Civic Intelligence

Midway Water Systeminc

990 • Fiscal year 2014 • EIN 59-1532752

Oct 01, 2013 to Sep 30, 2014 • Filed on Jan 15, 2015

Organization ProfileMIDWAYWATER.COM

View Organization Page

4971 Gulf Breeze Parkway32561

(850) 932-5188

Siviq Scores

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

Liabilities / Assets

36th percentile

0.27x

Higher debt load relative to assets than 36% of similar nonprofits.

2014 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

46th percentile

1.27x

Higher debt load relative to revenue than 46% of similar nonprofits.

2014 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2014

Net Margin

82nd percentile

18%

Higher net margin than 82% of similar nonprofits.

2014 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

16th percentile

$0

Higher top officer pay than 16% of similar nonprofits.

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

2014 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2014

Asset Growth

45th percentile

0.5%

Faster asset growth than 45% of similar nonprofits.

2014 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$13,026,804

Up $61,754 (+0.5%) from 2013

Net Assets

Up

$9,562,234

Up $453,416 (+5.0%) from 2013

Liabilities

Down

$3,464,570

Down $391,662 (-10%) from 2013

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin82nd percentile

Revenue

$2,722,429

No earlier filing loaded for comparison.

Expenses

Up

$2,227,103

Up $157,726 (+7.6%) from 2013

Net Income

$495,326

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

$30M$20M$10M$0Assets 2011: $14,009,950Liabilities 2011: $4,369,363Net Assets 2011: $9,640,5872011Assets 2012: $12,600,616Liabilities 2012: $4,021,794Net Assets 2012: $8,578,8222012Assets 2013: $12,965,050Liabilities 2013: $3,856,232Net Assets 2013: $9,108,8182013Assets 2014: $13,026,804Liabilities 2014: $3,464,570Net Assets 2014: $9,562,2342014Assets 2015: $13,109,869Liabilities 2015: $3,178,231Net Assets 2015: $9,931,6382015Assets 2016: $13,397,464Liabilities 2016: $2,845,111Net Assets 2016: $10,552,3532016Assets 2017: $13,503,459Liabilities 2017: $2,524,791Net Assets 2017: $10,978,6682017Assets 2018: $13,975,129Liabilities 2018: $2,196,048Net Assets 2018: $11,779,0812018Assets 2019: $14,877,971Liabilities 2019: $2,053,387Net Assets 2019: $12,824,5842019Assets 2020: $16,714,962Liabilities 2020: $1,876,877Net Assets 2020: $14,838,0852020Assets 2021: $18,868,842Liabilities 2021: $1,737,569Net Assets 2021: $17,131,2732021Assets 2022: $19,707,568Liabilities 2022: $1,801,370Net Assets 2022: $17,906,1982022Assets 2023: $20,763,033Liabilities 2023: $1,457,557Net Assets 2023: $19,305,4762023

Highlighted filing

2014

Assets$13,026,804
Liabilities$3,464,570
Net Assets$9,562,234
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Expenses 2011: $1,921,5582011Expenses 2012: $1,939,9782012Expenses 2013: $2,069,3772013Revenue 2014: $2,722,429Expenses 2014: $2,227,103Net Income 2014: $495,3262014Revenue 2015: $2,836,065Expenses 2015: $2,366,626Net Income 2015: $469,4392015Revenue 2016: $2,830,741Expenses 2016: $2,466,186Net Income 2016: $364,5552016Revenue 2017: $2,997,006Expenses 2017: $2,743,186Net Income 2017: $253,8202017Revenue 2018: $3,242,123Expenses 2018: $2,632,972Net Income 2018: $609,1512018Revenue 2019: $3,402,770Expenses 2019: $2,642,251Net Income 2019: $760,5192019Revenue 2020: $4,124,762Expenses 2020: $2,883,721Net Income 2020: $1,241,0412020Revenue 2021: $4,356,576Expenses 2021: $2,962,779Net Income 2021: $1,393,7972021Revenue 2022: $4,197,002Expenses 2022: $3,227,370Net Income 2022: $969,6322022Revenue 2023: $4,515,431Expenses 2023: $3,251,935Net Income 2023: $1,263,4962023

Highlighted filing

2014

Revenue$2,722,429
Expenses$2,227,103
Net Income$495,326
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Jan 15, 2015
Return Version
2013v4.0
Gross Receipts
$2,722,429
Mission and Program Overview

