Civic Intelligence

Bucksport Water System Inc

990 • Fiscal year 2016 • EIN 57-0809787

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 19, 2017

Organization Profile

View Organization Page

P O Box 1032Conway, SC 29528-1032

(843) 248-3195

Siviq Scores

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

Liabilities / Assets

68th percentile

0.50x

Higher debt load relative to assets than 68% of similar nonprofits.

2016 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

72nd percentile

2.63x

Higher debt load relative to revenue than 72% of similar nonprofits.

2016 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2016

Net Margin

61st percentile

9.4%

Higher net margin than 61% of similar nonprofits.

2016 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2016 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2016

Asset Growth

58th percentile

2.5%

Faster asset growth than 58% of similar nonprofits.

2016 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

81st percentile

14%

Faster revenue growth than 81% of similar nonprofits.

2016 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$10,533,100

Up $252,841 (+2.5%) from 2015

Net Assets

Up

$5,290,425

Up $217,634 (+4.3%) from 2015

Liabilities

Up

$5,242,675

Up $35,207 (+0.7%) from 2015

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin61st percentile

Revenue

Up

$1,992,953

Up $250,245 (+14%) from 2015

Expenses

Up

$1,804,847

Up $205,938 (+13%) from 2015

Net Income

Up

$188,106

Up $44,307 (+31%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$30M$20M$10M$0Assets 2010: $7,639,550Liabilities 2010: $2,291,399Net Assets 2010: $5,348,1512010Assets 2011: $7,581,596Liabilities 2011: $2,166,204Net Assets 2011: $5,415,3922011Assets 2012: $7,531,178Liabilities 2012: $2,114,021Net Assets 2012: $5,417,1572012Assets 2013: $7,759,389Liabilities 2013: $2,216,317Net Assets 2013: $5,543,0722013Assets 2014: $9,167,129Liabilities 2014: $3,513,831Net Assets 2014: $5,653,2982014Assets 2015: $10,280,259Liabilities 2015: $5,207,468Net Assets 2015: $5,072,7912015Assets 2016: $10,533,100Liabilities 2016: $5,242,675Net Assets 2016: $5,290,4252016Assets 2017: $11,117,510Liabilities 2017: $5,257,987Net Assets 2017: $5,859,5232017Assets 2018: $11,163,494Liabilities 2018: $5,082,056Net Assets 2018: $6,081,4382018Assets 2019: $11,418,124Liabilities 2019: $4,965,831Net Assets 2019: $6,452,2932019Assets 2020: $14,939,886Liabilities 2020: $7,710,637Net Assets 2020: $7,229,2492020Assets 2021: $17,896,855Liabilities 2021: $9,919,035Net Assets 2021: $7,977,8202021Assets 2022: $19,321,017Liabilities 2022: $9,536,936Net Assets 2022: $9,784,0812022Assets 2023: $21,831,503Liabilities 2023: $9,773,920Net Assets 2023: $12,057,5832023Assets 2024: $24,165,319Liabilities 2024: $9,362,853Net Assets 2024: $14,802,4662024

Highlighted filing

2016

Assets$10,533,100
Liabilities$5,242,675
Net Assets$5,290,425
Open 2016 Filing

Operations Trend

Revenue Growth81st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $1,298,3122010Expenses 2011: $1,363,6242011Expenses 2012: $1,460,6242012Revenue 2013: $1,545,506Expenses 2013: $1,419,590Net Income 2013: $125,9162013Revenue 2014: $1,638,807Expenses 2014: $1,528,581Net Income 2014: $110,2262014Revenue 2015: $1,742,708Expenses 2015: $1,598,909Net Income 2015: $143,7992015Revenue 2016: $1,992,953Expenses 2016: $1,804,847Net Income 2016: $188,1062016Revenue 2017: $2,458,684Expenses 2017: $1,857,226Net Income 2017: $601,4582017Revenue 2018: $2,028,684Expenses 2018: $1,806,769Net Income 2018: $221,9152018Revenue 2019: $2,398,254Expenses 2019: $2,027,399Net Income 2019: $370,8552019Revenue 2020: $2,903,605Expenses 2020: $2,126,649Net Income 2020: $776,9562020Revenue 2021: $3,096,455Expenses 2021: $2,347,884Net Income 2021: $748,5712021Revenue 2022: $4,245,396Expenses 2022: $2,439,135Net Income 2022: $1,806,2612022Revenue 2023: $5,094,357Expenses 2023: $2,820,855Net Income 2023: $2,273,5022023Revenue 2024: $6,014,486Expenses 2024: $3,269,603Net Income 2024: $2,744,8832024

