TY 2021 Form 990

- TIN:

Form990

Department of the TreasuryInternal Revenue Service

Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)

Do not enter social security numbers on this form as it may be made public.

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

A For the 2021 calendar year, or tax year beginning 03-01-2021 , and ending 02-28-2022

BCheck if applicable: Address change Name change Initial return Final return/terminated Amended return Application pending

CName of organization
NATIONAL RURAL WATER ASSOCIATION

Doing business as

Number and street (or P.O. box if mail is not delivered to street address)
2915 S 13TH STREET

Room/suite

City or town, state or province, country, and ZIP or foreign postal code
DUNCAN, OK73533

D Employer identification number

73-1006395

E Telephone number

G Gross receipts $ 63,514,839

F Name and address of principal officer:
MATT HOLMES
2915 S 13TH STREET
DUNCAN,OK73533

Tax-exempt status: 501(c)(3) 501(c) ( 6 ) LeftBullet

(insert no.) 4947(a)(1) or 527

Website:

WWW.NRWA.ORG

H(a)

Is this a group return for
subordinates? Yes No

H(b)

Are all subordinates
included?

Yes No

If "No," attach a list. See instructions.

H(c)

Group exemption number MediumBullet

K Form of organization: Corporation Trust Association Other MediumBullet

L Year of formation: 1976

M State of legal domicile: OK

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: TO STRENGTHEN STATE ASSOCIATIONS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	49
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	49
5	Total number of individuals employed in calendar year 2021 (Part V, line 2a) ......	5	40
6	Total number of volunteers (estimate if necessary) .............	6	49
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	143,449
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	68,708

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	51,830,863	53,518,815
9	Program service revenue (Part VIII, line 2g) .........	923,850	1,573,730
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	975,972	2,013,913
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	244,463	174,021
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	53,975,148	57,280,479
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	43,276,007	44,176,631
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)	4,983,791	5,060,942
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)....	1,780,467	2,869,288
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	50,040,265	52,106,861
19	Revenue less expenses. Subtract line 18 from line 12.......	3,934,883	5,173,618
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	65,416,148	71,914,464
21	Total liabilities (Part X, line 26).............	15,628,712	18,320,937
22	Net assets or fund balances. Subtract line 21 from line 20.....	49,787,436	53,593,527

Part II

Signature Block

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign Here

	Signature of officer	Date

	Type or print name and title

Paid Preparer Use Only

Print/Type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name MediumBullet

Firm's EIN MediumBullet

Firm's address MediumBullet

Phone no.

May the IRS discuss this return with the preparer shown above? (see instructions) ..........YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y Form 990 (2021)

Form 990 (2021)

Page 2

Part III

Statement of Program Service Accomplishments

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

Briefly describe the organization’s mission: TO CULTIVATE OPPORTUNITIES FOR STATE ASSOCIATIONS TO BE SUCCESSFUL FOR THE BENEFITS OF THEIR MEMBERS.

Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ..................... Yes No

If "Yes," describe these new services on Schedule O.

Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ........................... Yes No

If "Yes," describe these changes on Schedule O.

Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.


4a	(Code: ) (Expenses $ 49,024,566 including grants of $ 44,176,631 ) (Revenue $ 1,602,567 )
	NRWA PROVIDES TRAINING AND TECHNICAL ASSISTANCE THROUGH 49 AFFILIATED STATE RURAL WATER ASSOCIATIONS, THAT CURRENTLY HAVE OVER 31,000 UTILITY SYSTEM MEMBERS. RURAL WATER TRAINING AND TECHNICAL ASSISTANCE COVERS EVERY ASPECT OF OPERATING, MANAGING AND FINANCING WATER AND WASTEWATER UTILITIES.

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 expenses49,024,566

Form 990 (2021)

Page 3

Part IV

Checklist of Required Schedules

Yes

Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................

Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. ...

Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I Click to see attachment

.............

Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........

Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part III Click to see attachment

Yes

Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I Click to see attachment

.........................

Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II Click to see attachment

....

Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III Click to see attachment

..............

Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV Click to see attachment

..............

Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......

If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.

Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment

...................

11a

Yes

Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII Click to see attachment

.......

11b

Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII Click to see attachment

.......

11c

Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX Click to see attachment

............

11d

Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X Click to see attachment

11e

Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X Click to see attachment

11f

Yes

12a

Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII Click to see attachment

......................

12a

Yes

Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment

12b

Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E

14a

Did the organization maintain an office, employees, or agents outside of the United States? .....

14a

Yes

Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........

14b

Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....

Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...

Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....

Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............

Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................

20a

Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....

20a

If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?

20b

Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..... Click to see attachment

Yes

Form 990 (2021)

Page 4

Part IV

Checklist of Required Schedules (continued)

Yes

Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment

Yes

Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment

Yes

24a

Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............

24a

Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...

24b

Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............

24c

Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...

24d

25a

Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....

25a

Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................

25b

Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........

Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?

If "Yes," complete

Schedule L, Part III.........................

Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):

A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................

28a

A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....

28b

A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................

28c

Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..

Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................

Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I

Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................

Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............ Click to see attachment

Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1......................... Click to see attachment

Yes

35a

Did the organization have a controlled entity within the meaning of section 512(b)(13)?

35a

If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...

35b

Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............

Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI Click to see attachment

Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............

Yes

Part V

Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........

Yes

Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..

Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .

Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................

Yes

Form 990 (2021)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance (continued)

Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. See instructions.

Yes

Did the organization have unrelated business gross income of $1,000 or more during the year?...

Yes

If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...

Yes

At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..

If "Yes," enter the name of the foreign country: MediumBullet

See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..

Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?

If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............

Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...

If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................

Organizations that may receive deductible contributions under section 170(c).

Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................

If "Yes," did the organization notify the donor of the value of the goods or services provided? .....

Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................

If "Yes," indicate the number of Forms 8282 filed during the year ....

Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?

Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..

If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................

If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................

Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........

