Civic Intelligence

Gaines Trace Water District Inc

990 • Fiscal year 2024 • EIN 64-0604340

Jul 01, 2023 to Jun 30, 2024 • Filed on Aug 26, 2024

Organization Profile
60019 Clark CircleSmithville, MS 38870

(662) 257-2288

Siviq Scores

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

Liabilities / Assets

21st percentile

0.02x

Higher debt load relative to assets than 21% of similar nonprofits.

2024 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

29th percentile

0.16x

Higher debt load relative to revenue than 29% of similar nonprofits.

2024 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2024

Net Margin

15th percentile

-12%

Higher net margin than 15% of similar nonprofits.

2024 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

81st percentile

$10,630

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2024 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2024

Asset Growth

26th percentile

-2.1%

Faster asset growth than 26% of similar nonprofits.

2024 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

30th percentile

0.2%

Faster revenue growth than 30% of similar nonprofits.

2024 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$1,189,247

Down $24,916 (-2.1%) from 2023

Net Assets

Down

$1,162,135

Down $20,487 (-1.7%) from 2023

Liabilities

Down

$27,112

Down $4,429 (-14%) from 2023

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin15th percentile

Revenue

Up

$164,526

Up $372 (+0.2%) from 2023

Expenses

Up

$185,013

Up $2,386 (+1.3%) from 2023

Net Income

Down

-$20,487

Down $2,014 (-11%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,636,757Liabilities 2010: $330,909Net Assets 2010: $1,305,8482010Assets 2011: $1,608,540Liabilities 2011: $300,089Net Assets 2011: $1,308,4512011Assets 2012: $1,605,935Liabilities 2012: $293,378Net Assets 2012: $1,312,5572012Assets 2013: $1,573,997Liabilities 2013: $260,792Net Assets 2013: $1,313,2052013Assets 2014: $1,514,377Liabilities 2014: $227,715Net Assets 2014: $1,286,6622014Assets 2015: $1,309,351Liabilities 2015: $24,991Net Assets 2015: $1,284,3602015Assets 2016: $1,294,663Liabilities 2016: $25,632Net Assets 2016: $1,269,0312016Assets 2017: $1,281,318Liabilities 2017: $27,034Net Assets 2017: $1,254,2842017Assets 2018: $1,272,266Liabilities 2018: $27,062Net Assets 2018: $1,245,2042018Assets 2019: $1,240,924Liabilities 2019: $27,297Net Assets 2019: $1,213,6272019Assets 2020: $1,235,025Liabilities 2020: $27,212Net Assets 2020: $1,207,8132020Assets 2021: $1,234,763Liabilities 2021: $28,889Net Assets 2021: $1,205,8742021Assets 2022: $1,242,727Liabilities 2022: $41,632Net Assets 2022: $1,201,0952022Assets 2023: $1,214,163Liabilities 2023: $31,541Net Assets 2023: $1,182,6222023Assets 2024: $1,189,247Liabilities 2024: $27,112Net Assets 2024: $1,162,1352024Assets 2025: $1,139,932Liabilities 2025: $27,585Net Assets 2025: $1,112,3472025

Highlighted filing

2024

Assets$1,189,247
Liabilities$27,112
Net Assets$1,162,135
Open 2024 Filing

Operations Trend

Revenue Growth30th percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $105,5172010Expenses 2011: $105,6302011Expenses 2012: $127,9222012Revenue 2013: $132,793Expenses 2013: $132,145Net Income 2013: $6482013Revenue 2014: $143,072Expenses 2014: $169,615Net Income 2014: -$26,5432014Revenue 2015: $144,063Expenses 2015: $146,365Net Income 2015: -$2,3022015Revenue 2016: $136,790Expenses 2016: $152,119Net Income 2016: -$15,3292016Revenue 2017: $151,711Expenses 2017: $166,458Net Income 2017: -$14,7472017Revenue 2018: $150,126Expenses 2018: $159,206Net Income 2018: -$9,0802018Revenue 2019: $138,457Expenses 2019: $170,034Net Income 2019: -$31,5772019Revenue 2020: $150,725Expenses 2020: $156,539Net Income 2020: -$5,8142020Revenue 2021: $148,549Expenses 2021: $150,488Net Income 2021: -$1,9392021Revenue 2022: $157,114Expenses 2022: $161,893Net Income 2022: -$4,7792022Revenue 2023: $164,154Expenses 2023: $182,627Net Income 2023: -$18,4732023Revenue 2024: $164,526Expenses 2024: $185,013Net Income 2024: -$20,4872024Revenue 2025: $150,924Expenses 2025: $200,712Net Income 2025: -$49,7882025

Highlighted filing

2024

Revenue$164,526
Expenses$185,013
Net Income-$20,487
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Aug 26, 2024
Return Version
2023v5.1
Gross Receipts
$164,526
Mission and Program Overview

