Civic Intelligence

Icard Township Water Corporation

EIN 56-0904671 • 501(c)12 • Hildebran, NC

Profile

To provide water services for approximately 2,990 icard township residents.

PO Box 427Hildebran, NC 28637
Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

3rd percentile

0.00x

Higher debt load relative to revenue than 3% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2020

Net Margin

64th percentile

17%

Higher net margin than 64% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

78th percentile

$84,101

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

501(c)12 • $5M-$10M nonprofits • Source year 2020

Asset Growth

57th percentile

4.3%

Faster asset growth than 57% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

73rd percentile

18%

Faster revenue growth than 73% of similar nonprofits.

501(c)12 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$8,223,214

Up $336,198 (+4.3%) from 2019

Liabilities

Down

$1,310

Down $8,539 (-87%) from 2019

Net Assets

Up

$8,221,904

Up $344,737 (+4.4%) from 2019

Operations
Liabilities / Revenue3rd percentileNet Margin64th percentile

Revenue

Up

$2,004,778

Up $301,839 (+18%) from 2019

Expenses

Up

$1,660,041

Up $346,730 (+26%) from 2019

Net Income

Down

$344,737

Down $44,891 (-12%) from 2019

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

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

$10M$5.0M$0Assets 2012: $5,316,417Liabilities 2012: $53,857Net Assets 2012: $5,262,5602012Assets 2013: $5,847,083Liabilities 2013: $262,047Net Assets 2013: $5,585,0362013Assets 2014: $5,955,688Liabilities 2014: $40,536Net Assets 2014: $5,915,1522014Assets 2015: $6,442,671Liabilities 2015: $91,680Net Assets 2015: $6,350,9912015Assets 2016: $6,940,196Liabilities 2016: $113,253Net Assets 2016: $6,826,9432016Assets 2017: $7,267,245Liabilities 2017: $98,969Net Assets 2017: $7,168,2762017Assets 2018: $7,519,427Liabilities 2018: $31,888Net Assets 2018: $7,487,5392018Assets 2019: $7,887,016Liabilities 2019: $9,849Net Assets 2019: $7,877,1672019Assets 2020: $8,223,214Liabilities 2020: $1,310Net Assets 2020: $8,221,9042020

Highlighted filing

2020

Assets$8,223,214
Liabilities$1,310
Net Assets$8,221,904
Open 2020 Filing

Operations Trend

Revenue Growth73rd percentile

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

$3.0M$2.0M$1.0M$0Revenue 2012: $1,478,549Expenses 2012: $1,238,916Net Income 2012: $239,6332012Expenses 2013: $1,161,7562013Revenue 2014: $1,559,247Expenses 2014: $1,229,131Net Income 2014: $330,1162014Revenue 2015: $1,545,610Expenses 2015: $1,109,771Net Income 2015: $435,8392015Revenue 2016: $1,671,129Expenses 2016: $1,195,177Net Income 2016: $475,9522016Revenue 2017: $1,575,789Expenses 2017: $1,234,456Net Income 2017: $341,3332017Revenue 2018: $1,723,598Expenses 2018: $1,404,335Net Income 2018: $319,2632018Revenue 2019: $1,702,939Expenses 2019: $1,313,311Net Income 2019: $389,6282019Revenue 2020: $2,004,778Expenses 2020: $1,660,041Net Income 2020: $344,7372020

Highlighted filing

2020

Revenue$2,004,778
Expenses$1,660,041
Net Income$344,737
Open 2020 Filing

Filings

Most recent year

2020 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$8,223,214
Liabilities
$1,310
Net assets
$8,221,904
Revenue
$2,004,778
Expenses
$1,660,041
Net income
$344,737
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.22$0.00$8.22$2.00$1.66$0.34
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.89$0.01$7.88$1.70$1.31$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.52$0.03$7.49$1.72$1.40$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.27$0.10$7.17$1.58$1.23$0.34
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.94$0.11$6.83$1.67$1.20$0.48
2015Detailed filing. Detailed filing data is available for this year.$6.44$0.09$6.35$1.55$1.11$0.44
2014Detailed filing. Detailed filing data is available for this year.$5.96$0.04$5.92$1.56$1.23$0.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.85$0.26$5.59$1.16
2012Summary only. Only limited summary data is available for this year.$5.32$0.05$5.26$1.48$1.24$0.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Jan 21, 2021
Return Version
2019v5.1
Gross Receipts
$2,004,778
Mission and Program Overview

Mission

To provide water services for approximately 3,350 icard township residents.

