Civic Intelligence

Sioux Rural Water System Inc

990 • Fiscal year 2019 • EIN 46-0319686

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 21, 2020

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

49th percentile

0.37x

Higher debt load relative to assets than 49% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

64th percentile

2.13x

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

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Net Margin

80th percentile

20%

Higher net margin than 80% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$88,619

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Asset Growth

47th percentile

1.6%

Faster asset growth than 47% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

8th percentile

-9.3%

Faster revenue growth than 8% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$13,147,061

Up $211,631 (+1.6%) from 2018

Net Assets

Up

$8,342,948

Up $454,157 (+5.8%) from 2018

Liabilities

Down

$4,804,113

Down $242,526 (-4.8%) from 2018

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin80th percentile

Revenue

Down

$2,256,040

Down $230,613 (-9.3%) from 2018

Expenses

Up

$1,801,883

Up $48,844 (+2.8%) from 2018

Net Income

Down

$454,157

Down $279,457 (-38%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth47th 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

2019

Assets$13,147,061
Liabilities$4,804,113
Net Assets$8,342,948
Open 2019 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-$2.0MRevenue 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

2019

Revenue$2,256,040
Expenses$1,801,883
Net Income$454,157
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 21, 2020
Return Version
2019v5.0
Gross Receipts
$2,256,040
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$10,637,417$11,086,444▲ $449,027
Cash and Non-Interest-Bearing Accounts$869,377$1,108,542▲ $239,165
Savings and Temporary Cash Investments$1,037,309$526,274▼ $511,035
Inventories for Sale or Use$102,587$111,296▲ $8,709
Accounts Receivable$46,469$56,077▲ $9,608
Prepaid Expenses and Deferred Charges$4,173$7,354▲ $3,181
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$12,935,430$13,147,061▲ $211,631
Other Assets Total$238,098$251,074▲ $12,976
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,929,994$4,732,285▼ $197,709
Accounts Payable and Accrued Expenses$116,645$71,828▼ $44,817
Total Liabilities$5,046,639$4,804,113▼ $242,526
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,699,286$8,203,443▲ $504,157
Net Assets With Donor Restrictions$189,505$139,505▼ $50,000
Total Net Assets Fund Balance$7,888,791$8,342,948▲ $454,157
Total Liabilities and Net Assets / Fund Balance$12,935,430$13,147,061▲ $211,631

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$8,380,429$6,984,172$15,364,601
Buildings$2,342,615$3,493,209$5,835,824
Equipment$99,977$327,222$427,199
Land$244,591-$244,591
Other Land Buildings$18,832$85,049$103,881
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heath ThompsonManagerFT$88,356$263$88,619
Darwin MackPresident-$8,403-$8,403
Jim ThyenDirector-$6,601-$6,601
Kent RoeVice President-$4,124-$4,124
Todd MoritzSecretary-$4,044-$4,044
Betsy OlseonDirector-$3,746-$3,746
Keith SmithDirector-$3,520-$3,520
Daniel SchleusnerDirector-$3,406-$3,406
Brad JongelingDirector-$2,655-$2,655
Jon HeggeTreasurer-$2,553-$2,553
Revenue and Support

Revenue Composition

Contributions and Grants
$157,266
Program Service Revenue
$1,996,137
Investment Income
$35,290
Other Revenue
$67,347
Change in Net Assets
$454,157

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,256,040
Total Revenue per Audited Statements
$2,256,040
Total Revenue per Form 990
$2,256,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,302,621
Salaries, Compensation, and Employee Benefits$499,262
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$514,046
Other Salaries and Wages---$267,901
Interest---$185,836
Current Officers, Directors, Trustees, and Key Employees---$127,408
Other Employee Benefits---$76,981
All Other Expenses---$59,699
Office Expenses---$49,513
Fees for Services Legal---$28,797
Other Expenses---$27,667
Insurance---$27,124
Payroll Taxes---$26,972
Travel---$7,407
Fees for Services Accounting---$4,849
Total Functional Expenses$0$0$0$1,801,883

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,801,883
Total Expenses per Audited Statements$1,801,883
Total Expenses per Form 990$1,801,883
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 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
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
2020-03-21
Discuss with paid preparer
Yes

Organization Details

Formed
1973
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
7

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/OtherRevenueMiscGrp/Desc1Patronage Dividends
IRS990/OtherRevenueMiscGrp/Desc2Penalties/Late Fees
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt125974
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IRS990/ProgramServiceRevenueGrp/Desc1Sale of Water
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IRS990/PYOtherRevenueAmt067927
IRS990/PYProgramServiceRevenueAmt01880258
IRS990/PYRevenuesLessExpensesAmt0733614
IRS990/PYSalariesCompEmpBnftPaidAmt0467034
IRS990/PYTotalExpensesAmt01753039
IRS990/PYTotalRevenueAmt02486653
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0454157
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
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IRS990/RentalIncomeOrLossGrp/RealAmt017259
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt099977
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0327222
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IRS990ScheduleD/ExpensesSubtotalAmt01801883
IRS990ScheduleD/LandGrp/BookValueAmt0244591
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0244591
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08380429
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt06984172
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt015364601
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt085049
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0103881
IRS990ScheduleD/RevenueSubtotalAmt02256040
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011086444
IRS990ScheduleD/TotalExpensesPerForm990Amt01801883
IRS990ScheduleD/TotalRevenuePerForm990Amt02256040
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02256040
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IRS990/ScheduleJRequiredInd0false
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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/SubjectToExcsTaxNetInvstIncInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalReportableCompFromOrgAmt0127408
IRS990/TotalRevenueGrp/ExclusionAmt011940
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IRS990/TravelGrp/TotalAmt07407
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt045703 176th Street
IRS990/USAddress/CityNm0Watertown
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057201
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,147,061
Liabilities
$4,804,113
Net assets
$8,342,948
Revenue
$2,256,040
Expenses
$1,801,883
Net income
$454,157
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
2019Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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