Civic Intelligence

Westover Water Association Inc Westover Water Association

990 • Fiscal year 2020 • EIN 64-0468112

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 19, 2021

Organization Profile
39 Cr 105Oxford, MS 38655

(662) 234-4199

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.56x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

95th percentile

6.19x

Higher debt load relative to revenue than 95% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Net Margin

40th percentile

2.7%

Higher net margin than 40% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

63rd percentile

$0

Higher top officer pay than 63% of similar nonprofits.

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

2020 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2020

Asset Growth

39th percentile

-0.7%

Faster asset growth than 39% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-68%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$3,860,627

Down $26,323 (-0.7%) from 2019

Net Assets

Up

$1,693,170

Up $9,417 (+0.6%) from 2019

Liabilities

Down

$2,167,457

Down $35,740 (-1.6%) from 2019

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin40th percentile

Revenue

Down

$350,178

Down $737,987 (-68%) from 2019

Expenses

Down

$340,761

Down $105,453 (-24%) from 2019

Net Income

Down

$9,417

Down $632,534 (-99%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $2,384,863Liabilities 2011: $1,347,950Net Assets 2011: $1,036,9132011Assets 2012: $2,538,209Liabilities 2012: $1,490,935Net Assets 2012: $1,047,2742012Assets 2013: $2,331,022Liabilities 2013: $1,314,727Net Assets 2013: $1,016,2952013Assets 2014: $2,273,534Liabilities 2014: $1,297,447Net Assets 2014: $976,0872014Assets 2015: $2,263,547Liabilities 2015: $1,271,254Net Assets 2015: $992,2932015Assets 2016: $2,244,548Liabilities 2016: $1,248,054Net Assets 2016: $996,4942016Assets 2017: $2,305,920Liabilities 2017: $1,223,809Net Assets 2017: $1,082,1112017Assets 2018: $3,562,014Liabilities 2018: $2,505,275Net Assets 2018: $1,056,7392018Assets 2019: $3,886,950Liabilities 2019: $2,203,197Net Assets 2019: $1,683,7532019Assets 2020: $3,860,627Liabilities 2020: $2,167,457Net Assets 2020: $1,693,1702020Assets 2021: $3,759,969Liabilities 2021: $2,131,306Net Assets 2021: $1,628,6632021Assets 2022: $3,685,248Liabilities 2022: $2,083,903Net Assets 2022: $1,601,3452022Assets 2023: $3,639,291Liabilities 2023: $2,048,628Net Assets 2023: $1,590,6632023Assets 2024: $3,781,097Liabilities 2024: $1,982,450Net Assets 2024: $1,798,6472024Assets 2025: $4,030,700Liabilities 2025: $1,934,427Net Assets 2025: $2,096,2732025

Highlighted filing

2020

Assets$3,860,627
Liabilities$2,167,457
Net Assets$1,693,170
Open 2020 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $246,337Expenses 2011: $243,327Net Income 2011: $3,0102011Revenue 2012: $268,387Expenses 2012: $251,205Net Income 2012: $17,1822012Revenue 2013: $231,719Expenses 2013: $262,698Net Income 2013: -$30,9792013Revenue 2014: $263,461Expenses 2014: $303,669Net Income 2014: -$40,2082014Revenue 2015: $276,932Expenses 2015: $260,726Net Income 2015: $16,2062015Revenue 2016: $267,260Expenses 2016: $263,059Net Income 2016: $4,2012016Revenue 2017: $368,438Expenses 2017: $282,821Net Income 2017: $85,6172017Revenue 2018: $283,302Expenses 2018: $308,674Net Income 2018: -$25,3722018Revenue 2019: $1,088,165Expenses 2019: $446,214Net Income 2019: $641,9512019Revenue 2020: $350,178Expenses 2020: $340,761Net Income 2020: $9,4172020Revenue 2021: $280,413Expenses 2021: $344,920Net Income 2021: -$64,5072021Revenue 2022: $313,370Expenses 2022: $340,688Net Income 2022: -$27,3182022Revenue 2023: $337,295Expenses 2023: $349,097Net Income 2023: -$11,8022023Revenue 2024: $558,306Expenses 2024: $350,482Net Income 2024: $207,8242024Revenue 2025: $706,991Expenses 2025: $409,395Net Income 2025: $297,5962025

Highlighted filing

2020

Revenue$350,178
Expenses$340,761
Net Income$9,417
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 19, 2021
Return Version
2020v4.0
Gross Receipts
$350,178
Mission and Program Overview

Mission

To provide safe drinking water to rural consumers

Provide safe drinking water to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,517,623$3,391,542▼ $126,081
Rtn Earn Endowment Incm Other Fnds$1,676,932$1,686,349▲ $9,417
Cash and Non-Interest-Bearing Accounts$347,650$451,603▲ $103,953
Accounts Receivable$19,048$14,765▼ $4,283
Pd in Cap Srpls Land Bldg Eqp Fund$6,821$6,821→ $0
Prepaid Expenses and Deferred Charges$1,629$1,717▲ $88
Total Assets$3,886,950$3,860,627▼ $26,323
Other Assets Total$1,000$1,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,172,751$2,130,645▼ $42,106
Other Liabilities$27,777$33,830▲ $6,053
Accounts Payable and Accrued Expenses$2,669$2,982▲ $313
Total Liabilities$2,203,197$2,167,457▼ $35,740
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,683,753$1,693,170▲ $9,417
Total Liabilities and Net Assets / Fund Balance$3,886,950$3,860,627▼ $26,323

