Civic Intelligence

Osceola County Rural Water System

990 • Fiscal year 2015 • EIN 42-1068607

Jan 01, 2015 to Dec 31, 2015 • Filed on Feb 15, 2016

Organization ProfileOSCEOLA.MYRURALWATER.COM
2270 Walnut AvenueMay City, IA 51354

(712) 735-6795

Siviq Scores

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

Liabilities / Assets

31st percentile

0.43x

Higher debt load relative to assets than 31% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

86th percentile

2.72x

Higher debt load relative to revenue than 86% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Net Margin

97th percentile

27%

Higher net margin than 97% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

7th percentile

$1,400

Higher top officer pay than 7% of similar nonprofits.

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

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Asset Growth

96th percentile

13%

Faster asset growth than 96% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

96th percentile

12%

Faster revenue growth than 96% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$30,369,145

Up $3,479,271 (+13%) from 2014

Net Assets

Up

$17,179,914

Up $1,324,132 (+8.4%) from 2014

Liabilities

Up

$13,189,231

Up $2,155,139 (+20%) from 2014

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin97th percentile

Revenue

Up

$4,847,632

Up $532,630 (+12%) from 2014

Expenses

Up

$3,528,700

Up $208,286 (+6.3%) from 2014

Net Income

Up

$1,318,932

Up $324,344 (+33%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$60M$40M$20M$0Assets 2011: $27,210,501Liabilities 2011: $13,861,182Net Assets 2011: $13,349,3192011Assets 2012: $26,209,701Liabilities 2012: $12,237,953Net Assets 2012: $13,971,7482012Assets 2013: $26,499,913Liabilities 2013: $11,644,119Net Assets 2013: $14,855,7942013Assets 2014: $26,889,874Liabilities 2014: $11,034,092Net Assets 2014: $15,855,7822014Assets 2015: $30,369,145Liabilities 2015: $13,189,231Net Assets 2015: $17,179,9142015Assets 2016: $30,368,636Liabilities 2016: $11,777,998Net Assets 2016: $18,590,6382016Assets 2017: $33,622,632Liabilities 2017: $13,764,309Net Assets 2017: $19,858,3232017Assets 2018: $38,593,906Liabilities 2018: $17,491,679Net Assets 2018: $21,102,2272018Assets 2019: $37,917,270Liabilities 2019: $16,006,377Net Assets 2019: $21,910,8932019Assets 2020: $37,621,946Liabilities 2020: $14,804,549Net Assets 2020: $22,817,3972020Assets 2021: $39,679,016Liabilities 2021: $15,863,942Net Assets 2021: $23,815,0742021Assets 2022: $45,233,451Liabilities 2022: $20,307,944Net Assets 2022: $24,925,5072022Assets 2023: $49,684,942Liabilities 2023: $23,028,297Net Assets 2023: $26,656,6452023

Highlighted filing

2015

Assets$30,369,145
Liabilities$13,189,231
Net Assets$17,179,914
Open 2015 Filing

Operations Trend

Revenue Growth96th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2011: $3,601,068Expenses 2011: $2,858,318Net Income 2011: $742,7502011Revenue 2012: $3,800,998Expenses 2012: $3,188,169Net Income 2012: $612,8292012Revenue 2013: $4,099,261Expenses 2013: $3,219,815Net Income 2013: $879,4462013Revenue 2014: $4,315,002Expenses 2014: $3,320,414Net Income 2014: $994,5882014Revenue 2015: $4,847,632Expenses 2015: $3,528,700Net Income 2015: $1,318,9322015Revenue 2016: $4,905,501Expenses 2016: $3,500,677Net Income 2016: $1,404,8242016Revenue 2017: $5,004,254Expenses 2017: $3,741,669Net Income 2017: $1,262,5852017Revenue 2018: $5,371,463Expenses 2018: $4,132,059Net Income 2018: $1,239,4042018Revenue 2019: $5,083,345Expenses 2019: $4,279,079Net Income 2019: $804,2662019Revenue 2020: $5,537,898Expenses 2020: $4,635,694Net Income 2020: $902,2042020Revenue 2021: $5,924,225Expenses 2021: $4,930,248Net Income 2021: $993,9772021Revenue 2022: $5,992,803Expenses 2022: $4,887,070Net Income 2022: $1,105,7332022Revenue 2023: $6,646,797Expenses 2023: $4,945,159Net Income 2023: $1,701,6382023

