North Lenoir Water Corporation

Kinston, NC
Tax-exempt since Jan. 1971
EIN: 56-0946914

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Revenue

$4.11M (2024)

Expenses

$4.17M (2024)

Total Assets

$22.3M (2024)

Total Liabilities

$8.57M (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$4,109,811

Expenses

$4,172,552

Net Income

-$62,741

Net Assets

$13,751,366

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,901,253	94.9%
Investment Income	$111,513	2.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$200	0.0%
Net Inventory Sales	$0
Other Revenue	$96,845	2.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$713,949	17.1%

Assets/Debt
Total Assets	$22,317,832
Total Liabilities	$8,566,466
Net Assets	$13,751,366

Club or Co-Op Income
Income From Members	$3,962,779
Income From Other Sources	$148,550

Compensation

Key Employees and Officers	Compensation	Related	Other
Wade Davenport (Secretary)	$0	$0	$0
Seth Dawson (Vice Pres)	$0	$0	$0
Jesse Ray Farmer (Director)	$0	$0	$0
Harold Jones (Director)	$0	$0	$0
Danny Smith Jr (Director)	$0	$0	$0
Jimmy Parks (President)	$0	$0	$0
Dennis Pope (Director)	$0	$0	$0
Anthony Riggs (Director)	$0	$0	$0
Victor Styles (Treasurer)	$0	$0	$0
Ronnie Waters (Director)	$0	$0	$0

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990

Filed on Feb. 21, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$3,951,251

Expenses

$4,000,999

Net Income

-$49,748

Net Assets

$13,813,904

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,739,219	94.6%
Investment Income	$144,710	3.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$67,322	1.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$32,700	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$668,932	16.7%

Assets/Debt
Total Assets	$22,571,021
Total Liabilities	$8,757,117
Net Assets	$13,813,904

Club or Co-Op Income
Income From Members	$3,793,002
Income From Other Sources	$144,709

Compensation

Key Employees and Officers	Compensation	Related	Other
Wade Davenport (Secretary)	$0	$0	$0
Seth Dawson (Vice Pres)	$0	$0	$0
Jesse Ray Farmer (Director)	$0	$0	$0
Harold Jones (Director)	$0	$0	$0
Danny Smith Jr (Director)	$0	$0	$0
Jimmy Parks (President)	$0	$0	$0
Dennis Pope (Director)	$0	$0	$0
Anthony Riggs (Director)	$0	$0	$0
Victor Styles (Treasurer)	$0	$0	$0
Ronnie Waters (Director)	$0	$0	$0

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990

Filed on Feb. 22, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$3,775,851

Expenses

$3,770,193

Net Income

$5,658

Net Assets

$13,833,785

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,648,541	96.6%
Investment Income	$36,890	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$90,420	2.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$30,450	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$620,510	16.5%

Assets/Debt
Total Assets	$22,867,037
Total Liabilities	$9,033,252
Net Assets	$13,833,785

Club or Co-Op Income
Income From Members	$3,698,881
Income From Other Sources	$68,059

Compensation

Key Employees and Officers	Compensation	Related	Other
Wade Davenport (Secretary)	$0	$0	$0
Seth Dawson (Vice Pres)	$0	$0	$0
Jesse Ray Farmer (Director)	$0	$0	$0
Harold Jones (Director)	$0	$0	$0
Danny Smith Jr (Director)	$0	$0	$0
Jimmy Parks (President)	$0	$0	$0
Dennis Pope (Director)	$0	$0	$0
Anthony Riggs (Director)	$0	$0	$0
Victor Styles (Treasurer)	$0	$0	$0

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990

Filed on Feb. 16, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$3,574,728

Expenses

$3,751,045

Net Income

-$176,317

Net Assets

$14,078,528

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,376,929	94.5%
Investment Income	$41,089	1.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$10,544	0.3%
Net Inventory Sales	$0
Other Revenue	$146,166	4.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$30,300	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$581,729	15.5%

Assets/Debt
Total Assets	$23,372,151
Total Liabilities	$9,293,623
Net Assets	$14,078,528

Club or Co-Op Income
Income From Members	$3,422,121
Income From Other Sources	$142,063

Compensation

Key Employees and Officers	Compensation	Related	Other
Wade Davenport (Secretary)	$0	$0	$0
Seth Dawson (Vice Pres)	$0	$0	$0
Jesse Ray Farmer (Director)	$0	$0	$0
Harold Jones (Director)	$0	$0	$0
Danny Smith Jr (Director)	$0	$0	$0
Jimmy Parks (President)	$0	$0	$0
Dennis Pope (Director)	$0	$0	$0
Anthony Riggs (Director)	$0	$0	$0
Victor Styles (Treasurer)	$0	$0	$0

