2025-11-14T11:34:23-08:00 2024-12-31 742140022 John W McAnally PC CPA 8301 Bosque Blvd Waco TX 76712 990 2024-01-01 741502882 Levi Water Supply Corporation LEVI 2548573050 P O Box 490 Lorena TX 766550490 Jim Sheffield General Manager 2548573050 2025-11-14 true true John W McAnally P01258141 2547725690 2024 2025-03-06 01:10:19Z Chris Miller P O Box 490 Lorena TX 76655 1162751 false X www.leviwater.com X 1964 TX To provide a reliable source of potable water to all residential, commercial, and agricultural members at a reasonable cost in a manner that protects the environment and promotes development. 5 5 2 5 24725 0 112230 890183 919165 -136218 86663 2805 4785 756770 1122843 0 0 104819 105723 0 0 683573 753535 788392 859258 -31622 263585 4184489 4776317 2523494 2274639 1660995 2501678 To provide a reliable source of potable water to all residential, commercial, and agricultural members at a reasonable cost in a manner that protects the environment and promotes development. false false The organization furnishes a water utility service to rural areas of Falls and McLennan Counties, Texas. Current number of meters serviced is 788. false false false false false false false false false true false false false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 true 2 true false false false false false false false false false 1031395 91448 false false false X 5 5 false false false false true true true true true false false true true true true true true true false false X Jim Sheffield 2548573050 2757 Rosenthal Parkway Lorena TX 76655 X Chris Miller President 1.00 X X 0 0 0 John Hahne Vice-president 1.00 X X 0 0 0 Connie Wedemeyer Secretary 1.00 X X 0 0 0 Larry Groth Treasurer 1.00 X X 0 0 0 Gayle Richey Board Member 1.00 X 0 0 0 Jim Sheffield Manager 40.00 X 64656 0 0 64656 false false false Tank Sandblasting and Painting Inc PO Box 909 Mineral Wells TX 76068 Sandblasting and painting 104554 1 112230 112230 Water revenue 221000 919165 0 0 919165 64564 0 64564 62007 39908 22099 22099 0 22099 0 Miscellaneous revenue 900099 2159 0 0 2159 Sale of scrap metal 900099 520 0 520 0 Insurance claim proceeds 900099 2106 0 2106 0 4785 1122843 919165 24725 66723 98209 33553 64656 0 7514 2567 4947 0 74078 74078 0 0 3334 3334 0 0 10471 0 10471 0 330 330 0 0 14712 9415 5297 0 81137 81137 0 0 168426 0 0 0 33671 0 33671 0 Dues & subscriptions 16068 16068 0 0 351308 338892 12416 0 859258 559374 131458 0 97883 230347 1424029 1237289 60643 94697 5343163 2159181 2574624 3183982 24204 29871 3106 131 4184489 4776317 460270 2477669 1755453 45825 58916 2523494 2274639 X 1660995 2501678 1660995 2501678 4184489 4776317 X 263585 577098 X X false true X true false 0 62474 62474 5280689 2159181 3121508 3183982 Payroll liabilities 7025 Insurance Payable 0 Accrued Interest 6665 Prepaid meter evaluation 6575 Accrued expenses 28194 Customer prepayments 10457 58916 1122843 1122843 1122843 859258 859258 859258 Other Reserved assets are required by the organizations by-laws. Deposits are made into a reserved account as deemed necessary. Withdrawals are made only for emergency repairs, obsolescense of equipment, and for making up any deficiencies in revenues for loan payments. Other The Corporation is organized to conduct its business on a nonprofit basis and no dividends are ever to be paid on the shares of the membership of the Corporation. All profits arising from the operations of the Corporation are to be paid annually in direct proportion to the amount of business transacted to the persons who have, during the year, transacted business, provided that no such payments are ever to be made while any indebtedness of the corporation remains unpaid. The Corporation has been granted an exemption from federal income tax under Section 501(c)(12) of the Internal Revenue Code. The previous three tax years remain subject to examination by tax jurisdictions. Pt VI, Line 6 Customers of the Levi Water Supply Corporation are considered members of the organization. Pt VI, Line 7a The member-customers of the Levi Water Supply Corporation elect the governing board of directors at the annual meeting of the membership. Pt VI, Line 7b Certain decisions of the governing board of directors are subject to approval from the member-customers at the annual meeting. Pt VI, Line 11b The Form 990 is reviewed by the board of directors at a regular or called meeting prior to its filing. Pt VI, Line 12c Conflict of interest statement is presented to all candidates for the board and signed. Pt VI, Line 15a The compensation for the organizations employees are based on market value of similar positions in the area. Base compensation is slightly higher than similar positions in the area as the organization provides no benefits for its employees. While the Texas Water Code allows for compensation of board members, currently the organzations board members do not receive compensation. All wages and salaries are ultimately approved by the board of directors at a regular monthly meeting and these deliberations and decisions are recorded in the minutes. Pt VI, Line 19 The organization makes its governing documents, conflict of interest policy and financial statments available to the public upon request. Pt XII, Line 2c The process has not changed from the prior year. Pt XI Change in net assets due to reporting depreciation on straight line method rather than tax method, and similar financial statement audit adjustments affecting fixed assets. Pt XI Financial statement audit reclassification to Deferred revenue $460,270. Form 990, Part IX, Line 24e Small tools 2192. 2192. Form 990, Part IX, Line 24e Repairs & maintenance 212234. 202241. 9993. Form 990, Part IX, Line 24e Service Vehicle expense 6007. 6007. Form 990, Part IX, Line 24e Utilities 69891. 69576. 315. Form 990, Part IX, Line 24e Vehicle expense 253. 253. Form 990, Part IX, Line 24e Training 2310. 2310. Form 990, Part IX, Line 24e Parts and Supplies 47417. 47417. Form 990, Part IX, Line 24e Telephone 4624. 4624. Form 990, Part IX, Line 24e Other expense 6380. 4272. 2108.