Civic Intelligence

Belforest Water Systems Inc

990 • Fiscal year 2017 • EIN 63-0649171

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 14, 2018

Organization ProfileN/A
9080 County Road 64Daphne, AL 36526

(251) 626-5554

Siviq Scores

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

Liabilities / Assets

28th percentile

0.18x

Higher debt load relative to assets than 28% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

43rd percentile

1.08x

Higher debt load relative to revenue than 43% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Net Margin

92nd percentile

29%

Higher net margin than 92% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

26th percentile

$3,550

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2017

Asset Growth

87th percentile

9.6%

Faster asset growth than 87% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-6.6%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$12,885,817

Up $1,130,636 (+9.6%) from 2016

Net Assets

Up

$10,589,092

Up $611,502 (+6.1%) from 2016

Liabilities

Up

$2,296,725

Up $519,134 (+29%) from 2016

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin92nd percentile

Revenue

Down

$2,122,072

Down $150,073 (-6.6%) from 2016

Expenses

Up

$1,510,570

Up $71,204 (+4.9%) from 2016

Net Income

Down

$611,502

Down $221,277 (-27%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$40M$30M$20M$10M$0Assets 2010: $6,075,253Liabilities 2010: $694,269Net Assets 2010: $5,380,9842010Assets 2011: $6,552,430Liabilities 2011: $655,918Net Assets 2011: $5,896,5122011Assets 2012: $8,459,355Liabilities 2012: $788,087Net Assets 2012: $7,671,2682012Assets 2013: $10,704,284Liabilities 2013: $2,476,423Net Assets 2013: $8,227,8612013Assets 2014: $10,823,206Liabilities 2014: $2,300,158Net Assets 2014: $8,523,0482014Assets 2015: $11,172,712Liabilities 2015: $2,027,900Net Assets 2015: $9,144,8122015Assets 2016: $11,755,181Liabilities 2016: $1,777,591Net Assets 2016: $9,977,5902016Assets 2017: $12,885,817Liabilities 2017: $2,296,725Net Assets 2017: $10,589,0922017Assets 2018: $13,247,727Liabilities 2018: $1,895,520Net Assets 2018: $11,352,2072018Assets 2019: $13,867,755Liabilities 2019: $1,377,104Net Assets 2019: $12,490,6512019Assets 2020: $14,889,126Liabilities 2020: $929,494Net Assets 2020: $13,959,6322020Assets 2021: $16,714,565Liabilities 2021: $1,425,524Net Assets 2021: $15,289,0412021Assets 2022: $19,102,556Liabilities 2022: $2,778,239Net Assets 2022: $16,324,3172022Assets 2023: $25,986,872Liabilities 2023: $7,870,451Net Assets 2023: $18,116,4212023Assets 2024: $30,360,315Liabilities 2024: $11,115,528Net Assets 2024: $19,244,7872024

Highlighted filing

2017

Assets$12,885,817
Liabilities$2,296,725
Net Assets$10,589,092
Open 2017 Filing

Operations Trend

Revenue Growth11th percentile

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

$6.0M$4.0M$2.0M$0Expenses 2010: $789,2612010Expenses 2011: $908,6342011Expenses 2012: $1,039,2142012Revenue 2013: $1,720,802Expenses 2013: $1,164,209Net Income 2013: $556,5932013Revenue 2014: $1,625,773Expenses 2014: $1,328,624Net Income 2014: $297,1492014Revenue 2015: $1,968,581Expenses 2015: $1,346,817Net Income 2015: $621,7642015Revenue 2016: $2,272,145Expenses 2016: $1,439,366Net Income 2016: $832,7792016Revenue 2017: $2,122,072Expenses 2017: $1,510,570Net Income 2017: $611,5022017Revenue 2018: $2,401,486Expenses 2018: $1,638,371Net Income 2018: $763,1152018Revenue 2019: $3,271,433Expenses 2019: $2,132,989Net Income 2019: $1,138,4442019Revenue 2020: $3,586,272Expenses 2020: $2,117,291Net Income 2020: $1,468,9812020Revenue 2021: $3,578,733Expenses 2021: $2,249,324Net Income 2021: $1,329,4092021Revenue 2022: $3,622,088Expenses 2022: $2,321,018Net Income 2022: $1,301,0702022Revenue 2023: $4,063,774Expenses 2023: $2,271,670Net Income 2023: $1,792,1042023Revenue 2024: $5,076,930Expenses 2024: $3,355,600Net Income 2024: $1,721,3302024

Highlighted filing

2017

Revenue$2,122,072
Expenses$1,510,570
Net Income$611,502
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 14, 2018
Return Version
2017v2.2
Gross Receipts
$2,122,072
Mission and Program Overview

Mission

To provide water service to the community of belforest, baldwin co., al.

