Civic Intelligence

Fairpoint Regional Utility System Inc

990 • Fiscal year 2015 • EIN 59-3602680

Jan 01, 2015 to Dec 31, 2015 • Filed on May 03, 2016

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

0.72x

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

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

Liabilities / Revenue

97th percentile

6.16x

Higher debt load relative to revenue than 97% of similar nonprofits.

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

Net Margin

91st percentile

30%

Higher net margin than 91% 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

82nd percentile

6.9%

Faster asset growth than 82% of similar nonprofits.

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

Revenue Growth

100th percentile

155%

Faster revenue growth than 100% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$19,481,588

Up $1,263,439 (+6.9%) from 2014

Net Assets

Up

$5,359,513

Up $749,656 (+16%) from 2014

Liabilities

Up

$14,122,075

Up $513,783 (+3.8%) from 2014

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin91st percentile

Revenue

Up

$2,293,374

Up $1,394,242 (+155%) from 2014

Expenses

Up

$1,605,586

Up $382,218 (+31%) from 2014

Net Income

Up

$687,788

Up $1,012,024 (+312%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth82nd 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

2015

Assets$19,481,588
Liabilities$14,122,075
Net Assets$5,359,513
Open 2015 Filing

Operations Trend

Revenue Growth100th 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

2015

Revenue$2,293,374
Expenses$1,605,586
Net Income$687,788
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 3, 2016
Return Version
2015v2.1
Gross Receipts
$2,293,374
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$17,654,348$18,371,480▲ $717,132
Pd in Cap Srpls Land Bldg Eqp Fund$3,277,415$3,339,283▲ $61,868
Rtn Earn Endowment Incm Other Fnds$1,332,442$2,020,230▲ $687,788
Cash and Non-Interest-Bearing Accounts$109,559$368,268▲ $258,709
Savings and Temporary Cash Investments$303,874$350,162▲ $46,288
Accounts Receivable$29,304$242,621▲ $213,317
Prepaid Expenses and Deferred Charges$1,593$1,633▲ $40
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$18,218,149$19,481,588▲ $1,263,439
Other Assets Total$119,471$147,424▲ $27,953
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,478,529$13,146,341▲ $667,812
Other Liabilities$782,100$782,100→ $0
Accounts Payable and Accrued Expenses$347,663$193,634▼ $154,029
Total Liabilities$13,608,292$14,122,075▲ $513,783
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,609,857$5,359,513▲ $749,656
Total Liabilities and Net Assets / Fund Balance$18,218,149$19,481,588▲ $1,263,439

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,918,874$5,359,501$22,278,375
Land$1,050,323-$1,050,323
Other Land Buildings$402,283-$402,283
Compensation and Service Providers
Top Officer Pay18th percentile

Board Members and Trustees

NameTitle
Edwin A EDDYPresident
daryl lynchardVice President
beverly Zimmerndirector
bien maydirector
bobby cooleydirector
james calkinsdirector
matt dannheisserDirector
john grantSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,292,213
Investment Income
$61
Other Revenue
$1,100
Change in Net Assets
$687,788

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,293,374
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,293,374
Total Revenue per Form 990
$2,293,374
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,605,586
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
Depreciation Depletion---$466,826
Interest---$360,361
Occupancy---$237,461
All Other Expenses---$39,967
Other Expenses---$20,395
Fees for Services Accounting---$16,940
Fees for Services Legal---$6,465
Office Expenses---$642
Total Functional Expenses$0$0$0$1,605,586

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,605,586
Total Expenses per Audited Statements$1,605,586
Total Expenses per Form 990$1,605,586
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
2016-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edwin A Eddy
Formed
1999
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Warren Averett LLC
Address
316 South Baylen St Suite 300, Pensacola, FL 32502
Preparer
Margaret N Lorren
Phone
8504357400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“DONATED CAPITAL 61,868.”

Form 990, Part XII, Line 2C:

“No change from prior year”

Raw XML Appendix348 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/Amt0782100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0advances from members
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02293374
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018371480
IRS990ScheduleD/TotalExpensesPerForm990Amt01605586
IRS990ScheduleD/TotalLiabilityAmt0782100
IRS990ScheduleD/TotalRevenuePerForm990Amt02293374
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02293374
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01605586
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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/ExplanationTxt4DONATED CAPITAL 61,868.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO CHANGE FROM PRIOR YEAR
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2c:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt018218149
IRS990/TotalAssetsEOYAmt019481588
IRS990/TotalAssetsGrp/BOYAmt018218149
IRS990/TotalAssetsGrp/EOYAmt019481588
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01605586
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013608292
IRS990/TotalLiabilitiesEOYAmt014122075
IRS990/TotalLiabilitiesGrp/BOYAmt013608292
IRS990/TotalLiabilitiesGrp/EOYAmt014122075
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04609857
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05359513
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt02292213
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt061
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02293313
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02293374
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt018218149
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019481588
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08574 turkey bluff road
IRS990/USAddress/CityNm0navarre
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032566
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0n/a
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Edwin A Eddy
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0president
ReturnHeader/BusinessOfficerGrp/PhoneNum08509325188
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-03
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/PreparationDt02016-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Margaret N Lorren
ReturnHeader/ReturnTs02016-05-10T09:52:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$19,481,588
Liabilities
$14,122,075
Net assets
$5,359,513
Revenue
$2,293,374
Expenses
$1,605,586
Net income
$687,788
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