Southwest Covington Utility: Nonprofit Profile, Financials & Form 990 (EIN 64-0538726)

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

James Aycock

President

$0Pt VII · Sec A

Danny Beasley

Secretary

$0Pt VII · Sec A

Thomas Shows

Vice Preside

$0Pt VII · Sec A

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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

Provides clean, affordable drinking water to rural communities.

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1 program · in their own filed words · FY2020

01

Operation of a rural water association

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$546K

Ln 12

Fees for servicesLn 2g$545K

Investment incomeLn 3$1K

Money outPt IX

$780K

Ln 25

Owns and owesPt X

$1.6M

net assets · Ln 32

Cash and savingsLn 1–2$719K

Total assetsLn 16$3.2M

LiabilitiesLn 26$1.6M

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$545K

Investment incomeLn 3$1K

Total revenueLn 12$546K

Assets in detailPt X, end of year

CashLn 1$397K

SavingsLn 2$321K

Cash and savings togetherLn 1–2$719K

Land, buildings, equipmentLn 10c$2.3M

Other assetsLn 15$378

Total assetsLn 16$3.2M

LiabilitiesLn 26$1.6M

Net assetsLn 32$1.6M

OperationsPt I, VI

EmployeesI 55

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$816K	$719K
Land, buildings, equipmentLn 10c	$2.4M	$2.3M
Total assetsLn 16	$3.3M	$3.2M
LiabilitiesLn 26	$1.6M	$1.6M
Net assetsLn 32	$1.7M	$1.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$313K
Payroll taxesLn 10	$25K
TravelLn 17	$14K
InterestLn 20	$60K
Depreciation, depletion and amortizationLn 22	$200K
Other expenses (24a–d)Ln 24	$111K
All other expensesLn 24e	$57K
Total functional expensesLn 25	$780K	$0	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2021 Latest Viewing	$546K	$780K	−$234K	$1.6M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $546,238 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $576,157$544,753

I-10 Investment incomePrior year $989$1,485

I-11 Other revenue$0

I-12 Total revenuePrior year $577,146$546,238

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $183,702$338,032

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $587,670$442,026

I-18 Total expensesPrior year $771,372$780,058

I-19 Revenue less expensesPrior year −$194,226−$233,820

Part VI · Governance 7 of 7 board members independent, 4 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members7

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 $546,238 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,970 · Excluded from tax $540,783$544,753

VIII-3 Investment incomeExcluded from tax $1,485$1,485

VIII-12 Total revenueRelated to mission $3,970 · Excluded from tax $542,268$546,238

Part IX · Statement of functional expenses $780,058 across 7 lines filed

IX-7 Other salaries and wages$313,374

IX-10 Payroll taxes$24,658

IX-17 Travel$14,158

IX-20 Interest$59,709

IX-22 Depreciation, depletion and amortization$200,212

IX-24 Other expenses (24a–d)$111,245

IX-24e All other expenses$56,702

IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$780,058

Part X · Balance sheet $3,171,856 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $410,057$397,481

X-2 Savings and temporary cash investmentsStart of year $405,449$321,086

X-4 Accounts receivableStart of year $146,788$159,014

X-9 Prepaid expenses and deferred chargesStart of year $13,270$14,157

X-10c Land, buildings and equipment, netStart of year $2,361,898$2,279,740

X-15 Other assetsStart of year $186$378

X-16 Total assetsStart of year $3,337,648$3,171,856

X-17 Accounts payable and accrued expensesStart of year $11,042$20,553

X-25 Other liabilitiesStart of year $152,698$162,104

X-26 Total liabilitiesStart of year $1,627,259$1,600,392

X-32 Total net assets or fund balancesStart of year $1,710,389$1,571,464

X-33 Total liabilities and net assetsStart of year $3,337,648$3,171,856

Part XI · Reconciliation of net assets $1,571,464 net assets at year end

XI-1 Total revenue$546,238

XI-2 Total expenses$780,058

XI-3 Revenue less expenses−$233,820

XI-4 Net assets at start of year$1,710,389

XI-9 Other changes in net assets$94,895

XI-10 Net assets at end of year$1,571,464

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

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Southwest Covington Utility

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Southwest Covington Utility

By the numbers

Filing history

Schedules filed Part IV