Seven Lakes Water Assoc

Stanwood, WA
Tax-exempt since June 1992
EIN: 91-0829530

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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.

Category: Public, Society Benefit — Multipurpose and Other / Public Utilities (NTEE)

Donations to this organization are not tax deductible.

Revenue

$1.17M (2024)

Expenses

$1.11M (2024)

Total Assets

$7.47M (2024)

Total Liabilities

$108k (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 Aug.
2024

Revenue

$1,165,969

Expenses

$1,110,419

Net Income

$55,550

Net Assets

$7,362,941

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,116,792	95.8%
Investment Income	$49,177	4.2%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$359,949	32.4%

Assets/Debt
Total Assets	$7,470,710
Total Liabilities	$107,769
Net Assets	$7,362,941

Club or Co-Op Income
Income From Members	$1,116,792
Income From Other Sources	$49,177

Compensation

Key Employees and Officers	Compensation	Related	Other
Keith Krueger (President)	$0	$0	$0
Leslie Magnuson (Vice President)	$0	$0	$0
Laura Leuze (Treasurer)	$0	$0	$0
Julie David (Secretary)	$0	$0	$0
Mike Haney (Trustee)	$0	$0	$0
Eric Starup (Trustee)	$0	$0	$0
Charlie Cox (Trustee)	$0	$0	$0

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990

Filed on June 18, 2025

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

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Fiscal Year Ending Aug.
2023

Revenue

$1,156,569

Expenses

$973,319

Net Income

$183,250

Net Assets

$7,307,391

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,140,453	98.6%
Investment Income	$13,678	1.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,438	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$337,091	34.6%

Assets/Debt
Total Assets	$7,382,113
Total Liabilities	$74,722
Net Assets	$7,307,391

Club or Co-Op Income
Income From Members	$1,140,453
Income From Other Sources	$16,116

Compensation

Key Employees and Officers	Compensation	Related	Other
Bryan Gregory (Trustee)	$0	$0	$0
Bruce Holen (President)	$0	$0	$0
Keith Krueger (Vice President)	$0	$0	$0
Karri Chase (Prior Treasurer)	$0	$0	$0
Marc Lebeau (Secretary)	$0	$0	$0
Mary Jo Lake (Trustee)	$0	$0	$0
Leslie Magnuson (Treasurer)	$0	$0	$0

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990

Filed on July 15, 2024

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Fiscal Year Ending Aug.
2022

Revenue

$984,716

Expenses

$940,216

Net Income

$44,500

Net Assets

$7,113,954

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$985,553	> 100%
Investment Income	$1,442	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$2,279
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$159,384	17.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$206,949	22.0%

Assets/Debt
Total Assets	$7,205,671
Total Liabilities	$91,717
Net Assets	$7,113,954

Club or Co-Op Income
Income From Members	$985,553
Income From Other Sources	$2,136

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$159,384	$0	$0
Bruce Holen (President)	$0	$0	$0
Keith Krueger (Vice President)	$0	$0	$0
Karri Chase (Treasurer)	$0	$0	$0
Marc Lebeau (Secretary)	$0	$0	$0
Mary Jo Lake (Trustee)	$0	$0	$0
Andrew Springer (Trustee)	$0	$0	$0

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990

Filed on July 17, 2023

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Fiscal Year Ending Aug.
2021

Revenue

$1,087,040

Expenses

$901,211

Net Income

$185,829

Net Assets

$7,032,405

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,084,472	99.8%
Investment Income	$2,568	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	$144,730	16.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$181,034	20.1%

Assets/Debt
Total Assets	$7,095,083
Total Liabilities	$62,678
Net Assets	$7,032,405

Club or Co-Op Income
Income From Members	$1,084,480
Income From Other Sources	$5,804

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$144,730	$0	$0
Lisa Welty (Director)	$0	$0	$0
Keith Leonard (Secretary/Treas)	$0	$0	$0
Bruce Black (President)	$0	$0	$0
Ron Crow (Director)	$0	$0	$0
Craig Thompson (Vice President)	$0	$0	$0
Kim Gudgel (Director)	$0	$0	$0

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990

Filed on July 15, 2022

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Fiscal Year Ending Aug.
2020

Revenue

$1,084,274

Expenses

$819,532

Net Income

$264,742

Net Assets

$6,843,340

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,079,059	99.5%
Investment Income	$5,215	0.5%
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	$132,653	16.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$183,100	22.3%

