Civic Intelligence

South Mills Water Association Inc

EIN 56-0889942 • 501(c)12 • South Mills, NC

Profile

The association provides a water system for its members.

PO Box 279South Mills, NC 27976
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

41st percentile

0.00x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)12 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.00x

Higher debt load relative to revenue than 38% of similar nonprofits.

501(c)12 • <$500k nonprofits • Source year 2024

Net Margin

4th percentile

-108%

Higher net margin than 4% of similar nonprofits.

501(c)12 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

501(c)12 • <$500k nonprofits • Source year 2024

Asset Growth

8th percentile

-98%

Faster asset growth than 8% of similar nonprofits.

501(c)12 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-62%

Faster revenue growth than 7% of similar nonprofits.

501(c)12 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$90,321

Down $4,674,005 (-98%) from 2023

Liabilities

Down

$171

Down $63,642 (-100%) from 2023

Net Assets

Down

$90,150

Down $4,610,363 (-98%) from 2023

Operations
Liabilities / Revenue38th percentileNet Margin4th percentile

Revenue

Down

$438,465

Down $724,190 (-62%) from 2023

Expenses

Down

$912,414

Down $475,941 (-34%) from 2023

Net Income

Down

-$473,949

Down $248,249 (-110%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth8th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $6,489,735Liabilities 2011: $2,823,873Net Assets 2011: $3,665,8622011Assets 2012: $6,424,619Liabilities 2012: $2,780,804Net Assets 2012: $3,643,8152012Assets 2013: $6,500,880Liabilities 2013: $2,740,769Net Assets 2013: $3,760,1112013Assets 2014: $6,428,543Liabilities 2014: $2,707,477Net Assets 2014: $3,721,0662014Assets 2015: $6,409,703Liabilities 2015: $2,679,917Net Assets 2015: $3,729,7862015Assets 2016: $6,374,045Liabilities 2016: $2,611,884Net Assets 2016: $3,762,1612016Assets 2017: $6,776,706Liabilities 2017: $2,561,055Net Assets 2017: $4,215,6512017Assets 2018: $6,740,709Liabilities 2018: $2,512,786Net Assets 2018: $4,227,9232018Assets 2019: $6,594,114Liabilities 2019: $2,482,217Net Assets 2019: $4,111,8972019Assets 2020: $6,287,200Liabilities 2020: $2,493,054Net Assets 2020: $3,794,1462020Assets 2021: $6,358,102Liabilities 2021: $1,202,187Net Assets 2021: $5,155,9152021Assets 2022: $6,002,410Liabilities 2022: $1,076,197Net Assets 2022: $4,926,2132022Assets 2023: $4,764,326Liabilities 2023: $63,813Net Assets 2023: $4,700,5132023Assets 2024: $90,321Liabilities 2024: $171Net Assets 2024: $90,1502024

Highlighted filing

2024

Assets$90,321
Liabilities$171
Net Assets$90,150
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $952,6542011Expenses 2012: $911,6192012Revenue 2013: $985,618Expenses 2013: $869,322Net Income 2013: $116,2962013Revenue 2014: $885,304Expenses 2014: $924,349Net Income 2014: -$39,0452014Revenue 2015: $1,004,738Expenses 2015: $996,018Net Income 2015: $8,7202015Revenue 2016: $987,134Expenses 2016: $954,759Net Income 2016: $32,3752016Revenue 2017: $1,489,794Expenses 2017: $1,036,304Net Income 2017: $453,4902017Revenue 2018: $1,140,275Expenses 2018: $1,128,003Net Income 2018: $12,2722018Revenue 2019: $1,160,680Expenses 2019: $1,276,706Net Income 2019: -$116,0262019Revenue 2020: $1,104,964Expenses 2020: $1,422,715Net Income 2020: -$317,7512020Revenue 2021: $2,799,403Expenses 2021: $1,437,634Net Income 2021: $1,361,7692021Revenue 2022: $1,191,340Expenses 2022: $1,421,042Net Income 2022: -$229,7022022Revenue 2023: $1,162,655Expenses 2023: $1,388,355Net Income 2023: -$225,7002023Revenue 2024: $438,465Expenses 2024: $912,414Net Income 2024: -$473,9492024

