Civic Intelligence

Mount Olive Water Association

990 • Fiscal year 2022 • EIN 71-0567766

Mar 01, 2021 to Feb 28, 2022 • Filed on Sep 09, 2022

PO Box 326Elkins, AR 72727-0326

(479) 643-2324

Siviq Scores

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

Liabilities / Assets

54th percentile

0.31x

Higher debt load relative to assets than 54% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

48th percentile

1.13x

Higher debt load relative to revenue than 48% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Net Margin

39th percentile

1.9%

Higher net margin than 39% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2022

Asset Growth

35th percentile

-0.6%

Faster asset growth than 35% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

46th percentile

3.6%

Faster revenue growth than 46% of similar nonprofits.

2022 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$6,742,019

Down $41,371 (-0.6%) from 2021

Net Assets

Up

$4,681,426

Up $34,707 (+0.7%) from 2021

Liabilities

Down

$2,060,593

Down $76,078 (-3.6%) from 2021

Revenue

Up

$1,825,037

Up $63,370 (+3.6%) from 2021

Expenses

Up

$1,790,330

Up $17,341 (+1.0%) from 2021

Net Income

Up

$34,707

Up $46,029 (+407%) from 2021

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $7,596,027Liabilities 2010: $3,174,432Net Assets 2010: $4,421,5952010Assets 2011: $7,464,297Liabilities 2011: $3,203,885Net Assets 2011: $4,260,4122011Assets 2012: $7,160,289Liabilities 2012: $3,219,336Net Assets 2012: $3,940,9532012Assets 2013: $7,010,698Liabilities 2013: $3,106,136Net Assets 2013: $3,904,5622013Assets 2014: $7,205,193Liabilities 2014: $3,027,994Net Assets 2014: $4,177,1992014Assets 2015: $7,166,709Liabilities 2015: $2,867,797Net Assets 2015: $4,298,9122015Assets 2016: $6,998,988Liabilities 2016: $2,786,512Net Assets 2016: $4,212,4762016Assets 2017: $6,928,902Liabilities 2017: $2,641,517Net Assets 2017: $4,287,3852017Assets 2018: $6,883,981Liabilities 2018: $2,524,394Net Assets 2018: $4,359,5872018Assets 2019: $7,240,747Liabilities 2019: $2,386,448Net Assets 2019: $4,854,2992019Assets 2020: $6,910,003Liabilities 2020: $2,251,962Net Assets 2020: $4,658,0412020Assets 2021: $6,783,390Liabilities 2021: $2,136,671Net Assets 2021: $4,646,7192021Assets 2022: $6,742,019Liabilities 2022: $2,060,593Net Assets 2022: $4,681,4262022Assets 2023: $12,279,032Liabilities 2023: $4,291,268Net Assets 2023: $7,987,7642023Assets 2024: $15,167,022Liabilities 2024: $4,096,587Net Assets 2024: $11,070,4352024Assets 2025: $16,585,523Liabilities 2025: $3,743,898Net Assets 2025: $12,841,6252025

Highlighted filing

2022

Assets$6,742,019
Liabilities$2,060,593
Net Assets$4,681,426

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,269,0042010Expenses 2011: $1,315,2862011Expenses 2012: $1,544,9432012Revenue 2013: $1,305,516Expenses 2013: $1,380,934Net Income 2013: -$75,4182013Revenue 2014: $1,588,691Expenses 2014: $1,326,279Net Income 2014: $262,4122014Revenue 2015: $1,433,615Expenses 2015: $1,370,668Net Income 2015: $62,9472015Revenue 2016: $1,476,828Expenses 2016: $1,563,264Net Income 2016: -$86,4362016Revenue 2017: $1,458,064Expenses 2017: $1,407,335Net Income 2017: $50,7292017Revenue 2018: $1,531,138Expenses 2018: $1,458,936Net Income 2018: $72,2022018Revenue 2019: $2,027,144Expenses 2019: $1,532,432Net Income 2019: $494,7122019Revenue 2020: $1,660,613Expenses 2020: $1,856,871Net Income 2020: -$196,2582020Revenue 2021: $1,761,667Expenses 2021: $1,772,989Net Income 2021: -$11,3222021Revenue 2022: $1,825,037Expenses 2022: $1,790,330Net Income 2022: $34,7072022Revenue 2023: $5,404,232Expenses 2023: $2,097,894Net Income 2023: $3,306,3382023Revenue 2024: $5,191,690Expenses 2024: $2,109,019Net Income 2024: $3,082,6712024Revenue 2025: $3,983,197Expenses 2025: $2,212,007Net Income 2025: $1,771,1902025

Highlighted filing

2022

Revenue$1,825,037
Expenses$1,790,330
Net Income$34,707
Jump To
Filing Snapshot
Filing Period
Mar 1, 2021 to Feb 28, 2022
Signed
Sep 9, 2022
Return Version
2021v4.0
Gross Receipts
$1,825,037
Mission and Program Overview

Mission

To provide fresh water in rural areas.

