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Freeny Water Association

Not tax-deductible

Carthage, MSMutual-benefit / member-servingSince 1968EIN 62-1373723Revenue $839K in FY2025

On file with the IRS1411 Highway 35 S, 39051-6070 · Carthage, MSTax-exempt since Jan 1998

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Provides Water to approximately two thousand members.

100¢ of each $1 spent went to programs.
$6K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

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
6 of 6
filings with a surplus
Average surplus $120K a year · 17% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$6K
to officers and key staff · 1.0% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 24.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$392K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2041
of 2041 voting members
Looks good: 2041 of 2041 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$839K
+9% vs prior year
Spent
$662K
To programs
100%
Net assets
$2.5M
By yearFY2020–FY2025
Revenue
$839K
FY2025▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$660K
FY2021$660K
FY2022$662K
FY2023$761K
FY2024$768K
FY2025$839K
Expenses
$662K
FY2025▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$587K
FY2021$571K
FY2022$594K
FY2023$610K
FY2024$607K
FY2025$662K
Net assets
$2.5M
FY2025▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$2.0M
FY2022$2.1M
FY2023$2.2M
FY2024$2.4M
FY2025$2.5M

From the FY2025 Form 990 (year ending June 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1998.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $662K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $6K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$1,300Pt VII · Sec A
Philip Crosby
Vice Preside
$1,300Pt VII · Sec A
Leran Ealy
Director
$1,300Pt VII · Sec A
H V Neal
President
$1,300Pt VII · Sec A
Jamey Johnson
Secretary
$650Pt VII · Sec A
Linda Terrell
Secretary
$650Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kenneth Clayton$1,300$1,200$1,200$960$960$720
Philip Crosby$1,300$1,200$1,200$960$960$720
Leran Ealy$1,300$1,200$1,200$960$960$720
H V Neal$1,300$1,200$1,200$960$960$720
Linda Terrell$650$1,200$1,200$960$960$720
Jamey Johnson$650—————

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 15aNo

Programs and updates

Supplies clean water to about two thousand people.

Questions for Freeny Water Association

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Provided by the organization

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1 program · $662K · in their own filed words · FY2024
01

Revenue from water service furnished to members enables the association to maintain the system and retire debt.

$662Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$839K
Ln 12
Fees for servicesLn 2g$808K
Investment incomeLn 3$31K
Money outPt IX
$662K
Ln 25
Programscol B$662K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$2.9M
LiabilitiesLn 26$392K
PeoplePt VI, VII
6
listed · VII A
PaidVII A6
Voting boardVI 1a2,041
IndependentVI 1b2,041
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$808K
Investment incomeLn 3$31K
Total revenueLn 12$839K
Assets in detailPt X, end of year
CashLn 1$518K
SavingsLn 2$816K
Cash and savings togetherLn 1–2$1.3M
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$2.9M
LiabilitiesLn 26$392K
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderJune
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$1.1M$1.3M
Land, buildings, equipmentLn 10c$1.6M$1.5M
Total assetsLn 16$2.8M$2.9M
LiabilitiesLn 26$433K$392K
Net assetsLn 32$2.4M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$186K
Payroll taxesLn 10$15K
Accounting feesLn 11c$7K
Advertising and promotionLn 12$541
Office expensesLn 13$16K
OccupancyLn 16$79K
InterestLn 20$14K
Depreciation, depletion and amortizationLn 22$121K
InsuranceLn 23$21K
Other expenses (24a–d)Ln 24$185K
All other expensesLn 24e$18K
Total functional expensesLn 25$662K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $839K$662K$177K$2.5M 990 PDF
FY2024 $768K$607K$160K$2.4M 990 PDF
FY2023 $761K$610K$151K$2.2M 990 PDF
FY2022 $662K$594K$67K$2.1M 990 PDF
FY2021 $660K$571K$89K$2.0M 990 PDF
FY2020 $660K$587K$74K$1.9M 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 FY2025 990 (6 parts)
Part I · Summary $838,801 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $755,531$807,945
I-10 Investment incomePrior year $12,339$30,856
I-11 Other revenue$0
I-12 Total revenuePrior year $767,870$838,801
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $165,695$200,486
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $441,775$461,465
I-18 Total expensesPrior year $607,470$661,951
I-19 Revenue less expensesPrior year $160,400$176,850
Part VI · Governance 2,041 of 2,041 board members independent, 4 to look at
VI-1a Voting members of the governing body2,041
VI-1b Independent voting members2,041
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $838,801 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $807,945$807,945
VIII-3 Investment incomeExcluded from tax $30,856$30,856
VIII-12 Total revenueRelated to mission $807,945 · Excluded from tax $30,856$838,801
Part IX · Statement of functional expenses $661,951 across 11 lines filed
IX-7 Other salaries and wages$185,914
IX-10 Payroll taxes$14,572
IX-11c Accounting fees$6,620
IX-12 Advertising and promotion$541
IX-13 Office expenses$16,012
IX-16 Occupancy$79,436
IX-20 Interest$13,845
IX-22 Depreciation, depletion and amortization$121,010
IX-23 Insurance$20,803
IX-24 Other expenses (24a–d)$185,236
IX-24e All other expenses$17,962
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$661,951
Part X · Balance sheet $2,939,167 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $284,410$517,817
X-2 Savings and temporary cash investmentsStart of year $785,314$816,013
X-4 Accounts receivableStart of year $107,580$91,924
X-8 Inventories for sale or useStart of year $30,434$30,434
X-9 Prepaid expenses and deferred chargesStart of year $19,993$25,857
X-10c Land, buildings and equipment, netStart of year $1,575,341$1,457,122
X-16 Total assetsStart of year $2,803,072$2,939,167
X-17 Accounts payable and accrued expensesStart of year $26,429$47,712
X-25 Other liabilitiesStart of year $70,405$72,845
X-26 Total liabilitiesStart of year $432,832$392,077
X-27 Net assets without donor restrictionsStart of year $575,546$912,796
X-28 Net assets with donor restrictionsStart of year $1,794,694$1,634,294
X-32 Total net assets or fund balancesStart of year $2,370,240$2,547,090
X-33 Total liabilities and net assetsStart of year $2,803,072$2,939,167
Part XI · Reconciliation of net assets $2,547,090 net assets at year end
XI-1 Total revenue$838,801
XI-2 Total expenses$661,951
XI-3 Revenue less expenses$176,850
XI-4 Net assets at start of year$2,370,240
XI-10 Net assets at end of year$2,547,090

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

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