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990

Filed on Feb. 17, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$3,900,951

Expenses

$3,695,698

Net Income

$205,253

Net Assets

$14,197,680

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,224,933	82.7%
Investment Income	$75,602	1.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$14,000	0.4%
Net Inventory Sales	$0
Other Revenue	$586,416	15.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$31,200	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$578,075	15.6%

Assets/Debt
Total Assets	$24,032,383
Total Liabilities	$9,834,703
Net Assets	$14,197,680

Club or Co-Op Income
Income From Members	$3,258,067
Income From Other Sources	$628,394

Compensation

Key Employees and Officers	Compensation	Related	Other
Wade Davenport (Secretary)	$0	$0	$0
Seth Dawson (Vice Pres)	$0	$0	$0
Jesse Ray Farmer (Director)	$0	$0	$0
Harold Jones (Director)	$0	$0	$0
Danny Smith Jr (Director)	$0	$0	$0
Jimmy Parks (President)	$0	$0	$0
Dennis Pope (Director)	$0	$0	$0
Anthony Riggs (Director)	$0	$0	$0
Victor Styles (Treasurer)	$0	$0	$0

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990

Filed on May 17, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$4,508,612

Expenses

$4,727,508

Net Income

-$218,896

Net Assets

$13,879,058

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,185,266	70.6%
Investment Income	$45,431	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$5,051	0.1%
Net Inventory Sales	$0
Other Revenue	$1,272,864	28.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$33,000	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$601,112	12.7%

Assets/Debt
Total Assets	$23,577,590
Total Liabilities	$9,698,532
Net Assets	$13,879,058

Club or Co-Op Income
Income From Members	$3,234,182
Income From Other Sources	$1,273,792

Compensation

Key Employees and Officers	Compensation	Related	Other
Victor Styles (Treasurer)	$5,850	$0	$0
F Wade Davenport (Secretary)	$5,250	$0	$0
Seth Dawson (Vice Pres)	$5,250	$0	$0
Jimmy Parks (President)	$5,250	$0	$0
Anthony Riggs (Director)	$3,000	$0	$0
Danny Smith Jr (Director)	$2,250	$0	$0
Dennis Pope (Director)	$2,250	$0	$0
Jesse Ray Farmer (Director)	$1,950	$0	$0
Harold Jones (Director)	$1,950	$0	$0

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990

Filed on April 6, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$5,846,848

Expenses

$5,659,665

Net Income

$187,183

Net Assets

$13,933,692

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,158,128	54.0%
Investment Income	$38,397	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$88,547	1.5%
Net Inventory Sales	$0
Other Revenue	$2,561,776	43.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$32,800	0.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$555,454	9.8%

Assets/Debt
Total Assets	$24,425,891
Total Liabilities	$10,492,199
Net Assets	$13,933,692

Club or Co-Op Income
Income From Members	$3,204,179
Income From Other Sources	$2,641,414

Compensation

Key Employees and Officers	Compensation	Related	Other
Victor Styles (Treasurer)	$5,800	$0	$0
Jimmy Parks (President)	$5,050	$0	$0
F Wade Davenport (Secretary)	$5,050	$0	$0
Seth Dawson (Vice Pres)	$4,150	$0	$0
Anthony Riggs (Director)	$3,150	$0	$0
Jesse Ray Farmer (Director)	$2,100	$0	$0
Harold Jones (Director)	$1,950	$0	$0
Dennis Pope (Director)	$1,950	$0	$0
Danny Smith Jr (Director)	$1,500	$0	$0
Fleming Taylor (Former Treas)	$1,200	$0	$0
George Everett (Former Vice)	$900	$0	$0

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990

Filed on March 19, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$3,288,072

Expenses

$3,511,362

Net Income

-$223,290

Net Assets

$13,874,430

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,159,849	96.1%
Investment Income	$34,019	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$94,204	2.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$36,200	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$461,625	13.1%

Assets/Debt
Total Assets	$24,407,509
Total Liabilities	$10,533,079
Net Assets	$13,874,430

Club or Co-Op Income
Income From Members	$3,131,710
Income From Other Sources	$270,868

Compensation

Key Employees and Officers	Compensation	Related	Other
George Everett (Vice Pres)	$7,100	$0	$0
Jimmy Parks (President)	$4,100	$0	$0
Fleming Taylor (Treasurer)	$3,800	$0	$0
F Wade Davenport (Secretary)	$3,800	$0	$0
Harold Jones (Director)	$2,400	$0	$0
Jesse Ray Farmer (Director)	$2,250	$0	$0
Seth Dawson (Director)	$2,100	$0	$0
Anthony Riggs (Director)	$1,650	$0	$0
Victor Styles (Director)	$1,500	$0	$0

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990

Filed on March 27, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$3,184,358

Expenses

$3,410,357

Net Income

-$225,999

Net Assets

$13,979,823

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,175,226	99.7%
Investment Income	$9,132	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$33,100	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$523,583	15.4%

