Civic Intelligence

Timpson Rural Water Supply

EIN 75-1249647 • 501(c)12 • Timpson, TX

Profile

To provide clean, suitable water to rural residents of the timpson, tx area.

PO Box 839Timpson, TX 75975

n/A

Siviq Scores

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

Liabilities / Assets

46th percentile

0.03x

Higher debt load relative to assets than 46% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

45th percentile

0.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Net Margin

19th percentile

-18%

Higher net margin than 19% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

501(c)12 • $500k-$1M nonprofits • Source year 2024

Asset Growth

17th percentile

-6.4%

Faster asset growth than 17% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-9.9%

Faster revenue growth than 18% of similar nonprofits.

501(c)12 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$704,547

Down $47,897 (-6.4%) from 2023

Liabilities

Up

$23,009

Up $75 (+0.3%) from 2023

Net Assets

Down

$681,538

Down $47,972 (-6.6%) from 2023

Operations
Liabilities / Revenue45th percentileNet Margin19th percentile

Revenue

Down

$344,800

Down $37,728 (-9.9%) from 2023

Expenses

Up

$405,233

Up $44,175 (+12%) from 2023

Net Income

Down

-$60,433

Down $81,903 (-381%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth17th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0Assets 2010: $673,889Liabilities 2010: $0Net Assets 2010: $673,8892010Assets 2011: $695,546Liabilities 2011: $0Net Assets 2011: $695,5462011Assets 2012: $843,136Liabilities 2012: $0Net Assets 2012: $843,1362012Assets 2013: $753,262Liabilities 2013: $0Net Assets 2013: $753,2622013Assets 2014: $710,113Liabilities 2014: $0Net Assets 2014: $710,1132014Assets 2015: $662,543Liabilities 2015: $1,775Net Assets 2015: $660,7682015Assets 2016: $664,021Liabilities 2016: $99Net Assets 2016: $663,9222016Assets 2017: $669,958Liabilities 2017: $2,585Net Assets 2017: $667,3732017Assets 2018: $675,057Liabilities 2018: $5,562Net Assets 2018: $669,4952018Assets 2019: $702,785Liabilities 2019: $9,830Net Assets 2019: $692,9552019Assets 2020: $708,747Liabilities 2020: $2,578Net Assets 2020: $706,1692020Assets 2021: $718,102Liabilities 2021: $23,882Net Assets 2021: $694,2202021Assets 2022: $705,892Liabilities 2022: $23,034Net Assets 2022: $682,8582022Assets 2023: $752,444Liabilities 2023: $22,934Net Assets 2023: $729,5102023Assets 2024: $704,547Liabilities 2024: $23,009Net Assets 2024: $681,5382024

Highlighted filing

2024

Assets$704,547
Liabilities$23,009
Net Assets$681,538
Open 2024 Filing

Operations Trend

Revenue Growth18th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $239,3552010Expenses 2011: $270,6512011Expenses 2012: $271,7612012Revenue 2013: $253,412Expenses 2013: $343,286Net Income 2013: -$89,8742013Revenue 2014: $228,881Expenses 2014: $272,030Net Income 2014: -$43,1492014Revenue 2015: $261,118Expenses 2015: $265,829Net Income 2015: -$4,7112015Revenue 2016: $280,829Expenses 2016: $285,040Net Income 2016: -$4,2112016Revenue 2017: $325,163Expenses 2017: $306,021Net Income 2017: $19,1422017Revenue 2018: $332,988Expenses 2018: $312,435Net Income 2018: $20,5532018Revenue 2019: $331,333Expenses 2019: $320,962Net Income 2019: $10,3712019Revenue 2020: $310,192Expenses 2020: $325,787Net Income 2020: -$15,5952020Revenue 2021: $328,457Expenses 2021: $325,548Net Income 2021: $2,9092021Revenue 2022: $343,559Expenses 2022: $351,191Net Income 2022: -$7,6322022Revenue 2023: $382,528Expenses 2023: $361,058Net Income 2023: $21,4702023Revenue 2024: $344,800Expenses 2024: $405,233Net Income 2024: -$60,4332024

Highlighted filing

2024

Revenue$344,800
Expenses$405,233
Net Income-$60,433
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$704,547
Liabilities
$23,009
Net assets
$681,538
Revenue
$344,800
Expenses
$405,233
Net income
-$60,433
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.05$0.23$6.82$3.45$4.05$0.60
2023Detailed filing. Detailed filing data is available for this year.$7.52$0.23$7.30$3.83$3.61$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.06$0.23$6.83$3.44$3.51$0.08
2021Detailed filing. Detailed filing data is available for this year.$7.18$0.24$6.94$3.28$3.26$0.03
2020Detailed filing. Detailed filing data is available for this year.$7.09$0.03$7.06$3.10$3.26$0.16
2019Detailed filing. Detailed filing data is available for this year.$7.03$0.10$6.93$3.31$3.21$0.10
2018Detailed filing. Detailed filing data is available for this year.$6.75$0.06$6.69$3.33$3.12$0.21
2017Detailed filing. Detailed filing data is available for this year.$6.70$0.03$6.67$3.25$3.06$0.19
2016Detailed filing. Detailed filing data is available for this year.$6.64$0.00$6.64$2.81$2.85$0.04
2015Detailed filing. Detailed filing data is available for this year.$6.63$0.02$6.61$2.61$2.66$0.05
2014Detailed filing. Detailed filing data is available for this year.$7.10$0.00$7.10$2.29$2.72$0.43
2013Detailed filing. Detailed filing data is available for this year.$7.53$0.00$7.53$2.53$3.43$0.90
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.43$0.00$8.43$2.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.96$0.00$6.96$2.71
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.74$0.00$6.74$2.39
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.0
Gross Receipts
$344,800
Mission and Program Overview

