Civic Intelligence

Logansport Water System

990 • Fiscal year 2023 • EIN 46-2920155

Jan 01, 2023 to Dec 31, 2023 • Filed on May 08, 2024

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

0.53x

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

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

8.70x

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

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

10th percentile

-28%

Higher net margin than 10% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

66th percentile

$4,548

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

26th percentile

-2.6%

Faster asset growth than 26% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

16th percentile

-19%

Faster revenue growth than 16% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$1,538,418

Down $40,714 (-2.6%) from 2022

Net Assets

Down

$725,472

Down $25,848 (-3.4%) from 2022

Liabilities

Down

$812,946

Down $14,866 (-1.8%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin10th percentile

Revenue

Down

$93,456

Down $22,038 (-19%) from 2022

Expenses

Down

$119,304

Down $13,048 (-9.9%) from 2022

Net Income

Down

-$25,848

Down $8,990 (-53%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2023

Assets$1,538,418
Liabilities$812,946
Net Assets$725,472
Open 2023 Filing

Operations Trend

Revenue Growth16th 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

2023

Revenue$93,456
Expenses$119,304
Net Income-$25,848
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 8, 2024
Return Version
2023v5.0
Gross Receipts
$93,456
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$1,249,462▼ $56,789
Cash and Non-Interest-Bearing Accounts$264,325$280,569▲ $16,244
Accounts Receivable$8,556$8,387▼ $169
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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,579,132$1,538,418▼ $40,714
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$827,810$812,946▼ $14,864
Other Liabilities$2--
Total Liabilities$827,812$812,946▼ $14,866
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$751,320$725,472▼ $25,848
Total Net Assets Fund Balance$751,320$725,472▼ $25,848
Total Liabilities and Net Assets / Fund Balance$1,579,132$1,538,418▼ $40,714

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,249,462$140,308$1,389,770
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lowell GrahamPresidentPT$4,548$4,548
Sue HudsonSecretary/TreasPT$4,196$4,196
Joel LindahlDirectorPT$780$780

Board Members and Trustees

NameTitle
Carl OhrtmanVice President
Jeff AskeyDirector
Mary OsborneDirector
Tim MorganDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,817
Program Service Revenue
$86,463
Investment Income
$3,876
Other Revenue
$300
Change in Net Assets
$-25,848
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$104,737
Salaries, Compensation, and Employee Benefits$14,567
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$56,789--$56,789
Interest$14,368--$14,368
Current Officers, Directors, Trustees, and Key Employees$8,475$1,049-$9,524
Other Salaries and Wages$4,008--$4,008
Office Expenses-$2,833-$2,833
All Other Expenses$1,954--$1,954
Insurance$1,616--$1,616
Other Expenses$1,549--$1,549
Payroll Taxes$955$80-$1,035
Fees for Services Other-$915-$915
Occupancy$90--$90
Total Functional Expenses$114,427$4,877$0$119,304
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
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
2024-05-08
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
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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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0140308
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01389770
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01249462
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/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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01579132
IRS990/TotalAssetsEOYAmt01538418
IRS990/TotalAssetsGrp/BOYAmt01579132
IRS990/TotalAssetsGrp/EOYAmt01538418
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02817
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04877
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0114427
IRS990/TotalFunctionalExpensesGrp/TotalAmt0119304
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0827812
IRS990/TotalLiabilitiesEOYAmt0812946
IRS990/TotalLiabilitiesGrp/BOYAmt0827812
IRS990/TotalLiabilitiesGrp/EOYAmt0812946
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0751320
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0725472
IRS990/TotalProgramServiceExpensesAmt0114427
IRS990/TotalProgramServiceRevenueAmt086463
IRS990/TotalReportableCompFromOrgAmt09524
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt090639
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt093456
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01579132
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01538418
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/SignatureDt02024-05-08
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/ReturnTs02024-05-08T13:22:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LOWELL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GRAHAM
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,538,418
Liabilities
$812,946
Net assets
$725,472
Revenue
$93,456
Expenses
$119,304
Net income
-$25,848
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)4 • $1M-$5M nonprofits