TRICO WATER COMPANY INC

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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

1970

Legal Domicile

Principal Officer

LEON T MORRIS

Phone

8437744802

Tax Period

2024-01-01 to 2024-12-31

TRICO WATER COMPANY INC, founded in 1970, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $619K, a strong 24% operating margin.

Mission

TRICO WATER COMPANY, INC IS A NON-PROFIT CORPORATION ESTABILISED TO PROVIDE WATER PRODUCTION AND DISTRIBUTION AND SUPPLY FACILITES TO INDIVIDUALS AND ENTITIES WITHIN THE DILLON COUNTY GEOGRAPHICAL AREA AS FUNDS ARE MADE AVAILABLE.

Program Service Accomplishments

Program 1

Expenses: $1,927,537 Revenue: $6,290,397

RURAL WATER SYSTEM SERVICING OVER 6800 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 $245,746

Program Service Revenue $23,500

Investment Income $105,062

Other Revenue $2,194,821

TOTAL REVENUE $2,569,129

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,927,537

Other Expenses $1,950,438

TOTAL EXPENSES $1,950,438

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,569,129	$2,227,202	+0.2%
Expenses	$1,950,438	$1,766,811	+0.1%
Net Income	$618,691	$460,391	+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

N/A

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

$3,450

Total Directors

$9,450

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEON T MORRIS	PRESIDENT	10.00	Officer Director	$1,800	$0	$1,800
THOMAS H LEE	VICE PRESIDENT	10.00	Officer Director	$1,650	$0	$1,650
ISAIAH BARR	DIRECTOR	5.00	Director	$1,500	$0	$1,500
JOSEPH N GRAHAM	DIRECTOR	5.00	Director	$1,500	$0	$1,500
LARRY W WILLIAMS	DIRECTOR	5.00	Director	$1,500	$0	$1,500
JIMMY TANNER	DIRECTOR	5.00	Director	$1,500	$0	$1,500

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	$2,569,129	$1,950,438	$28,016,530	$618,691
2023	$2,227,202	$1,766,811	$28,130,230	$460,391
2022	$1,646,578	$1,671,764	$26,982,861	$-25,186
2021	$1,150,596	$1,744,004	$23,355,217	$-593,408
2020	$1,822,250	$1,617,967	$23,881,709	$204,283
2019	$3,677,463	$1,507,875	$23,495,202	$2,169,588
2018	$1,000,937	$1,423,579	$16,234,682	$-422,642