Billys Creek Rural Water Association

Nonprofit profile at a glance

EIN
640582487
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Water Valley, MS, USA
Phone
6624730019
Rating
50
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$332,775
Expenses
$358,939
Assets
$2,455,552
Liabilities
$1,511,344

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • LARRY P SPROUSE (PRESIDENT)
  • TOMMY MCCAIN (VICE PRESIDENT)

Highest reported compensation

  • TERESA MOORE (SECRETARY): $28,024 total reported compensation
  • LARRY P SPROUSE (PRESIDENT): $24,596 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide potable water to association members

What it reported doing in 2025

Provide portable water to approximately 848 rural households

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 77
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.9%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 6.84; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.7% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $356K in reported program spending
  • Leadership: top reported pay $28K · 3 people listed
  • Highest-paid contractors: 2 contractors listed · $1.1M reported
  • Consistency: 11 of 13 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.