DAVIDSON WATER INC (EIN 561057522) - 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

1973

Legal Domicile

Principal Officer

JONATHAN RAY

Phone

3367315500

Tax Period

2024-10-01 to 2025-09-30

DAVIDSON WATER INC, founded in 1973, is a mid-sized nonprofit that reported $27.9M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $6.5M, a strong 23% operating margin.

Mission

PROVIDE WATER SERVICES

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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 $23,142,767

Investment Income $1,749,208

Other Revenue $3,035,274

TOTAL REVENUE $27,927,249

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,814,347

Fundraising Expenses $0

Program Expenses $21,442,326

Other Expenses $12,640,460

TOTAL EXPENSES $21,454,807

Year-over-Year Comparison

	2024	2023	Change
Revenue	$27,927,249	$25,015,303	+0.1%
Expenses	$21,454,807	$20,172,002	+0.1%
Net Income	$6,472,442	$4,843,301	+0.3%

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

$33,600

Total Directors

$72,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
F LEE COMER	BOARD PRESIDENT	2.00	Officer Director	$9,000	$0	$9,000
BEN HEGE	BOARD VICE-PRESIDENT	2.00	Officer Director	$8,400	$0	$8,400
THERESA L MATTHEWS	BOARD TREASURER	2.00	Officer Director	$7,800	$0	$7,800
CHRISTOPHER FITZGERALD	DIRECTOR	1.00	Director	$5,100	$0	$5,100
JASON GALLIMORE	DIRECTOR	1.00	Director	$5,700	$0	$5,700
JAMES LOUYA	DIRECTOR	1.00	Director	$6,900	$0	$6,900
JASON HEDGECOCK	DIRECTOR	1.00	Director	$4,200	$0	$4,200
VICTOR K PHILLIPS	DIRECTOR	1.00	Director	$6,300	$0	$6,300
SHEILA POTTER	DIRECTOR	1.00	Director	$6,000	$0	$6,000
DAVID REID SMITH	BOARD SECRETARY	2.00	Officer Director	$8,400	$0	$8,400
CHAD B YOUNG	DIRECTOR	1.00	Director	$5,100	$0	$5,100
JOSHUA JAMES	CONTROLLER	40.00	Highest	$150,898	$0	$150,898
JONATHAN RAY	CEO AND GENERAL MANAGER	40.00	Highest	$173,035	$0	$173,035
ERIC M HEGE	CIO	40.00	Highest	$164,123	$0	$164,123
BEN PALMER	DIRECTOR OF CONSTRUCTION AND ENGINEERING	40.00	Highest	$157,089	$0	$157,089
DANNY THOMPSON	ENGINEER - GIS MANAGER	40.00	Highest	$127,470	$0	$127,470
RONALD B SINK	FORMER CEO AND GENERAL MANAGER	40.00		$252,307	$0	$252,307
ROBERT J WALTERS	FORMER VICE-PRESIDENT OF CONSTRUCTION	40.00		$184,882	$0	$184,882

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	$27,927,249	$21,454,807	$182,896,578	$6,472,442
2024	$25,015,303	$20,172,002	$171,439,990	$4,843,301
2023	$21,946,834	$18,702,022	$162,764,145	$3,244,812
2022	$18,462,382	$16,959,717	$156,115,966	$1,502,665
2021	$21,916,629	$15,885,183	$151,736,687	$6,031,446
2020	$20,052,231	$15,875,379	$144,718,209	$4,176,852
2019	$19,502,314	$15,548,159	$149,280,733	$3,954,155
2018	$19,515,166	$14,773,973	$149,651,347	$4,741,193

DAVIDSON WATER INC