To provide water service to the community of belforest, baldwin co, al

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,453,451$10,357,441▲ $1,903,990
Cash and Non-Interest-Bearing Accounts$2,536,340$2,297,956▼ $238,384
Accounts Receivable$118,697$102,112▼ $16,585
Prepaid Expenses and Deferred Charges$51,201$45,059▼ $6,142
Total Assets$11,755,181$12,885,817▲ $1,130,636
Other Assets Total$595,492$83,249▼ $512,243
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,596,045$2,083,431▲ $487,386
Other Liabilities$174,046$200,725▲ $26,679
Accounts Payable and Accrued Expenses$7,500$12,569▲ $5,069
Total Liabilities$1,777,591$2,296,725▲ $519,134
Net Assets / Fund Balance
Unrestricted Net Assets$9,977,590$10,589,092▲ $611,502
Total Net Assets Fund Balance$9,977,590$10,589,092▲ $611,502
Total Liabilities and Net Assets / Fund Balance$11,755,181$12,885,817▲ $1,130,636

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$239,906$95,405-
Other Land Buildings$9,640,088$2,599,839-
Land$379,320--
Equipment$98,127$817,179-
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleBaseTotal
Charles DubePresident$3,550$3,550
James McfallVice President$3,300$3,300
Daryl CleworthSec/treas$2,650$2,650
Mackie GarrettBoard Member$2,600$2,600
Rudd SchultzePresident$1,800$1,800
Patrick HeiterBoard Member$800$800
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,116,663
Investment Income
$5,409
Other Revenue
$0
Change in Net Assets
$611,502

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,122,072
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,122,072
Total Revenue per Form 990
$2,122,072
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,110,454
Salaries, Compensation, and Employee Benefits$400,116
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$345,867--$345,867
Depreciation Depletion$342,472--$342,472
Insurance$168,845--$168,845
All Other Expenses$93,543--$93,543
Interest$68,209--$68,209
Other Expenses$49,938--$49,938
Office Expenses$35,914--$35,914
Payroll Taxes$26,744--$26,744
Fees for Services Accounting$15,975--$15,975
Comp Disqual Persons$14,700--$14,700
Fees for Services Legal$13,497--$13,497
Pension Plan Contributions$12,805--$12,805
Fees for Services Other$3,769--$3,769
Conferences and Meetings$1,953--$1,953
Total Functional Expenses$1,510,570$0$0$1,510,570

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,510,570
Total Expenses per Audited Statements$1,510,570
Total Expenses per Form 990$1,510,570
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
Meter Deposits$200,725
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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

Form 990, Part VI, Section A, Line 6

“The customers are considered members.”

Form 990, Part VI, Section A, Line 7A

“Members vote for vacant board of director positions at the annual meeting. Each board member serves a three year term.”

Form 990, Part VI, Section A, Line 8B

“THERE ARE NO COMMITTEES.”

Form 990, Part VI, Section B, Line 11B

“The board of directors reviewed the draft of the 990 along with accountant who prepared the form.”

Form 990, Part VI, Section C, Line 19

“Financial statements are furnished to customers at the annual meeting and upon request.”

Filing and Contact Details

Filer

Filer Name
Belforest Water System Inc
EIN
63-0649171
Phone
2516265554
Address
9080 COUNTY ROAD 64, DAPHNE, AL 36526

Signing Officer

Name
Charles Dube
Title
President
Phone
2516265554
Signed
2018-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Dube
Formed
1972
Legal Domicile
Al
Voting Board Members
5
Independent Board Members
5
Employees
10
Volunteers
0

