Civic Intelligence

Regional Water

990 • Fiscal year 2023 • EIN 42-1089032

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 16, 2024

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

60th percentile

0.53x

Higher debt load relative to assets than 60% of similar nonprofits.

2023 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

86th percentile

2.82x

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

2023 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2023

Net Margin

87th percentile

31%

Higher net margin than 87% of similar nonprofits.

2023 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

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

2023 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2023

Asset Growth

71st percentile

6.5%

Faster asset growth than 71% of similar nonprofits.

2023 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

45%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$25,527,699

Up $1,550,721 (+6.5%) from 2022

Net Assets

Up

$11,910,979

Up $1,490,368 (+14%) from 2022

Liabilities

Up

$13,616,720

Up $60,353 (+0.4%) from 2022

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin87th percentile

Revenue

Up

$4,836,321

Up $1,491,732 (+45%) from 2022

Expenses

Down

$3,345,953

Down $92,754 (-2.7%) from 2022

Net Income

Up

$1,490,368

Up $1,584,486 (+1684%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth71st 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

2023

Assets$25,527,699
Liabilities$13,616,720
Net Assets$11,910,979
Open 2023 Filing

Operations Trend

Revenue Growth98th 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

2023

Revenue$4,836,321
Expenses$3,345,953
Net Income$1,490,368
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 16, 2024
Return Version
2023v5.0
Gross Receipts
$4,836,321
Mission and Program Overview

Mission

RURAL WATER SERVICE

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,787,018$22,907,773▲ $1,120,755
Cash and Non-Interest-Bearing Accounts$724,009$1,044,288▲ $320,279
Investments Other Securities$636,306$700,705▲ $64,399
Inventories for Sale or Use$556,467$536,049▼ $20,418
Accounts Receivable$243,368$327,210▲ $83,842
Prepaid Expenses and Deferred Charges$29,810$11,674▼ $18,136
Total Assets$23,976,978$25,527,699▲ $1,550,721
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,633,042$12,740,116▲ $107,074
Accounts Payable and Accrued Expenses$371,325$324,604▼ $46,721
Other Liabilities$300,000$300,000→ $0
Deferred Revenue$252,000$252,000→ $0
Total Liabilities$13,556,367$13,616,720▲ $60,353
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,420,611$11,910,979▲ $1,490,368
Total Net Assets Fund Balance$10,420,611$11,910,979▲ $1,490,368
Total Liabilities and Net Assets / Fund Balance$23,976,978$25,527,699▲ $1,550,721

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$20,765,968$16,819,724$37,585,692
Equipment$175,552$782,538$958,090
Land$852,327-$852,327
Compensation and Service Providers
Top Officer Pay10th 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
$1,000,000
Program Service Revenue
$3,643,608
Investment Income
$135,368
Other Revenue
$57,345
Change in Net Assets
$1,490,368

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,836,321
Total Revenue per Audited Statements
$4,836,321
Total Revenue per Form 990
$4,836,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,322,860
Salaries, Compensation, and Employee Benefits$1,023,093
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$733,903--$733,903
Other Salaries and Wages$419,947$302,111-$722,058
Interest$531,437--$531,437
Occupancy$228,574$5,975-$234,549
Other Employee Benefits$128,838$75,645-$204,483
All Other Expenses$46,709$72,550-$119,259
Payroll Taxes$31,592$22,634-$54,226
Insurance-$51,085-$51,085
Other Expenses$5,724$41,357-$47,081
Pension Plan Contributions$23,216$19,110-$42,326
Fees for Services Legal-$27,785-$27,785
Office Expenses-$6,590-$6,590
Total Functional Expenses$2,691,875$654,078$0$3,345,953

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,345,953
Total Expenses per Audited Statements$3,345,953
Total Expenses per Form 990$3,345,953
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
2024-09-16

Organization Details

Principal Officer
Larry Klein
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
20

Preparer

Firm
Schroer & Associates Pc
Address
42 N 2ND ST, COUNCIL BLUFFS, IA 51503-9027
Preparer
Diane C Mcgrain
Phone
7123228734
Raw XML Appendix340 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/TotalRevEtcAuditedFinclStmtAmt04836321
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03345953
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt025527699
IRS990/TotalAssetsGrp/BOYAmt023976978
IRS990/TotalAssetsGrp/EOYAmt025527699
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000000
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0654078
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02691875
IRS990/TotalFunctionalExpensesGrp/TotalAmt03345953
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013556367
IRS990/TotalLiabilitiesEOYAmt013616720
IRS990/TotalLiabilitiesGrp/BOYAmt013556367
IRS990/TotalLiabilitiesGrp/EOYAmt013616720
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010420611
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011910979
IRS990/TotalProgramServiceExpensesAmt02691875
IRS990/TotalProgramServiceRevenueAmt03643608
IRS990/TotalRevenueGrp/ExclusionAmt0192713
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03643608
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04836321
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023976978
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025527699
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/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LARRY KLEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-16
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/PreparationDt02024-09-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIANE C MCGRAIN
ReturnHeader/ReturnTs02024-09-16T18:00:57-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,527,699
Liabilities
$13,616,720
Net assets
$11,910,979
Revenue
$4,836,321
Expenses
$3,345,953
Net income
$1,490,368
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)12 • $25M-$50M nonprofits