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,387,999$1,658,658$5,046,657
Land$3,543-$3,543
Compensation and Service Providers
Top Officer Pay63rd percentile

Board Members and Trustees

NameTitle
Vernon JonesPresident
Henry SimmonsTrustee
Julian SmithTrustee
Roy BunchSecretary
Jerry LockeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$349,015
Investment Income
$1,163
Other Revenue
$0
Change in Net Assets
$9,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$299,355
Salaries, Compensation, and Employee Benefits$41,406
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$126,081
Interest---$65,795
Other Salaries and Wages---$38,344
Fees for Services Accounting---$13,850
Occupancy---$11,974
All Other Expenses---$7,356
Office Expenses---$7,047
Insurance---$5,585
Other Expenses---$5,330
Payroll Taxes---$3,062
Total Functional Expenses$0$0$0$340,761
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
Customer Deposits$33,830
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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 2

“Westover water association westover water association president manager spouse”

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

“The board and managment review the return before it is filed.”

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

“If conflicts arise, they are reported at the monthly board meetings and resolved on the the spot. If the conflict cannot wait until the monthly meeting then a special meeting is called to resolve the conflict. The association's goal in resolving the conflict is to reduce any risk to the association arising from the conflict to an acceptable level.”

Form 990, Page 6, Part VI, Line 19

“BY REQUEST”

Filing and Contact Details

Filer

Filer Name
Westover Water Association Inc
EIN
64-0468112
Address
39 CR 105, OXFORD, MS 38655

Signing Officer

Name
Vernon Jones
Title
President
Phone
6622344199
Signed
2021-03-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vernon Jones
Formed
1967
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Watkins Ward and Stafford Pllc
Address
606 SOUTH 16TH STREET, OXFORD, MS 38655
Preparer
Edward a Maxwell CPA
Phone
6622818900
Supplemental Narrative

Additional Explanations

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

“To provide safe drinking water to rural consumers”

Raw XML Appendix290 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/ExplanationTxt1WESTOVER WATER ASSOCIATION WESTOVER WATER ASSOCIATION PRESIDENT MANAGER SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD AND MANAGMENT REVIEW THE RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IF CONFLICTS ARISE, THEY ARE REPORTED AT THE MONTHLY BOARD MEETINGS AND RESOLVED ON THE THE SPOT. IF THE CONFLICT CANNOT WAIT UNTIL THE MONTHLY MEETING THEN A SPECIAL MEETING IS CALLED TO RESOLVE THE CONFLICT. THE ASSOCIATION'S GOAL IN RESOLVING THE CONFLICT IS TO REDUCE ANY RISK TO THE ASSOCIATION ARISING FROM THE CONFLICT TO AN ACCEPTABLE LEVEL.
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ReturnHeader/BusinessOfficerGrp/PhoneNum06622344199
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTOVER WATER ASSOCIATION INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0WESTOVER WATER ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0640468112
ReturnHeader/Filer/USAddress/AddressLine1Txt039 CR 105
ReturnHeader/Filer/USAddress/CityNm0OXFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd038655
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0640394922
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WATKINS WARD AND STAFFORD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0606 SOUTH 16TH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OXFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038655
ReturnHeader/PreparerPersonGrp/PhoneNum06622818900
ReturnHeader/PreparerPersonGrp/PreparationDt02021-03-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EDWARD A MAXWELL CPA
ReturnHeader/ReturnTs02021-04-20T14:58:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VERNON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JONES
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

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

Open filing
Assets
$3,860,627
Liabilities
$2,167,457
Net assets
$1,693,170
Revenue
$350,178
Expenses
$340,761
Net income
$9,417
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.03$1.93$2.10$0.71$0.41$0.30
2024Detailed filing. Detailed filing data is available for this year.$3.78$1.98$1.80$0.56$0.35$0.21
2023Detailed filing. Detailed filing data is available for this year.$3.64$2.05$1.59$0.34$0.35$0.01
2022Detailed filing. Detailed filing data is available for this year.$3.69$2.08$1.60$0.31$0.34$0.03
2021Detailed filing. Detailed filing data is available for this year.$3.76$2.13$1.63$0.28$0.34$0.06
2020Detailed filing. Detailed filing data is available for this year.$3.86$2.17$1.69$0.35$0.34$0.01
2019Detailed filing. Detailed filing data is available for this year.$3.89$2.20$1.68$1.09$0.45$0.64
2018Detailed filing. Detailed filing data is available for this year.$3.56$2.51$1.06$0.28$0.31$0.03
2017Detailed filing. Detailed filing data is available for this year.$2.31$1.22$1.08$0.37$0.28$0.09
2016Detailed filing. Detailed filing data is available for this year.$2.24$1.25$1.00$0.27$0.26$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.26$1.27$0.99$0.28$0.26$0.02
2014Summary only. Only limited summary data is available for this year.$2.27$1.30$0.98$0.26$0.30$0.04
2013Summary only. Only limited summary data is available for this year.$2.33$1.31$1.02$0.23$0.26$0.03
2012Summary only. Only limited summary data is available for this year.$2.54$1.49$1.05$0.27$0.25$0.02
2011Summary only. Only limited summary data is available for this year.$2.38$1.35$1.04$0.25$0.24$0.00