Civic Intelligence

Rowan Water Inc

EIN 61-0701413 • 501(c)12 • Morehead, KY

Profile

Provide water service to residents in the rowan county area

Refreshing map…

1765 Christy CreekMorehead, KY 40351

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

76th percentile

0.51x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

1.28x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2024

Net Margin

79th percentile

28%

Higher net margin than 79% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

53rd percentile

$85,272

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

$10M-$25M nonprofits • Source year 2024

Asset Growth

90th percentile

24%

Faster asset growth than 90% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

90th percentile

39%

Faster revenue growth than 90% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$14,724,826

Up $2,816,996 (+24%) from 2023

Liabilities

Up

$7,441,460

Up $1,178,653 (+19%) from 2023

Net Assets

Up

$7,283,366

Up $1,638,343 (+29%) from 2023

Revenue

Up

$5,820,812

Up $1,639,691 (+39%) from 2023

Expenses

Up

$4,182,469

Up $144,271 (+3.6%) from 2023

Net Income

Up

$1,638,343

Up $1,495,420 (+1046%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $11,618,880Liabilities 2010: $4,505,453Net Assets 2010: $7,113,4272010Assets 2011: $11,801,382Liabilities 2011: $4,308,713Net Assets 2011: $7,492,6692011Assets 2012: $12,336,916Liabilities 2012: $5,236,318Net Assets 2012: $7,100,5982012Assets 2013: $12,740,009Liabilities 2013: $5,219,126Net Assets 2013: $7,520,8832013Assets 2014: $12,365,133Liabilities 2014: $5,041,837Net Assets 2014: $7,323,2962014Assets 2015: $12,036,781Liabilities 2015: $4,957,394Net Assets 2015: $7,079,3872015Assets 2016: $11,691,366Liabilities 2016: $4,864,491Net Assets 2016: $6,826,8752016Assets 2017: $11,743,945Liabilities 2017: $5,307,073Net Assets 2017: $6,436,8722017Assets 2018: $12,242,346Liabilities 2018: $5,725,897Net Assets 2018: $6,516,4492018Assets 2019: $11,808,610Liabilities 2019: $5,753,939Net Assets 2019: $6,054,6712019Assets 2020: $12,975,513Liabilities 2020: $6,838,083Net Assets 2020: $6,137,4302020Assets 2021: $12,516,222Liabilities 2021: $6,708,630Net Assets 2021: $5,807,5922021Assets 2022: $11,873,855Liabilities 2022: $6,371,755Net Assets 2022: $5,502,1002022Assets 2023: $11,907,830Liabilities 2023: $6,262,807Net Assets 2023: $5,645,0232023Assets 2024: $14,724,826Liabilities 2024: $7,441,460Net Assets 2024: $7,283,3662024

Highlighted filing

2024

Assets$14,724,826
Liabilities$7,441,460
Net Assets$7,283,366

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,890,4972010Expenses 2011: $3,017,1262011Revenue 2012: $2,588,849Expenses 2012: $3,017,314Net Income 2012: -$428,4652012Revenue 2013: $3,361,473Expenses 2013: $2,989,238Net Income 2013: $372,2352013Revenue 2014: $2,823,428Expenses 2014: $3,076,644Net Income 2014: -$253,2162014Revenue 2015: $2,894,515Expenses 2015: $3,138,794Net Income 2015: -$244,2792015Revenue 2016: $2,895,355Expenses 2016: $3,147,867Net Income 2016: -$252,5122016Revenue 2017: $2,956,198Expenses 2017: $3,290,126Net Income 2017: -$333,9282017Revenue 2018: $3,474,298Expenses 2018: $3,394,721Net Income 2018: $79,5772018Revenue 2019: $3,164,780Expenses 2019: $3,626,558Net Income 2019: -$461,7782019Revenue 2020: $3,560,063Expenses 2020: $3,477,304Net Income 2020: $82,7592020Revenue 2021: $3,336,690Expenses 2021: $3,698,435Net Income 2021: -$361,7452021Revenue 2022: $3,360,125Expenses 2022: $3,665,617Net Income 2022: -$305,4922022Revenue 2023: $4,181,121Expenses 2023: $4,038,198Net Income 2023: $142,9232023Revenue 2024: $5,820,812Expenses 2024: $4,182,469Net Income 2024: $1,638,3432024