To provide water services for approximately 3,330 icard township residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,667,909$5,173,462▲ $505,553
Land, Buildings, and Equipment, Net$2,824,614$2,739,546▼ $85,068
Cash and Non-Interest-Bearing Accounts$216,132$143,643▼ $72,489
Accounts Receivable$146,699$133,530▼ $13,169
Inventories for Sale or Use$31,662$33,033▲ $1,371
Total Assets$7,887,016$8,223,214▲ $336,198
Liabilities
Accounts Payable and Accrued Expenses$9,849$1,310▼ $8,539
Total Liabilities$9,849$1,310▼ $8,539
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,877,167$8,221,904▲ $344,737
Total Net Assets Fund Balance$7,877,167$8,221,904▲ $344,737
Total Liabilities and Net Assets / Fund Balance$7,887,016$8,223,214▲ $336,198

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,214,626$3,790,467$6,005,093
Buildings$323,601$283,257$555,649
Land$180,082-$180,082
Other Land Buildings$21,237$134,034$155,271
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jonathan R PonsManagerFT$84,101$84,101
James GorsuchPresidentPT$37,100$37,100

Board Members and Trustees

NameTitle
Larry MartinVice-president
Bill ChapmanDirector
Brand LingerfeltDirector
David HartmannDirector
Frank SouthersDirector
Leon LedfordDirector
Leonard WattsDirector
Steve SmartDirector
Kermit HolshouserSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,950,847
Investment Income
$47,136
Other Revenue
$6,795
Change in Net Assets
$344,737
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,227,404
Salaries, Compensation, and Employee Benefits$432,637
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$214,909--$214,909
Depreciation Depletion$199,952--$199,952
Current Officers, Directors, Trustees, and Key Employees$84,101$37,100-$121,201
All Other Expenses$60,423--$60,423
Payroll Taxes$43,129$5,351-$48,480
Other Employee Benefits$48,047--$48,047
Office Expenses$40,746$860-$41,606
Information Technology$37,473--$37,473
Insurance$31,535--$31,535
Occupancy$15,900--$15,900
Other Expenses$11,685$10,756-$11,685
Fees for Services Accounting$7,116$3,000-$10,116
Travel$1,848--$1,848
Total Functional Expenses$1,602,974$57,067$0$1,660,041
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
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
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
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, Part VI, Section A, Line 6

“Customers that connect to the water system must become a member of the water corporation and pay one-time membership dues.”

Form 990, Part VI, Section B, Line 11A 11B

“At the first board meeting following the preparation of the form 990, a copy of the form 990 is available for reivew by all board members to review. The president and the manager of the organization review the form 990 prior to filing.”

Form 990, Part VI, Section C, Line 19

“The governing documents, form 990 and financial statements are available at the main office upon request and annual meeting is advertised in the local newspaper once each year.”

Filing and Contact Details

Filer

Filer Name
Icard Township Water Corp
EIN
56-0904671
Phone
8283976294
Address
PO BOX 427, HILDEBRAN, NC 28637

Signing Officer

Name
Jim Gorsuch
Title
President
Signed
2021-01-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Gorsuch
Formed
1966
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
8

