SOUTH MILLS WATER ASSOCIATION INC (EIN 560889942) - 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

1964

Legal Domicile

Principal Officer

AL BOHN

Phone

2527715620

Tax Period

2023-01-01 to 2023-12-31

SOUTH MILLS WATER ASSOCIATION INC, founded in 1964, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Expenses of $1.4M exceeded revenue, resulting in a 19% operating deficit.

Mission

THE ASSOCIATION PROVIDES A WATER SYSTEM FOR ITS 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,143,981

Investment Income $18,674

Other Revenue $0

TOTAL REVENUE $1,162,655

Expense Breakdown

Grants Paid $0

Salaries & Benefits $366,436

Fundraising Expenses $0

Program Expenses $1,106,364

Other Expenses $1,021,919

TOTAL EXPENSES $1,388,355

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,162,655	$1,191,340	0.0%
Expenses	$1,388,355	$1,421,042	0.0%
Net Income	$-225,700	$-229,702	0.0%

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

$10,350

Total Directors

$17,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FREDDIE O'NEAL	DIRECTOR	3.00	Director	$3,750	$0	$3,750
AL BOHN	TREASURER	3.00	Officer Director	$3,600	$0	$3,600
ADAM RUSSELL	VICE PRESIDE	3.00	Officer Director	$3,450	$0	$3,450
JAMES BURNHAM	SECRETARY	3.00	Officer Director	$3,300	$0	$3,300
JOSEPH THOMPSON	DIRECTOR	3.00	Director	$2,700	$0	$2,700
MICHAEL ANDREWS	DIRECTOR	3.00	Director	$450	$0	$450

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	No data	No data	No data	No data
2023	$1,162,655	$1,388,355	$4,764,326	$-225,700
2022	$1,191,340	$1,421,042	$6,002,410	$-229,702
2021	$2,799,403	$1,437,634	$6,358,102	$1,361,769
2020	$1,104,964	$1,422,715	$6,287,200	$-317,751
2019	$1,160,680	$1,276,706	$6,594,114	$-116,026
2018	$1,140,275	$1,128,003	$6,740,709	$12,272

SOUTH MILLS WATER ASSOCIATION INC