Deep Run Water Corp FY2020 filing

Not tax-deductible

Deep Run, NCMutual-benefit / member-servingEIN 56-0933167

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Provide clean water to 5,303 resident members of southern Lenoir County.

99¢ of each $1 spent went to programs.
$4K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $114K a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4K
to officers and key staff · 0.2% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$359K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
Spent
$2.3M
To programs
99%
Net assets
$6.8M
By yearFY2020–FY2024
Revenue
$2.2M
FY2020
Revenue by fiscal year
FY2020$2.2M
FY2021$2.3M
FY2022$2.4M
FY2023$2.4M
FY2024$2.4M
Expenses
$2.3M
FY2020
Expenses by fiscal year
FY2020$2.3M
FY2021$2.3M
FY2022$2.5M
FY2023$2.5M
FY2024$2.6M
Net assets
$6.8M
FY2020
Net assets by fiscal year
FY2020$6.8M
FY2021$6.9M
FY2022$6.6M
FY2023$6.5M
FY2024$6.4M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1969.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $2.3M Management & general 1% · $29K

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

9 people listed on the 990; $4K paid to officers and key staff.

Part VII, Section A · reportable compensation
$3,600Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Andy Heath$3,600$3,600———
Emmette C Sutton——$3,600$3,600$3,600

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Brings clean water to southern Lenoir County residents.

Provided by the organization

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1 program service account for $2.3M of program spending, described in the organization's own filed words · FY2020.
01

Provided clean water to 5,303 resident members of southern Lenoir County.

$2.3Mprogram expense

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By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$17K
Gifts and grantsLn 1h$2K
Money outPt IX
$2.3M
Ln 25
Programscol B$2.3M
Managementcol C$29K
Owns and owesPt X
$6.8M
net assets · Ln 32
Cash and savingsLn 1–2$714K
Total assetsLn 16$7.2M
LiabilitiesLn 26$359K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$17K
Gains on assetsLn 7$1K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$300
SavingsLn 2$714K
Cash and savings togetherLn 1–2$714K
InvestmentsLn 11–13$449K
Land, buildings, equipmentLn 10c$5.7M
Total assetsLn 16$7.2M
LiabilitiesLn 26$359K
Net assetsLn 32$6.8M
OperationsPt I, VI
EmployeesI 58
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 FY20End FY20
Cash and savingsLn 1–2$505K$714K
InvestmentsLn 11–13$415K$449K
Land, buildings, equipmentLn 10c$6.0M$5.7M
Total assetsLn 16$7.3M$7.2M
LiabilitiesLn 26$339K$359K
Net assetsLn 32$7.0M$6.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$4K$4K
Other salaries and wagesLn 7$318K$318K
Pension plan contributionsLn 8$13K$13K
Other employee benefitsLn 9$75K$75K
Payroll taxesLn 10$25K$24K$299
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$10K$10K
Investment management feesLn 11f$6K$6K
Office expensesLn 13$25K$25K
TravelLn 17$39K$34K$5K
Conferences, conventions and meetingsLn 19$2K$2K
Depreciation, depletion and amortizationLn 22$386K$386K
InsuranceLn 23$31K$31K
Other expenses (24a–d)Ln 24$1.4M$1.4M
Total functional expensesLn 25$2.3M$2.3M$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.4M$2.6M−$186K$6.4M 990 PDF
FY2023 $2.4M$2.5M−$99K$6.5M 990 PDF
FY2022 $2.4M$2.5M−$152K$6.6M 990 PDF
FY2021 $2.3M$2.3M$17K$6.9M 990 PDF
FY2020 Viewing $2.2M$2.3M−$153K$6.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $2,192,089 across 6 lines filed
VIII-1b Membership dues$2,320
VIII-1h Total contributions, gifts and grants$2,320
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,173,176$2,173,176
VIII-3 Investment incomeRelated to mission $15,409$15,409
VIII-7 Net gain or loss on sales of assetsRelated to mission $1,184$1,184
VIII-12 Total revenueRelated to mission $2,189,769 · Unrelated business $0 · Excluded from tax $0$2,192,089
Part IX · Statement of functional expenses $2,344,866 across 14 lines filed
IX-5 Pay of current officers, directors and key staffManagement $3,600$3,600
IX-7 Other salaries and wagesPrograms $317,998$317,998
IX-8 Pension plan contributionsPrograms $12,910$12,910
IX-9 Other employee benefitsPrograms $74,727$74,727
IX-10 Payroll taxesPrograms $24,359 · Management $299$24,658
IX-11b Legal feesManagement $1,525$1,525
IX-11c Accounting feesManagement $10,427$10,427
IX-11f Investment management feesManagement $5,932$5,932
IX-13 Office expensesPrograms $25,481$25,481
IX-17 TravelPrograms $34,254 · Management $4,600$38,854
IX-19 Conferences, conventions and meetingsManagement $2,382$2,382
IX-22 Depreciation, depletion and amortizationPrograms $385,711$385,711
IX-23 InsurancePrograms $31,258$31,258
IX-24 Other expenses (24a–d)Programs $1,409,403$1,409,403
IX-25 Total functional expensesPrograms $2,316,101 · Management $28,765 · Fundraising $0$2,344,866
Part X · Balance sheet $7,202,650 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $300$300
X-2 Savings and temporary cash investmentsStart of year $504,865$713,836
X-4 Accounts receivableStart of year $342,679$330,371
X-8 Inventories for sale or useStart of year $16,677$28,493
X-9 Prepaid expenses and deferred chargesStart of year $8,839$8,678
X-10c Land, buildings and equipment, netStart of year $6,023,250$5,671,978
X-11 Publicly traded securitiesStart of year $414,992$448,994
X-16 Total assetsStart of year $7,311,602$7,202,650
X-17 Accounts payable and accrued expensesStart of year $9,786$13,835
X-25 Other liabilitiesStart of year $329,693$344,881
X-26 Total liabilitiesStart of year $339,479$358,716
X-27 Net assets without donor restrictionsStart of year $6,972,123$6,843,934
X-32 Total net assets or fund balancesStart of year $6,972,123$6,843,934
X-33 Total liabilities and net assetsStart of year $7,311,602$7,202,650
Part XI · Reconciliation of net assets $6,843,934 net assets at year end
XI-1 Total revenue$2,192,089
XI-2 Total expenses$2,344,866
XI-3 Revenue less expenses−$152,777
XI-4 Net assets at start of year$6,972,123
XI-5 Net unrealized gains (losses) on investments$24,588
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,843,934

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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