Civic Intelligence

Freeny Water Association

990 • Fiscal year 2015 • EIN 62-1373723

Jul 01, 2014 to Jun 30, 2015 • Filed on Sep 15, 2015

Organization Profile
1411 Hwy 35 SouthCarthage, MS 39051

(601) 267-8266

Siviq Scores

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

Liabilities / Assets

81st percentile

0.55x

Higher debt load relative to assets than 81% of similar nonprofits.

2015 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

76th percentile

2.98x

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

2015 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2015

Net Margin

66th percentile

11%

Higher net margin than 66% of similar nonprofits.

2015 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

62nd percentile

$0

Higher top officer pay than 62% of similar nonprofits.

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

2015 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2015

Asset Growth

29th percentile

-2.3%

Faster asset growth than 29% of similar nonprofits.

2015 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

55th percentile

3.1%

Faster revenue growth than 55% of similar nonprofits.

2015 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$3,387,240

Down $77,982 (-2.3%) from 2014

Net Assets

Up

$1,533,736

Up $66,376 (+4.5%) from 2014

Liabilities

Down

$1,853,504

Down $144,358 (-7.2%) from 2014

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin66th percentile

Revenue

Up

$622,857

Up $18,747 (+3.1%) from 2014

Expenses

Down

$556,481

Down $24,997 (-4.3%) from 2014

Net Income

Up

$66,376

Up $43,744 (+193%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,951,344Liabilities 2011: $2,367,828Net Assets 2011: $1,583,5162011Assets 2012: $3,790,604Liabilities 2012: $2,254,181Net Assets 2012: $1,536,4232012Assets 2013: $3,573,877Liabilities 2013: $2,129,149Net Assets 2013: $1,444,7282013Assets 2014: $3,465,222Liabilities 2014: $1,997,862Net Assets 2014: $1,467,3602014Assets 2015: $3,387,240Liabilities 2015: $1,853,504Net Assets 2015: $1,533,7362015Assets 2016: $3,298,184Liabilities 2016: $1,716,676Net Assets 2016: $1,581,5082016Assets 2017: $3,235,623Liabilities 2017: $1,601,329Net Assets 2017: $1,634,2942017Assets 2018: $3,174,417Liabilities 2018: $1,454,353Net Assets 2018: $1,720,0642018Assets 2019: $3,057,634Liabilities 2019: $1,229,393Net Assets 2019: $1,828,2412019Assets 2020: $2,982,638Liabilities 2020: $1,080,474Net Assets 2020: $1,902,1642020Assets 2021: $2,910,710Liabilities 2021: $919,075Net Assets 2021: $1,991,6352021Assets 2022: $2,810,640Liabilities 2022: $751,590Net Assets 2022: $2,059,0502022Assets 2023: $2,794,280Liabilities 2023: $584,440Net Assets 2023: $2,209,8402023Assets 2024: $2,803,072Liabilities 2024: $432,832Net Assets 2024: $2,370,2402024

Highlighted filing

2015

Assets$3,387,240
Liabilities$1,853,504
Net Assets$1,533,736
Open 2015 Filing

Operations Trend

Revenue Growth55th percentile

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

$800K$600K$400K$200K$0Expenses 2011: $637,5322011Expenses 2012: $621,0232012Expenses 2013: $641,4412013Revenue 2014: $604,110Expenses 2014: $581,478Net Income 2014: $22,6322014Revenue 2015: $622,857Expenses 2015: $556,481Net Income 2015: $66,3762015Revenue 2016: $604,444Expenses 2016: $556,672Net Income 2016: $47,7722016Revenue 2017: $642,044Expenses 2017: $589,258Net Income 2017: $52,7862017Revenue 2018: $640,450Expenses 2018: $554,680Net Income 2018: $85,7702018Revenue 2019: $662,360Expenses 2019: $554,183Net Income 2019: $108,1772019Revenue 2020: $660,442Expenses 2020: $586,519Net Income 2020: $73,9232020Revenue 2021: $660,065Expenses 2021: $570,594Net Income 2021: $89,4712021Revenue 2022: $661,623Expenses 2022: $594,208Net Income 2022: $67,4152022Revenue 2023: $760,554Expenses 2023: $609,764Net Income 2023: $150,7902023Revenue 2024: $767,870Expenses 2024: $607,470Net Income 2024: $160,4002024

Highlighted filing

2015

Revenue$622,857
Expenses$556,481
Net Income$66,376
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Sep 15, 2015
Return Version
2014v5.0
Gross Receipts
$622,857
Mission and Program Overview

