Civic Intelligence

Fairpoint Regional Utility System Inc

990 • Fiscal year 2014 • EIN 59-3602680

Jan 01, 2014 to Dec 31, 2014 • Filed on May 13, 2015

Organization ProfileN/A
8574 Turkey Bluff RoadNavarre, FL 32566

(850) 939-2427

Siviq Scores

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

Liabilities / Assets

95th percentile

0.75x

Higher debt load relative to assets than 95% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

15.13x

Higher debt load relative to revenue than 99% of similar nonprofits.

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

Net Margin

2nd percentile

-36%

Higher net margin than 2% 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

6th percentile

-5.5%

Faster asset growth than 6% of similar nonprofits.

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

Revenue Growth

1st percentile

-59%

Faster revenue growth than 1% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$18,218,149

Down $1,070,349 (-5.5%) from 2013

Net Assets

Down

$4,609,857

Down $324,236 (-6.6%) from 2013

Liabilities

Down

$13,608,292

Down $746,113 (-5.2%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Down

$899,132

Down $1,280,618 (-59%) from 2013

Expenses

Down

$1,223,368

Down $490,958 (-29%) from 2013

Net Income

Down

-$324,236

Down $789,660 (-170%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$30M$20M$10M$0Assets 2010: $20,258,473Liabilities 2010: $16,615,308Net Assets 2010: $3,643,1652010Assets 2011: $20,011,536Liabilities 2011: $16,021,312Net Assets 2011: $3,990,2242011Assets 2012: $19,650,951Liabilities 2012: $15,182,282Net Assets 2012: $4,468,6692012Assets 2013: $19,288,498Liabilities 2013: $14,354,405Net Assets 2013: $4,934,0932013Assets 2014: $18,218,149Liabilities 2014: $13,608,292Net Assets 2014: $4,609,8572014Assets 2015: $19,481,588Liabilities 2015: $14,122,075Net Assets 2015: $5,359,5132015Assets 2016: $18,990,524Liabilities 2016: $12,331,805Net Assets 2016: $6,658,7192016Assets 2017: $19,034,878Liabilities 2017: $10,907,384Net Assets 2017: $8,127,4942017Assets 2018: $19,173,183Liabilities 2018: $9,552,527Net Assets 2018: $9,620,6562018Assets 2019: $19,455,712Liabilities 2019: $8,202,649Net Assets 2019: $11,253,0632019Assets 2020: $21,872,798Liabilities 2020: $8,779,872Net Assets 2020: $13,092,9262020Assets 2021: $22,276,497Liabilities 2021: $7,441,830Net Assets 2021: $14,834,6672021Assets 2022: $22,706,526Liabilities 2022: $6,214,289Net Assets 2022: $16,492,2372022Assets 2023: $23,087,653Liabilities 2023: $5,020,772Net Assets 2023: $18,066,8812023Assets 2024: $23,361,298Liabilities 2024: $3,616,767Net Assets 2024: $19,744,5312024

Highlighted filing

2014

Assets$18,218,149
Liabilities$13,608,292
Net Assets$4,609,857
Open 2014 Filing

Operations Trend

Revenue Growth1st percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $1,587,5102010Expenses 2011: $1,721,4662011Expenses 2012: $1,643,7672012Revenue 2013: $2,179,750Expenses 2013: $1,714,326Net Income 2013: $465,4242013Revenue 2014: $899,132Expenses 2014: $1,223,368Net Income 2014: -$324,2362014Revenue 2015: $2,293,374Expenses 2015: $1,605,586Net Income 2015: $687,7882015Revenue 2016: $3,017,639Expenses 2016: $1,738,210Net Income 2016: $1,279,4292016Revenue 2017: $3,227,529Expenses 2017: $1,764,613Net Income 2017: $1,462,9162017Revenue 2018: $3,246,759Expenses 2018: $1,753,597Net Income 2018: $1,493,1622018Revenue 2019: $3,458,314Expenses 2019: $1,825,907Net Income 2019: $1,632,4072019Revenue 2020: $3,639,846Expenses 2020: $1,799,982Net Income 2020: $1,839,8642020Revenue 2021: $3,692,461Expenses 2021: $1,950,720Net Income 2021: $1,741,7412021Revenue 2022: $3,836,568Expenses 2022: $2,178,998Net Income 2022: $1,657,5702022Revenue 2023: $3,879,888Expenses 2023: $2,305,244Net Income 2023: $1,574,6442023Revenue 2024: $3,879,043Expenses 2024: $2,201,393Net Income 2024: $1,677,6502024

