HOMESTEAD WATER COMPANY

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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

2015

Legal Domicile

Phone

3036707146

Tax Period

2024-01-01 to 2024-12-31

HOMESTEAD WATER COMPANY, founded in 2015, is a small nonprofit in the Mutual Benefit sector that reported $767K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $240K, a strong 31% operating margin.

Mission

THE COMPANY IS A MUTUAL WATER COMPANY ESTABLISHED FOR THE PURPOSE OF PROVIDING WATER SERVICE TO AND FOR THE BENEFIT OF ITS MEMBERS IN ACCORDANCE WITH 26 USC CS 501(C)(12).

Program Service Accomplishments

Program 1

Expenses: $511,806 Revenue: $730,955

THE ENTITY PROVIDED WATER TO THE HOMEOWNERS OF THE COMMUNITY.

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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 $730,955

Investment Income $31,625

Other Revenue $4,425

TOTAL REVENUE $767,005

Expense Breakdown

Grants Paid $0

Salaries & Benefits $219,551

Fundraising Expenses $0

Program Expenses $511,806

Other Expenses $307,350

TOTAL EXPENSES $526,901

Year-over-Year Comparison

	2024	2023	Change
Revenue	$767,005	$630,786	+0.2%
Expenses	$526,901	$417,867	+0.3%
Net Income	$240,104	$212,919	+0.1%

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

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

$130,925

Total Directors

$165,512

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORMAN S LEWIS	President & GM	50.00	Officer Director	$118,511	$0	$118,511
LANCE HANCHEY	BOARD MEMBER	25.00	Director	$34,587	$0	$34,587
CRAIG CHOUN	Treasurer	7.00	Officer Director	$6,823	$0	$6,823
JOSEPH MUSCA	Vice President	5.00	Officer Director	$5,591	$0	$5,591
MARK HASSEMAN	Secretary	1.00	Officer Director	$0	$0	$0
GARY BURCH	BOARD MEMBER	1.00	Director	$0	$0	$0
KATHY WHITE	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW TABER	BOARD MEMBER	1.00	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	$767,005	$526,901	$2,986,164	$240,104
2023	$630,786	$417,867	$3,079,994	$212,919
2022	$597,852	$385,128	$2,191,934	$212,724
2021	$677,881	$470,259	$1,526,656	$207,622
2020	$462,038	$425,476	$1,239,411	$36,562
2019	$506,559	$456,654	$955,811	$49,905
2018	$354,845	$376,194	$780,624	$-21,349