Highlighted filing

2016

Revenue$1,992,953
Expenses$1,804,847
Net Income$188,106
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 19, 2017
Return Version
2016v3.0
Gross Receipts
$1,992,953
Mission and Program Overview

Mission

Provide public water to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,800,124$6,792,465▼ $7,659
Cash and Non-Interest-Bearing Accounts$2,932,019$3,169,216▲ $237,197
Prepaid Expenses and Deferred Charges$15,567$153,402▲ $137,835
Accounts Receivable$134,014$144,206▲ $10,192
Inventories for Sale or Use$35,690$50,824▲ $15,134
Total Assets$10,280,259$10,533,100▲ $252,841
Other Assets Total$362,845$222,987▼ $139,858
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,885,851$4,853,875▼ $31,976
Accounts Payable and Accrued Expenses$321,617$388,800▲ $67,183
Total Liabilities$5,207,468$5,242,675▲ $35,207
Net Assets / Fund Balance
Temporarily Rstr Net Assets$5,050,294$5,267,928▲ $217,634
Unrestricted Net Assets$22,497$22,497→ $0
Total Net Assets Fund Balance$5,072,791$5,290,425▲ $217,634
Total Liabilities and Net Assets / Fund Balance$10,280,259$10,533,100▲ $252,841

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$5,887,611$7,460,054$13,347,665
Equipment$479,298-$479,298
Buildings$238,277-$238,277
Land$187,279-$187,279
Other Assets Org$2,699--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Zack DusenburyPresident
Keith M CollinsGeneral Manager
Ricky TinsdallSecretary
Eddie AndersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$132,138
Program Service Revenue
$1,816,843
Investment Income
$2,731
Other Revenue
$41,241
Change in Net Assets
$188,106

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,992,953
Total Revenue per Audited Statements
$1,992,953
Total Revenue per Form 990
$1,992,953
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,320,852
Salaries, Compensation, and Employee Benefits$483,995
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$450,590$768-$451,358
Other Salaries and Wages$245,219$170,791-$416,010
Interest$141,483--$141,483
Pension Plan Contributions$21,316$14,846-$36,162
Payroll Taxes$18,758$13,065-$31,823
Fees for Services Accounting-$29,550-$29,550
Fees for Services Legal-$26,825-$26,825
Other Expenses$500,821$21,150-$21,150
Total Functional Expenses$1,527,852$276,995$0$1,804,847

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,804,847
Total Expenses per Audited Statements$1,804,847
Total Expenses per Form 990$1,804,847
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“Bucksport Water System Inc provides water to its members When a person or entity signs up and purchases a Water Tap they become a voting member of the system”

Member election for additional members Part VI line 7A

“Annual meeting is held every March There are 5 Districts within the System and each district has two(2) Board Members that are elected by the Members. The directors serve 2 year terms and 1 director is elected each year from each district”

Governing body meeting documentation Part VI line 8A

“All Documents are available at 4208 Fourth Avenue Conway South Carolina 29526 between the hours of 8am and 5pm Monday thru Friday”

Form 990 governing body review Part VI line 11

“The 990 is presented and approved by the Board of Directors and in their monthly meeting NO REVIEW WILL BE CONDUCTED”

Conflict of interest policy compliance Part VI line 12C

“Corporation adapted a conflect of interest policy in June 2009 at the Board of Directors Meeting”

CEO executive director top management comp Part VI line 15A

“Each September a Financial Commettee reviews the Staff Job Discriptions and Wages based on the goals of the Corporation and the industry”

