 2017 are subject to examination by the IRS, generally for 3 years after they were filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01996418
IRS990ScheduleD/TotalExpensesPerForm990Amt0282125
IRS990ScheduleD/TotalRevenuePerForm990Amt0243649
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0243649
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0282125
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/BOYAmt0759664
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0721188
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02244474
IRS990/TotalAssetsEOYAmt02176164
IRS990/TotalAssetsGrp/BOYAmt02244474
IRS990/TotalAssetsGrp/EOYAmt02176164
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0282125
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01484810
IRS990/TotalLiabilitiesEOYAmt01454976
IRS990/TotalLiabilitiesGrp/BOYAmt01484810
IRS990/TotalLiabilitiesGrp/EOYAmt01454976
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0759664
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0721188
IRS990/TotalProgramServiceRevenueAmt0243448
IRS990/TotalRevenueGrp/ExclusionAmt0201
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0243448
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0243649
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02244474
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02176164
IRS990/TravelGrp/TotalAmt09553
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM RAHE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-20
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/PreparerFirmEIN0371094064
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/ReturnTs02018-06-20T10:14:37-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,176,164
Liabilities
$1,454,976
Net assets
$721,188
Revenue
$243,649
Expenses
$282,125
Net income
-$38,476
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