B B Water Project INC FY2024 filing

Not tax-deductible

Bloomington, INMutual-benefit / member-servingMutual / membership EIN 35-1144643Revenue $1.1M in FY2024

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

95¢ of each $1 spent went to programs.
$32K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2024 · 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
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$32K
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
4 mo
of spending, in cash
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$615K
39% of total assets
Looks good: liabilities are 39% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1887
of 1887 voting members
Looks good: 1887 of 1887 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
+30% vs prior year
Spent
$1.2M
To programs
95%
Net assets
$976K
By yearFY2020–FY2025
Revenue
$1.1M
FY2024▲ +30%
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
FY2024▲ +14%
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
$976K
FY2024▼ -3%
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 FY2024 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

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

95 cents of each dollar spent went to programs.

Program services 95% · $1.1M Management & general 5% · $55K

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

10 people listed on the 990; $32K paid to officers and key staff.

Part VII, Section A · reportable compensation
$10,445Pt VII · Sec A
President
$6,370Pt VII · Sec A
Vice President
$3,770Pt VII · Sec A
Secretary
$2,845Pt VII · Sec A
Secretary
$2,745Pt VII · Sec A
Director
$1,420Pt VII · Sec A
$1,420Pt VII · Sec A
$1,420Pt 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.

See B B Water Project INC executive salaries →

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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 · $1.2M · in their own filed words · FY2024
01

Provide treated drinking water to customers/members

$1.2Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.1M
Managementcol C$55K
Owns and owesPt X
$976K
net assets · Ln 32
Cash and savingsLn 1–2$337K
Total assetsLn 16$1.6M
LiabilitiesLn 26$615K
PeoplePt VI, VII
10
listed · VII A
PaidVII A10
Voting boardVI 1a1,887
IndependentVI 1b1,887
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$226K
SavingsLn 2$111K
Cash and savings togetherLn 1–2$337K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.6M
LiabilitiesLn 26$615K
Net assetsLn 32$976K
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 FY24End FY24
Cash and savingsLn 1–2$86K$337K
Land, buildings, equipmentLn 10c$968K$1.2M
Total assetsLn 16$1.1M$1.6M
LiabilitiesLn 26$139K$615K
Net assetsLn 32$1.0M$976K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$32K$32K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$180$180
Office expensesLn 13$15K$12K$4K
OccupancyLn 16$18K$18K
InterestLn 20$9K$9K
Depreciation, depletion and amortizationLn 22$67K$67K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$947K$947K
All other expensesLn 24e$47K$47K
Total functional expensesLn 25$1.2M$1.1M$55K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.1M$1.2M−$145K$835K 990 PDF
FY2024 Viewing $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 FY2024 990 (6 parts)
Part I · Summary $1,128,209 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $868,348$1,124,711
I-10 Investment income$2,358
I-11 Other revenuePrior year $1,380$1,140
I-12 Total revenuePrior year $869,728$1,128,209
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $26,110$32,455
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $989,494$1,130,207
I-18 Total expensesPrior year $1,015,604$1,162,662
I-19 Revenue less expensesPrior year −$145,876−$34,453
Part VI · Governance 1,887 of 1,887 board members independent, 5 to look at
VI-1a Voting members of the governing body1,887
VI-1b Independent voting members1,887
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 $1,128,209 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,124,711$1,124,711
VIII-3 Investment incomeRelated to mission $2,358$2,358
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,140$1,140
VIII-12 Total revenueRelated to mission $1,128,209 · Unrelated business $0 · Excluded from tax $0$1,128,209
Part IX · Statement of functional expenses $1,162,662 across 11 lines filed
IX-5 Pay of current officers, directors and key staffManagement $32,455$32,455
IX-11b Legal feesManagement $6,772$6,772
IX-11c Accounting feesManagement $11,773$11,773
IX-12 Advertising and promotionPrograms $180$180
IX-13 Office expensesPrograms $11,787 · Management $3,661$15,448
IX-16 OccupancyPrograms $18,000$18,000
IX-20 InterestPrograms $8,514$8,514
IX-22 Depreciation, depletion and amortizationPrograms $66,955$66,955
IX-23 InsurancePrograms $7,969$7,969
IX-24 Other expenses (24a–d)Programs $947,400$947,400
IX-24e All other expensesPrograms $47,196$47,196
IX-25 Total functional expensesPrograms $1,108,001 · Management $54,661 · Fundraising $0$1,162,662
Part X · Balance sheet $1,590,429 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $86,031$225,924
X-2 Savings and temporary cash investments$111,452
X-4 Accounts receivableStart of year $93,718$95,423
X-10c Land, buildings and equipment, netStart of year $967,544$1,157,630
X-16 Total assetsStart of year $1,147,293$1,590,429
X-17 Accounts payable and accrued expensesStart of year $55,159$74,746
X-24 Unsecured notes and loans payableStart of year $77,802$533,647
X-25 Other liabilitiesStart of year $6,100$6,120
X-26 Total liabilitiesStart of year $139,061$614,513
X-27 Net assets without donor restrictionsStart of year $1,008,232$975,916
X-32 Total net assets or fund balancesStart of year $1,008,232$975,916
X-33 Total liabilities and net assetsStart of year $1,147,293$1,590,429
Part XI · Reconciliation of net assets $975,916 net assets at year end
XI-1 Total revenue$1,128,209
XI-2 Total expenses$1,162,662
XI-3 Revenue less expenses−$34,453
XI-4 Net assets at start of year$1,008,232
XI-8 Prior period adjustments$2,137
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$975,916

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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