Civic Intelligence

Friendship Community Water System

EIN 64-0692612 • 501(c)12 • Mccomb, MS

Profile

RURAL WATER ASSOCIATION

P O Box 872Mccomb, MS 39649

n/A

Siviq Scores

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

Liabilities / Assets

66th percentile

0.36x

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

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

Liabilities / Revenue

87th percentile

3.27x

Higher debt load relative to revenue than 87% of similar nonprofits.

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

Net Margin

28th percentile

-3.2%

Higher net margin than 28% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

91st percentile

24%

Faster asset growth than 91% of similar nonprofits.

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

Revenue Growth

28th percentile

-0.3%

Faster revenue growth than 28% of similar nonprofits.

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

Assets

Up

$4,642,928

Up $889,382 (+24%) from 2023

Liabilities

Down

$1,661,827

Down $51,748 (-3.0%) from 2023

Net Assets

Up

$2,981,101

Up $941,130 (+46%) from 2023

Revenue

Down

$507,446

Down $1,556 (-0.3%) from 2023

Expenses

Up

$523,449

Up $99,538 (+23%) from 2023

Net Income

Down

-$16,003

Down $101,094 (-119%) from 2023

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2014: $1,086,935Liabilities 2014: $176,102Net Assets 2014: $910,8332014Assets 2015: $1,154,248Liabilities 2015: $170,659Net Assets 2015: $983,5892015Assets 2016: $1,291,123Liabilities 2016: $163,109Net Assets 2016: $1,128,0142016Assets 2017: $1,447,002Liabilities 2017: $150,123Net Assets 2017: $1,296,8792017Assets 2018: $2,030,314Liabilities 2018: $583,552Net Assets 2018: $1,446,7622018Assets 2019: $2,106,324Liabilities 2019: $613,424Net Assets 2019: $1,492,9002019Assets 2020: $2,107,688Liabilities 2020: $592,829Net Assets 2020: $1,514,8592020Assets 2021: $2,215,649Liabilities 2021: $608,130Net Assets 2021: $1,607,5192021Assets 2022: $2,346,857Liabilities 2022: $691,574Net Assets 2022: $1,655,2832022Assets 2023: $3,753,546Liabilities 2023: $1,713,575Net Assets 2023: $2,039,9712023Assets 2024: $4,642,928Liabilities 2024: $1,661,827Net Assets 2024: $2,981,1012024

Highlighted filing

2024

Assets$4,642,928
Liabilities$1,661,827
Net Assets$2,981,101

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: $370,770Expenses 2014: $308,591Net Income 2014: $62,1792014Revenue 2015: $376,108Expenses 2015: $303,352Net Income 2015: $72,7562015Revenue 2016: $407,091Expenses 2016: $262,666Net Income 2016: $144,4252016Revenue 2017: $427,750Expenses 2017: $258,883Net Income 2017: $168,8672017Revenue 2018: $469,159Expenses 2018: $319,276Net Income 2018: $149,8832018Revenue 2019: $478,751Expenses 2019: $432,613Net Income 2019: $46,1382019Revenue 2020: $492,359Expenses 2020: $470,400Net Income 2020: $21,9592020Revenue 2021: $510,779Expenses 2021: $418,119Net Income 2021: $92,6602021Revenue 2022: $505,439Expenses 2022: $457,675Net Income 2022: $47,7642022Revenue 2023: $509,002Expenses 2023: $423,911Net Income 2023: $85,0912023Revenue 2024: $507,446Expenses 2024: $523,449Net Income 2024: -$16,0032024

Highlighted filing

2024

Revenue$507,446
Expenses$523,449
Net Income-$16,003

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Feb 3, 2025
Return Version
2024v5.2
Gross Receipts
$507,446
Mission and Program Overview

Mission

RURAL WATER ASSOCIATION

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,319,423$3,320,123▲ $2,000,700
Rtn Earn Endowment Incm Other Fnds$1,933,191$2,874,321▲ $941,130
Cash and Non-Interest-Bearing Accounts$508,528$536,393▲ $27,865
Savings and Temporary Cash Investments$250,435$250,928▲ $493
Pd in Cap Srpls Land Bldg Eqp Fund$106,780$106,780→ $0
Accounts Receivable$101,662$76,285▼ $25,377
Prepaid Expenses and Deferred Charges$17,128$19,114▲ $1,986
Total Assets$3,753,546$4,642,928▲ $889,382
Other Assets Total$1,556,370$440,085▼ $1,116,285
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,660,335$1,616,803▼ $43,532
Other Liabilities$35,741$37,750▲ $2,009
Accounts Payable and Accrued Expenses$17,499$7,274▼ $10,225
Total Liabilities$1,713,575$1,661,827▼ $51,748
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,039,971$2,981,101▲ $941,130
Total Liabilities and Net Assets / Fund Balance$3,753,546$4,642,928▲ $889,382

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,080,068$1,835,089$4,915,157
Buildings$137,671$19,361$157,032
Land$102,384-$102,384
Other Assets Org$79,404--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bobby MckennisVice President$1,200$1,200
Janekwa BrownSecretary$1,200$1,200
Wayne BusbyPresident$1,200$1,200
Debbie HeringDirector$1,200$1,200
Douglas J SwartsDirector$1,200$1,200
Gene NormanDirector$1,200$1,200
Lavaughn HamiltonDirector$1,200$1,200
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$497,688
Investment Income
$9,758
Other Revenue
$0
Change in Net Assets
$-16,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$523,449
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$267,376$0$0$267,376
Depreciation Depletion$0$0$0$111,372
Fees for Services Accounting$49,421$0$0$49,421
Interest$35,824$0$0$35,824
Insurance$13,732$0$0$13,732
Other Expenses$8,100$0$0$8,100
Office Expenses$4,964$0$0$4,964
Total Functional Expenses$412,077$0$0$523,449
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 Water Deposits$35,994
Accrued Interest$1,525
Sales Tax Payable$231
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
Filing and Contact Details

