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Marshall County Water Coproration FY2022 filing

Madill, OKUnknown exempt organization EIN 73-0939020Revenue $5.2M in FY2022Latest return filed May 13, 2025

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

FY2022 · 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
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$9.8M
42% of total assets
Looks good: liabilities are 42% 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
$5.2M
+18% vs prior year
Spent
$4.1M
To programs
0%
Net assets
$13.6M
By yearFY2020–FY2024
Revenue
$5.2M
FY2022▲ +18%
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
$4.1M
FY2022▲ +5%
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
$13.6M
FY2022▲ +9%
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 FY2022 Form 990 (year ending June 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 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 (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Thomas Herndon
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jay Porter
Chairman
$0Pt VII · Sec A
Chris Webb
Secretary/Tr
$0Pt VII · Sec A
See Marshall County Water Coproration executive salaries →

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

Tap to ask. Marshall County Water Coproration sees how many people are interested.

Your first name shows with your question. Marshall County Water Coproration answers here, for everyone.

1 program · in their own filed words · FY2021
01

To provide water services to its members.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$5.2M
Ln 12
Fees for servicesLn 2g$4.6M
Gifts and grantsLn 1h$663K
Investment incomeLn 3$5K
Money outPt IX
$4.1M
Ln 25
Owns and owesPt X
$13.6M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$23.4M
LiabilitiesLn 26$9.8M
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$663K
Government grantsLn 1e$300K
Fees for servicesLn 2g$4.6M
Investment incomeLn 3$5K
Total revenueLn 12$5.2M
Assets in detailPt X, end of year
CashLn 1$2.7M
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$5K
Land, buildings, equipmentLn 10c$19.7M
Total assetsLn 16$23.4M
LiabilitiesLn 26$9.8M
Net assetsLn 32$13.6M
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 FY22End FY22
Cash and savingsLn 1–2$2.6M$2.7M
InvestmentsLn 11–13$5K$5K
Land, buildings, equipmentLn 10c$19.7M$19.7M
Total assetsLn 16$23.2M$23.4M
LiabilitiesLn 26$10.7M$9.8M
Net assetsLn 32$12.5M$13.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$679K
Pension plan contributionsLn 8$35K
Other employee benefitsLn 9$146K
Payroll taxesLn 10$53K
Legal feesLn 11b$16K
Accounting feesLn 11c$11K
Other fees for servicesLn 11g$109K
Advertising and promotionLn 12$960
Office expensesLn 13$54K
Information technologyLn 14$132K
OccupancyLn 16$224K
TravelLn 17$227
InterestLn 20$392K
InsuranceLn 23$86K
Other expenses (24a–d)Ln 24$2.0M
All other expensesLn 24e$247K
Total functional expensesLn 25$4.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS May 13, 2025 $0$0$0$0 990 PDF
FY2023Filed with the IRS Mar 28, 2024 $5.7M$4.8M$933K$14.5M 990 PDF
FY2022 ViewingFiled with the IRS May 6, 2023 $5.2M$4.1M$1.1M$13.6M 990 PDF
FY2021Filed with the IRS Mar 14, 2022 $4.4M$4.0M$465K$12.5M 990 PDF
FY2020Filed with the IRS Mar 25, 2021 $3.7M$3.4M$357K$12.0M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $5,221,218 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $290,931$663,298
I-9 Program service revenuePrior year $4,124,502$4,553,066
I-10 Investment incomePrior year $13,825$4,854
I-11 Other revenue$0
I-12 Total revenuePrior year $4,429,258$5,221,218
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $886,891$912,201
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,077,628$3,236,111
I-18 Total expensesPrior year $3,964,519$4,148,312
I-19 Revenue less expensesPrior year $464,739$1,072,906
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 $5,221,218 across 6 lines filed
VIII-1b Membership dues$363,299
VIII-1e Government grants$299,999
VIII-1h Total contributions, gifts and grants$663,298
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,553,066$4,553,066
VIII-3 Investment incomeExcluded from tax $4,854$4,854
VIII-12 Total revenueRelated to mission $4,553,066 · Excluded from tax $4,854$5,221,218
Part IX · Statement of functional expenses $4,148,312 across 16 lines filed
IX-7 Other salaries and wages$678,521
IX-8 Pension plan contributions$35,350
IX-9 Other employee benefits$145,592
IX-10 Payroll taxes$52,738
IX-11b Legal fees$16,106
IX-11c Accounting fees$11,175
IX-11g Other fees for services$109,214
IX-12 Advertising and promotion$960
IX-13 Office expenses$54,297
IX-14 Information technology$131,974
IX-16 Occupancy$223,977
IX-17 Travel$227
IX-20 Interest$392,138
IX-23 Insurance$86,052
IX-24 Other expenses (24a–d)$1,962,824
IX-24e All other expenses$247,167
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$4,148,312
Part X · Balance sheet $23,354,926 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,634,226$2,710,440
X-3 Pledges and grants receivable$299,999
X-4 Accounts receivableStart of year $341,552$430,239
X-8 Inventories for sale or useStart of year $125,108$133,725
X-9 Prepaid expenses and deferred chargesStart of year $80,872$82,760
X-10c Land, buildings and equipment, netStart of year $19,730,616$19,692,543
X-11 Publicly traded securitiesStart of year $5,220$5,220
X-16 Total assetsStart of year $23,212,707$23,354,926
X-17 Accounts payable and accrued expensesStart of year $176,355$207,943
X-19 Deferred revenue$25,586
X-26 Total liabilitiesStart of year $10,705,534$9,774,847
X-27 Net assets without donor restrictionsStart of year $12,212,060$13,580,079
X-32 Total net assets or fund balancesStart of year $12,507,173$13,580,079
X-33 Total liabilities and net assetsStart of year $23,212,707$23,354,926
Part XI · Reconciliation of net assets $13,580,079 net assets at year end
XI-1 Total revenue$5,221,218
XI-2 Total expenses$4,148,312
XI-3 Revenue less expenses$1,072,906
XI-4 Net assets at start of year$12,507,173
XI-10 Net assets at end of year$13,580,079

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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