TY 2014 Form 990

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(1) O'NEAL HAMMOCK........................................................................
DIRECTOR

1.00
.......................

(2) ED MANNING........................................................................
DIRECTOR

1.00
.......................

(3) EDDIE HOOD........................................................................
DIRECTOR

1.00
.......................

(4) STEPHEN MOTICHEK........................................................................
DIRECTOR

1.00
.......................

(5) STEVE HOLCOMB........................................................................
VICE PRESIDENT

1.00
.......................

(6) DOUG LILES........................................................................
SECRETARY

1.00
.......................

(7) RALPH BURKS........................................................................
PRESIDENT

1.00
.......................

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(A)
Name and business address

(B)
Description of services

Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet

Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII.

(A)
Total expenses

(B)
Program service expenses

(D)
Fundraising expenses

Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....

Grants and other assistance to domestic individuals. See Part IV, line 22 ....

Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............

Benefits paid to or for members ....

Compensation of current officers, directors, trustees, and key employees ....

Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....

Other salaries and wages ....

153,696

Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....

Other employee benefits .......

Payroll taxes ...........

16,000

Fees for services (non-employees):

Management ......

Legal .........

39,606

Accounting ...........

13,816

Lobbying ...........

Professional fundraising services. See Part IV, line 17

Investment management fees ......

Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ....

Advertising and promotion ....

900

Office expenses .......

6,445

Information technology ......

Royalties ..

Occupancy ...........

Travel ............

5,193

Payments of travel or entertainment expenses for any federal, state, or local public officials ......

Conferences, conventions, and meetings ....

Interest ...........

33,296

Payments to affiliates .......

Depreciation, depletion, and amortization .....

112,394

Insurance ..............

15,375

Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)

ENGINEERING FEES

173,883

LINE MAINTENANCE

67,810

UTILITIES

44,659

SHOP SUPPLIES

31,162

All other expenses

86,357

Total functional expenses. Add lines 1 through 24e

800,592

Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet

if following SOP 98-2 (ASC 958-720).

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
	1	Cash–non-interest-bearing .............	287,729	1	381,556
2	Savings and temporary cash investments .........	231,542	2	234,469
3	Pledges and grants receivable, net ...........		3
4	Accounts receivable, net .............	93,441	4	103,957
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
			5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
			6
7	Notes and loans receivable, net .............		7
8	Inventories for sale or use ..............		8
9	Prepaid expenses and deferred charges ..........		9
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	3,911,784
b	Less: accumulated depreciation .....	10b	2,337,541	1,668,279	10c	1,574,243
11	Investments—publicly traded securities ..........		11
12	Investments—other securities. See Part IV, line 11 .....		12
13	Investments—program-related. See Part IV, line 11 .....		13
14	Intangible assets ...............		14
15	Other assets. See Part IV, line 11 ...........	83,708	15	83,708
16	Total assets. Add lines 1 through 15 (must equal line 34)......	2,364,699	16	2,377,933
	17	Accounts payable and accrued expenses .........	22,380	17	5,136
18	Grants payable .................		18
19	Deferred revenue ................		19
20	Tax-exempt bond liabilities .............		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D..	119,531	21	83,282
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........		22
23	Secured mortgages and notes payable to unrelated third parties ..	1,199,870	23	1,267,992
24	Unsecured notes and loans payable to unrelated third parties ....		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................	2,096	25	2,905
26	Total liabilities. Add lines 17 through 25.........	1,343,877	26	1,359,315
		Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............		27
28	Temporarily restricted net assets ...........		28
29	Permanently restricted net assets ...........		29
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........	0	30	0
31	Paid-in or capital surplus, or land, building or equipment fund .....	0	31	0
32	Retained earnings, endowment, accumulated income, or other funds	1,020,822	32	1,018,618
33	Total net assets or fund balances ...........	1,020,822	33	1,018,618
34	Total liabilities and net assets/fund balances ........	2,364,699	34	2,377,933

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............

(A)
Beginning of year

(B)
End of year

Cash–non-interest-bearing .............

287,729

381,556

Savings and temporary cash investments .........

231,542

234,469

Pledges and grants receivable, net ...........

Accounts receivable, net .............

93,441

103,957

Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................

Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L

Notes and loans receivable, net .............

Inventories for sale or use ..............

Prepaid expenses and deferred charges ..........

10a

Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D

10a

3,911,784

Less: accumulated depreciation .....

10b

2,337,541

1,668,279

10c

1,574,243

Investments—publicly traded securities ..........

Investments—other securities. See Part IV, line 11 .....

Investments—program-related. See Part IV, line 11 .....

Intangible assets ...............

Other assets. See Part IV, line 11 ...........

83,708

Total assets. Add lines 1 through 15 (must equal line 34)......

2,364,699

2,377,933

Accounts payable and accrued expenses .........

22,380

5,136

Grants payable .................

Deferred revenue ................

Tax-exempt bond liabilities .............

Escrow or custodial account liability. Complete Part IV of Schedule D..

119,531

83,282

Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified

persons. Complete Part II of Schedule L..........

Secured mortgages and notes payable to unrelated third parties ..

1,199,870

1,267,992

Unsecured notes and loans payable to unrelated third parties ....

Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................

2,096

2,905

Total liabilities. Add lines 17 through 25.........

1,343,877

1,359,315

Organizations that follow SFAS 117 (ASC 958), check here MediumBullet

and complete lines 27 through 29, and lines 33 and 34.

Unrestricted net assets ..............

Temporarily restricted net assets ...........

