Civic Intelligence

Osceola County Rural Water System

990 • Fiscal year 2020 • EIN 42-1068607

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 07, 2021

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

35th percentile

0.39x

Higher debt load relative to assets than 35% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

2.67x

Higher debt load relative to revenue than 85% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Net Margin

85th percentile

16%

Higher net margin than 85% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

6th percentile

$1,000

Higher top officer pay than 6% of similar nonprofits.

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

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Asset Growth

12th percentile

-0.8%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

83rd percentile

8.9%

Faster revenue growth than 83% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets35th percentile

Assets

Down

$37,621,946

Down $295,324 (-0.8%) from 2019

Net Assets

Up

$22,817,397

Up $906,504 (+4.1%) from 2019

Liabilities

Down

$14,804,549

Down $1,201,828 (-7.5%) from 2019

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin85th percentile

Revenue

Up

$5,537,898

Up $454,553 (+8.9%) from 2019

Expenses

Up

$4,635,694

Up $356,615 (+8.3%) from 2019

Net Income

Up

$902,204

Up $97,938 (+12%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2020

Assets$37,621,946
Liabilities$14,804,549
Net Assets$22,817,397
Open 2020 Filing

Operations Trend

Revenue Growth83rd 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

2020

Revenue$5,537,898
Expenses$4,635,694
Net Income$902,204
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 7, 2021
Return Version
2020v4.0
Gross Receipts
$5,537,898
Mission and Program Overview

Mission

Water distribution to rural customers and local communities

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$35,270,751$34,624,404▼ $646,347
Rtn Earn Endowment Incm Other Fnds$11,419,867$16,957,644▲ $5,537,777
Pd in Cap Srpls Land Bldg Eqp Fund$9,577,387$4,945,814▼ $4,631,573
Cap Stk Tr Prin Current Funds$913,639$913,939▲ $300
Savings and Temporary Cash Investments$825,083$695,834▼ $129,249
Cash and Non-Interest-Bearing Accounts$84,748$439,637▲ $354,889
Accounts Receivable$407,090$437,194▲ $30,104
Inventories for Sale or Use$298,001$347,059▲ $49,058
Prepaid Expenses and Deferred Charges$78,346$70,890▼ $7,456
Total Assets$37,917,270$37,621,946▼ $295,324
Other Assets Total$953,251$1,006,928▲ $53,677
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,720,993$13,812,723▼ $908,270
Deferred Revenue$837,809$725,003▼ $112,806
Accounts Payable and Accrued Expenses$447,575$266,823▼ $180,752
Total Liabilities$16,006,377$14,804,549▼ $1,201,828
Net Assets / Fund Balance
Total Net Assets Fund Balance$21,910,893$22,817,397▲ $906,504
Total Liabilities and Net Assets / Fund Balance$37,917,270$37,621,946▼ $295,324

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$33,762,422$26,906,814$60,669,236
Land$861,982-$861,982
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleBaseTotal
Dillon GriebelTreasurer$1,000$1,000
Steven AgarDirector$900$900
Doug FischerVice Preside$850$850
David KeeneDirector$750$750
Michael WagnerDirector$750$750
Pat GillespiePresident$750$750
Adam EbelSecretary$700$700
Jeremy Van EssDirector$700$700
Jacob JohnsonDirector$550$550
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,075,579
Investment Income
$28,541
Other Revenue
$433,778
Change in Net Assets
$902,204

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,489,713
Revenue Not Reported on Financial Statements
$48,185
Other Revenue Adjustments
$48,185
Total Revenue per Audited Statements
$5,489,713
Total Revenue per Form 990
$5,537,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,830,812
Salaries, Compensation, and Employee Benefits$804,882
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,627,893
Other Salaries and Wages---$587,077
Interest---$392,384
Insurance---$255,234
All Other Expenses---$148,546
Current Officers, Directors, Trustees, and Key Employees---$135,897
Office Expenses---$69,153
Other Expenses---$65,393
Fees for Services Other---$55,717
Payroll Taxes---$54,123
Fees for Services Legal---$29,560
Pension Plan Contributions---$21,967
Fees for Services Accounting---$17,975
Advertising---$12,408
Conferences and Meetings---$11,722
Other Employee Benefits---$5,818
Total Functional Expenses$0$0$0$4,635,694

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,635,694
Expenses per Audited Statements$4,587,509
Total Expenses per Audited Statements$4,587,509
Expenses Not Reported on Financial Statements$48,185
Other Expense Adjustments$48,185
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 35% controlled entity
No
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
President
Phone
7127356795
Signed
2021-03-07

Organization Details

Principal Officer
Pat Gillespie
Formed
1982
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
19

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 4,300”

Financial Statement Notes

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

“Other water purchases 48,185”

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

“Other water purchases 48,185”

Raw XML Appendix363 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/TotalRevenueColumnAmt153025
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24300
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO DISTRIBUTE WATER TO RURAL CUSTOMERS
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt029007
IRS990/PYOtherExpensesAmt03586083
IRS990/PYOtherRevenueAmt0370716
IRS990/PYProgramServiceRevenueAmt04683622
IRS990/PYRevenuesLessExpensesAmt0804266
IRS990/PYSalariesCompEmpBnftPaidAmt0692996
IRS990/PYTotalExpensesAmt04279079
IRS990/PYTotalRevenueAmt05083345
IRS990/ReconcilationRevenueExpnssAmt0902204
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt011419867
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt016957644
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0825083
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0695834
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt048185
IRS990ScheduleD/ExpensesSubtotalAmt04587509
IRS990ScheduleD/LandGrp/BookValueAmt0861982
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0861982
IRS990ScheduleD/OtherExpensesNotIncludedAmt048185
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt033762422
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt026906814
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt060669236
IRS990ScheduleD/OtherRevenuesNotIncludedAmt048185
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt048185
IRS990ScheduleD/RevenueSubtotalAmt05489713
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OTHER WATER PURCHASES 48,185
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1OTHER WATER PURCHASES 48,185
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt034624404
IRS990ScheduleD/TotalExpensesPerForm990Amt04635694
IRS990ScheduleD/TotalRevenuePerForm990Amt05537898
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05489713
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04587509
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 4,300
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt037917270
IRS990/TotalAssetsEOYAmt037621946
IRS990/TotalAssetsGrp/BOYAmt037917270
IRS990/TotalAssetsGrp/EOYAmt037621946
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt019
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04635694
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016006377
IRS990/TotalLiabilitiesEOYAmt014804549
IRS990/TotalLiabilitiesGrp/BOYAmt016006377
IRS990/TotalLiabilitiesGrp/EOYAmt014804549
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt021910893
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt022817397
IRS990/TotalProgramServiceRevenueAmt05075579
IRS990/TotalReportableCompFromOrgAmt06950
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05537898
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05537898
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt037917270
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt037621946
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAT GILLESPIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07127356795
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-07
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/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/PreparationDt02021-03-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA M DAWSON CPA
ReturnHeader/ReturnTs02021-04-19T09:03:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GILLESPIE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$37,621,946
Liabilities
$14,804,549
Net assets
$22,817,397
Revenue
$5,537,898
Expenses
$4,635,694
Net income
$902,204
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
2020Detailed filing. Detailed filing data is available for this year.$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
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