Mission

To operate and maintain the local community's water service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,869,705$11,180,712▲ $311,007
Rtn Earn Endowment Incm Other Fnds$9,011,948$9,464,944▲ $452,996
Savings and Temporary Cash Investments$1,430,642$720,526▼ $710,116
Investments in Publicly Traded Securities-$431,638-
Accounts Receivable$213,623$239,898▲ $26,275
Cap Stk Tr Prin Current Funds$96,870$97,290▲ $420
Inventories for Sale or Use$71,612$82,653▲ $11,041
Prepaid Expenses and Deferred Charges$70,358$60,457▼ $9,901
Total Assets$12,965,050$13,026,804▲ $61,754
Other Assets Total$309,110$310,920▲ $1,810
Liabilities
Other Liabilities$3,731,630$3,412,587▼ $319,043
Deferred Revenue$31,800$32,753▲ $953
Accounts Payable and Accrued Expenses$92,802$19,230▼ $73,572
Total Liabilities$3,856,232$3,464,570▼ $391,662
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,108,818$9,562,234▲ $453,416
Total Liabilities and Net Assets / Fund Balance$12,965,050$13,026,804▲ $61,754

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,218,898$5,499,107$13,718,005
Buildings$1,401,442$442,131$1,843,573
Other Land Buildings$1,278,343-$1,278,343
Land$282,029-$282,029
Compensation and Service Providers
Top Officer Pay16th percentile

Board Members and Trustees

NameTitle
John GrantPresident
Don RadomskiDirector
Ken GriffinDirector
Paul WomackDirector
Bill LeeSecretary
Tom KurtzTreasurer
Jonathan ArneaultVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,714,233
Investment Income
$8,196
Other Revenue
$0
Change in Net Assets
$495,326

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,722,429
Total Revenue per Audited Statements
$2,722,429
Total Revenue per Form 990
$2,722,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,272,741
Salaries, Compensation, and Employee Benefits$954,362
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$744,816
Other Salaries and Wages---$655,728
Depreciation Depletion---$235,785
Other Employee Benefits---$208,484
Insurance---$98,104
Interest---$86,577
Travel---$50,929
Payroll Taxes---$50,035
Pension Plan Contributions---$40,115
Fees for Services Accounting---$30,424
Office Expenses---$26,106
Total Functional Expenses$0$0$0$2,227,103

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,227,103
Total Expenses per Audited Statements$2,227,103
Total Expenses per Form 990$2,227,103
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
Florida State Revolving Fund$2,393,056
Note Payable Bank of Pensacola$766,295
Member Deposits$204,133
Other Current Liabilities$49,103
Note Payable Bank-
Compensated Absences-
Short-term Financing-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

Form 990, Page 6, Part VI, Line 7A

“Members elect board of directors annually”

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

“Accountant reviews with general manager, office manager, and treasurer. Treasurer presents to board.”

Form 990, Page 6, Part VI, Line 12C

“Board reviews all actual and potential conflicts. Board approval needed for any transaction that may be a conflict.”

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

“Board reviews and approves salary for general manager.”

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

“General manager recommends pay rates for all other employees. Those recommendations subject to board approval.”

Form 990, Page 6, Part VI, Line 19

“Available at midway office upon request”

Filing and Contact Details

Filer

EIN
59-1532752
Phone
8509325188

Signing Officer

Name
Bobby Cooley
Title
General Manager
Phone
8509325188
Signed
2015-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bobby Cooley
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
16

Preparer

Preparer
Dan Spata
Phone
8509959909
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Bad debt 9,907 0 0 field supplies 0 0 0 dues and subscriptions 4,105 0 0 fairpoint expenses 143,840 0 0 chemicals 13,840 0 0 other expenses 0 0 0 postage 27,597 0 0 repairs and maintenance 385,790 0 0 engineering fees 7,225 0 0 utilities 82,900 0 0 water analysis 15,415 0 0 expendable tools 12,300 0 0 education 4,111 0 0 janitorial 2,986 0 0 telephone 11,445 0 0 water conservation program 2,608 0 0 miscellaneous expense 20,747 0 0”

Form 990, Part XI, Line 9

“Increase in membership fees 420 net decrease contributions in aid of construction 42,330 reclassification of prior year construction in pro 0”

