Civic Intelligence

Southwest Leake Water Association

990 • Fiscal year 2020 • EIN 64-0534677

Jun 01, 2019 to May 31, 2020 • Filed on Jul 15, 2020

Organization ProfileN/A
991 Pleasant Hill RoadLena, MS 39094

(601) 654-9339

Siviq Scores

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

Liabilities / Assets

66th percentile

0.39x

Higher debt load relative to assets than 66% of similar nonprofits.

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

Liabilities / Revenue

79th percentile

2.82x

Higher debt load relative to revenue than 79% of similar nonprofits.

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

Net Margin

52nd percentile

7.3%

Higher net margin than 52% of similar nonprofits.

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

Top Officer Pay

72nd percentile

$1,750

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

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

Asset Growth

45th percentile

0.1%

Faster asset growth than 45% of similar nonprofits.

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

Revenue Growth

26th percentile

-1.4%

Faster revenue growth than 26% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$2,858,788

Up $1,854 (+0.1%) from 2019

Net Assets

Up

$1,740,084

Up $28,864 (+1.7%) from 2019

Liabilities

Down

$1,118,704

Down $27,010 (-2.4%) from 2019

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin52nd percentile

Revenue

Down

$396,480

Down $5,577 (-1.4%) from 2019

Expenses

Down

$367,616

Down $34,395 (-8.6%) from 2019

Net Income

Up

$28,864

Up $28,818 (+62648%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,999,993Liabilities 2011: $1,456,426Net Assets 2011: $1,543,5672011Assets 2012: $3,070,167Liabilities 2012: $1,431,317Net Assets 2012: $1,638,8502012Assets 2013: $3,046,637Liabilities 2013: $1,412,737Net Assets 2013: $1,633,9002013Assets 2014: $2,937,582Liabilities 2014: $1,388,076Net Assets 2014: $1,549,5062014Assets 2015: $2,910,337Liabilities 2015: $1,382,169Net Assets 2015: $1,528,1682015Assets 2016: $3,015,417Liabilities 2016: $1,355,552Net Assets 2016: $1,659,8652016Assets 2017: $2,868,744Liabilities 2017: $1,181,052Net Assets 2017: $1,687,6922017Assets 2018: $2,867,940Liabilities 2018: $1,156,766Net Assets 2018: $1,711,1742018Assets 2019: $2,856,934Liabilities 2019: $1,145,714Net Assets 2019: $1,711,2202019Assets 2020: $2,858,788Liabilities 2020: $1,118,704Net Assets 2020: $1,740,0842020Assets 2021: $2,830,551Liabilities 2021: $1,101,686Net Assets 2021: $1,728,8652021Assets 2022: $2,785,264Liabilities 2022: $1,060,524Net Assets 2022: $1,724,7402022Assets 2023: $2,743,526Liabilities 2023: $1,026,601Net Assets 2023: $1,716,9252023Assets 2024: $2,702,135Liabilities 2024: $976,548Net Assets 2024: $1,725,5872024Assets 2025: $2,675,971Liabilities 2025: $930,290Net Assets 2025: $1,745,6812025

Highlighted filing

2020

Assets$2,858,788
Liabilities$1,118,704
Net Assets$1,740,084
Open 2020 Filing

Operations Trend

Revenue Growth26th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $452,148Expenses 2011: $433,880Net Income 2011: $18,2682011Revenue 2012: $428,285Expenses 2012: $333,000Net Income 2012: $95,2852012Revenue 2013: $338,986Expenses 2013: $343,936Net Income 2013: -$4,9502013Revenue 2014: $361,164Expenses 2014: $304,301Net Income 2014: $56,8632014Revenue 2015: $357,954Expenses 2015: $331,470Net Income 2015: $26,4842015Revenue 2016: $373,857Expenses 2016: $340,560Net Income 2016: $33,2972016Revenue 2017: $396,215Expenses 2017: $368,388Net Income 2017: $27,8272017Revenue 2018: $406,765Expenses 2018: $383,283Net Income 2018: $23,4822018Revenue 2019: $402,057Expenses 2019: $402,011Net Income 2019: $462019Revenue 2020: $396,480Expenses 2020: $367,616Net Income 2020: $28,8642020Revenue 2021: $447,922Expenses 2021: $459,141Net Income 2021: -$11,2192021Revenue 2022: $414,659Expenses 2022: $418,784Net Income 2022: -$4,1252022Revenue 2023: $444,061Expenses 2023: $451,876Net Income 2023: -$7,8152023Revenue 2024: $474,808Expenses 2024: $466,146Net Income 2024: $8,6622024Revenue 2025: $478,097Expenses 2025: $458,003Net Income 2025: $20,0942025

