Civic Intelligence

Possum Kingdom Water Supply Corporation

990 • Fiscal year 2018 • EIN 75-2429778

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 15, 2019

Organization ProfileWWW.PKWATERSUPPLY.COM
1170 Willow RoadGraford, TX 76449

(940) 779-3100

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$23,531,697

Flat from 2018

Net Assets

Flat

$16,646,848

Flat from 2018

Liabilities

Flat

$6,884,849

Flat from 2018

Revenue And Expenses

Revenue

Flat

$2,701,338

Flat from 2018

Expenses

Flat

$2,657,001

Flat from 2018

Net Income

Flat

$44,337

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $18,849,001Liabilities 2011: $10,000,767Net Assets 2011: $8,848,2342011Assets 2012: $18,440,023Liabilities 2012: $9,471,423Net Assets 2012: $8,968,6002012Assets 2013: $17,990,068Liabilities 2013: $9,108,319Net Assets 2013: $8,881,7492013Assets 2014: $17,896,000Liabilities 2014: $8,725,538Net Assets 2014: $9,170,4622014Assets 2015: $17,232,719Liabilities 2015: $8,306,862Net Assets 2015: $8,925,8572015Assets 2016: $16,769,382Liabilities 2016: $7,881,997Net Assets 2016: $8,887,3852016Assets 2017: $23,950,595Liabilities 2017: $7,382,099Net Assets 2017: $16,568,4962017Assets 2018: $23,531,697Liabilities 2018: $6,884,849Net Assets 2018: $16,646,8482018Assets 2018: $23,531,697Liabilities 2018: $6,884,849Net Assets 2018: $16,646,8482018Assets 2019: $24,288,204Liabilities 2019: $6,506,009Net Assets 2019: $17,782,1952019Assets 2020: $24,321,015Liabilities 2020: $6,896,942Net Assets 2020: $17,424,0732020Assets 2021: $24,454,803Liabilities 2021: $6,210,930Net Assets 2021: $18,243,8732021Assets 2022: $24,632,138Liabilities 2022: $5,183,970Net Assets 2022: $19,448,1682022Assets 2023: $27,919,518Liabilities 2023: $5,843,316Net Assets 2023: $22,076,2022023Assets 2024: $28,712,946Liabilities 2024: $5,556,812Net Assets 2024: $23,156,1342024

Highlighted filing

2018

Assets$23,531,697
Liabilities$6,884,849
Net Assets$16,646,848
Open 2018 Filing

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,344,969Expenses 2011: $2,137,942Net Income 2011: $207,0272011Revenue 2012: $2,260,585Expenses 2012: $2,157,859Net Income 2012: $102,7262012Revenue 2013: $2,268,094Expenses 2013: $2,372,329Net Income 2013: -$104,2352013Revenue 2014: $2,807,615Expenses 2014: $2,534,642Net Income 2014: $272,9732014Revenue 2015: $2,284,602Expenses 2015: $2,530,165Net Income 2015: -$245,5632015Revenue 2016: $2,301,922Expenses 2016: $2,346,814Net Income 2016: -$44,8922016Revenue 2017: $2,432,689Expenses 2017: $2,451,990Net Income 2017: -$19,3012017Revenue 2018: $2,701,338Expenses 2018: $2,657,001Net Income 2018: $44,3372018Revenue 2018: $2,701,338Expenses 2018: $2,657,001Net Income 2018: $44,3372018Revenue 2019: $2,881,781Expenses 2019: $2,721,925Net Income 2019: $159,8562019Revenue 2020: $3,192,426Expenses 2020: $2,732,072Net Income 2020: $460,3542020Revenue 2021: $3,708,901Expenses 2021: $2,996,466Net Income 2021: $712,4352021Revenue 2022: $4,323,156Expenses 2022: $3,265,036Net Income 2022: $1,058,1202022Revenue 2023: $5,795,386Expenses 2023: $3,240,450Net Income 2023: $2,554,9362023Revenue 2024: $4,572,575Expenses 2024: $3,592,273Net Income 2024: $980,3022024

Highlighted filing

2018

Revenue$2,701,338
Expenses$2,657,001
Net Income$44,337
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 15, 2019
Return Version
2018v3.1
Gross Receipts
$2,701,338
Mission and Program Overview