Assets/Debt
Total Assets	$7,335,159
Total Liabilities	$491,819
Net Assets	$6,843,340

Club or Co-Op Income
Income From Members	$1,077,603
Income From Other Sources	$5,215

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$132,653	$0	$0
Lisa Welty (Director)	$0	$0	$0
Keith Leonard (Secretary/Treas)	$0	$0	$0
Bruce Black (President)	$0	$0	$0
Ron Crow (Director)	$0	$0	$0
Craig Thompson (Vice President)	$0	$0	$0
Kim Gudgel (Director)	$0	$0	$0

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990

Filed on July 15, 2021

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Fiscal Year Ending Aug.
2019

Revenue

$1,230,139

Expenses

$738,130

Net Income

$492,009

Net Assets

$6,578,803

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,229,699	100.0%
Investment Income	$9,294	0.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$8,854
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$243,454	33.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$96,573	13.1%

Assets/Debt
Total Assets	$7,127,025
Total Liabilities	$548,222
Net Assets	$6,578,803

Club or Co-Op Income
Income From Members	$1,229,699
Income From Other Sources	$9,036

Compensation

Key Employees and Officers	Compensation	Related	Other
Dan Welty (Employee)	$134,492	$0	$0
Paul Lucas (General Manager)	$108,962	$0	$0
Lisa Welty (Director)	$0	$0	$0
Keith Leonard (Secretary/Treas)	$0	$0	$0
Bruce Black (President)	$0	$0	$0
Chuck Lucas (Fromer Sec.)	$0	$0	$0
Pat Mcallister (Director)	$0	$0	$0
Kim Gudgel (Director)	$0	$0	$0
Craig Thompson (Vice President)	$0	$0	$0

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990

Filed on July 14, 2020

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Fiscal Year Ending Aug.
2018

Revenue

$1,246,407

Expenses

$669,159

Net Income

$577,248

Net Assets

$6,081,802

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,242,775	99.7%
Investment Income	$3,632	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	$100,659	15.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$205,338	30.7%

Assets/Debt
Total Assets	$6,291,856
Total Liabilities	$210,054
Net Assets	$6,081,802

Club or Co-Op Income
Income From Members	$1,242,775
Income From Other Sources	$2,672

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$100,659	$0	$0
Chuck Lucas (Secretary/Treas)	$0	$0	$0
Keith Leonard (Director)	$0	$0	$0
Bruce Black (President)	$0	$0	$0
James Olson (Director)	$0	$0	$0
Pat Mcallister (Director)	$0	$0	$0
Kim Gudgel (Director)	$0	$0	$0
Craig Thompson (Vice President)	$0	$0	$0

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990

Filed on May 15, 2019

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Fiscal Year Ending Aug.
2017

Revenue

$896,461

Expenses

$781,004

Net Income

$115,457

Net Assets

$5,498,264

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$887,466	99.0%
Investment Income	$7,795	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,200	0.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$98,987	12.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$236,678	30.3%

Assets/Debt
Total Assets	$5,537,613
Total Liabilities	$39,349
Net Assets	$5,498,264

Club or Co-Op Income
Income From Members	$887,467
Income From Other Sources	$10,757

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$98,987	$0	$0
Chuck Lucas (Secretary/Treas)	$0	$0	$0
Keith Leonard (Director)	$0	$0	$0
Bruce Black (President)	$0	$0	$0
James Olson (Director)	$0	$0	$0
Pat Mcallister (Director)	$0	$0	$0
Kim Gudgel (Director)	$0	$0	$0
Craig Thompson (Vice President)	$0	$0	$0

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990

Filed on July 13, 2018

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Fiscal Year Ending Aug.
2016

Revenue

$746,714

Expenses

$576,681

Net Income

$170,033

Net Assets

$5,377,295

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$740,505	99.2%
Investment Income	$6,443	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$234
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$95,436	16.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$116,646	20.2%

Assets/Debt
Total Assets	$5,426,661
Total Liabilities	$49,366
Net Assets	$5,377,295

Club or Co-Op Income
Income From Members	$740,673
Income From Other Sources	$6,275