Highlighted filing

2020

Revenue$396,480
Expenses$367,616
Net Income$28,864
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Jul 15, 2020
Return Version
2019v5.1
Gross Receipts
$396,480
Mission and Program Overview

Mission

Provide water service to the community of lena mississippi

Provide water service to residents in southwest leake county, mississippi

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,055,370$1,994,916▼ $60,454
Rtn Earn Endowment Incm Other Fnds$1,711,220$1,740,084▲ $28,864
Savings and Temporary Cash Investments$721,056$545,192▼ $175,864
Investments in Publicly Traded Securities-$228,274-
Accounts Receivable$31,082$42,127▲ $11,045
Cash and Non-Interest-Bearing Accounts$30,060$30,121▲ $61
Inventories for Sale or Use$12,487$10,110▼ $2,377
Prepaid Expenses and Deferred Charges$6,844$8,013▲ $1,169
Total Assets$2,856,934$2,858,788▲ $1,854
Other Assets Total$35$35→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,097,324$1,077,529▼ $19,795
Other Liabilities$32,848$33,492▲ $644
Accounts Payable and Accrued Expenses$15,542$7,683▼ $7,859
Total Liabilities$1,145,714$1,118,704▼ $27,010
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,711,220$1,740,084▲ $28,864
Total Liabilities and Net Assets / Fund Balance$2,856,934$2,858,788▲ $1,854

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,878,437$1,797,085$3,675,522
Equipment$74,966$118,533$193,499
Buildings$30,962$35,844$66,806
Land$10,551-$10,551
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleBaseTotal
Bobby ClarkDirector$1,750$1,750
Helen HutchinsDirector$1,750$1,750
John KennedyVice President$1,550$1,550
Mary Jean EvansSecretary/treaurer$1,550$1,550
Timmy LathemPresident$1,550$1,550
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$389,027
Investment Income
$7,453
Other Revenue
$0
Change in Net Assets
$28,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$285,053
Salaries, Compensation, and Employee Benefits$82,563
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$92,136$0$0$92,136
Other Salaries and Wages$65,996$0$0$65,996
Interest$46,811$0$0$46,811
Fees for Services Other$44,900$0$0$44,900
All Other Expenses$33,953$0$0$33,953
Insurance$13,455$0$0$13,455
Payroll Taxes$8,417$0$0$8,417
Current Officers, Directors, Trustees, and Key Employees$8,150$0$0$8,150
Office Expenses$4,167$0$0$4,167
Other Expenses$3,662$0$0$3,662
Fees for Services Accounting$3,100$0$0$3,100
Fees for Services Legal$900$0$0$900
Conferences and Meetings$79$0$0$79
Travel$44$0$0$44
Total Functional Expenses$367,616$0$0$367,616
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 Meter Deposits$33,492
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
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
Filing and Contact Details

Filer

Filer Name
Southwest Leake Water Association
EIN
64-0534677
Phone
6016549339
Address
991 PLEASANT HILL ROAD, LENA, MS 39094

Signing Officer

Name
Timmy Lathem
Title
President
Phone
6016549339
Signed
2020-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timmy Lathem
Formed
1968
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
0

Preparer

Firm
Price & Co Pa
Address
PO BOX 364, FOREST, MS 39074
Preparer
William N Price Jr CPA
Phone
6014694020
Supplemental Narrative

Additional Explanations

Pt VI, Line 7A

“All members have an equal vote to elect directors.”

Pt VI, Line 6

“All customers are members of the association.”

Pt VI, Line 11B

“Form 990 is reviewed by the board of directors.”

Pt VI, Line 19

“Documents are available upon request.”

Form 990, Part IX, Line 11G

“Contract labor-bobby bryan 7060. 7060.”

