Civic Intelligence

Midway Water Systeminc

990 • Fiscal year 2015 • EIN 59-1532752

Oct 01, 2014 to Sep 30, 2015 • Filed on Feb 05, 2016

Organization ProfileMIDWAYWATER.COM

View Organization Page

4971 Gulf Breeze ParkwayGulf Breeze, FL 32561

(850) 932-5188

Siviq Scores

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

Liabilities / Assets

34th percentile

0.24x

Higher debt load relative to assets than 34% of similar nonprofits.

2015 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

42nd percentile

1.12x

Higher debt load relative to revenue than 42% of similar nonprofits.

2015 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2015

Net Margin

80th percentile

17%

Higher net margin than 80% of similar nonprofits.

2015 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

18th percentile

$0

Higher top officer pay than 18% of similar nonprofits.

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

2015 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2015

Asset Growth

44th percentile

0.6%

Faster asset growth than 44% of similar nonprofits.

2015 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

65th percentile

4.2%

Faster revenue growth than 65% of similar nonprofits.

2015 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$13,109,869

Up $83,065 (+0.6%) from 2014

Net Assets

Up

$9,931,638

Up $369,404 (+3.9%) from 2014

Liabilities

Down

$3,178,231

Down $286,339 (-8.3%) from 2014

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin80th percentile

Revenue

Up

$2,836,065

Up $113,636 (+4.2%) from 2014

Expenses

Up

$2,366,626

Up $139,523 (+6.3%) from 2014

Net Income

Down

$469,439

Down $25,887 (-5.2%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2015

Assets$13,109,869
Liabilities$3,178,231
Net Assets$9,931,638
Open 2015 Filing

Operations Trend

Revenue Growth65th percentile

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

2015

Revenue$2,836,065
Expenses$2,366,626
Net Income$469,439
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Feb 5, 2016
Return Version
2014v6.0
Gross Receipts
$2,836,065
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$11,180,712$11,065,360▼ $115,352
Rtn Earn Endowment Incm Other Fnds$9,464,944$9,833,973▲ $369,029
Investments in Publicly Traded Securities$431,638$685,311▲ $253,673
Savings and Temporary Cash Investments$720,526$495,137▼ $225,389
Accounts Receivable$239,898$228,526▼ $11,372
Other Notes and Loans Receivable, Net-$174,891-
Inventories for Sale or Use$82,653$98,838▲ $16,185
Cap Stk Tr Prin Current Funds$97,290$97,665▲ $375
Prepaid Expenses and Deferred Charges$60,457$54,106▼ $6,351
Total Assets$13,026,804$13,109,869▲ $83,065
Other Assets Total$310,920$307,700▼ $3,220
Liabilities
Other Liabilities$3,412,587$3,094,842▼ $317,745
Accounts Payable and Accrued Expenses$19,230$49,565▲ $30,335
Deferred Revenue$32,753$33,824▲ $1,071
Total Liabilities$3,464,570$3,178,231▼ $286,339
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,562,234$9,931,638▲ $369,404
Total Liabilities and Net Assets / Fund Balance$13,026,804$13,109,869▲ $83,065

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,218,877$5,865,235$15,084,112
Buildings$1,387,417$503,757$1,891,174
Land$282,029-$282,029
Other Land Buildings$177,037-$177,037
Compensation and Service Providers
Top Officer Pay18th percentile

Board Members and Trustees

NameTitle
John GrantPresident
Al Garza JrDirector
Ken GriffinDirector
Paul WomackDirector
Tom KurtzDirector
Bill LeeSecretary
Dave MuckermanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,812,769
Investment Income
$23,296
Other Revenue
$0
Change in Net Assets
$469,439

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,836,065
Total Revenue per Audited Statements
$2,836,065
Total Revenue per Form 990
$2,836,065
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,316,858
Salaries, Compensation, and Employee Benefits$1,049,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$801,784
Other Salaries and Wages---$769,392
Depreciation Depletion---$241,472
Other Employee Benefits---$171,102
Insurance---$101,093
Interest---$79,669
Payroll Taxes---$68,858
Travel---$44,145
Pension Plan Contributions---$40,416
Fees for Services Accounting---$28,871
Office Expenses---$19,824
Total Functional Expenses$0$0$0$2,366,626

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,366,626
Total Expenses per Audited Statements$2,366,626
Total Expenses per Form 990$2,366,626
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$2,243,350
Note Payable Bank of Pensacola$573,502
Member Deposits$223,308
Other Current Liabilities$54,682
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

