Civic Intelligence

Kentuckytown Water Supply Corporation

EIN 74-1705672 • 501(c)12 • Tom Bean, TX

Profile

KentuckyTown Water Supply Corporation provides its members - owners with fresh water through its distribution system.

PO Box 99Tom Bean, TX 75489

kentuckytownwsc.org

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

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

Liabilities / Revenue

12th percentile

0.02x

Higher debt load relative to revenue than 12% of similar nonprofits.

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

Net Margin

89th percentile

42%

Higher net margin than 89% of similar nonprofits.

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

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

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

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

Asset Growth

81st percentile

10%

Faster asset growth than 81% of similar nonprofits.

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

Revenue Growth

84th percentile

30%

Faster revenue growth than 84% of similar nonprofits.

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

Assets

Up

$4,811,977

Up $452,386 (+10%) from 2023

Liabilities

Up

$17,258

Up $1 (+0.0%) from 2023

Net Assets

Up

$4,794,719

Up $452,385 (+10%) from 2023

Revenue

Up

$1,079,413

Up $250,309 (+30%) from 2023

Expenses

Up

$627,028

Up $23,108 (+3.8%) from 2023

Net Income

Up

$452,385

Up $227,201 (+101%) 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 2015: $2,669,511Liabilities 2015: $24,201Net Assets 2015: $2,645,3102015Assets 2016: $2,795,121Liabilities 2016: $19,211Net Assets 2016: $2,775,9102016Assets 2017: $2,922,278Liabilities 2017: $20,609Net Assets 2017: $2,901,6692017Assets 2018: $3,094,692Liabilities 2018: $21,983Net Assets 2018: $3,072,7092018Assets 2019: $3,274,094Liabilities 2019: $15,023Net Assets 2019: $3,259,0712019Assets 2020: $3,563,507Liabilities 2020: $17,260Net Assets 2020: $3,546,2472020Assets 2021: $3,799,925Liabilities 2021: $17,257Net Assets 2021: $3,782,6682021Assets 2022: $4,115,199Liabilities 2022: $17,256Net Assets 2022: $4,097,9432022Assets 2023: $4,359,591Liabilities 2023: $17,257Net Assets 2023: $4,342,3342023Assets 2024: $4,811,977Liabilities 2024: $17,258Net Assets 2024: $4,794,7192024

Highlighted filing

2024

Assets$4,811,977
Liabilities$17,258
Net Assets$4,794,719

Operations Trend

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

$1.5M$1.0M$500K$0Revenue 2015: $559,829Expenses 2015: $483,771Net Income 2015: $76,0582015Revenue 2016: $574,732Expenses 2016: $444,132Net Income 2016: $130,6002016Revenue 2017: $619,870Expenses 2017: $489,407Net Income 2017: $130,4632017Revenue 2018: $661,329Expenses 2018: $490,289Net Income 2018: $171,0402018Revenue 2019: $641,169Expenses 2019: $454,807Net Income 2019: $186,3622019Revenue 2020: $757,003Expenses 2020: $469,827Net Income 2020: $287,1762020Revenue 2021: $751,295Expenses 2021: $414,981Net Income 2021: $336,3142021Revenue 2022: $834,103Expenses 2022: $518,828Net Income 2022: $315,2752022Revenue 2023: $829,104Expenses 2023: $603,920Net Income 2023: $225,1842023Revenue 2024: $1,079,413Expenses 2024: $627,028Net Income 2024: $452,3852024

Highlighted filing

2024

Revenue$1,079,413
Expenses$627,028
Net Income$452,385

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 21, 2025
Return Version
2024v5.0
Gross Receipts
$1,079,413
Mission and Program Overview

Mission

KentuckyTown Water Supply Corporation provides its members - owners with fresh water through its distribution system.

