2024-11-15T13:03:50-05:00 2024-06-30 541455972 BOSTIC TUCKER & COMPANY PC PO BOX 505 LEBANON VA 242660505 990 2023-07-01 311459992 COALFIELD WATER DEVELOPMENT FUND COAL 2763950747 POST OFFICE BOX 2194 COEBURN VA 242302194 SCOTTY WAMPLER PRESIDENT 2768891778 2024-09-18 true false GREGORY TUCKER P00172588 2768893103 2024-11-15 2023 2024-10-15 13:58:12Z SCOTTY WAMPLER POST OFFICE BOX 548 LEBANON VA 24266 1469407 false X X 1996 VA TO EXPEDITE WATER DEVELOPMENT BY PROVIDING GAP FINANCING, ENCOURAGE REGIONAL WATER SYSTEM DEVELOPMENT 15 15 0 0 165165 195128 0 421241 381671 26729 105999 613135 682798 600165 646566 0 0 0 0 100340 123855 700505 770421 -87370 -87623 20868111 22107455 10792507 10930414 10075604 11177041 X TO EXPEDITE WATER DEVELOPMENT BY PROVIDING GAP FINANCING, ENCOURAGE REGIONAL WATER SYSTEM DEVELOPMENT AND LOCAL INVESTMENTS IN WATER PROVISION, AND ADDRESS PUBLIC HEALTH PROBLEMS RELATED TO THE QUANTITY AND QUALITY OF WATER false false 646566 646566 TO FUND WATER PROJECTS IN SOUTHWEST VIRGINIA, FOCUSING ON AREAS WITHOUT ADEQUATE WATER SYSTEMS 646566 true true false false false false false false false true false false false false false false true false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false true 1 0 0 false false false false false false false false false false false false false false false false X 15 15 false true false false false false false true true false false false true true true true true false false false VA X DONNA STANLEY 2763950747 8544 DOCTOR RALPH STANLEY HIGHWAY COEBURN VA 24230 X DUANE MILLER V PRESIDENT X X 0 0 0 SCOTTY WAMPLER PRESIDENT X X 0 0 0 BRIAN BLANKENSHIP SECRETARY X X 0 0 0 SIM EWING TREASURER X X 0 0 0 BARBARA ALTIZER DIRECTOR X 0 0 0 HARRY CHILDRESS DIRECTOR X 0 0 0 DAVID DEAL DIRECTOR X 0 0 0 RANDY ALBERT DIRECTOR X 0 0 0 KEVIN ELKINS DIRECTOR X 0 0 0 ROBERT HILT DIRECTOR X 0 0 0 ROBERT PERKINSON DIRECTOR X 0 0 0 DONNIE RATLIFF DIRECTOR X 0 0 0 DENNIS SUTHERLAND DIRECTOR X 0 0 0 MIKE HYMES DIRECTOR X 0 0 0 MIKE THOMAS DIRECTOR X X 0 0 0 false false false 195128 195128 409777 409777 758503 786609 -28106 -28106 -28106 DE-OBLIGATED FUND 105999 105999 105999 682798 487670 646566 646566 45064 45064 30430 30430 38533 38533 7500 7500 803 803 DUES AND SUBSCRIPTIONS 1525 1525 770421 646566 123855 0 277038 638585 20591073 21468870 20868111 22107455 3198 2250 789309 928164 10000000 10000000 10792507 10930414 X 10075604 11177041 10075604 11177041 20868111 22107455 -87623 1189060 X false true false X 100000 12700 494826 470435 566372 1644333 100000 12700 494826 470435 566372 1644333 388121 1256212 405895 708718 63217 1177830 129680 1318 8050 26729 105999 271776 3093939 2896643 0.40600 0.28270 X PART II, LINE 10 DE-OBLIGATED PRIOR GRANTS 271,776 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10075604 195128 1532198 646566 -105999 85322 11177041 9751230 165165 797294 600165 -26730 64650 10075604 12971248 2063 -3210475 473000 61655 9751230 10233044 12700 3275478 490948 98524 12971248 9735389 100000 884266 422744 99367 10233044 false false 1833325 1189060 1189060 644265 38533 38533 682798 731888 731888 38533 38533 770421 SCHEDULE D, PAGE 2, PART V, LINE 4 THE TERM AND PERMANENT ENDOWMENT FUNDS WILL BE USED TO ASSIST IN THE DEVELOPMENT AND IMPROVEMENT OF DRINKING WATER FOR RESIDENTS IN THE VIRGINIA COUNTIES OF LEE, SCOTT, WISE, RUSSELL, BUCHANAN, TAZEWELL, AND DICKENSON AND THE CITY OF NORTON.) true BUCHANAN COUNTY PUBLIC SERVICE POST OFFICE BOX 58 VANSANT VA 24656 541049475 GOV 330064 WATER PROJECTS