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Marshall County Water Coproration FY2020 filing

Madill, OKUnknown exempt organization EIN 73-0939020Revenue $3.7M in FY2020

On file with the IRSPo Box 688 · Madill, OK

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The corporation provides a waterworks distribution system for its members.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
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
5 of 5
filings with a surplus
Average surplus $566K a year · 15% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11.4M
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.7M
Spent
$3.4M
To programs
0%
Net assets
$12.0M
By yearFY2020–FY2024
Revenue
$3.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.7M
FY2021$4.4M
FY2022$5.2M
FY2023$5.7M
FY2024$0
Expenses
$3.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$3.4M
FY2021$4.0M
FY2022$4.1M
FY2023$4.8M
FY2024$0
Net assets
$12.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$12.0M
FY2021$12.5M
FY2022$13.6M
FY2023$14.5M
FY2024$0

From the FY2020 Form 990 (year ending June 2020) · see the original

990 PDF Claim
You’re viewing the FY2020 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
William Bain
Secretary/Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Donnie Huffman
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chris Webb
Chairman
$0Pt VII · Sec A
See Marshall County Water Coproration 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

Distributes waterworks systems to members.

Questions for Marshall County Water Coproration

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Provided by the organization

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1 program · in their own filed words · FY2019
01

To provide water services to its members.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.7M
Ln 12
Fees for servicesLn 2g$3.5M
Gifts and grantsLn 1h$223K
Investment incomeLn 3$31K
Money outPt IX
$3.4M
Ln 25
Owns and owesPt X
$12.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$23.4M
LiabilitiesLn 26$11.4M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$223K
Fees for servicesLn 2g$3.5M
Investment incomeLn 3$31K
Total revenueLn 12$3.7M
Assets in detailPt X, end of year
CashLn 1$1.6M
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$3.0M
InvestmentsLn 11–13$5K
Land, buildings, equipmentLn 10c$19.8M
Total assetsLn 16$23.4M
LiabilitiesLn 26$11.4M
Net assetsLn 32$12.0M
OperationsPt I, VI
EmployeesI 50
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 FY20End FY20
Cash and savingsLn 1–2$2.8M$3.0M
InvestmentsLn 11–13$5K$5K
Land, buildings, equipmentLn 10c$20.5M$19.8M
Total assetsLn 16$23.8M$23.4M
LiabilitiesLn 26$12.1M$11.4M
Net assetsLn 32$11.7M$12.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$529K
Pension plan contributionsLn 8$28K
Other employee benefitsLn 9$108K
Payroll taxesLn 10$41K
Legal feesLn 11b$12K
Accounting feesLn 11c$10K
Other fees for servicesLn 11g$110K
Advertising and promotionLn 12$1K
Office expensesLn 13$59K
Information technologyLn 14$103K
OccupancyLn 16$151K
TravelLn 17$3K
InterestLn 20$434K
InsuranceLn 23$87K
Other expenses (24a–d)Ln 24$1.5M
All other expensesLn 24e$201K
Total functional expensesLn 25$3.4M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$0$0$0 990 PDF
FY2023 $5.7M$4.8M$933K$14.5M 990 PDF
FY2022 $5.2M$4.1M$1.1M$13.6M 990 PDF
FY2021 $4.4M$4.0M$465K$12.5M 990 PDF
FY2020 Viewing $3.7M$3.4M$357K$12.0M 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 FY2020 990 (6 parts)
Part I · Summary $3,746,789 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $229,847$223,436
I-9 Program service revenuePrior year $3,328,019$3,492,687
I-10 Investment incomePrior year $33,703$30,666
I-11 Other revenue$0
I-12 Total revenuePrior year $3,591,569$3,746,789
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $690,142$706,686
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,628,270$2,683,054
I-18 Total expensesPrior year $3,318,412$3,389,740
I-19 Revenue less expensesPrior year $273,157$357,049
Part VI · Governance 7 of 7 board members independent, 3 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-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,746,789 across 5 lines filed
VIII-1b Membership dues$223,436
VIII-1h Total contributions, gifts and grants$223,436
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,492,687$3,492,687
VIII-3 Investment incomeExcluded from tax $30,666$30,666
VIII-12 Total revenueRelated to mission $3,492,687 · Excluded from tax $30,666$3,746,789
Part IX · Statement of functional expenses $3,389,740 across 16 lines filed
IX-7 Other salaries and wages$529,017
IX-8 Pension plan contributions$28,125
IX-9 Other employee benefits$108,387
IX-10 Payroll taxes$41,157
IX-11b Legal fees$12,495
IX-11c Accounting fees$10,335
IX-11g Other fees for services$110,052
IX-12 Advertising and promotion$1,204
IX-13 Office expenses$59,437
IX-14 Information technology$103,304
IX-16 Occupancy$151,448
IX-17 Travel$3,362
IX-20 Interest$434,361
IX-23 Insurance$87,180
IX-24 Other expenses (24a–d)$1,508,771
IX-24e All other expenses$201,105
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$3,389,740
Part X · Balance sheet $23,406,358 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,402,982$1,567,348
X-2 Savings and temporary cash investmentsStart of year $1,407,099$1,420,449
X-4 Accounts receivableStart of year $272,927$378,941
X-8 Inventories for sale or useStart of year $118,858$111,843
X-9 Prepaid expenses and deferred chargesStart of year $70,536$79,274
X-10c Land, buildings and equipment, netStart of year $20,475,632$19,843,303
X-11 Publicly traded securitiesStart of year $5,220$5,200
X-16 Total assetsStart of year $23,753,254$23,406,358
X-17 Accounts payable and accrued expensesStart of year $126,728$123,206
X-26 Total liabilitiesStart of year $12,067,869$11,363,924
X-27 Net assets without donor restrictionsStart of year $11,113,016$11,378,570
X-28 Net assets with donor restrictionsStart of year $572,369$663,864
X-32 Total net assets or fund balancesStart of year $11,685,385$12,042,434
X-33 Total liabilities and net assetsStart of year $23,753,254$23,406,358
Part XI · Reconciliation of net assets $12,042,434 net assets at year end
XI-1 Total revenue$3,746,789
XI-2 Total expenses$3,389,740
XI-3 Revenue less expenses$357,049
XI-4 Net assets at start of year$11,685,385
XI-10 Net assets at end of year$12,042,434

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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