Sponsoring organizations maintaining donor advised funds.

Did the sponsoring organization make any taxable distributions under section 4966?........

Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...

Section 501(c)(7) organizations. Enter:

Initiation fees and capital contributions included on Part VIII, line 12 ...

10a

Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities

10b

Section 501(c)(12) organizations. Enter:

Gross income from members or shareholders .........

11a

Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........

11b

12a

Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?

12a

If "Yes," enter the amount of tax-exempt interest received or accrued during the year.

12b

Section 501(c)(29) qualified nonprofit health insurance issuers.

Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.

13a

Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....

13b

Enter the amount of reserves on hand ............

13c

14a

Did the organization receive any payments for indoor tanning services during the tax year?.....

14a

If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..

14b

Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.

Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.

Section 501(c)(21) organizations. Did the trust, any disqualified person, or mine operator engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.

Form 990 (2021)

Page 6

Part VI

Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

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

Section A. Governing Body and Management

Yes

Enter the number of voting members of the governing body at the end of the tax year

If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.

Enter the number of voting members included in line 1a, above, who are independent

Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................

Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .

Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .

Did the organization become aware during the year of a significant diversion of the organization’s assets? .

Did the organization have members or stockholders? ................

Yes

Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................

Yes

Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................

Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:

The governing body? .......................

Yes

Each committee with authority to act on behalf of the governing body? ............

Yes

Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......

Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)

Yes

10a

Did the organization have local chapters, branches, or affiliates? ............

10a

Yes

If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?

10b

Yes

11a

Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................

11a

Yes

Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....

12a

Did the organization have a written conflict of interest policy? If "No," go to line 13.......

12a

Yes

Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................

12b

Yes

Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................

12c

Yes

Did the organization have a written whistleblower policy? ...............

Yes

Did the organization have a written document retention and destruction policy? .........

Yes

Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?

The organization’s CEO, Executive Director, or top management official ...........

15a

Yes

Other officers or key employees of the organization ................

15b

If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.

16a

Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................

16a

If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............

16b

Section C. Disclosure

List the states with which a copy of this Form 990 is required to be filed MediumBullet

Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.

Own website Another's website Upon request Other (explain in Schedule O)

Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.

State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBullet

THE ORGANIZATION2915 S 13TH STREET DUNCAN,OK73533 (580) 252-0629

Form 990 (2021)

Page 7

Part VII

Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

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

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees

1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet

List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the
organization and any related organizations.

List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.

Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)		(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) CAMERON MCKAY...................................................................... EXECUTIVE DIRECTOR	0.10 .................	X	X	0	0	0
(2) CHRIS KENYON...................................................................... SECRETARY	0.10 .................	X	X	0	0	0
(3) DAVID BAIRD...................................................................... PRESIDENT	0.10 .................	X	X	0	0	0
(4) DAVID PETERSON...................................................................... TREASURER	0.10 .................	X	X	0	0	0
(5) JOHN O'CONNELL III...................................................................... SENIOR VICE PRESIDENT	0.10 .................	X	X	0	0	0
(6) KENT WATSON...................................................................... PAST PRESIDENT	0.10 .................	X	X	0	0	0
(7) PAUL FULGHAM...................................................................... EXECUTIVE DIRECTOR	0.10 .................	X	X	0	0	0
(8) PHILLIP COMBS...................................................................... VICE PRESIDENT	0.10 .................	X	X	0	0	0
(9) TOM GOULETTE...................................................................... EXECUTIVE DIRECTOR	0.10 .................	X	X	0	0	0
(10) ALAN HAUGHT...................................................................... MEMBER	0.10 .................	X		0	0	0
(11) ALLEN KELM...................................................................... MEMBER	0.10 .................	X		0	0	0
(12) BILL SHROYER...................................................................... MEMBER	0.10 .................	X		0	0	0
(13) BRAD ANDERSEN...................................................................... MEMBER	0.10 .................	X		0	0	0
(14) BRUCE B BOTTOMLEY...................................................................... MEMBER	0.10 .................	X		0	0	0
(15) CHUCK F MCVEY...................................................................... MEMBER	0.10 .................	X		0	0	0
(16) CLIFFORD KIP MATTHEWS...................................................................... MEMBER	0.10 .................	X		0	0	0
(17) DANNIE MCMILLAN...................................................................... MEMBER	0.10 .................	X		0	0	0

Form 990 (2021)