Mission

PROVIDE Safe drinking WATER TO RURAL AREA

Provide safe water for a rural area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pd in Cap Srpls Land Bldg Eqp Fund$1,182,622$1,162,135▼ $20,487
Land, Buildings, and Equipment, Net$804,086$769,133▼ $34,953
Savings and Temporary Cash Investments$330,617$339,899▲ $9,282
Cash and Non-Interest-Bearing Accounts$68,049$65,585▼ $2,464
Pledges and Grants Receivable$11,105$14,324▲ $3,219
Total Assets$1,214,163$1,189,247▼ $24,916
Other Assets Total$306$306→ $0
Liabilities
Other Liabilities$26,362$26,005▼ $357
Accounts Payable and Accrued Expenses$5,179$1,107▼ $4,072
Total Liabilities$31,541$27,112▼ $4,429
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,182,622$1,162,135▼ $20,487
Total Liabilities and Net Assets / Fund Balance$1,214,163$1,189,247▼ $24,916

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$23,625--
Land$14,000--
Equipment$731,508$1,275,953-
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ralph DillPresidentPT$10,630$10,630
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$155,245
Investment Income
$9,281
Other Revenue
$0
Change in Net Assets
$-20,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$111,759
Salaries, Compensation, and Employee Benefits$73,254
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$55,853--$55,853
Depreciation Depletion$34,954--$34,954
Current Officers, Directors, Trustees, and Key Employees$12,305--$12,305
Insurance$9,729--$9,729
Payroll Taxes$5,096--$5,096
All Other Expenses$4,229--$4,229
Other Expenses$3,534--$3,534
Advertising$938--$938
Fees for Services Accounting$500--$500
Conferences and Meetings$260--$260
Office Expenses$123--$123
Total Functional Expenses$185,013$0$0$185,013
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
Lobbying activity
No
Subject to proxy tax
No
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
Yes
Management duties delegated
No

Governance Explanations

PART VI, SECTION A, LINE 7A

“Every customer on the water system is a member.”

PART VI, SECTION A, LINE 8A

“All meeting minutes are recorded for viewing.”

Part VI, Section B, Line 11

“990 is presented at the annual meeting and signed by required officers.”

Filing and Contact Details

Filer

Filer Name
Gaines Trace Water District
EIN
64-0604340
Phone
6622572288
Address
60019 CLARK CIRCLE, SMITHVILLE, MS 38870

Signing Officer

Name
Kerry Mitchell
Title
President
Phone
6622572288
Signed
2024-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kerry Mitchell
Formed
1977
Legal Domicile
Ms
Voting Board Members
0
Independent Board Members
0
Employees
5

Preparer

Firm
D M Thomas CPA Pllc
Address
310 3RD ST NORTH, AMORY, MS 38821
Preparer
Matt Thomas
Phone
6622562025
Supplemental Narrative

Additional Explanations

PART IX, LINE 24E

“Includes bank charges, dues, subscritions, fuel, and tag.”

Raw XML Appendix275 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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IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0164526
IRS990/GroupReturnForAffiliatesInd0false
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IRS990/IndoorTanningServicesInd0false
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IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt09281
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt09281
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01275953
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IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherExpensesGrp/Desc2SUPPLIES
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IRS990/PartialLiquidationInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Includes bank charges, dues, subscritions, fuel, and tag.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Every customer on the water system is a member.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3990 is presented at the annual meeting and signed by required officers.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IX, LINE 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION A, LINE 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION A, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION B, LINE 11
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ReturnHeader/BusinessOfficerGrp/PersonNm0KERRY MITCHELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06622572288
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GAINES TRACE WATER DISTRICT
ReturnHeader/Filer/BusinessNameControlTxt0GAIN
ReturnHeader/Filer/EIN0640604340
ReturnHeader/Filer/PhoneNum06622572288
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ReturnHeader/Filer/USAddress/CityNm0SMITHVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd038870
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205834679
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0D M THOMAS CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0310 3RD ST NORTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AMORY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038821
ReturnHeader/PreparerPersonGrp/PhoneNum06622562025
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATT THOMAS
ReturnHeader/ReturnTs02024-08-26T14:37:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,189,247
Liabilities
$27,112
Net assets
$1,162,135
Revenue
$164,526
Expenses
$185,013
Net income
-$20,487
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.14$0.03$1.11$0.15$0.20$0.05
2024Detailed filing. Detailed filing data is available for this year.$1.19$0.03$1.16$0.16$0.19$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.21$0.03$1.18$0.16$0.18$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.24$0.04$1.20$0.16$0.16$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.23$0.03$1.21$0.15$0.15$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.24$0.03$1.21$0.15$0.16$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.24$0.03$1.21$0.14$0.17$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.27$0.03$1.25$0.15$0.16$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.28$0.03$1.25$0.15$0.17$0.01
2016Summary only. Only limited summary data is available for this year.$1.29$0.03$1.27$0.14$0.15$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.31$0.02$1.28$0.14$0.15$0.00
2014Summary only. Only limited summary data is available for this year.$1.51$0.23$1.29$0.14$0.17$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$0.26$1.31$0.13$0.13$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.61$0.29$1.31$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.61$0.30$1.31$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.33$1.31$0.11