Civic Intelligence

Freeny Water Association

990 • Fiscal year 2018 • EIN 62-1373723

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 08, 2018

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

73rd percentile

0.46x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

2.27x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Net Margin

68th percentile

13%

Higher net margin than 68% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

66th percentile

$720

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Asset Growth

28th percentile

-1.9%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

27th percentile

-0.2%

Faster revenue growth than 27% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$3,174,417

Down $61,206 (-1.9%) from 2017

Net Assets

Up

$1,720,064

Up $85,770 (+5.2%) from 2017

Liabilities

Down

$1,454,353

Down $146,976 (-9.2%) from 2017

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin68th percentile

Revenue

Down

$640,450

Down $1,594 (-0.2%) from 2017

Expenses

Down

$554,680

Down $34,578 (-5.9%) from 2017

Net Income

Up

$85,770

Up $32,984 (+62%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2018

Assets$3,174,417
Liabilities$1,454,353
Net Assets$1,720,064
Open 2018 Filing

Operations Trend

Revenue Growth27th 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

2018

Revenue$640,450
Expenses$554,680
Net Income$85,770
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 8, 2018
Return Version
2017v2.3
Gross Receipts
$640,450
Mission and Program Overview

Mission

Provides water for approximately two thousand members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,375,245$2,246,534▼ $128,711
Savings and Temporary Cash Investments$753,624$803,103▲ $49,479
Accounts Receivable$66,076$80,456▲ $14,380
Inventories for Sale or Use$24,276$29,975▲ $5,699
Prepaid Expenses and Deferred Charges$16,402$14,349▼ $2,053
Total Assets$3,235,623$3,174,417▼ $61,206
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,497,462$1,362,946▼ $134,516
Other Liabilities$67,589$68,107▲ $518
Accounts Payable and Accrued Expenses$36,278$23,300▼ $12,978
Total Liabilities$1,601,329$1,454,353▼ $146,976
Net Assets / Fund Balance
Unrestricted Net Assets$1,634,294$1,095,538▼ $538,756
Temporarily Rstr Net Assets-$624,526-
Total Net Assets Fund Balance$1,634,294$1,720,064▲ $85,770
Total Liabilities and Net Assets / Fund Balance$3,235,623$3,174,417▼ $61,206

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,189,378$2,764,281$4,953,659
Buildings$37,187$20,533$57,720
Land$19,969-$19,969
Leasehold Improvements-$12,300$12,300
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleBaseTotal
H V NealPresident$720$720
Kenneth ClaytonDirector$720$720
Leran EalyDirector$720$720
Linda TerrellSecretary$720$720
Philip CrosbyVice Preside$720$720
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$637,628
Investment Income
$2,822
Other Revenue
$0
Change in Net Assets
$85,770

Audited Revenue Reconciliation

Revenue per Audited Statements
$640,450
Total Revenue per Audited Statements
$640,450
Total Revenue per Form 990
$640,450
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$416,352
Salaries, Compensation, and Employee Benefits$138,328
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$128,395
Other Salaries and Wages---$124,762
Occupancy---$71,532
Interest---$59,474
Fees for Services Other---$31,766
Insurance---$23,496
Fees for Services Accounting---$13,600
Payroll Taxes---$9,966
Office Expenses---$9,679
All Other Expenses---$6,207
Other Expenses---$5,120
Current Officers, Directors, Trustees, and Key Employees---$3,600
Fees for Services Legal---$1,200
Advertising---$509
Total Functional Expenses$0$0$0$554,680

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$554,680
Total Expenses per Audited Statements$554,680
Total Expenses per Form 990$554,680
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$68,107
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
No
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 6

“The association has only one class of members. 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 has staggered terms and as one of the terms expires, the membership elects the replacement board member.”

Form 990, Page 6, Part VI, Line 7A

“The association has only one class of members. 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 has staggered terms and as one of the terms expires, the membership elects the replacement board member.”

