Civic Intelligence

Belforest Water Systems Inc

990 • Fiscal year 2020 • EIN 63-0649171

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 22, 2021

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

(251) 626-5554

Siviq Scores

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

Liabilities / Assets

14th percentile

0.06x

Higher debt load relative to assets than 14% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.26x

Higher debt load relative to revenue than 15% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Net Margin

95th percentile

41%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

34th percentile

$3,300

Higher top officer pay than 34% of similar nonprofits.

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

2020 filings • 501(c)12 • $10M-$25M nonprofits • Source year 2020

Asset Growth

77th percentile

7.4%

Faster asset growth than 77% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

68th percentile

9.6%

Faster revenue growth than 68% of similar nonprofits.

2020 filings • 501(c)12 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$14,889,126

Up $1,021,371 (+7.4%) from 2019

Net Assets

Up

$13,959,632

Up $1,468,981 (+12%) from 2019

Liabilities

Down

$929,494

Down $447,610 (-33%) from 2019

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin95th percentile

Revenue

Up

$3,586,272

Up $314,839 (+9.6%) from 2019

Expenses

Down

$2,117,291

Down $15,698 (-0.7%) from 2019

Net Income

Up

$1,468,981

Up $330,537 (+29%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2020

Assets$14,889,126
Liabilities$929,494
Net Assets$13,959,632
Open 2020 Filing

Operations Trend

Revenue Growth68th 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

2020

Revenue$3,586,272
Expenses$2,117,291
Net Income$1,468,981
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 22, 2021
Return Version
2020v4.0
Gross Receipts
$3,586,272
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$10,159,605$9,849,471▼ $310,134
Savings and Temporary Cash Investments$2,844,312$4,045,596▲ $1,201,284
Cash and Non-Interest-Bearing Accounts$231,098$224,655▼ $6,443
Accounts Receivable$135,612$164,265▲ $28,653
Prepaid Expenses and Deferred Charges$125,906$107,293▼ $18,613
Total Assets$13,867,755$14,889,126▲ $1,021,371
Other Assets Total$371,222$497,846▲ $126,624
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,074,190$643,239▼ $430,951
Other Liabilities$239,848$265,355▲ $25,507
Accounts Payable and Accrued Expenses$63,066$20,900▼ $42,166
Total Liabilities$1,377,104$929,494▼ $447,610
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,490,651$13,959,632▲ $1,468,981
Total Net Assets Fund Balance$12,490,651$13,959,632▲ $1,468,981
Total Liabilities and Net Assets / Fund Balance$13,867,755$14,889,126▲ $1,021,371

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,422,665$4,145,653$13,568,318
Land$426,806-$426,806
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

NameTitleBaseTotal
Charles DubePresident$3,300$3,300
Daryl CleworthSecretary/tr$2,750$2,750
James McfallVice Preside$2,750$2,750
James GarrettMember$2,200$2,200
Patrick HeiterMember$2,200$2,200
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,578,331
Investment Income
$7,941
Other Revenue
$0
Change in Net Assets
$1,468,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,349,905
Salaries, Compensation, and Employee Benefits$767,386
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$767,377$19,098-$786,475
Other Salaries and Wages$377,821$179,227-$557,048
Depreciation Depletion$382,228$8,312-$390,540
Other Employee Benefits$81,027$46,140-$127,167
Insurance$92,436$4,865-$97,301
Payroll Taxes$30,249$13,711-$43,960
Interest$29,760--$29,760
Pension Plan Contributions$21,225$4,786-$26,011
Office Expenses$19,377$5,982-$25,359
Fees for Services Accounting$16,675--$16,675
Current Officers, Directors, Trustees, and Key Employees-$13,200-$13,200
Fees for Services Legal$3,795--$3,795
Total Functional Expenses$1,821,970$295,321$0$2,117,291
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$265,355
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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

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

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

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Belforest Water Systems Inc
EIN
63-0649171
Address
9080 COUNTY RD 64, DAPHNE, AL 36526