Form 990, Part IX, Line 11G

“Contract labor-daniel babb 24402. 24402.”

Form 990, Part IX, Line 11G

“Contract labor-phil rasco 2240. 2240.”

Form 990, Part IX, Line 11G

“Meter reading 11198. 11198.”

Raw XML Appendix373 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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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0118533
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0193499
IRS990ScheduleD/LandGrp/BookValueAmt010551
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt010551
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01878437
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01797085
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03675522
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033492
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER METER DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01994916
IRS990ScheduleD/TotalLiabilityAmt033492
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL MEMBERS HAVE AN EQUAL VOTE TO ELECT DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL CUSTOMERS ARE MEMBERS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT LABOR-BOBBY BRYAN 7060. 7060.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACT LABOR-DANIEL BABB 24402. 24402.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACT LABOR-PHIL RASCO 2240. 2240.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7METER READING 11198. 11198.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02856934
IRS990/TotalAssetsEOYAmt02858788
IRS990/TotalAssetsGrp/BOYAmt02856934
IRS990/TotalAssetsGrp/EOYAmt02858788
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0367616
IRS990/TotalFunctionalExpensesGrp/TotalAmt0367616
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01145714
IRS990/TotalLiabilitiesEOYAmt01118704
IRS990/TotalLiabilitiesGrp/BOYAmt01145714
IRS990/TotalLiabilitiesGrp/EOYAmt01118704
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01711220
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01740084
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0389027
IRS990/TotalReportableCompFromOrgAmt08150
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0396480
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0396480
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02856934
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02858788
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt044
IRS990/TravelGrp/TotalAmt044
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01823 MCDONALD ROAD
IRS990/USAddress/CityNm0LENA
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd039094
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIMMY LATHEM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06016549339
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHWEST LEAKE WATER ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0640534677
ReturnHeader/Filer/PhoneNum06016549339
ReturnHeader/Filer/USAddress/AddressLine1Txt0991 PLEASANT HILL ROAD
ReturnHeader/Filer/USAddress/CityNm0LENA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd039094
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C2C3B61C32E0297E38E6930D0288A42A9E68A377
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0C2C3B61C32E0297E38E6930D0288A42A9E68A377
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0162.193.57.11
ReturnHeader/FilingSecurityInformation/IPDt02020-08-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm007:45:24
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRICE & CO PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 364
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOREST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd039074
ReturnHeader/PreparerPersonGrp/PhoneNum06014694020
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM N PRICE JR CPA
ReturnHeader/ReturnTs02020-08-11T07:45:37-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-06-01
ReturnHeader/TaxPeriodEndDt02020-05-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,858,788
Liabilities
$1,118,704
Net assets
$1,740,084
Revenue
$396,480
Expenses
$367,616
Net income
$28,864
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.68$0.93$1.75$0.48$0.46$0.02
2024Detailed filing. Detailed filing data is available for this year.$2.70$0.98$1.73$0.47$0.47$0.01
2023Detailed filing. Detailed filing data is available for this year.$2.74$1.03$1.72$0.44$0.45$0.01
2022Detailed filing. Detailed filing data is available for this year.$2.79$1.06$1.72$0.41$0.42$0.00
2021Detailed filing. Detailed filing data is available for this year.$2.83$1.10$1.73$0.45$0.46$0.01
2020Detailed filing. Detailed filing data is available for this year.$2.86$1.12$1.74$0.40$0.37$0.03
2019Detailed filing. Detailed filing data is available for this year.$2.86$1.15$1.71$0.40$0.40$0.00
2018Detailed filing. Detailed filing data is available for this year.$2.87$1.16$1.71$0.41$0.38$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.87$1.18$1.69$0.40$0.37$0.03
2016Detailed filing. Detailed filing data is available for this year.$3.02$1.36$1.66$0.37$0.34$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.91$1.38$1.53$0.36$0.33$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.94$1.39$1.55$0.36$0.30$0.06
2013Summary only. Only limited summary data is available for this year.$3.05$1.41$1.63$0.34$0.34$0.00
2012Summary only. Only limited summary data is available for this year.$3.07$1.43$1.64$0.43$0.33$0.10
2011Summary only. Only limited summary data is available for this year.$3.00$1.46$1.54$0.45$0.43$0.02