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Nonprofit · EIN 61-1282354

SOUTH EASTERN WATER ASSOC INC

Tax-exempt · SOMERSET, KY 42501

Financials

$5.7M$4.8M2023$6.7M$5.3M2024
Revenue Expenses · by fiscal year end
Financials of SOUTH EASTERN WATER ASSOC INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$6,698,966$5,317,852$1,381,114$33,125,781$11,499,593$21,626,188
December 31, 2023990$5,679,158$4,788,655$890,503$30,607,991$11,005,165$19,602,826
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$5,512,914
Investment income
$130,275
Other revenue
$1,055,777

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$40,000
Other salaries and wages
$660,394
Salaries, compensation and benefits (total)
$912,346
Professional fundraising fees
$0
Legal fees
$33,166
Accounting fees
$52,305
Travel
$1,819
Depreciation
$1,300,498
Program services (functional)
$4,957,237
Management and general (functional)
$360,615

Balance sheet and other

Total assets, start of year
$30,607,991
Total assets, end of year
$33,125,781
Total liabilities, end of year
$11,499,593
Net assets, end of year
$21,626,188
Land, buildings and equipment
$29,270,002
Net assets without donor restrictions
$19,096,597
Net assets with donor restrictions
$2,529,591
Gross receipts
$6,698,966
Employees
13
Year formed
1993
State of legal domicile
KY

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
MORRIS VAUGHNMANAGER
Highest-paid employee
40$99,136
BOBBY CROWDIRECTOR
Trustee or director
5$6,000
WADE BUMGARDNERDIRECTOR
Trustee or director
5$6,000
JOE D CRAWFORDDIRECTOR
Trustee or director
5$6,000
GRANT TREADODIRECTOR
Trustee or director
5$6,000
DWIGHT FAULKNERDIRECTOR
Trustee or director
5$6,000
DENNIS R FAULKNERDIRECTOR
Trustee or director
5$6,000
MARK O DAVISDIRECTOR
Trustee or director
5$4,000
990 for the year ended December 31, 2023: 9 people
NameTitleHours / weekCompensation
MARK O DAVISDIRECTOR
Trustee or director
5$0
GRANT TREADODIRECTOR
Trustee or director
5$0
DENNIS R FAULKNERDIRECTOR
Trustee or director
5$0
DWIGHT FAULKNERDIRECTOR
Trustee or director
5$0
BOBBY CROWDIRECTOR
Trustee or director
5$0
ERNEST STOUT JRDIRECTOR
Trustee or director
5$0
JOE D CRAWFORDDIRECTOR
Trustee or director
5$0
WADE BUMGARDNERDIRECTOR
Trustee or director
5$0
MORRIS VAUGHNMANAGER
Highest-paid employee
40$0

Address and contacts

Address (IRS master file)
6615 HIGHWAY 914, SOMERSET, KY 42501-3125
In care of
% JOE CRAWFORD
Signed the 990
JOE CRAWFORD, PRESIDENT
Phone
(606) 678-5501
Return prepared by
BARRY D DAULTON CPA PSC

Mission

TO PROVIDE WATER SUPPLY AND SERVICES TO THE MEMBERS OF THE ASSOCIATION

990 for the year ended December 31, 2024

Program accomplishments

  • WATER SERVICE AND SALES TO MEMBERS OF THE ASSOCIATION
    Expenses $4,957,237

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
61-1282354
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1996
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$33,125,781
Income (IRS master file)
$6,698,966

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$6,698,966$5,317,852$33,125,781XML
990December 2023$5,679,158$4,788,655$30,607,991XML
990December 2022$5,680,102$5,036,694$31,125,318IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 61-1282354).

Questions about SOUTH EASTERN WATER ASSOC INC

What is the EIN of SOUTH EASTERN WATER ASSOC INC?
The employer identification number (EIN) of SOUTH EASTERN WATER ASSOC INC is 61-1282354.
Is SOUTH EASTERN WATER ASSOC INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1996.
Are donations to SOUTH EASTERN WATER ASSOC INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does SOUTH EASTERN WATER ASSOC 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 EASTERN WATER ASSOC 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 EASTERN WATER ASSOC INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of SOUTH EASTERN WATER ASSOC INC?
The 990 for the year ended December 31, 2024 lists 8 people; 8 received compensation from the organization, the highest $99,136 (MORRIS VAUGHN, MANAGER).
How much revenue does SOUTH EASTERN WATER ASSOC INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $6,698,966, expenses of $5,317,852 and total assets of $33,125,781 at year end.

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