Civic Intelligence

Belforest Water Systems Inc

990 • Fiscal year 2019 • EIN 63-0649171

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 20, 2020

Organization ProfileWWW.BELFORESTWATER.COM
9080 County Road 64Daphne, AL 36526

(025) 162-6555

Siviq Scores

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

Liabilities / Assets

20th percentile

0.10x

Higher debt load relative to assets than 20% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

21st percentile

0.42x

Higher debt load relative to revenue than 21% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Net Margin

92nd percentile

35%

Higher net margin than 92% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

33rd percentile

$3,600

Higher top officer pay than 33% of similar nonprofits.

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

2019 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2019

Asset Growth

70th percentile

4.7%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

36%

Faster revenue growth than 96% of similar nonprofits.

2019 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$13,867,755

Up $620,028 (+4.7%) from 2018

Net Assets

Up

$12,490,651

Up $1,138,444 (+10%) from 2018

Liabilities

Down

$1,377,104

Down $518,416 (-27%) from 2018

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin92nd percentile

Revenue

Up

$3,271,433

Up $869,947 (+36%) from 2018

Expenses

Up

$2,132,989

Up $494,618 (+30%) from 2018

Net Income

Up

$1,138,444

Up $375,329 (+49%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2019

Assets$13,867,755
Liabilities$1,377,104
Net Assets$12,490,651
Open 2019 Filing

Operations Trend

Revenue Growth96th 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

2019

Revenue$3,271,433
Expenses$2,132,989
Net Income$1,138,444
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 20, 2020
Return Version
2019v5.0
Gross Receipts
$3,271,433
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 in baldwin county, alabama

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,143,337$10,159,605▲ $16,268
Savings and Temporary Cash Investments$2,354,976$2,844,312▲ $489,336
Cash and Non-Interest-Bearing Accounts$275,427$231,098▼ $44,329
Accounts Receivable$117,287$135,612▲ $18,325
Prepaid Expenses and Deferred Charges$127,673$125,906▼ $1,767
Total Assets$13,247,727$13,867,755▲ $620,028
Other Assets Total$229,027$371,222▲ $142,195
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,619,685$1,074,190▼ $545,495
Other Liabilities$229,306$239,848▲ $10,542
Accounts Payable and Accrued Expenses$46,529$63,066▲ $16,537
Total Liabilities$1,895,520$1,377,104▼ $518,416
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,352,207$12,490,651▲ $1,138,444
Total Net Assets Fund Balance$11,352,207$12,490,651▲ $1,138,444
Total Liabilities and Net Assets / Fund Balance$13,247,727$13,867,755▲ $620,028

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,548,155$3,634,638$13,182,793
Land$379,320-$379,320
Buildings$232,130$120,476$352,606
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleBaseTotal
Charles DubePresident$3,600$3,600
James McfallVice Preside$3,000$3,000
Daryl CleworthSec/treas$2,500$2,500
James GarrettBoard Member$2,400$2,400
Patrick HeiterBoard Member$1,800$1,800
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,264,735
Investment Income
$6,698
Other Revenue
$0
Change in Net Assets
$1,138,444

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,271,433
Total Revenue per Audited Statements
$3,271,433
Total Revenue per Form 990
$3,271,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,536,038
Salaries, Compensation, and Employee Benefits$596,951
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$519,935
Depreciation Depletion---$367,700
All Other Expenses---$253,805
Insurance---$209,856
Other Expenses---$105,874
Interest---$46,406
Payroll Taxes---$40,016
Office Expenses---$28,994
Pension Plan Contributions---$23,700
Fees for Services Accounting---$15,125
Comp Disqual Persons---$13,300
Fees for Services Legal---$8,033
Fees for Services Other---$4,113
Total Functional Expenses$0$0$0$2,132,989

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,132,989
Total Expenses per Audited Statements$2,132,989
Total Expenses per Form 990$2,132,989
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$239,848
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
No
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

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

“Members of the water system elect board members at the annual meeting. Each board member serves a three year term.”

Form 990, Page 6, Part VI, Line 8B

“THERE ARE NO COMMITTEES”

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

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

Form 990, Page 6, Part VI, Line 19

“Financial statements are furnished to customers at the annual meeting. Financial statements are also available for review upon request.”