To provide clean water to rural areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,937,574$4,627,414▼ $310,160
Savings and Temporary Cash Investments$936,065$955,102▲ $19,037
Cash and Non-Interest-Bearing Accounts$579,302$757,251▲ $177,949
Inventories for Sale or Use$138,915$172,786▲ $33,871
Accounts Receivable$170,945$161,436▼ $9,509
Prepaid Expenses and Deferred Charges$8,324$11,439▲ $3,115
Total Assets$6,783,390$6,742,019▼ $41,371
Other Assets Total$12,265$56,591▲ $44,326
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,793,833$1,661,097▼ $132,736
Other Liabilities$239,226$254,336▲ $15,110
Accounts Payable and Accrued Expenses$103,612$145,160▲ $41,548
Total Liabilities$2,136,671$2,060,593▼ $76,078
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,646,719$4,681,426▲ $34,707
Total Net Assets Fund Balance$4,646,719$4,681,426▲ $34,707
Total Liabilities and Net Assets / Fund Balance$6,783,390$6,742,019▼ $41,371

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,348,167$6,568,897$10,917,064
Equipment$114,898$1,107,772$1,222,670
Buildings$113,451$145,815$259,266
Land$50,898-$50,898
Compensation and Service Providers

Board Members and Trustees

NameTitle
Tom UngerPresident
Todd SociaSecretary
Marla WalkerTreasurer
Greg WheelerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,821,101
Investment Income
$3,936
Other Revenue
$0
Change in Net Assets
$34,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,825,037
Total Revenue per Audited Statements
$1,825,037
Total Revenue per Form 990
$1,825,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,376,661
Salaries, Compensation, and Employee Benefits$413,669
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$325,918$4,515-$330,433
Other Salaries and Wages$166,272$115,337-$281,609
Other Employee Benefits$63,222$43,855-$107,077
Occupancy$62,998$43,700-$106,698
Interest$82,363$1,618-$83,981
Travel$35,749--$35,749
Insurance$17,684$12,267-$29,951
Office Expenses$19,508$8,523-$28,031
Payroll Taxes$14,751$10,232-$24,983
Other Expenses$5,812$14,688-$20,500
All Other Expenses$16,727$2,552-$19,279
Total Functional Expenses$1,533,043$257,287$0$1,790,330

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,790,330
Total Expenses per Audited Statements$1,790,330
Total Expenses per Form 990$1,790,330
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
Meter Deposits Payable$254,336
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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 6

All water customers must be members. The membership fee is refunded upon leaving the system. All members may vote at the annual membership meeting. All members may attend any board meeting.

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

Conflict of interest policy is in effect requiring any potential conflict of interest be disclosed and if action warrents, disqualification of board or employee from discussion or action on the potential conflict.

Form 990, Page 6, Part VI, Line 19

All documents of the association are available for inspection upon request. If copies are requested, fees may be charged depending upon the nature and quantity of the copies requested. Documents are avaialble during regular business hours at the association's office. Original documents are not allowed to leave the business office.

Filing and Contact Details

Filer

Filer Name
Mount Olive Water Association
EIN
71-0567766
Phone
4796432324
Address
PO BOX 326, ELKINS, AR 72727-0326

Signing Officer

Name
Greg Wheeler
Title
Vice President
Phone
4796432324
Signed
2022-09-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Wheeler
Formed
1979
Legal Domicile
Ar
Voting Board Members
4
Independent Board Members
0
Employees
10

Preparer

Firm
Prz Cpas & Advisors
Address
4200 JENNY LIND RD STE B, FORT SMITH, AR 72901
Preparer
Marc Lux CPA
Phone
4796490888
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Generally accepted accounting principles require tax effects from an uncertain tax position to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50% likely to be recognized upon ultimate settlement with the taxing authority is recorded. The association's primary tax positions relate to its status as a not-for- profit entity exempt from income taxes and classification of activities related to its exempt purpose. The association has analyzed its tax positions taken for filings with the internal revenue service. It believes that its filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on its financial condition, results of operations, or cash flows.

