DELAWARE RURAL WATER ASSOCIATION

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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

1990

Legal Domicile

Principal Officer

HEATHER WARREN

Phone

3024243792

Tax Period

2024-07-01 to 2025-06-30

DELAWARE RURAL WATER ASSOCIATION, founded in 1990, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year.

Mission

TO PROVIDE SAFE WATER TO DELAWARE RESIDENTS RESIDING IN RURAL AREAS.

Program Service Accomplishments

Program 1

Expenses: $147,773

SOURCE WATER - IMPROVE SOURCE WATER QUALITY

Program 2

Expenses: $255,815

FMHA CIRCUIT RIDER - PROVIDE FORMALIZED ON-SITE ASSISTANCE REGARDING PROBLEMS WITH WASTEWATER TREATMENT SYSTEMS

Program 3

Expenses: $296,759

SUSTAINABLE INFRA. ASSISTANCE AND CUSSP PROGRAMOTHER TECHNICAL ASSISTANCE

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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 $1,146,739

Program Service Revenue $548,395

Investment Income $3,129

Other Revenue $0

TOTAL REVENUE $1,698,263

Expense Breakdown

Grants Paid $0

Salaries & Benefits $803,306

Fundraising Expenses $0

Program Expenses $1,477,051

Other Expenses $845,643

TOTAL EXPENSES $1,648,949

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,698,263	$1,945,219	-0.1%
Expenses	$1,648,949	$1,924,262	-0.1%
Net Income	$49,314	$20,957	+1.4%

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

$93,160

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRANDON SLATER	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID BAIRD	BOARD MEMBER	1.00	Director	$0	$0	$0
DUSTAN RUSSUM	SEC/TREASURER	1.00	Officer Director	$0	$0	$0
EUGENE HELMICK	VICE-PRESIDENT	1.00	Officer Director	$0	$0	$0
TANYA ROGERS-VICKERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES KERSEY	BOARD MEMBER	1.00	Director	$0	$0	$0
HEATHER WARREN	EXECUTIVE DIRECTOR	40.00	Officer	$87,000	$6,160	$93,160

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	$1,698,263	$1,648,949	$918,055	$49,314
2024	$1,945,219	$1,924,262	$875,958	$20,957
2023	$1,497,164	$1,512,052	$916,938	$-14,888
2022	$1,377,092	$1,373,144	$909,250	$3,948
2020	$1,228,725	$1,172,405	$941,263	$56,320
2019	$1,031,754	$990,420	$760,548	$41,334