Mission

To provide clean, suitable water to rural residents of the timpson, tx area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$729,510$681,538▼ $47,972
Land, Buildings, and Equipment, Net$332,668$304,529▼ $28,139
Investments in Publicly Traded Securities$252,689$265,150▲ $12,461
Cash and Non-Interest-Bearing Accounts$103,887$69,379▼ $34,508
Savings and Temporary Cash Investments$63,200$65,489▲ $2,289
Total Assets$752,444$704,547▼ $47,897
Liabilities
Other Liabilities$22,934$23,009▲ $75
Total Liabilities$22,934$23,009▲ $75
Net Assets / Fund Balance
Total Net Assets Fund Balance$729,510$681,538▼ $47,972
Total Liabilities and Net Assets / Fund Balance$752,444$704,547▼ $47,897

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$279,796$796,644$1,076,440
Equipment$7,522$162,958$170,480
Other Land Buildings$9,451$950$10,401
Land$7,760-$7,760
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Mike ThriftPresident
Brad FitzgeraldDirector
John ChildsDirector
Ray LloydDirector
Vernet RichardsonDirector
Billy CarringtonSecretary
Rusty CookVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$342,426
Investment Income
$2,374
Other Revenue
$0
Change in Net Assets
$-60,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$234,148
Salaries, Compensation, and Employee Benefits$171,085
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$150,525--$150,525
Depreciation Depletion$32,809--$32,809
Insurance$29,143--$29,143
All Other Expenses$26,535$1,399-$27,934
Other Expenses$12,557$6,321-$12,557
Payroll Taxes$11,700--$11,700
Fees for Services Accounting-$9,425-$9,425
Other Employee Benefits$8,860--$8,860
Office Expenses-$7,890-$7,890
Fees for Services Other$1,600--$1,600
Total Functional Expenses$380,198$25,035$0$405,233
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Billy AskinsKey EmployeeRelated BusinessNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Membership Deposits Held$23,009
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
Management duties delegated
No

Governance Explanations

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

“Reviewed by the entity's president along with the cpa that prepared the return.”

Form 990, Page 6, Part VI, Line 19

“All information is available at public office upon request.”

Filing and Contact Details

Filer

Filer Name
Timpson Rural Water Supply
EIN
75-1249647
Phone
9362542108
Address
PO BOX 839, TIMPSON, TX 75975

Signing Officer

Name
Billy Askins
Title
Operator
Phone
9362542108
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Thrift
Formed
1965
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
4

Preparer

Firm
Redfield Miller & White Llp
Address
1116 N UNIVERSITY DR, NACOGDOCHES, TX 75961
Preparer
Nathan K Miller CPA
Phone
9365648186
Supplemental Narrative

Additional Explanations

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

“Provide clean, suitable water to rural residents of the timpson, tx area”

Raw XML Appendix321 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.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum09362542108
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/PersonNm0MIKE THRIFT
IRS990/Form990PartVIISectionAGrp/PersonNm1BILLY CARRINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm2BRAD FITZGERALD
IRS990/Form990PartVIISectionAGrp/PersonNm3RUSTY COOK
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IRS990/Form990PartVIISectionAGrp/PersonNm5RAY LLOYD
IRS990/Form990PartVIISectionAGrp/PersonNm6VERNET RICHARDSON
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0BILLY ASKINS, KEY EMPLOYEE AND OPERATOR, OWNS A PLUMBING BUSINESS WHICH PROVIDES SERVICES TO TIMPSON RURAL WATER SUPPLY CORP.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE CLEAN, SUITABLE WATER TO RURAL RESIDENTS OF THE TIMPSON, TX AREA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED BY THE ENTITY'S PRESIDENT ALONG WITH THE CPA THAT PREPARED THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL INFORMATION IS AVAILABLE AT PUBLIC OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0752444
IRS990/TotalAssetsEOYAmt0704547
IRS990/TotalAssetsGrp/BOYAmt0752444
IRS990/TotalAssetsGrp/EOYAmt0704547
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt025035
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0380198
IRS990/TotalFunctionalExpensesGrp/TotalAmt0405233
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022934
IRS990/TotalLiabilitiesEOYAmt023009
IRS990/TotalLiabilitiesGrp/BOYAmt022934
IRS990/TotalLiabilitiesGrp/EOYAmt023009
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0729510
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0681538
IRS990/TotalProgramServiceRevenueAmt0342426
IRS990/TotalRevenueGrp/ExclusionAmt02374
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0342426
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0344800
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0752444
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0704547
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O BOX 865
IRS990/USAddress/CityNm0TIMPSON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075975
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BILLY ASKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OPERATOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09362542108
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TIMPSON RURAL WATER SUPPLY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0TIMP
ReturnHeader/Filer/EIN0751249647
ReturnHeader/Filer/PhoneNum09362542108
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 839
ReturnHeader/Filer/USAddress/CityNm0TIMPSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075975
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0752966974
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0REDFIELD MILLER & WHITE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01116 N UNIVERSITY DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NACOGDOCHES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075961
ReturnHeader/PreparerPersonGrp/PhoneNum09365648186
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NATHAN K MILLER CPA
ReturnHeader/ReturnTs02025-11-13T16:23:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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