Civic Intelligence

Milton Water System Inc

990 • Fiscal year 2020 • EIN 72-0806428

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 08, 2021

Organization ProfileN/A
PO Box 278Milton, LA 70558-0278

(337) 856-6206

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.32x

Higher debt load relative to assets than 52% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

48th percentile

1.32x

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

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

45th percentile

$0

Higher top officer pay than 45% of similar nonprofits.

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

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Asset Growth

93rd percentile

20%

Faster asset growth than 93% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

5.7%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$6,767,870

Up $1,116,066 (+20%) from 2019

Net Assets

Up

$4,607,425

Up $1,248,836 (+37%) from 2019

Liabilities

Down

$2,160,445

Down $132,770 (-5.8%) from 2019

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin64th percentile

Revenue

Up

$1,640,494

Up $89,033 (+5.7%) from 2019

Expenses

Down

$1,436,973

Down $24,654 (-1.7%) from 2019

Net Income

Up

$203,521

Up $113,687 (+127%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$30M$20M$10M$0Assets 2011: $4,277,942Liabilities 2011: $3,024,268Net Assets 2011: $1,253,6742011Assets 2012: $4,554,890Liabilities 2012: $2,974,364Net Assets 2012: $1,580,5262012Assets 2013: $4,687,405Liabilities 2013: $2,921,073Net Assets 2013: $1,766,3322013Assets 2014: $4,909,841Liabilities 2014: $2,832,775Net Assets 2014: $2,077,0662014Assets 2015: $5,626,508Liabilities 2015: $2,739,197Net Assets 2015: $2,887,3112015Assets 2016: $5,639,716Liabilities 2016: $2,557,920Net Assets 2016: $3,081,7962016Assets 2017: $5,665,912Liabilities 2017: $2,344,472Net Assets 2017: $3,321,4402017Assets 2018: $5,674,828Liabilities 2018: $2,154,926Net Assets 2018: $3,519,9022018Assets 2019: $5,651,804Liabilities 2019: $2,293,215Net Assets 2019: $3,358,5892019Assets 2020: $6,767,870Liabilities 2020: $2,160,445Net Assets 2020: $4,607,4252020Assets 2021: $6,857,582Liabilities 2021: $2,150,032Net Assets 2021: $4,707,5502021Assets 2022: $7,344,490Liabilities 2022: $2,146,787Net Assets 2022: $5,197,7032022Assets 2023: $7,224,145Liabilities 2023: $2,072,875Net Assets 2023: $5,151,2702023Assets 2024: $11,890,959Liabilities 2024: $4,837,485Net Assets 2024: $7,053,4742024Assets 2025: $20,477,630Liabilities 2025: $8,758,515Net Assets 2025: $11,719,1152025

Highlighted filing

2020

Assets$6,767,870
Liabilities$2,160,445
Net Assets$4,607,425
Open 2020 Filing

Operations Trend

Revenue Growth59th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,139,8312011Expenses 2012: $1,153,3882012Revenue 2013: $1,286,978Expenses 2013: $1,136,674Net Income 2013: $150,3042013Revenue 2014: $1,364,361Expenses 2014: $1,186,729Net Income 2014: $177,6322014Revenue 2015: $1,478,891Expenses 2015: $1,228,377Net Income 2015: $250,5142015Revenue 2016: $1,556,289Expenses 2016: $1,394,926Net Income 2016: $161,3632016Revenue 2017: $1,707,591Expenses 2017: $1,407,778Net Income 2017: $299,8132017Revenue 2018: $1,657,498Expenses 2018: $1,439,681Net Income 2018: $217,8172018Revenue 2019: $1,551,461Expenses 2019: $1,461,627Net Income 2019: $89,8342019Revenue 2020: $1,640,494Expenses 2020: $1,436,973Net Income 2020: $203,5212020Revenue 2021: $1,907,835Expenses 2021: $1,807,710Net Income 2021: $100,1252021Revenue 2022: $1,878,685Expenses 2022: $1,663,079Net Income 2022: $215,6062022Revenue 2023: $1,919,029Expenses 2023: $1,965,464Net Income 2023: -$46,4352023Revenue 2024: $3,941,677Expenses 2024: $2,034,135Net Income 2024: $1,907,5422024Revenue 2025: $6,804,520Expenses 2025: $2,138,480Net Income 2025: $4,666,0402025

Highlighted filing

2020

Revenue$1,640,494
Expenses$1,436,973
Net Income$203,521
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 8, 2021
Return Version
2019v5.2
Gross Receipts
$1,646,758
Mission and Program Overview

Mission

The water system was organized to construct, maintain and operate a private water system that provides water to its members in the area of milton, louisiana.