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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/SupplementalInformationDetail/ExplanationTxt0GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ASSOCIATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR- PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. THE ASSOCIATION HAS ANALYZED ITS TAX POSITIONS TAKEN FOR FILINGS WITH THE INTERNAL REVENUE SERVICE. IT BELIEVES THAT ITS FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON ITS FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04627414
IRS990ScheduleD/TotalExpensesPerForm990Amt01790330
IRS990ScheduleD/TotalLiabilityAmt0254336
IRS990ScheduleD/TotalRevenuePerForm990Amt01825037
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01825037
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01790330
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL WATER CUSTOMERS MUST BE MEMBERS. THE MEMBERSHIP FEE IS REFUNDED UPON LEAVING THE SYSTEM. ALL MEMBERS MAY VOTE AT THE ANNUAL MEMBERSHIP MEETING. ALL MEMBERS MAY ATTEND ANY BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICT OF INTEREST POLICY IS IN EFFECT REQUIRING ANY POTENTIAL CONFLICT OF INTEREST BE DISCLOSED AND IF ACTION WARRENTS, DISQUALIFICATION OF BOARD OR EMPLOYEE FROM DISCUSSION OR ACTION ON THE POTENTIAL CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS OF THE ASSOCIATION ARE AVAILABLE FOR INSPECTION UPON REQUEST. IF COPIES ARE REQUESTED, FEES MAY BE CHARGED DEPENDING UPON THE NATURE AND QUANTITY OF THE COPIES REQUESTED. DOCUMENTS ARE AVAIALBLE DURING REGULAR BUSINESS HOURS AT THE ASSOCIATION'S OFFICE. ORIGINAL DOCUMENTS ARE NOT ALLOWED TO LEAVE THE BUSINESS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06783390
IRS990/TotalAssetsEOYAmt06742019
IRS990/TotalAssetsGrp/BOYAmt06783390
IRS990/TotalAssetsGrp/EOYAmt06742019
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0257287
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01533043
IRS990/TotalFunctionalExpensesGrp/TotalAmt01790330
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02136671
IRS990/TotalLiabilitiesEOYAmt02060593
IRS990/TotalLiabilitiesGrp/BOYAmt02136671
IRS990/TotalLiabilitiesGrp/EOYAmt02060593
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04646719
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04681426
IRS990/TotalProgramServiceRevenueAmt01821101
IRS990/TotalRevenueGrp/ExclusionAmt03936
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01821101
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01825037
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06783390
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06742019
IRS990/TravelGrp/ProgramServicesAmt035749
IRS990/TravelGrp/TotalAmt035749
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012319 HWY 16
IRS990/USAddress/CityNm0COMBS
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072721
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.MTOLIVEWATER.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREG WHEELER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04796432324
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-09-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MOUNT OLIVE WATER ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0MOUN
ReturnHeader/Filer/EIN0710567766
ReturnHeader/Filer/PhoneNum04796432324
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 326
ReturnHeader/Filer/USAddress/CityNm0ELKINS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd0727270326
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0843068935
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRZ CPAS & ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04200 JENNY LIND RD STE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FORT SMITH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072901
ReturnHeader/PreparerPersonGrp/PhoneNum04796490888
ReturnHeader/PreparerPersonGrp/PreparationDt02022-09-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARC LUX CPA
ReturnHeader/ReturnTs02022-09-09T09:24:24-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GREG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WHEELER
ReturnHeader/TaxPeriodBeginDt02021-03-01
ReturnHeader/TaxPeriodEndDt02022-02-28
ReturnHeader/TaxYr02021

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$3.74$12.8$3.98$2.21$1.77
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.2$4.10$11.1$5.19$2.11$3.08
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$4.29$7.99$5.40$2.10$3.31
2022Detailed filing. Detailed filing data is available for this year.$6.74$2.06$4.68$1.83$1.79$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.78$2.14$4.65$1.76$1.77$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.91$2.25$4.66$1.66$1.86$0.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.24$2.39$4.85$2.03$1.53$0.49
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.88$2.52$4.36$1.53$1.46$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.93$2.64$4.29$1.46$1.41$0.05
2016Detailed filing. Detailed filing data is available for this year.$7.00$2.79$4.21$1.48$1.56$0.09
2015Detailed filing. Detailed filing data is available for this year.$7.17$2.87$4.30$1.43$1.37$0.06
2014Detailed filing. Detailed filing data is available for this year.$7.21$3.03$4.18$1.59$1.33$0.26
2013Summary only. Only limited summary data is available for this year.$7.01$3.11$3.90$1.31$1.38$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.16$3.22$3.94$1.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.46$3.20$4.26$1.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.60$3.17$4.42$1.27