Kentuckytown water supply corporation provides its members/owners with fresh water through its distribution system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,976,880$2,046,174▲ $69,294
Land, Buildings, and Equipment, Net$1,795,175$1,867,655▲ $72,480
Cash and Non-Interest-Bearing Accounts$551,259$840,892▲ $289,633
Accounts Receivable$36,277$36,277→ $0
Prepaid Expenses and Deferred Charges-$20,979-
Total Assets$4,359,591$4,811,977▲ $452,386
Liabilities
Deferred Revenue$8,772$8,772→ $0
Accounts Payable and Accrued Expenses$6,249$6,250▲ $1
Other Liabilities$2,236$2,236→ $0
Total Liabilities$17,257$17,258▲ $1
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,342,334$4,794,719▲ $452,385
Total Net Assets Fund Balance$4,342,334$4,794,719▲ $452,385
Total Liabilities and Net Assets / Fund Balance$4,359,591$4,811,977▲ $452,386

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,841,588$2,293,192$4,134,780
Equipment$3,433$57,796$61,229
Land$22,634-$22,634
Compensation and Service Providers

Board Members and Trustees

NameTitle
Earl ChesserPresident
Jerry ByersDirector
Lanoel BondDirector
Don WilliamsSecretary/tr
Dennis SoutherlandVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,009,784
Investment Income
$69,629
Other Revenue
$0
Change in Net Assets
$452,385

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,079,413
Total Revenue per Audited Statements
$1,079,413
Total Revenue per Form 990
$1,079,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$566,139
Salaries, Compensation, and Employee Benefits$60,889
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$90,116--$90,116
Fees for Services Other$68,976$12,501-$81,477
Other Salaries and Wages$48,459--$48,459
Office Expenses$23,439--$23,439
Insurance$18,425--$18,425
Payroll Taxes$12,430--$12,430
Other Expenses$9,637--$9,637
Travel$8,633--$8,633
All Other Expenses$8,457--$8,457
Total Functional Expenses$614,527$12,501$0$627,028

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$627,028
Total Expenses per Audited Statements$627,028
Total Expenses per Form 990$627,028
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
Payroll Taxes Payable$2,236
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
Yes
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

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Members elect the governing body. Decisions made by the governing body are subject to member approval.

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

The organizations process to review the form 990 - the 990 is prepared by a cpa and reviewed by management prior to filing for accuracy and completeness. The board of directors is provided a copy. Members are given a copy upon request.

Form 990, Page 6, Part VI, Line 15A

The general manager's salary is approved by the board. Any changes made to the salary are approved prior to being changed.

Form 990, Page 6, Part VI, Line 19

All records and corporate policies are available to members upon request.

Filing and Contact Details

Filer

Filer Name
Kentuckytown Water Supply
EIN
74-1705672
Phone
9035466179
Address
PO BOX 99, TOM BEAN, TX 75489

Signing Officer

Name
John Griffin
Title
General Manager
Phone
9035466179
Signed
2025-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Earl Chesser
Formed
1975
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Lori Ann Cannon CPA
Address
292 MOUNTAIN CLIMB RD, SHERMAN, TX 75092
Preparer
Lori Ann Cannon
Phone
9038156610
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Provide fresh water to members at the lowest cost possible.

Form 990, Part IX, Line 11G

Other 28,428 0 0 contract labor 40,548 12,501 0 total 68,976 12,501 0

Raw XML Appendix313 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/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01079413
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01079413
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04359591
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IRS990/TravelGrp/ProgramServicesAmt08633
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WebsiteAddressTxt0HTTPS://KENTUCKYTOWNWSC.ORG/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN GRIFFIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum09035466179
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KENTUCKYTOWN WATER SUPPLY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0KENT
ReturnHeader/Filer/EIN0741705672
ReturnHeader/Filer/PhoneNum09035466179
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 99
ReturnHeader/Filer/USAddress/CityNm0TOM BEAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075489
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0474301221
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LORI ANN CANNON CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0292 MOUNTAIN CLIMB RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SHERMAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075092
ReturnHeader/PreparerPersonGrp/PhoneNum09038156610
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LORI ANN CANNON
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-05-01T16:08:50-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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