Permanently restricted net assets ...........

Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet

and complete lines 30 through 34.

Capital stock or trust principal, or current funds ........

Paid-in or capital surplus, or land, building or equipment fund .....

Retained earnings, endowment, accumulated income, or other funds

1,020,822

1,018,618

Total net assets or fund balances ...........

1,020,822

1,018,618

Total liabilities and net assets/fund balances ........

2,364,699

2,377,933

	(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

		Amount
c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Description of property	(a) Cost or other basis (investment)	(c) Accumulated depreciation	(d) Book value
1a	Land .................	18,750		18,750
b	Buildings ................
c	Leasehold improvements ............
d	Equipment ................	3,893,034	2,337,541	1,555,493
e	Other .................
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......	1,574,243

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......	1	800,176
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................	2e	0
3	Subtract line 2e from line 1.....................	3	800,176
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.......................	4c	0
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5	800,176

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........	1	800,593
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d......................	2e	0
3	Subtract line 2e from line 1.....................	3	800,593
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.......................	4c	0
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5	800,593

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

NORTHEAST ITAWAMBA WATER ASSOCIATION

Employer identification number

64-0614589

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 7A	NORTHEAST ITAWAMBA WATER IS AN ASSOCIATION OF MEMBER/CUSTOMERS WHO VOTE ON THE GOVERNING BOARD
FORM 990, PART VI, SECTION A, LINE 8B	THERE ARE NO COMMITTEES
FORM 990, PART VI, SECTION B, LINE 11	FORM 990 IS MADE AVAILABLE TO THE BOARD FOR REVIEW BEFORE FILING
FORM 990, PART VI, SECTION C, LINE 19	THE ASSOCIATIONS PUBLIC DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART IX, LINE 24E	AUTO AND TRUCK: PROGRAM SERVICE EXPENSES 19,807. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,807. WATER PURCHASES: PROGRAM SERVICE EXPENSES 16,867. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,867. REPAIRS: PROGRAM SERVICE EXPENSES 10,544. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,544. CHEMICALS: PROGRAM SERVICE EXPENSES 10,230. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,230. BILLING EXPENSE: PROGRAM SERVICE EXPENSES 6,794. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,794. CONTRACT LABOR: PROGRAM SERVICE EXPENSES 5,078. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,078. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 5,070. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,070. TELEPHONE: PROGRAM SERVICE EXPENSES 3,587. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,587. PLANT SUPPLIES: PROGRAM SERVICE EXPENSES 1,881. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,881. UNIFORMS: PROGRAM SERVICE EXPENSES 1,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,500. SALES TAX EXPENSE: PROGRAM SERVICE EXPENSES 1,425. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,425. BANK CHARGES: PROGRAM SERVICE EXPENSES 1,296. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,296. TRAINING: PROGRAM SERVICE EXPENSES 1,176. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,176. POSTAGE: PROGRAM SERVICE EXPENSES 664. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 664. TAXES AND LICENSES: PROGRAM SERVICE EXPENSES 324. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 324. MISC: PROGRAM SERVICE EXPENSES 84. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84. FEES: PROGRAM SERVICE EXPENSES 30. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 30.
FORM 990, PART XI, LINE 9:	PRIOR PERIOD ADJ -1,788. ROUNDING

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: ORGANIZED TO FURNISH COMMUNITY WATER
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	7
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	7
5	Total number of individuals employed in calendar year 2014 (Part V, line 2a) ......	5	9
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	765,324	796,185
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	4,898	3,991
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	0	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	770,222	800,176
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	142,635	169,696
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	437,430	630,896
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	580,065	800,592
19	Revenue less expenses. Subtract line 18 from line 12.......	190,157	-416
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	2,364,699	2,377,933
21	Total liabilities (Part X, line 26).............	1,343,877	1,359,315
22	Net assets or fund balances. Subtract line 21 from line 20.....	1,020,822	1,018,618

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 800,592 including grants of $ ) (Revenue $ 800,176 )
	TO PROVIDE AN AFFORDABLE AND RELIABLE WATER SUPPLY FOR RURAL RESIDENTS WITHIN THE BOUNDARIES OF THE SYSTEM

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses800,592

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	0	0	0

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e

f	All other contributions, gifts, grants, and similar amounts not included above1f

g	Noncash contributions included in lines 1a-1f:$
h	Total. Add lines 1a-1f.......
			Business Code
2a	WATER SALES		221000	796,185	796,185
b
c
d
e
f	All other program service revenue .
g	Total. Add lines 2a–2f........			796,185
3	Investment income (including dividends, interest, and other similar amounts).......			3,991	3,991
4	Income from investment of tax-exempt bond proceeds..
5	Royalties...........
		(i) Real	(ii) Personal
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)
d	Net rental income or (loss).......
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory
b	Less: cost or other basis and sales expenses
c	Gain or (loss)
d	Net gain or (loss)..........
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ..
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..
Miscellaneous Revenue			Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See Instructions......			800,176	800,176	0	0

		(a)Current year	(b)Prior year	b (c)Two years back	(d)Three years back	(e)Four years back
1a	Beginning of year balance ....
b	Contributions ........
c	Net investment earnings, gains, and losses
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........
f	Administrative expenses ....
g	End of year balance ......

(a) Description of security or category (including name of security)		(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

1.(a) Description of liability		(b) Book value
Federal income taxes
ACCRUED EXPENSES		742
ACCRUED PAYROLL TAX		2,163







Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		2,905
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII