Civic Intelligence

Bucksport Water System Inc

990 • Fiscal year 2018 • EIN 57-0809787

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 30, 2019

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

63rd percentile

0.46x

Higher debt load relative to assets than 63% of similar nonprofits.

2018 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

2.51x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2018

Net Margin

63rd percentile

11%

Higher net margin than 63% of similar nonprofits.

2018 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$94,296

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2018 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2018

Asset Growth

38th percentile

0.4%

Faster asset growth than 38% of similar nonprofits.

2018 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

3rd percentile

-17%

Faster revenue growth than 3% of similar nonprofits.

2018 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$11,163,494

Up $45,984 (+0.4%) from 2017

Net Assets

Up

$6,081,438

Up $221,915 (+3.8%) from 2017

Liabilities

Down

$5,082,056

Down $175,931 (-3.3%) from 2017

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin63rd percentile

Revenue

Down

$2,028,684

Down $430,000 (-17%) from 2017

Expenses

Down

$1,806,769

Down $50,457 (-2.7%) from 2017

Net Income

Down

$221,915

Down $379,543 (-63%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2018

Assets$11,163,494
Liabilities$5,082,056
Net Assets$6,081,438
Open 2018 Filing

Operations Trend

Revenue Growth3rd 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

2018

Revenue$2,028,684
Expenses$1,806,769
Net Income$221,915
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 30, 2019
Return Version
2018v3.1
Gross Receipts
$2,028,684
Mission and Program Overview

Mission

Provide public water to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,277,326$6,980,386▼ $296,940
Cash and Non-Interest-Bearing Accounts$3,375,539$3,777,501▲ $401,962
Accounts Receivable$145,206$155,347▲ $10,141
Inventories for Sale or Use$59,742$69,617▲ $9,875
Total Assets$11,117,510$11,163,494▲ $45,984
Other Assets Total$259,697$180,643▼ $79,054
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,967,991$3,820,569▼ $147,422
Other Liabilities$1,098,087$1,051,426▼ $46,661
Accounts Payable and Accrued Expenses$191,909$210,061▲ $18,152
Total Liabilities$5,257,987$5,082,056▼ $175,931
Net Assets / Fund Balance
Temporarily Rstr Net Assets$5,859,523$6,081,438▲ $221,915
Total Net Assets Fund Balance$5,859,523$6,081,438▲ $221,915
Total Liabilities and Net Assets / Fund Balance$11,117,510$11,163,494▲ $45,984

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,137,848$8,294,742$14,432,590
Equipment$461,740-$461,740
Buildings$238,277-$238,277
Land$142,521-$142,521
Other Assets Org$3,369--
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Keith M CollinsGeneral ManagerFT$94,296$94,296

Board Members and Trustees

NameTitle
Zack DusenburyPresident
Ricky TinsdallSecretary
Mark SingletonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,981,879
Investment Income
$8,080
Other Revenue
$38,725
Change in Net Assets
$221,915

Audited Revenue Reconciliation

Revenue per Audited Statements
$208,684
Total Revenue per Audited Statements
$208,684
Total Revenue per Form 990
$208,684
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,306,239
Salaries, Compensation, and Employee Benefits$500,530
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$441,645$14,917-$456,562
Other Salaries and Wages$228,838$190,962-$419,800
Insurance$167,252--$167,252
Interest$136,622--$136,622
Other Employee Benefits$29,520$19,096-$48,616
Payroll Taxes$16,837$15,277-$32,114
Fees for Services Accounting-$26,500-$26,500
Fees for Services Legal-$24,000-$24,000
Other Expenses$21,300$30,542-$21,300
Fees for Services Other$7,020--$7,020
Total Functional Expenses$1,485,475$321,294$0$1,806,769

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,806,769
Total Expenses per Audited Statements$1,806,769
Total Expenses per Form 990$1,806,769
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
Net Pension Liabilty$951,650
Deferred Inflow of Resources$99,776
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
2019-10-30
Discuss with paid preparer
No

Organization Details

Principal Officer
Mark Singleton
Formed
1968
Legal Domicile
Sc
Voting Board Members
10
Independent Board Members
10
Employees
11

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 Appendix366 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0951650
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt199776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILTY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOW OF RESOURCES
IRS990ScheduleD/RevenueSubtotalAmt0208684
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06980386
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0180643
IRS990ScheduleD/TotalExpensesPerForm990Amt01806769
IRS990ScheduleD/TotalLiabilityAmt01051426
IRS990ScheduleD/TotalRevenuePerForm990Amt0208684
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0208684
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01806769
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt011163494
IRS990/TotalAssetsGrp/BOYAmt011117510
IRS990/TotalAssetsGrp/EOYAmt011163494
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0321294
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01485475
IRS990/TotalFunctionalExpensesGrp/TotalAmt01806769
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05257987
IRS990/TotalLiabilitiesEOYAmt05082056
IRS990/TotalLiabilitiesGrp/BOYAmt05257987
IRS990/TotalLiabilitiesGrp/EOYAmt05082056
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05859523
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06081438
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01485475
IRS990/TotalProgramServiceRevenueAmt01981879
IRS990/TotalReportableCompFromOrgAmt094296
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02028684
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02028684
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011117510
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011163494
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05470 REBA ROAD
IRS990/USAddress/CityNm0Conway
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029527
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0KEITH M COLLINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum08432483195
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BUCKSPORT WATER SYSTEM INC
ReturnHeader/Filer/BusinessNameControlTxt0BUCK
ReturnHeader/Filer/EIN0570809787
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 1032
ReturnHeader/Filer/USAddress/CityNm0Conway
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-11-06
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0198.29.56.54
ReturnHeader/FilingSecurityInformation/IPDt02019-11-06
ReturnHeader/FilingSecurityInformation/IPTm010:10:22
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0571058387
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAVID G LEWIS CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01301 THIRD AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Conway
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029526
ReturnHeader/PreparerPersonGrp/PhoneNum08432483100
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID G LEWIS
ReturnHeader/ReturnTs02019-11-01T10:02:00-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,163,494
Liabilities
$5,082,056
Net assets
$6,081,438
Revenue
$2,028,684
Expenses
$1,806,769
Net income
$221,915
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