Civic Intelligence

Midway Water Systeminc

990 • Fiscal year 2018 • EIN 59-1532752

Oct 01, 2017 to Sep 30, 2018 • Filed on Jan 31, 2019

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

25th percentile

0.16x

Higher debt load relative to assets than 25% of similar nonprofits.

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

Liabilities / Revenue

29th percentile

0.68x

Higher debt load relative to revenue than 29% of similar nonprofits.

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

Net Margin

78th percentile

19%

Higher net margin than 78% of similar nonprofits.

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

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

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

Asset Growth

59th percentile

3.5%

Faster asset growth than 59% of similar nonprofits.

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

Revenue Growth

73rd percentile

8.2%

Faster revenue growth than 73% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$13,975,129

Up $471,670 (+3.5%) from 2017

Net Assets

Up

$11,779,081

Up $800,413 (+7.3%) from 2017

Liabilities

Down

$2,196,048

Down $328,743 (-13%) from 2017

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin78th percentile

Revenue

Up

$3,242,123

Up $245,117 (+8.2%) from 2017

Expenses

Down

$2,632,972

Down $110,214 (-4.0%) from 2017

Net Income

Up

$609,151

Up $355,331 (+140%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth59th 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

2018

Assets$13,975,129
Liabilities$2,196,048
Net Assets$11,779,081
Open 2018 Filing

Operations Trend

Revenue Growth73rd 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

2018

Revenue$3,242,123
Expenses$2,632,972
Net Income$609,151
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jan 31, 2019
Return Version
2017v2.3
Gross Receipts
$3,242,123
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$10,879,578$11,678,776▲ $799,198
Land, Buildings, and Equipment, Net$10,304,842$9,925,677▼ $379,165
Investments in Publicly Traded Securities$1,671,991$2,138,032▲ $466,041
Savings and Temporary Cash Investments$701,076$1,115,491▲ $414,415
Accounts Receivable$224,149$244,783▲ $20,634
Other Notes and Loans Receivable, Net$141,370$123,881▼ $17,489
Inventories for Sale or Use$103,854$105,128▲ $1,274
Cap Stk Tr Prin Current Funds$99,090$100,305▲ $1,215
Prepaid Expenses and Deferred Charges$54,917$52,407▼ $2,510
Total Assets$13,503,459$13,975,129▲ $471,670
Other Assets Total$301,260$269,730▼ $31,530
Liabilities
Other Liabilities$2,422,999$2,076,508▼ $346,491
Accounts Payable and Accrued Expenses$65,908$82,580▲ $16,672
Deferred Revenue$35,884$36,960▲ $1,076
Total Liabilities$2,524,791$2,196,048▼ $328,743
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,978,668$11,779,081▲ $800,413
Total Liabilities and Net Assets / Fund Balance$13,503,459$13,975,129▲ $471,670

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,700,874$7,555,709$15,256,583
Buildings$1,927,774-$1,927,774
Land$297,029-$297,029
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
John GrantPresident
Angel JacksonDirector
Dana TimmonsDirector
Patty OverlyDirector
Bill LeeSecretary
Paul WomackTreasurer
Al Garza JrVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,160,041
Investment Income
$82,082
Other Revenue
$0
Change in Net Assets
$609,151

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,242,123
Total Revenue per Audited Statements
$3,242,123
Total Revenue per Form 990
$3,242,123
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,568,355
Salaries, Compensation, and Employee Benefits$1,064,617
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$1,100,546
Other Salaries and Wages---$743,223
Depreciation Depletion---$241,856
Other Employee Benefits---$234,031
Insurance---$104,245
Payroll Taxes---$56,857
Interest---$52,890
Pension Plan Contributions---$30,506
Travel---$27,564
Fees for Services Accounting---$24,208
Office Expenses---$17,046
Total Functional Expenses$0$0$0$2,632,972

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,632,972
Total Expenses per Audited Statements$2,632,972
Total Expenses per Form 990$2,632,972
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$1,741,529
Member Deposits$273,858
Other Current Liabilities$61,121
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
2019-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Grant
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
16

Preparer

Firm
Dan Spata Pa
Address
PO BOX 11185, PENSACOLA, FL 32524
Preparer
Dan Spata
Phone
8509959909
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Dues and subscriptions 6,103 0 0 fairpoint expenses 445,470 0 0 chemicals 19,153 0 0 postage 40,520 0 0 repairs and maintenance 399,899 0 0 engineering fees 2,642 0 0 utilities 112,065 0 0 water analysis 17,687 0 0 expendable tools 9,353 0 0 education 2,722 0 0 janitorial 1,565 0 0 telephone 11,349 0 0 miscellaneous expense 3,820 0 0 bank charges 28,198 0 0 total 1,100,546 0 0”

Form 990, Part XI, Line 9

“Increase in membership fees 1,215 unrealized gains 16,658 increase in contributions in aid 173,389 net decrease contributions in aid of construction 0 unrealized loss 0 total 191,262”

Raw XML Appendix334 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/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/ExplanationTxt6DUES AND SUBSCRIPTIONS 6,103 0 0 FAIRPOINT EXPENSES 445,470 0 0 CHEMICALS 19,153 0 0 POSTAGE 40,520 0 0 REPAIRS AND MAINTENANCE 399,899 0 0 ENGINEERING FEES 2,642 0 0 UTILITIES 112,065 0 0 WATER ANALYSIS 17,687 0 0 EXPENDABLE TOOLS 9,353 0 0 EDUCATION 2,722 0 0 JANITORIAL 1,565 0 0 TELEPHONE 11,349 0 0 MISCELLANEOUS EXPENSE 3,820 0 0 BANK CHARGES 28,198 0 0 TOTAL 1,100,546 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7INCREASE IN MEMBERSHIP FEES 1,215 UNREALIZED GAINS 16,658 INCREASE IN CONTRIBUTIONS IN AID 173,389 NET DECREASE CONTRIBUTIONS IN AID OF CONSTRUCTION 0 UNREALIZED LOSS 0 TOTAL 191,262
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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
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IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt014241
IRS990/TotalProgramServiceRevenueAmt03160041
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FINANCIAL MANAGER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-31
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 11185
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PENSACOLA
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-01-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAN SPATA
ReturnHeader/ReturnTs02019-02-01T08:40:58-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

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
$13,975,129
Liabilities
$2,196,048
Net assets
$11,779,081
Revenue
$3,242,123
Expenses
$2,632,972
Net income
$609,151
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
2018Detailed filing. Detailed filing data is available for this year.$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