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Nonprofit · EIN 59-1673712

SOUTH WALTON UTILITY COMPANY INC

Tax-exempt · MIRAMAR BEACH, FL 32550

Financials

$15.8M$11.8M2023$17.7M$12.3M2024
Revenue Expenses · by fiscal year end
Financials of SOUTH WALTON UTILITY COMPANY INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2025990$17,662,454$12,320,273$5,342,181$86,161,234$7,344,320$78,816,914
September 30, 2024990$15,834,805$11,818,458$4,016,347$82,232,364$8,709,018$73,523,346
Financial details: 990 for the year ended September 30, 2025

Revenue

Contributions, gifts and grants
$3,516,868
Program service revenue
$13,114,157
Investment income
$1,188,112
Net gain from sales of assets
$25,086
Other revenue
-$156,683

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$3,164,930
Salaries, compensation and benefits (total)
$4,485,631
Professional fundraising fees
$0
Legal fees
$18,250
Accounting fees
$42,000
Travel
$47,023
Depreciation
$2,746,677

Balance sheet and other

Total assets, start of year
$82,232,364
Total assets, end of year
$86,161,234
Total liabilities, end of year
$7,344,320
Net assets, end of year
$78,816,914
Land, buildings and equipment
$46,565,301
Gross receipts
$17,662,454
Employees
45
Volunteers
0
Year formed
1968
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 September 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JOSEPH REAMGENERAL MANAGER
Highest-paid employee
40$146,215$11,697
RICHARD SCHWARTZPROJECT AND MAINTENANCE MA
Highest-paid employee
40$130,932$10,474
ROBERT A STYGAROFFICE MANAGER
Highest-paid employee
40$108,602$8,688
ALICIA KEETERFORMER GENERAL MANAGER
Former
40$114,480$2,160
BENJAMIN KEENOPERATIONS MANAGER
Highest-paid employee
40$107,693$8,615
DAVE BROWNPRESIDENT
Trustee or director, Officer
2$0$0
STEPHEN D DIXONVICE PRESIDENT
Trustee or director, Officer
2$0$0
TODD KLEPPINGERSECRETARY
Trustee or director, Officer
2$0$0
DEWAYNE YOUNGBLOODTREASURER
Trustee or director, Officer
2$0$0
DUSTIN K TERRYDIRECTOR
Trustee or director
2$0$0
DAVID SMITHDIRECTOR
Trustee or director
2$0$0
KEVIN KENNEDYDIRECTOR
Trustee or director
2$0$0
990 for the year ended September 30, 2024: 13 people
NameTitleHours / weekCompensation
ALICIA KEETERFORMER GENERAL MANAGER
Former
40$151,385
BENJAMIN KEENOPERATIONS MANAGER
Highest-paid employee
40$139,780
RICHARD SCHWARTZPROJECT AND MAINTENANCE MA
Highest-paid employee
40$139,377
JOSEPH REAMGENERAL MANAGER
Highest-paid employee
40$134,828
ROBERT A STYGAROFFICE MANAGER
Highest-paid employee
40$121,109
MICHAEL RICHARDSONPRESIDENT
Trustee or director, Officer
2$0
DAVE BROWNVICE PRESIDENT
Trustee or director, Officer
2$0
STEPHEN D DIXONSECRETARY
Trustee or director, Officer
2$0
DEWAYNE YOUNGBLOODTREASURER
Trustee or director, Officer
2$0
DUSTIN K TERRYDIRECTOR
Trustee or director
2$0
DAVID SMITHDIRECTOR
Trustee or director
2$0
KLEPPINGER TODDDIRECTOR
Trustee or director
2$0
KEVIN KENNEDYDIRECTOR
Trustee or director
2$0

Address and contacts

Address (IRS master file)
369 MIRAMAR BEACH DR, MIRAMAR BEACH, FL 32550-8034
Principal officer (990 for 2024)
JOSEPH REAM, 369 MIRAMAR BEACH DRIVE, MIRAMAR BEACH, FL 32550
Signed the 990
JOSEPH REAM, GENERAL MANAGER
Phone
(850) 837-2988
Return prepared by
WARREN AVERETT LLC

Mission

FROM WATER TO WASTEWATER, OUR MISSION IS TO PROVIDE OUR MEMBERS QUALITY AND RELIABLE SERVICE IN A RESPONSIVE AND EQUITABLE MANNER.

990 for the year ended September 30, 2025

Program accomplishments

  • PROVIDE WATER AND SEWER SERVICES TO 10,744 MEMBERS AT 9/30/25.

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 September, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025September 30, 2026February 16, 2027Not due yet
2024September 30, 2025February 17, 2026990 on file
2023September 30, 2024February 18, 2025990 on file

IRS record

EIN
59-1673712
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1969
Accounting year ends
September
Files
Form 990 or 990-EZ
Assets (IRS master file)
$86,161,234
Income (IRS master file)
$17,662,454

Filing history

FormYear endedRevenueExpensesAssetsReturn
990September 2025$17,662,454$12,320,273$86,161,234XML
990September 2024$15,834,805$11,818,458$82,232,364XML
990September 2023$12,909,445$10,841,996$79,481,630IRS
990September 2022$13,421,179$10,528,424$78,757,727IRS
990September 2021–––IRS
990September 2020–––IRS
990September 2019–––IRS
990September 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 59-1673712).

Questions about SOUTH WALTON UTILITY COMPANY INC

What is the EIN of SOUTH WALTON UTILITY COMPANY INC?
The employer identification number (EIN) of SOUTH WALTON UTILITY COMPANY INC is 59-1673712.
Is SOUTH WALTON UTILITY COMPANY INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1969.
Are donations to SOUTH WALTON UTILITY COMPANY INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does SOUTH WALTON UTILITY 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 SOUTH WALTON UTILITY COMPANY INC due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SOUTH WALTON UTILITY COMPANY INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended September 2025.
Who is the principal officer of SOUTH WALTON UTILITY COMPANY INC?
The 990 for the year ended September 30, 2025 names JOSEPH REAM.
Who are the officers and directors of SOUTH WALTON UTILITY COMPANY INC?
The 990 for the year ended September 30, 2025 lists 12 people; 5 received compensation from the organization, the highest $146,215 (JOSEPH REAM, GENERAL MANAGER).
How much revenue does SOUTH WALTON UTILITY COMPANY INC have?
On its 990 for the year ended September 30, 2025 it reported revenue of $17,662,454, expenses of $12,320,273 and total assets of $86,161,234 at year end.

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