Civic Intelligence

South Freestone County Water Supply

990 • Fiscal year 2017 • EIN 74-2203615

Oct 01, 2016 to Sep 30, 2017 • Filed on May 17, 2018

Organization ProfileWWW.SOUTHFREESTONEWATER.COM
PO Box 208Teague, TX 75860

(903) 389-5952

Siviq Scores

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

Liabilities / Assets

68th percentile

0.43x

Higher debt load relative to assets than 68% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

67th percentile

2.21x

Higher debt load relative to revenue than 67% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Net Margin

93rd percentile

34%

Higher net margin than 93% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

64th percentile

$585

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2017

Asset Growth

82nd percentile

5.7%

Faster asset growth than 82% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

92nd percentile

28%

Faster revenue growth than 92% of similar nonprofits.

2017 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,723,077

Up $92,733 (+5.7%) from 2016

Net Assets

Up

$978,552

Up $114,844 (+13%) from 2016

Liabilities

Down

$744,525

Down $22,111 (-2.9%) from 2016

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin93rd percentile

Revenue

Up

$337,210

Up $72,732 (+28%) from 2016

Expenses

Down

$222,366

Down $835 (-0.4%) from 2016

Net Income

Up

$114,844

Up $73,567 (+178%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,426,596Liabilities 2011: $883,232Net Assets 2011: $543,3642011Assets 2012: $1,496,124Liabilities 2012: $862,046Net Assets 2012: $634,0782012Assets 2013: $1,516,578Liabilities 2013: $844,051Net Assets 2013: $672,5272013Assets 2014: $1,594,992Liabilities 2014: $818,195Net Assets 2014: $776,7972014Assets 2015: $1,619,971Liabilities 2015: $797,540Net Assets 2015: $822,4312015Assets 2016: $1,630,344Liabilities 2016: $766,636Net Assets 2016: $863,7082016Assets 2017: $1,723,077Liabilities 2017: $744,525Net Assets 2017: $978,5522017Assets 2018: $1,819,251Liabilities 2018: $714,092Net Assets 2018: $1,105,1592018Assets 2019: $1,749,964Liabilities 2019: $589,703Net Assets 2019: $1,160,2612019Assets 2020: $1,844,702Liabilities 2020: $578,641Net Assets 2020: $1,266,0612020Assets 2021: $1,857,621Liabilities 2021: $569,214Net Assets 2021: $1,288,4072021Assets 2022: $1,988,590Liabilities 2022: $561,059Net Assets 2022: $1,427,5312022Assets 2023: $2,232,085Liabilities 2023: $606,458Net Assets 2023: $1,625,6272023Assets 2024: $2,451,714Liabilities 2024: $591,327Net Assets 2024: $1,860,3872024

Highlighted filing

2017

Assets$1,723,077
Liabilities$744,525
Net Assets$978,552
Open 2017 Filing

Operations Trend

Revenue Growth92nd percentile

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

$800K$600K$400K$200K$0Expenses 2011: $227,5592011Expenses 2012: $212,7002012Expenses 2013: $236,0592013Revenue 2014: $330,803Expenses 2014: $226,533Net Income 2014: $104,2702014Revenue 2015: $289,999Expenses 2015: $244,365Net Income 2015: $45,6342015Revenue 2016: $264,478Expenses 2016: $223,201Net Income 2016: $41,2772016Revenue 2017: $337,210Expenses 2017: $222,366Net Income 2017: $114,8442017Revenue 2018: $377,446Expenses 2018: $250,839Net Income 2018: $126,6072018Revenue 2019: $278,122Expenses 2019: $223,020Net Income 2019: $55,1022019Revenue 2020: $332,859Expenses 2020: $227,059Net Income 2020: $105,8002020Revenue 2021: $382,152Expenses 2021: $359,806Net Income 2021: $22,3462021Revenue 2022: $572,619Expenses 2022: $433,491Net Income 2022: $139,1282022Revenue 2023: $655,185Expenses 2023: $457,090Net Income 2023: $198,0952023Revenue 2024: $705,994Expenses 2024: $471,236Net Income 2024: $234,7582024

Highlighted filing

2017

Revenue$337,210
Expenses$222,366
Net Income$114,844
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
May 17, 2018
Return Version
2016v3.1
Gross Receipts
$769,049
Mission and Program Overview

Mission

The corporation's primary exempt purpose is to furnish water to all members of the south freestone county water supply corporation water system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$999,623$1,083,152▲ $83,529
Land, Buildings, and Equipment, Net$563,401$571,400▲ $7,999
Inventories for Sale or Use$24,478$25,910▲ $1,432
Cash and Non-Interest-Bearing Accounts$4,264$4,037▼ $227
Total Assets$1,630,344$1,723,077▲ $92,733
Other Assets Total$38,578$38,578→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$654,280$625,230▼ $29,050
Other Liabilities$106,065$107,500▲ $1,435
Accounts Payable and Accrued Expenses$6,291$11,795▲ $5,504
Total Liabilities$766,636$744,525▼ $22,111
Net Assets / Fund Balance
Unrestricted Net Assets$863,708$978,552▲ $114,844
Total Net Assets Fund Balance$863,708$978,552▲ $114,844
Total Liabilities and Net Assets / Fund Balance$1,630,344$1,723,077▲ $92,733

