Civic Intelligence

Sioux Rural Water System Inc

990 • Fiscal year 2017 • EIN 46-0319686

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 21, 2018

Organization ProfileN/A
45703 176th StreetWatertown, SD 57201

(605) 882-1321

Siviq Scores

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

Liabilities / Assets

55th percentile

0.39x

Higher debt load relative to assets than 55% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

64th percentile

1.93x

Higher debt load relative to revenue than 64% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Net Margin

85th percentile

21%

Higher net margin than 85% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

45th percentile

$83,557

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Asset Growth

68th percentile

3.9%

Faster asset growth than 68% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

5th percentile

-14%

Faster revenue growth than 5% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$11,702,942

Up $437,276 (+3.9%) from 2016

Net Assets

Up

$7,155,177

Up $490,756 (+7.4%) from 2016

Liabilities

Down

$4,547,765

Down $53,480 (-1.2%) from 2016

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin85th percentile

Revenue

Down

$2,355,929

Down $376,556 (-14%) from 2016

Expenses

Up

$1,865,173

Up $121,664 (+7.0%) from 2016

Net Income

Down

$490,756

Down $498,220 (-50%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$30M$20M$10M$0Assets 2011: $8,898,397Liabilities 2011: $4,179,740Net Assets 2011: $4,718,6572011Assets 2012: $9,361,747Liabilities 2012: $3,927,740Net Assets 2012: $5,434,0072012Assets 2013: $9,117,052Liabilities 2013: $3,704,564Net Assets 2013: $5,412,4882013Assets 2014: $8,975,394Liabilities 2014: $3,419,648Net Assets 2014: $5,555,7462014Assets 2015: $8,845,389Liabilities 2015: $3,169,944Net Assets 2015: $5,675,4452015Assets 2016: $11,265,666Liabilities 2016: $4,601,245Net Assets 2016: $6,664,4212016Assets 2017: $11,702,942Liabilities 2017: $4,547,765Net Assets 2017: $7,155,1772017Assets 2018: $12,935,430Liabilities 2018: $5,046,639Net Assets 2018: $7,888,7912018Assets 2019: $13,147,061Liabilities 2019: $4,804,113Net Assets 2019: $8,342,9482019Assets 2020: $13,953,858Liabilities 2020: $5,250,179Net Assets 2020: $8,703,6792020Assets 2021: $16,692,563Liabilities 2021: $6,974,183Net Assets 2021: $9,718,3802021Assets 2022: $19,435,568Liabilities 2022: $8,727,945Net Assets 2022: $10,707,6232022Assets 2023: $22,450,876Liabilities 2023: $9,771,234Net Assets 2023: $12,679,6422023

Highlighted filing

2017

Assets$11,702,942
Liabilities$4,547,765
Net Assets$7,155,177
Open 2017 Filing

Operations Trend

Revenue Growth5th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,549,688Expenses 2011: $1,452,645Net Income 2011: $97,0432011Expenses 2012: $1,475,8522012Revenue 2013: $1,649,661Expenses 2013: $1,671,180Net Income 2013: -$21,5192013Revenue 2014: $1,757,705Expenses 2014: $1,614,447Net Income 2014: $143,2582014Revenue 2015: $1,784,117Expenses 2015: $1,664,418Net Income 2015: $119,6992015Revenue 2016: $2,732,485Expenses 2016: $1,743,509Net Income 2016: $988,9762016Revenue 2017: $2,355,929Expenses 2017: $1,865,173Net Income 2017: $490,7562017Revenue 2018: $2,486,653Expenses 2018: $1,753,039Net Income 2018: $733,6142018Revenue 2019: $2,256,040Expenses 2019: $1,801,883Net Income 2019: $454,1572019Revenue 2020: $2,355,072Expenses 2020: $1,994,341Net Income 2020: $360,7312020Revenue 2021: $2,897,271Expenses 2021: $1,882,570Net Income 2021: $1,014,7012021Revenue 2022: $3,231,112Expenses 2022: $2,241,869Net Income 2022: $989,2432022Revenue 2023: $4,484,830Expenses 2023: $2,512,811Net Income 2023: $1,972,0192023

Highlighted filing

2017

Revenue$2,355,929
Expenses$1,865,173
Net Income$490,756
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 21, 2018
Return Version
2017v2.2
Gross Receipts
$2,355,929
Mission and Program Overview

Mission

Provide a sufficient amount of quality water to members and towns in Hamlin, Codington, Deuel and Clark counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,276,235$9,577,514▲ $301,279
Savings and Temporary Cash Investments$822,760$1,017,160▲ $194,400
Cash and Non-Interest-Bearing Accounts$853,613$764,941▼ $88,672
Inventories for Sale or Use$57,830$62,742▲ $4,912
Accounts Receivable$23,126$48,599▲ $25,473
Prepaid Expenses and Deferred Charges$14,874$3,606▼ $11,268
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$11,265,666$11,702,942▲ $437,276
Other Assets Total$217,228$228,380▲ $11,152
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,172,692$4,407,110▲ $234,418
Accounts Payable and Accrued Expenses$428,553$140,655▼ $287,898
Total Liabilities$4,601,245$4,547,765▼ $53,480
Net Assets / Fund Balance
Unrestricted Net Assets$6,261,516$6,965,672▲ $704,156
Temporarily Rstr Net Assets$402,905$189,505▼ $213,400
Total Net Assets Fund Balance$6,664,421$7,155,177▲ $490,756
Total Liabilities and Net Assets / Fund Balance$11,265,666$11,702,942▲ $437,276

