Nonprofit · EIN 59-1236062
LAKE PANASOFFKEE WATER ASSOCIATION INC
Tax-exempt · LK PANASOFFKE, FL 33538
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $675,335 | $698,150 | -$22,815 | $2,028,981 | $125,740 | $1,903,241 |
| June 30, 2024 | 990 | $603,443 | $726,399 | -$122,956 | $2,031,661 | $105,513 | $1,926,148 |
| June 30, 2023 | 990 | $617,585 | $666,735 | -$49,150 | $2,152,856 | $111,380 | $2,041,476 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $644,899
- Investment income
- $30,436
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $3,500
- Other salaries and wages
- $238,497
- Salaries, compensation and benefits (total)
- $373,309
- Professional fundraising fees
- $0
- Legal fees
- $1,511
- Accounting fees
- $9,074
- Occupancy
- $143,689
- Depreciation
- $63,528
- Program services (functional)
- $698,150
Balance sheet and other
- Total assets, start of year
- $2,031,661
- Total assets, end of year
- $2,028,981
- Total liabilities, end of year
- $125,740
- Net assets, end of year
- $1,903,241
- Land, buildings and equipment
- $538,297
- Gross receipts
- $675,335
- Employees
- 6
- Volunteers
- 0
- Year formed
- 1965
- State of legal domicile
- FL
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOEL MERRITT | PRESIDENT Trustee or director, Officer | 1 | $600 |
| MARK WEBER | VICE-PRESIDENT Trustee or director, Officer | 0.5 | $600 |
| ALBERT BAKER | DIRECTOR Trustee or director | 0.5 | $600 |
| ROBERT NORRIS | SECRETARY/TREASURER Trustee or director, Officer | 0.5 | $600 |
| MARGARET SUE HACKETT | DIRECTOR Trustee or director | 0.5 | $600 |
| JACQUELYN COOK | DIRECTOR Trustee or director | 0.5 | $300 |
| TERRY DICKERSON | DIRECTOR Trustee or director | 0.5 | $200 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOEL MERRITT | PRESIDENT Trustee or director, Officer | 1 | $550 |
| MARK WEBER | VICE-PRESIDENT Trustee or director, Officer | 0.5 | $550 |
| ALBERT BAKER | DIRECTOR Trustee or director | 0.5 | $550 |
| ROBERT NORRIS | SECRETARY/TREASURER Trustee or director, Officer | 0.5 | $550 |
| TERRY DICKERSON | DIRECTOR Trustee or director | 0.5 | $550 |
| MARGARET SUE HACKETT | DIRECTOR Trustee or director | 0.5 | $300 |
990 for the year ended June 30, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK WEBER | VICE-PRESIDENT Trustee or director, Officer | 0.5 | $599 |
| ALBERT BAKER | DIRECTOR Trustee or director | 0.5 | $599 |
| TERRY DICKERSON | DIRECTOR Trustee or director | 0.5 | $599 |
| JOEL MERRITT | PRESIDENT Trustee or director, Officer | 1 | $549 |
| ROBERT NORRIS | SECRETARY/TREASURER Trustee or director, Officer | 0.5 | $499 |
| MICHAEL KERNS | DIRECTOR Trustee or director | 0.5 | $299 |
Address and contacts
- Address (IRS master file)
- 1165 CR 465, LK PANASOFFKE, FL 33538-5644
- Principal officer (990 for 2024)
- JOEL MERRITT, 1165 CR 465, LAKE PANASOFFKEE, FL 33538
- Signed the 990
- JOEL MERRITT, PRESIDENT
- Phone
- (352) 793-4236
- Website
- LAKEPANWATER.COM
- Return prepared by
- DUGGAN JOINER & COMPANY CPA'S
Mission
TO MAINTAIN A RURAL WATER UTILITY WHICH PROVIDES POTABLE WATER TO ITS MEMBERS LIVING IN THE LAKE PANASOFFKEE, FLORIDA AREA
Program accomplishments
- THE WATER ASSOCIATION MAINTAINS A RURAL WATER UTILITY WHICH PROVIDES POTABLE WATER TO APPROXIMATELY 1500 MEMBERS LIVING IN THE LAKE PANASOFFKEE, FLORIDA AREAExpenses $698,150
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 59-1236062
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,028,981
- Income (IRS master file)
- $675,335
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $675,335 | $698,150 | $2,028,981 | XML |
| 990 | June 2024 | $603,443 | $726,399 | $2,031,661 | IRS |
| 990 | June 2023 | $617,585 | $666,735 | $2,152,856 | XML |
| 990 | June 2022 | $528,076 | $605,035 | $2,192,149 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
| 990 | June 2017 | – | – | – | 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 59-1236062).
Questions about LAKE PANASOFFKEE WATER ASSOCIATION INC
- What is the EIN of LAKE PANASOFFKEE WATER ASSOCIATION INC?
- The employer identification number (EIN) of LAKE PANASOFFKEE WATER ASSOCIATION INC is 59-1236062.
- Is LAKE PANASOFFKEE WATER ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1969.
- Are donations to LAKE PANASOFFKEE WATER ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LAKE PANASOFFKEE WATER ASSOCIATION 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 LAKE PANASOFFKEE WATER ASSOCIATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE PANASOFFKEE WATER ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of LAKE PANASOFFKEE WATER ASSOCIATION INC?
- The 990 for the year ended June 30, 2025 names JOEL MERRITT.
- Who are the officers and directors of LAKE PANASOFFKEE WATER ASSOCIATION INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 7 received compensation from the organization, the highest $600 (JOEL MERRITT, PRESIDENT).
- How much revenue does LAKE PANASOFFKEE WATER ASSOCIATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $675,335, expenses of $698,150 and total assets of $2,028,981 at year end.
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