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Devore Water Company FY2024 filing

Not tax-deductible

Sn Bernrdno, CAMutual-benefit / member-servingEIN 95-2272783Revenue $611K in FY2024

On file with the IRS18185 W Kenwood Ave, 92407-1115 · Sn Bernrdno, CATax-exempt since Feb 1946

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Mutual Water Company that maintains and develops the water system for over 400 properties.

Mission: Form 990 Part I, line 1

Before you give

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $212K a year · 36% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
18 mo
of spending, in cash
Looks good: 18.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$401K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$611K
+83% vs prior year
Spent
$598K
Net assets
$2.2M
By yearFY2021–FY2025
Revenue
$611K
FY2024▲ +83%
Tap a bar for its year
Revenue by fiscal year
FY2021$819K
FY2022$632K
FY2023$334K
FY2024$611K
FY2025$541K
Expenses
$598K
FY2024▼ -46%
Tap a bar for its year
Expenses by fiscal year
FY2021$936K
FY2022$768K
FY2023$1.1M
FY2024$598K
FY2025$596K
Net assets
$2.2M
FY2024▲ +25%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.4M
FY2022$2.2M
FY2023$1.8M
FY2024$2.2M
FY2025$2.6M

From the FY2024 Form 990 (year ending October 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1946.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
D Claflin
CFO, Secr
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2022FY2021
Mark Slobom$14,272$21,500

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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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 15aNo

Programs and updates

Maintains and develops the water system for over 400 properties.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

To supply potable water to the members

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$611K
Ln 12
Fees for servicesLn 2g$611K
Investment incomeLn 3$31
Money outPt IX
$598K
Ln 25
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$911K
Total assetsLn 16$2.6M
LiabilitiesLn 26$401K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$611K
Investment incomeLn 3$31
Total revenueLn 12$611K
Assets in detailPt X, end of year
CashLn 1$911K
Cash and savings togetherLn 1–2$911K
Land, buildings, equipmentLn 10c$1.6M
Other assetsLn 15$1K
Total assetsLn 16$2.6M
LiabilitiesLn 26$401K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 59
VolunteersI 60
Fiscal year endsHeaderOctober
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 FY24End FY24
Cash and savingsLn 1–2$653K$911K
Land, buildings, equipmentLn 10c$1.4M$1.6M
Total assetsLn 16$2.2M$2.6M
LiabilitiesLn 26$460K$401K
Net assetsLn 32$1.8M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$98K
Pension plan contributionsLn 8$300
Other employee benefitsLn 9$8K
Payroll taxesLn 10$20K
Other fees for servicesLn 11g$225K
Office expensesLn 13$15K
Information technologyLn 14$12K
TravelLn 17$552
InterestLn 20$19K
Depreciation, depletion and amortizationLn 22$84K
InsuranceLn 23$26K
Other expenses (24a–d)Ln 24$90K
Total functional expensesLn 25$598K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $541K$596K−$55K$2.6M 990 PDF
FY2024 Viewing $611K$598K$13K$2.2M 990 PDF
FY2023 $334K$1.1M−$767K$1.8M 990 PDF
FY2022 $632K$768K−$136K$2.2M 990 PDF
FY2021 $819K$936K−$117K$2.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $610,632 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $333,512$610,601
I-10 Investment incomePrior year $246$31
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $333,758$610,632
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $409,870$126,272
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $691,327$471,462
I-18 Total expensesPrior year $1,101,197$597,734
I-19 Revenue less expensesPrior year −$767,439$12,898
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $610,632 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $610,601$610,601
VIII-3 Investment incomeRelated to mission $31$31
VIII-12 Total revenueRelated to mission $610,632 · Unrelated business $0 · Excluded from tax $0$610,632
Part IX · Statement of functional expenses $597,734 across 12 lines filed
IX-7 Other salaries and wages$97,971
IX-8 Pension plan contributions$300
IX-9 Other employee benefits$8,317
IX-10 Payroll taxes$19,684
IX-11g Other fees for services$225,036
IX-13 Office expenses$15,437
IX-14 Information technology$11,855
IX-17 Travel$552
IX-20 Interest$19,485
IX-22 Depreciation, depletion and amortization$83,725
IX-23 Insurance$25,575
IX-24 Other expenses (24a–d)$89,797
IX-25 Total functional expenses$597,734
Part X · Balance sheet $2,610,872 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $653,370$910,749
X-4 Accounts receivableStart of year $113,795$100,372
X-9 Prepaid expenses and deferred chargesStart of year $10,775$11,075
X-10c Land, buildings and equipment, netStart of year $1,449,683$1,587,676
X-15 Other assets$1,000
X-16 Total assetsStart of year $2,227,623$2,610,872
X-26 Total liabilitiesStart of year $459,999$401,403
X-32 Total net assets or fund balancesStart of year $1,767,624$2,209,469
X-33 Total liabilities and net assetsStart of year $2,227,623$2,610,872
Part XI · Reconciliation of net assets $2,209,469 net assets at year end
XI-1 Total revenue$610,632
XI-2 Total expenses$597,734
XI-3 Revenue less expenses$12,898
XI-4 Net assets at start of year$1,767,624
XI-9 Other changes in net assets$428,948
XI-10 Net assets at end of year$2,209,469

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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