2025-10-17T12:49:19-05:00 2025-06-30 473535842 DAVIS FARR LLP 18201 VON KARMAN AVE SUITE 1100 IRVINE CA 92612 990 2024-07-01 950539200 BELLFLOWER SOMERSET MUTUAL WATER COMPANY BELL 5628669980 PO BOX 1697 BELLFLOWER CA 90707 STEVE LENTON GENERAL MANAGER 5628669980 2025-10-16 1 1 TRITIA FOSTER P02164134 9494742020 2024 2025-03-06 01:10:19Z STEVE LENTON PO BOX 1697 BELLFLOWER CA 90707 12129681 0 X WWW.BSMWC.COM/ X 1911 CA PROVIDE WATER SERVICE FOR SHAREHOLDERS 5 0 21 0 0 0 0 0 10164301 11125878 211387 112698 654916 891105 11030604 12129681 0 0 0 0 2273928 2615974 0 0 0 5552673 5821669 7826601 8437643 3204003 3692038 43592937 46741319 3838860 3295204 39754077 43446115 PROVIDE WATER SERVICE TO SHAREHOLDERS 0 0 8335912 11125878 PROVIDE WATER SERVICE TO SHAREHOLDERS 8335912 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 21 1 0 0 0 0 0 0 0 11499589 630092 0 0 0 X 5 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 CA X BELLFLOWER SOMERSET MUTUAL WAT 5628669980 PO BOX 1697 BELLFLOWER CA 90707 ERIC IKEDA PRESIDENT 3.00 X X 7791 0 42288 ROBERT WILSON VICE PRESIDENT 2.00 X X 22926 0 44474 LEO STRUIKSMA SECRETARY - TREASURER 2.00 X X 22437 0 0 RICK COOK BOARD MEMBER 2.00 X 6761 0 38172 IOANA GOCAN BOARD MEMBER 2.00 X 5541 0 29619 STEVE LENTON GENERAL MANAGER 40.00 X 254254 0 42193 ANGELICA ZEPEDA OFFICE MANAGER 40.00 X 181871 0 46760 MICHAEL VASQUEZ SUPERINTENDENT 40.00 X 137737 0 31127 JOSE CUELLER WATER DISTRIBUTION LEAD 40.00 X 118053 0 35097 DARREN ANDERSON WATER DISTRIBUTION LEAD 40.00 X 105509 0 31524 FELIX DUARTE WATER DISTRIBUTION II 40.00 X 103803 0 28075 966683 0 369329 6 0 1 0 AKM CONSULTING ENGINEERS INC 553 WALD IRVINE CA 92618 ENGINEERING SERVICES FOR CAPITAL PROJECT 338416 MCKINNEY CONSTRUCTION CO INC PO BOX 3399 RIVERSIDE CA 92519 CONSTRUCTION SERVICES 268706 HIGHROAD INFORMATION TECHNOLOGY 4060 CAMPUS DRIVE SUITE 150 NEWPORT BEACH CA 92660 IT SERVICES 173923 3 WATER SERVICE & FEES 221000 11125878 11125878 11125878 112698 112698 CALIFORNIA AMERICAN WATER SYSTEM 221000 373711 373711 CONTRIB IN AID OF CONSTRUCTION 221000 335311 335311 MISCELLANEOUS REVENUE 221000 182083 182083 891105 12129681 12016983 0 112698 518967 1435624 146690 378984 135709 7894 18975 180599 170412 267588 2658 101731 692625 98292 SOURCE OF SUPPLY 2983036 TRANSMISSION AND DISTRI 632014 TREATMENT EXPENSES 305401 FRANCHISE FEES 95846 264598 8437643 2176306 2056317 11032302 12974771 1940922 2140711 692441 894240 215041 192602 34822960 7760524 26115683 27062436 1420242 1420242 43592937 46741319 1864296 1507417 1938098 1731643 36466 56144 3838860 3295204 X 205980 205980 229465 229465 39318632 43010670 39754077 43446115 43592937 46741319 3692038 0 X 1 X 0 0 0 1850980 1850980 32971980 7760524 25211456 27062436 DEVELOPER DEPOSITS PAYABLE 50649 INTEREST PAYABLE 5495 56144 X PART X, LINE 2: THE BELLFLOWER-SOMERSET MUTUAL WATER COMPANY IS ORGANIZED AS A CAPITAL STOCK MUTUAL WATER COMPANY AND IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501 (C) (12) OF THE INTERNAL REVENUE CODE. FOR THE STATE OF CALIFORNIA, A CORPORATE TAX LIABILITY RESULTS FROM REVENUES IN EXCESS OF EXPENSES UNRELATED TO THE COMPANY'S TAX-EXEMPT PURPOSE. THE PROVISION FOR CALIFORNIA TAX WAS $800 PER YEAR FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. X 0 0 0 STEVE LENTON