SOUNDWATERS INC (EIN 061263947) - 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

1989

Legal Domicile

Principal Officer

LEIGH SHEMITZ

Phone

2033231978

Tax Period

2023-07-01 to 2024-06-30

SOUNDWATERS INC, founded in 1989, is a community nonprofit in the Environment sector that reported $3.5M in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Net assets of $17.2M represent 59 months of operating reserves.

Mission

CREATES OPPORTUNITIES FOR STUDENTS TO LEARN, TRAIN AND EXPLORE ON LONG ISLAND SOUND.

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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 $2,445,793

Program Service Revenue $884,036

Investment Income $185,966

Other Revenue $-17,527

TOTAL REVENUE $3,498,268

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,985,205

Fundraising Expenses $414,071

Program Expenses $3,081,532

Other Expenses $1,825,123

TOTAL EXPENSES $3,810,328

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,498,268	$4,937,357	-0.3%
Expenses	$3,810,328	$2,894,649	+0.3%
Net Income	$-312,060	$2,042,708	-1.2%

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

1212

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

$358,196

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TONY ALLOT	CHAIR	5.00	Officer Director	$0	$0	$0
EMILY DREAS	VICE CHAIR	5.00	Officer Director	$0	$0	$0
MICHELE SEGALLA	TREASURER	5.00	Officer Director	$0	$0	$0
CLARENCE GREBEY	SECRETARY	5.00	Officer Director	$0	$0	$0
SARA ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA BENNETT	DIRECTOR	1.00	Director	$0	$0	$0
RANDY BOURNE	DIRECTOR	1.00	Director	$0	$0	$0
OLGA BURKE	DIRECTOR	1.00	Director	$0	$0	$0
KRISTI CALVER	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE CAREY	DIRECTOR	1.00	Director	$0	$0	$0
TONY CARVETTE	DIRECTOR	1.00	Director	$0	$0	$0
EMILE DE NEREE	DIRECTOR	1.00	Director	$0	$0	$0
PIETER EENKEMA VAN DIJK	DIRECTOR	1.00	Director	$0	$0	$0
IRA FLATOW	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH FULLER	DIRECTOR	1.00	Director	$0	$0	$0
PAUL HUSTON	DIRECTOR	1.00	Director	$0	$0	$0
SARA KELLER	DIRECTOR	1.00	Director	$0	$0	$0
THEA KRUGER	DIRECTOR	1.00	Director	$0	$0	$0
TAMU LUCERO	DIRECTOR	1.00	Director	$0	$0	$0
DAVID MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
ALEX PUGLIESE	DIRECTOR	1.00	Director	$0	$0	$0
JAKE RATH	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SELLSCHOP	DIRECTOR	1.00	Director	$0	$0	$0
MIKE SOLECKI	DIRECTOR	1.00	Director	$0	$0	$0
JIMMY STUART	DIRECTOR	1.00	Director	$0	$0	$0
RICH THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
MARIA VAZQUEZ-GONCALVES	DIRECTOR	1.00	Director	$0	$0	$0
LEIGH SHEMITZ	PRESIDENT	40.00	Officer	$228,125	$5,570	$233,695
MEG PETERSON	VP OF FINANCE	40.00	Officer	$121,385	$3,116	$124,501
ROBERT MAZZONE	VP OF DEVELOPMENT	40.00	Highest	$132,605	$3,466	$136,071
MICHAEL BAGLEY	VP OF PROGRAMS	40.00	Highest	$126,958	$3,375	$130,333

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	No data	No data	No data	No data
2024	$3,498,268	$3,810,328	$18,306,592	$-312,060
2023	$4,937,357	$2,894,649	$19,174,857	$2,042,708
2022	$5,964,857	$2,327,399	$15,959,792	$3,637,458
2021	$7,459,789	$2,098,635	$12,506,716	$5,361,154
2020	$3,212,773	$1,952,859	$6,873,257	$1,259,914
2019	$3,534,579	$2,114,937	$5,424,822	$1,419,642
2018	$2,105,697	$2,004,078	$3,928,016	$101,619

SOUNDWATERS INC