MAINE RURAL WATER ASSOCIATION (EIN 010366057) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

KIRSTEN HEBERT

Phone

2077374092

Tax Period

2023-07-01 to 2024-06-30

MAINE RURAL WATER ASSOCIATION is a tax-exempt nonprofit with EIN 010366057, based in RICHMOND, ME. Founded in 1979, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $3,618,395 in total revenue and $3,637,324 in total expenses, with net assets of $325,101.

Mission

EDUCATION, TRAINING, AND ON-SITE TECHNICAL SUPPORT TO RURAL WATER AND WASTEWATER SYSTEMS IN MAINE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $804,439

Program Service Revenue $2,813,843

Investment Income $0

Other Revenue $113

TOTAL REVENUE $3,618,395

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,464,185

Fundraising Expenses $0

Other Expenses $1,173,139

TOTAL EXPENSES $3,637,324

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,618,395	$2,924,294	+0.2%
Expenses	$3,637,324	$2,931,180	+0.2%
Net Income	$-18,929	$-6,886	+1.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$159,071

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PENNY LOWE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JEFF DAY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL GAUDETTE	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT ABBOTONI	DIRECTOR	1.00	Director	$0	$0	$0
JASON SIMCOCK	DIRECTOR	1.00	Director	$0	$0	$0
ZACHERY LOVELY	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JIM LEIGHTON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN GUERIN	DIRECTOR	1.00	Director	$0	$0	$0
STEVE BECHARD	DIRECTOR	1.00	Director	$0	$0	$0
NICK RICO	PRESIDENT	1.00	Officer Director	$0	$0	$0
KIRSTEN HEBERT	EXECUTIVE DIRECTOR	40.00	Officer	$159,071	$0	$159,071

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$3,618,395	$3,637,324	$1,301,107	$-18,929
2023	$2,924,294	$2,931,180	$1,097,953	$-6,886
2022	$2,367,267	$2,322,002	$1,147,013	$45,265
2021	$2,191,581	$1,878,002	$1,036,025	$313,579
2020	$1,911,756	$1,887,013	$753,520	$24,743
2019	$1,824,445	$1,713,693	$732,292	$110,752
2018	$1,620,847	$1,520,634	$629,643	$100,213

MAINE RURAL WATER ASSOCIATION