Fords Valley And Highway 278 Water Cooperative

Piedmont, AL
Tax-exempt since Feb. 1988
EIN: 63-0643446

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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

$1.16M (2024)

Expenses

$728k (2024)

Total Assets

$2.95M (2024)

Total Liabilities

$204k (2024)

Source: Form 990 tax filings from 2012 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 May
2024

Revenue

$1,161,019

Expenses

$727,816

Net Income

$433,203

Net Assets

$2,750,388

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$74,825	6.4%
Program Services	$1,034,161	89.1%
Investment Income	$46,037	4.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$5,996	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,500	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$195,003	26.8%

Assets/Debt
Total Assets	$2,954,063
Total Liabilities	$203,675
Net Assets	$2,750,388

Club or Co-Op Income
Income From Members	$1,034,161
Income From Other Sources	$126,858

Compensation

Key Employees and Officers	Compensation	Related	Other
David Anderson (Board Member)	$0	$0	$0
Darrell Mc Daniel (Board Member)	$0	$0	$0
Kathy Ingram (Secretary Treasurer)	$0	$0	$0
Felix Firestone (President)	$0	$0	$0
Terry Alford (Vice President)	$0	$0	$0

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990

Filed on Oct. 10, 2024

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

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Fiscal Year Ending May
2023

Revenue

$1,037,649

Expenses

$726,976

Net Income

$310,673

Net Assets

$2,317,185

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,035,554	99.8%
Investment Income	$1,480	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$615	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,500	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$200,141	27.5%

Assets/Debt
Total Assets	$2,468,450
Total Liabilities	$151,265
Net Assets	$2,317,185

Club or Co-Op Income
Income From Members	$1,035,554
Income From Other Sources	$1,480

Compensation

Key Employees and Officers	Compensation	Related	Other
David Anderson (Board Member)	$0	$0	$0
Darrell Mc Daniel (Board Member)	$0	$0	$0
Kathy Ingram (Secretary Treasurer)	$0	$0	$0
Felix Firestone (President)	$0	$0	$0
Terry Alford (Vice President)	$0	$0	$0

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990

Filed on Sept. 5, 2023

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

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Fiscal Year Ending May
2022

Revenue

$1,050,750

Expenses

$692,213

Net Income

$358,537

Net Assets

$2,006,512

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,048,945	99.8%
Investment Income	$1,459	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$346	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,500	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$179,412	25.9%

Assets/Debt
Total Assets	$2,159,299
Total Liabilities	$152,787
Net Assets	$2,006,512

Club or Co-Op Income
Income From Members	$1,048,945
Income From Other Sources	$1,459

Compensation

Key Employees and Officers	Compensation	Related	Other
Kathy Ingram (Secretary Treasurer)	$2,400	$0	$0
Felix Firestone (President)	$1,500	$0	$0
Darrell Mc Daniel (Board Member)	$1,200	$0	$0
David Anderson (Board Member)	$1,200	$0	$0
Terry Alford (Vice President)	$1,200	$0	$0

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990

Filed on Sept. 13, 2022

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

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Fiscal Year Ending May
2021

Revenue

$1,122,150

Expenses

$746,022

Net Income

$376,128

Net Assets

$1,647,975

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$52,997	4.7%
Program Services	$971,156	86.5%
Investment Income	$1,578	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$28,581
Net Inventory Sales	$0
Other Revenue	$125,000	11.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,400	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$192,565	25.8%

Assets/Debt
Total Assets	$1,983,940
Total Liabilities	$335,965
Net Assets	$1,647,975

Club or Co-Op Income
Income From Members	$97,156
Income From Other Sources	$179,575

Compensation

Key Employees and Officers	Compensation	Related	Other
Kathy Ingram (Secretary Treasurer)	$3,400	$0	$0
Felix Firestone (President)	$1,500	$0	$0
Darrell Mc Daniel (Board Member)	$1,200	$0	$0
David Anderson (Board Member)	$1,200	$0	$0
Terry Alford (Vice President)	$1,200	$0	$0

