Civic Intelligence

South Freestone County Water Supply

990 • Fiscal year 2018 • EIN 74-2203615

Oct 01, 2017 to Sep 30, 2018 • Filed on Mar 15, 2019

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

65th percentile

0.39x

Higher debt load relative to assets than 65% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

63rd percentile

1.89x

Higher debt load relative to revenue than 63% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Net Margin

90th percentile

34%

Higher net margin than 90% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

66th percentile

$675

Higher top officer pay than 66% of similar nonprofits.

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

2018 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2018

Asset Growth

79th percentile

5.6%

Faster asset growth than 79% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

77th percentile

12%

Faster revenue growth than 77% of similar nonprofits.

2018 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$1,819,251

Up $96,174 (+5.6%) from 2017

Net Assets

Up

$1,105,159

Up $126,607 (+13%) from 2017

Liabilities

Down

$714,092

Down $30,433 (-4.1%) from 2017

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin90th percentile

Revenue

Up

$377,446

Up $40,236 (+12%) from 2017

Expenses

Up

$250,839

Up $28,473 (+13%) from 2017

Net Income

Up

$126,607

Up $11,763 (+10%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth79th 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

2018

Assets$1,819,251
Liabilities$714,092
Net Assets$1,105,159
Open 2018 Filing

Operations Trend

Revenue Growth77th 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

2018

Revenue$377,446
Expenses$250,839
Net Income$126,607
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Mar 15, 2019
Return Version
2017v2.3
Gross Receipts
$837,662
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$1,083,152$1,102,104▲ $18,952
Land, Buildings, and Equipment, Net$571,400$648,683▲ $77,283
Inventories for Sale or Use$25,910$25,910→ $0
Cash and Non-Interest-Bearing Accounts$4,037$3,976▼ $61
Total Assets$1,723,077$1,819,251▲ $96,174
Other Assets Total$38,578$38,578→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$625,230$594,570▼ $30,660
Other Liabilities$107,500$108,075▲ $575
Accounts Payable and Accrued Expenses$11,795$11,447▼ $348
Total Liabilities$744,525$714,092▼ $30,433
Net Assets / Fund Balance
Unrestricted Net Assets$978,552$1,105,159▲ $126,607
Total Net Assets Fund Balance$978,552$1,105,159▲ $126,607
Total Liabilities and Net Assets / Fund Balance$1,723,077$1,819,251▲ $96,174

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$569,581$1,894,555$2,464,136
Equipment$47,033$133,502$180,535
Buildings$17,331$62,032$79,363
Land$14,738-$14,738
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleBaseTotal
Douglas Lynn ClaryPresident$675$675
Mary Lou WhitakerDirector$675$675
Anita RobinsonDirector$585$585
Earnest ColbertSec/treas$405$405
Jeff ClarkVice Preside$405$405
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$5,220
Other Revenue
$372,226
Change in Net Assets
$126,607

Audited Revenue Reconciliation

Revenue per Audited Statements
$377,446
Revenue Not Reported on Form 990
$460,216
Total Revenue per Audited Statements
$837,662
Total Revenue per Form 990
$377,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$159,590
Salaries, Compensation, and Employee Benefits$91,249
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Employee Benefits---$60,938
Interest---$30,577
Payroll Taxes---$20,617
Insurance---$16,124
All Other Expenses---$14,356
Pension Plan Contributions---$9,694
Fees for Services Accounting---$9,536
Other Expenses---$7,570
Conferences and Meetings---$3,215
Total Functional Expenses$0$0$0$250,839

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$711,055
Expenses Not Reported on Form 990$460,216
Expenses per Audited Statements$250,839
Total Expenses per Form 990$250,839
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$107,253
Volunteer Fire Department Deposits$822
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
2019-03-15
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
7

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 460,216 cost of goods sold -460,216”

Financial Statement Notes

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

“Cost of goods sold 460,216”

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

“Cost of goods sold 460,216”

Raw XML Appendix330 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/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COST OF GOODS SOLD 460,216
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD 460,216
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 460,216 COST OF GOODS SOLD -460,216
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01723077
IRS990/TotalAssetsEOYAmt01819251
IRS990/TotalAssetsGrp/BOYAmt01723077
IRS990/TotalAssetsGrp/EOYAmt01819251
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0250839
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0744525
IRS990/TotalLiabilitiesEOYAmt0714092
IRS990/TotalLiabilitiesGrp/BOYAmt0744525
IRS990/TotalLiabilitiesGrp/EOYAmt0714092
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0978552
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01105159
IRS990/TotalReportableCompFromOrgAmt02745
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0377446
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0377446
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01723077
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01819251
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0978552
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01105159
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 208
IRS990/USAddress/CityNm0TEAGUE
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075860
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.SOUTHFREESTONEWATER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUGLAS LYNN CLARY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09033895952
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH FREESTONE COUNTY WATER SUPPLY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0742203615
ReturnHeader/Filer/PhoneNum09033895952
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 208
ReturnHeader/Filer/USAddress/CityNm0TEAGUE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075860
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId061BA5BFB80903645E052E7AF9331F43B09034881
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId065AA4C8F66FB2B06083A0F713BD4C1D2DC98FE38
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.178.135.250
ReturnHeader/FilingSecurityInformation/IPDt02019-03-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:32:42
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0814492811
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TRAPLENA SULLIVAN & REINKE PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04216 FRANKLIN AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0767106944
ReturnHeader/PreparerPersonGrp/PhoneNum02547511133
ReturnHeader/PreparerPersonGrp/PreparationDt02019-03-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JASON D REINKE
ReturnHeader/ReturnTs02019-03-15T09:32:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,819,251
Liabilities
$714,092
Net assets
$1,105,159
Revenue
$377,446
Expenses
$250,839
Net income
$126,607
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
2018Detailed filing. Detailed filing data is available for this year.$1.82$0.71$1.11$0.38$0.25$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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