Page 8

Part VII

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)				(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(18) DAVID WALLER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(19) DON ZUERN........................................................................ MEMBER	0.10 .......................	X				0	0	0
(20) GEORGE CRUM........................................................................ MEMBER	0.10 .......................	X				0	0	0
(21) JAMES GOBEILLE........................................................................ MEMBER	0.10 .......................	X				0	0	0
(22) JAMES MACKIE........................................................................ MEMBER	0.10 .......................	X				0	0	0
(23) JANA LITTLEWOOD........................................................................ MEMBER	0.10 .......................	X				0	0	0
(24) JEFF DAY........................................................................ MEMBER	0.10 .......................	X				0	0	0
(25) JOHN CHOATE........................................................................ MEMBER	0.10 .......................	X				0	0	0
(26) JOHN L COVINGTON........................................................................ MEMBER	0.10 .......................	X				0	0	0
(27) JOHN L JONES........................................................................ MEMBER	0.10 .......................	X				0	0	0
(28) JON THORNTON........................................................................ MEMBER	0.10 .......................	X				0	0	0
(29) KEVIN COLLIGAN........................................................................ MEMBER	0.10 .......................	X				0	0	0
(30) KEVIN MRAZ........................................................................ MEMBER	0.10 .......................	X				0	0	0
(31) LARRY WASLAND........................................................................ MEMBER	0.10 .......................	X				0	0	0
(32) LESLIE ANDERSON........................................................................ MEMBER	0.10 .......................	X				0	0	0
(33) LINDA EVANS........................................................................ MEMBER	0.10 .......................	X				0	0	0
(34) MACK LEE........................................................................ MEMBER	0.10 .......................	X				0	0	0
(35) MATT RENCHER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(36) MICHELE SCHOMMER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(37) NEIL CARPENTER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(38) RANDAL PLEIMA........................................................................ MEMBER	0.10 .......................	X				0	0	0
(39) RANDOLPH HALL........................................................................ MEMBER	0.10 .......................	X				0	0	0
(40) RICK JEFFARES........................................................................ MEMBER	0.10 .......................	X				0	0	0
(41) ROBERT MOORE........................................................................ MEMBER	0.10 .......................	X				0	0	0
(42) ROBERT MUNRO........................................................................ MEMBER	0.10 .......................	X				0	0	0
(43) RUSSELL COOPER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(44) SHELBY JACKSON........................................................................ MEMBER	0.10 .......................	X				0	0	0
(45) STEVE FLETCHER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(46) TOM DELBRIDGE........................................................................ MEMBER	0.10 .......................	X				0	0	0
(47) TOM SPEER........................................................................ MEMBER	0.10 .......................	X				0	0	0
(48) TONY CARRASCO........................................................................ MEMBER	0.10 .......................	X				0	0	0
(49) TONY HOWARD........................................................................ MEMBER	0.10 .......................	X				0	0	0
(50) MATTHEW HOLMES........................................................................ CEO	48.00 .......................		X			337,659	0	44,446
(51) BRIAN CHURCHMAN........................................................................ CFO	44.50 .......................0.50		X			197,601	0	40,119
(52) WILLIAM SIMPSON........................................................................ LEGISLATIVE DIRECTOR	43.00 .......................			X		326,948	0	47,154
(53) MICHAEL KEEGAN........................................................................ LEGISLATIVE ANALYST	40.00 .......................				X	865,546	0	39,315
(54) MICHAEL PRESTON........................................................................ LEGISLATIVE ANALYST	40.00 .......................				X	168,267	0	19,649
(55) BRAD REED........................................................................ PROGRAM MANAGER	40.00 .......................				X	117,836	0	33,028
(56) ANTHONY PRINCE........................................................................ DEVELOPMENT MANAGER	40.00 .......................				X	100,737	0	31,990

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	2,114,594	0	255,701

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

Yes

Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............

For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................

Yes

Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........

Section B. Independent Contractors

Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.

(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

Form 990 (2021)

Page 9

Part VIII

Statement of Revenue

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

(A)
Total revenue

(B)
Related or
exempt
function
revenue

(D)
Revenue
excluded from
tax under sections
512 - 514

1a	Federated campaigns..		1a
b	Membership dues..		1b	1,371,420
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e	52,147,395

f	All other contributions, gifts, grants, and similar amounts not included above		1f

g	Noncash contributions included in lines 1a - 1f:$		1g

h Total. Add lines 1a-1f.......		53,518,815

		Business Code
2a	CONFERENCES	900099	906,902	906,902
b	ASSET MANAGEMENT PROGRAM	900099	527,519	527,519
c	AFFINITY PROGRAMS	900099	92,401	92,401
d	TRAINING	900099	33,025	33,025
e	ASDWA	900099	13,883	13,883
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		1,573,730

3 Investment income (including dividends, interest, and othersimilar amounts) ......			1,360,656			1,360,656
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents			6a
b	Less: rental expenses			6b
c	Rental income or (loss)			6c
d	Net rental income or (loss).......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory		6,887,617	7a
b	Less: cost or other basis and sales expenses		6,234,360	7b
c	Gain or (loss)		653,257	7c
d	Net gain or (loss).........			653,257			653,257
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a	ADVERTISING		511120	143,449		143,449
b	AFFILIATE SERVICES		900099	28,837	28,837
c	SETTLEMENT INCOME		900099	1,735			1,735
d	All other revenue ....
e	Total. Add lines 11a–11d ......			174,021
12	Total revenue. See instructions.....			57,280,479	1,602,567	143,449	2,015,648

Form 990 (2021)

Page 10

Part IX

Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	44,136,631	44,136,631
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	40,000	40,000
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	535,260	339,155	196,105
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	2,881,766	1,825,965	1,055,801
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	304,153	192,720	111,433
9	Other employee benefits .......	1,078,360	683,278	395,082
10	Payroll taxes ...........	261,403	165,632	95,771
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	48,799	27,637	21,162
c	Accounting ...........	35,530	20,122	15,408
d	Lobbying ...........	26,592	15,060	11,532
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......	183,321	103,824	79,497
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	20,000	11,327	8,673
12	Advertising and promotion ....	6,945	3,932	3,013
13	Office expenses .......	206,024	116,682	89,342
14	Information technology ......
15	Royalties ..
16	Occupancy ...........	305,736	173,154	132,582
17	Travel ............	315,825	211,791	104,034
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	540,946	306,365	234,581
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	56,030	31,733	24,297
23	Insurance ...	61,816	35,010	26,806
24	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.)
a	SUPPORT & SUPPORT MATER	346,571	196,281	150,290
b	SMALL TOOLS & EQUIPMENT	127,883	72,427	55,456
c	STATE EXPENSE REIMBURSE	90,113	51,036	39,077
d	SPECIAL PROJECTS	86,823	49,172	37,651
e	All other expenses	410,334	215,632	194,702
25	Total functional expenses. Add lines 1 through 24e	52,106,861	49,024,566	3,082,295	0
26	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 if following SOP 98-2 (ASC 958-720).