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$95,436	$0	$0
Michael Mack (Director)	$0	$0	$0
Bruce Black (Secretary/Treas)	$0	$0	$0
James Olson (President)	$0	$0	$0
Dan Welty (Former Vp)	$0	$0	$0
Tom Smith (Director)	$0	$0	$0
Craig Thompson (Vice President)	$0	$0	$0
Terry Smith (Former Director)	$0	$0	$0

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990

Filed on March 24, 2017

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Fiscal Year Ending Aug.
2015

Revenue

$745,715

Expenses

$680,715

Net Income

$65,000

Net Assets

$5,206,180

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$739,083	99.1%
Investment Income	$6,632	0.9%
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	$98,580	14.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$114,112	16.8%

Assets/Debt
Total Assets	$5,247,193
Total Liabilities	$41,013
Net Assets	$5,206,180

Club or Co-Op Income
Income From Members	$739,083
Income From Other Sources	$6,632

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Lucas (General Manager)	$98,580	$0	$0
Michael Mack (Director)	$0	$0	$0
Bruce Black (Secretary/Treas)	$0	$0	$0
James Olson (President)	$0	$0	$0
Dan Welty (Vice President)	$0	$0	$0
Tom Smith (Director)	$0	$0	$0
Craig Thompson (Director)	$0	$0	$0
Terry Smith (Director)	$0	$0	$0

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990

Filed on May 27, 2016

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Fiscal Year Ending Aug.
2014

Revenue

$687,949

Expenses

$607,173

Net Income

$80,776

Net Assets

$5,141,180

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$680,779	99.0%
Investment Income	$7,170	1.0%
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	$90,756	14.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$134,371	22.1%

Assets/Debt
Total Assets	$5,180,236
Total Liabilities	$39,056
Net Assets	$5,141,180

Club or Co-Op Income
Income From Members	$680,779
Income From Other Sources	$7,170

990

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

PDF

Fiscal Year Ending Aug.
2013

Revenue

$732,053

Expenses

$641,187

Net Income

$90,866

Net Assets

$5,058,653

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$725,348	99.1%
Investment Income	$6,705	0.9%
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	$86,717	13.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$140,187	21.9%

Assets/Debt
Total Assets	$5,096,086
Total Liabilities	$37,433
Net Assets	$5,058,653

Club or Co-Op Income
Income From Members	$725,348
Income From Other Sources	$8,471

990

Filed on April 8, 2014

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Fiscal Year Ending Aug.
2012

Revenue

$688,471

Expenses

$548,885

Net Income

$139,586

Net Assets

$4,965,521

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$680,223	98.8%
Investment Income	$8,248	1.2%
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	$85,854	15.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$103,449	18.8%

Assets/Debt
Total Assets	$5,007,720
Total Liabilities	$42,199
Net Assets	$4,965,521

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 Aug.
2011

Revenue

$655,234

Expenses

$580,189

Net Income

$75,045

Net Assets

$4,824,685

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$645,351	98.5%
Investment Income	$9,883	1.5%
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	$85,226	14.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$123,440	21.3%

Assets/Debt
Total Assets	$4,858,103
Total Liabilities	$33,418
Net Assets	$4,824,685

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

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

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Seven Lakes Water Assoc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.17M (2024)

Expenses $1.11M (2024)

Total Assets $7.47M (2024)

Total Liabilities $108k (2024)

Tax Filings by Year

Fiscal Year Ending Aug. 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2012

Revenue

$1.17M (2024)

Expenses

$1.11M (2024)

Total Assets

$7.47M (2024)

Total Liabilities

$108k (2024)

Fiscal Year Ending Aug.
2024

Fiscal Year Ending Aug.
2023

Fiscal Year Ending Aug.
2022

Fiscal Year Ending Aug.
2021

Fiscal Year Ending Aug.
2020

Fiscal Year Ending Aug.
2019

Fiscal Year Ending Aug.
2018

Fiscal Year Ending Aug.
2017

Fiscal Year Ending Aug.
2016

Fiscal Year Ending Aug.
2015

Fiscal Year Ending Aug.
2014

Fiscal Year Ending Aug.
2013

Fiscal Year Ending Aug.
2012

Fiscal Year Ending Aug.
2011

Fiscal Year Ending Aug.
2010

Fiscal Year Ending Aug.
2009

Fiscal Year Ending Aug.
2008

Fiscal Year Ending Aug.
2007

Fiscal Year Ending Aug.
2006

Fiscal Year Ending Aug.
2005