Homestead Water Association

EIN 92-1586669 Mutual-benefit / member-serving Morton, MS

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Size

$100K–1M

What they do

Brings clean water to rural Scott County residents.

Leadership

Jimmy Nutt · President

Money in and out

$397K revenue, $313K expenses

Bottom line

+21% surplus margin

Brings clean water to rural Scott County residents. For fiscal year 2025 it reported $397K in revenue, $313K in expenses, and $339K in net assets.Pt I

Reported financial activity · FY2025

Total revenue

$397K

Pt VIII · Ln 12

Total expenses

$313K

Pt IX · Ln 25

Net assets

$339K

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $84K

Where spending went · Part IX cols B–D

100%

Program services $1.00

Surplus margin

+21%

revenue over expenses, this year▼ -49% vs prior filing year

Program spending

100%

of expenses reach programs0% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990

Revenue

$397K

FY2025▲ +8%

Expenses

$313K

FY2025▲ +45%

Total assets

$683K

FY2025▲ +11%

Total liabilities

$344K

FY2025▼ -4%

Total revenue

$397K

Pt VIII · Ln 12

Total expenses

$313K

Pt IX · Ln 25

Net assets

$339K

Pt X · Ln 32

Revenue less expensesPt I · Ln 19$84K

Total assetsPt X · Ln 16$683K

Program-expense ratioPt IX · col B100%

Voting members of governing bodyPt I · Ln 33

Independent voting membersPt I · Ln 43

Mission & Programs · Part III

Where the work happens

1 program service account for $313K of program spending, described in the organization's own filed words · FY2024.

To provide water services to rural scott county MS

$313Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File

Legal nameHdr · item CHomestead Water Association

EINHdr · item D92-1586669

Principal addressHdr · item CMorton, MS

WebsiteHdr · item Jnone reported

Year of formationHdr · item Lpending

State of legal domicileHdr · item MMS

Exempt statusHdr · item I501(c)(12) · active

NTEE classificationIRS BMFPublic & Societal Benefit (W80)

Ruling yearIRS BMFJan 2023

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a3

Independent voting membersPt VI · Ln 1b3

Conflict-of-interest policyPt VI · Ln 12aNo

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14No

CEO/top-official compensation independently reviewedPt VI · Ln 15aNo

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Jimmy Nutt

President

$0Pt VII · Sec A

Dan Cooper

Vice President

$0Pt VII · Sec A

Scott Myrick

Secretarytreasurer

$0Pt VII · Sec A

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Statement of Revenue

Part VIII

Program service revenue100%$397K

Investment income$565

Total revenueLn 12$397K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

100%

Program services $1.00

Program services100%$313K

Total functional expensesLn 25$313K

Balance Sheet

Part X · end of year

CashLn 1$247K

Total assetsLn 16$683K

Total liabilitiesLn 26$344K

Total net assetsLn 32$339K

Months of cash on handcomputed9.5

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $247K · Operating expenses/yr $313K

9.5 months

Where the money goes

Program services

Program services $313K · Total expenses $313K

100%

Management & General

Management & general $0 · Total expenses $313K

Fundraising

Fundraising $0 · Total expenses $313K

Cost to raise $1

Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $0 · Total revenue $397K

Government reliance

Government grants — · Total revenue $397K

—

Earned-income share

Program service revenue $397K · Total revenue $397K

100%

Investment reliance

Investment income $565 · Total revenue $397K

Program self-sufficiency

Program service revenue $397K · Total expenses $313K

127%

Growth & trend

Revenue growth (YoY)

This year $397K · Prior year $368K

+8%

Net-asset trend (YoY)

End of year $339K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $397K · Expenses $313K

+21%

Liabilities-to-Assets

Total liabilities — · Total assets $683K

—

Net-asset ratio

Net assets $339K · Total assets $683K

50%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $683K

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual Jimmy Nutt · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $313K

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $313K

—

Peer comparison

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

Metric	This org	Peer median	Percentile
Program ratio	100%	—	—
Overhead ratio	0%	—	—
Revenue growth	8%	—	—

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.

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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

FY2025 (Latest)$397K revenue · viewing · ⤓ 990 PDF

FY2024$368K revenue · ⤓ 990 PDF

FY2023$156K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2025IRS

Classification, formation year, addressIRS Business Master File

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