Preparer

Firm
Michael W Shell CPA Pc
Address
PO BOX 634, HILDEBRAN, NC 28637-0634
Preparer
Michael W Shell
Phone
8283975471
Raw XML AppendixShowing 400 of 403 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/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt048047
IRS990/OtherEmployeeBenefitsGrp/TotalAmt048047
IRS990/OtherExpensesGrp/Desc0WATER PURCH/TESTNG/SUPPLIE
IRS990/OtherExpensesGrp/Desc1GAS/OIL/FUEL/MAINT/SMALL TOOLS/TRUCKS/UNIFORMS
IRS990/OtherExpensesGrp/Desc2MEMBERSHIP REFUNDS
IRS990/OtherExpensesGrp/Desc3MERCHANT/BANK FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010756
IRS990/OtherExpensesGrp/ProgramServicesAmt0780774
IRS990/OtherExpensesGrp/ProgramServicesAmt114566
IRS990/OtherExpensesGrp/ProgramServicesAmt210770
IRS990/OtherExpensesGrp/ProgramServicesAmt311685
IRS990/OtherExpensesGrp/TotalAmt0791530
IRS990/OtherExpensesGrp/TotalAmt114566
IRS990/OtherExpensesGrp/TotalAmt210770
IRS990/OtherExpensesGrp/TotalAmt311685
IRS990/OtherRevenueMiscGrp/Desc0PERSONAL USE OF CAR
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0795
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0795
IRS990/OtherRevenueTotalAmt0795
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0214909
IRS990/OtherSalariesAndWagesGrp/TotalAmt0214909
IRS990/OtherSourcesGrossIncomeAmt06795
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05351
IRS990/PayrollTaxesGrp/ProgramServicesAmt043129
IRS990/PayrollTaxesGrp/TotalAmt048480
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0JAMES GORSUCH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0WATER REVENUE-MEMBERS
IRS990/ProgramServiceRevenueGrp/Desc1SPRINKLER/TAP/LATE/CUT-ON REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01875135
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt175712
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01875135
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt175712
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt028981
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0911207
IRS990/PYOtherRevenueAmt06295
IRS990/PYProgramServiceRevenueAmt01667663
IRS990/PYRevenuesLessExpensesAmt0389628
IRS990/PYSalariesCompEmpBnftPaidAmt0402104
IRS990/PYTotalExpensesAmt01313311
IRS990/PYTotalRevenueAmt01702939
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0344737
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt06000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01957642
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04667909
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05173462
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0323601
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0283257
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt051209
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0555649
IRS990ScheduleD/EquipmentGrp/BookValueAmt02214626
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03790467
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06005093
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0180082
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0180082
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt021237
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0134034
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0155271
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02739546
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CUSTOMERS THAT CONNECT TO THE WATER SYSTEM MUST BECOME A MEMBER OF THE WATER CORPORATION AND PAY ONE-TIME MEMBERSHIP DUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE FIRST BOARD MEETING FOLLOWING THE PREPARATION OF THE FORM 990, A COPY OF THE FORM 990 IS AVAILABLE FOR REIVEW BY ALL BOARD MEMBERS TO REVIEW. THE PRESIDENT AND THE MANAGER OF THE ORGANIZATION REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE MAIN OFFICE UPON REQUEST AND ANNUAL MEETING IS ADVERTISED IN THE LOCAL NEWSPAPER ONCE EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11a 11b
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/TotalAssetsBOYAmt07887016
IRS990/TotalAssetsEOYAmt08223214
IRS990/TotalAssetsGrp/BOYAmt07887016
IRS990/TotalAssetsGrp/EOYAmt08223214
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt057067
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01602974
IRS990/TotalFunctionalExpensesGrp/TotalAmt01660041
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09849
IRS990/TotalLiabilitiesEOYAmt01310
IRS990/TotalLiabilitiesGrp/BOYAmt09849
IRS990/TotalLiabilitiesGrp/EOYAmt01310
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07877167
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08221904
IRS990/TotalProgramServiceExpensesAmt01602974
IRS990/TotalProgramServiceRevenueAmt01950847
IRS990/TotalReportableCompFromOrgAmt0121201
IRS990/TotalRevenueGrp/ExclusionAmt047136
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01957642
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02004778
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07887016
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08223214
IRS990/TravelGrp/ProgramServicesAmt01848
IRS990/TravelGrp/TotalAmt01848
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03274 POPLAR ST
IRS990/USAddress/CityNm0HILDEBRAN
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028637
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM GORSUCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ICARD TOWNSHIP WATER CORP
ReturnHeader/Filer/BusinessNameControlTxt0ICAR
ReturnHeader/Filer/EIN0560904671
ReturnHeader/Filer/PhoneNum08283976294
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 427
ReturnHeader/Filer/USAddress/CityNm0HILDEBRAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028637
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MICHAEL W SHELL CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 634
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HILDEBRAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0286370634
ReturnHeader/PreparerPersonGrp/PhoneNum08283975471
ReturnHeader/PreparerPersonGrp/PreparationDt02021-01-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL W SHELL
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-01-21T09:41:04-00:00
ReturnHeader/ReturnTypeCd0990

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