GENERAL MANAGER 252754 0 1500 0 0 0 16895 0 25298 0 296447 0 0 0 ANGELICA ZEPEDA OFFICE MANAGER 180371 0 1500 0 0 0 28723 0 18037 0 228631 0 0 0 MICHAEL VASQUEZ SUPERINTENDENT 137737 0 0 0 0 0 13664 0 17463 0 168864 0 0 0 JOSE CUELLER WATER DISTRIBUTION LEAD 118053 0 0 0 0 0 10399 0 24698 0 153150 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS APPROVES THE PAY SCALE FOR ALL EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY COMPANY MANAGEMENT AND CONTRACT CPA BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 11B MAILING TO STOCKHOLDERS AND INFORMATION AVAILABLE TO STOCKHOLDERS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: ARTICLE I: PURPOSE THIS CONFLICT OF INTEREST POLICY IS DESIGNED TO FOSTER CONFIDENCE IN THE INTEGRITY OF THE BELLFLOWER-SOMERSET MUTUAL WATER COMPANY, A CALIFORNIA CORPORATION (THE "CORPORATION"), AND TO PROTECT THE CORPORATION'S INTEREST WHEN IT IS CONTEMPLATING ENTERING A TRANSACTION THAT MIGHT BENEFIT THE PRIVATE INTEREST OF A DIRECTOR, A CORPORATE OFFICER, UPPER MANAGEMENT OR A KEY EMPLOYEE. ARTICLE II: DEFINITIONS THE FOLLOWING ARE CONSIDERED "INSIDERS" FOR THE PURPOSES OF THIS POLICY: 1. EACH MEMBER OF THE BOARD OF DIRECTORS OR OTHER GOVERNING BODY. 2. THE OFFICERS, EXECUTIVE DIRECTOR AND GENERAL MANAGER OF THE CORPORATION. 3. ANY KEY EMPLOYEE, MEANING AN EMPLOYEE WHOSE TOTAL ANNUAL COMPENSATION (INCLUDING BENEFITS) FROM THE ORGANIZATION AND ITS AFFILIATES IS MORE THAN $100,000 AND WHO HAS RESPONSIBILITIES OR INFLUENCE OVER THE ORGANIZATION SIMILAR TO THAT OF OFFICERS OR DIRECTORS. "INTEREST" MEANS ANY COMMITMENT, INVESTMENT, RELATIONSHIP, OBLIGATION, OR INVOLVEMENT, FINANCIAL OR OTHERWISE, DIRECT OR INDIRECT, THAT MAY INFLUENCE A PERSON'S JUDGMENT, INCLUDING RECEIPT OF COMPENSATION FROM THE CORPORATION, A SALE, LOAN, OR EXCHANGE TRANSACTION WITH THE CORPORATION. A CONFLICT OF INTEREST IS PRESENT WHEN, IN THE JUDGMENT OF THE BOARD OF DIRECTORS, AN INSIDER'S STAKE IN THE TRANSACTION IS SUCH THAT IT REDUCES THE LIKELIHOOD THAT AN INSIDER'S INFLUENCE CAN BE EXERCISED IMPARTIALLY IN THE BEST INTERESTS OF THE CORPORATION. "TRANSACTION" MEANS ANY TRANSACTION, AGREEMENT, OR ARRANGEMENT BETWEEN AN INSIDER AND THE CORPORATION, OR BETWEEN THE CORPORATION AND ANY THIRD PARTY WHERE AN INSIDER HAS AN INTEREST IN THE TRANSACTION OR ANY PARTY TO IT. ARTICLE III: PROCEDURES SECTION 1. DUTY TO DISCLOSE. EACH INSIDER SHALL DISCLOSE TO THE BOARD ALL MATERIAL FACTS REGARDING HIS OR HER INTEREST IN THE TRANSACTION, PROMPTLY UPON LEARNING OF THE PROPOSED TRANSACTION. SECTION 2. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS; RECUSAL OF INSIDER. WITH REGARD TO AN INSIDER, THE BOARD SHALL DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE INSIDER AND ANY OTHER INTERESTED PERSON INVOLVED WITH THE TRANSACTION SHALL RECUSE THEMSELVES AND NOT BE PRESENT DURING THE BOARD'S DISCUSSION OR DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS, EXCEPT AS PROVIDED IN ARTICLE IV BELOW. SECTION 3. PROCEDURES FOR ADDRESSING A CONFLICT OF INTEREST. THE BOARD SHALL FOLLOW THE PROCEDURES SET FORTH IN ARTICLE IV IN ORDER TO DECIDE WHAT MEASURES ARE NEEDED TO PROTECT THE CORPORATION'S INTERESTS IN LIGHT OF THE NATURE AND SERIOUSNESS OF THE CONFLICT, TO DECIDE WHETHER TO ENTER INTO THE TRANSACTION AND, IF SO, TO