Civic Intelligence

Osceola County Rural Water System

990 • Fiscal year 2018 • EIN 42-1068607

Jan 01, 2018 to Dec 31, 2018 • Filed on Feb 09, 2019

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

36th percentile

0.45x

Higher debt load relative to assets than 36% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

87th percentile

3.26x

Higher debt load relative to revenue than 87% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Net Margin

96th percentile

23%

Higher net margin than 96% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

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.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Asset Growth

94th percentile

15%

Faster asset growth than 94% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

65th percentile

7.3%

Faster revenue growth than 65% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Up

$38,593,906

Up $4,971,274 (+15%) from 2017

Net Assets

Up

$21,102,227

Up $1,243,904 (+6.3%) from 2017

Liabilities

Up

$17,491,679

Up $3,727,370 (+27%) from 2017

Revenue

Up

$5,371,463

Up $367,209 (+7.3%) from 2017

Expenses

Up

$4,132,059

Up $390,390 (+10%) from 2017

Net Income

Down

$1,239,404

Down $23,181 (-1.8%) from 2017

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

2018

Assets$38,593,906
Liabilities$17,491,679
Net Assets$21,102,227

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

2018

Revenue$5,371,463
Expenses$4,132,059
Net Income$1,239,404
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Feb 9, 2019
Return Version
2018v3.1
Gross Receipts
$5,371,463
Mission and Program Overview

Mission

Water distribution to rural customers and local communities

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$30,241,550$35,031,832▲ $4,790,282
Rtn Earn Endowment Incm Other Fnds$9,386,497$10,625,601▲ $1,239,104
Pd in Cap Srpls Land Bldg Eqp Fund$9,563,062$9,565,762▲ $2,700
Savings and Temporary Cash Investments$1,400,000$1,523,987▲ $123,987
Cap Stk Tr Prin Current Funds$908,764$910,864▲ $2,100
Accounts Receivable$368,546$428,156▲ $59,610
Inventories for Sale or Use$403,142$371,979▼ $31,163
Cash and Non-Interest-Bearing Accounts$181,337$248,760▲ $67,423
Prepaid Expenses and Deferred Charges$32,047$72,838▲ $40,791
Total Assets$33,622,632$38,593,906▲ $4,971,274
Other Assets Total$996,010$916,354▼ $79,656
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,626,369$16,158,355▲ $3,531,986
Accounts Payable and Accrued Expenses$423,352$701,642▲ $278,290
Deferred Revenue$714,588$631,682▼ $82,906
Total Liabilities$13,764,309$17,491,679▲ $3,727,370
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,858,323$21,102,227▲ $1,243,904
Total Liabilities and Net Assets / Fund Balance$33,622,632$38,593,906▲ $4,971,274

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$34,272,972$24,315,366$58,588,338
Land$758,860-$758,860
Compensation and Service Providers

Employees

NameTitleBaseTotal
Philip WoodallVice Preside$1,300$1,300
David KeeneDirector$1,250$1,250
Dillon GriebelDirector$1,150$1,150
Doug FischerDirector$1,150$1,150
Adam EbelSecretary$1,100$1,100
Pat GillespieTreasurer$950$950
Nicholas ElserDirector$850$850
Steven BoerhavePresident$850$850
Jeremy Van EssDirector$250$250
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,937,871
Investment Income
$32,460
Other Revenue
$401,132
Change in Net Assets
$1,239,404

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,266,634
Revenue Not Reported on Financial Statements
$104,829
Other Revenue Adjustments
$104,829
Total Revenue per Audited Statements
$5,266,634
Total Revenue per Form 990
$5,371,463
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,454,388
Salaries, Compensation, and Employee Benefits$677,671
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,327,631
Other Salaries and Wages---$489,009
Interest---$345,393
All Other Expenses---$269,084
Insurance---$219,089
Current Officers, Directors, Trustees, and Key Employees---$118,939
Other Expenses---$93,198
Office Expenses---$53,705
Payroll Taxes---$47,223
Fees for Services Other---$40,329
Fees for Services Accounting---$19,075
Conferences and Meetings---$18,713
Pension Plan Contributions---$16,814
Fees for Services Legal---$15,980
Advertising---$13,315
Other Employee Benefits---$5,686
Total Functional Expenses$0$0$0$4,132,059

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,132,059
Expenses per Audited Statements$4,027,230
Total Expenses per Audited Statements$4,027,230
Expenses Not Reported on Financial Statements$104,829
Other Expense Adjustments$104,829
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
2019-02-09

Organization Details

Principal Officer
Pat Gillespie
Formed
1982
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
13

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 4,500

Financial Statement Notes

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

Other water purchases 104,829

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

Other water purchases 104,829

Raw XML Appendix372 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/TotalRevenueColumnAmt34500
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO DISTRIBUTE WATER TO RURAL CUSTOMERS
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt023537
IRS990/PYOtherExpensesAmt03145285
IRS990/PYOtherRevenueAmt0411885
IRS990/PYProgramServiceRevenueAmt04568832
IRS990/PYRevenuesLessExpensesAmt01262585
IRS990/PYSalariesCompEmpBnftPaidAmt0596384
IRS990/PYTotalExpensesAmt03741669
IRS990/PYTotalRevenueAmt05004254
IRS990/ReconcilationRevenueExpnssAmt01239404
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt09386497
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt010625601
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01400000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01523987
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0104829
IRS990ScheduleD/ExpensesSubtotalAmt04027230
IRS990ScheduleD/LandGrp/BookValueAmt0758860
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0758860
IRS990ScheduleD/OtherExpensesNotIncludedAmt0104829
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt034272972
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt024315366
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt058588338
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0104829
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0104829
IRS990ScheduleD/RevenueSubtotalAmt05266634
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OTHER WATER PURCHASES 104,829
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1OTHER WATER PURCHASES 104,829
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt035031832
IRS990ScheduleD/TotalExpensesPerForm990Amt04132059
IRS990ScheduleD/TotalRevenuePerForm990Amt05371463
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05266634
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04027230
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 4,500
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt033622632
IRS990/TotalAssetsEOYAmt038593906
IRS990/TotalAssetsGrp/BOYAmt033622632
IRS990/TotalAssetsGrp/EOYAmt038593906
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04132059
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013764309
IRS990/TotalLiabilitiesEOYAmt017491679
IRS990/TotalLiabilitiesGrp/BOYAmt013764309
IRS990/TotalLiabilitiesGrp/EOYAmt017491679
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019858323
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt021102227
IRS990/TotalProgramServiceRevenueAmt04937871
IRS990/TotalReportableCompFromOrgAmt08850
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05371463
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05371463
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt033622632
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt038593906
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAT GILLESPIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07127356795
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-09
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/AtSubmissionFilingDeviceId07B6F73E6CAE739A5AE962969B3ED410AF9486ABC
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.215.11.9
ReturnHeader/FilingSecurityInformation/IPDt02019-03-01
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:27:46
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/PreparationDt02019-02-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA M DAWSON CPA
ReturnHeader/ReturnTs02019-03-01T08:27:46-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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
2018Detailed filing. Detailed filing data is available for this year.$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
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