Civic Intelligence

Logansport Water System

990 • Fiscal year 2022 • EIN 46-2920155

Jan 01, 2022 to Dec 31, 2022 • Filed on May 10, 2023

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

87th percentile

0.52x

Higher debt load relative to assets than 87% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

98th percentile

7.17x

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

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Net Margin

17th percentile

-15%

Higher net margin than 17% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

70th percentile

$12,074

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Asset Growth

58th percentile

3.8%

Faster asset growth than 58% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

3rd percentile

-78%

Faster revenue growth than 3% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$1,579,132

Up $57,159 (+3.8%) from 2021

Net Assets

Up

$751,320

Up $71,291 (+10%) from 2021

Liabilities

Down

$827,812

Down $14,132 (-1.7%) from 2021

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin17th percentile

Revenue

Down

$115,494

Down $406,129 (-78%) from 2021

Expenses

Up

$132,352

Up $56,601 (+75%) from 2021

Net Income

Down

-$16,858

Down $462,730 (-104%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth58th 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

2022

Assets$1,579,132
Liabilities$827,812
Net Assets$751,320
Open 2022 Filing

Operations Trend

Revenue Growth3rd 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

2022

Revenue$115,494
Expenses$132,352
Net Income-$16,858
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 10, 2023
Return Version
2022v5.0
Gross Receipts
$115,494
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
Land, Buildings, and Equipment, Net-$1,306,251-
Prepaid Expenses and Deferred Charges$1,281,752$0▼ $1,281,752
Cash and Non-Interest-Bearing Accounts$230,615$264,325▲ $33,710
Accounts Receivable$9,606$8,556▼ $1,050
Savings and Temporary Cash Investments-$0-
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-
Inventories for Sale or Use-$0-
Total Assets$1,521,973$1,579,132▲ $57,159
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$840,000$827,810▼ $12,190
Other Liabilities$1,944$2▼ $1,942
Total Liabilities$841,944$827,812▼ $14,132
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$680,029$751,320▲ $71,291
Total Net Assets Fund Balance$680,029$751,320▲ $71,291
Total Liabilities and Net Assets / Fund Balance$1,521,973$1,579,132▲ $57,159

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,306,251$83,519$1,389,770
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lowell GrahamPresidentPT$12,074$12,074
Sue HudsonSecretary/TreasPT$3,898$3,898
Joel LindahlDirectorPT$1,711$1,711

Board Members and Trustees

NameTitle
Carl OhrtmanVice President
Jeff AskeyDirector
Martin YoungDirector
Mary OsborneDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$27,111
Program Service Revenue
$88,383
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-16,858
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$109,575
Salaries, Compensation, and Employee Benefits$22,777
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$55,957--$55,957
Current Officers, Directors, Trustees, and Key Employees$16,709$974-$17,683
Interest$15,606--$15,606
Fees for Services Other-$11,580-$11,580
Other Salaries and Wages$3,194--$3,194
All Other Expenses$2,214--$2,214
Office Expenses-$2,197-$2,197
Payroll Taxes$1,805$95-$1,900
Insurance$1,552--$1,552
Other Expenses$886--$886
Occupancy$70--$70
Total Functional Expenses$117,506$14,846$0$132,352
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
Payroll Liabilities$1
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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, Part VI, Section B, Line 11B

“Accountant reviewed with management and managment reviewed with board of directors”

Form 990, Part VI, Section B, Line 15A

“The board reviews the compensation of the board members annually and does comparisons with similar organizations.”

Form 990, Part VI, Section C, Line 19

“All required documents are available to the public upon request.”

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
Signed
2023-05-10
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
4

Preparer

Firm
Houston & Seeman PC
Address
724 Story St 601, Boone, IA 50036
Preparer
Kevin N Houston
Phone
5154321176
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Prior period adjustment = $88149”

Raw XML Appendix378 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/BuildingsGrp/DepreciationAmt083519
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01389770
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01306251
IRS990ScheduleD/TotalLiabilityAmt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACCOUNTANT REVIEWED WITH MANAGEMENT AND MANAGMENT REVIEWED WITH BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE COMPENSATION OF THE BOARD MEMBERS ANNUALLY AND DOES COMPARISONS WITH SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL REQUIRED DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR PERIOD ADJUSTMENT = $88149
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01521973
IRS990/TotalAssetsEOYAmt01579132
IRS990/TotalAssetsGrp/BOYAmt01521973
IRS990/TotalAssetsGrp/EOYAmt01579132
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt027111
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014846
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0117506
IRS990/TotalFunctionalExpensesGrp/TotalAmt0132352
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0841944
IRS990/TotalLiabilitiesEOYAmt0827812
IRS990/TotalLiabilitiesGrp/BOYAmt0841944
IRS990/TotalLiabilitiesGrp/EOYAmt0827812
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0680029
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0751320
IRS990/TotalProgramServiceExpensesAmt0117506
IRS990/TotalProgramServiceRevenueAmt088383
IRS990/TotalReportableCompFromOrgAmt017683
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt088383
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0115494
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01521973
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01579132
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01148 198TH ROAD
IRS990/USAddress/CityNm0BOONE
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050036
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LOWELL GRAHAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOGANSPORT WATER SYSTEM
ReturnHeader/Filer/BusinessNameControlTxt0LOGA
ReturnHeader/Filer/EIN0462920155
ReturnHeader/Filer/PhoneNum05152301790
ReturnHeader/Filer/USAddress/AddressLine1Txt01148 198TH ROAD
ReturnHeader/Filer/USAddress/CityNm0BOONE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050036
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421169936
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Houston & Seeman PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0724 Story St 601
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Boone
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050036
ReturnHeader/PreparerPersonGrp/PhoneNum05154321176
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kevin N Houston
ReturnHeader/ReturnTs02023-05-10T11:42:16-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LOWELL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GRAHAM
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,579,132
Liabilities
$827,812
Net assets
$751,320
Revenue
$115,494
Expenses
$132,352
Net income
-$16,858
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