Highlighted filing

2024

Revenue$438,465
Expenses$912,414
Net Income-$473,949
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$90,321
Liabilities
$171
Net assets
$90,150
Revenue
$438,465
Expenses
$912,414
Net income
-$473,949
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.00$0.09$0.44$0.91$0.47
2023Detailed filing. Detailed filing data is available for this year.$4.76$0.06$4.70$1.16$1.39$0.23
2022Detailed filing. Detailed filing data is available for this year.$6.00$1.08$4.93$1.19$1.42$0.23
2021Detailed filing. Detailed filing data is available for this year.$6.36$1.20$5.16$2.80$1.44$1.36
2020Detailed filing. Detailed filing data is available for this year.$6.29$2.49$3.79$1.10$1.42$0.32
2019Detailed filing. Detailed filing data is available for this year.$6.59$2.48$4.11$1.16$1.28$0.12
2018Detailed filing. Detailed filing data is available for this year.$6.74$2.51$4.23$1.14$1.13$0.01
2017Detailed filing. Detailed filing data is available for this year.$6.78$2.56$4.22$1.49$1.04$0.45
2016Detailed filing. Detailed filing data is available for this year.$6.37$2.61$3.76$0.99$0.95$0.03
2015Detailed filing. Detailed filing data is available for this year.$6.41$2.68$3.73$1.00$1.00$0.01
2014Detailed filing. Detailed filing data is available for this year.$6.43$2.71$3.72$0.89$0.92$0.04
2013Detailed filing. Detailed filing data is available for this year.$6.50$2.74$3.76$0.99$0.87$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.42$2.78$3.64$0.91
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.49$2.82$3.67$0.95
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.0
Gross Receipts
$438,465
Mission and Program Overview

Mission

The association provides a water system for its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,813,096--
Cash and Non-Interest-Bearing Accounts$191,266$48,071▼ $143,195
Accounts Receivable$46,904--
Savings and Temporary Cash Investments$712,750$42,250▼ $670,500
Total Assets$4,764,326$90,321▼ $4,674,005
Other Assets Total$310--
Liabilities
Other Liabilities$27,990--
Accounts Payable and Accrued Expenses$35,823$171▼ $35,652
Total Liabilities$63,813$171▼ $63,642
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,700,513$90,150▼ $4,610,363
Total Net Assets Fund Balance$4,700,513$90,150▼ $4,610,363
Total Liabilities and Net Assets / Fund Balance$4,764,326$90,321▼ $4,674,005
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Adam RussellPresident
FREDDIE O'NEALDirector
Joseph ThompsonDirector
Michael AndrewsDirector
James BurnhamSecretary
Al BohnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$437,387
Investment Income
$1,078
Other Revenue
$0
Change in Net Assets
$-473,949
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$662,296
Salaries, Compensation, and Employee Benefits$250,118
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$121,534$101,367-$222,901
Depreciation Depletion$85,430--$85,430
Fees for Services Legal-$75,483-$75,483
All Other Expenses$26,588$8,526-$35,114
Other Expenses$24,453--$24,453
Insurance$21,255--$21,255
Payroll Taxes$9,499$7,815-$17,314
Office Expenses-$11,030-$11,030
Other Employee Benefits-$9,603-$9,603
Occupancy$2,726$6,000-$8,726
Fees for Services Other-$6,900-$6,900
Information Technology-$2,430-$2,430
Fees for Services Accounting-$435-$435
Pension Plan Contributions-$300-$300
Total Functional Expenses$682,525$229,889$0$912,414
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
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 4

“On june 21, 2024 the association transferred its remaining assets to camden county nc (a governmental entity)and this entity will continue to provide water utility services to customers of south mills water association.”

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

“Form 990 is reviewed by board of directors before it is filed.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
South Mills Water Association Inc
EIN
56-0889942
Phone
2527715620
Address
PO BOX 279, SOUTH MILLS, NC 27976

Signing Officer

Name
Adam Russell
Title
President
Phone
2527715620
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Russell
Formed
1964
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
4

Preparer

Firm
Dowdy & Osborne Llp
Address
PO BOX 9, NAGS HEAD, NC 27959
Preparer
Teresa Osborne
Phone
2524494404
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Transfer of assets to camden county -3,727,664 transfer of impact fees to camden county -408,750 total -4,136,414”

Raw XML Appendix303 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ON JUNE 21, 2024 THE ASSOCIATION TRANSFERRED ITS REMAINING ASSETS TO CAMDEN COUNTY NC (A GOVERNMENTAL ENTITY)AND THIS ENTITY WILL CONTINUE TO PROVIDE WATER UTILITY SERVICES TO CUSTOMERS OF SOUTH MILLS WATER ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY BOARD OF DIRECTORS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRANSFER OF ASSETS TO CAMDEN COUNTY -3,727,664 TRANSFER OF IMPACT FEES TO CAMDEN COUNTY -408,750 TOTAL -4,136,414
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 4
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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ReturnHeader/ReturnTs02025-11-13T14:52:53-05:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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