Civic Intelligence

Logansport Water System

990 • Fiscal year 2020 • EIN 46-2920155

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 01, 2021

Organization ProfileN/A
1148 198th RoadBoone, IA 50036

(515) 230-1790

Siviq Scores

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

Liabilities / Assets

91st percentile

0.68x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

5.23x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Net Margin

85th percentile

43%

Higher net margin than 85% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

78th percentile

$9,312

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Asset Growth

98th percentile

280%

Faster asset growth than 98% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

61st percentile

3.1%

Faster revenue growth than 61% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$733,515

Up $540,615 (+280%) from 2019

Net Assets

Up

$234,157

Up $41,257 (+21%) from 2019

Liabilities

$499,358

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin85th percentile

Revenue

Up

$95,510

Up $2,903 (+3.1%) from 2019

Expenses

Up

$54,253

Up $997 (+1.9%) from 2019

Net Income

Up

$41,257

Up $1,906 (+4.8%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2013: $1Liabilities 2013: $02013Assets 2016: $104,836Net Assets 2016: $104,8362016Assets 2017: $127,050Net Assets 2017: $127,0502017Assets 2018: $153,549Net Assets 2018: $153,5492018Assets 2019: $192,900Net Assets 2019: $192,9002019Assets 2020: $733,515Liabilities 2020: $499,358Net Assets 2020: $234,1572020Assets 2021: $1,521,973Liabilities 2021: $841,944Net Assets 2021: $680,0292021Assets 2022: $1,579,132Liabilities 2022: $827,812Net Assets 2022: $751,3202022Assets 2023: $1,538,418Liabilities 2023: $812,946Net Assets 2023: $725,4722023Assets 2024: $1,493,305Liabilities 2024: $797,820Net Assets 2024: $695,4852024

Highlighted filing

2020

Assets$733,515
Liabilities$499,358
Net Assets$234,157
Open 2020 Filing

Operations Trend

Revenue Growth61st percentile

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

$600K$400K$200K$0-$200KRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2016: $61,817Expenses 2016: $39,419Net Income 2016: $22,3982016Revenue 2017: $65,007Expenses 2017: $42,793Net Income 2017: $22,2142017Revenue 2018: $73,791Expenses 2018: $47,292Net Income 2018: $26,4992018Revenue 2019: $92,607Expenses 2019: $53,256Net Income 2019: $39,3512019Revenue 2020: $95,510Expenses 2020: $54,253Net Income 2020: $41,2572020Revenue 2021: $521,623Expenses 2021: $75,751Net Income 2021: $445,8722021Revenue 2022: $115,494Expenses 2022: $132,352Net Income 2022: -$16,8582022Revenue 2023: $93,456Expenses 2023: $119,304Net Income 2023: -$25,8482023Revenue 2024: $98,532Expenses 2024: $128,519Net Income 2024: -$29,9872024

Highlighted filing

2020

Revenue$95,510
Expenses$54,253
Net Income$41,257
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 1, 2021
Return Version
2020v4.0
Gross Receipts
$95,510
Mission and Program Overview

Mission

The organization's purpose is to provide water for residential and agricultural purposes in the logansport, iowa area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$101,393$621,808▲ $520,415
Cash and Non-Interest-Bearing Accounts$91,507$105,913▲ $14,406
Accounts Receivable-$5,794-
Total Assets$192,900$733,515▲ $540,615
Liabilities
Other Liabilities-$495,727-
Accounts Payable and Accrued Expenses-$3,631-
Total Liabilities$0$499,358▲ $499,358
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$192,900$234,157▲ $41,257
Total Net Assets Fund Balance$192,900$234,157▲ $41,257
Total Liabilities and Net Assets / Fund Balance$192,900$733,515▲ $540,615
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lowell GrahamPresidentFT$9,312$9,312
Sue HudsonSecretary/trPT$3,357$3,357
Joel LindahlDirectorPT$2,112$2,112

Board Members and Trustees

NameTitle
Jeff AskeyDirector
Mary OsborneDirector
Rick ThompsonDirector
Carl OhrtmanVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$85,357
Investment Income
$0
Other Revenue
$10,153
Change in Net Assets
$41,257
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$37,384
Salaries, Compensation, and Employee Benefits$16,869
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,410$811-$16,221
Fees for Services Other$5,182--$5,182
Office Expenses$2,483--$2,483
Insurance$1,495--$1,495
Payroll Taxes$616$32-$648
Fees for Services Accounting-$425-$425
Occupancy$60--$60
Other Expenses$25--$25
All Other Expenses$23--$23
Total Functional Expenses$52,985$1,268$0$54,253
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
Loan$495,727
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Logansport Water System
EIN
46-2920155
Phone
5152301790
Address
1148 198TH ROAD, BOONE, IA 50036

Signing Officer

Name
Lowell Graham
Title
President
Phone
5152013327
Signed
2021-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lowell Graham
Formed
2013
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
Henkel & Associates Pc
Address
817 KEELER ST, BOONE, IA 50036
Preparer
Christopher Jacobsen
Phone
5154328636
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 1

“The organization has changed to the accrual basis of accounting to better reflect the reporting of its operations.”

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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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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$733,515
Liabilities
$499,358
Net assets
$234,157
Revenue
$95,510
Expenses
$54,253
Net income
$41,257
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.49$0.80$0.70$0.10$0.13$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.54$0.81$0.73$0.09$0.12$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.58$0.83$0.75$0.12$0.13$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.52$0.84$0.68$0.52$0.08$0.45
2020Detailed filing. Detailed filing data is available for this year.$0.73$0.50$0.23$0.10$0.05$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.19$0.19$0.09$0.05$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.15$0.15$0.07$0.05$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.13$0.13$0.07$0.04$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.10$0.06$0.04$0.02
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00