Civic Intelligence

Regional Water

990 • Fiscal year 2022 • EIN 42-1089032

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 20, 2023

Organization Profile

View Organization Page

108 Hwy 59Avoca, IA 51521

(712) 343-2413

Siviq Scores

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

Liabilities / Assets

84th percentile

0.57x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

90th percentile

4.05x

Higher debt load relative to revenue than 90% of similar nonprofits.

2022 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2022

Net Margin

15th percentile

-2.8%

Higher net margin than 15% of similar nonprofits.

2022 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

28th percentile

$0

Higher top officer pay than 28% of similar nonprofits.

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

2022 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2022

Asset Growth

22nd percentile

-1.3%

Faster asset growth than 22% of similar nonprofits.

2022 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

8th percentile

-11%

Faster revenue growth than 8% of similar nonprofits.

2022 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$23,976,978

Down $322,080 (-1.3%) from 2021

Net Assets

Down

$10,420,611

Down $94,118 (-0.9%) from 2021

Liabilities

Down

$13,556,367

Down $227,962 (-1.7%) from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin15th percentile

Revenue

Down

$3,344,589

Down $409,119 (-11%) from 2021

Expenses

Up

$3,438,707

Up $400,119 (+13%) from 2021

Net Income

Down

-$94,118

Down $809,238 (-113%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$40M$30M$20M$10M$0Assets 2010: $26,164,989Liabilities 2010: $15,859,948Net Assets 2010: $10,305,0412010Assets 2011: $25,584,249Liabilities 2011: $15,554,654Net Assets 2011: $10,029,5952011Assets 2012: $25,411,283Liabilities 2012: $15,354,311Net Assets 2012: $10,056,9722012Assets 2013: $25,240,996Liabilities 2013: $15,155,484Net Assets 2013: $10,085,5122013Assets 2014: $24,750,724Liabilities 2014: $14,791,298Net Assets 2014: $9,959,4262014Assets 2015: $24,382,419Liabilities 2015: $14,502,848Net Assets 2015: $9,879,5712015Assets 2016: $24,830,674Liabilities 2016: $15,023,421Net Assets 2016: $9,807,2532016Assets 2017: $24,619,292Liabilities 2017: $14,869,249Net Assets 2017: $9,750,0432017Assets 2018: $23,806,476Liabilities 2018: $14,284,814Net Assets 2018: $9,521,6622018Assets 2019: $23,442,178Liabilities 2019: $13,996,280Net Assets 2019: $9,445,8982019Assets 2020: $23,431,566Liabilities 2020: $13,631,957Net Assets 2020: $9,799,6092020Assets 2021: $24,299,058Liabilities 2021: $13,784,329Net Assets 2021: $10,514,7292021Assets 2022: $23,976,978Liabilities 2022: $13,556,367Net Assets 2022: $10,420,6112022Assets 2023: $25,527,699Liabilities 2023: $13,616,720Net Assets 2023: $11,910,9792023Assets 2024: $34,439,685Liabilities 2024: $21,945,925Net Assets 2024: $12,493,7602024

Highlighted filing

2022

Assets$23,976,978
Liabilities$13,556,367
Net Assets$10,420,611
Open 2022 Filing

Operations Trend

Revenue Growth8th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,365,1842010Expenses 2011: $2,393,9822011Expenses 2012: $2,372,1252012Revenue 2013: $2,429,708Expenses 2013: $2,401,168Net Income 2013: $28,5402013Revenue 2014: $2,321,276Expenses 2014: $2,447,362Net Income 2014: -$126,0862014Revenue 2015: $2,401,602Expenses 2015: $2,481,457Net Income 2015: -$79,8552015Revenue 2016: $2,485,518Expenses 2016: $2,557,836Net Income 2016: -$72,3182016Revenue 2017: $2,516,631Expenses 2017: $2,573,841Net Income 2017: -$57,2102017Revenue 2018: $2,495,392Expenses 2018: $2,723,773Net Income 2018: -$228,3812018Revenue 2019: $2,816,809Expenses 2019: $2,892,573Net Income 2019: -$75,7642019Revenue 2020: $3,146,165Expenses 2020: $2,792,454Net Income 2020: $353,7112020Revenue 2021: $3,753,708Expenses 2021: $3,038,588Net Income 2021: $715,1202021Revenue 2022: $3,344,589Expenses 2022: $3,438,707Net Income 2022: -$94,1182022Revenue 2023: $4,836,321Expenses 2023: $3,345,953Net Income 2023: $1,490,3682023Revenue 2024: $4,188,697Expenses 2024: $3,605,916Net Income 2024: $582,7812024