Mission

To provide low cost water service to the residents of the possum kingdom lake area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,290,212$18,345,111▼ $945,101
Savings and Temporary Cash Investments$3,811,593$4,554,685▲ $743,092
Accounts Receivable$242,153$216,975▼ $25,178
Cash and Non-Interest-Bearing Accounts$314,218$147,491▼ $166,727
Total Assets$23,950,595$23,531,697▼ $418,898
Other Assets Total$292,419$267,435▼ $24,984
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,225,288$6,778,797▼ $446,491
Accounts Payable and Accrued Expenses$141,464$89,855▼ $51,609
Deferred Revenue$15,347$16,197▲ $850
Total Liabilities$7,382,099$6,884,849▼ $497,250
Net Assets / Fund Balance
Unrestricted Net Assets$15,977,469$15,997,569▲ $20,100
Temporarily Rstr Net Assets$591,027$649,279▲ $58,252
Total Net Assets Fund Balance$16,568,496$16,646,848▲ $78,352
Total Liabilities and Net Assets / Fund Balance$23,950,595$23,531,697▼ $418,898

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,240,211$10,285,385$28,525,596
Land$104,900-$104,900
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ted LewellenPresident
Erika CarterBoard Member
Jo Lynn MillerBoard Member
Merton FewellBoard Member
Richard LaskeBoard Member
Rosendo FerrerBoard Member
Tod PawleyBoard Member
Mike PattonSecretary/tr
Monty JasperVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,614,338
Investment Income
$87,000
Other Revenue
$0
Change in Net Assets
$44,337

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,701,338
Total Revenue per Audited Statements
$2,701,338
Total Revenue per Form 990
$2,701,338
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,158,617
Salaries, Compensation, and Employee Benefits$498,384
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,023,443--$1,023,443
Other Salaries and Wages$428,149--$428,149
Interest$264,042--$264,042
Occupancy$163,636--$163,636
Insurance$103,346--$103,346
All Other Expenses$58,608--$58,608
Pension Plan Contributions$37,340--$37,340
Fees for Services Accounting$34,007--$34,007
Office Expenses$33,399--$33,399
Payroll Taxes$32,895--$32,895
Other Expenses$24,984--$24,984
Advertising$1,592--$1,592
Total Functional Expenses$2,657,001$0$0$2,657,001

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,657,001
Total Expenses per Audited Statements$2,657,001
Total Expenses per Form 990$2,657,001
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
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 6

“The organization is comprised of members purchasing a membership. (no classes)”

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

“The governing body is a board of directors elected at large from the members; officers are elected from the board of directors.”

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

“Changes to bylaws are subject to approval by members.”

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

“The 990 is reviewed and signed by an officer of the board and a copy is maintained in the corporation's office that is available for review upon request.”

Form 990, Page 6, Part VI, Line 12C

“According to the corporation's by-laws, the board of directors shall adopt and maintain a conflict of interest policy designed to promote the business of the corporation and serve the interests of the membership. Such policy, at a minimum, shall be in conformance with the provisions of the texas nonprofit corporation act pertaining to duties and responsibilities of the board of directors.”

Form 990, Page 6, Part VI, Line 15A

“The corporation's top management officials salaries are reviewed, approved, and adjusted through action by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“The corporation's key employees and other salaries are reviewed, approved, and adjusted through action by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Possum Kingdom Water
EIN
75-2429778
Phone
9407793100
Address
1170 WILLOW ROAD, GRAFORD, TX 76449

Signing Officer

Name
Ted Lewellen
Title
President
Phone
9407793100
Signed
2019-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ted Lewellen
Formed
2002
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
8