Form 990 (2021)

Page 11

Part X

Balance Sheet

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

				(A) Beginning of year		(B) End of year

1	Cash–non-interest-bearing ........			845,074	1	1,611,923
2	Savings and temporary cash investments .........			21,500,659	2	19,386,186
3	Pledges and grants receivable, net ......			7,647,657	3	9,410,773
4	Accounts receivable, net .............			615,232	4	751,014
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........			4,593,218	7	3,970,563
8	Inventories for sale or use ............			10,793	8	12,323
9	Prepaid expenses and deferred charges ......			194,635	9	213,285
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,133,653
b	Less: accumulated depreciation	10b	698,681	481,681	10c	434,972
11	Investments—publicly traded securities .			29,127,199	11	36,123,425
12	Investments—other securities. See Part IV, line 11 .....			400,000	12	0
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........				15
16	Total assets. Add lines 1 through 15 (must equal line 33)...			65,416,148	16	71,914,464

17	Accounts payable and accrued expenses .....	719,495	17	748,273
18	Grants payable ...	5,704,023	18	8,399,622
19	Deferred revenue .........	9,205,194	19	9,173,042
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
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		25
26	Total liabilities. Add lines 17 through 25..	15,628,712	26	18,320,937

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	49,787,436	27	53,593,527
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	49,787,436	32	53,593,527
33	Total liabilities and net assets/fund balances ........	65,416,148	33	71,914,464

Form 990 (2021)

Page 12

Part XI

Reconcilliation of Net Assets

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

Total revenue (must equal Part VIII, column (A), line 12) ............

57,280,479

Total expenses (must equal Part IX, column (A), line 25) ............

52,106,861

Revenue less expenses. Subtract line 2 from line 1 ..............

5,173,618

Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..

49,787,436

Net unrealized gains (losses) on investments ...............

-1,367,527

Donated services and use of facilities .................

Investment expenses .....................

Prior period adjustments .....................

Other changes in net assets or fund balances (explain in Schedule O) ........

Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))

53,593,527

Part XII

Financial Statements and Reporting

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

Yes

Accounting method used to prepare the Form 990: Cash Accrual Other
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.

Were the organization’s financial statements compiled or reviewed by an independent accountant?

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

Were the organization’s financial statements audited by an independent accountant?

Yes

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?

Yes

If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?

Yes

If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.

Yes

Form 990 (2021)

Additional Data

Software ID:
Software Version:

Form 990, Special Condition Description:

Special Condition Description

- TIN:

SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service

Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

SchCMd Bullet

Complete if the organization is described below. SchCMd Bullet

Attach to Form 990 or Form 990-EZ.
SchCMd Bullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public
Inspection

If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet

Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet

Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet

Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet

Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet

Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet

Section 501(c)(4), (5), or (6) organizations: Complete Part III.

Name of the organization

NATIONAL RURAL WATER ASSOCIATION

Employer identification number

73-1006395

Part I-A

Complete if the organization is exempt under section 501(c) or is a section 527 organization.

Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

Political campaign activity expenditures. See instructions .................................................................... SchCMd Bullet

Volunteer hours for political campaign activities. See instructions ..................................................................

Part I-B

Complete if the organization is exempt under section 501(c)(3).

Enter the amount of any excise tax incurred by the organization under section 4955 ................................ SchCMd Bullet

Enter the amount of any excise tax incurred by organization managers under section 4955 ....................... SchCMd Bullet

If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................

Yes No

Was a correction made? ......................................................................................................................

Yes No

If "Yes," describe in Part IV.

Part I-C

Complete if the organization is exempt under section 501(c), except section 501(c)(3).

Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... SchCMd Bullet

Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................ SchCMd Bullet

Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b........... SchCMd Bullet

Did the filing organization file Form 1120-POL for this year? ...................................................................

Yes No

Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.

(a) Name	(b) Address	(c) EIN	(d) Amount paid from filing organization's funds. If none, enter -0-.	(e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6

For Paperwork Reduction Act Notice, see the instructions for Form 990.

Cat. No. 50084S

Schedule C (Form 990) 2021

Page 2

Part II-A

Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).

A Check SchCMd Bullet

if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet

if the filing organization checked box A and "limited control" provisions apply.

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................
b	Total lobbying expenditures to influence a legislative body (direct lobbying) ........................
c	Total lobbying expenditures (add lines 1a and 1b) ............................................................
d	Other exempt purpose expenditures ...............................................................................
e	Total exempt purpose expenditures (add lines 1c and 1d) ..................................................
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.
	If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
	Not over $500,00020% of the amount on line 1e.
	Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
	Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
	Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
	Over $17,000,000$1,000,000.

g	Grassroots nontaxable amount (enter 25% of line 1f) .................................................
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................
j	If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting section 4911 tax for this year? ...................................................................................................................	Yes No

4-Year Averaging Period Under Section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2018	(b) 2019	(c) 2020	(d) 2021	(e) Total

2a	Lobbying nontaxable amount

b	Lobbying ceiling amount (150% of line 2a, column(e))

c	Total lobbying expenditures

d	Grassroots nontaxable amount

e	Grassroots ceiling amount (150% of line 2d, column (e))

f	Grassroots lobbying expenditures

Schedule C (Form 990) 2021

Page 3

Part II-B

Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).

For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.

(a)

Yes|No

(b)

Amount

During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:

Volunteers? ...........................................................................................................

Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........

Media advertisements? ...................................................................................................

Mailings to members, legislators, or the public? .............................................................................

Publications, or published or broadcast statements? ...........................................................

Grants to other organizations for lobbying purposes? ..........................................................

Direct contact with legislators, their staffs, government officials, or a legislative body? .......................

Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................

Other activities? ...................................................................................................................

Total. Add lines 1c through 1i ....................................................................................................

Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....

If "Yes," enter the amount of any tax incurred under section 4912 ...........................................

If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................

If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................

Part III-A

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).

Yes

Were substantially all (90% or more) dues received nondeductible by members? ...............................................

Yes

Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................

Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................

Part III-B

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."

Dues, assessments and similar amounts from members ......................................................................

Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).

Current year .............................................................................................................................

