Deep Run Water Corp FY2022 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.

98¢ 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

FY2022 · 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
98%
of spending
Looks good: 98% 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 · 0.1% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$378K
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
$2.4M
+1% vs prior year
Spent
$2.5M
To programs
98%
Net assets
$6.6M
By yearFY2020–FY2024
Revenue
$2.4M
FY2022▲ +1%
Revenue by fiscal year
FY2020$2.2M
FY2021$2.3M
FY2022$2.4M
FY2023$2.4M
FY2024$2.4M
Expenses
$2.5M
FY2022▲ +9%
Expenses by fiscal year
FY2020$2.3M
FY2021$2.3M
FY2022$2.5M
FY2023$2.5M
FY2024$2.6M
Net assets
$6.6M
FY2022▼ -4%
Net assets by fiscal year
FY2020$6.8M
FY2021$6.9M
FY2022$6.6M
FY2023$6.5M
FY2024$6.4M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

98 cents of each dollar spent went to programs.

Program services 98% · $2.5M Management & general 2% · $40K

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; $4K paid to officers and key staff.

Part VII, Section A · reportable compensation
Former Director
$3,600Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice President
$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 · $2.5M · in their own filed words · FY2022
01

Provided clean water to 5,444 resident members of southern Lenoir County.

$2.5Mprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Fees for servicesLn 2g$2.3M
Investment incomeLn 3$27K
Gifts and grantsLn 1h$2K
Money outPt IX
$2.5M
Ln 25
Programscol B$2.5M
Managementcol C$40K
Owns and owesPt X
$6.6M
net assets · Ln 32
Cash and savingsLn 1–2$463K
Total assetsLn 16$7.0M
LiabilitiesLn 26$378K
PeoplePt VI, VII
10
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$2.3M
Investment incomeLn 3$27K
Gains on assetsLn 7$4K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$300
SavingsLn 2$463K
Cash and savings togetherLn 1–2$463K
InvestmentsLn 11–13$972K
Land, buildings, equipmentLn 10c$5.2M
Total assetsLn 16$7.0M
LiabilitiesLn 26$378K
Net assetsLn 32$6.6M
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 FY22End FY22
Cash and savingsLn 1–2$422K$463K
InvestmentsLn 11–13$1.1M$972K
Land, buildings, equipmentLn 10c$5.4M$5.2M
Total assetsLn 16$7.3M$7.0M
LiabilitiesLn 26$379K$378K
Net assetsLn 32$6.9M$6.6M
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$336K$336K
Pension plan contributionsLn 8$16K$16K
Other employee benefitsLn 9$77K$77K
Payroll taxesLn 10$26K$26K$299
Legal feesLn 11b$777$777
Accounting feesLn 11c$11K$11K
Investment management feesLn 11f$14K$14K
Office expensesLn 13$40K$40K
TravelLn 17$52K$47K$6K
Conferences, conventions and meetingsLn 19$4K$4K
Depreciation, depletion and amortizationLn 22$348K$348K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$1.5M$1.5M
Total functional expensesLn 25$2.5M$2.5M$40K$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 Viewing $2.4M$2.5M−$152K$6.6M 990 PDF
FY2021 $2.3M$2.3M$17K$6.9M 990 PDF
FY2020 $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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $2,356,844 across 6 lines filed
VIII-1b Membership dues$1,920
VIII-1h Total contributions, gifts and grants$1,920
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,328,175$2,328,175
VIII-3 Investment incomeRelated to mission $23,249$23,249
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,500$3,500
VIII-12 Total revenueRelated to mission $2,354,924 · Unrelated business $0 · Excluded from tax $0$2,356,844
Part IX · Statement of functional expenses $2,508,458 across 14 lines filed
IX-5 Pay of current officers, directors and key staffManagement $3,600$3,600
IX-7 Other salaries and wagesPrograms $335,945$335,945
IX-8 Pension plan contributionsPrograms $16,270$16,270
IX-9 Other employee benefitsPrograms $76,919$76,919
IX-10 Payroll taxesPrograms $25,853 · Management $299$26,152
IX-11b Legal feesManagement $777$777
IX-11c Accounting feesManagement $11,206$11,206
IX-11f Investment management feesManagement $13,993$13,993
IX-13 Office expensesPrograms $39,842$39,842
IX-17 TravelPrograms $46,555 · Management $5,750$52,305
IX-19 Conferences, conventions and meetingsManagement $4,087$4,087
IX-22 Depreciation, depletion and amortizationPrograms $348,082$348,082
IX-23 InsurancePrograms $29,899$29,899
IX-24 Other expenses (24a–d)Programs $1,549,381$1,549,381
IX-25 Total functional expensesPrograms $2,468,746 · Management $39,712 · Fundraising $0$2,508,458
Part X · Balance sheet $6,988,086 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $300$300
X-2 Savings and temporary cash investmentsStart of year $421,850$462,526
X-4 Accounts receivableStart of year $335,958$338,967
X-8 Inventories for sale or useStart of year $24,792$18,172
X-9 Prepaid expenses and deferred chargesStart of year $7,352$11,876
X-10c Land, buildings and equipment, netStart of year $5,386,499$5,183,956
X-11 Publicly traded securitiesStart of year $1,079,716$972,289
X-16 Total assetsStart of year $7,256,467$6,988,086
X-17 Accounts payable and accrued expensesStart of year $22,974$16,102
X-25 Other liabilitiesStart of year $355,592$362,302
X-26 Total liabilitiesStart of year $378,566$378,404
X-27 Net assets without donor restrictionsStart of year $6,877,901$6,609,682
X-32 Total net assets or fund balancesStart of year $6,877,901$6,609,682
X-33 Total liabilities and net assetsStart of year $7,256,467$6,988,086
Part XI · Reconciliation of net assets $6,609,682 net assets at year end
XI-1 Total revenue$2,356,844
XI-2 Total expenses$2,508,458
XI-3 Revenue less expenses−$151,614
XI-4 Net assets at start of year$6,877,901
XI-5 Net unrealized gains (losses) on investments−$116,605
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,609,682

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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