Highlighted filing

2015

Revenue$4,847,632
Expenses$3,528,700
Net Income$1,318,932
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Feb 15, 2016
Return Version
2015v2.1
Gross Receipts
$4,848,792
Mission and Program Overview

Mission

Water distribution to rural customers and local communities

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,582,790$26,858,220▲ $4,275,430
Pd in Cap Srpls Land Bldg Eqp Fund$9,553,037$9,555,437▲ $2,400
Rtn Earn Endowment Incm Other Fnds$5,399,856$6,721,588▲ $1,321,732
Savings and Temporary Cash Investments$2,000,000$1,600,000▼ $400,000
Cap Stk Tr Prin Current Funds$902,889$902,889→ $0
Cash and Non-Interest-Bearing Accounts$899,657$438,978▼ $460,679
Accounts Receivable$362,540$370,816▲ $8,276
Inventories for Sale or Use$317,953$339,032▲ $21,079
Prepaid Expenses and Deferred Charges$42,741$51,633▲ $8,892
Total Assets$26,889,874$30,369,145▲ $3,479,271
Other Assets Total$684,193$710,466▲ $26,273
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,792,543$11,879,003▲ $2,086,460
Deferred Revenue$963,305$880,400▼ $82,905
Accounts Payable and Accrued Expenses$278,244$429,828▲ $151,584
Total Liabilities$11,034,092$13,189,231▲ $2,155,139
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,855,782$17,179,914▲ $1,324,132
Total Liabilities and Net Assets / Fund Balance$26,889,874$30,369,145▲ $3,479,271

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$26,099,667$21,510,539$47,610,206
Land$758,553-$758,553
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleBaseTotal
Pat GillespieDirector$1,400$1,400
Steven BoerhavePresident$1,400$1,400
Adam EbelDirector$1,300$1,300
Philip WoodallSecretary$1,300$1,300
Doug FischerDirector$1,200$1,200
Brian GoodellVice Preside$1,100$1,100
David KeeneDirector$900$900
Nicholas ElserDirector$900$900
Keith ZylstraDirector$300$300
Revenue and Support

Revenue Composition

Contributions and Grants
$48,000
Program Service Revenue
$4,435,373
Investment Income
$25,793
Other Revenue
$338,466
Change in Net Assets
$1,318,932

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,722,281
Revenue Not Reported on Financial Statements
$125,351
Other Revenue Adjustments
$125,351
Total Revenue per Audited Statements
$4,722,281
Total Revenue per Form 990
$4,847,632
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,983,962
Salaries, Compensation, and Employee Benefits$544,738
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,175,355
Other Salaries and Wages---$490,096
Interest---$224,999
All Other Expenses---$147,566
Insurance---$133,802
Other Expenses---$120,717
Office Expenses---$42,965
Payroll Taxes---$36,212
Conferences and Meetings---$18,145
Fees for Services Other---$15,667
Fees for Services Accounting---$15,435
Pension Plan Contributions---$14,451
Advertising---$13,599
Fees for Services Legal---$6,025
Other Employee Benefits---$3,979
Total Functional Expenses$0$0$0$3,528,700

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,528,700
Expenses per Audited Statements$3,403,349
Total Expenses per Audited Statements$3,403,349
Expenses Not Reported on Financial Statements$125,351
Other Expense Adjustments$125,351
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
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, Page 6, Part VI, Line 11B

“At a monthly meeting, board members reviewed the form 990 before it was filed.”

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

“Board approves salary increases annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request at 2270 walnut avenue, may city, iowa.”

Filing and Contact Details

Filer

Filer Name
Osceola County Rural Water System
EIN
42-1068607
Phone
7127356795
Address
2270 WALNUT AVENUE, MAY CITY, IA 51354

Signing Officer

Name
Pat Gillespie
Title
Director
Phone
7127356795
Signed
2016-02-15

Organization Details

Principal Officer
Pat Gillespie
Formed
1982
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
15

Preparer

Firm
Burkhardt & Dawson Cpas
Address
793 NORTH SECOND STREET, CHEROKEE, IA 51012
Preparer
Laura M Dawson CPA
Phone
7122255755
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To distribute water to rural customers”

Form 990, Part XI, Line 9

“Membership fees 5,200 total 5,200”

Financial Statement Notes

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

“WATER PURCHASES 125,351”

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

“WATER PURCHASES 125,351”

