Civic Intelligence

Westover Water Association Inc Westover Water Association

990 • Fiscal year 2023 • EIN 64-0468112

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 28, 2024

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

84th percentile

0.56x

Higher debt load relative to assets than 84% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

6.07x

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

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Net Margin

28th percentile

-3.5%

Higher net margin than 28% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2023 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2023

Asset Growth

34th percentile

-1.2%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

59th percentile

7.6%

Faster revenue growth than 59% of similar nonprofits.

2023 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$3,639,291

Down $45,957 (-1.2%) from 2022

Net Assets

Down

$1,590,663

Down $10,682 (-0.7%) from 2022

Liabilities

Down

$2,048,628

Down $35,275 (-1.7%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin28th percentile

Revenue

Up

$337,295

Up $23,925 (+7.6%) from 2022

Expenses

Up

$349,097

Up $8,409 (+2.5%) from 2022

Net Income

Up

-$11,802

Up $15,516 (+57%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2023

Assets$3,639,291
Liabilities$2,048,628
Net Assets$1,590,663
Open 2023 Filing

Operations Trend

Revenue Growth59th 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

2023

Revenue$337,295
Expenses$349,097
Net Income-$11,802
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 28, 2024
Return Version
2023v4.0
Gross Receipts
$337,295
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$3,322,346$3,191,563▼ $130,783
Rtn Earn Endowment Incm Other Fnds$1,594,524$1,582,722▼ $11,802
Cash and Non-Interest-Bearing Accounts$341,573$428,634▲ $87,061
Accounts Receivable$18,479$16,147▼ $2,332
Pd in Cap Srpls Land Bldg Eqp Fund$6,821$7,941▲ $1,120
Prepaid Expenses and Deferred Charges$1,850$1,947▲ $97
Total Assets$3,685,248$3,639,291▼ $45,957
Other Assets Total$1,000$1,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,037,899$1,988,577▼ $49,322
Other Liabilities$40,118$43,847▲ $3,729
Accounts Payable and Accrued Expenses$5,886$16,204▲ $10,318
Total Liabilities$2,083,903$2,048,628▼ $35,275
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,601,345$1,590,663▼ $10,682
Total Liabilities and Net Assets / Fund Balance$3,685,248$3,639,291▼ $45,957

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,543-$3,543
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Vernon JonesPresident
Anthony BlakeTrustee
Julian SmithTrustee
Roy BunchSecretary
Jerry LockeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$330,145
Investment Income
$7,150
Other Revenue
$0
Change in Net Assets
$-11,802
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$303,355
Salaries, Compensation, and Employee Benefits$45,742
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$130,782
Interest---$62,386
Other Salaries and Wages---$42,525
Occupancy---$14,726
Insurance---$6,335
Office Expenses---$5,212
Fees for Services Accounting---$4,600
All Other Expenses---$3,698
Payroll Taxes---$3,217
Other Expenses---$2,785
Total Functional Expenses$0$0$0$349,097
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$43,847
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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 westover water association lawn services secretary owner self”

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
Roy Bunch
Title
Secretary
Phone
6622344199
Signed
2024-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roy Bunch
Formed
1967
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
3
Employees
2

Preparer

Firm
Watkins Ward and Stafford Pllc
Address
606 SOUTH 16TH STREET, OXFORD, MS 38655
Preparer
Avery S Foster CPA
Phone
6622818900
Supplemental Narrative

Additional Explanations

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

“To provide safe drinking water to rural consumers”

Form 990, Part XI, Line 9

“MEMBERSHIPS 1,120”

Raw XML Appendix291 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 WESTOVER WATER ASSOCIATION LAWN SERVICES SECRETARY OWNER SELF
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/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROY BUNCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum06622344199
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTOVER WATER ASSOCIATION INC
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WATKINS WARD AND STAFFORD PLLC
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ReturnHeader/ReturnTs02024-03-05T09:29:34-05:00
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ReturnHeader/TaxYr02023

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,639,291
Liabilities
$2,048,628
Net assets
$1,590,663
Revenue
$337,295
Expenses
$349,097
Net income
-$11,802
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