Carryover from last year ............................................................................................................

Total ...........................................................................................................................................

Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .

If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................

Taxable amount of lobbying and political expenditures. See Instructions .........................................

Part IV

Supplemental Information

Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation

Schedule C (Form 990) 2021

Additional Data

Software ID:
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SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
SchDMd Bullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

Name of the organization

NATIONAL RURAL WATER ASSOCIATION

Employer identification number

73-1006395

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(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 ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax 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 7/25/06, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... SchDMd Bullet

(ii)

Assets included in Form 990, Part X ............................... SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

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

Cat. No. 52283D

Schedule D (Form 990) 2021

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(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 ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Term endowment SchDMd Bullet

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....	10,000		10,000
b	Buildings ....	859,862	458,971	400,891
c	Leasehold improvements
d	Equipment ....	58,663	51,414	7,249
e	Other .....	205,128	188,296	16,832
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				434,972

Schedule D (Form 990) 2021

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(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........
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)
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

Schedule D (Form 990) 2021

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	55,941,116
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	-1,367,526
b	Donated services and use of facilities .........	2b	83,253
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................			2e	-1,284,273
3	Subtract line 2e from line 1..................			3	57,225,389
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	55,090
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................			4c	55,090
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	57,280,479

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	52,135,024
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a	83,253
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................			2e	83,253
3	Subtract line 2e from line 1...................			3	52,051,771
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	55,090
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................			4c	55,090
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	52,106,861

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
PART X, LINE 2:	THE ASSOCIATION IS A NON-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. CERTAIN ACTIVITIES OF THE ASSOCIATION ARE SUBJECT TO INCOME TAXES BECAUSE THEY ARE UNRELATED TO THE ASSOCIATION'S EXEMPT PURPOSE. NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED SINCE SUCH ACTIVITIES HAVE HISTORICALLY NOT GENERATED SIGNIFICANT TAXABLE INCOME. THE ASSOCIATION EVALUATES AND ACCOUNTS FOR ITS UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH ASC TOPIC 740, "INCOME TAXES," INCLUDING THE ASSOCIATION'S TAX POSITION AS A TAX-EXEMPT, NON-PROFIT ENTITY. THROUGH ITS EVALUATION OF THE ASSOCIATION'S UNCERTAIN TAX POSITIONS, MANAGEMENT HAS DETERMINED THAT NO UNCERTAIN TAX POSITIONS EXISTED AS OF FEBRUARY 28, 2021 AND FEBRUARY 29, 2020, WHICH WOULD REQUIRE THE ASSOCIATION TO RECORD A LIABILITY FOR THE UNCERTAIN TAX POSITIONS IN ITS FINANCIAL STATEMENTS. THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAXING AUTHORITIES FOR YEARS BEFORE 2017.

Return Reference

Explanation

PART X, LINE 2:

THE ASSOCIATION IS A NON-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. CERTAIN ACTIVITIES OF THE ASSOCIATION ARE SUBJECT TO INCOME TAXES BECAUSE THEY ARE UNRELATED TO THE ASSOCIATION'S EXEMPT PURPOSE. NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED SINCE SUCH ACTIVITIES HAVE HISTORICALLY NOT GENERATED SIGNIFICANT TAXABLE INCOME. THE ASSOCIATION EVALUATES AND ACCOUNTS FOR ITS UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH ASC TOPIC 740, "INCOME TAXES," INCLUDING THE ASSOCIATION'S TAX POSITION AS A TAX-EXEMPT, NON-PROFIT ENTITY. THROUGH ITS EVALUATION OF THE ASSOCIATION'S UNCERTAIN TAX POSITIONS, MANAGEMENT HAS DETERMINED THAT NO UNCERTAIN TAX POSITIONS EXISTED AS OF FEBRUARY 28, 2021 AND FEBRUARY 29, 2020, WHICH WOULD REQUIRE THE ASSOCIATION TO RECORD A LIABILITY FOR THE UNCERTAIN TAX POSITIONS IN ITS FINANCIAL STATEMENTS. THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAXING AUTHORITIES FOR YEARS BEFORE 2017.

Schedule D (Form 990) 2021

Additional Data

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Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