Raw XML Appendix360 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/ProgramServiceRevenueGrp/TotalRevenueColumnAmt125855
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25200
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO DISTRIBUTE WATER TO RURAL CUSTOMERS
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt033829
IRS990/PYOtherExpensesAmt02794442
IRS990/PYOtherRevenueAmt0312767
IRS990/PYProgramServiceRevenueAmt03968406
IRS990/PYRevenuesLessExpensesAmt0994588
IRS990/PYSalariesCompEmpBnftPaidAmt0525972
IRS990/PYTotalExpensesAmt03320414
IRS990/PYTotalRevenueAmt04315002
IRS990/ReconcilationRevenueExpnssAmt01318932
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05399856
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06721588
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02000000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01600000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0125351
IRS990ScheduleD/ExpensesSubtotalAmt03403349
IRS990ScheduleD/LandGrp/BookValueAmt0758553
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0758553
IRS990ScheduleD/OtherExpensesNotIncludedAmt0125351
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026099667
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021510539
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt047610206
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0125351
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0125351
IRS990ScheduleD/RevenueSubtotalAmt04722281
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WATER PURCHASES 125,351
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1WATER PURCHASES 125,351
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt026858220
IRS990ScheduleD/TotalExpensesPerForm990Amt03528700
IRS990ScheduleD/TotalRevenuePerForm990Amt04847632
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04722281
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03403349
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO DISTRIBUTE WATER TO RURAL CUSTOMERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT A MONTHLY MEETING, BOARD MEMBERS REVIEWED THE FORM 990 BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD APPROVES SALARY INCREASES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT 2270 WALNUT AVENUE, MAY CITY, IOWA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEMBERSHIP FEES 5,200 TOTAL 5,200
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt026889874
IRS990/TotalAssetsEOYAmt030369145
IRS990/TotalAssetsGrp/BOYAmt026889874
IRS990/TotalAssetsGrp/EOYAmt030369145
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt048000
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03528700
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011034092
IRS990/TotalLiabilitiesEOYAmt013189231
IRS990/TotalLiabilitiesGrp/BOYAmt011034092
IRS990/TotalLiabilitiesGrp/EOYAmt013189231
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt015855782
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt017179914
IRS990/TotalProgramServiceRevenueAmt04435373
IRS990/TotalReportableCompFromOrgAmt09800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04799632
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04847632
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt026889874
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt030369145
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01180 135TH AVE
IRS990/USAddress/CityNm0LAKE PARK
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd0513477054
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAT GILLESPIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07127356795
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OSCEOLA COUNTY RURAL WATER SYSTEM
ReturnHeader/Filer/BusinessNameControlTxt0OSCE
ReturnHeader/Filer/EIN0421068607
ReturnHeader/Filer/PhoneNum07127356795
ReturnHeader/Filer/USAddress/AddressLine1Txt02270 WALNUT AVENUE
ReturnHeader/Filer/USAddress/CityNm0MAY CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051354
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201892306
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURKHARDT & DAWSON CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0793 NORTH SECOND STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHEROKEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051012
ReturnHeader/PreparerPersonGrp/PhoneNum07122255755
ReturnHeader/PreparerPersonGrp/PreparationDt02016-02-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA M DAWSON CPA
ReturnHeader/ReturnTs02016-02-19T09:38:17-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,369,145
Liabilities
$13,189,231
Net assets
$17,179,914
Revenue
$4,847,632
Expenses
$3,528,700
Net income
$1,318,932
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$49.7$23.0$26.7$6.65$4.95$1.70
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$20.3$24.9$5.99$4.89$1.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.7$15.9$23.8$5.92$4.93$0.99
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.6$14.8$22.8$5.54$4.64$0.90
2019Summary only. Only limited summary data is available for this year.$37.9$16.0$21.9$5.08$4.28$0.80
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.6$17.5$21.1$5.37$4.13$1.24
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.6$13.8$19.9$5.00$3.74$1.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.4$11.8$18.6$4.91$3.50$1.40
2015Detailed filing. Detailed filing data is available for this year.$30.4$13.2$17.2$4.85$3.53$1.32
2014Detailed filing. Detailed filing data is available for this year.$26.9$11.0$15.9$4.32$3.32$0.99
2013Detailed filing. Detailed filing data is available for this year.$26.5$11.6$14.9$4.10$3.22$0.88
2012Summary only. Only limited summary data is available for this year.$26.2$12.2$14.0$3.80$3.19$0.61
2011Summary only. Only limited summary data is available for this year.$27.2$13.9$13.3$3.60$2.86$0.74