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990

Filed on Sept. 14, 2021

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

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Fiscal Year Ending May
2020

Revenue

$1,003,155

Expenses

$839,483

Net Income

$163,672

Net Assets

$1,271,847

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$6,000	0.6%
Program Services	$992,596	98.9%
Investment Income	$1,809	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,750	0.3%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,200	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$225,267	26.8%

Assets/Debt
Total Assets	$1,908,879
Total Liabilities	$637,032
Net Assets	$1,271,847

Club or Co-Op Income
Income From Members	$992,596
Income From Other Sources	$7,809

Compensation

Key Employees and Officers	Compensation	Related	Other
Felix Firestone (President)	$1,500	$0	$0
Terry Alford (Vice President)	$1,200	$0	$0
David Anderson (Board Member)	$1,200	$0	$0
Darrell Mc Daniel (Board Member)	$1,200	$0	$0
Kathy Ingram (Secretary Treasurer)	$1,100	$0	$0

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990

Filed on Sept. 21, 2020

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

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XML

Fiscal Year Ending May
2019

Revenue

$991,266

Expenses

$818,818

Net Income

$172,448

Net Assets

$1,108,175

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$18,000	1.8%
Program Services	$971,226	98.0%
Investment Income	$2,040	0.2%
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	$5,800	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$234,765	28.7%

Assets/Debt
Total Assets	$1,871,435
Total Liabilities	$763,260
Net Assets	$1,108,175

Club or Co-Op Income
Income From Members	$985,761
Income From Other Sources	$5,505

Compensation

Key Employees and Officers	Compensation	Related	Other
Felix Firestone (Board Presid)	$1,500	$0	$0
Terry Alford (Board Vice P)	$1,200	$0	$0
David Anderson (Board Member)	$1,200	$0	$0
Darrell Mcdaniel (Board Member)	$1,100	$0	$0
Lisa Lambert (Board Member)	$800	$0	$0

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990

Filed on Sept. 10, 2019

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

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PDF XML

Fiscal Year Ending May
2018

Revenue

$873,971

Expenses

$803,035

Net Income

$70,936

Net Assets

$935,727

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$869,861	99.5%
Investment Income	$2,188	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,922	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,000	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$231,339	28.8%

Assets/Debt
Total Assets	$1,843,423
Total Liabilities	$907,696
Net Assets	$935,727

Club or Co-Op Income
Income From Members	$869,861
Income From Other Sources	$4,110

Compensation

Key Employees and Officers	Compensation	Related	Other
Felix Firestone (Board Presid)	$1,500	$0	$0
Terry Alford (Board Vice P)	$1,200	$0	$0
Darrell Mcdaniel (Board Member)	$1,200	$0	$0
Jackie Austin (Board Member)	$1,100	$0	$0
David Anderson (Board Member)	$600	$0	$0
Bobby Peek (Board Member)	$400	$0	$0

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990

Filed on Aug. 29, 2018

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

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Fiscal Year Ending May
2017

Revenue

$782,647

Expenses

$775,576

Net Income

$7,071

Net Assets

$864,791

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$775,461	99.1%
Investment Income	$1,746	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,524	0.2%
Net Inventory Sales	$0
Other Revenue	$3,916	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,800	0.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$226,498	29.2%

Assets/Debt
Total Assets	$1,868,641
Total Liabilities	$1,003,850
Net Assets	$864,791

Club or Co-Op Income
Income From Members	$775,461
Income From Other Sources	$7,186

Compensation

Key Employees and Officers	Compensation	Related	Other
Felix Firestone (Board Presid)	$1,425	$0	$0
Bobby Peek (Board Member)	$1,200	$0	$0
Steven Reed (Board Member)	$875	$0	$0
Terry Alford (Board Vice P)	$600	$0	$0
Jerry Capes (Board Member)	$300	$0	$0
Danny Barron (Board Member)	$200	$0	$0
Jackie Austin (Board Member)	$100	$0	$0
Darrell Mcdaniel (Board Member)	$100	$0	$0
Ronda Ledbetter (Secretary/Tr)	$0	$0	$0