Raw XML Appendix344 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/TotalLiabilityAmt03412587
IRS990ScheduleD/TotalRevenuePerForm990Amt02722429
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02722429
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02227103
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS ELECT BOARD OF DIRECTORS ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACCOUNTANT REVIEWS WITH GENERAL MANAGER, OFFICE MANAGER, AND TREASURER. TREASURER PRESENTS TO BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD REVIEWS ALL ACTUAL AND POTENTIAL CONFLICTS. BOARD APPROVAL NEEDED FOR ANY TRANSACTION THAT MAY BE A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD REVIEWS AND APPROVES SALARY FOR GENERAL MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GENERAL MANAGER RECOMMENDS PAY RATES FOR ALL OTHER EMPLOYEES. THOSE RECOMMENDATIONS SUBJECT TO BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE AT MIDWAY OFFICE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BAD DEBT 9,907 0 0 FIELD SUPPLIES 0 0 0 DUES AND SUBSCRIPTIONS 4,105 0 0 FAIRPOINT EXPENSES 143,840 0 0 CHEMICALS 13,840 0 0 OTHER EXPENSES 0 0 0 POSTAGE 27,597 0 0 REPAIRS AND MAINTENANCE 385,790 0 0 ENGINEERING FEES 7,225 0 0 UTILITIES 82,900 0 0 WATER ANALYSIS 15,415 0 0 EXPENDABLE TOOLS 12,300 0 0 EDUCATION 4,111 0 0 JANITORIAL 2,986 0 0 TELEPHONE 11,445 0 0 WATER CONSERVATION PROGRAM 2,608 0 0 MISCELLANEOUS EXPENSE 20,747 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7INCREASE IN MEMBERSHIP FEES 420 NET DECREASE CONTRIBUTIONS IN AID OF CONSTRUCTION 42,330 RECLASSIFICATION OF PRIOR YEAR CONSTRUCTION IN PRO 0
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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012965050
IRS990/TotalAssetsEOYAmt013026804
IRS990/TotalAssetsGrp/BOYAmt012965050
IRS990/TotalAssetsGrp/EOYAmt013026804
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02227103
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03856232
IRS990/TotalLiabilitiesEOYAmt03464570
IRS990/TotalLiabilitiesGrp/BOYAmt03856232
IRS990/TotalLiabilitiesGrp/EOYAmt03464570
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09108818
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09562234
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt05830
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt05830
IRS990/TotalProgramServiceRevenueAmt02714233
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02722429
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02722429
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012965050
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013026804
IRS990/TravelGrp/TotalAmt050929
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine104971 GULF BREEZE PARKWAY
IRS990/USAddress/City0GULF BREEZE PARKWAY
IRS990/USAddress/State0FL
IRS990/USAddress/ZIPCode032563
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0MIDWAYWATER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BOBBY COOLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum08509325188
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-15
ReturnHeader/Filer/BusinessName/BusinessNameLine10MIDWAY WATER SYSTEMINC
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0591532752
ReturnHeader/Filer/PhoneNum08509325188
ReturnHeader/Filer/USAddress/AddressLine104971 GULF BREEZE PARKWAY
ReturnHeader/Filer/USAddress/City0GULF BREEZE
ReturnHeader/Filer/USAddress/State0FL
ReturnHeader/Filer/USAddress/ZIPCode032561
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593098304
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10DAN SPATA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine105743 QUINTETTE RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0PACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode032571
ReturnHeader/PreparerPersonGrp/PhoneNum08509959909
ReturnHeader/PreparerPersonGrp/PreparationDt02015-01-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAN SPATA
ReturnHeader/ReturnTs02015-01-23T09:37:50-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-10-01
ReturnHeader/TaxPeriodEndDt02014-09-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,026,804
Liabilities
$3,464,570
Net assets
$9,562,234
Revenue
$2,722,429
Expenses
$2,227,103
Net income
$495,326
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$20.8$1.46$19.3$4.52$3.25$1.26
2022Summary only. Only limited summary data is available for this year.$19.7$1.80$17.9$4.20$3.23$0.97
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.9$1.74$17.1$4.36$2.96$1.39
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.7$1.88$14.8$4.12$2.88$1.24
2019Summary only. Only limited summary data is available for this year.$14.9$2.05$12.8$3.40$2.64$0.76
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$2.20$11.8$3.24$2.63$0.61
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.5$2.52$11.0$3.00$2.74$0.25
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.4$2.85$10.6$2.83$2.47$0.36
2015Detailed filing. Detailed filing data is available for this year.$13.1$3.18$9.93$2.84$2.37$0.47
2014Detailed filing. Detailed filing data is available for this year.$13.0$3.46$9.56$2.72$2.23$0.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$3.86$9.11$2.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$4.02$8.58$1.94
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$4.37$9.64$1.92
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)12 • $10M-$25M nonprofits