Highlighted filing

2014

Revenue$899,132
Expenses$1,223,368
Net Income-$324,236
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 13, 2015
Return Version
2014v5.0
Gross Receipts
$899,132
Mission and Program Overview

Mission

To create, operate, and maintain a water supply utility system to provide potable water and related services to its members.

Fairpoint regional utility system, inc. Provides water and sewer service for utility customers in the south santa rosa county area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,268,406$17,654,348▲ $385,942
Pd in Cap Srpls Land Bldg Eqp Fund$3,277,415$3,277,415→ $0
Rtn Earn Endowment Incm Other Fnds$1,656,678$1,332,442▼ $324,236
Savings and Temporary Cash Investments$1,049,675$303,874▼ $745,801
Cash and Non-Interest-Bearing Accounts$646,956$109,559▼ $537,397
Accounts Receivable$181,517$29,304▼ $152,213
Prepaid Expenses and Deferred Charges$1,487$1,593▲ $106
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$19,288,498$18,218,149▼ $1,070,349
Other Assets Total$140,457$119,471▼ $20,986
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,373,147$12,478,529▼ $894,618
Other Liabilities$782,100$782,100→ $0
Accounts Payable and Accrued Expenses$199,158$347,663▲ $148,505
Total Liabilities$14,354,405$13,608,292▼ $746,113
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,934,093$4,609,857▼ $324,236
Total Liabilities and Net Assets / Fund Balance$19,288,498$18,218,149▼ $1,070,349

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,964,147$4,915,346$20,879,493
Land$1,050,323-$1,050,323
Other Land Buildings$639,878-$639,878
Compensation and Service Providers
Top Officer Pay16th percentile

Board Members and Trustees

NameTitle
Edwin a EddyPresident
William GouletVice President
Bobby CooleyDirector
Charlie EnghauserDirector
John GrantDirector
Beverly ZimmernSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$898,015
Investment Income
$91
Other Revenue
$1,026
Change in Net Assets
$-324,236

Audited Revenue Reconciliation

Revenue per Audited Statements
$899,132
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$899,132
Total Revenue per Form 990
$899,132
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,223,368
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$335,246
Depreciation Depletion---$233,179
Occupancy---$154,244
All Other Expenses---$43,598
Other Expenses---$18,814
Fees for Services Accounting---$11,270
Fees for Services Legal---$5,668
Office Expenses---$248
Total Functional Expenses$0$0$0$1,223,368

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,223,368
Total Expenses per Audited Statements$1,223,368
Total Expenses per Form 990$1,223,368
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Advances From Members$782,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“This is a water supply utility system. The members include holley-navarre water system, inc., midway water system, inc. And the city of gulf breeze. Members have no right to manage or decide the affairs of the corporation.”

Form 990, Part VI, Section B, Line 11

“Presents at pre-board meeting and is open for discussion.”

Form 990, Part VI, Section B, Line 15

“Form 990, part vi, section b, line 15: there is no compensation paid by this organization.”

Form 990, Part VI, Section C, Line 19

“Upon written request to the executive director.”