Open to Public
Inspection

Name of the organization
NATIONAL RURAL WATER ASSOCIATION

Employer identification number
73-1006395

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(h) Purpose of grant or assistance
(1) ALABAMA RURAL WATER ASSOC 2576 BELL BLVD MONTGOMERY,AL36117	63-0733389	501(C)(6)	1,061,188	SUB-AWARD
(2) ALASKA RURAL WATER ASSOC 1075 CHECK STREET SUITE 106 WASILLA,AK99654	92-0175291	501(C)(3)	725,451	SUB-AWARD
(3) RURAL WATER OF ARIZONA 879 N PLAZA DRIVE SUITE A101 APACHE JUNCTION,AZ85120	86-0660020	501(C)(6)	552,325	SUB-AWARD
(4) ARKANSAS RURAL WATER ASSOC PO BOX 860 LONOKE,AR72086	71-0494563	501(C)(6)	1,279,283	SUB-AWARD
(5) ATLANTIC STATE WATER & WASTEWATER ASSOC 11 HIGH STREET SUITE 204 SUFFIELD,CT06078	01-0502709	501(C)(6)	404,387	SUB-AWARD
(6) CALIFORNIA RURAL WATER ASSOC 1234 NORTH MARKET BLVD SACRAMENTO,CA95834	68-0224404	501(C)(6)	1,016,396	SUB-AWARD
(7) COLORADO RURAL WATER ASSOC 176 WEST PALMER LAKE DRIVE PUEBLO WEST,CO81007	84-0837786	501(C)(6)	1,050,553	SUB-AWARD
(8) DELAWARE RURAL WATER ASSOC 210 VICKERS DRIVE MILFORD,DE19963	51-0328726	501(C)(6)	727,998	SUB-AWARD
(9) EVERGREEN RURAL WATER ASSOCIATION OF WASHINGTON PO BOX 2300 SHELTON,WA98584	91-1651960	501(C)(6)	1,052,121	SUB-AWARD
(10) FLORIDA RURAL WATER ASSOC 2970 WELLINGTON CIRCLE TALLAHASSEE,FL32309	59-1934383	501(C)(3)	979,804	SUB-AWARD
(11) GEORGIA RURAL WATER ASSOC PO BOX 383 BARNESVILLE,GA30204	58-1373517	501(C)(6)	980,450	SUB-AWARD
(12) GRANITE STATE RURAL WATER ASSOC PO BOX 596 47 MAIN STREET WALPOLE,NH03608	20-3427007	501(C)(6)	567,267	SUB-AWARD
(13) HAWAII RURAL WATER ASSOC 65-118 MAMALAHOA HWY SUITE 2D KAMUELA,HI96743	27-0711752	501(C)(3)	872,514	SUB-AWARD
(14) IDAHO RURAL WATER ASSOC 6065 WEST CORPORAL LANE BOISE,ID83704	82-0416513	501(C)(3)	946,443	SUB-AWARD
(15) ILLINOIS RURAL WATER ASSOC PO BOX 49 TAYLORVILLE,IL62568	37-1075126	501(C)(6)	1,162,788	SUB-AWARD
(16) ALLIANCE OF INDIANA RURAL WATER ASSOC 555 WEST JEFFERSON STREET FRANKLIN,IN46131	20-4215691	501(C)(6)	1,123,882	SUB-AWARD
(17) IOWA RURAL WATER ASSOC 4221 S 22ND AVENUE EAST NEWTON,IA50208	42-1077034	501(C)(6)	697,448	SUB-AWARD
(18) KANSAS RURAL WATER ASSOC PO BOX 226 SENECA,KS66538	48-0849346	501(C)(3)	1,167,028	SUB-AWARD
(19) KENTUCKY RURAL WATER ASSOC 1151 OLD PORTER PIKE BOWLING GREEN,KY42103	61-0960314	501(C)(6)	1,211,757	SUB-AWARD
(20) LOUISIANA RURAL WATER ASSOC PO BOX 180 KINDER,LA70648	72-0839514	501(C)(6)	1,189,360	SUB-AWARD
(21) MAINE RURAL WATER ASSOC PO BOX 263 RICHMOND,ME04357	01-0366057	501(C)(6)	575,925	SUB-AWARD
(22) MARYLAND RURAL WATER ASSOC PO BOX 225 WOODBINE,MD21797	52-1701257	501(C)(6)	604,940	SUB-AWARD
(23) MASS RURAL WATER ASSOC 781 MILLERS FALL ROAD NORTHFIELD,MA01360	20-3451540	501(C)(6)	656,892	SUB-AWARD
(24) MICHIGAN RURAL WATER ASSOC 2127 UNIVERSITY PARK DRIVE SUITE 340 HARRISON,MI48864	38-2946726	501(C)(3)	1,044,740	SUB-AWARD
(25) MINNESOTA RURAL WATER ASSOC 217 12TH AVENUE SE ELBOW LAKE,MN56531	41-1283589	501(C)(3)	1,158,724	SUB-AWARD
(26) MISSISSIPPI RURAL WATER ASSOC 5400 N MIDWAY ROAD RAYMOND,MS39154	64-0610464	501(C)(3)	1,166,938	SUB-AWARD
(27) MISSOURI RURAL WATER ASSOC 901 RICHARDSON DRIVE ASHLAND,MO65010	43-1071770	501(C)(6)	1,360,643	SUB-AWARD
(28) MONTANA RURAL WATER SYSTEMS INC 525 CENTRAL AVENUE M6 GREAT FALLS,MT59401	81-0387265	501(C)(3)	795,686	SUB-AWARD
(29) NEBRASKA RURAL WATER ASSOC 3390 PONDEROSA DRIVE WAHOO,NE68066	47-0600532	501(C)(6)	804,790	SUB-AWARD
(30) NEVADA RURAL WATER ASSOC 363 FAIRVIEW DRIVE CARSON CITY,NV89701	94-3132670	501(C)(6)	540,850	SUB-AWARD
(31) NEW JERSEY WATER ASSOC 505 US HIGHWAY 9 WARETOWN,NJ08734	22-3067737	501(C)(6)	784,639	SUB-AWARD
(32) NEW MEXICO RURAL WATER ASSOC 8336 WASHINGTON PLACE NE ALBUQUERQUE,NM87113	85-0353693	501(C)(6)	796,722	SUB-AWARD
(33) NEW YORK RURAL WATER ASSOC PO BOX 487 CLAVERACK,NY12513	22-2257996	501(C)(6)	1,171,334	SUB-AWARD
(34) NORTH CAROLINA RURAL WATER ASSOC PO BOX 540 WELCOME,NC27374	56-1152393	501(C)(6)	1,096,813	SUB-AWARD
(35) NORTH DAKOTA RURAL WATER SYSTEMS ASSOC 2718 GATEWAY AVENUE SUITE 201 BISMARCK,ND585030585	45-0337818	501(C)(3)	688,032	SUB-AWARD
(36) OHIO RURAL WATER ASSOC 55 WHITES ROAD ZANESVILLE,OH43701	31-0917953	501(C)(6)	804,383	SUB-AWARD
(37) OKLAHOMA RURAL WATER ASSOC PO BOX 95349 OKLAHOMA CITY,OK73143	23-7329973	501(C)(6)	1,108,483	SUB-AWARD
(38) OREGON ASSOC OF WATER UTILITIES 935 NORTH MAIN STREET INDEPENDENCE,OR97351	93-0702098	501(C)(6)	795,333	SUB-AWARD
(39) PENNSYLVANIA RURAL WATER ASSOC 138 WEST BISHOP STREET BELLEFONTE,PA16823	25-1584601	501(C)(6)	810,570	SUB-AWARD
(40) SOUTH CAROLINA RURAL WATER ASSOC 128 STONEMARK LANE CLINTON,SC29210	57-0646037	501(C)(6)	873,739	SUB-AWARD
(41) SOUTH DAKOTA ASSOC OF RURAL WATER 203 WEST CENTER STREET SIOUX FALLS,SD57042	46-0340547	501(C)(6)	800,232	SUB-AWARD
(42) TENNESSEE ASSOC OF UTILITIES PO BOX 2529 MURFREESBORO,TN371332529	62-1045726	501(C)(6)	1,132,703	SUB-AWARD
(43) TEXAS RURAL WATER ASSOC 1616 RIO GRANDE STREET AUSTIN,TX78701	23-7014779	501(C)(6)	1,091,170	SUB-AWARD
(44) RURAL WATER ASSOC OF UTAH 14572 S 790 W STE A203 BLUFFDALE,UT84065	94-2716320	501(C)(3)	794,598	SUB-AWARD
(45) VERMONT RURAL WATER ASSOC 20 SUSIE WILSON ROAD SUITE B ESSEX JUNCTION,VT054522827	03-0282848	501(C)(6)	706,090	SUB-AWARD
(46) VIRGINIA RURAL WATER ASSOC 2138 SYCAMORE AVENUE BUENA VISTA,VA24416	52-1596825	501(C)(3)	813,710	SUB-AWARD
(47) WEST VIRGINIA RURAL WATER ASSOC 100 YOUNG STREET SCOTT DEPOT,WV25560	31-1139841	501(C)(6)	824,626	SUB-AWARD
(48) WISCONSIN RURAL WATER ASSOC 350 WATER WAY PLOVER,WI54467	39-1617442	501(C)(6)	936,056	SUB-AWARD
(49) WYOMING ASSOC OF RURAL WATER SYSTEMS PO BOX 1750 GLENROCK,WY82637	45-2048727	501(C)(6)	628,826	SUB-AWARD

