MAINE RURAL WATER ASSOCIATION

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Financial Vulnerability Assessment (Tuckman-Chang)

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

2024-07-01 to 2025-06-30

MAINE RURAL WATER ASSOCIATION, founded in 1979, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2024. Expenses of $3.6M left a modest 6% surplus.

Mission

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

Program Service Accomplishments

Program 1

MRWA PROVIDES ON-SITE TECHNICAL ASSISTANCE TO WATER AND WASTEWATER UTILITIES.

Program 2

MRWA PROVIDES PROFESSIONAL TRAINING ON SUCH TOPICS AS OPERATOR CERTIFICATION, FEDERAL AND STATE RULES AND REGULATIONS, AND MANAGEMENT.

Program 3

MRWA PROVIDES CONTRACT OPERATIONS FOR DISTRICTS AND SMALL SYSTEMS. THESE CONTRACTS INCLUDE FINANCIAL SERVICES (BOOKKEEPING, CUSTOMER SERVICES), LICENSED OPERATIONS (DISTRICT OPERATIONS RUN UNDER...

MRWA PROVIDES CONTRACT OPERATIONS FOR DISTRICTS AND SMALL SYSTEMS. THESE CONTRACTS INCLUDE FINANCIAL SERVICES (BOOKKEEPING, CUSTOMER SERVICES), LICENSED OPERATIONS (DISTRICT OPERATIONS RUN UNDER MRWA'S LICENSED OPERATORS), AND OTHER CONTRACT OPERATIONS FOR TESTING DONE MONTHLY, QUARTERLY OR ANNUALLY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $871,595

Program Service Revenue $2,906,560

Investment Income $0

Other Revenue $46,667

TOTAL REVENUE $3,824,822

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,582,848

Fundraising Expenses $0

Other Expenses $1,025,889

TOTAL EXPENSES $3,608,737

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,824,822	$3,618,395	+0.1%
Expenses	$3,608,737	$3,637,324	0.0%
Net Income	$216,085	$-18,929	-12.4%

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

$188,799

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
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	$185,216	$3,583	$188,799

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
2025	$3,824,822	$3,608,737	$1,357,306	$216,085
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