Civic Intelligence

Osceola County Rural Water System

990 • Fiscal year 2016 • EIN 42-1068607

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 11, 2017

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

25th percentile

0.39x

Higher debt load relative to assets than 25% of similar nonprofits.

2016 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

80th percentile

2.40x

Higher debt load relative to revenue than 80% of similar nonprofits.

2016 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2016

Net Margin

99th percentile

29%

Higher net margin than 99% of similar nonprofits.

2016 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

8th percentile

$1,300

Higher top officer pay than 8% of similar nonprofits.

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

2016 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2016

Asset Growth

25th percentile

-0.0%

Faster asset growth than 25% of similar nonprofits.

2016 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

40th percentile

1.2%

Faster revenue growth than 40% of similar nonprofits.

2016 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Down

$30,368,636

Down $509 (-0.0%) from 2015

Net Assets

Up

$18,590,638

Up $1,410,724 (+8.2%) from 2015

Liabilities

Down

$11,777,998

Down $1,411,233 (-11%) from 2015

Revenue

Up

$4,905,501

Up $57,869 (+1.2%) from 2015

Expenses

Down

$3,500,677

Down $28,023 (-0.8%) from 2015

Net Income

Up

$1,404,824

Up $85,892 (+6.5%) from 2015

Historical Trend

Balance Sheet Trend

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

2016

Assets$30,368,636
Liabilities$11,777,998
Net Assets$18,590,638

Operations Trend

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

2016

Revenue$4,905,501
Expenses$3,500,677
Net Income$1,404,824
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 11, 2017
Return Version
2016v3.0
Gross Receipts
$4,905,501
Mission and Program Overview

Mission

Water distribution to rural customers and local communities

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,858,220$26,773,232▼ $84,988
Pd in Cap Srpls Land Bldg Eqp Fund$9,555,437$9,561,037▲ $5,600
Rtn Earn Endowment Incm Other Fnds$6,721,588$8,123,612▲ $1,402,024
Savings and Temporary Cash Investments$1,600,000$1,500,000▼ $100,000
Cap Stk Tr Prin Current Funds$902,889$905,989▲ $3,100
Cash and Non-Interest-Bearing Accounts$438,978$529,788▲ $90,810
Accounts Receivable$370,816$449,040▲ $78,224
Inventories for Sale or Use$339,032$307,958▼ $31,074
Prepaid Expenses and Deferred Charges$51,633$61,314▲ $9,681
Total Assets$30,369,145$30,368,636▼ $509
Other Assets Total$710,466$747,304▲ $36,838
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,879,003$10,675,579▼ $1,203,424
Deferred Revenue$880,400$797,494▼ $82,906
Accounts Payable and Accrued Expenses$429,828$304,925▼ $124,903
Total Liabilities$13,189,231$11,777,998▼ $1,411,233
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,179,914$18,590,638▲ $1,410,724
Total Liabilities and Net Assets / Fund Balance$30,369,145$30,368,636▼ $509

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$26,014,371$22,691,563$48,705,934
Land$758,861-$758,861
Compensation and Service Providers

Employees

NameTitleBaseTotal
Doug FischerDirector$1,300$1,300
Pat GillespieTreasurer$1,300$1,300
Philip WoodallSecretary$1,100$1,100
Adam EbelDirector$1,000$1,000
Steven BoerhavePresident$1,000$1,000
David KeeneDirector$800$800
Nicholas ElserDirector$700$700
Brian GoodellVice Preside$400$400
Keith ZylstraDirector$300$300
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,521,263
Investment Income
$23,294
Other Revenue
$360,944
Change in Net Assets
$1,404,824