Highlighted filing

2024

Revenue$5,820,812
Expenses$4,182,469
Net Income$1,638,343

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.7$7.44$7.28$5.82$4.18$1.64
2023Summary only. Only limited summary data is available for this year.$11.9$6.26$5.65$4.18$4.04$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$6.37$5.50$3.36$3.67$0.31
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.5$6.71$5.81$3.34$3.70$0.36
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.0$6.84$6.14$3.56$3.48$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.8$5.75$6.05$3.16$3.63$0.46
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.2$5.73$6.52$3.47$3.39$0.08
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$5.31$6.44$2.96$3.29$0.33
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.7$4.86$6.83$2.90$3.15$0.25
2015Detailed filing. Detailed filing data is available for this year.$12.0$4.96$7.08$2.89$3.14$0.24
2014Detailed filing. Detailed filing data is available for this year.$12.4$5.04$7.32$2.82$3.08$0.25
2013Detailed filing. Detailed filing data is available for this year.$12.7$5.22$7.52$3.36$2.99$0.37
2012Summary only. Only limited summary data is available for this year.$12.3$5.24$7.10$2.59$3.02$0.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$4.31$7.49$3.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$4.51$7.11$2.89
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 1, 2025
Return Version
2024v5.2
Gross Receipts
$5,820,812
Mission and Program Overview

Mission

Provide water service to residents in the rowan county area

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,318,030$12,506,896▲ $2,188,866
Cash and Non-Interest-Bearing Accounts$712,502$849,877▲ $137,375
Accounts Receivable$417,185$678,841▲ $261,656
Inventories for Sale or Use$204,820$226,889▲ $22,069
Total Assets$11,907,830$14,724,826▲ $2,816,996
Other Assets Total$255,293$462,323▲ $207,030
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,659,574$6,597,469▲ $937,895
Accounts Payable and Accrued Expenses$481,003$717,921▲ $236,918
Other Liabilities$122,230$126,070▲ $3,840
Total Liabilities$6,262,807$7,441,460▲ $1,178,653
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,645,023$7,283,366▲ $1,638,343
Total Net Assets Fund Balance$5,645,023$7,283,366▲ $1,638,343
Total Liabilities and Net Assets / Fund Balance$11,907,830$14,724,826▲ $2,816,996

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$552,130$347,408-
Other Land Buildings$10,720,661$10,713,675-
Land$228,215--
Equipment$1,005,890$1,298,433-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jerry PatrickGeneral ManagerFT$85,272$85,272
Larry JohnsonPresident-$6,535$6,535
Mike CollinsSecretary Treasurer-$6,535$6,535
Enoch BlairVice President-$5,365$5,365
Randy CoxMember-$5,365$5,365
Duane DeHartMember-$5,007$5,007
Revenue and Support

Revenue Composition

Contributions and Grants
$1,317,713
Program Service Revenue
$4,227,601
Investment Income
$105,537
Other Revenue
$169,961
Change in Net Assets
$1,638,343

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,820,812
Total Revenue per Audited Statements
$5,820,812
Total Revenue per Form 990
$5,820,812
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,139,959
Salaries, Compensation, and Employee Benefits$1,042,510
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$639,447$13,050-$652,497
Other Salaries and Wages$396,950$168,517-$565,467
Other Employee Benefits$195,281$124,851-$320,132
Interest-$173,209-$173,209
Occupancy$159,107--$159,107
Other Expenses$30,523$122,348-$152,871
Current Officers, Directors, Trustees, and Key Employees-$114,079-$114,079
Fees for Services Accounting-$59,139-$59,139
Insurance-$59,075-$59,075
Travel$51,035--$51,035
Fees for Services Other$43,170--$43,170
Payroll Taxes$26,128$16,704-$42,832
Office Expenses-$15,897-$15,897
Total Functional Expenses$3,293,347$889,122$0$4,182,469

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,182,469
Total Expenses per Audited Statements$4,182,469
Total Expenses per Form 990$4,182,469
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
Customer Deposits$126,070
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
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

Members or stockholder classes and rights Part VI line 6

All customers are members of the organization

Form 990 governing body review Part VI line 11

The examination and discussion of each years form 990 is placed on the agenda of the regular monthly board meeting. The 990 is thoroughly reviewed at that meeting, necessary changes made - if any, and approved by the board.

