Civic Intelligence

Talty Water Supply Corporation

EIN 75-1942586 • 501(c)12 • Forney, TX

View Organization Page

Profile

Furnish continuous and adequate potable treated water for general use to the members residing in the rural community of Talty and surrounding service areas.

P O Box 701Forney, TX 75126

www.taltywsc.com

Siviq Scores

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

Liabilities / Assets

17th percentile

0.06x

Higher debt load relative to assets than 17% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

21st percentile

0.27x

Higher debt load relative to revenue than 21% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2015

Net Margin

11th percentile

-5.2%

Higher net margin than 11% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

30th percentile

$0

Higher top officer pay than 30% of similar nonprofits.

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

501(c)12 • $10M-$25M nonprofits • Source year 2015

Asset Growth

81st percentile

13%

Faster asset growth than 81% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

84th percentile

31%

Faster revenue growth than 84% of similar nonprofits.

501(c)12 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$11,693,866

Up $1,351,408 (+13%) from 2014

Liabilities

Up

$678,697

Up $288,567 (+74%) from 2014

Net Assets

Up

$11,015,169

Up $1,062,841 (+11%) from 2014

Operations
Liabilities / Revenue21st percentileNet Margin11th percentile

Revenue

Up

$2,509,468

Up $591,883 (+31%) from 2014

Expenses

Up

$2,639,034

Up $278,514 (+12%) from 2014

Net Income

Up

-$129,566

Up $313,369 (+71%) from 2014

Trend Graphs

Balance Sheet Trend

Asset Growth81st percentile

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

$15M$10M$5.0M$0Assets 2011: $10,962,678Liabilities 2011: $483,068Net Assets 2011: $10,479,6102011Assets 2012: $10,820,470Liabilities 2012: $440,413Net Assets 2012: $10,380,0572012Assets 2013: $10,681,592Liabilities 2013: $426,483Net Assets 2013: $10,255,1092013Assets 2014: $10,342,458Liabilities 2014: $390,130Net Assets 2014: $9,952,3282014Assets 2015: $11,693,866Liabilities 2015: $678,697Net Assets 2015: $11,015,1692015

Highlighted filing

2015

Assets$11,693,866
Liabilities$678,697
Net Assets$11,015,169
Open 2015 Filing

Operations Trend

Revenue Growth84th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,358,796Expenses 2011: $1,911,383Net Income 2011: $447,4132011Expenses 2012: $2,063,4292012Revenue 2013: $1,971,203Expenses 2013: $2,167,176Net Income 2013: -$195,9732013Revenue 2014: $1,917,585Expenses 2014: $2,360,520Net Income 2014: -$442,9352014Revenue 2015: $2,509,468Expenses 2015: $2,639,034Net Income 2015: -$129,5662015

Highlighted filing

2015

Revenue$2,509,468
Expenses$2,639,034
Net Income-$129,566
Open 2015 Filing

Filings

Most recent year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,693,866
Liabilities
$678,697
Net assets
$11,015,169
Revenue
$2,509,468
Expenses
$2,639,034
Net income
-$129,566
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$11.7$0.68$11.0$2.51$2.64$0.13
2014Detailed filing. Detailed filing data is available for this year.$10.3$0.39$9.95$1.92$2.36$0.44
2013Detailed filing. Detailed filing data is available for this year.$10.7$0.43$10.3$1.97$2.17$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$0.44$10.4$2.06
2011Summary only. Only limited summary data is available for this year.$11.0$0.48$10.5$2.36$1.91$0.45
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.0
Gross Receipts
$2,509,468
Mission and Program Overview

Mission

Furnish continuous and adequate potable treated water for general use to the members residing in the rural community of Talty and surrounding service areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,997,314$6,467,891▼ $529,423
Savings and Temporary Cash Investments$2,798,959$2,751,477▼ $47,482
Cash and Non-Interest-Bearing Accounts$348,269$348,222▼ $47
Accounts Receivable$117,158$141,175▲ $24,017
Inventories for Sale or Use$70,521$62,166▼ $8,355
Intangible Assets$5,939$5,545▼ $394
Prepaid Expenses and Deferred Charges$2,148$550▼ $1,598
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Total Assets$10,342,458$11,693,866▲ $1,351,408
Other Assets Total$2,150$1,916,840▲ $1,914,690
Liabilities
Mortgage Notes Payable Secured by Investment Property$374,093$511,828▲ $137,735
Deferred Revenue-$125,000-
Accounts Payable and Accrued Expenses$16,037$41,869▲ $25,832
Total Liabilities$390,130$678,697▲ $288,567
Net Assets / Fund Balance
Unrestricted Net Assets$9,952,328$11,015,169▲ $1,062,841
Total Net Assets Fund Balance$9,952,328$11,015,169▲ $1,062,841
Total Liabilities and Net Assets / Fund Balance$10,342,458$11,693,866▲ $1,351,408

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,153,965$5,465,543$11,619,508
Equipment$57,914$338,623$396,537
Buildings$157,719$174,443$332,162
Land$98,293-$98,293
Other Assets Org$1,916,840--
Compensation and Service Providers
Top Officer Pay30th percentile

Board Members and Trustees

NameTitle
John MastervichPresident
Scot BoisvertVice President
Dan TurnerDirector
Sidney SchlebachDirector
Bill HartSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,487,021
Investment Income
$19,247
Other Revenue
$3,200
Change in Net Assets
$-129,566

