Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 56-0889942

SOUTH MILLS WATER ASSOCIATION INC

Tax-exempt · SOUTH MILLS, NC 27976

Financials

$1.2M$1.4M2023$438K$912K2024
Revenue Expenses · by fiscal year end
Financials of SOUTH MILLS WATER ASSOCIATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$438,465$912,414-$473,949$90,321$171$90,150
December 31, 2023990$1,162,655$1,388,355-$225,700$4,764,326$63,813$4,700,513
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$437,387
Investment income
$1,078
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$222,901
Salaries, compensation and benefits (total)
$250,118
Professional fundraising fees
$0
Legal fees
$75,483
Accounting fees
$435
Occupancy
$8,726
Depreciation
$85,430
Program services (functional)
$682,525
Management and general (functional)
$229,889

Balance sheet and other

Total assets, start of year
$4,764,326
Total assets, end of year
$90,321
Total liabilities, end of year
$171
Net assets, end of year
$90,150
Net assets without donor restrictions
$90,150
Gross receipts
$438,465
Employees
4
Year formed
1964
State of legal domicile
NC

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
MICHAEL ANDREWSDIRECTOR
Trustee or director
2$0
JAMES BURNHAMSECRETARY
Trustee or director, Officer
2$0
AL BOHNTREASURER
Trustee or director, Officer
2$0
FREDDIE O'NEALDIRECTOR
Trustee or director
2$0
ADAM RUSSELLPRESIDENT
Trustee or director, Officer
2$0
JOSEPH THOMPSONDIRECTOR
Trustee or director
2$0
990 for the year ended December 31, 2023: 6 people
NameTitleHours / weekCompensation
FREDDIE O'NEALDIRECTOR
Trustee or director
3$3,750
AL BOHNTREASURER
Trustee or director, Officer
3$3,600
ADAM RUSSELLVICE PRESIDE
Trustee or director, Officer
3$3,450
JAMES BURNHAMSECRETARY
Trustee or director, Officer
3$3,300
JOSEPH THOMPSONDIRECTOR
Trustee or director
3$2,700
MICHAEL ANDREWSDIRECTOR
Trustee or director
3$450

Address and contacts

Address (IRS master file)
PO BOX 279, SOUTH MILLS, NC 27976-0279
Principal officer (990 for 2024)
ADAM RUSSELL
Signed the 990
ADAM RUSSELL, PRESIDENT
Phone
(252) 771-5620
Return prepared by
DOWDY & OSBORNE LLP

Mission

THE ASSOCIATION PROVIDES A WATER SYSTEM FOR ITS MEMBERS.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDE WATER SERVICE TO ITS APPROXIMATE 1,400 MEMBERS.
    Expenses $682,525 · revenue $437,387

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
56-0889942
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1969
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$90,321
Income (IRS master file)
$438,465

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$438,465$912,414$90,321IRS
990December 2023$1,162,655$1,388,355$4,764,326XML
990December 2022$1,191,340$1,421,042$6,002,410IRS
990December 2021–––IRS
990December 2020–––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 56-0889942).

Questions about SOUTH MILLS WATER ASSOCIATION INC

What is the EIN of SOUTH MILLS WATER ASSOCIATION INC?
The employer identification number (EIN) of SOUTH MILLS WATER ASSOCIATION INC is 56-0889942.
Is SOUTH MILLS WATER ASSOCIATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1969.
Are donations to SOUTH MILLS WATER ASSOCIATION INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does SOUTH MILLS 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 SOUTH MILLS WATER ASSOCIATION INC 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 SOUTH MILLS WATER ASSOCIATION INC 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 SOUTH MILLS WATER ASSOCIATION INC?
The 990 for the year ended December 31, 2024 names ADAM RUSSELL.
Who are the officers and directors of SOUTH MILLS WATER ASSOCIATION INC?
The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
How much revenue does SOUTH MILLS WATER ASSOCIATION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $438,465, expenses of $912,414 and total assets of $90,321 at year end.

Other nonprofits in SOUTH MILLS

All nonprofits in SOUTH MILLS · North Carolina