MORGAN COUNTY RURAL WATER CORPORATION (EIN 351105987) - 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

1964

Legal Domicile

Principal Officer

SCOTT YOUMANS

Phone

7653427370

Tax Period

2024-01-01 to 2024-12-31

MORGAN COUNTY RURAL WATER CORPORATION, founded in 1964, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. Expenses of $2.4M left a modest 9% surplus.

Mission

DELIVERS POTABLE WATER TO MEMBERS

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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 $2,589,367

Investment Income $44,825

Other Revenue $13,962

TOTAL REVENUE $2,648,154

Expense Breakdown

Grants Paid $0

Salaries & Benefits $665,093

Fundraising Expenses $0

Other Expenses $1,739,473

TOTAL EXPENSES $2,404,566

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,648,154	$2,561,281	+0.0%
Expenses	$2,404,566	$2,153,717	+0.1%
Net Income	$243,588	$407,564	-0.4%

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

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

$6,750

Total Directors

$13,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH CLYMER	MEMBER	2.00	Director	$2,400	$0	$2,400
LANCE SIMPSON	MEMBER	2.00	Director	$600	$0	$600
NATALIE REESE	MEMBER	2.00	Director	$2,700	$0	$2,700
RODNEY PHEIFER	MEMBER	2.00	Director	$2,850	$0	$2,850
DUDLEY BONTE	MEMBER	2.00	Director	$2,250	$0	$2,250
JAMES THACKER	MEMBER	2.00	Director	$2,700	$0	$2,700
JACK ELLIOTT	PRESIDENT	2.00	Officer	$1,650	$0	$1,650
JORDAN GILKERSON	TREASURER	2.00	Officer	$2,400	$0	$2,400
YVONNE LARISON	VICE PRESIDENT	2.00	Officer	$2,700	$0	$2,700

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	$2,648,154	$2,404,566	$21,267,635	$243,588
2023	$2,561,281	$2,153,717	$20,943,434	$407,564
2022	$2,443,723	$2,182,330	$20,510,361	$261,393
2021	$2,278,981	$2,065,756	$19,819,585	$213,225
2020	$2,339,231	$2,001,909	$18,668,926	$337,322
2019	$2,077,651	$2,068,314	$18,137,143	$9,337
2018	$2,036,468	$2,059,374	$18,194,454	$-22,906

MORGAN COUNTY RURAL WATER CORPORATION