Filing and Contact Details

Filer

Filer Name
Fairpoint Regional Utility System Inc
EIN
59-3602680
Phone
8509392427
Address
8574 TURKEY BLUFF ROAD, NAVARRE, FL 32566

Signing Officer

Name
Edwin a Eddy
Title
President
Phone
8509325188
Signed
2015-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edwin a Eddy
Formed
1999
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Warren Averett LLC
Address
316 SOUTH BAYLEN ST SUITE 300, PENSACOLA, FL 32502
Preparer
MARGARET N 'MCGEE' LORREN
Phone
8504357400
Raw XML Appendix327 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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IRS990/ActivityOrMissionDesc0FAIRPOINT REGIONAL UTILITY SYSTEM, INC. PROVIDES WATER AND SEWER SERVICE FOR UTILITY CUSTOMERS IN THE SOUTH SANTA ROSA COUNTY AREA.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THIS IS A WATER SUPPLY UTILITY SYSTEM. THE MEMBERS INCLUDE HOLLEY-NAVARRE WATER SYSTEM, INC., MIDWAY WATER SYSTEM, INC. AND THE CITY OF GULF BREEZE. MEMBERS HAVE NO RIGHT TO MANAGE OR DECIDE THE AFFAIRS OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRESENTS AT PRE-BOARD MEETING AND IS OPEN FOR DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART VI, SECTION B, LINE 15: THERE IS NO COMPENSATION PAID BY THIS ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON WRITTEN REQUEST TO THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt019288498
IRS990/TotalAssetsEOYAmt018218149
IRS990/TotalAssetsGrp/BOYAmt019288498
IRS990/TotalAssetsGrp/EOYAmt018218149
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01223368
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014354405
IRS990/TotalLiabilitiesEOYAmt013608292
IRS990/TotalLiabilitiesGrp/BOYAmt014354405
IRS990/TotalLiabilitiesGrp/EOYAmt013608292
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04934093
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04609857
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0898015
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt091
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0899041
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0899132
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019288498
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt018218149
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08574 TURKEY BLUFF ROAD
IRS990/USAddress/CityNm0NAVARRE
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032566
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EDWIN A EDDY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08509325188
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAIRPOINT REGIONAL UTILITY SYSTEM INC
ReturnHeader/Filer/BusinessNameControlTxt0FAIR
ReturnHeader/Filer/EIN0593602680
ReturnHeader/Filer/PhoneNum08509392427
ReturnHeader/Filer/USAddress/AddressLine1Txt08574 TURKEY BLUFF ROAD
ReturnHeader/Filer/USAddress/CityNm0NAVARRE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032566
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0454084437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WARREN AVERETT LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0316 SOUTH BAYLEN ST SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PENSACOLA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032502
ReturnHeader/PreparerPersonGrp/PhoneNum08504357400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARGARET N 'MCGEE' LORREN
ReturnHeader/ReturnTs02015-05-14T14:12:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$18,218,149
Liabilities
$13,608,292
Net assets
$4,609,857
Revenue
$899,132
Expenses
$1,223,368
Net income
-$324,236
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.4$3.62$19.7$3.88$2.20$1.68
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.1$5.02$18.1$3.88$2.31$1.57
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.7$6.21$16.5$3.84$2.18$1.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.3$7.44$14.8$3.69$1.95$1.74
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.9$8.78$13.1$3.64$1.80$1.84
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.5$8.20$11.3$3.46$1.83$1.63
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.2$9.55$9.62$3.25$1.75$1.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.0$10.9$8.13$3.23$1.76$1.46
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.0$12.3$6.66$3.02$1.74$1.28
2015Detailed filing. Detailed filing data is available for this year.$19.5$14.1$5.36$2.29$1.61$0.69
2014Detailed filing. Detailed filing data is available for this year.$18.2$13.6$4.61$0.90$1.22$0.32
2013Detailed filing. Detailed filing data is available for this year.$19.3$14.4$4.93$2.18$1.71$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$15.2$4.47$1.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$16.0$3.99$1.72
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.3$16.6$3.64$1.59