DAVIESS COUNTY RURAL WATER SYSTEM INC (EIN 351318696) - 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

1971

Legal Domicile

Principal Officer

KEVIN J ARMES

Phone

8122544526

Tax Period

2024-01-01 to 2024-12-31

DAVIESS COUNTY RURAL WATER SYSTEM INC, founded in 1971, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2024. Net assets of $9.3M represent 40 months of operating reserves.

Mission

PROVIDE WATER SERVICE TO RURAL CITIZENS OF DAVIESS COUNTY, INDIANA

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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 $2,796,504

Investment Income $8,080

Other Revenue $0

TOTAL REVENUE $2,804,584

Expense Breakdown

Grants Paid $0

Salaries & Benefits $624,135

Fundraising Expenses $0

Other Expenses $2,153,822

TOTAL EXPENSES $2,777,957

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,804,584	$2,669,313	+0.1%
Expenses	$2,777,957	$2,482,182	+0.1%
Net Income	$26,627	$187,131	-0.9%

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

$15,800

Total Directors

$10,350

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
KEVIN J ARMES	President	Officer	$4,650	$0	$4,650
STEVEN BRETT RIGGLE	Secretary	Officer	$3,850	$0	$3,850
DAVID MALLETT	Board Member	Director	$3,650	$0	$3,650
JEREMY BENNETT	Board Member	Director	$3,650	$0	$3,650
MICHAEL R RIGGINS	Vice President	Officer	$3,650	$0	$3,650
DAVID POTTS	Treasurer	Officer	$3,650	$0	$3,650
COLE WOLFORD	Board Member	Director	$3,050	$0	$3,050

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	$2,804,584	$2,777,957	$16,754,714	$26,627
2023	$2,669,313	$2,482,182	$16,844,562	$187,131
2022	$2,477,583	$2,337,668	$16,786,857	$139,915
2021	$2,456,308	$2,257,798	$16,846,656	$198,510
2020	$2,455,201	$2,287,661	$19,721,864	$167,540

DAVIESS COUNTY RURAL WATER SYSTEM INC