Preparer

Firm
Snow Garrett Williams
Address
1207 SANTA FE DR, WEATHERFORD, TX 76086-5819
Preparer
Kathy Williams
Phone
8175969301
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Membership contributions 5,400 impact capital contributions 28,615 total 34,015”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS COMPRISED OF MEMBERS PURCHASING A MEMBERSHIP. (NO CLASSES)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY IS A BOARD OF DIRECTORS ELECTED AT LARGE FROM THE MEMBERS; OFFICERS ARE ELECTED FROM THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHANGES TO BYLAWS ARE SUBJECT TO APPROVAL BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 990 IS REVIEWED AND SIGNED BY AN OFFICER OF THE BOARD AND A COPY IS MAINTAINED IN THE CORPORATION'S OFFICE THAT IS AVAILABLE FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ACCORDING TO THE CORPORATION'S BY-LAWS, THE BOARD OF DIRECTORS SHALL ADOPT AND MAINTAIN A CONFLICT OF INTEREST POLICY DESIGNED TO PROMOTE THE BUSINESS OF THE CORPORATION AND SERVE THE INTERESTS OF THE MEMBERSHIP. SUCH POLICY, AT A MINIMUM, SHALL BE IN CONFORMANCE WITH THE PROVISIONS OF THE TEXAS NONPROFIT CORPORATION ACT PERTAINING TO DUTIES AND RESPONSIBILITIES OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CORPORATION'S TOP MANAGEMENT OFFICIALS SALARIES ARE REVIEWED, APPROVED, AND ADJUSTED THROUGH ACTION BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CORPORATION'S KEY EMPLOYEES AND OTHER SALARIES ARE REVIEWED, APPROVED, AND ADJUSTED THROUGH ACTION BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8MEMBERSHIP CONTRIBUTIONS 5,400 IMPACT CAPITAL CONTRIBUTIONS 28,615 TOTAL 34,015
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 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalAssetsGrp/EOYAmt023531697
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt02657001
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07382099
IRS990/TotalLiabilitiesEOYAmt06884849
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IRS990/TotalLiabilitiesGrp/EOYAmt06884849
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt016646848
IRS990/TotalProgramServiceExpensesAmt02657001
IRS990/TotalProgramServiceRevenueAmt02614338
IRS990/TotalRevenueGrp/ExclusionAmt087000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02614338
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02701338
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023950595
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023531697
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt015977469
IRS990/UnrestrictedNetAssetsGrp/EOYAmt015997569
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01170 WILLOW ROAD
IRS990/USAddress/CityNm0GRAYFORD
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076449
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TED LEWELLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09407793100
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0POSSUM KINGDOM WATER
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SUPPLY CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0POSS
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ReturnHeader/Filer/PhoneNum09407793100
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-05-01
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:58:02
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0752353675
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SNOW GARRETT WILLIAMS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01207 SANTA FE DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEATHERFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0760865819
ReturnHeader/PreparerPersonGrp/PhoneNum08175969301
ReturnHeader/PreparerPersonGrp/PreparationDt02019-04-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHY WILLIAMS
ReturnHeader/ReturnTs02019-05-01T09:58:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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
$23,531,697
Liabilities
$6,884,849
Net assets
$16,646,848
Revenue
$2,701,338
Expenses
$2,657,001
Net income
$44,337
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$28.7$5.56$23.2$4.57$3.59$0.98
2023Detailed filing. Detailed filing data is available for this year.$27.9$5.84$22.1$5.80$3.24$2.55
2022Detailed filing. Detailed filing data is available for this year.$24.6$5.18$19.4$4.32$3.27$1.06
2021Detailed filing. Detailed filing data is available for this year.$24.5$6.21$18.2$3.71$3.00$0.71
2020Detailed filing. Detailed filing data is available for this year.$24.3$6.90$17.4$3.19$2.73$0.46
2019Detailed filing. Detailed filing data is available for this year.$24.3$6.51$17.8$2.88$2.72$0.16
2018Detailed filing. Detailed filing data is available for this year.$23.5$6.88$16.6$2.70$2.66$0.04
2018Detailed filing. Detailed filing data is available for this year.$23.5$6.88$16.6$2.70$2.66$0.04
2017Detailed filing. Detailed filing data is available for this year.$24.0$7.38$16.6$2.43$2.45$0.02
2016Detailed filing. Detailed filing data is available for this year.$16.8$7.88$8.89$2.30$2.35$0.04
2015Detailed filing. Detailed filing data is available for this year.$17.2$8.31$8.93$2.28$2.53$0.25
2014Summary only. Only limited summary data is available for this year.$17.9$8.73$9.17$2.81$2.53$0.27
2013Summary only. Only limited summary data is available for this year.$18.0$9.11$8.88$2.27$2.37$0.10
2012Summary only. Only limited summary data is available for this year.$18.4$9.47$8.97$2.26$2.16$0.10
2011Summary only. Only limited summary data is available for this year.$18.8$10.0$8.85$2.34$2.14$0.21