Civic Intelligence

South Freestone County Water Supply

990 • Fiscal year 2019 • EIN 74-2203615

Oct 01, 2018 to Sep 30, 2019 • Filed on Jul 20, 2020

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

60th percentile

0.34x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

2.12x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Net Margin

79th percentile

20%

Higher net margin than 79% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

66th percentile

$630

Higher top officer pay than 66% of similar nonprofits.

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

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Asset Growth

14th percentile

-3.8%

Faster asset growth than 14% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-26%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$1,749,964

Down $69,287 (-3.8%) from 2018

Net Assets

Up

$1,160,261

Up $55,102 (+5.0%) from 2018

Liabilities

Down

$589,703

Down $124,389 (-17%) from 2018

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin79th percentile

Revenue

Down

$278,122

Down $99,324 (-26%) from 2018

Expenses

Down

$223,020

Down $27,819 (-11%) from 2018

Net Income

Down

$55,102

Down $71,505 (-56%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2019

Assets$1,749,964
Liabilities$589,703
Net Assets$1,160,261
Open 2019 Filing

Operations Trend

Revenue Growth5th 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

2019

Revenue$278,122
Expenses$223,020
Net Income$55,102
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jul 20, 2020
Return Version
2018v3.2
Gross Receipts
$753,485
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
Land, Buildings, and Equipment, Net$648,683$576,987▼ $71,696
Savings and Temporary Cash Investments$1,102,104$456,111▼ $645,993
Inventories for Sale or Use$25,910$28,332▲ $2,422
Cash and Non-Interest-Bearing Accounts$3,976$106▼ $3,870
Total Assets$1,819,251$1,749,964▼ $69,287
Other Assets Total$38,578$688,428▲ $649,850
Liabilities
Mortgage Notes Payable Secured by Investment Property$594,570$470,063▼ $124,507
Other Liabilities$108,075$110,733▲ $2,658
Accounts Payable and Accrued Expenses$11,447$8,907▼ $2,540
Total Liabilities$714,092$589,703▼ $124,389
Net Assets / Fund Balance
Unrestricted Net Assets$1,105,159$1,160,261▲ $55,102
Total Net Assets Fund Balance$1,105,159$1,160,261▲ $55,102
Total Liabilities and Net Assets / Fund Balance$1,819,251$1,749,964▼ $69,287

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$480,399$1,988,738$2,469,137
Equipment$66,362$150,715$217,077
Buildings$15,488$63,874$79,362
Land$14,738-$14,738
Other Assets Org$148,428--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleBaseTotal
Earnest ColbertSec/treas$630$630
Jeff ClarkVice Preside$630$630
Mary Lou WhitakerDirector$630$630
Anita RobinsonDirector$585$585
Douglas Lynn ClaryPresident$585$585
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$13,663
Other Revenue
$264,459
Change in Net Assets
$55,102

Audited Revenue Reconciliation

Revenue per Audited Statements
$278,122
Revenue Not Reported on Form 990
$475,363
Total Revenue per Audited Statements
$753,485
Total Revenue per Form 990
$278,122
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$139,899
Salaries, Compensation, and Employee Benefits$83,121
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Employee Benefits---$48,807
Interest---$25,730
Payroll Taxes---$21,542
Insurance---$15,357
Pension Plan Contributions---$12,772
Fees for Services Accounting---$8,945
All Other Expenses---$8,167
Other Expenses---$7,636
Conferences and Meetings---$1,888
Total Functional Expenses$0$0$0$223,020

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$698,383
Expenses Not Reported on Form 990$475,363
Expenses per Audited Statements$223,020
Total Expenses per Form 990$223,020
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$109,850
Volunteer Fire Department Deposits$883
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
2020-07-20
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
8

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 475,363 cost of goods sold -475,363”

Financial Statement Notes

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

“Cost of goods sold 475,363”

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

“Cost of goods sold 475,363”

Raw XML Appendix334 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/ExplanationTxt1COST OF GOODS SOLD 475,363
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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 475,363 COST OF GOODS SOLD -475,363
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
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01819251
IRS990/TotalAssetsEOYAmt01749964
IRS990/TotalAssetsGrp/BOYAmt01819251
IRS990/TotalAssetsGrp/EOYAmt01749964
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0223020
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0714092
IRS990/TotalLiabilitiesEOYAmt0589703
IRS990/TotalLiabilitiesGrp/BOYAmt0714092
IRS990/TotalLiabilitiesGrp/EOYAmt0589703
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01105159
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01160261
IRS990/TotalReportableCompFromOrgAmt03060
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0278122
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0278122
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01819251
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01749964
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01105159
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01160261
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/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUGLAS LYNN CLARY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09033895952
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-20
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F897679B42CDD68D39348025DE557489BB4DD942
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId065AA4C8F66FB2B06083A0F713BD4C1D2DC98FE38
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.162.101.163
ReturnHeader/FilingSecurityInformation/IPDt02020-07-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:55:20
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/PreparationDt02020-07-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JASON D REINKE
ReturnHeader/ReturnTs02020-07-20T10:55:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-10-01
ReturnHeader/TaxPeriodEndDt02019-09-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,749,964
Liabilities
$589,703
Net assets
$1,160,261
Revenue
$278,122
Expenses
$223,020
Net income
$55,102
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
2019Detailed filing. Detailed filing data is available for this year.$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
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
Peer Organizations

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