DICKENSON COUNTY PUBLIC SERVICE POST OFFICE BOX 619 CLINTWOOD VA 24228 541264389 GOV 100000 WATER PROJECTS LEE COUNTY PUBLIC SERVICE AUTHORITY POST OFFICE BOX 830 JONESVILLE VA 24263 043649461 GOV 109900 WATER PROJECTS WISE COUNTY PUBLIC SERVICE 5622 INDUSTRIAL PARK ROAD NORTON VA 24273 541645398 GOV 106602 WATER PROJECTS 4 SCHEDULE I, PAGE 4, PART IV THE ORGANIZATION MAKES GRANTS AND MONITORS THE PROCEDURES IN ACCORDANCE WITH THE STATE GUIDELINES OF THE VIRGINIA WATER SUPPLY REVOLVING FUND. FORM 990 - ORGANIZATION'S MISSION TO EXPEDITE WATER DEVELOPMENT BY PROVIDING GAP FINANCING, ENCOURAGE REGIONAL WATER SYSTEM DEVELOPMENT AND LOCAL INVESTMENTS IN WATER PROVISION, AND ADDRESS PUBLIC HEALTH PROBLEMS RELATED TO THE QUANTITY AND QUALITY OF WATER FORM 990 THE COALFIELD WATER DEVELOPMENT FUND RECEIVED AN INTEREST FREE LOAN OF 10,000,000 FROM THE VIRGINIA WATER SUPPLY REVOLVING FUND, ACTING BY AND THROUGH THE VIRGINIA RESOURCES AUTHORITY (VRA), A PUBLIC BODY CORPORATE AND POLITICAL SUBDIVISION OF THE COMMONWEALTH OF VIRGINIA. THE LOAN PROCEEDS WERE INVESTED AND ZERO COUPON BONDS ARE HELD IN TRUST FOR THE BENEFIT OF THE VA WATER SUPPLY REVOLVING FUND. THE LOANS ARE SECURED WITH ZERO COUPON BONDS AND COLLATERALIZED BY THE INVESTMENT ACCOUNT. ALL EARNINGS ARE TO BE USED TO EXTEND GRANTS TO ASSIST IN THE FINANCING OF NEW OR THE UPGRADE OF EXISTING DRINKING WATER FACILITIES IN THE COALFIELD REGION OF VIRGINIA. THE VIRGINIA WATER SUPPLY FUND ALLOWS USE OF THE INVESTMENT EARNINGS EACH YEAR BY THE COALFIELD WATER DEVELOPMENT FUND. THE COALFIELD WATER DEVELOPMENT FUND MAKES GRANTS FROM INVESTMENT EARNINGS IN ACCORDANCE WITH GUIDELINES OF THE VA WATER SUPPLY REVOLVING FUND. FAILURE TO MAKE GRANTS IN ACCORDANCE WITH STATE GUIDELINES WILL CAUSE THE COALFIELD WATER DEVELOPMENT FUND TO DEFAULT ON THE LOAN AND THE INVESTMENTS WILL REVERT BACK TO THE VIRGINIA WATER SUPPLY REVOLVING FUND AS PART OF THE COLLATERALIZED SECURITY AGREEMENT. THE INVESTMENT EARNINGS ARE DEEMED TO BE AN ANNUAL REVOLVING GRANT FROM THE VIRGINIA WATER SUPPLY REVOLVING FUND. THEREFORE, THESE EARNINGS ARE REPORTED AS GRANT REVENUE RECEIVED FROM A GOVERNMENTAL UNIT. FORM 990, PAGE 6, PART VI, LINE 3 THE ORGANIZATION WILL PAY A MONTHLY FEE TO MRS. DONNA STANLEY WHO SERVES AS THE ADMINISTRATIVE AGENT FOR THE ORGANIZATION. IN ADDITION, JUAN GARCIA, (HICOK, BROWN AND COMPANY CPA'S,PC) OF ABINGDON, VA SERVES AS THE FISCAL AGENT FOR THE ORGANIZATION. THE TYPE OF SERVICES THEY PROVIDE CONSIST OF THE FOLLOWING: MAINTAIN FINANCIAL RECORDS IN COLLABORATION WITH THE AUDIT FIRM PROPOSE BUDGETS FOR THE BOARD TO APPROVE REPORT ON STATUS OF ACCOUNTS AND GRANT PROJECTS SERVE AS SPOKESPERSON BETWEEN THE ORGANIZATION AND OTHER INTERESTED PARTIES SERVE AS LIAISON WITH THE INVESTMENT MANAGER FOR THE CWDF IN IMPLEMENTING THE INVESTMENT AND SPENDING POLICIES OF THE BOARD OF DIRECTORS ASSISTING THE PLANNING DISTRICT CCOMMISSION WITH SOLICITATION OF GRANT APPLICATIONS COMPLETE ANNUAL REPORTS FOR FUNDING RECEIVED SERVE AS LIAISON TO THE PROVIDERS OF PROFESSIONAL SERVICES COMPLETE GRANT APPLICATIONS TO OUTSIDE ORGANIZATIONS AND INDIVIDUALS FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE 990 IS HANDED OUT TO BOARD MEMBERS PRESENT AND EMAILED TO THOSE UNABLE TO ATTEND THE MEETING FOR REVIEW BEFORE IT IS SUBMITTED TO THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST STATEMENTS OBTAINED ANNUALLY AT FALL BOARD MEETING FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS AND POLICIES AVAILABLE UPON REQUEST