CATARACT LAKE WATER CORP (EIN 351362638) - 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

1969

Legal Domicile

Principal Officer

ELAINE PEARSON

Phone

7657953288

Tax Period

2024-01-01 to 2024-12-31

CATARACT LAKE WATER CORP, founded in 1969, is a small nonprofit that reported $623K in total revenue in fiscal year 2024. Net assets of $2.1M represent 41 months of operating reserves.

Mission

CORPORATION SUPPLIES POTABLE WATER TO APPROXIMATELY 1,250 CUSTOMERS IN WESTERN OWEN, EASTERN CLAY AND SOUTHERN PUTNAM COUNTIES OF WEST-CENTRAL 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 $615,927

Investment Income $6,643

Other Revenue $0

TOTAL REVENUE $622,570

Expense Breakdown

Grants Paid $0

Salaries & Benefits $266,768

Fundraising Expenses $0

Other Expenses $367,446

TOTAL EXPENSES $634,214

Year-over-Year Comparison

	2024	2023	Change
Revenue	$622,570	$652,008	0.0%
Expenses	$634,214	$613,914	+0.0%
Net Income	$-11,644	$38,094	-1.3%

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

1293

Independent Members

1293

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

$55,814

Total Directors

$80,602

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHIAS J PERRY	OFFICE MANAG	40.00	Director	$77,677	$0	$77,677
TERESA GILBRECH	SECRETARY	40.00	Officer	$52,314	$0	$52,314
ROY BOOHER	VICE PRESIDE	2.00	Officer	$1,200	$0	$1,200
ELAINE PEARSON	PRESIDENT	5.00	Officer	$1,200	$0	$1,200
PAT CLOSSEY	TREASURER	2.00	Officer	$1,100	$0	$1,100
STEVE HUGGLER	DIRECTOR	2.00	Director	$825	$0	$825
RONNIE MAIDEN	DIRECTOR	2.00	Director	$750	$0	$750
BOBBIE WEIST	DIRECTOR	2.00	Director	$750	$0	$750
LLONA REYNOLDS	DIRECTOR	2.00	Director	$600	$0	$600

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	$622,570	$634,214	$2,454,259	$-11,644
2023	$652,008	$613,914	$2,500,184	$38,094
2022	$622,452	$646,353	$2,543,919	$-23,901
2021	$642,731	$565,943	$2,551,084	$76,788
2020	$545,169	$561,193	$2,518,378	$-16,024
2019	$626,806	$503,542	$2,598,579	$123,264
2018	$589,792	$477,838	$2,590,786	$111,954

CATARACT LAKE WATER CORP