Myrtle Springs Water Supply Company
Nonprofit profile at a glance
- EIN
- 751232329
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Canton, TX, USA
- Phone
- 9038658402
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,576,187
- Expenses
- $867,771
- Assets
- $3,354,492
- Liabilities
- $1,052,826
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- FRANK MEYERS (Vice President)
- JOHN KIMBREW (President)
People named in this filing
- CONNIE HERNANDEZ (Director)
- DEAN GORELL (Director)
- BUSTER LEAVELL (Treasurer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide safe, high quaility water services to its community, while maintaining a standard of excellence in customer service and environmental conservation.
What it reported doing in 2025
Provide water to the cooperative members of rural area in myrtle springs, tx.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - 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: 15
- Transparency & Controls: 90
- Accountability: 100
- Sustainability: 77
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 12.7%; rating input score 13
- Program expense ratio: 23.2%; rating input score 23
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 7 of 7 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 44.9%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 3.87; rating input score 80; 80th percentile among comparable filings
- Liabilities to assets ratio: 0.31; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings
Growth
- Program expense growth: -3.9% per year; rating input score 0; 8th percentile among comparable filings
- Revenue growth: 8.7% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 4.3% per year; rating input score 100; 33rd percentile among comparable filings
Details
- Where the money goes: 12.7% of revenue deployed · 23.2% of spending went to programs
- Governance: 6 of 6 board members independent · 7 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 6 people listed
- Highest-paid contractors: 1 contractor listed · $279K reported
- Consistency: 28 of 28 current checks pass
- Schedules: 2 filed schedules
- Filing history: 16 filing years from 2010 to 2025
- Contacts: How to reach this organization
- 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 13/100.
- High — Financial Efficiency: Program expense ratio scored 23/100.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.