Overview
What is Lincoln Culinary Water Corp?
Lincoln Culinary Water Corp is a nonprofit organization situated in Lincoln, Utah. Established with the mission to serve the community, it provides culinary water. In 2021, the corporation underwent significant capital improvements, which continued into 2022, including constructing a new well. To fund these improvements, they secured a loan of $1,510,000 from the Utah State Division of Finance, using the loan proceeds to pay off an existing US Bank loan and fund the new well and well line connection. The corporation also reduced its outstanding loan balances in 2021. The corporation operates as a not-for-profit enterprise, dedicated to supplying essential water resources to the residents of Lincoln, Utah.
Is Lincoln Culinary Water Corp legitimate?
Lincoln Culinary Water Corp is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lincoln Culinary Water Corp 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: $0
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What is the mission statement of Lincoln Culinary Water Corp?
The Lincoln Culinary Water Corp is established as a not-forprofit enterprise, dedicated to providing culinary water to a community. In 2021, the corporation underwent substantial capital improvements, which continued into 2022, involving the construction of a new well. To finance these improvements, the corporation secured a loan of $1,510,000 from the Utah State Division of Finance, utilizing the funds to settle an existing loan and invest in the new well and its connection. Moreover, in 2021, the corporation made significant principal payments on its outstanding loans. The organization's primary focus remains on serving its community by providing high-quality culinary water.
Who is the CEO of Lincoln Culinary Water Corp?
Bret Nicholson is the President of Lincoln Culinary Water Corp.
What is the revenue of Lincoln Culinary Water Corp?
Lincoln Culinary Water Corp's revenue in 2022 was $186,526.
Who are the executives of Lincoln Culinary Water Corp and what are their salaries?
There 4 volunteers at Lincoln Culinary Water Corp.
Here are 3 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Lincoln Culinary Water Corp?
Lincoln Culinary Water Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lincoln Culinary Water Corp
Lincoln Culinary Water Corp, a not-for-profit enterprise, is established with the purpose of providing culinary water to its community. This organization is dedicated to meeting the water needs of its residents, ensuring the availability of clean and suitable water for cooking and other domestic uses. The corporation's mission is centered around the provision of essential water services, thereby contributing to the overall well-being and daily life of its community members.
In 2021, Lincoln Culinary Water Corp undertook significant capital improvements, which continued into the following year. This included contracting, engineering, and building a new well. To fund these improvements, the corporation secured a loan of $1,510,000.00 from the Utah State Division of Finance. The proceeds from this loan were utilized to pay off an existing loan with US Bank and provide capital for the construction of the new well and well line connection. This illustrates the corporation's commitment to maintaining and improving its water infrastructure, ensuring the continued supply of culinary water to its community.
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Impact
October, 2024
Lincoln Culinary Water Corp significantly impacts the Lincoln, Utah community by providing essential culinary water. In recent years, the organization has made notable capital improvements, including the construction of a new well, which enhances the reliability and quality of water supply for residents.
In 2021, the corporation took a strategic financial approach by securing a $1.51 million loan from the Utah State Division of Finance. This funding not only facilitated the payoff of a previous loan but also provided vital capital to support the development of the new well and its connection infrastructure. Furthermore, the corporation demonstrated a commitment to financial responsibility by actively paying down existing loan principal, which strengthens its fiscal health and sustainability.
These efforts ensure that the community of Lincoln has access to reliable and safe culinary water, fostering public health and supporting local growth.
This information is meant to be a general summary of Lincoln Culinary Water Corp. 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: $371
- Program Service Revenue: $186,155
- Gross Receipts: $186,526
Assets and Liabilities:
- Total Assets: $4,036,344
- Total Liabilities: $1,707,976
- Net Assets: $2,328,368
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Shareholder Dues
Revenue
$186,155
Organization Details
Founding Year
1937
Principal Officer
Bret Nicholson
Main Address
1631 East Pine Canyon Road, Tooele, UT, 84074
NTEE Category
Code: W80 - Public benefit
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