RURAL WATER SYSTEM NUMBER 1 (EIN 420946161) - 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

RANDY IEDEMA

Tax Period

2024-01-01 to 2024-12-31

RURAL WATER SYSTEM NUMBER 1, founded in 1969, is a community nonprofit that reported $3.4M in total revenue in fiscal year 2024. Expenses of $3.1M left a modest 10% surplus.

Mission

WATER SALES

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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 $278,350

Investment Income $93,083

Other Revenue $3,029,649

TOTAL REVENUE $3,401,082

Expense Breakdown

Grants Paid $0

Salaries & Benefits $453,102

Fundraising Expenses $0

Program Expenses $3,076,468

Other Expenses $2,623,366

TOTAL EXPENSES $3,076,468

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,401,082	$3,358,503	+0.0%
Expenses	$3,076,468	$2,954,503	+0.0%
Net Income	$324,614	$404,000	-0.2%

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

$4,500

Total Directors

$11,000

Key Employees

$172,335

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY IEDEMA	MANAGER	55.00	Key Emp	$172,335	$0	$172,335
MATT HANENBURG	PRESIDENT	5.00	Officer Director	$1,750	$0	$1,750
MICAH SCHOUTEN	SECRETARY	5.00	Officer Director	$1,750	$0	$1,750
JUSTIN BOERSMA	DIRECTOR	5.00	Director	$1,375	$0	$1,375
PAUL STOLL	DIRECTOR	5.00	Director	$1,250	$0	$1,250
AARON SNELLER	DIRECTOR	5.00	Director	$1,125	$0	$1,125
DAN BUYERT	VICE PRESIDE	5.00	Officer Director	$1,000	$0	$1,000
JEFF BEYER	DIRECTOR	5.00	Director	$875	$0	$875
JOSH CROATT	DIRECTOR	5.00	Director	$750	$0	$750
JAKE GRANSTRA	DIRECTOR	5.00	Director	$750	$0	$750
CRAIG HOFTYZER	DIRECTOR	5.00	Director	$375	$0	$375

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	$3,401,082	$3,076,468	$36,384,259	$324,614
2023	$3,358,503	$2,954,503	$34,553,775	$404,000
2022	$3,176,291	$2,891,390	$33,489,450	$284,901
2021	$3,210,114	$2,780,474	$33,250,525	$429,640
2020	$3,042,999	$2,746,333	$33,078,228	$296,666
2019	$2,663,696	$2,594,200	$29,858,533	$69,496

RURAL WATER SYSTEM NUMBER 1