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Panaca Farmstead Association FY2023 filing

Not tax-deductible

Panaca, NVMutual-benefit / member-servingEIN 88-0109920Revenue $447K in FY2023

On file with the IRSPo Box 597, 89042-0597 · Panaca, NVTax-exempt since Feb 1973

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Advancement of state and local interest for the purpose of providing essential human services.

Mission: Form 990 Part I, line 1

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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
4 of 5
filings with a surplus
Average surplus $21K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 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
16 mo
of spending, in cash
Looks good: 16.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$17K
0.5% of total assets
Looks good: liabilities are 0% 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
$447K
+4% vs prior year
Spent
$434K
To programs
0%
Net assets
$3.3M
By yearFY2020–FY2024
Revenue
$447K
FY2023▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$442K
FY2021$418K
FY2022$429K
FY2023$447K
FY2024$458K
Expenses
$434K
FY2023▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$395K
FY2021$425K
FY2022$397K
FY2023$434K
FY2024$440K
Net assets
$3.3M
FY2023+0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2M
FY2021$3.2M
FY2022$3.3M
FY2023$3.3M
FY2024$3.3M

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 Feb 1973.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Michael Anderson
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Rich Hansen
Board Member
$0Pt VII · Sec A
Eric Holt
Vice Preside
$0Pt VII · Sec A
Kim Lee
Secretary/Tr
$0Pt VII · Sec A
See Panaca Farmstead Association 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

Advocates for state and local needs, providing essential human services.

Questions for Panaca Farmstead Association

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Installation, maintenance and operation of a water supply, distribution lines and service lines to members of the association. Installation, maintenance and operation of sewer services to members.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$447K
Ln 12
Fees for servicesLn 2g$411K
Other incomeLn 4–11$24K
Investment incomeLn 3$12K
Money outPt IX
$434K
Ln 25
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$580K
Total assetsLn 16$3.3M
LiabilitiesLn 26$17K
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$411K
Investment incomeLn 3$12K
Other incomeLn 4–11$24K
Total revenueLn 12$447K
Assets in detailPt X, end of year
CashLn 1$11K
SavingsLn 2$569K
Cash and savings togetherLn 1–2$580K
Land, buildings, equipmentLn 10c$2.6M
Total assetsLn 16$3.3M
LiabilitiesLn 26$17K
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$496K$580K
Land, buildings, equipmentLn 10c$2.7M$2.6M
Total assetsLn 16$3.3M$3.3M
LiabilitiesLn 26$13K$17K
Net assetsLn 32$3.3M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$138K
Pension plan contributionsLn 8$5K
Payroll taxesLn 10$13K
Office expensesLn 13$20K
TravelLn 17$616
InterestLn 20$39
Depreciation, depletion and amortizationLn 22$128K
InsuranceLn 23$22K
Other expenses (24a–d)Ln 24$91K
All other expensesLn 24e$18K
Total functional expensesLn 25$434K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $458K$440K$18K$3.3M 990 PDF
FY2023 Viewing $447K$434K$13K$3.3M 990 PDF
FY2022 $429K$397K$32K$3.3M 990 PDF
FY2021 $418K$425K−$7K$3.2M 990 PDF
FY2020 $442K$395K$47K$3.2M 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 FY2023 990 (6 parts)
Part I · Summary $447,174 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $412,487$411,127
I-10 Investment incomePrior year $957$11,596
I-11 Other revenuePrior year $15,401$24,451
I-12 Total revenuePrior year $428,845$447,174
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $150,937$155,211
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $246,016$279,084
I-18 Total expensesPrior year $396,953$434,295
I-19 Revenue less expensesPrior year $31,892$12,879
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $447,174 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $411,127$411,127
VIII-3 Investment incomeRelated to mission $11,596$11,596
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,751 · Unrelated business $13,700$24,451
VIII-12 Total revenueRelated to mission $433,474 · Unrelated business $13,700$447,174
Part IX · Statement of functional expenses $434,295 across 10 lines filed
IX-7 Other salaries and wages$137,709
IX-8 Pension plan contributions$4,714
IX-10 Payroll taxes$12,788
IX-13 Office expenses$19,519
IX-17 Travel$616
IX-20 Interest$39
IX-22 Depreciation, depletion and amortization$127,763
IX-23 Insurance$21,565
IX-24 Other expenses (24a–d)$91,294
IX-24e All other expenses$18,288
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$434,295
Part X · Balance sheet $3,282,634 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $14,778$10,946
X-2 Savings and temporary cash investmentsStart of year $481,646$569,374
X-4 Accounts receivableStart of year $25,006$27,734
X-8 Inventories for sale or useStart of year $51,266$49,768
X-9 Prepaid expenses and deferred chargesStart of year $5,200$4,851
X-10c Land, buildings and equipment, netStart of year $2,688,542$2,619,961
X-16 Total assetsStart of year $3,266,438$3,282,634
X-17 Accounts payable and accrued expensesStart of year $4,631$6,244
X-25 Other liabilitiesStart of year $8,677$10,381
X-26 Total liabilitiesStart of year $13,308$16,625
X-32 Total net assets or fund balancesStart of year $3,253,130$3,266,009
X-33 Total liabilities and net assetsStart of year $3,266,438$3,282,634
Part XI · Reconciliation of net assets $3,266,009 net assets at year end
XI-1 Total revenue$447,174
XI-2 Total expenses$434,295
XI-3 Revenue less expenses$12,879
XI-4 Net assets at start of year$3,253,130
XI-10 Net assets at end of year$3,266,009

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

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