MID-DAKOTA RURAL WATER SYSTEM INC (EIN 363584582) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1988

Legal Domicile

Principal Officer

JEFF MCGIRR

Phone

6058533159

Tax Period

2024-01-01 to 2024-12-31

MID-DAKOTA RURAL WATER SYSTEM INC, founded in 1988, is a community nonprofit that reported $8.5M in total revenue in fiscal year 2018. Expenses of $11.7M exceeded revenue, resulting in a 38% operating deficit.

Mission

RURAL WATER SYSTEM TO PROVIDE WATER TO VARIOUS COMMUNITIES AND INDIVIDUALS

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,452,189

Program Service Revenue $10,587,375

Investment Income $337,590

Other Revenue $1,543,633

TOTAL REVENUE $27,920,787

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,713,825

Fundraising Expenses $0

Program Expenses $10,690,062

Other Expenses $9,625,281

TOTAL EXPENSES $12,339,106

Year-over-Year Comparison

	2024	2023	Change
Revenue	$27,920,787	$13,614,574	+1.1%
Expenses	$12,339,106	$12,002,113	+0.0%
Net Income	$15,581,681	$1,612,461	+8.7%

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

$25,850

Total Directors

$35,850

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF MCGIRR	CHAIRMAN	0.50	Officer	$12,600	$0	$12,600
DWIGHT GUTZMER	VICE-CHAIRMA	0.50	Officer	$7,200	$0	$7,200
RICK BENSON	SECREARY/TRE	0.50	Officer Director	$6,050	$0	$6,050
DAVID JENSEN	DIRECTOR	0.50	Director	$3,050	$0	$3,050
STEVE ROBBENOLT	DIRECTOR	0.50	Director	$5,200	$0	$5,200
DARRELL RASCHKE	DIRECTOR	0.50	Director	$4,600	$0	$4,600
LENNIS FAGERHAUG	DIRECTOR	0.50	Director	$4,850	$0	$4,850
LESLIE BROWN	DIRECTOR	0.50	Director	$5,450	$0	$5,450
CHUCK STEPTOE	DIRECTOR	0.50	Director	$6,650	$0	$6,650

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	$27,920,787	$12,339,106	$146,304,185	$15,581,681
2023	$13,614,574	$12,002,113	$128,469,107	$1,612,461
2022	$11,072,761	$12,415,518	$128,499,697	$-1,342,757
2021	$11,424,357	$11,317,414	$133,026,841	$106,943
2020	$10,242,521	$11,452,538	$133,256,175	$-1,210,017
2019	$9,167,165	$11,048,987	$123,301,116	$-1,881,822
2018	$8,519,348	$11,748,524	$125,609,836	$-3,229,176

MID-DAKOTA RURAL WATER SYSTEM INC