TRI-COUNTY WATER ASSOCIATION (EIN 556023858) - 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

1958

Legal Domicile

Principal Officer

THOMAS SPRINGER

Phone

3045345645

Tax Period

2024-01-01 to 2024-12-31

TRI-COUNTY WATER ASSOCIATION, founded in 1958, is a small nonprofit that reported $493K in total revenue in fiscal year 2024. Revenue decreased 20% compared to the prior year. Expenses of $629K exceeded revenue, resulting in a 27% operating deficit.

Mission

PROVIDE DISTRIBUTION OF WATER TO OVER 1100 RESIDENTIAL AND COMMERCIAL CUSTOMERS.

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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 $0

Investment Income $4,574

Other Revenue $488,704

TOTAL REVENUE $493,278

Expense Breakdown

Grants Paid $0

Salaries & Benefits $275,288

Fundraising Expenses $0

Program Expenses $628,911

Other Expenses $353,623

TOTAL EXPENSES $628,911

Year-over-Year Comparison

	2024	2023	Change
Revenue	$493,278	$614,416	-0.2%
Expenses	$628,911	$673,361	-0.1%
Net Income	$-135,633	$-58,945	+1.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAMA OLIVERIO	PRESIDENT	N/A	Officer	$0	$0	$0
THOMAS SPRINGER	VICE PRESIDE	N/A	Officer	$0	$0	$0
GLENN DOYLE	SEC/TREAS	N/A	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	$493,278	$628,911	$2,946,256	$-135,633
2023	$614,416	$673,361	$3,092,578	$-58,945
2022	$396,071	$585,533	$3,220,387	$-189,462
2021	$444,147	$579,275	$2,789,151	$-135,128
2020	$456,169	$586,380	$2,906,936	$-130,211
2019	$451,637	$570,460	$3,023,791	$-118,823
2018	$471,280	$570,681	$3,197,586	$-99,401

TRI-COUNTY WATER ASSOCIATION