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,820,694$6,382,625$13,203,319
Buildings$2,442,285$3,160,368$5,602,653
Equipment$63,614$323,359$386,973
Land$243,451-$243,451
Other Land Buildings$7,470$77,368$84,838
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Heath ThompsonManagerFT$83,557$83,557
Darwin MackPresident-$8,141$8,141
Jim ThyenDirector-$6,628$6,628
Kent RoeVice President-$5,243$5,243
Todd MoritzSecretary-$5,232$5,232
Betsy OlseonDirector-$4,738$4,738
Keith SmithDirector-$4,472$4,472
Daniel SchleusnerDirector-$4,401$4,401
Jon HeggeTreasurer-$4,154$4,154
Brad JongelingDirector-$2,993$2,993
Revenue and Support

Revenue Composition

Contributions and Grants
$420,826
Program Service Revenue
$1,768,380
Investment Income
$3,833
Other Revenue
$162,890
Change in Net Assets
$490,756

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,355,929
Total Revenue per Audited Statements
$2,355,929
Total Revenue per Form 990
$2,355,929
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,366,765
Salaries, Compensation, and Employee Benefits$498,408
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$499,278
Other Salaries and Wages---$262,560
Interest---$195,991
Current Officers, Directors, Trustees, and Key Employees---$129,559
Fees for Services Legal---$124,451
Other Employee Benefits---$79,359
All Other Expenses---$50,467
Office Expenses---$29,464
Payroll Taxes---$26,930
Insurance---$24,955
Other Expenses---$23,091
Travel---$5,697
Fees for Services Accounting---$3,689
Total Functional Expenses$0$0$0$1,865,173

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,865,173
Total Expenses per Audited Statements$1,865,173
Total Expenses per Form 990$1,865,173
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Membership in the corporation is limited to system users and is further defined in the organization's by-laws.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members of the Organization elect directors at the annual meeting.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Any business conducted at the annual meeting, such as approving the auditor's report and reading of the prior minutes.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The financial statements and tax returns are submitted to the Board of Directors for review and approval, which may or may not occur prior to the filing of the completed tax returns.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization monitors and enforces any conflicts that may arise.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The board reviews the general manager's performance and sets compensation. They monitor amounts paid to similar positions within the industry.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Sioux Rural Water System Inc
EIN
46-0319686
Phone
6058821321
Address
45703 176th Street, Watertown, SD 57201

Signing Officer

Name
Heath Thompson
Title
General Manager
Signed
2018-03-21
Discuss with paid preparer
Yes

Organization Details

Formed
1973
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
9

Preparer

Firm
Kinner & Company Ltd
Address
404 3rd Ave PO Box 690, Brookings, SD 57006
Preparer
Nathan Kinner
Phone
6056922515
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IRS990/OtherExpensesGrp/TotalAmt1168335
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IRS990/OtherExpensesGrp/TotalAmt323091
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt127217
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt216320
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IRS990/PayrollTaxesGrp/TotalAmt026930
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IRS990/PYOtherRevenueAmt070091
IRS990/PYProgramServiceRevenueAmt01711482
IRS990/PYRevenuesLessExpensesAmt0988976
IRS990/PYSalariesCompEmpBnftPaidAmt0449059
IRS990/PYTotalExpensesAmt01743509
IRS990/PYTotalRevenueAmt02732485
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0490756
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt015851
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0822760
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IRS990ScheduleD/BuildingsGrp/BookValueAmt02442285
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03160368
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IRS990ScheduleD/EquipmentGrp/BookValueAmt063614
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0323359
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt077368
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt084838
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt09577514
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IRS990ScheduleD/TotalRevenuePerForm990Amt02355929
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Membership in the corporation is limited to system users and is further defined in the organization's by-laws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members of the Organization elect directors at the annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Any business conducted at the annual meeting, such as approving the auditor's report and reading of the prior minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The financial statements and tax returns are submitted to the Board of Directors for review and approval, which may or may not occur prior to the filing of the completed tax returns.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization monitors and enforces any conflicts that may arise.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The board reviews the general manager's performance and sets compensation. They monitor amounts paid to similar positions within the industry.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceRevenueAmt01768380
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011702942
IRS990/TravelGrp/TotalAmt05697
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt06261516
IRS990/UnrestrictedNetAssetsGrp/EOYAmt06965672
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Heath Thompson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0General Manager
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Sioux Rural Water System Inc
ReturnHeader/Filer/BusinessNameControlTxt0SIOU
ReturnHeader/Filer/EIN0460319686
ReturnHeader/Filer/PhoneNum06058821321

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,702,942
Liabilities
$4,547,765
Net assets
$7,155,177
Revenue
$2,355,929
Expenses
$1,865,173
Net income
$490,756
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$22.5$9.77$12.7$4.48$2.51$1.97
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.4$8.73$10.7$3.23$2.24$0.99
2021Summary only. Only limited summary data is available for this year.$16.7$6.97$9.72$2.90$1.88$1.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.0$5.25$8.70$2.36$1.99$0.36
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.1$4.80$8.34$2.26$1.80$0.45
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.9$5.05$7.89$2.49$1.75$0.73
2017Detailed filing. Detailed filing data is available for this year.$11.7$4.55$7.16$2.36$1.87$0.49
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.3$4.60$6.66$2.73$1.74$0.99
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.85$3.17$5.68$1.78$1.66$0.12
2014Summary only. Only limited summary data is available for this year.$8.98$3.42$5.56$1.76$1.61$0.14
2013Detailed filing. Detailed filing data is available for this year.$9.12$3.70$5.41$1.65$1.67$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.36$3.93$5.43$1.48
2011Summary only. Only limited summary data is available for this year.$8.90$4.18$4.72$1.55$1.45$0.10