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Nonprofit · EIN 57-0532489

GRASSY POND WATER COMPANY INC

Tax-exempt · GAFFNEY, SC 29342

Financials

$2.6M$2.4M2023$5.8M$2.5M2024
Revenue Expenses · by fiscal year end
Financials of GRASSY POND WATER COMPANY INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$5,781,487$2,494,694$3,286,793$11,589,807$120,950$11,468,857
December 31, 2023990$2,598,913$2,354,901$244,012$8,292,876$110,812$8,182,064
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$3,062,306
of which government grants
$3,062,306
Program service revenue
$2,515,340
Investment income
$88,858
Net gain from sales of assets
$9,700
Other revenue
$114,983

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$591,893
Salaries, compensation and benefits (total)
$836,930
Professional fundraising fees
$0
Legal fees
$3,000
Accounting fees
$6,685
Occupancy
$41,703
Travel
$37,366
Depreciation
$335,544
Program services (functional)
$2,480,984
Management and general (functional)
$13,710

Balance sheet and other

Total assets, start of year
$8,292,876
Total assets, end of year
$11,589,807
Total liabilities, end of year
$120,950
Net assets, end of year
$11,468,857
Land, buildings and equipment
$7,966,659
Net assets without donor restrictions
$10,786,657
Net assets with donor restrictions
$682,200
Gross receipts
$5,781,487
Employees
8
Year formed
1968
State of legal domicile
SC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
MIKE BOLINPRESIDENT
Trustee or director, Officer
0$0
DAVID STACYVICE CHAIRMAN
Trustee or director, Officer
0$0
GREG PATTERSONSECRETARY
Trustee or director, Officer
0$0
STEVE WOODTREASURER
Trustee or director, Officer
0$0
LEE SMITHBOARD MEMBER
Trustee or director
0$0
MITCHEL HUMPHRIESBOARD MEMBER
Trustee or director
0$0
RANDY CARNESBOARD MEMBER
Trustee or director
0$0
PHILIP SARRATTMANAGER
Key employee, Highest-paid employee
40$0
990 for the year ended December 31, 2023: 8 people
NameTitleHours / weekCompensation
DAVID STACYBOARD MEMBER
Trustee or director
0$0
LEE SMITHBOARD MEMBER
Trustee or director
0$0
RANDY CARNESBOARD MEMBER
Trustee or director
0$0
STEVE WOODTREASURER
Trustee or director, Officer
0$0
MITCHELL HUMPHRIESPRESIDENT
Trustee or director, Officer
0$0
GREG PATTERSONVICE CHAIRMAN
Trustee or director, Officer
0$0
MIKE BOLINSECRETARY
Trustee or director, Officer
0$0
PHILIP SARRATTMANAGER
Key employee, Highest-paid employee
40$0

Address and contacts

Address (IRS master file)
PO BOX 1209, GAFFNEY, SC 29342-1209
In care of
% MIKE BOLIN
Signed the 990
MIKE BOLIN, PRESIDENT
Phone
(864) 489-7777
Return prepared by
Kesler Queen & Masters CPAs Inc

Mission

RURAL WATER SUPPLIER

990 for the year ended December 31, 2024

Program accomplishments

  • WATER UTILITY PROVIDING OVER 391 MILLION GALLONS OF WATER TO APPROXIMATELY 3660 CUSTOMERS DURING THE TAX YEAR.
    Expenses $2,480,984

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
57-0532489
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1970
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$11,589,807
Income (IRS master file)
$5,781,487

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$5,781,487$2,494,694$11,589,807IRS
990December 2023$2,598,913$2,354,901$8,292,876XML
990December 2022$2,631,873$2,303,974$8,051,596IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-0532489).

Questions about GRASSY POND WATER COMPANY INC

What is the EIN of GRASSY POND WATER COMPANY INC?
The employer identification number (EIN) of GRASSY POND WATER COMPANY INC is 57-0532489.
Is GRASSY POND WATER COMPANY INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1970.
Are donations to GRASSY POND WATER COMPANY INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does GRASSY POND WATER COMPANY INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of GRASSY POND WATER COMPANY INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did GRASSY POND WATER COMPANY INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of GRASSY POND WATER COMPANY INC?
The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
How much revenue does GRASSY POND WATER COMPANY INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $5,781,487, expenses of $2,494,694 and total assets of $11,589,807 at year end.

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