Filing and Contact Details

Filer

Filer Name
Belforest Water System Inc
EIN
63-0649171
Phone
0251626555
Address
9080 COUNTY ROAD 64, DAPHNE, AL 36526

Signing Officer

Name
Charles Dube
Title
President
Phone
2516265554
Signed
2020-03-20

Organization Details

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

Preparer

Firm
Johnson Slaughter Driver & Northcutt Pa
Address
PO BOX 489, FOLEY, AL 36536
Preparer
Rian M Turner CPA
Phone
2519431565
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Owns and operates a water distribution system in the community of belforest”

Form 990, Part IX, Line 24E

“Engineering 76,975 0 0 chemicals/water treatment 55,713 0 0 vehicle expense 19,809 0 0 miscellaneous 14,809 0 0 computer 13,954 0 0 bank fees 12,297 0 0 customer service 11,975 0 0 uniforms 10,149 0 0 community involvment 6,470 0 0 meals and entertainment 5,482 0 0 tools 5,137 0 0 court reporter 3,616 0 0 employee safety 3,026 0 0 rental 2,933 0 0 bad debt 2,629 0 0 continuing education 2,435 0 0 dues and subscriptions 2,359 0 0 security 2,229 0 0 taxes and licenses 1,808 0 0 total 253,805 0 0”

Raw XML Appendix330 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/ExplanationTxt0OWNS AND OPERATES A WATER DISTRIBUTION SYSTEM IN THE COMMUNITY OF BELFOREST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE WATER SYSTEM ELECT BOARD MEMBERS 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 FORM 990 ALONG WITH THE ACCOUNTANT WHO PREPARED THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FINANCIAL STATEMENTS ARE FURNISHED TO CUSTOMERS AT THE ANNUAL MEETING. FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ENGINEERING 76,975 0 0 CHEMICALS/WATER TREATMENT 55,713 0 0 VEHICLE EXPENSE 19,809 0 0 MISCELLANEOUS 14,809 0 0 COMPUTER 13,954 0 0 BANK FEES 12,297 0 0 CUSTOMER SERVICE 11,975 0 0 UNIFORMS 10,149 0 0 COMMUNITY INVOLVMENT 6,470 0 0 MEALS AND ENTERTAINMENT 5,482 0 0 TOOLS 5,137 0 0 COURT REPORTER 3,616 0 0 EMPLOYEE SAFETY 3,026 0 0 RENTAL 2,933 0 0 BAD DEBT 2,629 0 0 CONTINUING EDUCATION 2,435 0 0 DUES AND SUBSCRIPTIONS 2,359 0 0 SECURITY 2,229 0 0 TAXES AND LICENSES 1,808 0 0 TOTAL 253,805 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 24E
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt013247727
IRS990/TotalAssetsEOYAmt013867755
IRS990/TotalAssetsGrp/BOYAmt013247727
IRS990/TotalAssetsGrp/EOYAmt013867755
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02132989
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01895520
IRS990/TotalLiabilitiesEOYAmt01377104
IRS990/TotalLiabilitiesGrp/BOYAmt01895520
IRS990/TotalLiabilitiesGrp/EOYAmt01377104
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011352207
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012490651
IRS990/TotalProgramServiceRevenueAmt03264735
IRS990/TotalReportableCompFromOrgAmt013300
IRS990/TotalRevenueGrp/ExclusionAmt06698
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03264735
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03271433
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013247727
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013867755
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09080 COUNTY ROAD 64
IRS990/USAddress/CityNm0DAPHNE
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd036526
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.BELFORESTWATER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES DUBE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02516265554
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELFOREST WATER SYSTEM INC
ReturnHeader/Filer/BusinessNameControlTxt0BELF
ReturnHeader/Filer/EIN0630649171
ReturnHeader/Filer/PhoneNum00251626555
ReturnHeader/Filer/USAddress/AddressLine1Txt09080 COUNTY ROAD 64
ReturnHeader/Filer/USAddress/CityNm0DAPHNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd036526
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0132F9D38289C9A39BFA134D1F1B6D0EE7D0943A4
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F26C224748DFA297029C951659F2568210B2DC5D
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.85.202.210
ReturnHeader/FilingSecurityInformation/IPDt02020-03-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:43:20
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/ZIPCd036536
ReturnHeader/PreparerPersonGrp/PhoneNum02519431565
ReturnHeader/PreparerPersonGrp/PreparationDt02020-03-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RIAN M TURNER CPA
ReturnHeader/ReturnTs02020-03-21T11:43:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,867,755
Liabilities
$1,377,104
Net assets
$12,490,651
Revenue
$3,271,433
Expenses
$2,132,989
Net income
$1,138,444
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