B B Water Project INC

Not tax-deductible

Bloomington, INMutual-benefit / member-servingMutual / membership EIN 35-1144643Revenue $1.1M in FY2025

On file with the IRSbandbwaterproject.comPo Box 7287, 47407-7287 · Bloomington, INTax-exempt since Mar 1969

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Provide drinking water to customersmembers

96¢ of each $1 spent went to programs.
$40K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $99K a year · 11% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$40K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$496K
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1885
of 1885 voting members
Looks good: 1885 of 1885 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
-2% vs prior year
Spent
$1.2M
To programs
96%
Net assets
$835K
By yearFY2020–FY2025
Revenue
$1.1M
FY2025▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$764K
FY2021$741K
FY2022$791K
FY2023$870K
FY2024$1.1M
FY2025$1.1M
Expenses
$1.2M
FY2025▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$838K
FY2021$819K
FY2022$906K
FY2023$1.0M
FY2024$1.2M
FY2025$1.2M
Net assets
$835K
FY2025▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.1M
FY2023$1.0M
FY2024$976K
FY2025$835K

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1969.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $1.2M Management & general 4% · $54K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $40K paid to officers and key staff.

Part VII, Section A · reportable compensation
$20,595Pt VII · Sec A
President
$5,840Pt VII · Sec A
Vice President
$3,015Pt VII · Sec A
Secretary
$2,270Pt VII · Sec A
Director
$1,440Pt VII · Sec A
$1,440Pt VII · Sec A
$1,440Pt VII · Sec A
Director
$1,440Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jeffrey H Underwood$20,595$10,445$8,820$8,820$8,820$8,820
Dale Lisby$5,840$6,370$5,220$5,220$5,220$5,220
Jay Floyd$3,015$3,770$2,520$3,720$2,520$2,520
David Sharp——$1,150$3,720$3,720$3,120
Brian Crouch—$2,745$3,120$1,320$1,320$1,320
Alain Bouvier$2,270$2,845$990———
Scott Moore$1,440$1,420$1,320$1,320$1,320$1,320
Jon Richardson$1,440$1,420$1,320$1,320——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Delivers safe drinking water to community members.

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1 program · in their own filed words · FY2025
01

Provide drinking water to members/customers

Pt IX · col B

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$2K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Managementcol C$54K
Owns and owesPt X
$835K
net assets · Ln 32
Cash and savingsLn 1–2$113K
Total assetsLn 16$1.3M
LiabilitiesLn 26$496K
PeoplePt VI, VII
12
listed · VII A
PaidVII A12
Voting boardVI 1a1,885
IndependentVI 1b1,885
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$2K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$70K
SavingsLn 2$42K
Cash and savings togetherLn 1–2$113K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$496K
Net assetsLn 32$835K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$337K$113K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$1.6M$1.3M
LiabilitiesLn 26$615K$496K
Net assetsLn 32$976K$835K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$20K$20K
Legal feesLn 11b$635$635
Accounting feesLn 11c$27K$27K
Advertising and promotionLn 12$214$214
Office expensesLn 13$19K$13K$6K
OccupancyLn 16$18K$18K
InterestLn 20$40K$40K
Depreciation, depletion and amortizationLn 22$67K$67K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$995K$995K
All other expensesLn 24e$54K$54K
Total functional expensesLn 25$1.2M$1.2M$54K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.1M$1.2M−$145K$835K 990 PDF
FY2024 $1.1M$1.2M−$34K$976K 990 PDF
FY2023 $870K$1.0M−$146K$1.0M 990 PDF
FY2022 $791K$906K−$115K$1.1M 990 PDF
FY2021 $741K$819K−$79K$1.3M 990 PDF
FY2020 $764K$838K−$74K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,104,749 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,124,711$1,102,529
I-10 Investment incomePrior year $2,358$2,220
I-11 Other revenuePrior year $1,140$0
I-12 Total revenuePrior year $1,128,209$1,104,749
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $32,455$20,305
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,130,207$1,229,418
I-18 Total expensesPrior year $1,162,662$1,249,723
I-19 Revenue less expensesPrior year −$34,453−$144,974
Part VI · Governance 1,885 of 1,885 board members independent, 5 to look at
VI-1a Voting members of the governing body1,885
VI-1b Independent voting members1,885
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $1,104,749 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,102,529$1,102,529
VIII-3 Investment incomeRelated to mission $2,220$2,220
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $1,104,749 · Unrelated business $0 · Excluded from tax $0$1,104,749
Part IX · Statement of functional expenses $1,249,723 across 11 lines filed
IX-5 Pay of current officers, directors and key staffManagement $20,305$20,305
IX-11b Legal feesManagement $635$635
IX-11c Accounting feesManagement $27,028$27,028
IX-12 Advertising and promotionPrograms $214$214
IX-13 Office expensesPrograms $12,909 · Management $5,961$18,870
IX-16 OccupancyPrograms $18,000$18,000
IX-20 InterestPrograms $39,746$39,746
IX-22 Depreciation, depletion and amortizationPrograms $67,021$67,021
IX-23 InsurancePrograms $8,563$8,563
IX-24 Other expenses (24a–d)Programs $994,851$994,851
IX-24e All other expensesPrograms $54,490$54,490
IX-25 Total functional expensesPrograms $1,195,794 · Management $53,929 · Fundraising $0$1,249,723
Part X · Balance sheet $1,331,293 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $225,924$70,429
X-2 Savings and temporary cash investmentsStart of year $111,452$42,152
X-4 Accounts receivableStart of year $95,423$102,103
X-10c Land, buildings and equipment, netStart of year $1,157,630$1,116,609
X-16 Total assetsStart of year $1,590,429$1,331,293
X-17 Accounts payable and accrued expensesStart of year $74,746$59,556
X-24 Unsecured notes and loans payableStart of year $533,647$430,353
X-25 Other liabilitiesStart of year $6,120$6,413
X-26 Total liabilitiesStart of year $614,513$496,322
X-32 Total net assets or fund balancesStart of year $975,916$834,971
X-33 Total liabilities and net assetsStart of year $1,590,429$1,331,293
Part XI · Reconciliation of net assets $834,971 net assets at year end
XI-1 Total revenue$1,104,749
XI-2 Total expenses$1,249,723
XI-3 Revenue less expenses−$144,974
XI-4 Net assets at start of year$975,916
XI-8 Prior period adjustments−$4,926
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$834,971

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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