Filer

Filer Name
Friendship Community Water System
EIN
64-0692612
Phone
6012493502
Address
P O BOX 872, MCCOMB, MS 39649

Signing Officer

Name
Wayne Busby
Title
President
Phone
6012493502
Signed
2025-02-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wayne Busby
Formed
1974
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
JLG Public Accounting Inc
Address
612 Delaware Avenue Suite 10, McComb, MS 39648
Preparer
Joanie L Golman
Phone
6016848130
Supplemental Narrative

Additional Explanations

Pt XI

Line 9: increase due to arpa grant funds received

Other

Part iii line 4d: all other accomplishments. Provide clean drinking water to all association members

Pt VI, Line 6

Classes of members or stockholders. The members have the ability by voting at the annual meeting to elect directors. Director terms end on a rotating basis.

Pt VI, Line 7A

Election of members and their rights. The members have the ability by voting at the annual meeting to elect directors. Director terms end on a rotating basis.

Pt VI, Line 8B

Dcumentation by committee explanation. There are no separate committees. All matters are handled by the entire board of directors.

Pt VI, Line 11B

Organizations process to review form 990. The 990 is reviewed by all present at a meeting of directors prior to filing.

Pt VI, Line 19

Governing documents disclosure explanation. The organization has an annual meeting of members each year. The financial statements and governing documents are made available at the meeting.

Form 990, Part IX, Line 24E

Operator expense 52140. 52140.

Form 990, Part IX, Line 24E

POSTAGE 5086. 5086.

Form 990, Part IX, Line 24E

Repairs & maintenance 112140. 112140.

Form 990, Part IX, Line 24E

SUPPLIES 35760. 35760.

Form 990, Part IX, Line 24E

TAX & LICENSE

Form 990, Part IX, Line 24E

UTILITIES 37229. 37229.

Form 990, Part IX, Line 24E

Outside services 900. 900.

Form 990, Part IX, Line 24E

Analysis fees 3030. 3030.

Form 990, Part IX, Line 24E

Water tank management 19606. 19606.

Form 990, Part IX, Line 24E

FUEL 1485. 1485.

Raw XML Appendix385 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/OtherLiabilitiesOrgGrp/Amt035994
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2231
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER WATER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SALES TAX PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03320123
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0440085
IRS990ScheduleD/TotalLiabilityAmt037750
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 9: INCREASE DUE TO ARPA GRANT FUNDS RECEIVED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PART III LINE 4D: ALL OTHER ACCOMPLISHMENTS. PROVIDE CLEAN DRINKING WATER TO ALL ASSOCIATION MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CLASSES OF MEMBERS OR STOCKHOLDERS. THE MEMBERS HAVE THE ABILITY BY VOTING AT THE ANNUAL MEETING TO ELECT DIRECTORS. DIRECTOR TERMS END ON A ROTATING BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ELECTION OF MEMBERS AND THEIR RIGHTS. THE MEMBERS HAVE THE ABILITY BY VOTING AT THE ANNUAL MEETING TO ELECT DIRECTORS. DIRECTOR TERMS END ON A ROTATING BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DCUMENTATION BY COMMITTEE EXPLANATION. THERE ARE NO SEPARATE COMMITTEES. ALL MATTERS ARE HANDLED BY THE ENTIRE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ORGANIZATIONS PROCESS TO REVIEW FORM 990. THE 990 IS REVIEWED BY ALL PRESENT AT A MEETING OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS DISCLOSURE EXPLANATION. THE ORGANIZATION HAS AN ANNUAL MEETING OF MEMBERS EACH YEAR. THE FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE AT THE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OPERATOR EXPENSE 52140. 52140.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8POSTAGE 5086. 5086.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9REPAIRS & MAINTENANCE 112140. 112140.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10SUPPLIES 35760. 35760.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11TAX & LICENSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12UTILITIES 37229. 37229.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13OUTSIDE SERVICES 900. 900.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14ANALYSIS FEES 3030. 3030.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15WATER TANK MANAGEMENT 19606. 19606.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16FUEL 1485. 1485.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc16Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03753546
IRS990/TotalAssetsEOYAmt04642928
IRS990/TotalAssetsGrp/BOYAmt03753546
IRS990/TotalAssetsGrp/EOYAmt04642928
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0412077
IRS990/TotalFunctionalExpensesGrp/TotalAmt0523449
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01713575
IRS990/TotalLiabilitiesEOYAmt01661827
IRS990/TotalLiabilitiesGrp/BOYAmt01713575
IRS990/TotalLiabilitiesGrp/EOYAmt01661827
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02039971
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02981101
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0497688
IRS990/TotalReportableCompFromOrgAmt08400
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0507446
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0507446
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03753546
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04642928
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O BOX 872
IRS990/USAddress/CityNm0MCCOMB
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd039649
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WAYNE BUSBY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06012493502
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRIENDSHIP COMMUNITY WATER SYSTEM
ReturnHeader/Filer/BusinessNameControlTxt0FRIE
ReturnHeader/Filer/EIN0640692612
ReturnHeader/Filer/PhoneNum06012493502
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 872
ReturnHeader/Filer/USAddress/CityNm0MCCOMB
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd039649
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0873884908
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JLG Public Accounting Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0612 Delaware Avenue Suite 10
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0McComb
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd039648
ReturnHeader/PreparerPersonGrp/PhoneNum06016848130
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOANIE L GOLMAN
ReturnHeader/ReturnTs02025-09-12T06:25:03-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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