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$528,862$1,800,699$2,329,561
Equipment$20,460$162,123$182,583
Buildings$7,340$60,572$67,912
Land$14,738-$14,738
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleBaseTotal
Anita RobinsonSec/treas$585$585
Mary Lou WhitakerV-president$585$585
Wr RoaneDirector$585$585
Douglas Lynn ClaryPresident$495$495
E W AllenDirector$135$135
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$4,181
Other Revenue
$333,029
Change in Net Assets
$114,844

Audited Revenue Reconciliation

Revenue per Audited Statements
$337,210
Revenue Not Reported on Form 990
$431,839
Total Revenue per Audited Statements
$769,049
Total Revenue per Form 990
$337,210
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$146,178
Salaries, Compensation, and Employee Benefits$76,188
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Employee Benefits---$47,111
Interest---$32,186
All Other Expenses---$18,295
Payroll Taxes---$18,255
Insurance---$16,769
Pension Plan Contributions---$10,822
Other Expenses---$9,802
Fees for Services Accounting---$7,595
Conferences and Meetings---$2,399
Total Functional Expenses$0$0$0$222,366

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$654,205
Expenses Not Reported on Form 990$431,839
Expenses per Audited Statements$222,366
Total Expenses per Form 990$222,366
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
Refundable Deposits$105,814
Volunteer Fire Department Deposits$1,686
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
Yes
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
Yes
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 of the customers of the company are members.”

Form 990, Page 6, Part VI, Line 7A

“The governing board is elected by the general membership of the organization. The elections are held at the annual meeting. Board members serve on rotating terms so that not all board members are elected each year.”

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

“Each director is given a copy of form 990 during a regular business meeting. The directors review the form, discuss any questions and approve it for filing.”

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

“The board of directors reviews and approves compensation for all employees.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to the public upon request. Financial statements are distributed to the members at the annual meeting.”

Filing and Contact Details

Filer

Filer Name
South Freestone County Water Supply
EIN
74-2203615
Phone
9033895952
Address
PO BOX 208, TEAGUE, TX 75860

Signing Officer

Name
Douglas Lynn Clary
Title
President
Phone
9033895952
Signed
2018-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Lynn Clary
Formed
1970
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
5

Preparer

Firm
Traplena Sullivan & Reinke Pc
Address
4216 FRANKLIN AVE, WACO, TX 76710-6944
Preparer
Jason D Reinke
Phone
2547511133
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Cost of goods sold 431,839 cost of goods sold -431,839”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Cost of goods sold 431,839”

Schedule D, Page 4, Part XII, Line 2D

“Cost of goods sold 431,839”

Raw XML Appendix317 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/SupplementalInformationDetail/ExplanationTxt0COST OF GOODS SOLD 431,839
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD 431,839
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL OF THE CUSTOMERS OF THE COMPANY ARE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BOARD IS ELECTED BY THE GENERAL MEMBERSHIP OF THE ORGANIZATION. THE ELECTIONS ARE HELD AT THE ANNUAL MEETING. BOARD MEMBERS SERVE ON ROTATING TERMS SO THAT NOT ALL BOARD MEMBERS ARE ELECTED EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DIRECTOR IS GIVEN A COPY OF FORM 990 DURING A REGULAR BUSINESS MEETING. THE DIRECTORS REVIEW THE FORM, DISCUSS ANY QUESTIONS AND APPROVE IT FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE DISTRIBUTED TO THE MEMBERS AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COST OF GOODS SOLD 431,839 COST OF GOODS SOLD -431,839
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt05
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH FREESTONE COUNTY WATER SUPPLY
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JASON D REINKE
ReturnHeader/ReturnTs02018-05-17T12:58:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-10-01
ReturnHeader/TaxPeriodEndDt02017-09-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,723,077
Liabilities
$744,525
Net assets
$978,552
Revenue
$337,210
Expenses
$222,366
Net income
$114,844
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.45$0.59$1.86$0.71$0.47$0.23
2023Summary only. Only limited summary data is available for this year.$2.23$0.61$1.63$0.66$0.46$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.99$0.56$1.43$0.57$0.43$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.86$0.57$1.29$0.38$0.36$0.02
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$0.58$1.27$0.33$0.23$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.59$1.16$0.28$0.22$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$0.71$1.11$0.38$0.25$0.13
2017Detailed filing. Detailed filing data is available for this year.$1.72$0.74$0.98$0.34$0.22$0.11
2016Summary only. Only limited summary data is available for this year.$1.63$0.77$0.86$0.26$0.22$0.04
2015Summary only. Only limited summary data is available for this year.$1.62$0.80$0.82$0.29$0.24$0.05
2014Summary only. Only limited summary data is available for this year.$1.59$0.82$0.78$0.33$0.23$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.52$0.84$0.67$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.50$0.86$0.63$0.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.88$0.54$0.23