Signing Officer

Name
Charles Dube
Title
President
Signed
2021-03-22
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Grant Sanders & Taylor Pc
Address
PO BOX 2109, GULF SHORES, AL 36547-2109
Preparer
Rian M Turner
Phone
2519682727
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 11G

“Board related expenses 0 3,040 0 community involvement 0 5,700 0 repairs & maintenance 127,558 7,098 0 utilities 83,942 3,260 0 bad debts 2,472 0 0 bank fees 12,076 0 0 billing service 12,106 0 0 chemicals & testing 48,298 0 0 computer & software 15,577 0 0 dues 3,003 0 0 misc. Employee exp- training 4,957 0 0 engineering fees 12,286 0 0 meetings 2,681 0 0 meters 251,113 0 0 miscellaneous 10,529 0 0 rental 3,195 0 0 security 1,400 0 0 small tools 3,697 0 0 taxes and licenses 1,418 0 0 telephone 18,137 0 0 truck expenses 17,346 0 0 uniforms 11,745 0 0 well exploratory costs 123,841 0 0 total 767,377 19,098 0”

Raw XML Appendix314 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/ExplanationTxt1MEMBERS OF THE WATER SYSTEM ELECT BOARD MEMBERS AT THE ANNUAL MEETING VIA A VOTE OF THE MEMBERSHIP. EACH BOARD MEMBER SERVES A THREE YEAR TERM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD RELATED EXPENSES 0 3,040 0 COMMUNITY INVOLVEMENT 0 5,700 0 REPAIRS & MAINTENANCE 127,558 7,098 0 UTILITIES 83,942 3,260 0 BAD DEBTS 2,472 0 0 BANK FEES 12,076 0 0 BILLING SERVICE 12,106 0 0 CHEMICALS & TESTING 48,298 0 0 COMPUTER & SOFTWARE 15,577 0 0 DUES 3,003 0 0 MISC. EMPLOYEE EXP- TRAINING 4,957 0 0 ENGINEERING FEES 12,286 0 0 MEETINGS 2,681 0 0 METERS 251,113 0 0 MISCELLANEOUS 10,529 0 0 RENTAL 3,195 0 0 SECURITY 1,400 0 0 SMALL TOOLS 3,697 0 0 TAXES AND LICENSES 1,418 0 0 TELEPHONE 18,137 0 0 TRUCK EXPENSES 17,346 0 0 UNIFORMS 11,745 0 0 WELL EXPLORATORY COSTS 123,841 0 0 TOTAL 767,377 19,098 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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt013867755
IRS990/TotalAssetsEOYAmt014889126
IRS990/TotalAssetsGrp/BOYAmt013867755
IRS990/TotalAssetsGrp/EOYAmt014889126
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0295321
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01821970
IRS990/TotalFunctionalExpensesGrp/TotalAmt02117291
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01377104
IRS990/TotalLiabilitiesEOYAmt0929494
IRS990/TotalLiabilitiesGrp/BOYAmt01377104
IRS990/TotalLiabilitiesGrp/EOYAmt0929494
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012490651
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt013959632
IRS990/TotalProgramServiceRevenueAmt03578331
IRS990/TotalReportableCompFromOrgAmt013200
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03586272
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03586272
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013867755
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt014889126
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES DUBE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELFOREST WATER SYSTEMS INC
ReturnHeader/Filer/BusinessNameControlTxt0BELF
ReturnHeader/Filer/EIN0630649171
ReturnHeader/Filer/USAddress/AddressLine1Txt09080 COUNTY RD 64
ReturnHeader/Filer/USAddress/CityNm0DAPHNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd036526
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0631194872
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRANT SANDERS & TAYLOR PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2109
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GULF SHORES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0365472109
ReturnHeader/PreparerPersonGrp/PhoneNum02519682727
ReturnHeader/PreparerPersonGrp/PreparationDt02021-03-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RIAN M TURNER
ReturnHeader/ReturnTs02021-03-25T15:51:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHARLES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DUBE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,889,126
Liabilities
$929,494
Net assets
$13,959,632
Revenue
$3,586,272
Expenses
$2,117,291
Net income
$1,468,981
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