Mission

Provides water for approximately two thousand members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,769,888$2,635,803▼ $134,085
Savings and Temporary Cash Investments$546,348$548,914▲ $2,566
Cash and Non-Interest-Bearing Accounts$44,505$101,065▲ $56,560
Accounts Receivable$65,518$67,792▲ $2,274
Inventories for Sale or Use$22,428$22,868▲ $440
Prepaid Expenses and Deferred Charges$16,535$10,798▼ $5,737
Total Assets$3,465,222$3,387,240▼ $77,982
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,905,840$1,768,958▼ $136,882
Other Liabilities$66,742$66,826▲ $84
Accounts Payable and Accrued Expenses$25,280$17,720▼ $7,560
Total Liabilities$1,997,862$1,853,504▼ $144,358
Net Assets / Fund Balance
Unrestricted Net Assets$1,467,360$1,533,736▲ $66,376
Total Net Assets Fund Balance$1,467,360$1,533,736▲ $66,376
Total Liabilities and Net Assets / Fund Balance$3,465,222$3,387,240▼ $77,982

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$41,587$16,133-
Land$19,969--
Equipment$2,573,017$2,450,489-
Leasehold Improvements$1,230$11,070-
Compensation and Service Providers
Top Officer Pay62nd percentile

Board Members and Trustees

NameTitle
H V Neal JrPresident
William P CrosbyVice President
Kenneth ClaytonDirector
Leran EalyDirector
Linda TerrellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$620,244
Investment Income
$2,613
Other Revenue
$0
Change in Net Assets
$66,376

Audited Revenue Reconciliation

Revenue per Audited Statements
$622,857
Total Revenue per Audited Statements
$622,857
Total Revenue per Form 990
$622,857
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$398,930
Salaries, Compensation, and Employee Benefits$157,551
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$148,652--$148,652
Depreciation Depletion$134,085--$134,085
Occupancy$117,617--$117,617
Interest$79,152--$79,152
Insurance$21,505--$21,505
Office Expenses$12,237--$12,237
Payroll Taxes$8,899--$8,899
Fees for Services Legal$7,826--$7,826
Fees for Services Accounting$5,910--$5,910
All Other Expenses$4,894--$4,894
Other Expenses$1,027--$1,027
Total Functional Expenses$556,481$0$0$556,481

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$556,481
Total Expenses per Audited Statements$556,481
Total Expenses per Form 990$556,481
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
Meter Deposits$66,824
Rounding$2
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
Yes
Conflict-of-interest policy
Yes
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

“The association has only one class of memebers. These members pay a membership fee and monthly fees based on water used by each member. Each member has a voting right in electing a management board that meets monthly to manage the affairs of the association. All meetings are open meetings and minutes as well as financial statements are presented. The management board have staggard terms and as one the term expires the memembership elects the replacement board members.”

Member election for additional members Part VI line 7A

“The association has only one class of memebers. These members pay a membership fee and monthly fees based on water used by each member. Each member has a voting right in electing a management board that meets monthly to manage the affairs of the association. All meetings are open meetings and minutes as well as financial statements are presented. The management board have staggard terms and as one the term expires the memembership elects the replacement board members.”

Form 990 governing body review Part VI line 11

“Upon preparation of the form 990 it is presented at the monthly board meeting and reviewed for submission.”

Conflict of interest policy compliance Part VI line 12C

“The board does not officially have a signed conflict of interest policy by board members that have management authority but make it a practice not to refrain from doing business with anyone that is on the board.”

Other officer or key employee compensation Part VI line 15B

“Officers receive no compensation other than expense reimbursements which are very nominal. Salaries for key employees are set by the management board.”

Governing documents etc available to public Part VI line 19

“Copies of the audited financial statements are made at individual request at the association office as well as a copy being placed on file at the local public library.”

Filing and Contact Details

Filer

Filer Name
Freeny Water Association
EIN
62-1373723
Address
1411 HWY 35 SOUTH, Carthage, MS 39051

Signing Officer

Name
H V Neal
Title
President
Phone
6012678266
Signed
2015-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
H V Neal Jr
Formed
1968
Legal Domicile
Ms
Voting Board Members
1,984
Independent Board Members
1,984
Employees
5

