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Nonprofit · EIN 74-1542510

MILANO WATER SUPPLY CORP

Tax-exempt · MILANO, TX 76556

Financials

$1.1M$907K2023$1.3M$962K2024
Revenue Expenses · by fiscal year end
Financials of MILANO WATER SUPPLY CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,267,245$961,668$305,577$3,120,509$409,824$2,710,685
December 31, 2023990$1,082,217$906,627$175,590$2,876,136$471,028$2,405,108
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$191,025
of which government grants
$191,025
Program service revenue
$1,037,541
Investment income
$38,679
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$349,225
Salaries, compensation and benefits (total)
$429,683
Professional fundraising fees
$0
Accounting fees
$20,300
Travel
$10,197
Depreciation
$170,399
Program services (functional)
$695,264
Management and general (functional)
$266,404

Balance sheet and other

Total assets, start of year
$2,876,136
Total assets, end of year
$3,120,509
Total liabilities, end of year
$409,824
Net assets, end of year
$2,710,685
Land, buildings and equipment
$1,995,050
Net assets without donor restrictions
$2,710,685
Gross receipts
$1,267,245
Employees
8
Volunteers
0
Year formed
1964
State of legal domicile
TX

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
KEVIN TERRYPRESIDENT
Trustee or director, Officer
2$0
DAVID WESTBROOKVICE-PRESIDENT
Trustee or director, Officer
2$0
DAVID JACKSONSECRETARY/TREASURER
Trustee or director, Officer
2$0
BRENDA PRUETTMEMBER
Trustee or director
2$0
ARTHUR KELLEYMEMBER
Trustee or director
2$0
DOUGLAS TELGMEMBER
Trustee or director
2$0
LONNIE GRAVESMEMBER
Trustee or director
2$0
VIRGIL HURTMEMBER
Trustee or director
2$0
JOEY GAGEMEMBER
Trustee or director
2$0
990 for the year ended December 31, 2023: 9 people
NameTitleHours / weekCompensation
KEVIN TERRYPRESIDENT
Trustee or director, Officer
2$0
DAVID WESTBROOKVICE-PRESIDENT
Trustee or director, Officer
2$0
DAVID JACKSONSECRETARY/TREASURER
Trustee or director, Officer
2$0
BRENDA PRUETTMEMBER
Trustee or director
2$0
ARTHUR KELLEYMEMBER
Trustee or director
2$0
DOUGLAS TELGMEMBER
Trustee or director
2$0
LONNIE GRAVESMEMBER
Trustee or director
2$0
VIRGIL HURTMEMBER
Trustee or director
2$0
JOEY GAGEMEMBER
Trustee or director
2$0

Address and contacts

Address (IRS master file)
212 N FM 3242, MILANO, TX 76556-0000
Principal officer (990 for 2024)
KEVIN TERRY, PO BOX 181, MILANO, TX 76556
Signed the 990
KEVIN TERRY, PRESIDENT
Phone
(512) 455-2692
Return prepared by
SEIDEL SCHROEDER

Mission

PROVIDE POTABLE WELL WATER TO ABOUT 1300 RURAL MEMBERS.

990 for the year ended December 31, 2024

Program accomplishments

  • TO PROVIDE POTABLE WATER TO INDIVIDUALS AND BUSINESSES IN RURAL AREAS NOT SERVICED BY MUNICIPAL WATER SYSTEMS.
    Expenses $695,264 · revenue $1,037,541

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
74-1542510
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1967
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$3,120,509
Income (IRS master file)
$1,267,245

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,267,245$961,668$3,120,509IRS
990December 2023$1,082,217$906,627$2,876,136XML
990December 2022$1,186,170$866,214$2,701,927IRS
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 74-1542510).

Questions about MILANO WATER SUPPLY CORP

What is the EIN of MILANO WATER SUPPLY CORP?
The employer identification number (EIN) of MILANO WATER SUPPLY CORP is 74-1542510.
Is MILANO WATER SUPPLY CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1967.
Are donations to MILANO WATER SUPPLY CORP tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MILANO WATER SUPPLY CORP 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 MILANO WATER SUPPLY CORP 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 MILANO WATER SUPPLY CORP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MILANO WATER SUPPLY CORP?
The 990 for the year ended December 31, 2024 names KEVIN TERRY.
Who are the officers and directors of MILANO WATER SUPPLY CORP?
The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
How much revenue does MILANO WATER SUPPLY CORP have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,267,245, expenses of $961,668 and total assets of $3,120,509 at year end.

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