Civic Intelligence

Payne Springs Water Supply Corporation

990 • Fiscal year 2022 • EIN 75-1367969

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 17, 2023

Organization Profile
9690 State Highway 198Mabank, TX 75156

(903) 451-5300

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.55x

Higher debt load relative to assets than 82% of similar nonprofits.

2022 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

74th percentile

2.19x

Higher debt load relative to revenue than 74% of similar nonprofits.

2022 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2022

Net Margin

70th percentile

16%

Higher net margin than 70% of similar nonprofits.

2022 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

66th percentile

$0

Higher top officer pay than 66% of similar nonprofits.

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

2022 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2022

Asset Growth

59th percentile

2.2%

Faster asset growth than 59% of similar nonprofits.

2022 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

27th percentile

-0.9%

Faster revenue growth than 27% of similar nonprofits.

2022 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$1,743,591

Up $37,963 (+2.2%) from 2021

Net Assets

Up

$792,236

Up $71,003 (+9.8%) from 2021

Liabilities

Down

$951,355

Down $33,040 (-3.4%) from 2021

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin70th percentile

Revenue

Down

$435,116

Down $4,149 (-0.9%) from 2021

Expenses

Down

$364,113

Down $88,566 (-20%) from 2021

Net Income

Up

$71,003

Up $84,417 (+629%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,481,254Liabilities 2010: $605,615Net Assets 2010: $875,6392010Assets 2011: $1,478,619Liabilities 2011: $597,570Net Assets 2011: $881,0492011Assets 2012: $1,462,389Liabilities 2012: $589,109Net Assets 2012: $873,2802012Assets 2013: $1,471,599Liabilities 2013: $580,868Net Assets 2013: $890,7312013Assets 2014: $1,471,139Liabilities 2014: $573,439Net Assets 2014: $897,7002014Assets 2015: $1,441,262Liabilities 2015: $571,560Net Assets 2015: $869,7022015Assets 2016: $1,408,337Liabilities 2016: $551,861Net Assets 2016: $856,4762016Assets 2017: $1,379,898Liabilities 2017: $543,628Net Assets 2017: $836,2702017Assets 2018: $1,334,687Liabilities 2018: $529,293Net Assets 2018: $805,3942018Assets 2019: $1,257,522Liabilities 2019: $517,477Net Assets 2019: $740,0452019Assets 2020: $1,584,760Liabilities 2020: $850,113Net Assets 2020: $734,6472020Assets 2021: $1,705,628Liabilities 2021: $984,395Net Assets 2021: $721,2332021Assets 2022: $1,743,591Liabilities 2022: $951,355Net Assets 2022: $792,2362022Assets 2023: $1,894,362Liabilities 2023: $917,921Net Assets 2023: $976,4412023Assets 2024: $2,052,411Liabilities 2024: $880,959Net Assets 2024: $1,171,4522024

Highlighted filing

2022

Assets$1,743,591
Liabilities$951,355
Net Assets$792,236
Open 2022 Filing

Operations Trend

Revenue Growth27th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $271,7892010Expenses 2011: $271,6622011Expenses 2012: $281,6552012Revenue 2013: $274,529Expenses 2013: $257,778Net Income 2013: $16,7512013Revenue 2014: $268,161Expenses 2014: $262,277Net Income 2014: $5,8842014Revenue 2015: $249,544Expenses 2015: $277,827Net Income 2015: -$28,2832015Revenue 2016: $274,954Expenses 2016: $288,180Net Income 2016: -$13,2262016Revenue 2017: $269,084Expenses 2017: $289,290Net Income 2017: -$20,2062017Revenue 2018: $290,823Expenses 2018: $321,699Net Income 2018: -$30,8762018Revenue 2019: $324,725Expenses 2019: $390,074Net Income 2019: -$65,3492019Revenue 2020: $378,170Expenses 2020: $383,568Net Income 2020: -$5,3982020Revenue 2021: $439,265Expenses 2021: $452,679Net Income 2021: -$13,4142021Revenue 2022: $435,116Expenses 2022: $364,113Net Income 2022: $71,0032022Revenue 2023: $541,224Expenses 2023: $357,019Net Income 2023: $184,2052023Revenue 2024: $588,261Expenses 2024: $393,250Net Income 2024: $195,0112024

Highlighted filing

2022

Revenue$435,116
Expenses$364,113
Net Income$71,003
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 17, 2023
Return Version
2022v5.0
Gross Receipts
$435,116
Mission and Program Overview

Mission

The organization provides water to rural residents of the payne springs community.

