Western Dakota Regional Water System INC EIN 88-0625032

Western Dakota Regional Water System INC

EIN  88-0625032 Mutual-benefit / member-serving Rapid City, SD
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 9/11/26 · see original filing: IRS
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Size
$1–10M
What they do
Delivers Missouri River water to members via pipelines and facilities.
Leadership
Cheryl Chapman · Executive Director · $91K
Money in and out
$2.0M revenue, $426K expenses
Bottom line
+78% surplus margin

Delivers Missouri River water to members via pipelines and facilities. For fiscal year 2024 it reported $2.0M in revenue, $426K in expenses, and $3.2M in net assets.Pt I

Reported financial activity · FY2024
Total revenue
$2.0M
Pt VIII · Ln 12
Total expenses
$426K
Pt IX · Ln 25
Net assets
$3.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.5M
Surplus margin
+78%
revenue over expenses, this year▲ +8% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$2.0M
FY2024▼ -11%
Expenses
$426K
FY2024▼ -29%
Total assets
$3.2M
FY2024▲ +91%
Total liabilities
$0
FY2024
Total revenue
$2.0M
Pt VIII · Ln 12
Total expenses
$426K
Pt IX · Ln 25
Net assets
$3.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$1.5M
Total assetsPt X · Ln 16$3.2M
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

Western dakota regional water system constructs, operates, and maintains a water system for its members

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWestern Dakota Regional Water System INC
EINHdr · item D88-0625032
Principal addressHdr · item CRapid City, SD
WebsiteHdr · item Jwdrws.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MSD
Exempt statusHdr · item I501(c)(12) · active
NTEE classificationIRS BMFPublic & Societal Benefit (W80)
Ruling yearIRS BMFOct 2023

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$91,350Pt VII · Sec A
Secretary Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Cheryl Chapman’s $91K as Executive Director is at the 19th percentile of top reported officer pay among 731 $1–10M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022
Cheryl Chapman$91,350$14,280$52,206

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants100%$2.0M
— government grantsLn 1e$1.9M
Total revenueLn 12$2.0M

Balance Sheet

Part X · end of year
CashLn 1$241K
Total assetsLn 16$3.2M
Total liabilitiesLn 26$0
Total net assetsLn 32$3.2M
Months of cash on handcomputed6.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $241K · Operating expenses/yr $426K
6.8 months
Where the money goes
Program services
Program services — · Total expenses $426K
Management & General
Management & general — · Total expenses $426K
Fundraising
Fundraising — · Total expenses $426K
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $2.0M · Total revenue $2.0M
100%
Government reliance
Government grants $1.9M · Total revenue $2.0M
96%
Earned-income share
Program service revenue $0 · Total revenue $2.0M
0%
Investment reliance
Investment income $0 · Total revenue $2.0M
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $426K
0%
Growth & trend
Revenue growth (YoY)
This year $2.0M · Prior year $2.2M
-11%
Net-asset trend (YoY)
End of year $3.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.0M · Expenses $426K
+78%
Liabilities-to-Assets
Total liabilities — · Total assets $3.2M
Net-asset ratio
Net assets $3.2M · Total assets $3.2M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Cheryl Chapman · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $91K · Total expenses $426K
21%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $146K · Total expenses $426K
34%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Fundraising cost ratio 0%
Revenue growth -11%
Accounting fee ratio 17%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$25K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.0M revenue · viewing · ⤓ 990 PDF
FY2023$2.2M revenue · ⤓ 990 PDF
FY2022$184K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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