Highlighted filing

2022

Revenue$3,344,589
Expenses$3,438,707
Net Income-$94,118
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 20, 2023
Return Version
2022v5.0
Gross Receipts
$3,378,098
Mission and Program Overview

Mission

RURAL WATER SERVICE

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,352,833$21,787,018▲ $434,185
Cash and Non-Interest-Bearing Accounts$1,921,339$724,009▼ $1,197,330
Investments Other Securities$594,462$636,306▲ $41,844
Inventories for Sale or Use$127,160$556,467▲ $429,307
Accounts Receivable$224,949$243,368▲ $18,419
Pledges and Grants Receivable$67,772--
Prepaid Expenses and Deferred Charges$10,543$29,810▲ $19,267
Total Assets$24,299,058$23,976,978▼ $322,080
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,067,104$12,633,042▼ $434,062
Accounts Payable and Accrued Expenses$417,225$371,325▼ $45,900
Other Liabilities$300,000$300,000→ $0
Deferred Revenue-$252,000-
Total Liabilities$13,784,329$13,556,367▼ $227,962
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,514,729$10,420,611▼ $94,118
Total Net Assets Fund Balance$10,514,729$10,420,611▼ $94,118
Total Liabilities and Net Assets / Fund Balance$24,299,058$23,976,978▼ $322,080

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$19,984,023$16,142,002$36,126,025
Equipment$231,732$726,358$958,090
Land$852,327-$852,327
Compensation and Service Providers
Top Officer Pay28th percentile

Board Members and Trustees

NameTitle
Larry KleinPresident
Roger SorensenMember
Richard LeeSecretary
Jeff WaltonTreasurer
Charles StolzVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,156,481
Investment Income
$137,263
Other Revenue
$50,845
Change in Net Assets
$-94,118

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,344,589
Total Revenue per Audited Statements
$3,344,589
Total Revenue per Form 990
$3,344,589
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,507,272
Salaries, Compensation, and Employee Benefits$931,435
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$725,185--$725,185
Other Salaries and Wages$519,955$174,465-$694,420
Interest$541,573--$541,573
Occupancy$219,745$12,943-$232,688
All Other Expenses$51,589$109,041-$160,630
Other Employee Benefits$139,400$7,603-$147,003
Other Expenses$38,375$21,963-$60,338
Payroll Taxes$39,109$12,844-$51,953
Insurance$643$47,139-$47,782
Pension Plan Contributions$31,746$6,313-$38,059
Fees for Services Legal-$35,491-$35,491
Office Expenses$1,372$5,247-$6,619
Travel-$14-$14
Total Functional Expenses$2,967,100$471,607$0$3,438,707

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,438,707
Total Expenses per Audited Statements$3,438,707
Total Expenses per Form 990$3,438,707
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Forgiveable Loan$300,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7B

“Decisions to expand operations, major purchases and borrow money are subject to board approval”

Form 990, Page 6, Part VI, Line 11B

“Board reviews return at meeting audit is presented”

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

“Compared to others in like position”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and policies are made available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Regional Water
EIN
42-1089032
Address
108 HWY 59, AVOCA, IA 51521

Signing Officer

Name
Larry Klein
Title
President
Signed
2023-06-20

Organization Details

Principal Officer
Larry Klein
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
18

