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Independence Water Association INC FY2021 filing

Not tax-deductible

Courtland, MSMutual-benefit / member-servingMutual / membership EIN 64-0468397Revenue $280K in FY2021

On file with the IRS1247 Benson Rd, 38620-9243 · Courtland, MSTax-exempt since Jun 1968

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Provide safe drinking Water

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2021 · 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
4 of 4
filings with a surplus
Average surplus $49K a year · 14% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$72K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$280K
Spent
$249K
To programs
100%
Net assets
$623K
By yearFY2021–FY2025
Revenue
$280K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$280K
FY2023$323K
FY2024$344K
FY2025$432K
Expenses
$249K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$249K
FY2023$280K
FY2024$277K
FY2025$377K
Net assets
$623K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$623K
FY2023$679K
FY2024$804K
FY2025$859K

From the FY2021 Form 990 (year ending September 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 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 Jun 1968.

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% · $249K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Independence Water Association 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Independence Water Association INC is a member-serving organization based in Courtland, MS.

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Provided by the organization

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1 program · $249K · in their own filed words · FY2020
01

Independence water association is a rural water association serving 600 plus households with safe drinking water

$249Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$280K
Ln 12
Fees for servicesLn 2g$280K
Investment incomeLn 3$76
Money outPt IX
$249K
Ln 25
Programscol B$249K
Owns and owesPt X
$623K
net assets · Ln 32
Cash and savingsLn 1–2$161K
Total assetsLn 16$695K
LiabilitiesLn 26$72K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$280K
Investment incomeLn 3$76
Total revenueLn 12$280K
Assets in detailPt X, end of year
CashLn 1$81K
SavingsLn 2$80K
Cash and savings togetherLn 1–2$161K
Land, buildings, equipmentLn 10c$482K
Other assetsLn 15$370
Total assetsLn 16$695K
LiabilitiesLn 26$72K
Net assetsLn 32$623K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$124K$161K
Land, buildings, equipmentLn 10c$512K$482K
Total assetsLn 16$684K$695K
LiabilitiesLn 26$92K$72K
Net assetsLn 32$592K$623K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$18K$18K
Accounting feesLn 11c$3K$3K
Office expensesLn 13$15K$15K
OccupancyLn 16$97K$97K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$30K$30K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$77K$77K
Total functional expensesLn 25$249K$249K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $432K$377K$55K$859K 990 PDF
FY2024 $344K$277K$67K$804K 990 PDF
FY2023 $323K$280K$44K$679K 990 PDF
FY2022 Not on file
FY2021 Viewing $280K$249K$30K$623K 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 FY2021 990 (6 parts)
Part I · Summary $279,862 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $279,786$279,786
I-10 Investment incomePrior year $76$76
I-11 Other revenue$0
I-12 Total revenuePrior year $279,862$279,862
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $249,404$249,404
I-18 Total expensesPrior year $249,404$249,404
I-19 Revenue less expensesPrior year $30,458$30,458
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $279,862 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $279,786$279,786
VIII-3 Investment incomeRelated to mission $76$76
VIII-12 Total revenueRelated to mission $279,862 · Unrelated business $0 · Excluded from tax $0$279,862
Part IX · Statement of functional expenses $249,404 across 8 lines filed
IX-11a Management feesPrograms $18,000$18,000
IX-11c Accounting feesPrograms $2,700$2,700
IX-13 Office expensesPrograms $15,020$15,020
IX-16 OccupancyPrograms $97,354$97,354
IX-20 InterestPrograms $2,522$2,522
IX-22 Depreciation, depletion and amortizationPrograms $30,280$30,280
IX-23 InsurancePrograms $6,033$6,033
IX-24 Other expenses (24a–d)Programs $77,495$77,495
IX-25 Total functional expensesPrograms $249,404 · Management $0 · Fundraising $0$249,404
Part X · Balance sheet $695,081 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $56,550$81,150
X-2 Savings and temporary cash investmentsStart of year $67,759$79,796
X-4 Accounts receivableStart of year $32,023$35,635
X-8 Inventories for sale or useStart of year $10,488$10,488
X-9 Prepaid expenses and deferred chargesStart of year $4,993$6,013
X-10c Land, buildings and equipment, netStart of year $511,909$481,629
X-15 Other assetsStart of year $370$370
X-16 Total assetsStart of year $684,092$695,081
X-17 Accounts payable and accrued expensesStart of year $1,260$791
X-25 Other liabilitiesStart of year $36,379$40,229
X-26 Total liabilitiesStart of year $92,431$72,362
X-32 Total net assets or fund balancesStart of year $591,661$622,719
X-33 Total liabilities and net assetsStart of year $684,092$695,081
Part XI · Reconciliation of net assets $622,719 net assets at year end
XI-1 Total revenue$279,862
XI-2 Total expenses$249,404
XI-3 Revenue less expenses$30,458
XI-4 Net assets at start of year$591,661
XI-9 Other changes in net assets$600
XI-10 Net assets at end of year$622,719

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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