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Goodwill Water System INC FY2023 filing

Not tax-deductible

Oak Grove, LAMutual-benefit / member-servingMutual/MembershipEIN 72-0762711Revenue $394K in FY2023

On file with the IRS3342 Highway 2, 71263-9031 · Oak Grove, LATax-exempt since Nov 2002

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Provide water service to members

Mission: Form 990 Part I, line 1

Before you give

FY2023 · 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
2 of 3
filings with a surplus
Average surplus $23K a year · 6% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$270K
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$394K
+31% vs prior year
Spent
$395K
To programs
0%
Net assets
$670K
By yearFY2022–FY2024
Revenue
$394K
FY2023▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2022$301K
FY2023$394K
FY2024$364K
Expenses
$395K
FY2023▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2022$293K
FY2023$395K
FY2024$304K
Net assets
$670K
FY2023▼ -0.7%
Tap a bar for its year
Net assets by fiscal year
FY2022$675K
FY2023$670K
FY2024$731K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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 2002.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Larry Drury
Director
$0Pt VII · Sec A
J C Strong
Director
$0Pt VII · Sec A
Paul Young
Director
$0Pt VII · Sec A
See Goodwill Water System 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 15aNo

Programs and updates

Delivers clean water services to its members.

Questions for Goodwill Water System INC

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Provided by the organization

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1 program · $376K · in their own filed words · FY2023
01

Provided water service to approximately 632 members.

$376Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$394K
Ln 12
Fees for servicesLn 2g$298K
Gifts and grantsLn 1h$94K
Investment incomeLn 3$1K
Money outPt IX
$395K
Ln 25
Owns and owesPt X
$670K
net assets · Ln 32
Cash and savingsLn 1–2$312K
Total assetsLn 16$941K
LiabilitiesLn 26$270K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$94K
Government grantsLn 1e$94K
Fees for servicesLn 2g$298K
Investment incomeLn 3$1K
Total revenueLn 12$394K
Assets in detailPt X, end of year
CashLn 1$190K
SavingsLn 2$122K
Cash and savings togetherLn 1–2$312K
Land, buildings, equipmentLn 10c$611K
Total assetsLn 16$941K
LiabilitiesLn 26$270K
Net assetsLn 32$670K
OperationsPt I, VI
EmployeesI 53
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 FY23End FY23
Cash and savingsLn 1–2$244K$312K
Land, buildings, equipmentLn 10c$694K$611K
Total assetsLn 16$962K$941K
LiabilitiesLn 26$288K$270K
Net assetsLn 32$675K$670K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$94K
Payroll taxesLn 10$7K
Accounting feesLn 11c$1K
Advertising and promotionLn 12$414
Office expensesLn 13$7K
TravelLn 17$19K
InterestLn 20$19K
Depreciation, depletion and amortizationLn 22$85K
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$147K
All other expensesLn 24e$3K
Total functional expensesLn 25$395K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $364K$304K$61K$731K 990 PDF
FY2023 Viewing $394K$395K−$992$670K 990 PDF
FY2022 $301K$293K$9K$675K 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 FY2023 990 (6 parts)
Part I · Summary $393,970 revenue, 12 lines filed
I-8 Contributions and grants$94,500
I-9 Program service revenuePrior year $300,950$298,188
I-10 Investment incomePrior year $193$1,282
I-11 Other revenue$0
I-12 Total revenuePrior year $301,143$393,970
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $100,522$101,652
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $192,001$293,310
I-18 Total expensesPrior year $292,523$394,962
I-19 Revenue less expensesPrior year $8,620−$992
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $393,970 across 6 lines filed
VIII-1e Government grants$94,500
VIII-1h Total contributions, gifts and grants$94,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $298,188$298,188
VIII-3 Investment incomeRelated to mission $1,282$1,282
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $299,470$393,970
Part IX · Statement of functional expenses $394,962 across 11 lines filed
IX-7 Other salaries and wages$94,310
IX-10 Payroll taxes$7,342
IX-11c Accounting fees$1,040
IX-12 Advertising and promotion$414
IX-13 Office expenses$7,183
IX-17 Travel$18,594
IX-20 Interest$19,427
IX-22 Depreciation, depletion and amortization$84,516
IX-23 Insurance$12,456
IX-24 Other expenses (24a–d)$146,791
IX-24e All other expenses$2,889
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$394,962
Part X · Balance sheet $940,579 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $123,021$189,711
X-2 Savings and temporary cash investmentsStart of year $121,213$122,495
X-4 Accounts receivableStart of year $24,334$17,732
X-10c Land, buildings and equipment, netStart of year $693,841$610,641
X-16 Total assetsStart of year $962,409$940,579
X-17 Accounts payable and accrued expensesStart of year $5,033$8,279
X-25 Other liabilitiesStart of year $61,500$63,300
X-26 Total liabilitiesStart of year $287,741$270,359
X-27 Net assets without donor restrictionsStart of year $674,668$670,220
X-32 Total net assets or fund balancesStart of year $674,668$670,220
X-33 Total liabilities and net assetsStart of year $962,409$940,579
Part XI · Reconciliation of net assets $670,220 net assets at year end
XI-1 Total revenue$393,970
XI-2 Total expenses$394,962
XI-3 Revenue less expenses−$992
XI-4 Net assets at start of year$674,668
XI-8 Prior period adjustments−$3,456
XI-10 Net assets at end of year$670,220

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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