Overview
What is Twin Lakes Canal Co?
Twin Lakes Canal Company is a nonprofit organization situated in Franklin County, Idaho. Its primary mission is to manage and distribute irrigation water to approximately 210 shareholders during the farming season. The company's operations involve paying for essential services such as ditch maintenance, pumping, and cleaning, all of which are necessary to ensure a steady water supply. With a total of 13,000 shares of stock, the organization operates as a cohesive entity dedicated to serving the agricultural needs of its shareholders in the region.
Is Twin Lakes Canal Co legitimate?
Twin Lakes Canal Co is a legitimate nonprofit organization registered as a 501(c)(12) entity. Twin Lakes Canal Co 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: $1,875
Professional Fundraising Fees: $0
Other Salaries and Wages: $117,133
For more financial information, click here
What is the mission statement of Twin Lakes Canal Co?
Twin Lakes Canal Company's mission is centered around providing irrigation water to its shareholders. During the irrigation season, they divert, store, and deliver water to approximately 210 stockholders in an undisclosed location. The company's operations include funding for ditchriders, pumping, maintenance, canal cleaning, and other related tasks. The entire operation is supported by 13,000 shares of stock. In essence, Twin Lakes Canal Company aims to ensure a reliable water supply for agricultural purposes, managing and maintaining its infrastructure to meet the needs of its shareholders.
What is the revenue of Twin Lakes Canal Co?
Twin Lakes Canal Co's revenue in 2024 was $881,242.
Who are the executives of Twin Lakes Canal Co and what are their salaries?
The average compensation at Twin Lakes Canal Co during 2024 was $23,802. There are 5 employees at Twin Lakes Canal Co.
Here are 6 key members and their salaries:
- Compensation: $11,213
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $325
- Related: $0
- Other: $0
- Compensation: $275
- Related: $0
- Other: $0
Where can I find the form 990 for Twin Lakes Canal Co?
Twin Lakes Canal Co's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Twin Lakes Canal Co
Twin Lakes Canal Company, a collective of approximately 210 stockholders, is dedicated to providing irrigation water for agricultural purposes. This mission involves the diversion, storage, and delivery of water during the irrigation season. The company's operations are funded through the revenue generated from share sales, which is then allocated towards various expenses such as ditchriders, pumping, maintenance, and canal cleaning. The entire organization is structured around 13,000 shares of stock.
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Impact
October, 2024
Twin Lakes Canal Co plays a vital role in supporting agriculture in Franklin County, Idaho, by providing essential irrigation water to approximately 210 stockholders during the irrigation season. By diverting, storing, and delivering water, the company ensures that local farms have the necessary resources for crop production, which directly impacts food supply and agricultural sustainability in the region.
The funding generated through shares and user fees is allocated for critical operations, including hiring ditchriders, maintaining infrastructure, and keeping the canals clean. This investment in maintenance and operational efficiency enhances water delivery reliability, which is crucial for farmers relying on consistent irrigation for their crops.
Additionally, with a total of 13,000 shares of stock, Twin Lakes Canal Co fosters a sense of community among its stakeholders, promoting mutual benefit and collaboration, which strengthens the agricultural economy in Weston and surrounding areas. Overall, Twin Lakes Canal Co significantly enhances agricultural productivity and fosters economic resilience within the local farming community.
This information is meant to be a general summary of Twin Lakes Canal Co. 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 2024.
- Investment Income: $24
- Program Service Revenue: $817,377
- Gross Receipts: $881,242
Assets and Liabilities:
- Total Assets: $9,845,222
- Total Liabilities: $349,904
- Net Assets: $9,495,318
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CRP PROGRAM-US DEPT OF AG
Revenue
$4,998
Membership Dues & Assessments
Revenue
$776,159
OTHER REVENUES
Revenue
$18,251
RECREATIONAL FEE CHARGES
Revenue
$17,969
Organization Details
Founding Year
1920
Principal Officer
Sheralyn Bayles
NTEE Category
Code: Y22 - Mutual benefit
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