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990

Filed on Oct. 23, 2017

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

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Fiscal Year Ending May
2016

Revenue

$540,881

Expenses

$585,221

Net Income

-$44,340

Net Assets

$857,720

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$538,982	99.6%
Investment Income	$1,885	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$14	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,000	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$211,056	36.1%

Assets/Debt
Total Assets	$1,922,386
Total Liabilities	$1,064,666
Net Assets	$857,720

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

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Reed (President)	$1,500	$0	$0
Danny Barron (Secretary)	$1,200	$0	$0
Bobby Peek (Director)	$1,200	$0	$0
Felix Firestone (Director)	$1,100	$0	$0

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990

Filed on Aug. 23, 2016

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

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PDF (2 of 2)

Fiscal Year Ending May
2015

Revenue

$539,710

Expenses

$611,469

Net Income

-$71,759

Net Assets

$902,060

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$530,005	98.2%
Investment Income	$1,961	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$3,001	0.6%
Net Inventory Sales	$0
Other Revenue	$4,743	0.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,525	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$201,432	32.9%

Assets/Debt
Total Assets	$1,938,963
Total Liabilities	$1,036,903
Net Assets	$902,060

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 May
2014

Revenue

$545,714

Expenses

$603,462

Net Income

-$57,748

Net Assets

$911,275

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$541,074	99.1%
Investment Income	$1,753	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,887	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$165,766	27.5%

Assets/Debt
Total Assets	$1,968,620
Total Liabilities	$1,057,345
Net Assets	$911,275

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 May
2013

Revenue

$554,082

Expenses

$504,882

Net Income

$49,200

Net Assets

$902,882

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$18,129	3.3%
Program Services	$530,046	95.7%
Investment Income	$2,438	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$3,469	0.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,775	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$160,826	31.9%

Assets/Debt
Total Assets	$1,980,691
Total Liabilities	$1,077,809
Net Assets	$902,882

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 May
2012

Revenue

$590,245

Expenses

$569,849

Net Income

$20,396

Net Assets

$853,684

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$587,100	99.5%
Investment Income	$3,075	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$70	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,800	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$204,666	35.9%

Assets/Debt
Total Assets	$1,993,531
Total Liabilities	$1,139,847
Net Assets	$853,684

Club or Co-Op Income
Income From Members	$724,577
Income From Other Sources	$3,145

990

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

PDF

Fiscal Year Ending May
2011

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending May
2010

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending May
2009

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending May
2008

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending May
2007

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending May
2006

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending May
2005

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

About This Data

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

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Types of Nonprofits

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Updated December 20, 2024

Fords Valley And Highway 278 Water Cooperative

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.16M (2024)

Expenses $728k (2024)

Total Assets $2.95M (2024)

Total Liabilities $204k (2024)

Tax Filings by Year

Fiscal Year Ending May 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending May 2023

Extracted Financial Data

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Compensation

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990

Fiscal Year Ending May 2022

Extracted Financial Data

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Compensation

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990

Fiscal Year Ending May 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending May 2020

Extracted Financial Data

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Compensation

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990

Fiscal Year Ending May 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending May 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending May 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending May 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending May 2015

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending May 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending May 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending May 2012

Extracted Financial Data

Revenue

$1.16M (2024)

Expenses

$728k (2024)

Total Assets

$2.95M (2024)

Total Liabilities

$204k (2024)

Fiscal Year Ending May
2024

Fiscal Year Ending May
2023

Fiscal Year Ending May
2022

Fiscal Year Ending May
2021

Fiscal Year Ending May
2020

Fiscal Year Ending May
2019

Fiscal Year Ending May
2018

Fiscal Year Ending May
2017

Fiscal Year Ending May
2016

Fiscal Year Ending May
2015

Fiscal Year Ending May
2014

Fiscal Year Ending May
2013

Fiscal Year Ending May
2012

Fiscal Year Ending May
2011

Fiscal Year Ending May
2010

Fiscal Year Ending May
2009

Fiscal Year Ending May
2008

Fiscal Year Ending May
2007

Fiscal Year Ending May
2006

Fiscal Year Ending May
2005