IREDELL WATER CORPORATION (EIN 560883544) - 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

1966

Legal Domicile

Principal Officer

EDWARD BISSELL

Phone

7048760672

Tax Period

2025-01-01 to 2025-12-31

IREDELL WATER CORPORATION, founded in 1966, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2025. The organization ran a surplus of $1.9M, a strong 29% operating margin.

Mission

TO PROVIDE A CLEAN, SAFE, HEALTHY RURAL WATER SUPPLY TO MEMBERS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $85,487

Program Service Revenue $6,009,090

Investment Income $403,363

Other Revenue $78,608

TOTAL REVENUE $6,576,548

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,248,707

Fundraising Expenses $0

Program Expenses $3,944,354

Other Expenses $3,396,159

TOTAL EXPENSES $4,644,866

Year-over-Year Comparison

	2025	2024	Change
Revenue	$6,576,548	$6,231,673	+0.1%
Expenses	$4,644,866	$4,198,010	+0.1%
Net Income	$1,931,682	$2,033,663	-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

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

$195,574

Total Directors

$16,350

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY D SLOAN	MANAGER	40.00	Officer	$170,412	$19,462	$189,874
CURTIS W MEYER	N/A	40.00	Highest	$106,985	$19,522	$126,507
BOBBY DAVIDSON	VICE PRESIDENT	1.00	Officer Director	$1,950	$0	$1,950
ALAN L COOK	SECRETARYTREASURER	1.00	Officer Director	$1,950	$0	$1,950
MATT MOREFIELD	DIRECTOR	1.00	Director	$1,950	$0	$1,950
EDWARD BISSELL	PRESIDENT	5.00	Officer Director	$1,800	$0	$1,800
SCOTTY HARRIS	DIRECTOR	1.00	Director	$1,800	$0	$1,800
WAYNE SMITH	DIRECTOR	1.00	Director	$1,800	$0	$1,800
FRANKLIN RASH	DIRECTOR	1.00	Director	$1,800	$0	$1,800
ERIC PATTERSON	DIRECTOR	1.00	Director	$1,650	$0	$1,650
KENT BLACKWELDER	DIRECTOR	1.00	Director	$1,650	$0	$1,650

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	$6,576,548	$4,644,866	$29,605,269	$1,931,682
2024	$6,231,673	$4,198,010	$28,149,523	$2,033,663
2023	$7,283,045	$4,107,718	$26,594,400	$3,175,327
2022	$5,447,247	$4,184,718	$23,827,018	$1,262,529
2021	$4,847,104	$2,981,787	$19,180,704	$1,865,317
2020	$3,990,672	$2,960,980	$14,505,039	$1,029,692
2019	$3,688,960	$2,600,682	$12,016,811	$1,088,278

IREDELL WATER CORPORATION