51ST STREET WATER ASSOCIATION (EIN 363943624) - 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

1993

Legal Domicile

Principal Officer

JOSEPH C MIHALOV

Phone

8478467722

Tax Period

2023-01-01 to 2023-12-31

51ST STREET WATER ASSOCIATION, founded in 1993, is a small nonprofit that reported $394K in total revenue in fiscal year 2023. Expenses of $365K left a modest 7% surplus.

Mission

ASSOCIATION PROVIDES DOMESTIC WATER SERVICE TO MEMBER COMPANIES, FOR WHICH MEMBERS PAY ASSESSMENTS BASED ON THEIR USAGE. EXPENSES ARE PRIMARILY INCURRED FOR MAINTENANCE OF THE WATER SYSTEM AND PAYMENTS TO THE CITY OF CHICAGO FOR WATER PURCHASED AND TRANSMITTED TO MEMBER COMPANIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $393,550

Investment Income $16

Other Revenue $0

TOTAL REVENUE $393,566

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,400

Fundraising Expenses $0

Other Expenses $341,797

TOTAL EXPENSES $365,197

Year-over-Year Comparison

	2023	2022	Change
Revenue	$393,566	$383,821	+0.0%
Expenses	$365,197	$395,008	-0.1%
Net Income	$28,369	$-11,187	-3.5%

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

N/A

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

$23,400

Total Directors

$23,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH C MIHALOV	PRESIDENT	2.00	Officer Director	$23,400	$0	$23,400
BEATA JANOCIAK	DIRECTOR	N/A	Director	$0	$0	$0
MIKE MENDENHALL	DIRECTOR	N/A	Director	$0	$0	$0

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	No data	No data	No data	No data
2023	$393,566	$365,197	$604,320	$28,369
2022	$383,821	$395,008	$481,831	$-11,187
2021	$441,384	$398,568	$496,934	$42,816
2020	$441,384	$398,563	$74,626	$42,821

51ST STREET WATER ASSOCIATION