Preparer

Firm
Schroer & Associates Pc
Address
42 N 2ND ST, COUNCIL BLUFFS, IA 51503-9027
Preparer
Diane C Mcgrain
Phone
7123228734
Raw XML Appendix349 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/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt036126025
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0300000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FORGIVEABLE LOAN
IRS990ScheduleD/RevenueSubtotalAmt03344589
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021068082
IRS990ScheduleD/TotalExpensesPerForm990Amt03438707
IRS990ScheduleD/TotalLiabilityAmt0300000
IRS990ScheduleD/TotalRevenuePerForm990Amt03344589
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03344589
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03438707
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DECISIONS TO EXPAND OPERATIONS, MAJOR PURCHASES AND BORROW MONEY ARE SUBJECT TO BOARD APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD REVIEWS RETURN AT MEETING AUDIT IS PRESENTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPARED TO OTHERS IN LIKE POSITION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt024299058
IRS990/TotalAssetsEOYAmt023976978
IRS990/TotalAssetsGrp/BOYAmt024299058
IRS990/TotalAssetsGrp/EOYAmt023976978
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt018
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0471607
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02967100
IRS990/TotalFunctionalExpensesGrp/TotalAmt03438707
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013784329
IRS990/TotalLiabilitiesEOYAmt013556367
IRS990/TotalLiabilitiesGrp/BOYAmt013784329
IRS990/TotalLiabilitiesGrp/EOYAmt013556367
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010514729
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010420611
IRS990/TotalProgramServiceExpensesAmt02967100
IRS990/TotalProgramServiceRevenueAmt03156481
IRS990/TotalRevenueGrp/ExclusionAmt0179970
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03164619
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03344589
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024299058
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023976978
IRS990/TravelGrp/ManagementAndGeneralAmt014
IRS990/TravelGrp/TotalAmt014
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0108 HWY 59
IRS990/USAddress/CityNm0AVOCA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051521
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LARRY KLEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REGIONAL WATER
ReturnHeader/Filer/BusinessNameControlTxt0REGI
ReturnHeader/Filer/EIN0421089032
ReturnHeader/Filer/USAddress/AddressLine1Txt0108 HWY 59
ReturnHeader/Filer/USAddress/CityNm0AVOCA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051521
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421459710
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHROER & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt042 N 2ND ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COUNCIL BLUFFS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0515039027
ReturnHeader/PreparerPersonGrp/PhoneNum07123228734
ReturnHeader/PreparerPersonGrp/PreparationDt02023-06-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIANE C MCGRAIN
ReturnHeader/ReturnTs02023-06-20T17:47:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEVE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BARRATT
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,976,978
Liabilities
$13,556,367
Net assets
$10,420,611
Revenue
$3,344,589
Expenses
$3,438,707
Net income
-$94,118
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$34.4$21.9$12.5$4.19$3.61$0.58
2023Detailed filing. Detailed filing data is available for this year.$25.5$13.6$11.9$4.84$3.35$1.49
2022Detailed filing. Detailed filing data is available for this year.$24.0$13.6$10.4$3.34$3.44$0.09
2021Detailed filing. Detailed filing data is available for this year.$24.3$13.8$10.5$3.75$3.04$0.72
2020Detailed filing. Detailed filing data is available for this year.$23.4$13.6$9.80$3.15$2.79$0.35
2019Detailed filing. Detailed filing data is available for this year.$23.4$14.0$9.45$2.82$2.89$0.08
2018Detailed filing. Detailed filing data is available for this year.$23.8$14.3$9.52$2.50$2.72$0.23
2017Detailed filing. Detailed filing data is available for this year.$24.6$14.9$9.75$2.52$2.57$0.06
2016Detailed filing. Detailed filing data is available for this year.$24.8$15.0$9.81$2.49$2.56$0.07
2015Detailed filing. Detailed filing data is available for this year.$24.4$14.5$9.88$2.40$2.48$0.08
2014Detailed filing. Detailed filing data is available for this year.$24.8$14.8$9.96$2.32$2.45$0.13
2013Detailed filing. Detailed filing data is available for this year.$25.2$15.2$10.1$2.43$2.40$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.4$15.4$10.1$2.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.6$15.6$10.0$2.39
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.2$15.9$10.3$2.37