Civic Intelligence

Farmington Water Association Inc

EIN 64-0475693 • 501(c)12 • Corinth, MS

Profile

To provide water service to approximately 2600 customers in alcorn county mississippi

4100 County Road 200Corinth, MS 38834
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.45x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

60th percentile

0.96x

Higher debt load relative to revenue than 60% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Source year 2025

Net Margin

60th percentile

12%

Higher net margin than 60% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

88th percentile

$38,000

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

501(c)12 • $1M-$5M nonprofits • Source year 2025

Asset Growth

60th percentile

3.0%

Faster asset growth than 60% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

92nd percentile

66%

Faster revenue growth than 92% of similar nonprofits.

501(c)12 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$4,345,549

Up $124,704 (+3.0%) from 2024

Liabilities

Down

$1,974,003

Down $112,796 (-5.4%) from 2024

Net Assets

Up

$2,371,546

Up $237,500 (+11%) from 2024

Operations
Liabilities / Revenue60th percentileNet Margin60th percentile

Revenue

Up

$2,047,079

Up $814,531 (+66%) from 2024

Expenses

Up

$1,809,579

Up $431,764 (+31%) from 2024

Net Income

Up

$237,500

Up $382,767 (+263%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth60th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $4,518,816Liabilities 2011: $3,317,276Net Assets 2011: $1,201,5402011Assets 2012: $4,335,331Liabilities 2012: $3,157,800Net Assets 2012: $1,177,5312012Assets 2013: $4,271,613Liabilities 2013: $2,989,817Net Assets 2013: $1,281,7962013Assets 2014: $4,149,396Liabilities 2014: $2,808,287Net Assets 2014: $1,341,1092014Assets 2015: $3,995,006Liabilities 2015: $2,621,826Net Assets 2015: $1,373,1802015Assets 2016: $3,792,070Liabilities 2016: $2,373,750Net Assets 2016: $1,418,3202016Assets 2017: $3,539,979Liabilities 2017: $2,292,509Net Assets 2017: $1,247,4702017Assets 2018: $3,924,615Liabilities 2018: $2,141,860Net Assets 2018: $1,782,7552018Assets 2019: $3,863,986Liabilities 2019: $2,045,287Net Assets 2019: $1,818,6992019Assets 2020: $3,806,391Liabilities 2020: $1,983,512Net Assets 2020: $1,822,8792020Assets 2021: $4,489,313Liabilities 2021: $1,822,982Net Assets 2021: $2,666,3312021Assets 2023: $4,495,148Liabilities 2023: $2,215,835Net Assets 2023: $2,279,3132023Assets 2024: $4,220,845Liabilities 2024: $2,086,799Net Assets 2024: $2,134,0462024Assets 2025: $4,345,549Liabilities 2025: $1,974,003Net Assets 2025: $2,371,5462025

Highlighted filing

2025

Assets$4,345,549
Liabilities$1,974,003
Net Assets$2,371,546
Open 2025 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $817,1782011Revenue 2012: $791,646Expenses 2012: $815,655Net Income 2012: -$24,0092012Revenue 2013: $916,674Expenses 2013: $812,409Net Income 2013: $104,2652013Revenue 2014: $871,101Expenses 2014: $811,788Net Income 2014: $59,3132014Revenue 2015: $853,967Expenses 2015: $823,920Net Income 2015: $30,0472015Revenue 2016: $859,231Expenses 2016: $866,536Net Income 2016: -$7,3052016Revenue 2017: $926,263Expenses 2017: $950,314Net Income 2017: -$24,0512017Revenue 2018: $1,427,392Expenses 2018: $889,528Net Income 2018: $537,8642018Revenue 2019: $977,593Expenses 2019: $941,649Net Income 2019: $35,9442019Revenue 2020: $992,768Expenses 2020: $988,588Net Income 2020: $4,1802020Revenue 2021: $1,023,599Expenses 2021: $980,147Net Income 2021: $43,4522021Revenue 2023: $1,113,749Expenses 2023: $1,243,012Net Income 2023: -$129,2632023Revenue 2024: $1,232,548Expenses 2024: $1,377,815Net Income 2024: -$145,2672024Revenue 2025: $2,047,079Expenses 2025: $1,809,579Net Income 2025: $237,5002025

Highlighted filing

2025

Revenue$2,047,079
Expenses$1,809,579
Net Income$237,500
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,345,549
Liabilities
$1,974,003
Net assets
$2,371,546
Revenue
$2,047,079
Expenses
$1,809,579
Net income
$237,500
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.35$1.97$2.37$2.05$1.81$0.24
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.22$2.09$2.13$1.23$1.38$0.15
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.50$2.22$2.28$1.11$1.24$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.49$1.82$2.67$1.02$0.98$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.81$1.98$1.82$0.99$0.99$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.86$2.05$1.82$0.98$0.94$0.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.92$2.14$1.78$1.43$0.89$0.54
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.54$2.29$1.25$0.93$0.95$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.79$2.37$1.42$0.86$0.87$0.01
2015Summary only. Only limited summary data is available for this year.$4.00$2.62$1.37$0.85$0.82$0.03
2014Summary only. Only limited summary data is available for this year.$4.15$2.81$1.34$0.87$0.81$0.06
2013Summary only. Only limited summary data is available for this year.$4.27$2.99$1.28$0.92$0.81$0.10
2012Summary only. Only limited summary data is available for this year.$4.34$3.16$1.18$0.79$0.82$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.52$3.32$1.20$0.82
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 5, 2025
Return Version
2024v5.0
Gross Receipts
$2,047,079
Mission and Program Overview