Filer Name
Midway Water Systeminc
EIN
59-1532752
Phone
8509325188
Address
4971 GULF BREEZE PARKWAY, GULF BREEZE, FL 32561
Doing Business As
Midway Water Systeminc

Signing Officer

Name
Brenda Agricola
Title
Financial Manager
Phone
8509325188
Signed
2016-02-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brenda Agricola
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
16

Preparer

Firm
Dan Spata Pa
Address
5743 QUINTETTE RD, PACE, FL 32571
Preparer
Dan Spata
Phone
8509959909
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Bad debt 8,633 0 0 dues and subscriptions 7,727 0 0 fairpoint expenses 193,642 0 0 chemicals 19,195 0 0 other expenses 17,888 0 0 postage 38,636 0 0 repairs and maintenance 331,453 0 0 engineering fees 36,413 0 0 utilities 102,108 0 0 water analysis 11,535 0 0 expendable tools 6,933 0 0 education 7,733 0 0 janitorial 2,036 0 0 telephone 6,732 0 0 water conservation program 2,857 0 0 miscellaneous expense 8,263 0 0”

Form 990, Part XI, Line 9

“Increase in membership fees 375 net decrease contributions in aid of construction 65,134 reclassification of prior year construction in pro 0 unrealized loss 35,276”

Raw XML Appendix339 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/Desc2MEMBER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3OTHER CURRENT LIABILITIES
IRS990ScheduleD/RevenueSubtotalAmt02836065
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011065360
IRS990ScheduleD/TotalExpensesPerForm990Amt02366626
IRS990ScheduleD/TotalLiabilityAmt03094842
IRS990ScheduleD/TotalRevenuePerForm990Amt02836065
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02836065
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02366626
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 8,633 0 0 DUES AND SUBSCRIPTIONS 7,727 0 0 FAIRPOINT EXPENSES 193,642 0 0 CHEMICALS 19,195 0 0 OTHER EXPENSES 17,888 0 0 POSTAGE 38,636 0 0 REPAIRS AND MAINTENANCE 331,453 0 0 ENGINEERING FEES 36,413 0 0 UTILITIES 102,108 0 0 WATER ANALYSIS 11,535 0 0 EXPENDABLE TOOLS 6,933 0 0 EDUCATION 7,733 0 0 JANITORIAL 2,036 0 0 TELEPHONE 6,732 0 0 WATER CONSERVATION PROGRAM 2,857 0 0 MISCELLANEOUS EXPENSE 8,263 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7INCREASE IN MEMBERSHIP FEES 375 NET DECREASE CONTRIBUTIONS IN AID OF CONSTRUCTION 65,134 RECLASSIFICATION OF PRIOR YEAR CONSTRUCTION IN PRO 0 UNREALIZED LOSS 35,276
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/TotalAssetsBOYAmt013026804
IRS990/TotalAssetsEOYAmt013109869
IRS990/TotalAssetsGrp/BOYAmt013026804
IRS990/TotalAssetsGrp/EOYAmt013109869
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02366626
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03464570
IRS990/TotalLiabilitiesEOYAmt03178231
IRS990/TotalLiabilitiesGrp/BOYAmt03464570
IRS990/TotalLiabilitiesGrp/EOYAmt03178231
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09562234
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09931638
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt050967
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt050967
IRS990/TotalProgramServiceRevenueAmt02812769
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02836065
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02836065
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013026804
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013109869
IRS990/TravelGrp/TotalAmt044145
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04971 GULF BREEZE PARKWAY
IRS990/USAddress/CityNm0GULF BREEZE PARKWAY
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032563
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0MIDWAYWATER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENDA AGRICOLA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FINANCIAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum08509325188
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWAY WATER SYSTEMINC
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0591532752
ReturnHeader/Filer/PhoneNum08509325188
ReturnHeader/Filer/USAddress/AddressLine1Txt04971 GULF BREEZE PARKWAY
ReturnHeader/Filer/USAddress/CityNm0GULF BREEZE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032561
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593098304
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAN SPATA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05743 QUINTETTE RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032571
ReturnHeader/PreparerPersonGrp/PhoneNum08509959909
ReturnHeader/PreparerPersonGrp/PreparationDt02016-02-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAN SPATA
ReturnHeader/ReturnTs02016-02-10T17:55:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-10-01
ReturnHeader/TaxPeriodEndDt02015-09-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,109,869
Liabilities
$3,178,231
Net assets
$9,931,638
Revenue
$2,836,065
Expenses
$2,366,626
Net income
$469,439
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