CANAAN UTILITIES CORPORATION (EIN 351163038) - 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

1967

Legal Domicile

Principal Officer

STEVEN LEE

Phone

8128394000

Tax Period

2025-01-01 to 2025-12-31

CANAAN UTILITIES CORPORATION, founded in 1967, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2025. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $206K, a strong 16% operating margin.

Mission

PROVIDING WATER TO RURAL CUSTOMERS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $94,302

Program Service Revenue $1,151,057

Investment Income $26,562

Other Revenue $3,150

TOTAL REVENUE $1,275,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $222,725

Fundraising Expenses $0

Other Expenses $846,509

TOTAL EXPENSES $1,069,234

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,275,071	$1,105,292	+0.2%
Expenses	$1,069,234	$1,044,379	+0.0%
Net Income	$205,837	$60,913	+2.4%

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

$8,285

Total Directors

$13,575

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN LEE	PRESIDENT	1.00	Officer	$3,025	$0	$3,025
BENJAMIN BECKLEY	SECRETARY/TR	1.00	Officer	$2,885	$0	$2,885
MEGAN LENGERICH	DIRECTOR	1.00	Director	$2,500	$0	$2,500
VICKI TAYLOR	DIRECTOR	1.00	Director	$2,500	$0	$2,500
JIMMY D COLEN	DIRECTOR	1.00	Director	$2,375	$0	$2,375
GARY COPELAND	VICE PRESIDE	1.00	Officer	$2,375	$0	$2,375
CURTIS ALTHOFF	DIRECTOR	1.00	Director	$2,125	$0	$2,125
NATHAN CLUBB	DIRECTOR	1.00	Director	$2,125	$0	$2,125
KIM IMEL	DIRECTOR	1.00	Director	$1,950	$0	$1,950

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	$1,275,071	$1,069,234	$4,769,218	$205,837
2024	$1,105,292	$1,044,379	$5,068,555	$60,913
2023	$1,106,249	$822,249	$4,970,531	$284,000
2022	$1,133,801	$794,019	$4,605,420	$339,782
2021	$729,599	$703,845	$4,211,609	$25,754
2020	$727,627	$644,245	$4,238,545	$83,382

CANAAN UTILITIES CORPORATION