Civic Intelligence

Mulberry-Fairplains Water Association Inc

990 • Fiscal year 2017 • EIN 56-0809193

Jul 01, 2016 to Jun 30, 2017 • Filed on Aug 08, 2017

1613 Sparta RoadNorth Wilkesboro, NC 28659

(336) 670-2410

Siviq Scores

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

Liabilities / Assets

24th percentile

0.05x

Higher debt load relative to assets than 24% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

24th percentile

0.17x

Higher debt load relative to revenue than 24% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Net Margin

46th percentile

2.9%

Higher net margin than 46% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Asset Growth

51st percentile

0.1%

Faster asset growth than 51% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

88th percentile

20%

Faster revenue growth than 88% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,288,692

Up $1,906 (+0.1%) from 2016

Net Assets

Up

$2,174,620

Up $19,195 (+0.9%) from 2016

Liabilities

Down

$114,072

Down $17,289 (-13%) from 2016

Revenue

Up

$653,468

Up $108,450 (+20%) from 2016

Expenses

Up

$634,573

Up $65,639 (+12%) from 2016

Net Income

Up

$18,895

Up $42,811 (+179%) from 2016

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $2,284,162Liabilities 2012: $119,185Net Assets 2012: $2,164,9772012Assets 2013: $2,309,715Liabilities 2013: $167,969Net Assets 2013: $2,141,7462013Assets 2014: $2,324,171Liabilities 2014: $140,468Net Assets 2014: $2,183,7032014Assets 2015: $2,306,710Liabilities 2015: $127,569Net Assets 2015: $2,179,1412015Assets 2016: $2,286,786Liabilities 2016: $131,361Net Assets 2016: $2,155,4252016Assets 2017: $2,288,692Liabilities 2017: $114,072Net Assets 2017: $2,174,6202017Assets 2018: $2,342,187Liabilities 2018: $120,195Net Assets 2018: $2,221,9922018Assets 2019: $2,449,809Liabilities 2019: $173,108Net Assets 2019: $2,276,7012019Assets 2020: $2,319,930Liabilities 2020: $182,432Net Assets 2020: $2,137,4982020Assets 2021: $2,304,922Liabilities 2021: $283,853Net Assets 2021: $2,021,0692021Assets 2022: $2,239,675Liabilities 2022: $281,883Net Assets 2022: $1,957,7922022Assets 2023: $2,223,892Liabilities 2023: $296,825Net Assets 2023: $1,927,0672023

Highlighted filing

2017

Assets$2,288,692
Liabilities$114,072
Net Assets$2,174,620

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2012: $497,160Expenses 2012: $515,860Net Income 2012: -$18,7002012Revenue 2013: $525,916Expenses 2013: $529,475Net Income 2013: -$3,5592013Revenue 2014: $609,603Expenses 2014: $574,007Net Income 2014: $35,5962014Revenue 2015: $582,595Expenses 2015: $587,377Net Income 2015: -$4,7822015Revenue 2016: $545,018Expenses 2016: $568,934Net Income 2016: -$23,9162016Revenue 2017: $653,468Expenses 2017: $634,573Net Income 2017: $18,8952017Revenue 2018: $713,985Expenses 2018: $666,833Net Income 2018: $47,1522018Revenue 2019: $796,545Expenses 2019: $741,986Net Income 2019: $54,5592019Revenue 2020: $729,558Expenses 2020: $869,171Net Income 2020: -$139,6132020Revenue 2021: $644,898Expenses 2021: $807,024Net Income 2021: -$162,1262021Revenue 2022: $771,771Expenses 2022: $835,319Net Income 2022: -$63,5482022Revenue 2023: $828,517Expenses 2023: $858,877Net Income 2023: -$30,3602023

Highlighted filing

2017

Revenue$653,468
Expenses$634,573
Net Income$18,895
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Aug 8, 2017
Return Version
2016v3.0
Gross Receipts
$1,256,380
Mission and Program Overview

Mission

Supply of potable water to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,127,125$2,146,020▲ $18,895
Land, Buildings, and Equipment, Net$1,415,360$1,402,191▼ $13,169
Savings and Temporary Cash Investments$646,655$651,792▲ $5,137
Accounts Receivable$123,790$132,375▲ $8,585
Receivable From Disqualified Prsn$50,000$50,000→ $0
Inventories for Sale or Use$43,765$40,803▼ $2,962
Cap Stk Tr Prin Current Funds$28,300$28,600▲ $300
Prepaid Expenses and Deferred Charges$6,474$6,464▼ $10
Investments Program Related-$4,381-
Cash and Non-Interest-Bearing Accounts$742$686▼ $56
Total Assets$2,286,786$2,288,692▲ $1,906
Liabilities
Accounts Payable and Accrued Expenses$78,535$60,811▼ $17,724
Deferred Revenue$39,456$38,946▼ $510
Other Liabilities$13,370$14,315▲ $945
Total Liabilities$131,361$114,072▼ $17,289
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,155,425$2,174,620▲ $19,195
Total Liabilities and Net Assets / Fund Balance$2,286,786$2,288,692▲ $1,906

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,216,758$1,919,138$3,135,896
Buildings$120,708$114,997$235,705
Land$64,725-$64,725
Compensation and Service Providers

