Indian Creek Homeowners & Water Association of McLean County Inc

EIN: 371204414 Public & Societal Benefit

Towanda, IL

Total Revenue
$243,604
Total Expenses
$494,185
Total Assets
$160,741
Net Assets
$-27,322
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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
1986
Legal Domicile
IL
Principal Officer
David Schulthes
Phone
3097282927
Tax Period
2023-01-01 to 2023-12-31

Indian Creek Homeowners & Water Association of McLean County Inc, founded in 1986, is a small nonprofit in the Public & Societal Benefit sector that reported $244K in total revenue in fiscal year 2023. Expenses of $494K exceeded revenue, resulting in a 103% operating deficit.

Mission

The Association manages the water system and grounds for 88 homes. The water system consists of a well, water tower, chemical treatment equipment and water lines.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $240,341
Program Service Revenue $0
Investment Income $3,263
Other Revenue $0
TOTAL REVENUE $243,604

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $494,185
TOTAL EXPENSES $494,185

Year-over-Year Comparison

2023 2022 Change
Revenue $243,604 N/A N/A
Expenses $494,185 N/A N/A
Net Income $-250,581 N/A N/A
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

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

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
3
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jim Larson Director 005.00
Director
$0 $0 $0
Fred Walk Director 005.00
Director
$0 $0 $0
Barb Leathers President 005.00
Officer
$0 $0 $0
Barb Ulbrich Secretary 005.00
Officer
$0 $0 $0
David Schulthes Treasurer 005.00
Officer
$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
2023 $243,604 $494,185 $160,741 $-250,581
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