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

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

Cat. No. 50055P

Schedule I (Form 990) 2021

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1) SCHOLARSHIPS	19	38,000
(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference	Explanation
PART I, LINE 2:	EACH STATE AFFILIATE IS REQUIRED TO HAVE A SET OF BOOKS FOR EACH PROGRAM THEY HAVE AND SUBMIT A MONTHLY FINANCIAL STATEMENT. NRWA REVIEWS THE FINANCIALS AND, IF WARRANTED, THE STATE IS ASKED TO SUBMIT A DETAILED GENERAL LEDGER AND/OR COPIES OF SUPPORTED DOCUMENTATION FOR ITEMS IN QUESTION. THE STATE AFFILIATE IS ALSO REQUIRED TO SUBMIT AN ANNUAL AUDIT AND THEIR DETAILED BUDGET, WHICH ARE ALSO REVIEWED BY NRWA.

Return Reference

Explanation

PART I, LINE 2:

EACH STATE AFFILIATE IS REQUIRED TO HAVE A SET OF BOOKS FOR EACH PROGRAM THEY HAVE AND SUBMIT A MONTHLY FINANCIAL STATEMENT. NRWA REVIEWS THE FINANCIALS AND, IF WARRANTED, THE STATE IS ASKED TO SUBMIT A DETAILED GENERAL LEDGER AND/OR COPIES OF SUPPORTED DOCUMENTATION FOR ITEMS IN QUESTION. THE STATE AFFILIATE IS ALSO REQUIRED TO SUBMIT AN ANNUAL AUDIT AND THEIR DETAILED BUDGET, WHICH ARE ALSO REVIEWED BY NRWA.

Schedule I (Form 990) 2021

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
SchJMediumBullet

Attach to Form 990.
SchJMediumBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

Name of the organization

NATIONAL RURAL WATER ASSOCIATION

Employer identification number

73-1006395

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

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

Cat. No. 50053T

Schedule J (Form 990) 2021

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1MICHAEL KEEGAN LEGISLATIVE ANALYST	(i) (ii)	865,546 ------------- 0	0 ------------- 0	0 ------------- 0	0 ------------- 0	39,315 ------------- 0	904,861 ------------- 0	0 ------------- 0
2MATTHEW HOLMES CEO	(i) (ii)	337,659 ------------- 0	0 ------------- 0	0 ------------- 0	8,694 ------------- 0	35,752 ------------- 0	382,105 ------------- 0	0 ------------- 0
3WILLIAM SIMPSON LEGISLATIVE DIRECTOR	(i) (ii)	326,948 ------------- 0	0 ------------- 0	0 ------------- 0	0 ------------- 0	47,154 ------------- 0	374,102 ------------- 0	0 ------------- 0
4BRIAN CHURCHMAN CFO	(i) (ii)	197,601 ------------- 0	0 ------------- 0	0 ------------- 0	6,092 ------------- 0	34,027 ------------- 0	237,720 ------------- 0	0 ------------- 0
5MICHAEL PRESTON LEGISLATIVE ANALYST	(i) (ii)	168,267 ------------- 0	0 ------------- 0	0 ------------- 0	0 ------------- 0	19,649 ------------- 0	187,916 ------------- 0	0 ------------- 0
6BRAD REED PROGRAM MANAGER	(i) (ii)	117,836 ------------- 0	0 ------------- 0	0 ------------- 0	0 ------------- 0	33,028 ------------- 0	150,864 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2021

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation
PART I, LINE 3	THE CEO IS EVALUATED BY EACH MEMBER OF THE BOARD AND THEN THE CEO EVALUATION COMMITTEE CONSISTING OF THE PRESIDENT, SENIOR VICE PRESIDENT, AND VICE PRESIDENT REVIEW THE EVALUATIONS AND DO A FORMAL EVALUATION WITH THE CEO. THIS COMMITTEE WILL RECOMMEND SALARY ADJUSTMENTS FOR INCLUSION IN THE BUDGET WHICH WILL BE APPROVED BY THE BOARD. THE COMMITTEE WILL USE OUTSIDE SURVEYS OF LIKE ORGANIZATIONS TO DETERMINE THE ANNUAL ADJUSTMENT.