Board Members and Trustees

NameTitle
Matt LedfordPresident
Bill LoweDirector
Bill RiversDirector
Brandon AbsherDirector
Charles PeggDirector
Cody PerryDirector
Eddie CaudillDirector
Edward PorterDirector
Jonathan BillingsDirector
Keith JenkinsDirector
Paul BrownDirector
Billy Mac BryantSec/treasur
John BullionSec/treasur
Eric RogersVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$8,438
Other Revenue
$645,030
Change in Net Assets
$18,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$344,901
Salaries, Compensation, and Employee Benefits$289,672
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$225,616
Depreciation Depletion---$92,887
Pension Plan Contributions---$43,633
All Other Expenses---$27,356
Other Expenses---$25,284
Office Expenses---$23,992
Insurance---$22,903
Payroll Taxes---$17,272
Travel---$17,186
Occupancy---$16,687
Fees for Services Accounting---$4,781
Other Employee Benefits---$3,151
Total Functional Expenses$0$0$0$634,573
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$50,000$50,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Renters Deposits$14,315
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
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 7A

Each member is allowed a vote toward the election of the corporation's directors.

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

Board members review return with manager before filing.

Form 990, Page 6, Part VI, Line 15A

Officers and directors of corporation are not compensated.

Form 990, Page 6, Part VI, Line 15B

All employee salaries are approved by the board of directors each year and are appropriate based on industry standards. No key employee compensation in excess of 150,000. Officers' are not compensated.

Form 990, Page 6, Part VI, Line 19

Available upon request at corporation office. This information is also made public each year at the corporation's annual meeting.

Filing and Contact Details

Filer

Filer Name
Mulberry-fairplains Water
EIN
56-0809193
Phone
3366702410
Address
1613 SPARTA ROAD, NORTH WILKESBORO, NC 28659

Signing Officer

Name
Matt Ledford
Title
President
Phone
3366702410
Signed
2017-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Ledford
Formed
1964
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
5

Preparer

Firm
Barnes & Barnes Cpas
Address
313 MAIN STREET, NORTH WILKESBORO, NC 28659-4401
Preparer
G Scott Barnes CPA
Phone
3366674128
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

MEMBERSHIPS 300

Raw XML AppendixShowing 400 of 426 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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IRS990/Desc0THE CORPORATION PURCHASED 333.4 MILLION GALLONS OF WATER IN ORDER TO SUPPLY POTABLE WATER TO ITS 2,860 CURRENT MEMBERS. SYSTEMS WERE FULLY MAINTAINED AND UPGRADED IN ORDER TO PROVIDE UTMOST SERVICE.
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt017272
IRS990/PensionPlanContributionsGrp/TotalAmt043633
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06474
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06464
IRS990/PrincipalOfficerNm0MATT LEDFORD
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt04027
IRS990/PYOtherExpensesAmt0283758
IRS990/PYOtherRevenueAmt0540991
IRS990/PYRevenuesLessExpensesAmt0-23916
IRS990/PYSalariesCompEmpBnftPaidAmt0285176
IRS990/PYTotalExpensesAmt0568934
IRS990/PYTotalRevenueAmt0545018
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt050000
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt050000
IRS990/ReconcilationRevenueExpnssAmt018895
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/RentalIncomeOrLossGrp/RealAmt076965
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02127125
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02146020
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0646655
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0651792
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0120708
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0114997
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0235705
IRS990ScheduleD/EquipmentGrp/BookValueAmt01216758
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01919138
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03135896
IRS990ScheduleD/LandGrp/BookValueAmt064725
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt064725
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014315
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RENTERS DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01402191
IRS990ScheduleD/TotalLiabilityAmt014315
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt050000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0POSSIBLE WATER TREATMENT FACILITY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt050000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0REDDIES RIVER WATER WORKS INC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt050000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH MEMBER IS ALLOWED A VOTE TOWARD THE ELECTION OF THE CORPORATION'S DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS REVIEW RETURN WITH MANAGER BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS AND DIRECTORS OF CORPORATION ARE NOT COMPENSATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL EMPLOYEE SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS EACH YEAR AND ARE APPROPRIATE BASED ON INDUSTRY STANDARDS. NO KEY EMPLOYEE COMPENSATION IN EXCESS OF 150,000. OFFICERS' ARE NOT COMPENSATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST AT CORPORATION OFFICE. THIS INFORMATION IS ALSO MADE PUBLIC EACH YEAR AT THE CORPORATION'S ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MEMBERSHIPS 300
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0REDDIES RIVER WATER WORKS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0561776777
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C12
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0NOT ACTIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01613 SPARTA ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NORTH WILKESBORO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd028659
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02286786
IRS990/TotalAssetsEOYAmt02288692
IRS990/TotalAssetsGrp/BOYAmt02286786
IRS990/TotalAssetsGrp/EOYAmt02288692
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0634573
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0131361
IRS990/TotalLiabilitiesEOYAmt0114072
IRS990/TotalLiabilitiesGrp/BOYAmt0131361
IRS990/TotalLiabilitiesGrp/EOYAmt0114072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02155425
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02174620
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0653468
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0653468
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02286786
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02288692
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt017186
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01613 SPARTA ROAD
IRS990/USAddress/CityNm0NORTH WILKESBORO
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028659
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0MULFAIRWATER.RURALWATERUSA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATT LEDFORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03366702410
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-08

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