Civic Intelligence

Gaines Trace Water District Inc

990 • Fiscal year 2025 • EIN 64-0604340

Jul 01, 2024 to Jun 30, 2025 • Filed on Aug 12, 2025

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

20th percentile

0.02x

Higher debt load relative to assets than 20% of similar nonprofits.

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

Liabilities / Revenue

30th percentile

0.18x

Higher debt load relative to revenue than 30% of similar nonprofits.

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

Net Margin

6th percentile

-33%

Higher net margin than 6% of similar nonprofits.

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

Top Officer Pay

72nd percentile

$396

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

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

Asset Growth

13th percentile

-4.1%

Faster asset growth than 13% of similar nonprofits.

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

Revenue Growth

11th percentile

-8.3%

Faster revenue growth than 11% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets20th percentile

Assets

Down

$1,139,932

Down $49,315 (-4.1%) from 2024

Net Assets

Down

$1,112,347

Down $49,788 (-4.3%) from 2024

Liabilities

Up

$27,585

Up $473 (+1.7%) from 2024

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin6th percentile

Revenue

Down

$150,924

Down $13,602 (-8.3%) from 2024

Expenses

Up

$200,712

Up $15,699 (+8.5%) from 2024

Net Income

Down

-$49,788

Down $29,301 (-143%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2025

Assets$1,139,932
Liabilities$27,585
Net Assets$1,112,347
Open 2025 Filing

Operations Trend

Revenue Growth11th 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

2025

Revenue$150,924
Expenses$200,712
Net Income-$49,788
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Aug 12, 2025
Return Version
2024v5.2
Gross Receipts
$150,924
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$1,162,135$1,112,347▼ $49,788
Land, Buildings, and Equipment, Net$769,133$734,178▼ $34,955
Savings and Temporary Cash Investments$339,899$343,551▲ $3,652
Cash and Non-Interest-Bearing Accounts$65,585$49,657▼ $15,928
Pledges and Grants Receivable$14,324$12,240▼ $2,084
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$1,189,247$1,139,932▼ $49,315
Other Assets Total$306$306→ $0
Liabilities
Other Liabilities$26,005$25,855▼ $150
Accounts Payable and Accrued Expenses$1,107$1,730▲ $623
Total Liabilities$27,112$27,585▲ $473
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,162,135$1,112,347▼ $49,788
Total Liabilities and Net Assets / Fund Balance$1,189,247$1,139,932▼ $49,315

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$23,624--
Land$14,000--
Equipment$696,554$1,310,907-
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleBaseTotal
Kerry MitchellPresident$396$396
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$147,272
Investment Income
$3,652
Other Revenue
$0
Change in Net Assets
$-49,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$133,524
Salaries, Compensation, and Employee Benefits$65,162
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$60,531--$60,531
Depreciation Depletion$34,954--$34,954
Insurance$13,060--$13,060
All Other Expenses$7,259--$7,259
Payroll Taxes$4,631--$4,631
Other Expenses$3,060--$3,060
Benefits to Members$2,026--$2,026
Advertising$942--$942
Office Expenses$859--$859
Conferences and Meetings$445--$445
Total Functional Expenses$200,712$0$0$200,712
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 6

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

PART VI, SECTION A, LINE 7A

“Members vote for board members at the annual meeting.”

PART VI, SECTION A, LINE 8A

“All items discussed at monthly meetings are documented.”

Part VI, Section B, Line 11

“Provided at the annual meeting, but available any time.”

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
2025-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kerry Mitchell
Formed
1977
Legal Domicile
Ms
Voting Board Members
5
Independent Board Members
5
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 contract labor, fuel expense, bank charges, dues, random taxes, and telephone/internet expense.”

Raw XML Appendix286 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/TaxYr02024

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,139,932
Liabilities
$27,585
Net assets
$1,112,347
Revenue
$150,924
Expenses
$200,712
Net income
-$49,788
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