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,787,213
Revenue Not Reported on Financial Statements
$118,288
Revenue Not Reported on Form 990
$-52
Other Revenue Adjustments
$118,288
Total Revenue per Audited Statements
$4,787,161
Total Revenue per Form 990
$4,905,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,940,166
Salaries, Compensation, and Employee Benefits$560,511
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,295,112
Other Salaries and Wages---$391,058
Interest---$303,849
Insurance---$147,184
All Other Expenses---$132,707
Current Officers, Directors, Trustees, and Key Employees---$109,711
Other Expenses---$100,361
Office Expenses---$48,363
Payroll Taxes---$36,638
Fees for Services Other---$34,830
Conferences and Meetings---$18,827
Pension Plan Contributions---$17,429
Advertising---$13,919
Fees for Services Accounting---$11,305
Fees for Services Legal---$8,323
Other Employee Benefits---$5,675
Total Functional Expenses$0$0$0$3,500,677

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,500,677
Expenses per Audited Statements$3,382,389
Total Expenses per Audited Statements$3,382,337
Expenses Not Reported on Financial Statements$118,288
Other Expense Adjustments$118,288
Expenses Not Reported on Form 990$-52
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
Treasurer
Phone
7127356795
Signed
2017-02-11

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 5,900

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Loss on junked assets -52

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

WATER PURCHASES 118,288

Schedule D, Page 4, Part XII, Line 2D

Loss on junked assets -52

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

WATER PURCHASES 118,288

Raw XML Appendix370 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/TotalRevenueColumnAmt149790
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25900
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO DISTRIBUTE WATER TO RURAL CUSTOMERS
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt048000
IRS990/PYInvestmentIncomeAmt025793
IRS990/PYOtherExpensesAmt02983962
IRS990/PYOtherRevenueAmt0338466
IRS990/PYProgramServiceRevenueAmt04435373
IRS990/PYRevenuesLessExpensesAmt01318932
IRS990/PYSalariesCompEmpBnftPaidAmt0544738
IRS990/PYTotalExpensesAmt03528700
IRS990/PYTotalRevenueAmt04847632
IRS990/ReconcilationRevenueExpnssAmt01404824
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt06721588
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt08123612
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01600000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01500000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotReportedAmt0-52
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0118288
IRS990ScheduleD/ExpensesSubtotalAmt03382389
IRS990ScheduleD/LandGrp/BookValueAmt0758861
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0758861
IRS990ScheduleD/OtherExpensesIncludedAmt0-52
IRS990ScheduleD/OtherExpensesNotIncludedAmt0118288
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026014371
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt022691563
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048705934
IRS990ScheduleD/OtherRevenueAmt0-52
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0118288
IRS990ScheduleD/RevenueNotReportedAmt0-52
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0118288
IRS990ScheduleD/RevenueSubtotalAmt04787213
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON JUNKED ASSETS -52
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1WATER PURCHASES 118,288
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOSS ON JUNKED ASSETS -52
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3WATER PURCHASES 118,288
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt026773232
IRS990ScheduleD/TotalExpensesPerForm990Amt03500677
IRS990ScheduleD/TotalRevenuePerForm990Amt04905501
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04787161
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03382337
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 5,900
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/TotalAssetsBOYAmt030369145
IRS990/TotalAssetsEOYAmt030368636
IRS990/TotalAssetsGrp/BOYAmt030369145
IRS990/TotalAssetsGrp/EOYAmt030368636
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt015
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03500677
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013189231
IRS990/TotalLiabilitiesEOYAmt011777998
IRS990/TotalLiabilitiesGrp/BOYAmt013189231
IRS990/TotalLiabilitiesGrp/EOYAmt011777998
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017179914
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018590638
IRS990/TotalProgramServiceRevenueAmt04521263
IRS990/TotalReportableCompFromOrgAmt07900
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04905501
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04905501
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt030369145
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt030368636
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/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAT GILLESPIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07127356795
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-11
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0185F4A1AEFBBF0FCFA10EBFDEEBF8C691D21A85D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CFA6D7962A64500373EE967074AE835CA5781CAC
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/PreparationDt02017-02-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA M DAWSON CPA
ReturnHeader/ReturnTs02017-03-21T19:20:49+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
2016Detailed filing. Detailed filing data is available for this year.$30.4$11.8$18.6$4.91$3.50$1.40
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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