Preparer

Firm
Johnson Slaughter Driver & Northcutt Pa
Address
PO BOX 489, FOLEY, AL 36536-0489
Preparer
Carl E Johnson CPA
Phone
2519431565
Raw XML Appendix366 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/LandGrp/InvestmentCostOrOtherBasisAmt0379320
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09640088
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02599839
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt012239927
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0200725
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0METER DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02122072
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010357441
IRS990ScheduleD/TotalExpensesPerForm990Amt01510570
IRS990ScheduleD/TotalLiabilityAmt0200725
IRS990ScheduleD/TotalRevenuePerForm990Amt02122072
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02122072
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01510570
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CUSTOMERS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS VOTE FOR VACANT BOARD OF DIRECTOR POSITIONS AT THE ANNUAL MEETING. EACH BOARD MEMBER SERVES A THREE YEAR TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWED THE DRAFT OF THE 990 ALONG WITH ACCOUNTANT WHO PREPARED THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FINANCIAL STATEMENTS ARE FURNISHED TO CUSTOMERS AT THE ANNUAL MEETING AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011755181
IRS990/TotalAssetsEOYAmt012885817
IRS990/TotalAssetsGrp/BOYAmt011755181
IRS990/TotalAssetsGrp/EOYAmt012885817
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01510570
IRS990/TotalFunctionalExpensesGrp/TotalAmt01510570
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01777591
IRS990/TotalLiabilitiesEOYAmt02296725
IRS990/TotalLiabilitiesGrp/BOYAmt01777591
IRS990/TotalLiabilitiesGrp/EOYAmt02296725
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09977590
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010589092
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01510570
IRS990/TotalProgramServiceRevenueAmt02116663
IRS990/TotalReportableCompFromOrgAmt014700
IRS990/TotalRevenueGrp/ExclusionAmt05409
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02116663
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02122072
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011755181
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012885817
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt09977590
IRS990/UnrestrictedNetAssetsGrp/EOYAmt010589092
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09080 COUNTY ROAD 64
IRS990/USAddress/CityNm0DAPHNE
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd036526
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES DUBE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02516265554
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELFOREST WATER SYSTEM INC
ReturnHeader/Filer/BusinessNameControlTxt0BELF
ReturnHeader/Filer/EIN0630649171
ReturnHeader/Filer/PhoneNum02516265554
ReturnHeader/Filer/USAddress/AddressLine1Txt09080 COUNTY ROAD 64
ReturnHeader/Filer/USAddress/CityNm0DAPHNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd036526
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B167F72ED951B7847247AD6A0D8C4BCC98627745
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B167F72ED951B7847247AD6A0D8C4BCC98627745
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.85.202.210
ReturnHeader/FilingSecurityInformation/IPDt02018-03-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:06:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0630588313
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHNSON SLAUGHTER DRIVER & NORTHCUTT PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 489
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOLEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0365360489
ReturnHeader/PreparerPersonGrp/PhoneNum02519431565
ReturnHeader/PreparerPersonGrp/PreparationDt02018-03-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CARL E JOHNSON CPA
ReturnHeader/ReturnTs02018-03-22T13:29:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,885,817
Liabilities
$2,296,725
Net assets
$10,589,092
Revenue
$2,122,072
Expenses
$1,510,570
Net income
$611,502
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.4$11.1$19.2$5.08$3.36$1.72
2023Detailed filing. Detailed filing data is available for this year.$26.0$7.87$18.1$4.06$2.27$1.79
2022Detailed filing. Detailed filing data is available for this year.$19.1$2.78$16.3$3.62$2.32$1.30
2021Detailed filing. Detailed filing data is available for this year.$16.7$1.43$15.3$3.58$2.25$1.33
2020Detailed filing. Detailed filing data is available for this year.$14.9$0.93$14.0$3.59$2.12$1.47
2019Detailed filing. Detailed filing data is available for this year.$13.9$1.38$12.5$3.27$2.13$1.14
2018Detailed filing. Detailed filing data is available for this year.$13.2$1.90$11.4$2.40$1.64$0.76
2017Detailed filing. Detailed filing data is available for this year.$12.9$2.30$10.6$2.12$1.51$0.61
2016Detailed filing. Detailed filing data is available for this year.$11.8$1.78$9.98$2.27$1.44$0.83
2015Detailed filing. Detailed filing data is available for this year.$11.2$2.03$9.14$1.97$1.35$0.62
2014Detailed filing. Detailed filing data is available for this year.$10.8$2.30$8.52$1.63$1.33$0.30
2013Detailed filing. Detailed filing data is available for this year.$10.7$2.48$8.23$1.72$1.16$0.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.46$0.79$7.67$1.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.55$0.66$5.90$0.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.08$0.69$5.38$0.79