TY 2023 Form 990

(A)
Name and title

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

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

(1) CHARLES DUBE......................................................................
PRESIDENT

2.00
.................

3,600

(2) ANTHONY PIERCE......................................................................
MEMBER

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

(3) PATRICK HEITER......................................................................
VICE PRESIDENT

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

3,000

(4) DON JOFFE......................................................................
MEMBER

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

2,400

(5) MICHAEL METZ......................................................................
SECRETARY

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

(A)
Name and title

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

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

(B)
Description of services

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

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


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d


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

(a) Description	(b) Book value
(1)CONSTRUCTION IN PROGRESS	9,072,509
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........	9,072,509

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	4,063,774
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d .....................	2e	0
3	Subtract line 2e from line 1..................	3	4,063,774
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................	4c	0
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5	4,063,774

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	2,271,670
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d....................	2e	0
3	Subtract line 2e from line 1...................	3	2,271,670
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.....................	4c	0
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5	2,271,670

Return Reference	Explanation
PART X, LINE 2:	THE SYSTEM UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTRIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2023, THE SYSTEM HAS NO UNCERTAIN TAX PROVISIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.

- 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.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

BELFOREST WATER SYSTEM INC

Employer identification number

63-0649171

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 7A	MEMBERS OF THE WATER SYSTEM ELECT BOARD MEMBERS AT THE ANNUAL MEETING VIA A VOTE OF THE MEMBERSHIP, EACH BOARD MEMBER SERVES A THREE YEAR TERM
FORM 990, PART VI, SECTION B, LINE 11B	A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
FORM 990, PART VI, SECTION C, LINE 19	DOCUMENTS THAT ARE REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC ARE PROVIDED UPON REQUEST.
FORM 990, PART IX, LINE 24E	TRUCK EXPENSE: PROGRAM SERVICE EXPENSES 41,434. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 41,434. COMPUTER & SOFTWARE: PROGRAM SERVICE EXPENSES 27,944. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,944. TELEPHONE: PROGRAM SERVICE EXPENSES 26,840. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,840. BILLING SERVICE: PROGRAM SERVICE EXPENSES 19,052. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,052. ENGINEERING FEES: PROGRAM SERVICE EXPENSES 18,911. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,911. BOARD RELATED EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,815. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,815. UNIFORMS: PROGRAM SERVICE EXPENSES 16,456. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,456. MISC. EMPLOYEE EXPENSES - TRAINING: PROGRAM SERVICE EXPENSES 14,475. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,475. BANK FEES: PROGRAM SERVICE EXPENSES 13,474. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,474. SMALL TOOLS: PROGRAM SERVICE EXPENSES 13,430. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,430. MEETINGS: PROGRAM SERVICE EXPENSES 9,437. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,437. COMMUNITY INVOLVEMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 7,336. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,336. RENTAL: PROGRAM SERVICE EXPENSES 2,900. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,900. TAXES AND LECENSES: PROGRAM SERVICE EXPENSES 2,758. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,758. DUES: PROGRAM SERVICE EXPENSES 2,111. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,111. SECURITY: PROGRAM SERVICE EXPENSES 1,950. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,950. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 338. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 338.

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

Cat. No. 51056K

Schedule O (Form 990) 2023

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO PROVIDE WATER SERVICE TO THE COMMUNITY OF BELFOREST IN BALDWIN COUNTY, ALABAMA
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	5
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	5
5	Total number of individuals employed in calendar year 2023 (Part V, line 2a) ......	5	14
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	1,000
9	Program service revenue (Part VIII, line 2g) .........	3,615,245	4,059,190
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	6,843	3,584
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	0	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	3,622,088	4,063,774
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	830,749	1,122,966
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)....	1,490,269	1,148,704
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	2,321,018	2,271,670
19	Revenue less expenses. Subtract line 18 from line 12.......	1,301,070	1,792,104
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	19,102,556	25,986,872
21	Total liabilities (Part X, line 26).............	2,778,239	7,870,451
22	Net assets or fund balances. Subtract line 21 from line 20.....	16,324,317	18,116,421

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 1,712,247 including grants of $ ) (Revenue $ )
	OWNS AND OPERATES A WATER DISTRIBUTION SYSTEM IN THE COMMUNITY OF BELFOREST IN BALDWIN COUNTY, ALABAMA.

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

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

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses1,712,247

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	9,000	0	0

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





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

1a	Federated campaigns..		1a
b	Membership dues..		1b
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e

f	All other contributions, gifts, grants, and similar amounts not included above		1f	1,000

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

h Total. Add lines 1a-1f.......		1,000

		Business Code
2a	WATER SALES	221000	3,066,391	3,066,391
b	CONNECTION & METER FEE	221000	733,970	733,970
c	IMPACT FEES	221000	157,750	157,750
d	LATE CHARGES	221000	84,566	84,566
e	MISCELLANEOUS	221000	16,513	16,513
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		4,059,190

3 Investment income (including dividends, interest, and othersimilar amounts) ......			3,584			3,584
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a
b	Less: rental expenses	6b
c	Rental income or (loss)	6c
d	Net rental income or (loss).......
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a
b	Less: cost or other basis and sales expenses	7b
c	Gain or (loss)	7c
d	Net gain or (loss).........
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
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See instructions.....			4,063,774	4,059,190	0	3,584

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
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 ...........	9,000		9,000
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........	821,395	505,333	316,062
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	42,905	24,227	18,678
9	Other employee benefits .......	187,145	65,033	122,112
10	Payroll taxes ...........	62,521	37,998	24,523
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	15,102	15,102
c	Accounting ...........	42,222	42,222
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)
12	Advertising and promotion ....
13	Office expenses .......	38,419	31,357	7,062
14	Information technology ......
15	Royalties ..
16	Occupancy ...........
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........	135	135
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..
23	Insurance ...	98,015	98,015
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	METERS	277,155	277,155
b	REPAIRS AND MAINTENANCE	187,084	153,329	33,755
c	CHEMICALS AND TESTING	148,257	148,257
d	UTILITIES	104,654	102,574	2,080
e	All other expenses	237,661	211,510	26,151
25	Total functional expenses. Add lines 1 through 24e	2,271,670	1,712,247	559,423	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).

1	Cash–non-interest-bearing ........			780,238	1	856,479
2	Savings and temporary cash investments .........			4,844,929	2	4,692,009
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............			234,580	4	461,063
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 ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			131,741	9	143,232
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	15,656,196
b	Less: accumulated depreciation	10b	4,894,616	10,711,523	10c	10,761,580
11	Investments—publicly traded securities .				11
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			2,399,545	15	9,072,509
16	Total assets. Add lines 1 through 15 (must equal line 33)...			19,102,556	16	25,986,872

17	Accounts payable and accrued expenses .....	162,622	17	317,330
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		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 ..	2,272,259	23	7,204,198
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	343,358	25	348,923
26	Total liabilities. Add lines 17 through 25..	2,778,239	26	7,870,451

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	16,324,317	27	18,116,421
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 ...........	16,324,317	32	18,116,421
33	Total liabilities and net assets/fund balances ........	19,102,556	33	25,986,872

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 ......

1a	Land .....	426,806		426,806
b	Buildings ....	432,191	158,004	274,187
c	Leasehold improvements
d	Equipment ....	14,737,604	4,727,673	10,009,931
e	Other .....	59,595	8,939	50,656
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				10,761,580

(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.)

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
METER DEPOSITS	348,923








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	348,923
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