BOGUE BANKS WATER CORPORATION

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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

1968

Legal Domicile

Principal Officer

CHRISTOPHER CARROLL

Phone

2523543307

Tax Period

2025-01-01 to 2025-12-31

BOGUE BANKS WATER CORPORATION, founded in 1968, is a community nonprofit that reported $4.7M in total revenue in fiscal year 2025. The organization ran a surplus of $1.0M, a strong 21% operating margin.

Mission

PROVIDING WATER SERVICE AND STORAGE FOR 6,622 CUSTOMERS

Program Service Accomplishments

Program 1

PROVIDING WATER SERVICE AND STORAGE FOR 6,622 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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,611,055

Investment Income $101,053

Other Revenue $0

TOTAL REVENUE $4,712,108

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,175,879

Fundraising Expenses $0

Other Expenses $2,529,837

TOTAL EXPENSES $3,705,716

Year-over-Year Comparison

	2025	2024	Change
Revenue	$4,712,108	$4,630,727	+0.0%
Expenses	$3,705,716	$3,294,843	+0.1%
Net Income	$1,006,392	$1,335,884	-0.2%

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

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

$2,300

Total Directors

$5,075

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATALIE CRUMPLER	BOARD MEMBER	1.00	Director	$1,150	$0	$1,150
JOHN MCLEAN JR	BOARD MEMBER	1.00	Director	$1,150	$0	$1,150
DAISY SPELL	BOARD MEMBER	1.00	Director	$1,150	$0	$1,150
CHRISTOPHER CARROLL	CHAIRMAN OF	2.00	Officer	$1,150	$0	$1,150
PAXON HOLZ	SECRETARY/TR	1.00	Officer	$1,150	$0	$1,150
PAMELA MOSS	BOARD MEMBER	1.00	Director	$925	$0	$925
CHUCK JORDAN	BOARD MEMBER	1.00	Director	$700	$0	$700

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	$4,712,108	$3,705,716	$24,394,544	$1,006,392
2024	$4,630,727	$3,294,843	$23,829,349	$1,335,884
2023	$4,138,217	$2,977,968	$21,415,927	$1,160,249
2022	$4,309,737	$2,651,145	$20,136,197	$1,658,592
2021	$3,872,694	$2,531,274	$18,356,935	$1,341,420
2020	$3,646,609	$2,325,471	$16,886,044	$1,321,138
2019	$2,940,294	$2,417,670	$15,635,024	$522,624
2018	$2,726,387	$2,335,830	$15,041,022	$390,557