LAKE ERIE UTILITIES CO INC (EIN 341138876) - 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

1988

Legal Domicile

Principal Officer

Krissy Hart

Phone

6143618975

Tax Period

2024-01-01 to 2024-12-31

LAKE ERIE UTILITIES CO INC, founded in 1988, is a small nonprofit in the Mutual Benefit sector that reported $455K in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $428K left a modest 6% surplus.

Mission

Provide potable water and sewer services to owner members of Burgundy Bay subdivision on Middle Bass Island.

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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 $450,581

Investment Income $4,139

Other Revenue $0

TOTAL REVENUE $454,720

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $428,033

Other Expenses $428,033

TOTAL EXPENSES $428,033

Year-over-Year Comparison

	2024	2023	Change
Revenue	$454,720	$367,035	+0.2%
Expenses	$428,033	$432,166	0.0%
Net Income	$26,687	$-65,131	-1.4%

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

199

Independent Members

199

Employees

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lloyd Bean	Board Member	3	Director	$0	$0	$0
Scott Seighman	Board Member	3	Director	$0	$0	$0
Jeff Tanski	Board Member	3	Director	$0	$0	$0
Bob St John	Board Member	3	Director	$0	$0	$0
Andrea Tibbels	Board Member	3	Director	$0	$0	$0
Krissy Hart	President	5	Officer	$0	$0	$0
Jan Ross	Treasurer	4	Officer	$0	$0	$0
Colleen Kerkay	Secretary	4	Officer	$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
2025	No data	No data	No data	No data
2024	$454,720	$428,033	$1,817,038	$26,687
2023	$367,035	$432,166	$1,802,851	$-65,131
2022	$375,097	$381,476	$1,880,243	$-6,379

LAKE ERIE UTILITIES CO INC