Governing documents etc available to public Part VI line 19

Up to the present, records are made available only upon request.

Filing and Contact Details

Filer

Filer Name
Rowan Water Inc
EIN
61-0701413
In Care Of
% Jerry Patrick
Phone
6067849818
Address
1765 Christy Creek, Morehead, KY 40351

Signing Officer

Name
Jerry Patrick
Title
General Manager
Phone
6067849818
Signed
2025-10-01
Discuss with paid preparer
Yes

Organization Details

Formed
1968
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
5
Employees
12

Preparer

Firm
Millhuff Stang CPA Inc
Address
8841 Ohio River Road, Wheelersburg, OH 45694
Preparer
Natalie Millhuff-stang
Phone
7408768548
Raw XML Appendix363 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/OtherRevenueMiscGrp/Desc0OTHER OPERATING
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0169961
IRS990/OtherRevenueTotalAmt0169961
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0168517
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0396950
IRS990/OtherSalariesAndWagesGrp/TotalAmt0565467
IRS990/OtherSourcesGrossIncomeAmt01593211
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt016704
IRS990/PayrollTaxesGrp/ProgramServicesAmt026128
IRS990/PayrollTaxesGrp/TotalAmt042832
IRS990/PoliticalCampaignActyInd0false
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/Desc0Water Sales and Related
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04227601
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04227601
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0210636
IRS990/PYOtherExpensesAmt03090734
IRS990/PYOtherRevenueAmt0172066
IRS990/PYProgramServiceRevenueAmt03798419
IRS990/PYRevenuesLessExpensesAmt0142923
IRS990/PYSalariesCompEmpBnftPaidAmt0947464
IRS990/PYTotalExpensesAmt04038198
IRS990/PYTotalRevenueAmt04181121
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01638343
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0552130
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0347408
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0899538
IRS990ScheduleD/EquipmentGrp/BookValueAmt01005890
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01298433
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt02304323
IRS990ScheduleD/ExpensesSubtotalAmt04182469
IRS990ScheduleD/LandGrp/BookValueAmt0228215
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0228215
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010720661
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt010713675
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt021434336
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0126070
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt05820812
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012506896
IRS990ScheduleD/TotalExpensesPerForm990Amt04182469
IRS990ScheduleD/TotalLiabilityAmt0126070
IRS990ScheduleD/TotalRevenuePerForm990Amt05820812
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05820812
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04182469
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0All customers are members of the organization
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The examination and discussion of each years form 990 is placed on the agenda of the regular monthly board meeting. The 990 is thoroughly reviewed at that meeting, necessary changes made - if any, and approved by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Up to the present, records are made available only upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011907830
IRS990/TotalAssetsEOYAmt014724826
IRS990/TotalAssetsGrp/BOYAmt011907830
IRS990/TotalAssetsGrp/EOYAmt014724826
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01317713
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0889122
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03293347
IRS990/TotalFunctionalExpensesGrp/TotalAmt04182469
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06262807
IRS990/TotalLiabilitiesEOYAmt07441460
IRS990/TotalLiabilitiesGrp/BOYAmt06262807
IRS990/TotalLiabilitiesGrp/EOYAmt07441460
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05645023
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07283366
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03293347
IRS990/TotalProgramServiceRevenueAmt04227601
IRS990/TotalReportableCompFromOrgAmt0114079
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04503099
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05820812
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011907830
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt014724826
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt051035
IRS990/TravelGrp/TotalAmt051035
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY PATRICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0General Manager
ReturnHeader/BusinessOfficerGrp/PhoneNum06067849818
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Rowan Water Inc
ReturnHeader/Filer/BusinessNameControlTxt0ROWA
ReturnHeader/Filer/EIN0610701413
ReturnHeader/Filer/InCareOfNm0% Jerry Patrick
ReturnHeader/Filer/PhoneNum06067849818
ReturnHeader/Filer/USAddress/AddressLine1Txt01765 Christy Creek
ReturnHeader/Filer/USAddress/CityNm0Morehead
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040351
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270422301
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Millhuff Stang CPA Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08841 Ohio River Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wheelersburg
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd045694
ReturnHeader/PreparerPersonGrp/PhoneNum07408768548
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NATALIE MILLHUFF-STANG
ReturnHeader/ReturnTs02025-11-05T12:31:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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