PASCOAG UTILITY DISTRICT (EIN 050517079) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

LINDA ANN LAPORTE

Phone

4015686222

Tax Period

2023-01-01 to 2023-12-31

PASCOAG UTILITY DISTRICT, founded in 2001, is a mid-sized nonprofit in the Mutual Benefit sector that reported $10.3M in total revenue in fiscal year 2023. Expenses of $9.7M left a modest 6% surplus.

Mission

PASCOAG UTILITY DISTRICT PROVIDES WATER AND ELECTRIC UTILITY SERVICES WITHIN THE VILLAGES OF PASCOAG AND HARRISVILLE, RI

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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 (2023)

Revenue Breakdown

Contributions & Grants $491,086

Program Service Revenue $9,609,719

Investment Income $155,162

Other Revenue $89,269

TOTAL REVENUE $10,345,236

Expense Breakdown

Grants Paid $36,882

Salaries & Benefits $1,392,134

Fundraising Expenses $0

Other Expenses $8,288,942

TOTAL EXPENSES $9,717,958

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,345,236	$10,094,239	+0.0%
Expenses	$9,717,958	$9,946,092	0.0%
Net Income	$627,278	$148,147	+3.2%

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

$162,771

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERT G PALMISCIANO	CHAIRMAN	1.00	Officer Director	$0	$0	$0
DOUG LEES	MEMBER	1.00	Director	$3,000	$0	$3,000
JOHN BLODGETT	MEMBER	1.00	Director	$3,000	$0	$3,000
JOHN DEMELIM	MEMBER	1.00	Director	$3,000	$0	$3,000
MICHAEL KOGUT	VICE CHAIRMAN	1.00	Officer Director	$3,000	$0	$3,000
LINDA LAPORTE	TREASURER	1.00	Officer Director	$0	$0	$0
JACK GRIFFIN	CLERK	1.00	Officer Director	$0	$0	$0
RAYMOND TRINQUE	DISTRICT MODERATOR	1.00	Director	$0	$0	$0
MICHAEL KIRKWOOD	GENERAL MANAGER	40.00	Officer	$159,771	$0	$159,771
WILLIAM GUERTIN	ASSISTANT GENERAL MANAGER	40.00	Highest	$125,859	$0	$125,859
CHRISTOPHER PICCARDI	EMPLOYEE	40.00	Highest	$117,126	$0	$117,126
CRAIG KOPRUSAK	EMPLOYEE	40.00	Highest	$108,205	$0	$108,205
HARLE YOUNG	MANAGER OF FINANCE & CUSTO	40.00	Highest	$112,090	$0	$112,090
GLEN DERBY	EMPLOYEE	40.00	Highest	$116,695	$0	$116,695

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
2023	$10,345,236	$9,717,958	No data	$627,278
2022	$10,094,239	$9,946,092	$19,781,769	$148,147
2021	$9,825,059	$9,306,423	$19,979,701	$518,636
2020	$10,179,006	$9,282,632	$20,104,850	$896,374
2019	$9,309,729	$9,294,756	$17,658,604	$14,973
2018	$9,808,806	$9,669,494	$15,969,348	$139,312

PASCOAG UTILITY DISTRICT