WEST CENTRAL IOWA RURAL WATER ASSO… - Form 990 Financial Data

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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

1970

Legal Domicile

Principal Officer

JASON MEREDITH

Phone

7126552534

Tax Period

2024-01-01 to 2024-12-31

WEST CENTRAL IOWA RURAL WATER ASSOCIATION, founded in 1970, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2024. Expenses of $3.7M left a modest 11% surplus.

Mission

WATER SERVICES. THE ASSOCIATION PROVIDES WATER TO THE MEMBERS IN RURAL WEST CENTRAL IOWA. THE ASSOCIATION ALSO PROVIDES WATER AND SEWER SERVICES TO SEVERAL SMALL TOWNS.

Program Service Accomplishments

Program 1

THE ASSOCIATION PROVIDES WATER TO THE MEMBERS IN RURAL WEST CENTRAL IOWA. THE ASSOCIATION ALSO PROVIDES WATER TO SEVERAL SMALL TOWNS AND CONSTRUCTED A WASTE WATER SYSTEM FOR THE TOWN OF HALBUR.

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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 $3,812,796

Investment Income $278,771

Other Revenue $11,309

TOTAL REVENUE $4,102,876

Expense Breakdown

Grants Paid $0

Salaries & Benefits $684,138

Fundraising Expenses $0

Other Expenses $2,983,061

TOTAL EXPENSES $3,667,199

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,102,876	$4,147,250	0.0%
Expenses	$3,667,199	$3,407,060	+0.1%
Net Income	$435,677	$740,190	-0.4%

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

$159,252

Total Directors

$8,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON MEREDITH	MANAGER	40.00	Officer	$90,000	$6,104	$96,104
ROBIN CAST	OFFICE MANAG	40.00	Officer	$53,686	$5,762	$59,448
STEVE WILLENBORG	PRESIDENT	1.00	Officer Director	$1,100	$0	$1,100
MYRON OLERICH	VICE PRESIDE	1.00	Officer Director	$900	$0	$900
DAVID WELLER	SECRETARY	1.00	Officer Director	$900	$0	$900
AARON STANGL	ASST. SECRET	1.00	Officer Director	$800	$0	$800
DALE KERKOFF	DIRECTOR	1.00	Director	$900	$0	$900
SEAN O'NEILL	DIRECTOR	1.00	Director	$1,100	$0	$1,100
ALLAN SANDER	DIRECTOR	1.00	Director	$1,100	$0	$1,100
DAVID SCHWARTE	DIRECTOR	1.00	Director	$700	$0	$700
BILL CHRISTENSEN	DIRECTOR	1.00	Director	$500	$0	$500
LARRY KLEVER LEFT 62024	PRESIDENT	1.00	Director	$400	$0	$400

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
2025	No data	No data	No data	No data
2024	$4,102,876	$3,667,199	$33,970,957	$435,677
2023	$4,147,250	$3,407,060	$30,133,507	$740,190
2022	$3,775,113	$3,344,432	$29,302,944	$430,681
2021	$3,642,249	$3,319,450	$29,310,441	$322,799
2020	$3,476,537	$3,299,374	$30,055,152	$177,163
2019	$3,239,759	$3,249,691	$29,666,147	$-9,932
2018	$3,132,247	$3,162,608	$30,003,444	$-30,361

WEST CENTRAL IOWA RURAL WATER ASSOCIATION