Civic Intelligence

Algoma Water Association Inc

990 • Fiscal year 2023 • EIN 64-0518059

Jan 01, 2023 to Dec 31, 2023 • Filed on May 23, 2024

Organization Profile
P O Box 123Algoma, MS 38820

(662) 489-8351

Siviq Scores

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

Liabilities / Assets

69th percentile

0.40x

Higher debt load relative to assets than 69% of similar nonprofits.

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

Liabilities / Revenue

55th percentile

1.01x

Higher debt load relative to revenue than 55% of similar nonprofits.

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

Net Margin

72nd percentile

18%

Higher net margin than 72% 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

76th percentile

5.6%

Faster asset growth than 76% of similar nonprofits.

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

Revenue Growth

25th percentile

-1.6%

Faster revenue growth than 25% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$2,253,313

Up $120,060 (+5.6%) from 2022

Net Assets

Up

$1,361,439

Up $161,402 (+13%) from 2022

Liabilities

Down

$891,874

Down $41,342 (-4.4%) from 2022

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin72nd percentile

Revenue

Down

$887,064

Down $14,421 (-1.6%) from 2022

Expenses

Down

$726,322

Down $46,259 (-6.0%) from 2022

Net Income

Up

$160,742

Up $31,838 (+25%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,683,631Liabilities 2011: $1,469,848Net Assets 2011: $1,213,7832011Assets 2012: $2,583,222Liabilities 2012: $1,423,651Net Assets 2012: $1,159,5712012Assets 2013: $2,437,646Liabilities 2013: $1,375,245Net Assets 2013: $1,062,4012013Assets 2014: $2,365,353Liabilities 2014: $1,322,580Net Assets 2014: $1,042,7732014Assets 2015: $2,305,378Liabilities 2015: $1,275,964Net Assets 2015: $1,029,4142015Assets 2016: $2,264,278Liabilities 2016: $1,218,756Net Assets 2016: $1,045,5222016Assets 2017: $2,235,454Liabilities 2017: $1,166,501Net Assets 2017: $1,068,9532017Assets 2018: $2,224,150Liabilities 2018: $1,147,658Net Assets 2018: $1,076,4922018Assets 2019: $2,102,901Liabilities 2019: $1,058,439Net Assets 2019: $1,044,4622019Assets 2020: $2,009,771Liabilities 2020: $976,726Net Assets 2020: $1,033,0452020Assets 2021: $2,006,291Liabilities 2021: $935,623Net Assets 2021: $1,070,6682021Assets 2022: $2,133,253Liabilities 2022: $933,216Net Assets 2022: $1,200,0372022Assets 2023: $2,253,313Liabilities 2023: $891,874Net Assets 2023: $1,361,4392023Assets 2024: $2,483,106Liabilities 2024: $875,268Net Assets 2024: $1,607,8382024

Highlighted filing

2023

Assets$2,253,313
Liabilities$891,874
Net Assets$1,361,439
Open 2023 Filing

Operations Trend

Revenue Growth25th percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2011: $0Expenses 2011: $602,638Net Income 2011: -$602,6382011Revenue 2012: $533,926Expenses 2012: $588,698Net Income 2012: -$54,7722012Revenue 2013: $578,386Expenses 2013: $676,066Net Income 2013: -$97,6802013Revenue 2014: $669,594Expenses 2014: $689,742Net Income 2014: -$20,1482014Revenue 2015: $710,660Expenses 2015: $724,529Net Income 2015: -$13,8692015Revenue 2016: $671,859Expenses 2016: $656,306Net Income 2016: $15,5532016Revenue 2017: $681,733Expenses 2017: $658,802Net Income 2017: $22,9312017Revenue 2018: $703,036Expenses 2018: $695,902Net Income 2018: $7,1342018Revenue 2019: $679,785Expenses 2019: $712,115Net Income 2019: -$32,3302019Revenue 2020: $696,240Expenses 2020: $708,207Net Income 2020: -$11,9672020Revenue 2021: $707,033Expenses 2021: $669,580Net Income 2021: $37,4532021Revenue 2022: $901,485Expenses 2022: $772,581Net Income 2022: $128,9042022Revenue 2023: $887,064Expenses 2023: $726,322Net Income 2023: $160,7422023Revenue 2024: $963,478Expenses 2024: $717,599Net Income 2024: $245,8792024

Highlighted filing

2023

Revenue$887,064
Expenses$726,322
Net Income$160,742
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 23, 2024
Return Version
2023v5.0
Gross Receipts
$887,064
Mission and Program Overview

