Civic Intelligence

Kingbrook Rural Water System Inc

990 • Fiscal year 2017 • EIN 46-0322961

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

Organization ProfileN/A
PO Box 299Arlington, SD 57212

(605) 983-5074

Siviq Scores

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

Liabilities / Assets

27th percentile

0.39x

Higher debt load relative to assets than 27% of similar nonprofits.

2017 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

84th percentile

2.69x

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

2017 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2017

Net Margin

92nd percentile

16%

Higher net margin than 92% of similar nonprofits.

2017 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

26th percentile

$141,727

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2017 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2017

Asset Growth

58th percentile

2.9%

Faster asset growth than 58% of similar nonprofits.

2017 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

70th percentile

5.9%

Faster revenue growth than 70% of similar nonprofits.

2017 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$39,378,926

Up $1,102,112 (+2.9%) from 2016

Net Assets

Up

$24,021,723

Up $924,259 (+4.0%) from 2016

Liabilities

Up

$15,357,203

Up $177,853 (+1.2%) from 2016

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin92nd percentile

Revenue

Up

$5,705,487

Up $318,137 (+5.9%) from 2016

Expenses

Up

$4,781,228

Up $171,867 (+3.7%) from 2016

Net Income

Up

$924,259

Up $146,270 (+19%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$100M$50M$0Assets 2011: $36,011,942Liabilities 2011: $18,368,788Net Assets 2011: $17,643,1542011Assets 2012: $37,043,050Liabilities 2012: $17,249,378Net Assets 2012: $19,793,6722012Assets 2013: $36,421,117Liabilities 2013: $16,523,296Net Assets 2013: $19,897,8212013Assets 2014: $36,247,725Liabilities 2014: $15,704,064Net Assets 2014: $20,543,6612014Assets 2015: $38,627,193Liabilities 2015: $16,307,718Net Assets 2015: $22,319,4752015Assets 2016: $38,276,814Liabilities 2016: $15,179,350Net Assets 2016: $23,097,4642016Assets 2017: $39,378,926Liabilities 2017: $15,357,203Net Assets 2017: $24,021,7232017Assets 2018: $47,000,843Liabilities 2018: $22,390,002Net Assets 2018: $24,610,8412018Assets 2019: $50,059,089Liabilities 2019: $23,920,789Net Assets 2019: $26,138,3002019Assets 2020: $50,727,730Liabilities 2020: $23,450,940Net Assets 2020: $27,276,7902020Assets 2021: $51,752,105Liabilities 2021: $22,992,102Net Assets 2021: $28,760,0032021Assets 2022: $59,675,886Liabilities 2022: $26,764,756Net Assets 2022: $32,911,1302022Assets 2023: $65,246,493Liabilities 2023: $26,799,641Net Assets 2023: $38,446,8522023Assets 2024: $86,158,759Liabilities 2024: $29,679,753Net Assets 2024: $56,479,0062024

Highlighted filing

2017

Assets$39,378,926
Liabilities$15,357,203
Net Assets$24,021,723
Open 2017 Filing

Operations Trend

Revenue Growth70th percentile

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

$30M$20M$10M$0Expenses 2011: $3,655,4782011Expenses 2012: $3,834,8942012Revenue 2013: $4,077,608Expenses 2013: $3,973,459Net Income 2013: $104,1492013Revenue 2014: $4,810,040Expenses 2014: $4,164,200Net Income 2014: $645,8402014Revenue 2015: $6,097,788Expenses 2015: $4,321,974Net Income 2015: $1,775,8142015Revenue 2016: $5,387,350Expenses 2016: $4,609,361Net Income 2016: $777,9892016Revenue 2017: $5,705,487Expenses 2017: $4,781,228Net Income 2017: $924,2592017Revenue 2018: $5,218,714Expenses 2018: $4,629,596Net Income 2018: $589,1182018Revenue 2019: $6,671,712Expenses 2019: $5,144,253Net Income 2019: $1,527,4592019Revenue 2020: $6,866,575Expenses 2020: $5,728,085Net Income 2020: $1,138,4902020Revenue 2021: $7,687,381Expenses 2021: $6,204,168Net Income 2021: $1,483,2132021Revenue 2022: $10,793,043Expenses 2022: $6,641,916Net Income 2022: $4,151,1272022Revenue 2023: $12,480,485Expenses 2023: $6,944,763Net Income 2023: $5,535,7222023Revenue 2024: $24,885,510Expenses 2024: $6,853,356Net Income 2024: $18,032,1542024

Highlighted filing

2017

Revenue$5,705,487
Expenses$4,781,228
Net Income$924,259
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
$6,514,023
Mission and Program Overview