Maintain & operate a water system constructed for the benefit of members in milton, la.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,710,341$5,633,734▲ $923,393
Cash and Non-Interest-Bearing Accounts$364,565$526,054▲ $161,489
Savings and Temporary Cash Investments$442,851$489,397▲ $46,546
Accounts Receivable$111,854$104,579▼ $7,275
Prepaid Expenses and Deferred Charges$20,718$13,223▼ $7,495
Inventories for Sale or Use$775$183▼ $592
Total Assets$5,651,804$6,767,870▲ $1,116,066
Other Assets Total$700$700→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,892,382$1,797,881▼ $94,501
Other Liabilities$279,447$295,647▲ $16,200
Accounts Payable and Accrued Expenses$121,386$66,917▼ $54,469
Total Liabilities$2,293,215$2,160,445▼ $132,770
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,358,589$4,607,425▲ $1,248,836
Total Net Assets Fund Balance$3,358,589$4,607,425▲ $1,248,836
Total Liabilities and Net Assets / Fund Balance$5,651,804$6,767,870▲ $1,116,066

Asset Categories

AssetBook ValueDepreciationBasis
Land$351,898--
Equipment$5,281,836$4,083,965-
Compensation and Service Providers
Top Officer Pay45th percentile

Board Members and Trustees

NameTitle
Sinda SoileauPresident
Bob BixenmanBoard Member
Glen GuidryBoard Member
Larry SoileauBoard Member
Lisa NoelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,642,147
Investment Income
$-1,653
Other Revenue
$0
Change in Net Assets
$203,521

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,640,494
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,640,494
Total Revenue per Form 990
$1,640,494
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,218,823
Salaries, Compensation, and Employee Benefits$218,150
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$201,909
Depreciation Depletion---$199,523
Interest---$100,055
Insurance---$66,347
Office Expenses---$41,868
All Other Expenses---$37,418
Fees for Services Accounting---$18,135
Payroll Taxes---$16,241
Other Expenses---$10,847
Fees for Services Management---$9,838
Fees for Services Legal---$6,122
Total Functional Expenses$0$0$0$1,436,973

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,524,363
Expenses per Audited Statements$1,436,973
Total Expenses per Form 990$1,436,973
Expenses Not Reported on Form 990$87,390
Expenses Not Reported on Financial Statements$0
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
Member Utility Deposits$295,647
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The water system has 3,998 members who utilize the services of the organization.”

Form 990, Part VI, Section A, Line 7A

“The water system has 3,998 members that elect 5 governing board members.”

Form 990, Part VI, Section A, Line 7B

“Ultimate control resides with members through their ability to elect the board.”

Form 990, Part VI, Section B, Line 11B

“The governing board of directors approve the audited financial statements, then the form 990 is prepared from the audited financial statements.”

Form 990, Part VI, Section C, Line 18

“The organization was created in 1974. It has audited financials that are available to the public at the organization's offices during regular business hours.”

Form 990, Part VI, Section C, Line 19

“The governing board of directors makes the audited financial statements and governing documents available to the general public in their office during regular office hours.”

Page 6 Part VI

“The governing board of directors oversee the audit of its financial statements and the selection of an independent accountant.”

Filing and Contact Details

Filer

Filer Name
Milton Water System Inc
EIN
72-0806428
Phone
3378566206
Address
PO BOX 278, MILTON, LA 70558-0278

Signing Officer

Name
William Theriot
Title
CEO
Phone
3378566206
Signed
2021-02-08
Discuss with paid preparer
Yes

Organization Details

Formed
1974
Legal Domicile
La
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
0

Preparer

Firm
Broussard Poche Llp
Address
146 W MAIN STREET, NEW IBERIA, LA 70560
Preparer
Elizabeth J Moreau
Phone
3373644554
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Current year contributed capital in excess of tax basis (irc section 118) 832,000. Depreciation of contributed capital -87,390.”

Page 12 Part XI Line 8

“Water distribution system discovered as not properly reported prior period adjustment: asset value $326,620 net of accumulated depreciation $25,915 equals $300,705 shown on page 12 part xi, line 8”

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Depreciation of contributed capital 87,390.”

