2024-08-07T23:49:10-05:00 2023-12-31 720398470 HEARD MCELROY & VESTAL LLC 333 TEXAS STREET SUITE 1525 SHREVEPORT LA 71101 990 2023-01-01 751712151 LEIGH WATER SUPPLY CORPORATION LEIG 9039271075 P O BOX 760 SCOTTSVILLE TX 75688 CARL SHELTON PRESIDENT 9036793104 2024-07-26 1 1 JENNIFER M HILL P00712786 3184291525 2024-07-26 2023 2024-08-08 14:25:15Z CARL SHELTON P O BOX 760 SCOTTSVILLE TX 75688 1694494 0 X WWW.LEIGHWSC.MYRURALWATER.COM X 1977 TX THE ORGANIZATION PROVIDES WATER SERVICES TO RURAL COMMUNITY MEMBERS. 4 4 9 4 0 0 220000 4200 1481874 1661971 7402 2561 3516 13328 1712792 1682060 0 0 0 0 355862 411786 0 0 0 1165300 1289122 1521162 1700908 191630 -18848 6822074 6815999 4375042 4387815 2447032 2428184 THE ORGANIZATION PROVIDES WATER SERVICES TO RURAL COMMUNITY MEMBERS. 0 0 LEIGH WATER SUPPLY PROVIDES WATER SERVICES TO THE RURAL COMMUNITY IN KARNACK, TEXAS AND THE SURROUNDING AREA. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 9 1 0 0 0 0 0 0 0 0 0 1666171 15889 0 0 0 X 4 4 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 X WILLIAM POWER 9036793140 2121 FM 1999 KARNACK TX 75661 JOHN PRITCHARD DIRECTOR 1.00 X 0 0 0 WILLIAM D POWER CEO 40.00 X 78640 0 0 BRENDA WALKER SECRETARY/TREASURER 1.00 X 0 0 0 OCTAVIA POLK VICE PRESIDENT 1.00 X 0 0 0 CARL SHELTON PRESIDENT 1.00 X 0 0 0 78640 0 0 0 0 0 0 0 4200 4200 WATER SALES 221000 1661971 1661971 1661971 1202 1202 13793 12434 1359 1359 1359 MISCELLANEOUS 900099 13328 13328 13328 1682060 1675299 0 2561 78640 244950 469 87727 12637 1045 68387 11480 3375 2550 111798 281045 22079 FIELD SUPPLIES 303673 MAINTENANCE AND REPAIRS 205339 UTILITIES 94192 PERMITS, DUES, FEES, AN 70723 100799 1700908 45275 96260 135844 126390 2495 2495 10192218 3601364 6638460 6590854 6822074 6815999 30534 208191 4344508 4179624 4375042 4387815 X 2447032 2428184 2447032 2428184 6822074 6815999 -18848 0 X 0 1 X 1 0 343788 343788 322876 114536 208340 1198 1198 0 801973 579367 222606 8722383 2906263 5816120 6590854 X 1750377 68317 68317 1682060 0 1682060 1756791 55883 55883 1700908 0 1700908 PART X, LINE 2: LEIGH WATER SUPPLY CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 50L(C)(12) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO LEIGH WATER SUPPLY CORPORATION'S TAX-EXEMPT IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE ANNUAL FORMS 990 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS 2020 AND BEYOND. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE COMPANY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-XEMPT STATUS OF THE COMPANY AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS INCOME AND CORRESPONDING UNRELATED BUSINESS INCOME TAX (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM A TAX POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR FISCAL YEAR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: MISCELLANEOUS EXPENSE RECLASSED SALE OF FIXED ASSET PART XII, LINE 2D - OTHER ADJUSTMENTS: MISCELLANEOUS EXPENSE RECLASSED FORM 990, PART VI, SECTION A, LINE 6 THE WATER SUPPLY OPERATES AS A COOPERATIVE AND SUPPLIES WATER TO ITS MEMBERS. IN ORDER TO RECEIVE WATER UTILITY SERVICES FROM THE COOPERATIVE, YOU MUST BE A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF LEIGH WATER SUPPLY CORPORATION ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES ACTING ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS FORM 990 AT ITS BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICIES ARE REVIEWED EVERY YEAR AT THE BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.