Return Reference

Explanation

PART I, LINE 3

THE CEO IS EVALUATED BY EACH MEMBER OF THE BOARD AND THEN THE CEO EVALUATION COMMITTEE CONSISTING OF THE PRESIDENT, SENIOR VICE PRESIDENT, AND VICE PRESIDENT REVIEW THE EVALUATIONS AND DO A FORMAL EVALUATION WITH THE CEO. THIS COMMITTEE WILL RECOMMEND SALARY ADJUSTMENTS FOR INCLUSION IN THE BUDGET WHICH WILL BE APPROVED BY THE BOARD. THE COMMITTEE WILL USE OUTSIDE SURVEYS OF LIKE ORGANIZATIONS TO DETERMINE THE ANNUAL ADJUSTMENT.

Schedule J (Form 990) 2021

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990)

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

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

Open to Public
Inspection

Name of the organization

NATIONAL RURAL WATER ASSOCIATION

Employer identification number

73-1006395

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 1A	AN EXECUTIVE COMMITEE IS ELECTED FROM THE FULL BOARD. THIS COMMITTEE HAS THE AUTHORITY AND POWER TO MAKE DECISIONS FOR THE FULL BOARD AND THE ASSOCIATION.
FORM 990, PART VI, SECTION A, LINE 6	THE VOTING MEMBERS OF NRWA ARE THE STATE ASSOCIATIONS AND ARE ALSO SUB-AWARDEES TO OUR GRANTS.
FORM 990, PART VI, SECTION A, LINE 7A	EACH STATE ASSOCIATION IS A VOTING MEMBER AND HAS ONE SEAT ON THE BOARD OF DIRECTIONS OF NATIONAL RURAL WATER ASSOCIATION (NRWA). ONE MEMBER IS ELECTED FROM EACH STATE ASSOCIATION AND NOMINATED TO THE BOARD OF NRWA. THE MEMBERSHIP THEN VOTES ON THE NOMINEES AT THE ANNUAL BUSINESS MEETING THAT IS HELD EACH FALL.
FORM 990, PART VI, SECTION B, LINE 11B	THE FORM 990 IS MADE AVAILABLE TO THE GOVERNING BOARD BY POSTING TO THE BOARD MEMBER'S PRIVATE WEBSITE. THE FORM 990 IS ALSO REVIEWED BY THE AUDITORS AS PART OF THE ANNUAL AUDIT.
FORM 990, PART VI, SECTION B, LINE 12C	THE POLICY IS FOR BOARD MEMBERS AND IS POSTED ON THE BOARD'S PRIVATE WEBSITE AND REVIEWED ANNUALLY BY THE PROGRAM REVIEW COMMITTEE OF THE BOARD OF DIRECTORS. THIS COMMITTEE OVERSEES SUCH POLICIES OF THE ORGANIZATION.
FORM 990, PART VI, SECTION B, LINE 15A	THE CEO IS EVALUATED BY EACH MEMBER OF THE BOARD AND THEN THE CEO EVALUATION COMMITTEE CONSISTING OF THE PRESIDENT, SENIOR VICE PRESIDENT, AND VICE PRESIDENT REVIEW THE EVALUATIONS AND DO A FORMAL EVALUATION WITH THE CEO. THIS COMMITTEE WILL RECOMMEND SALARY ADJUSTMENTS FOR INCLUSION IN THE BUDGET WHICH WILL BE APPROVED BY THE BOARD. THE COMMITTEE WILL USE OUTSIDE SURVEYS OF LIKE ORGANIZATIONS TO DETERMINE THE ANNUAL ADJUSTMENT.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XII, LINE 2C	THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.

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

Cat. No. 51056K

Schedule O (Form 990) 2021

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBullet

Attach to Form 990.
MediumBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2021

Open to Public Inspection

Name of the organization

NATIONAL RURAL WATER ASSOCIATION

Employer identification number

73-1006395

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1)JOE & JEAN PALMER ENDOWMENT FUND 2915 S 13TH STREET DUNCAN,OK73533 73-1593688	PROVIDE SCHOLARSHIPS	OK	501(C)(3)	PF	N/A		No
(2)WATER INDUSTRY ADVANCEMENT AND SUSTAINABILITY INSTITUTE 2915 S 13TH STREET DUNCAN,OK73533 82-2979724	EDUCATION REGARDING THE ADVANCEMENT & SUSTAINABILITY OF WATER AND WASTEWATER	OK	501(C)(3)	LINE 7	N/A		No

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

Cat. No. 50135Y

Schedule R (Form 990) 2021

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	Yes	No

Schedule R (Form 990) 2021

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

Yes

c Gift, grant, or capital contribution from related organization(s) ............................

d Loans or loan guarantees to or for related organization(s) ............................

Yes

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

m Performance of services or membership or fundraising solicitations by related organization(s) .................

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

Yes

o Sharing of paid employees with related organization(s) ............................

Yes

p Reimbursement paid to related organization(s) for expenses ............................

Yes

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

s Other transfer of cash or property from related organization(s) ............................

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) JOE & JEAN PALMER ENDOWMENT FUND	B	16,000	CASH PAYMENT

Schedule R (Form 990) 2021

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Schedule R (Form 990) 2021

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation

Schedule R (Form 990) 2021

Additional Data

Software ID:
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