To provide potable water to rural residents of the payne springs community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,264,252$1,220,587▼ $43,665
Rtn Earn Endowment Incm Other Fnds$721,233$792,236▲ $71,003
Cash and Non-Interest-Bearing Accounts$328,045$412,647▲ $84,602
Savings and Temporary Cash Investments$81,113$81,168▲ $55
Accounts Receivable$32,218$29,189▼ $3,029
Total Assets$1,705,628$1,743,591▲ $37,963
Liabilities
Unsecured Notes Loans Payable$983,340$950,153▼ $33,187
Accounts Payable and Accrued Expenses$1,055$1,202▲ $147
Total Liabilities$984,395$951,355▼ $33,040
Net Assets / Fund Balance
Total Net Assets Fund Balance$721,233$792,236▲ $71,003
Total Liabilities and Net Assets / Fund Balance$1,705,628$1,743,591▲ $37,963

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,198,987$783,276$1,982,263
Land$21,600-$21,600
Compensation and Service Providers
Top Officer Pay66th percentile

Board Members and Trustees

NameTitle
Carl PowellPresident
Dan ReynoldsDirector
Roland CarsonDirector
Rod WhiddonSecretary/tr
Harry RiddleVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$432,195
Investment Income
$55
Other Revenue
$2,866
Change in Net Assets
$71,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$248,211
Salaries, Compensation, and Employee Benefits$115,902
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$107,141
Fees for Services Other---$104,393
Depreciation Depletion---$43,665
Interest---$38,204
Occupancy---$22,729
Insurance---$16,256
Office Expenses---$9,714
Payroll Taxes---$8,761
Fees for Services Legal---$7,646
Conferences and Meetings---$754
Other Expenses---$150
Total Functional Expenses$0$0$0$364,113
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
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
No
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“YES”

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

“YES”

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

“YES”

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

“The board is provided a copy of the federal tax return for review and approval before being filed.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Payne Springs Water
EIN
75-1367969
Phone
9034515300
Address
9690 STATE HIGHWAY 198, MABANK, TX 75156
Doing Business As
Payne Springs Water Supply Corp

Signing Officer

Name
Rod Whiddon
Title
Secretary/treasurer
Phone
9034515300
Signed
2023-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carl Powell
Formed
1970
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
4

Preparer

Firm
Parker & Richardson Pc
Address
500 E BROAD ST, MANSFIELD, TX 76063
Preparer
Bryant Kelley CPA
Phone
9036755675
Supplemental Narrative

Additional Explanations

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

“To provide rural water services to the residents of the payne springs comminuty.”

Form 990, Part IX, Line 11G

“Bank fees 1,382 0 0 tceq fees 2,896 0 0 plant & field expenses 10,915 0 0 field supplies 14,463 0 0 chemicals 9,955 0 0 repairs & maintenance 38,998 0 0 contract labor 1,133 0 0 reimbursed expenses 1,587 0 0 reimbursed mileage 2,644 0 0 dues &subscriptions 463 0 0 equipment repairs 8,797 0 0 cost of goods sold 11,160 0 0 total 104,393 0 0”

Raw XML Appendix291 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD IS PROVIDED A COPY OF THE FEDERAL TAX RETURN FOR REVIEW AND APPROVAL BEFORE BEING FILED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BANK FEES 1,382 0 0 TCEQ FEES 2,896 0 0 PLANT & FIELD EXPENSES 10,915 0 0 FIELD SUPPLIES 14,463 0 0 CHEMICALS 9,955 0 0 REPAIRS & MAINTENANCE 38,998 0 0 CONTRACT LABOR 1,133 0 0 REIMBURSED EXPENSES 1,587 0 0 REIMBURSED MILEAGE 2,644 0 0 DUES &SUBSCRIPTIONS 463 0 0 EQUIPMENT REPAIRS 8,797 0 0 COST OF GOODS SOLD 11,160 0 0 TOTAL 104,393 0 0
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PAYNE SPRINGS WATER
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SUPPLY CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PAYN
ReturnHeader/Filer/EIN0751367969
ReturnHeader/Filer/PhoneNum09034515300
ReturnHeader/Filer/USAddress/AddressLine1Txt09690 STATE HIGHWAY 198
ReturnHeader/Filer/USAddress/CityNm0MABANK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075156
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201607616
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PARKER & RICHARDSON PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0500 E BROAD ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MANSFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076063
ReturnHeader/PreparerPersonGrp/PhoneNum09036755675
ReturnHeader/PreparerPersonGrp/PreparationDt02023-07-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRYANT KELLEY CPA
ReturnHeader/ReturnTs02023-07-19T17:14:22-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ROD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WHIDDON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,743,591
Liabilities
$951,355
Net assets
$792,236
Revenue
$435,116
Expenses
$364,113
Net income
$71,003
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.88$1.17$0.59$0.39$0.20
2023Detailed filing. Detailed filing data is available for this year.$1.89$0.92$0.98$0.54$0.36$0.18
2022Detailed filing. Detailed filing data is available for this year.$1.74$0.95$0.79$0.44$0.36$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.71$0.98$0.72$0.44$0.45$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.58$0.85$0.73$0.38$0.38$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.26$0.52$0.74$0.32$0.39$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.33$0.53$0.81$0.29$0.32$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.38$0.54$0.84$0.27$0.29$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.41$0.55$0.86$0.27$0.29$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.44$0.57$0.87$0.25$0.28$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.47$0.57$0.90$0.27$0.26$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.47$0.58$0.89$0.27$0.26$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.59$0.87$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.60$0.88$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.61$0.88$0.27