Form 990, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 12C

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

Form 990, Page 6, 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.”

Form 990, Page 6, Part VI, Line 19

“Copies of audited financial statements are made available at individual request at the association office. Additionally, a copy is placed on file at the local library.”

Filing and Contact Details

Filer

Filer Name
Freeny Water Association
EIN
62-1373723
Phone
6012678266
Address
1411 HWY 35 SOUTH, CARTHAGE, MS 39051

Signing Officer

Name
H V Neal
Title
President
Phone
6012678266
Signed
2018-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
H V Neal
Formed
1968
Legal Domicile
Ms
Voting Board Members
2,017
Independent Board Members
2,017
Employees
3

Preparer

Firm
Watkins Ward and Stafford Pllc
Address
PO BOX 583, PHILADELPHIA, MS 39350
Preparer
Marsha L Mcdonald CPA
Phone
6016564252
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference 135”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 135”

Raw XML Appendix316 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/ExplanationTxt0THE ASSOCIATION HAS ONLY ONE CLASS OF MEMBERS. 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 HAS STAGGERED TERMS AND AS ONE OF THE TERMS EXPIRES, THE MEMBERSHIP ELECTS THE REPLACEMENT BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION HAS ONLY ONE CLASS OF MEMBERS. 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 HAS STAGGERED TERMS AND AS ONE OF THE TERMS EXPIRES, THE MEMBERSHIP ELECTS THE REPLACEMENT BOARD MEMBER.
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 THEY MAKE ITBN A PRACTICE TO REFRAIN FROM DOING BUSINESS WITH ANYONE WHO 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 AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE AT INDIVIDUAL REQUEST AT THE ASSOCIATION OFFICE. ADDITIONALLY, A COPY IS PLACED ON FILE AT THE LOCAL LIBRARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOOK / TAX DEPRECIATION DIFFERENCE 135
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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 XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0624526
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03235623
IRS990/TotalAssetsEOYAmt03174417
IRS990/TotalAssetsGrp/BOYAmt03235623
IRS990/TotalAssetsGrp/EOYAmt03174417
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0554680
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01601329
IRS990/TotalLiabilitiesEOYAmt01454353
IRS990/TotalLiabilitiesGrp/BOYAmt01601329
IRS990/TotalLiabilitiesGrp/EOYAmt01454353
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01634294
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01720064
IRS990/TotalProgramServiceExpensesAmt0554680
IRS990/TotalProgramServiceRevenueAmt0637628
IRS990/TotalReportableCompFromOrgAmt03600
IRS990/TotalRevenueGrp/ExclusionAmt02822
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0637628
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0640450
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03235623
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03174417
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01634294
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01095538
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0546 JOHN IVY RD
IRS990/USAddress/CityNm0CARTHAGE
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd039051
IRS990/VotingMembersGoverningBodyCnt02017
IRS990/VotingMembersIndependentCnt02017
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0H V NEAL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06012678266
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREENY WATER ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0621373723
ReturnHeader/Filer/PhoneNum06012678266
ReturnHeader/Filer/USAddress/AddressLine1Txt01411 HWY 35 SOUTH
ReturnHeader/Filer/USAddress/CityNm0CARTHAGE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd039051
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DC78558C52614148C6F4F0475E2F8185F4623FDC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0E9249F2532F03883A767BECB96D0454AA733E347
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.235.108.2
ReturnHeader/FilingSecurityInformation/IPDt02018-11-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:53:51
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0640394922
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WATKINS WARD AND STAFFORD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 583
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHILADELPHIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd039350
ReturnHeader/PreparerPersonGrp/PhoneNum06016564252
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARSHA L MCDONALD CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-11-14T13:53:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
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
$3,174,417
Liabilities
$1,454,353
Net assets
$1,720,064
Revenue
$640,450
Expenses
$554,680
Net income
$85,770
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
2018Detailed filing. Detailed filing data is available for this year.$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