Mission

Provision of water to rural users

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,703,561$1,769,786▲ $66,225
Rtn Earn Endowment Incm Other Fnds$1,130,037$1,291,439▲ $161,402
Savings and Temporary Cash Investments$204,716$206,037▲ $1,321
Cash and Non-Interest-Bearing Accounts$94,055$151,644▲ $57,589
Accounts Receivable$118,485$111,577▼ $6,908
Pd in Cap Srpls Land Bldg Eqp Fund$70,000$70,000→ $0
Prepaid Expenses and Deferred Charges$9,338$11,171▲ $1,833
Other Notes and Loans Receivable, Net$2,998$2,998→ $0
Total Assets$2,133,253$2,253,313▲ $120,060
Other Assets Total$100$100→ $0
Liabilities
Other Liabilities$886,620$870,175▼ $16,445
Accounts Payable and Accrued Expenses$46,596$21,699▼ $24,897
Total Liabilities$933,216$891,874▼ $41,342
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,200,037$1,361,439▲ $161,402
Total Liabilities and Net Assets / Fund Balance$2,133,253$2,253,313▲ $120,060

Asset Categories

AssetBook ValueDepreciationBasis
Land$10,831-$10,831
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Scott FosterPresident
Kevin RodgersVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$885,186
Investment Income
$1,878
Other Revenue
$0
Change in Net Assets
$160,742
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$597,591
Salaries, Compensation, and Employee Benefits$128,731
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$119,437--$119,437
Depreciation Depletion$94,824--$94,824
Interest$32,018--$32,018
Office Expenses$19,041--$19,041
All Other Expenses$15,136--$15,136
Insurance$11,630--$11,630
Payroll Taxes$9,294--$9,294
Other Expenses$7,757--$7,757
Fees for Services Accounting$3,865--$3,865
Occupancy$2,500--$2,500
Total Functional Expenses$726,322$0$0$726,322
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
Notes Payable$792,860
Customer Deposits$77,315
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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 11B

“Review return at annual meeting prior to filing”

Form 990, Page 6, Part VI, Line 19

“Public can access association records by making a request to the board president”

Filing and Contact Details

Filer

Filer Name
Algoma Water Association Inc
EIN
64-0518059
Address
P O BOX 123, ALGOMA, MS 38820

Signing Officer

Name
Scott Foster
Title
President
Signed
2024-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Foster
Voting Board Members
5
Independent Board Members
5
Employees
5

Preparer

Firm
Stegall & Associates Pllc
Address
15 WEST REYNOLDS STREET, PONTOTOC, MS 38863
Preparer
Hayden M Stegall CPA
Phone
6624896021
Supplemental Narrative

Additional Explanations

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

“Provision of water to rural users.”

Form 990, Part XI, Line 9

“MEMBERSHIPS 660”

Raw XML Appendix276 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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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-23
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ReturnHeader/ReturnTs02024-06-25T17:54:02-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SCOTT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FOSTER
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,253,313
Liabilities
$891,874
Net assets
$1,361,439
Revenue
$887,064
Expenses
$726,322
Net income
$160,742
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$0.88$1.61$0.96$0.72$0.25
2023Detailed filing. Detailed filing data is available for this year.$2.25$0.89$1.36$0.89$0.73$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.93$1.20$0.90$0.77$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.01$0.94$1.07$0.71$0.67$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.01$0.98$1.03$0.70$0.71$0.01
2019Summary only. Only limited summary data is available for this year.$2.10$1.06$1.04$0.68$0.71$0.03
2018Summary only. Only limited summary data is available for this year.$2.22$1.15$1.08$0.70$0.70$0.01
2017Summary only. Only limited summary data is available for this year.$2.24$1.17$1.07$0.68$0.66$0.02
2016Summary only. Only limited summary data is available for this year.$2.26$1.22$1.05$0.67$0.66$0.02
2015Summary only. Only limited summary data is available for this year.$2.31$1.28$1.03$0.71$0.72$0.01
2014Summary only. Only limited summary data is available for this year.$2.37$1.32$1.04$0.67$0.69$0.02
2013Summary only. Only limited summary data is available for this year.$2.44$1.38$1.06$0.58$0.68$0.10
2012Summary only. Only limited summary data is available for this year.$2.58$1.42$1.16$0.53$0.59$0.05
2011Summary only. Only limited summary data is available for this year.$2.68$1.47$1.21$0.00$0.60$0.60
Peer Organizations

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