BARDEEN PARTNERS INC

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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

1991

Legal Domicile

Principal Officer

NEVEEN ADLY

Phone

9494535300

Tax Period

2024-07-01 to 2025-06-30

BARDEEN PARTNERS INC, founded in 1991, is a mid-sized nonprofit that reported $10.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $9.4M left a modest 12% surplus.

Mission

THE MISSION OF THE ORGANIZATION IS TO PROMOTE THE COMMON GOOD AND THE GENERAL WELFARE OF THE RESIDENTS, PROPERTY OWNERS AND CUSTOMERS WHO RESIDE WITHIN THE BOUNDARIES OF THE IRVINE RANCH WATER DISTRICT AND THE GOVERNMENTAL ENTERPRISES IN THE DISTRICT AND THE SURROUNDING AREAS BY ACQUIRING REAL AND PERSONAL PROPERTY TO THE BENEFIT OF THE DISTRICT AND INDIVIDUALS HEREIN DESCRIBED.

Program Service Accomplishments

Program 1

Expenses: $9,426,499 Revenue: $10,686,103

BARDEEN PARTNERS WAS FORMED FOR THE PURPOSE OF ACCOUNTING FOR THE FINANCIAL DATA AND TRANSACTIONS FOR CERTAIN IRVINE RANCH WATER DISTRICT REAL ESTATE INVESTMENTS, INCLUDING THE INVESTMENTS IN WOOD...

BARDEEN PARTNERS WAS FORMED FOR THE PURPOSE OF ACCOUNTING FOR THE FINANCIAL DATA AND TRANSACTIONS FOR CERTAIN IRVINE RANCH WATER DISTRICT REAL ESTATE INVESTMENTS, INCLUDING THE INVESTMENTS IN WOOD CANYON VILLAS, SYCAMORE CANYON APARTMENTS, AND IRVINE TECHNOLOGY CENTER. BARDEEN PARTNERS IS GOVERNED BY A BOARD OF DIRECTORS CONSISTING OF THE FIVE MEMBERS OF IRVINE RANCH WATER DISTRICT'S BOARD OF DIRECTORS. BARDEEN PARTNERS DOES NOT ISSUE SEPARATE FINANCIAL STATEMENTS.

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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 $0

Program Service Revenue $0

Investment Income $575,815

Other Revenue $10,110,288

TOTAL REVENUE $10,686,103

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $9,426,499

Other Expenses $9,426,499

TOTAL EXPENSES $9,426,499

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,686,103	$9,223,843	+0.2%
Expenses	$9,426,499	$7,370,977	+0.3%
Net Income	$1,259,604	$1,852,866	-0.3%

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

N/A

Employees

N/A

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

$1,393,390

Total Directors

$242,194

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN LAMAR	VICE PRESIDENT	1.00	Officer Director	$0	$25,786	$57,755
DOUG REINHART	PRESIDENT	1.00	Officer Director	$0	$25,786	$61,411
JOHN WITHERS	DIRECTOR	1.00	Director	$0	$28,987	$59,244
DAN FERONS	DIRECTOR	1.00	Director	$0	$0	$0
PEER SWAN	DIRECTOR	1.00	Director	$0	$29,791	$63,784
KRISTINE SWAN	SECRECTARY	1.00	Officer	$0	$35,761	$170,320
CLAIRE HERVEY COLLINS	ATTORNEY	1.00	Officer	$0	$0	$0
NEVEEN ADLY	TREASURER	1.00	Officer	$0	$45,625	$338,970
JENNIFER DAVIS	ASST. TREASURER	1.00	Officer	$0	$41,178	$230,138
PAUL COOK	GENERAL MANAGER	1.00	Officer	$0	$61,257	$534,796
KEVIN BURTON	EXECUTIVE DIRECTOR, TECHNICAL SERVICES	1.00	Highest	$0	$53,008	$381,323
PAUL WEGHORST	EXECUTIVE DIRECTOR, WATER POLICY	1.00	Highest	$0	$64,594	$381,945
WENDY CHAMBERS	EXECUTIVE DIRECTOR, OPERATIONS	1.00	Highest	$0	$46,824	$343,316
FIONA SANCHEZ	DIRECTOR OF WATER SERVICES	1.00	Highest	$0	$51,845	$324,093
JOSE ZEPEDA	DIRECTOR OF WATER & RECYCLING OPERATIONS	1.00	Highest	$0	$53,016	$320,900

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	$10,686,103	$9,426,499	$279,126,136	$1,259,604
2024	$9,223,843	$7,370,977	$269,828,671	$1,852,866
2023	$9,301,537	$8,629,993	$229,094,998	$671,544
2022	$8,491,991	$8,122,640	$221,953,090	$369,351
2021	$8,558,319	$7,974,581	$215,133,557	$583,738
2020	$7,830,954	$7,627,509	$195,444,875	$203,445
2019	$8,704,528	$12,390,581	$189,715,509	$-3,686,053
2018	$8,468,264	$8,045,159	$187,782,534	$423,105