Nonprofit · EIN 75-2398330
LAKE PALO PINTO AREA WATER SUPPLY CORPORATION
Tax-exempt · GORDON, TX 76453
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,081,370 | $1,154,101 | -$72,731 | $3,946,418 | $1,812,429 | $2,133,989 |
| December 31, 2024 | 990 | $899,141 | $1,072,862 | -$173,721 | $4,059,561 | $1,852,841 | $2,206,720 |
| December 31, 2023 | 990 | $939,320 | $1,082,910 | -$143,590 | $4,366,196 | $1,985,755 | $2,380,441 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $120,735
- Program service revenue
- $957,418
- Investment income
- $3,217
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $177,445
- Salaries, compensation and benefits (total)
- $239,271
- Professional fundraising fees
- $0
- Accounting fees
- $15,025
- Occupancy
- $46,405
- Depreciation
- $373,062
- Program services (functional)
- $1,081,254
- Management and general (functional)
- $72,847
Balance sheet and other
- Total assets, start of year
- $4,059,561
- Total assets, end of year
- $3,946,418
- Total liabilities, end of year
- $1,812,429
- Net assets, end of year
- $2,133,989
- Land, buildings and equipment
- $2,859,801
- Net assets without donor restrictions
- $2,133,989
- Gross receipts
- $1,081,370
- Employees
- 4
- Volunteers
- 7
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN KOONSMAN | PRESIDENT Trustee or director, Officer | 2 | $0 |
| HARRY ROMINE | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| JERRY STREETER | SECRETARY/TR Trustee or director, Officer | 2 | $0 |
| RICHARD BEST | BOARD MEMBER Trustee or director | 2 | $0 |
| BRUCE ROGERS | BOARD MEMBER Trustee or director | 2 | $0 |
| LAURA JONES | BOARD MEMBER Trustee or director | 2 | $0 |
| WAYNE CAMPAIGN | BOARD MEMBER Trustee or director | 2 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN KOONSMAN | PRESIDENT Trustee or director, Officer | 2 | $0 |
| HARRY ROMINE | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| MICHAEL WOODS | SECRETARY/TR Trustee or director, Officer | 2 | $0 |
| RICHARD BEST | BOARD MEMBER Trustee or director | 2 | $0 |
| BRUCE ROGERS | BOARD MEMBER Trustee or director | 2 | $0 |
| LAURA JONES | BOARD MEMBER Trustee or director | 2 | $0 |
| WAYNE CAMPAIGN | BOARD MEMBER Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN KOONSMAN | PRESIDENT Trustee or director, Officer | 2 | $0 |
| HARRY ROMINE | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| MICHAEL WOODS | SECRETARY/TR Trustee or director, Officer | 2 | $0 |
| RICHARD BEST | BOARD MEMBER Trustee or director | 2 | $0 |
| LAURA JONES | BOARD MEMBER Trustee or director | 2 | $0 |
| BRUCE ROGERS | BOARD MEMBER Trustee or director | 2 | $0 |
| WAYNE CAMPAIGN | BOARD MEMBER Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 410, GORDON, TX 76453-0410
- Principal officer (990 for 2025)
- KAREN KOONSMAN, 2370 S LAKEVIEW DR, GORDON, TX 76453
- Signed the 990
- KAREN KOONSMAN, PRESIDENT
- Phone
- (940) 769-3345
- Return prepared by
- BOUCHER MORGAN & YOUNG PC CPA
Mission
TO PROVIDE LOW COST WATER SERVICE TO THE RESIDENTS OF THE LAKE PALO PINTO WATER AREA.
Program accomplishments
- THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE RESIDENTS OF THE LAKE PALO PINTO AREA WITH A LOW COST WATER SUPPLY SYSTEM WHERE MUNICIPAL WATER IS NOT AVAILABLE.Expenses $1,081,254 · revenue $957,418
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 75-2398330
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,946,418
- Income (IRS master file)
- $1,081,370
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,081,370 | $1,154,101 | $3,946,418 | XML |
| 990 | December 2024 | $899,141 | $1,072,862 | $4,059,561 | XML |
| 990 | December 2023 | $939,320 | $1,082,910 | $4,366,196 | XML |
| 990 | December 2022 | $1,003,964 | $1,006,763 | $4,602,701 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 75-2398330).
Questions about LAKE PALO PINTO AREA WATER SUPPLY CORPORATION
- What is the EIN of LAKE PALO PINTO AREA WATER SUPPLY CORPORATION?
- The employer identification number (EIN) of LAKE PALO PINTO AREA WATER SUPPLY CORPORATION is 75-2398330.
- Is LAKE PALO PINTO AREA WATER SUPPLY CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1992.
- Are donations to LAKE PALO PINTO AREA WATER SUPPLY CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LAKE PALO PINTO AREA WATER SUPPLY CORPORATION 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 PALO PINTO AREA WATER SUPPLY CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE PALO PINTO AREA WATER SUPPLY CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of LAKE PALO PINTO AREA WATER SUPPLY CORPORATION?
- The 990 for the year ended December 31, 2025 names KAREN KOONSMAN.
- Who are the officers and directors of LAKE PALO PINTO AREA WATER SUPPLY CORPORATION?
- The 990 for the year ended December 31, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does LAKE PALO PINTO AREA WATER SUPPLY CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,081,370, expenses of $1,154,101 and total assets of $3,946,418 at year end.
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