Overview
What is Toomsuba Water System Inc?
Toomsuba Water System Inc, based in Toomsuba, Mississippi, is a nonprofit organization dedicated to providing water services in a rural area. With a team of eight employees, they maintain and operate a water distribution system and treatment facility, claiming depreciation expenses using the straight-line method. This rural water association ensures the delivery of clean water to its customers in the region. The organization's mission is centered around supplying essential water resources to residents in a rural setting, demonstrating an ongoing commitment to community well-being.
Is Toomsuba Water System Inc legitimate?
Toomsuba Water System Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Toomsuba Water System Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $179,195
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What is the mission statement of Toomsuba Water System Inc?
Toomsuba Water System Inc, serving as a rural water association, is committed to supplying water to its customers residing in a rural area. The organization's primary mission involves maintaining and operating a water distribution system, complete with a well, treatment facility, and necessary equipment. To accomplish this, the association utilizes the straight-line method of depreciation for its infrastructure and equipment, ensuring their continuous upkeep and serviceability. In essence, Toomsuba Water System Inc is dedicated to providing reliable water services in its designated rural area.
Who is the CEO of Toomsuba Water System Inc?
Wl Barrett is the President of Toomsuba Water System Inc.
What is the revenue of Toomsuba Water System Inc?
Toomsuba Water System Inc's revenue in 2022 was $597,179.
Who are the executives of Toomsuba Water System Inc and what are their salaries?
The average compensation at Toomsuba Water System Inc during 2022 was $22,399. There are 8 employees at Toomsuba Water System Inc.
Here are 5 key members and their salaries:
- Compensation: $4,140
- Related: $0
- Other: $0
- Compensation: $540
- Related: $0
- Other: $0
- Compensation: $540
- Related: $0
- Other: $0
- Compensation: $540
- Related: $0
- Other: $0
- Compensation: $540
- Related: $0
- Other: $0
Where can I find the form 990 for Toomsuba Water System Inc?
Toomsuba Water System Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Toomsuba Water System Inc
Toomsuba Water System Inc, functioning as a rural water association, is dedicated to providing clean water to its customers residing in a rural area. This nonprofit organization's primary mission is to ensure a reliable water supply, maintaining and servicing the well, distribution system, and treatment facility. To accomplish this, Toomsuba Water System Inc employs depreciation expense, which is a strategic financial method used to account for the wear and tear of the water distribution system and necessary equipment over time. This is done using the straight-line method of depreciation, a common accounting practice that distributes the cost of an asset evenly over its useful life.
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Impact
October, 2024
Toomsuba Water System Inc plays a crucial role in delivering essential water services to the rural community of Toomsuba, Mississippi. By ensuring access to clean and reliable water, the organization significantly enhances the quality of life for its customers. The water distribution system and the associated treatment facilities are vital not only for daily living but also for promoting public health.
The financial practices of Toomsuba Water System Inc, such as the depreciation of its infrastructure, reflect a commitment to sustainable operation and maintenance of its water system. This approach allows the organization to manage resources efficiently, ensuring long-term viability and service reliability. Overall, Toomsuba Water System Inc directly supports the well-being of its community by prioritizing access to a fundamental resource—water.
This information is meant to be a general summary of Toomsuba Water System Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,847
- Program Service Revenue: $574,886
- Gross Receipts: $597,179
Assets and Liabilities:
- Total Assets: $5,673,737
- Total Liabilities: $3,043,698
- Net Assets: $2,630,039
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET WATER SALES
Revenue
$542,079
METER CHARGES AND FEES
Revenue
$18,123
PENALTIES FOR LATE PAYMENTS
Revenue
$12,609
MEMBERSHIP FEES
Revenue
$2,075
Organization Details
Founding Year
1962
Phone
(601) 632-4366Principal Officer
Wl Barrett
Main Address
PO BOX 520, TOOMSUBA, MS, 39364
NTEE Category
Code: W80 - Public benefit
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