Preparer

Firm
David M Howell CPA Pa
Address
P O BOX 553, CARTHAGE, MS 39051
Preparer
David M Howell CPA
Phone
6012673066
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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/ExplanationTxt0THE ASSOCIATION HAS ONLY ONE CLASS OF MEMEBERS. THESE MEMBERS PAY A MEMBERSHIP FEE AND MONTHLY FEES BASED ON WATER USED BY EACH MEMBER. EACH MEMBER HAS A VOTING RIGHT IN ELECTING A MANAGEMENT BOARD THAT MEETS MONTHLY TO MANAGE THE AFFAIRS OF THE ASSOCIATION. ALL MEETINGS ARE OPEN MEETINGS AND MINUTES AS WELL AS FINANCIAL STATEMENTS ARE PRESENTED. THE MANAGEMENT BOARD HAVE STAGGARD TERMS AND AS ONE THE TERM EXPIRES THE MEMEMBERSHIP ELECTS THE REPLACEMENT BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION HAS ONLY ONE CLASS OF MEMEBERS. THESE MEMBERS PAY A MEMBERSHIP FEE AND MONTHLY FEES BASED ON WATER USED BY EACH MEMBER. EACH MEMBER HAS A VOTING RIGHT IN ELECTING A MANAGEMENT BOARD THAT MEETS MONTHLY TO MANAGE THE AFFAIRS OF THE ASSOCIATION. ALL MEETINGS ARE OPEN MEETINGS AND MINUTES AS WELL AS FINANCIAL STATEMENTS ARE PRESENTED. THE MANAGEMENT BOARD HAVE STAGGARD TERMS AND AS ONE THE TERM EXPIRES THE MEMEMBERSHIP ELECTS THE REPLACEMENT BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON PREPARATION OF THE FORM 990 IT IS PRESENTED AT THE MONTHLY BOARD MEETING AND REVIEWED FOR SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD DOES NOT OFFICIALLY HAVE A SIGNED CONFLICT OF INTEREST POLICY BY BOARD MEMBERS THAT HAVE MANAGEMENT AUTHORITY BUT MAKE IT A PRACTICE NOT TO REFRAIN FROM DOING BUSINESS WITH ANYONE THAT IS ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OFFICERS RECEIVE NO COMPENSATION OTHER THAN EXPENSE REIMBURSEMENTS WHICH ARE VERY NOMINAL. SALARIES FOR KEY EMPLOYEES ARE SET BY THE MANAGEMENT BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE MADE AT INDIVIDUAL REQUEST AT THE ASSOCIATION OFFICE AS WELL AS A COPY BEING PLACED ON FILE AT THE LOCAL PUBLIC LIBRARY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03465222
IRS990/TotalAssetsEOYAmt03387240
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IRS990/TotalAssetsGrp/EOYAmt03387240
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IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0556481
IRS990/TotalFunctionalExpensesGrp/TotalAmt0556481
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01997862
IRS990/TotalLiabilitiesEOYAmt01853504
IRS990/TotalLiabilitiesGrp/BOYAmt01997862
IRS990/TotalLiabilitiesGrp/EOYAmt01853504
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01467360
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01533736
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0556481
IRS990/TotalProgramServiceRevenueAmt0620244
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0622857
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0622857
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03465222
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03387240
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01467360
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01533736
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0546 JOHN IVY ROAD
IRS990/USAddress/CityNm0Carthage
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd039051
IRS990/VotingMembersGoverningBodyCnt01984
IRS990/VotingMembersIndependentCnt01984
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0H V Neal
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06012678266
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-09-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREENY WATER ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0FREN
ReturnHeader/Filer/EIN0621373723
ReturnHeader/Filer/USAddress/AddressLine1Txt01411 HWY 35 SOUTH
ReturnHeader/Filer/USAddress/CityNm0Carthage
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd039051
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271398365
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAVID M HOWELL CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 553
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CARTHAGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd039051
ReturnHeader/PreparerPersonGrp/PhoneNum06012673066
ReturnHeader/PreparerPersonGrp/PreparationDt02015-10-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0David M Howell CPA
ReturnHeader/ReturnTs02015-10-02T11:03:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$3,387,240
Liabilities
$1,853,504
Net assets
$1,533,736
Revenue
$622,857
Expenses
$556,481
Net income
$66,376
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.80$0.43$2.37$0.77$0.61$0.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.79$0.58$2.21$0.76$0.61$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.81$0.75$2.06$0.66$0.59$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.91$0.92$1.99$0.66$0.57$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.98$1.08$1.90$0.66$0.59$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.06$1.23$1.83$0.66$0.55$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.17$1.45$1.72$0.64$0.55$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.24$1.60$1.63$0.64$0.59$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.30$1.72$1.58$0.60$0.56$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.39$1.85$1.53$0.62$0.56$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.47$2.00$1.47$0.60$0.58$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.57$2.13$1.44$0.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.79$2.25$1.54$0.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.95$2.37$1.58$0.64
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)12 • $1M-$5M nonprofits