Assets/Debt
Total Assets	$24,363,343
Total Liabilities	$10,383,520
Net Assets	$13,979,823

Club or Co-Op Income
Income From Members	$3,158,571
Income From Other Sources	$25,787

Compensation

Key Employees and Officers	Compensation	Related	Other
Terry Koonce (President)	$7,750	$0	$0
Tommy Daughety (Treasurer)	$7,350	$0	$0
George Everett (Vice Pres)	$6,700	$0	$0
F Wade Davenport (Director)	$2,250	$0	$0
Harold Jones (Secretary)	$2,200	$0	$0
Fleming Taylor (Director)	$1,950	$0	$0
Jesse Ray Farmer (Director)	$1,800	$0	$0
Jimmy Parks (Director)	$1,350	$0	$0
Seth Dawson (Director)	$0	$0	$0

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990

Filed on Feb. 27, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$3,279,382

Expenses

$3,305,528

Net Income

-$26,146

Net Assets

$14,183,090

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,323,991	> 100%
Investment Income	$23,981	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$68,590
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$569,846	17.2%

Assets/Debt
Total Assets	$24,675,893
Total Liabilities	$10,492,803
Net Assets	$14,183,090

Club or Co-Op Income
Income From Members	$3,262,360
Income From Other Sources	$52,892

Compensation

Key Employees and Officers	Compensation	Related	Other
Terry Koonce (President)	$8,350	$0	$0
George Everett (Vice Pres)	$6,550	$0	$0
Tommy Daughety (Treasurer)	$3,050	$0	$0
Harold Jones (Secretary)	$2,400	$0	$0
Jw Roberts Jr (Director)	$1,950	$0	$0
F Wade Davenport (Director)	$600	$0	$0
Jesse Ray Farmer (Director)	$0	$0	$0
Fleming Taylor (Director)	$0	$0	$0

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990

Filed on April 27, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$3,749,859

Expenses

$3,170,459

Net Income

$579,400

Net Assets

$14,237,350

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,219,750	85.9%
Investment Income	$18,336	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$7,761	0.2%
Net Inventory Sales	$0
Other Revenue	$504,012	13.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$29,500	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$547,827	17.3%

Assets/Debt
Total Assets	$24,703,207
Total Liabilities	$10,465,857
Net Assets	$14,237,350

Club or Co-Op Income
Income From Members	$3,203,841
Income From Other Sources	$547,154

Compensation

Key Employees and Officers	Compensation	Related	Other
Terry Koonce (President)	$6,450	$0	$0
Henry Heath (Treasurer)	$6,200	$0	$0
George Everett (Vice Pres)	$5,250	$0	$0
John Pope (Director)	$3,700	$0	$0
Ralph Taylor (Secretary)	$1,750	$0	$0
Jw Roberts Jr (Director)	$1,650	$0	$0
Thurman Vincent Jr (Director)	$1,650	$0	$0
Tommy Daughety (Director)	$1,500	$0	$0
Harold Jones (Director)	$1,350	$0	$0

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990

Filed on Feb. 19, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$5,719,041

Expenses

$2,930,338

Net Income

$2,788,703

Net Assets

$13,654,005

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,086,068	54.0%
Investment Income	$16,985	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,615,988	45.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$19,700	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$523,165	17.9%

Assets/Debt
Total Assets	$22,550,570
Total Liabilities	$8,896,565
Net Assets	$13,654,005

Club or Co-Op Income
Income From Members	$3,062,420
Income From Other Sources	$2,646,091

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$3,152,456

Expenses

$2,801,331

Net Income

$351,125

Net Assets

$10,834,392

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,162,147	> 100%
Investment Income	$14,212	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$43,591
Net Inventory Sales	$0
Other Revenue	$19,688	0.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$21,800	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$520,364	18.6%

Assets/Debt
Total Assets	$19,162,224
Total Liabilities	$8,327,832
Net Assets	$10,834,392

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$3,279,439

Expenses

$2,789,439

Net Income

$490,000

Net Assets

$10,454,343

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,234,234	98.6%
Investment Income	$13,864	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$5,252	0.2%
Net Inventory Sales	$0
Other Revenue	$26,089	0.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$22,200	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$492,071	17.6%

Assets/Debt
Total Assets	$16,284,526
Total Liabilities	$5,830,183
Net Assets	$10,454,343

Club or Co-Op Income
Income From Members	$3,215,393
Income From Other Sources	$52,757

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Updated February 25, 2026

North Lenoir Water Corporation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $4.11M (2024)

Expenses $4.17M (2024)

Total Assets $22.3M (2024)

Total Liabilities $8.57M (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Revenue

$4.11M (2024)

Expenses

$4.17M (2024)

Total Assets

$22.3M (2024)

Total Liabilities

$8.57M (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004