Nonprofit · EIN 64-0535898
PALMETTO WATER SYSTEM INC
Tax-exempt · TUPELO, MS 38801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,227,629 | $292,222 | $935,407 | $2,870,384 | $273,157 | $2,597,227 |
| June 30, 2024 | 990 | $307,037 | $287,260 | $19,777 | $1,706,781 | $37,501 | $1,669,280 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $909,632
- of which government grants
- $909,632
- Program service revenue
- $307,399
- Investment income
- $10,598
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $37,835
- Salaries, compensation and benefits (total)
- $37,835
- Professional fundraising fees
- $0
- Accounting fees
- $4,030
- Occupancy
- $33,826
- Travel
- $2,100
- Depreciation
- $69,236
- Program services (functional)
- $239,034
- Management and general (functional)
- $53,188
Balance sheet and other
- Total assets, start of year
- $1,706,781
- Total assets, end of year
- $2,870,384
- Total liabilities, end of year
- $273,157
- Net assets, end of year
- $2,597,227
- Land, buildings and equipment
- $1,164,466
- Net assets without donor restrictions
- $2,597,227
- Gross receipts
- $1,227,629
- Employees
- 1
- Year formed
- 1967
- State of legal domicile
- MS
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 |
|---|---|---|---|
| GARY WOOD | DIRECTOR Trustee or director | 40 | $37,835 |
| KENNETH HANKINS | DIRECTOR Trustee or director | – | $0 |
| LARRY HESTER | PRESIDENT Trustee or director, Officer | – | $0 |
| JIMMY LINDLEY | VICE PRESIDE Trustee or director, Officer | – | $0 |
| TOMMY PENNINGTON | SECRETARY-TR Trustee or director, Officer | – | $0 |
990 for the year ended June 30, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GARY WOOD | DIRECTOR Trustee or director | 40 | $37,628 |
| KENNETH HANKINS | DIRECTOR Trustee or director | – | $0 |
| LARRY HESTER | PRESIDENT Trustee or director, Officer | – | $0 |
| JIMMY LINDLEY | VICE PRESIDE Trustee or director, Officer | – | $0 |
| TOMMY PENNINGTON | SECRETARY-TR Trustee or director, Officer | – | $0 |
Address and contacts
- Address (IRS master file)
- 536 PALMETTO RD, TUPELO, MS 38801-7610
- In care of
- % GARY WOOD
- Principal officer (990 for 2024)
- TOMMY PENNINGTON, 536 PALMETTO ROAD, TUPELO, MS 38801
- Signed the 990
- TOMMY PENNINGTON, SECRETARY-TREASURER
- Phone
- (662) 566-8455
- Return prepared by
- VANCE & COMPANY PA
Mission
PROVIDE COMMUNITY WATER TO A SPECIFIED AREA IN LEE AND PONTOTOC COUNTIES, MISSISSIPPI, GRANTED BY THE MISSISSIPPI PUBLIC SERVICE COMMISSION.
Program accomplishments
- PROVIDE COMMUNITY WATER TO A SPECIFIED AREA IN LEE AND PONTOTOC COUNTIES, MISSISSIPPI, GRANTED BY THE MISSISSIPPI PUBLIC SERVICE COMMISSION.Expenses $239,034 · revenue $307,399
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
- 64-0535898
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1992
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,870,384
- Income (IRS master file)
- $1,227,629
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,227,629 | $292,222 | $2,870,384 | XML |
| 990 | June 2024 | $307,037 | $287,260 | $1,706,781 | XML |
| 990 | June 2023 | $303,358 | $280,392 | $1,675,805 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 64-0535898).
Questions about PALMETTO WATER SYSTEM INC
- What is the EIN of PALMETTO WATER SYSTEM INC?
- The employer identification number (EIN) of PALMETTO WATER SYSTEM INC is 64-0535898.
- Is PALMETTO WATER SYSTEM INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1992.
- Are donations to PALMETTO WATER SYSTEM INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PALMETTO WATER SYSTEM 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 PALMETTO WATER SYSTEM 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 PALMETTO WATER SYSTEM 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 PALMETTO WATER SYSTEM INC?
- The 990 for the year ended June 30, 2025 names TOMMY PENNINGTON.
- Who are the officers and directors of PALMETTO WATER SYSTEM INC?
- The 990 for the year ended June 30, 2025 lists 5 people; 1 received compensation from the organization, the highest $37,835 (GARY WOOD, DIRECTOR).
- How much revenue does PALMETTO WATER SYSTEM INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,227,629, expenses of $292,222 and total assets of $2,870,384 at year end.
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