GRAND RAPIDS WHITEWATER INC (EIN 271009241) - 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

2009

Legal Domicile

Principal Officer

STEVE HEACOCK

Phone

6168812888

Tax Period

2023-01-01 to 2023-12-31

GRAND RAPIDS WHITEWATER INC, founded in 2009, is a small nonprofit in the Recreation & Sports sector that reported $248K in total revenue in fiscal year 2023. Revenue surged 76% from the prior year, signaling strong growth momentum. Expenses of $781K exceeded revenue, resulting in a 215% operating deficit.

Mission

THE PURPOSE OF THE CORPORATION IS TO RECREATE RAPIDS THAT PROVIDE RECREATIONAL AND FITNESS OPPORTUNITIES TO THE GENERAL PUBLIC, AND TO PROMOTE AN ENVIRONMENTALLY SOUND DESIGN THAT WILL ENHANCE THE SUSTAINABILITY OF FISH, WILDLIFE, AND NATURAL RESOURCES WITHIN THE GRAND RIVER.

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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 $39,524

Program Service Revenue $0

Investment Income $208,293

Other Revenue $0

TOTAL REVENUE $247,817

Expense Breakdown

Grants Paid $0

Salaries & Benefits $320,139

Fundraising Expenses $19,278

Program Expenses $692,785

Other Expenses $460,880

TOTAL EXPENSES $781,019

Year-over-Year Comparison

	2023	2022	Change
Revenue	$247,817	$140,777	+0.8%
Expenses	$781,019	$778,315	+0.0%
Net Income	$-533,202	$-637,538	-0.2%

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

$185,120

Total Directors

$185,120

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS MULLER	BOARD CHAIR	15.00	Officer Director	$0	$0	$0
STEVE HEACOCK	PRESIDENT/CE	40.00	Officer Director	$185,120	$0	$185,120
SCOTT LEWIS	SECRETARY	2.00	Officer Director	$0	$0	$0
JOHN GREEN	TREASURER	2.00	Officer Director	$0	$0	$0
TRIPP FREY	DIRECTOR	2.00	Director	$0	$0	$0
JANET KORN	DIRECTOR	2.00	Director	$0	$0	$0
JUAN OLIVAREZ	DIRECTOR	2.00	Director	$0	$0	$0
CHIP RICHARDS	DIRECTOR	2.00	Director	$0	$0	$0
JEFF VANDENBERG	DIRECTOR	2.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2023	$247,817	$781,019	$7,138,870	$-533,202
2022	$140,777	$778,315	$7,633,856	$-637,538
2021	$417,568	$926,069	$7,001,248	$-508,501
2020	$1,224,953	$1,165,187	$7,593,794	$59,766
2019	$7,611,164	$1,241,967	$10,133,999	$6,369,197
2018	$3,738,402	$1,796,535	$3,828,037	$1,941,867

GRAND RAPIDS WHITEWATER INC