Mission

Sale of water to members in Hamlin, Clark, Kingsbury, Brookings, Lake, Moody, Miner, Minnehaha, Beadle, Sanborn and McCook counties in South Dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$34,857,066$35,305,553▲ $448,487
Cash and Non-Interest-Bearing Accounts$802,859$796,575▼ $6,284
Accounts Receivable$302,181$385,005▲ $82,824
Savings and Temporary Cash Investments$389,396$381,782▼ $7,614
Inventories for Sale or Use$275,897$357,831▲ $81,934
Prepaid Expenses and Deferred Charges$22,331$68,049▲ $45,718
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$38,276,814$39,378,926▲ $1,102,112
Other Assets Total$1,627,084$2,084,131▲ $457,047
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,770,244$15,047,706▲ $277,462
Accounts Payable and Accrued Expenses$232,982$160,970▼ $72,012
Other Liabilities$127,775$123,451▼ $4,324
Deferred Revenue$48,349$25,076▼ $23,273
Total Liabilities$15,179,350$15,357,203▲ $177,853
Net Assets / Fund Balance
Unrestricted Net Assets$22,236,858$23,153,504▲ $916,646
Temporarily Rstr Net Assets$860,606$868,219▲ $7,613
Total Net Assets Fund Balance$23,097,464$24,021,723▲ $924,259
Total Liabilities and Net Assets / Fund Balance$38,276,814$39,378,926▲ $1,102,112

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$32,578,913$28,429,517$61,008,430
Land$2,509,151-$2,509,151
Buildings$164,905$191,172$356,077
Other Land Buildings$52,584$84,253$136,837
Other Assets Org$868,218--
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randy JencksManagerFT$134,034$7,693$141,727
Dale ThompsonDirector-$7,083-$7,083
Marvin AntonenChairman-$6,566-$6,566
Norman AndenasVice Chairman-$5,729-$5,729
Doyle RenaasDirector-$5,631-$5,631
Rodney StormoDirector-$4,882-$4,882
Travis SteffensenDirector-$4,638-$4,638
Scott TolzinSec/Treasurer-$4,443-$4,443
Revenue and Support

Revenue Composition

Contributions and Grants
$138,696
Program Service Revenue
$5,241,485
Investment Income
$-10,555
Other Revenue
$335,861
Change in Net Assets
$924,259

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,705,487
Total Revenue per Audited Statements
$5,705,487
Total Revenue per Form 990
$5,705,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,552,853
Salaries, Compensation, and Employee Benefits$1,228,375
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,619,908
Other Salaries and Wages---$707,196
Interest---$519,906
Other Employee Benefits---$282,228
All Other Expenses---$225,216
Current Officers, Directors, Trustees, and Key Employees---$173,006
Other Expenses---$67,777
Payroll Taxes---$65,945
Insurance---$39,339
Fees for Services Accounting---$25,001
Office Expenses---$24,868
Travel---$9,178
Total Functional Expenses$0$0$0$4,781,228

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,781,228
Total Expenses per Audited Statements$4,781,228
Total Expenses per Form 990$4,781,228
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$123,451
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
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, 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
Kingbrook Rural Water System Inc
EIN
46-0322961
Phone
6059835074
Address
PO Box 299, Arlington, SD 57212

Signing Officer

Name
Randy Jencks
Title
Manager
Signed
2018-03-21
Discuss with paid preparer
Yes

Organization Details

Formed
1975
Legal Domicile
Sd
Voting Board Members
7
Independent Board Members
7
Employees
20

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/ReportProgramRelatedInvstInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt028429517
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IRS990ScheduleD/ExpensesSubtotalAmt04781228
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2434183
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3335369
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4868218
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Current portion of prefunded retirement
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Investment in Joint Well Field, Inc
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Patronage Equities
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Prefunded retirement surcharge
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Reserve funds invested in Cert of Dep
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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/TotalNetAssetsFundBalanceGrp/EOYAmt024021723
IRS990/TotalOtherCompensationAmt07693
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt039378926
IRS990/TravelGrp/TotalAmt09178
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt022236858
IRS990/UnrestrictedNetAssetsGrp/EOYAmt023153504
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Randy Jencks
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Manager
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Kingbrook Rural Water System Inc
ReturnHeader/Filer/BusinessNameControlTxt0KING

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$39,378,926
Liabilities
$15,357,203
Net assets
$24,021,723
Revenue
$5,705,487
Expenses
$4,781,228
Net income
$924,259
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$86.2$29.7$56.5$24.9$6.85$18.0
2023Detailed filing. Detailed filing data is available for this year.$65.2$26.8$38.4$12.5$6.94$5.54
2022Detailed filing. Detailed filing data is available for this year.$59.7$26.8$32.9$10.8$6.64$4.15
2021Detailed filing. Detailed filing data is available for this year.$51.8$23.0$28.8$7.69$6.20$1.48
2020Detailed filing. Detailed filing data is available for this year.$50.7$23.5$27.3$6.87$5.73$1.14
2019Detailed filing. Detailed filing data is available for this year.$50.1$23.9$26.1$6.67$5.14$1.53
2018Detailed filing. Detailed filing data is available for this year.$47.0$22.4$24.6$5.22$4.63$0.59
2017Detailed filing. Detailed filing data is available for this year.$39.4$15.4$24.0$5.71$4.78$0.92
2016Detailed filing. Detailed filing data is available for this year.$38.3$15.2$23.1$5.39$4.61$0.78
2015Detailed filing. Detailed filing data is available for this year.$38.6$16.3$22.3$6.10$4.32$1.78
2014Detailed filing. Detailed filing data is available for this year.$36.2$15.7$20.5$4.81$4.16$0.65
2013Detailed filing. Detailed filing data is available for this year.$36.4$16.5$19.9$4.08$3.97$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.0$17.2$19.8$3.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.0$18.4$17.6$3.66