Raw XML Appendix331 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/RevenueSubtotalAmt01640494
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DEPRECIATION OF CONTRIBUTED CAPITAL 87,390.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05633734
IRS990ScheduleD/TotalExpensesPerForm990Amt01436973
IRS990ScheduleD/TotalLiabilityAmt0295647
IRS990ScheduleD/TotalRevenuePerForm990Amt01640494
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01640494
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01524363
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE WATER SYSTEM HAS 3,998 MEMBERS WHO UTILIZE THE SERVICES OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WATER SYSTEM HAS 3,998 MEMBERS THAT ELECT 5 GOVERNING BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ULTIMATE CONTROL RESIDES WITH MEMBERS THROUGH THEIR ABILITY TO ELECT THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BOARD OF DIRECTORS APPROVE THE AUDITED FINANCIAL STATEMENTS, THEN THE FORM 990 IS PREPARED FROM THE AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION WAS CREATED IN 1974. IT HAS AUDITED FINANCIALS THAT ARE AVAILABLE TO THE PUBLIC AT THE ORGANIZATION'S OFFICES DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING BOARD OF DIRECTORS MAKES THE AUDITED FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC IN THEIR OFFICE DURING REGULAR OFFICE HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CURRENT YEAR CONTRIBUTED CAPITAL IN EXCESS OF TAX BASIS (IRC SECTION 118) 832,000. DEPRECIATION OF CONTRIBUTED CAPITAL -87,390.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE GOVERNING BOARD OF DIRECTORS OVERSEE THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8WATER DISTRIBUTION SYSTEM DISCOVERED AS NOT PROPERLY REPORTED PRIOR PERIOD ADJUSTMENT: ASSET VALUE $326,620 NET OF ACCUMULATED DEPRECIATION $25,915 EQUALS $300,705 SHOWN ON PAGE 12 PART XI, LINE 8
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PAGE 6 PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8PAGE 12 PART XI LINE 8
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05651804
IRS990/TotalAssetsEOYAmt06767870
IRS990/TotalAssetsGrp/BOYAmt05651804
IRS990/TotalAssetsGrp/EOYAmt06767870
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/TotalAmt01436973
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02293215
IRS990/TotalLiabilitiesEOYAmt02160445
IRS990/TotalLiabilitiesGrp/BOYAmt02293215
IRS990/TotalLiabilitiesGrp/EOYAmt02160445
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03358589
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04607425
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt01642147
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04611
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01635883
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01640494
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05651804
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06767870
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt0PO BOX 278
IRS990/USAddress/CityNm0MILTON
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd0705580278
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM THERIOT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03378566206
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILTON WATER SYSTEM INC
ReturnHeader/Filer/BusinessNameControlTxt0MILT
ReturnHeader/Filer/EIN0720806428
ReturnHeader/Filer/PhoneNum03378566206
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 278
ReturnHeader/Filer/USAddress/CityNm0MILTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd0705580278
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0720538016
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BROUSSARD POCHE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0146 W MAIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW IBERIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd070560
ReturnHeader/PreparerPersonGrp/PhoneNum03373644554
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELIZABETH J MOREAU
ReturnHeader/ReturnTs02021-02-08T11:23:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$6,767,870
Liabilities
$2,160,445
Net assets
$4,607,425
Revenue
$1,640,494
Expenses
$1,436,973
Net income
$203,521
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$20.5$8.76$11.7$6.80$2.14$4.67
2024Detailed filing. Detailed filing data is available for this year.$11.9$4.84$7.05$3.94$2.03$1.91
2023Detailed filing. Detailed filing data is available for this year.$7.22$2.07$5.15$1.92$1.97$0.05
2022Detailed filing. Detailed filing data is available for this year.$7.34$2.15$5.20$1.88$1.66$0.22
2021Detailed filing. Detailed filing data is available for this year.$6.86$2.15$4.71$1.91$1.81$0.10
2020Detailed filing. Detailed filing data is available for this year.$6.77$2.16$4.61$1.64$1.44$0.20
2019Detailed filing. Detailed filing data is available for this year.$5.65$2.29$3.36$1.55$1.46$0.09
2018Detailed filing. Detailed filing data is available for this year.$5.67$2.15$3.52$1.66$1.44$0.22
2017Detailed filing. Detailed filing data is available for this year.$5.67$2.34$3.32$1.71$1.41$0.30
2016Summary only. Only limited summary data is available for this year.$5.64$2.56$3.08$1.56$1.39$0.16
2015Detailed filing. Detailed filing data is available for this year.$5.63$2.74$2.89$1.48$1.23$0.25
2014Detailed filing. Detailed filing data is available for this year.$4.91$2.83$2.08$1.36$1.19$0.18
2013Summary only. Only limited summary data is available for this year.$4.69$2.92$1.77$1.29$1.14$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.55$2.97$1.58$1.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.28$3.02$1.25$1.14