ENSURE THAT THE TERMS OF THE TRANSACTION ARE APPROPRIATE. ARTICLE IV: REVIEW BY THE BOARD THE BOARD MAY ASK QUESTIONS OF AND RECEIVE A PRESENTATION FROM THE INSIDER AND ANY OTHER INTERESTED PERSON, BUT SHALL DELIBERATE AND VOTE ON THE TRANSACTION IN THEIR ABSENCE. THE BOARD SHALL ASCERTAIN THAT ALL MATERIAL FACTS REGARDING THE TRANSACTION AND THE INSIDER'S CONFLICT OF INTEREST HAVE BEEN DISCLOSED TO THE BOARD AND SHALL COMPILE APPROPRIATE DATA, SUCH AS COMPARABILITY STUDIES, TO DETERMINE FAIR MARKET VALUE FOR THE TRANSACTION. AFTER EXERCISING DUE DILIGENCE, WHICH MAY INCLUDE INVESTIGATING ALTERNATIVES THAT PRESENT NO CONFLICT, THE BOARD SHALL DETERMINE WHETHER THE TRANSACTION IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE TO THE CORPORATION; THE MAJORITY OF DISINTERESTED MEMBERS OF THE BOARD THEN IN OFFICE MAY APPROVE THE TRANSACTION. ARTICLE V: RECORDS OF PROCEEDINGS THE MINUTES OF ANY MEETING OF THE BOARD PURSUANT TO THIS POLICY SHALL CONTAIN THE NAME OF EACH INSIDER WHO DISCLOSED OR WAS OTHERWISE DETERMINED TO HAVE AN INTEREST IN A TRANSACTION; THE NATURE OF THE INTEREST AND WHETHER IT WAS DETERMINED TO CONSTITUTE A CONFLICT OF INTEREST; ANY ALTERNATIVE TRANSACTIONS CONSIDERED; THE MEMBERS OF THE BOARD WHO WERE PRESENT DURING THE DELIBERATIONS ON THE TRANSACTION, THOSE WHO VOTED ON IT, AND TO WHAT EXTENT INTERESTED PERSONS WERE EXCLUDED FROM THE DELIBERATIONS; ANY COMPARABILITY DATA OR OTHER INFORMATION OBTAINED AND RELIED UPON BY THE BOARD AND HOW THE INFORMATION WAS OBTAINED; AND THE RESULT OF THE VOTE, INCLUDING, IF APPLICABLE, THE TERMS OF THE TRANSACTION THAT WAS APPROVED AND THE DATE IT WAS APPROVED. ARTICLE VI: ANNUAL DISCLOSURE AND COMPLIANCE STATEMENTS EACH DIRECTOR, EACH CORPORATE OFFICER, THE EXECUTIVE DIRECTOR, THE GENERAL MANAGER AND EACH KEY EMPLOYEE OF THE CORPORATION, SHALL ANNUALLY SIGN A STATEMENT ON THE FORM ATTACHED, THAT: (A) AFFIRMS THAT THE PERSON HAS RECEIVED A COPY OF THIS CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTOOD THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY; AND (B) DISCLOSES THE PERSON'S FINANCIAL INTERESTS AND FAMILY RELATIONSHIPS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. ARTICLE VII: VIOLATIONS IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT AN INSIDER OF THE CORPORATION HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, INCLUDING THOSE ARISING FROM A TRANSACTION WITH A RELATED INTERESTED PERSON, IT SHALL INFORM SUCH INSIDER OF THE BASIS FOR THIS BELIEF AND AFFORD THE INSIDER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INSIDER'S RESPONSE AND MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD DETERMINES THAT THE INSIDER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ARTICLE VIII: ANNUAL REVIEWS THE BOARD SHALL AUTHORIZE AND OVERSEE AN ANNUAL REVIEW OF THE ADMINISTRATION OF THIS CONFLICT OF INTEREST POLICY. THE REVIEW MAY BE WRITTEN OR ORAL. THE REVIEW SHALL CONSIDER THE LEVEL OF COMPLIANCE WITH THE POLICY, THE CONTINUING SUITABILITY OF THE POLICY, AND WHETHER THE POLICY SHOULD BE MODIFIED AND IMPROVED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES THE PAY SCALE FOR ALL EMPLOYEES, INCLUDING THE GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION WILL GENERALLY MAKE THESE DOCUMENTS AVAILABLE AT THEIR OFFICES.