Mission

To provide water service to approximately 2600 customers in alcorn county mississippi

Provides water services to approximately 2600 customers in alcorn county, mississippi.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,528,487$3,713,572▲ $185,085
Savings and Temporary Cash Investments$434,453$355,260▼ $79,193
Accounts Receivable$174,764$157,741▼ $17,023
Cash and Non-Interest-Bearing Accounts$62,508$100,506▲ $37,998
Prepaid Expenses and Deferred Charges$20,633$18,470▼ $2,163
Total Assets$4,220,845$4,345,549▲ $124,704
Liabilities
Unsecured Notes Loans Payable$1,953,195$1,714,412▼ $238,783
Other Liabilities$114,443$244,171▲ $129,728
Accounts Payable and Accrued Expenses$19,161$15,420▼ $3,741
Total Liabilities$2,086,799$1,974,003▼ $112,796
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,134,046$2,371,546▲ $237,500
Total Net Assets Fund Balance$2,134,046$2,371,546▲ $237,500
Total Liabilities and Net Assets / Fund Balance$4,220,845$4,345,549▲ $124,704

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,247,382$5,722,085$8,969,467
Land$13,275-$13,275
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Clayton YoungPresidentFT$38,000$38,000

Board Members and Trustees

NameTitle
Kim BinghamDirector
Phil HensonDirector
Jerry MillerSecretary/tr
David BassVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$752,569
Program Service Revenue
$1,275,704
Investment Income
$18,806
Other Revenue
$0
Change in Net Assets
$237,500

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,047,079
Total Revenue per Audited Statements
$2,047,079
Total Revenue per Form 990
$2,047,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,287,009
Salaries, Compensation, and Employee Benefits$522,570
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$418,617
Depreciation Depletion---$283,649
Occupancy---$153,206
Other Employee Benefits---$70,662
All Other Expenses---$69,891
Interest---$58,919
Insurance---$47,451
Other Expenses---$39,969
Office Expenses---$36,417
Payroll Taxes---$33,291
Fees for Services Legal---$12,807
Fees for Services Accounting---$12,806
Fees for Services Other---$8,021
Travel---$626
Total Functional Expenses$0$0$0$1,809,579

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,809,579
Total Expenses per Audited Statements$1,809,579
Total Expenses per Form 990$1,809,579
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
Due to Corinth Gas & Water$134,787
Customer Meter Deposits$85,771
Interest Payable$20,902
Payroll & Other$2,711
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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 6

“MEMBERS”

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

“Elected board of directors”

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

“The association makes form 990 available to the board of directors before filing of the return.”

Form 990, Page 6, Part VI, Line 19

“The association does not have a conflict of interest policy. The association announces at each annual meeting of the membership that the financial statements and audit report are available for public inspection on any day during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Farmington Water Association Inc
EIN
64-0475693
Phone
6622862815
Address
4100 COUNTY ROAD 200, CORINTH, MS 38834

Signing Officer

Name
Clayton Young
Title
President
Phone
6622862815
Signed
2025-12-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clayton Young
Voting Board Members
5
Independent Board Members
5
Employees
9

Preparer

Firm
Dobbins & Mitchell Pa Cpas
Address
725 SHILOH RD, CORINTH, MS 38834
Preparer
Steve Dobbins CPA
Phone
6622875265
Raw XML Appendix304 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/ExplanationTxt0MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ELECTED BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ASSOCIATION MAKES FORM 990 AVAILABLE TO THE BOARD OF DIRECTORS BEFORE FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ASSOCIATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY. THE ASSOCIATION ANNOUNCES AT EACH ANNUAL MEETING OF THE MEMBERSHIP THAT THE FINANCIAL STATEMENTS AND AUDIT REPORT ARE AVAILABLE FOR PUBLIC INSPECTION ON ANY DAY DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04220845
IRS990/TotalAssetsEOYAmt04345549
IRS990/TotalAssetsGrp/BOYAmt04220845
IRS990/TotalAssetsGrp/EOYAmt04345549
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0752569
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01809579
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02086799
IRS990/TotalLiabilitiesEOYAmt01974003
IRS990/TotalLiabilitiesGrp/BOYAmt02086799
IRS990/TotalLiabilitiesGrp/EOYAmt01974003
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02134046
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02371546
IRS990/TotalProgramServiceRevenueAmt01275704
IRS990/TotalReportableCompFromOrgAmt038000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01294510
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02047079
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04220845
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04345549
IRS990/TravelGrp/TotalAmt0626
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01953195
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01714412
IRS990/USAddress/AddressLine1Txt04100 COUNTY ROAD 200
IRS990/USAddress/CityNm0CORINTH
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd038834
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CLAYTON YOUNG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06622862815
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-12-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FARMINGTON WATER ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FARM
ReturnHeader/Filer/EIN0640475693
ReturnHeader/Filer/PhoneNum06622862815
ReturnHeader/Filer/USAddress/AddressLine1Txt04100 COUNTY ROAD 200
ReturnHeader/Filer/USAddress/CityNm0CORINTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd038834
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0743059248
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DOBBINS & MITCHELL PA CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0725 SHILOH RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORINTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038834
ReturnHeader/PreparerPersonGrp/PhoneNum06622875265
ReturnHeader/PreparerPersonGrp/PreparationDt02026-01-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVE DOBBINS CPA
ReturnHeader/ReturnTs02026-01-15T15:21:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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