2024-06-17T08:15:47-05:00 2023-12-31 720398470 HEARD MCELROY & VESTAL LLC 2403 JUDSON ROAD LONGVIEW TX 75605 990 2023-01-01 751728048 GUM SPRINGS WATER SUPPLY CORPORATION GUMS 9036603420 PO BOX 750 HALLSVILLE TX 756500750 DERRICK TODD GENERAL MANAGER 9036603420 2024-05-25 1 DERRICK TODD XXX-XX-XXXX 0 REBECCA VANNATTAN CPA P01781574 9037580734 2024-05-25 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z PO BOX 750 HALLSVILLE TX 756500750 2767605 0 X GSWSC.COM X 1966 TX THE ORGANIZATION PROVIDES A RURAL WATER SUPPLY ON A COOPERATIVE BASIS TO RESIDENTS AND BUSINESSES IN PORTIONS OF WESTERN HARRISON COUNTY, TEXAS. 8 8 9 0 0 0 200000 0 2791967 2754932 28256 12673 0 0 3020223 2767605 0 0 0 0 578078 649445 0 0 0 1929473 1652702 2507551 2302147 512672 465458 10248486 11268807 2965586 3476504 7282900 7792303 THE ORGANIZATION PROVIDES A RURAL WATER SUPPLY ON A COOPERATIVE BASIS TO RESIDENTS AND BUSINESSES IN PORTIONS OF WESTERN HARRISON COUNTY, TEXAS. 0 0 2302147 WATER SUPPLY TO RURAL COMMUNITY. 2302147 0 0 0 0 0 0 0 0 0 1 0 0 1 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 0 1 8 0 1 9 1 0 0 0 0 0 0 0 2754932 12673 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 X DERRICK TODD 9036603420 PO BOX 750 HALLSVILLE TX 756500750 RAY JACKSON SECRETARY 5.00 X X 0 0 0 LINNIE CRUMP MEMBER 5.00 X 0 0 0 BILL ROBERTS MEMBER 5.00 X 0 0 0 EDDIE STENCE MEMBER 5.00 X 0 0 0 GLENDA GRAMMER MEMBER 5.00 X 0 0 0 EDDIE ABBOTT VICE PRESIDENT 5.00 X X 0 0 0 KELLY THOMPSON PRESIDENT 5.00 X X 0 0 0 DERRICK L TODD MANAGER 40.00 X 86339 0 0 86339 0 0 0 0 0 0 0 WATER REVENUE 221000 2589781 2589781 NEW SERVICE FEES 221000 83438 83438 PENALTIES 221000 33458 33458 APP/EASEMENT/MISC FEES 221000 28230 28230 RECONNECT/TRANSFER FEE 221000 20025 20025 2754932 10818 10818 1855 0 1855 1855 1855 2767605 2767605 0 0 86339 86339 407856 407856 30561 30561 86475 86475 38214 38214 3493 3493 31421 31421 7694 7694 49084 49084 6771 6771 107109 107109 305680 305680 43557 43557 WATER PURCHASED 585586 585586 REPAIRS 142108 142108 UTILITIES 101046 101046 EQUIP RENTAL & MAINTENA 53018 53018 216135 216135 2302147 2302147 0 0 372050 862533 862586 672234 308409 310074 59530 82357 42662 69195 13443980 4997221 7725645 8446759 877604 825655 10248486 11268807 47416 12374 2135311 2676930 782859 787200 2965586 3476504 X 232918 242168 935478 970173 6114504 6579962 7282900 7792303 10248486 11268807 X 465458 43945 X 0 1 X 1 0 487687 487687 679181 109120 570061 11345891 4273712 7072179 931221 614389 316832 8446759 CONSTRUCTION IN PROGRESS 825655 825655 ACCRUED EXPENSES 85456 CONTRACT LIABILITIES 701744 787200 X 2767605 0 2767605 0 2767605 2302148 0 2302148 0 2302148 PART X, LINE 2: "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES CONTAINED IN FASC TOPIC 740 'INCOME TAXES', REQUIRES THE USE OF A TWO-STEP APPROACH FOR RECOGNIZING AND MEASURING TAX BENEFITS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETRUN AND DISCLOSURES REGARDING UNCERTAINTIES IN INCOME TAX POSITIONS. THE FIRST STEP IS RECOGNITION: WE DETERMINE WHETHER IT IS MORE-LIKELY-THAN-NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. IN EVALUATING WHETHER A TAX POSITION HAS MET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD, WE PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPOPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE SECOND STEP IS MEASUREMENT: A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN-NOT RECOGNITION THESHOLD IS MEASURED TO DETERMINE THE AMOUNT OF BENEFIT TO RECOGNIZE IN THE FINANCIAL STATEMENTS. THE TAX POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. DIFFERENCES BETWEEN TAX POSITIONS TAKEN IN A TAX RETURN AND AMOUNT RECOGNIZED IN THE FINANCIALS STATEMENTS WILL GENERALLY RESULT IN ONE OR MORE OF THE FOLLOWING: AN INCREASE IN A LIABILITY FOR INCOME TAXES PAYABLE, A REDUCTION ON AN INCOME TAX REFUND RECEIVABLE, A REDUCTION IN A DEFERRED TAX ASSET, OR AN INCREASE IN A DEFERRED TAX LIABILITY. WE HAVE NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN OUR FINANCIAL STATEMENTS AND WE BELIEVE THAT THE POSITIONS TAKEN WOULD NOT REQUIRE SETTLEMENT AT AN AMOUNT LESS THAN FULL RECOGNITION. WE FILE INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. WE ARE GENERALLY NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2020." FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - GUM SPRINGS WATER SUPPLY HAS 3,653 MEMBERS AS OF THE END OF THE TAX YEAR LIVING IN THE RURAL COMMUNITY OF GUM SPRINGS, TEXAS SERVICED BY THE WATER SUPPLY. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - MEMBERS OF GUM SPRINGS WATER SUPPLY ELECT THE DIRECTORS WHO OVERSEE THE CORPORATION. DIRECTIORS ARE ELECTED ANNUALLY. REGULARY SCHEDULED MEETINGS ARE HELD EACH MONTH. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - THE SECRETARY RECORDS THE MINUTES OF EACH MEETING. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THIS RETURN IS REVIEWED AT A MONTHLY MEETING BEFORE FILING. FORM 990, PART VI, SECTION C, LINE 19 GUM SPRINGS WATER SUPPLY IS SUBJECT TO OPEN RECORDS; IT PROVIDES ITS GOVERNING BODY DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: AID TO CONSTRUCTION RECEIVED 69,132. AMORTIZATION OF AID TO CONSTRUCTION -34,437. MEMBERSHIPS ISSUED/REFUNDED NET 9,250.