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,509,468
Total Revenue per Audited Statements
$2,509,468
Total Revenue per Form 990
$2,509,468
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,176,566
Salaries, Compensation, and Employee Benefits$462,468
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$569,015
Other Salaries and Wages---$430,184
Office Expenses---$87,591
Payroll Taxes---$32,284
Insurance---$28,799
Other Expenses---$19,961
All Other Expenses---$19,221
Occupancy---$13,254
Fees for Services Other---$12,852
Fees for Services Legal---$8,906
Fees for Services Accounting---$6,400
Interest---$5,181
Total Functional Expenses$0$0$0$2,639,034

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,639,034
Total Expenses per Audited Statements$2,639,034
Total Expenses per Form 990$2,639,034
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The members consist of real property owners who have requested potable water service”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Once annually the membership elects other members for open positions on the board and a vote of the membership at the annual meeting determines incumbent board members”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“By-laws have been put into place by a majority of the membership allowing the board to make decisions effecting the corporation and its members”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Board members are notified when then form 990 is complete and it is either reviewed at a regularly scheduled board meeting or they are requested to come to the office and review the return prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Prior to placing a member's name on the board member election ballot, they are asked a series of questions based upon the existing conflict of interest policy”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The governing documents, policies, and financial statements of talty water supply corporation are maintained at the organization's offices at 12475 windy lane, forney, tx 75126, and are made available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Talty Water Supply Corporation
EIN
75-1942586
Phone
9725524422
Address
P O BOX 701, FORNEY, TX 75126

Signing Officer

Name
Scot Boisvert
Title
Vice President
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1966
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
11

Preparer

Firm
Murrey Paschall & Caperton PC
Address
301 E BROAD ST, FORNEY, TX 75126-4110
Preparer
Eric E Paschall
Phone
9725641660
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Contributed capital = $549536”

Other Changes In Net Assets Or Fund Balances - Other Increases

“New member contributions = $642871”

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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/RentalIncomeOrLossGrp/RealAmt03200
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02487021
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02798959
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02751477
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0157719
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0174443
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0332162
IRS990ScheduleD/EquipmentGrp/BookValueAmt057914
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0338623
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0396537
IRS990ScheduleD/ExpensesSubtotalAmt02639034
IRS990ScheduleD/LandGrp/BookValueAmt098293
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt098293
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06153965
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt05465543
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt011619508
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01916840
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/RevenueSubtotalAmt02509468
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06467891
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01916840
IRS990ScheduleD/TotalExpensesPerForm990Amt02639034
IRS990ScheduleD/TotalRevenuePerForm990Amt02509468
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02509468
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02639034
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERS CONSIST OF REAL PROPERTY OWNERS WHO HAVE REQUESTED POTABLE WATER SERVICE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ONCE ANNUALLY THE MEMBERSHIP ELECTS OTHER MEMBERS FOR OPEN POSITIONS ON THE BOARD AND A VOTE OF THE MEMBERSHIP AT THE ANNUAL MEETING DETERMINES INCUMBENT BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BY-LAWS HAVE BEEN PUT INTO PLACE BY A MAJORITY OF THE MEMBERSHIP ALLOWING THE BOARD TO MAKE DECISIONS EFFECTING THE CORPORATION AND ITS MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ARE NOTIFIED WHEN THEN FORM 990 IS COMPLETE AND IT IS EITHER REVIEWED AT A REGULARLY SCHEDULED BOARD MEETING OR THEY ARE REQUESTED TO COME TO THE OFFICE AND REVIEW THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR TO PLACING A MEMBER'S NAME ON THE BOARD MEMBER ELECTION BALLOT, THEY ARE ASKED A SERIES OF QUESTIONS BASED UPON THE EXISTING CONFLICT OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS OF TALTY WATER SUPPLY CORPORATION ARE MAINTAINED AT THE ORGANIZATION'S OFFICES AT 12475 WINDY LANE, FORNEY, TX 75126, AND ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRIBUTED CAPITAL = $549536
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NEW MEMBER CONTRIBUTIONS = $642871
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other Changes In Net Assets Or Fund Balances - Other Increases
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010342458
IRS990/TotalAssetsEOYAmt011693866
IRS990/TotalAssetsGrp/BOYAmt010342458
IRS990/TotalAssetsGrp/EOYAmt011693866
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02639034
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0390130
IRS990/TotalLiabilitiesEOYAmt0678697
IRS990/TotalLiabilitiesGrp/BOYAmt0390130
IRS990/TotalLiabilitiesGrp/EOYAmt0678697
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09952328
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011015169
IRS990/TotalProgramServiceRevenueAmt02487021
IRS990/TotalRevenueGrp/ExclusionAmt022447
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02487021
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02509468
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010342458
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011693866
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt09952328
IRS990/UnrestrictedNetAssetsGrp/EOYAmt011015169
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.TALTYWSC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOT BOISVERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TALTY WATER SUPPLY CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0TALT
ReturnHeader/Filer/EIN0751942586
ReturnHeader/Filer/PhoneNum09725524422
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 701
ReturnHeader/Filer/USAddress/CityNm0FORNEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075126
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Murrey Paschall & Caperton PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0301 E BROAD ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FORNEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0751264110
ReturnHeader/PreparerPersonGrp/PhoneNum09725641660
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Eric E Paschall
ReturnHeader/ReturnTs02016-11-14T14:20:37-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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