Other officer or key employee compensation Part VI line 15B

“Reviewed annually by and independent committee appointed by the board of diectors”

Governing documents etc available to public Part VI line 19

“All documents, tax returns and audited financial statements are available at home office 2809 4th avenue conway sc 29526 during business hours monday to thursday 7:30 am to 5:30 pm friday 8 am till noon”

Filing and Contact Details

Filer

Filer Name
Bucksport Water System Inc
EIN
57-0809787
Address
P O BOX 1032, Conway, SC 29528-1032

Signing Officer

Name
Keith M Collins
Title
General Manager
Phone
8432483195
Signed
2017-10-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eddie Anderson
Formed
1968
Legal Domicile
Sc
Voting Board Members
10
Independent Board Members
10
Employees
10

Preparer

Firm
David G Lewis CPA Pa
Address
1301 THIRD AVENUE, Conway, SC 29526
Preparer
David G Lewis
Phone
8432483100
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“ROUNDING ERROR”

Raw XML Appendix349 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/ExplanationTxt0Bucksport Water System Inc provides water to its members When a person or entity signs up and purchases a Water Tap they become a voting member of the system
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annual meeting is held every March There are 5 Districts within the System and each district has two(2) Board Members that are elected by the Members. The directors serve 2 year terms and 1 director is elected each year from each district
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All Documents are available at 4208 Fourth Avenue Conway South Carolina 29526 between the hours of 8am and 5pm Monday thru Friday
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The 990 is presented and approved by the Board of Directors and in their monthly meeting NO REVIEW WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Corporation adapted a conflect of interest policy in June 2009 at the Board of Directors Meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Each September a Financial Commettee reviews the Staff Job Discriptions and Wages based on the goals of the Corporation and the industry
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Reviewed annually by and independent committee appointed by the board of diectors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ALL DOCUMENTS, TAX RETURNS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT HOME OFFICE 2809 4TH AVENUE CONWAY SC 29526 DURING BUSINESS HOURS MONDAY TO THURSDAY 7:30 AM TO 5:30 PM FRIDAY 8 AM TILL NOON
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ROUNDING ERROR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing body meeting documentation Part VI line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BusinessOfficerGrp/PersonNm0KEITH M COLLINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-19
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ReturnHeader/FilingSecurityInformation/IPTm014:06:39
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01301 THIRD AVENUE
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ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,533,100
Liabilities
$5,242,675
Net assets
$5,290,425
Revenue
$1,992,953
Expenses
$1,804,847
Net income
$188,106
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.2$9.36$14.8$6.01$3.27$2.74
2023Detailed filing. Detailed filing data is available for this year.$21.8$9.77$12.1$5.09$2.82$2.27
2022Detailed filing. Detailed filing data is available for this year.$19.3$9.54$9.78$4.25$2.44$1.81
2021Detailed filing. Detailed filing data is available for this year.$17.9$9.92$7.98$3.10$2.35$0.75
2020Detailed filing. Detailed filing data is available for this year.$14.9$7.71$7.23$2.90$2.13$0.78
2019Detailed filing. Detailed filing data is available for this year.$11.4$4.97$6.45$2.40$2.03$0.37
2018Detailed filing. Detailed filing data is available for this year.$11.2$5.08$6.08$2.03$1.81$0.22
2017Detailed filing. Detailed filing data is available for this year.$11.1$5.26$5.86$2.46$1.86$0.60
2016Detailed filing. Detailed filing data is available for this year.$10.5$5.24$5.29$1.99$1.80$0.19
2015Detailed filing. Detailed filing data is available for this year.$10.3$5.21$5.07$1.74$1.60$0.14
2014Detailed filing. Detailed filing data is available for this year.$9.17$3.51$5.65$1.64$1.53$0.11
2013Detailed filing. Detailed filing data is available for this year.$7.76$2.22$5.54$1.55$1.42$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.53$2.11$5.42$1.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.58$2.17$5.42$1.36
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.64$2.29$5.35$1.30